Today, let’s let’s talk about HOW FAST Can You Flip a Car for Profit? – The Time-Frame of A Car Deal. This is an interactive training. Thank you for jumping in.
A lot of you who joined me today are my LearnAutoBodyAndPaint VIPs. The LearnAutoBodyAndPaint Course goes side by side with buying and selling cars for profit.
If you can fix your own cars and get some of the work done yourself. The money you pay for a mechanic is money saved in your pocket.
Feedback: I’m feeling anxiety over money being tied up in a flip.
If you have the right flip, it’s like money in the bank. Money is made on the buy. If you’re sitting on a good deal, you can expect to do a flip within a week or two.
There’s a lot of ways to make money in flipping cars. I can show you the step-by-step process, and give you scenarios and options, so it’s up to you how you want to go about it.
There are a few states wherein you can basically get the title the same day such as Hawaii, South Carolina, California and Florida.
You have to pay an extra $20 in South Carolina to get the title the same day, and around $85 in Florida, and the basic $10 in Hawaii. If you have a good deal, you can expect to flip a car and sell it within one week.
There’s no problem getting rid of a car shortly after you get it registered to your own name. What’s wrong about getting rid of a car just because you didn’t like it right after you bought it? No big deal.
You can either have the car registered, or like what some people are doing, float a title and make your profit. It’s your choice. I’m not telling you the right thing to do. It’s all up to you how you want to make your profit.
If you are in other states and you want to get it registered, it will take 2 to 3 weeks, it’s good to sit on 2 to 3 cars at a time. But, you could do deals a lot quicker if you try to get the blank title.
What I do is, I have a customized bill of sale and use it as a transfer document, which we both have to sign. We don’t need to write on the title.
Then, when I sell the car, I ask the customer to sign the title, so there won’t be any problems with the person that I bought it from and the person that I sold it to.
Question: I’m going to an auction tomorrow for a 2007 Tahoe with 157,000 miles. What should I expect to pay?
This is a very broad question and a newbie question, but that’s fine. I don’t know what you’re going to pay. You don’t know your competition basically, whoever is bidding on it. Although, I recommend that you go to KBB just to get an idea.
I did that for you as a VIP member and checked it out for you. On private party fair condition, you’re looking to pay at about $7500 to $10,500 for excellent condition.
If you traded that car into a dealer, you are looking at $5,000 to $7,000 trade-in. That’s what a dealer would pay you for the truck. I like to buy at below trade-in.
The sweet spot for selling is within $4,000 to $8,000 and it has to be a good deal. If you sell within the $3,000 to $6,000, you could make around $1,500 to $2,000.
Question: Have you ever bought a car on eBay and wait three days? What if the car doesn’t work great?
I once bought a classic ’60 Chevrolet Chevelle. The interior was nice and the engine runs great, but there was more rust than I thought, and I didn’t have the time to do a complete restoration project.
I put it back on eBay and sold it to this guy in Russia and made a couple thousand dollars on it. Cars on eBay really sell. The last car I sold off eBay was my 2000 Mini with 35,000 miles on it.
Question: Do you have any information on dealer license?
Yes. I partnered with a friend of mine and created a product. Check out GetYourDealersLicense. He created all the information in the manual that shows you how to partner successfully without going through the pitfalls.
Some of the newbies have this mindset that you need to buy cars with a lot of problems, fix them up and get sell them. You have to look at deals differently, buy cars that don’t need a lot of work and just need a quick detail.
I don’t like to buy cars that are over 150,000 miles. My range is between 120,000 to 130,000 Asian cars.
It’s Tony from F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars. I hope you enjoyed our show for today. Join me again next week, Wednesday, at 9pm Eastern.
I urge you to invest in yourself and check out the F1 AutoCashFormula 2.0 VIP Course to learn all of my strategies. For all the newbies, grab your FREE Report and know more about flipping cars for profit.
Remember, you need to take action and do it consistently. Never stop searching for deals, do it regularly and eventually, you’ll find one. Then, make sure that you’re going through the entire F1 course, you should be able to profit on your first flip if you follow all of my strategies outlined in the program.
Please don’t forget to Like, Share and Subscribe to my videos. I’ll see you next week!
Other Helpful Links: