Hey! What’s going on!
Here’s another Q&A video from my followers How to Buy and Sell Cars Common Questions and we’re going to be talking about buying cars for profit. Is it still possible?
I just want to read out a quick testimonial that I just got from Clint of Prosper, TX.
Clint says “Hey Tony, I invested in your course early last month and it’s been a month now. And I want to say that I made $3500 in pure profit after applying the strategies that I learned from your course”.
Clint man, you rock!
See, this is what happens with people when they invest in something and take action in what they learn and actually do it. You’re going to make some money. He had one car that he was trying to sell. He got it all fixed up and he sold it. He bought and sold another car… so that’s two cars. He made $3500.
Man, there you go, Clint! Action speaks louder than words, alright?
I got a question here from Michael.
“Tony, what’s really keeping me back from getting started is the funds. How much money do I have to buy your course and buy my first car so I can flip?”
Well, my course is the peanuts, okay? My course is just a few hundred bucks. That’s really not the bulk of your money. The bulk of your money is going to come from investing in your first deals.
A few years back I said 500 to 1000 bucks… you can get started with this. Buy a beater car that you can fix and put a little bit of work in and flip it for around the 1500-2000 mark, around that area.
But nowadays, prices are going up across the board, everywhere. Cheap cars are getting a little harder to find but you can still find them. Don’t get discouraged. You can still find them. I still find them.
Your $3000-$5000 is a sweet spot. The best range to buy and sell at is $2500-$5000.
If you have 1500 bucks, I think that’s a good amount of money to get the first deal. So if you can find a deal for around a thousand. Just because a car is listed for 1500, doesn’t mean that you’re going to get it at 1500, right? Because you’re going to negotiate that. You’re getting down to as much as you can. Maybe $1000 or $1100.
Then maybe you put $150 into it. It’s worth $1800-$1900. Then you flip it and make yourself $600, $700, $800 on it. So that’s what you want to do.
Nowadays, if you have $1000 to $1500 to invest in your first deal… and when I mean deal, I mean buying it, putting up your little spruces and fixing it up and getting it ready to sell, you’re good. And that’s not a lot of money, you know? That’s peanuts.
If you have $2500 even better! Because you can buy a car for $2500 and easily make $1000 profit on it easily, in that range.
That’s another thing that I teach you in my course. Get started with $1000, buy and sell a car, get $2500. With that $2500 what you want to do, is at least double your money on that. So you can get two $1200 cars and double your money.
And you can do that. There are auctions all over the place. You can start at auctions.
I recommend that if you don’t know anything about buying in auctions, don’t get started at auctions. Start in the local private party market.
That’s another question we have here.
“Where do you find all these deals?”
Well, you find them on craigslist, in the paper, on other online classifieds. You have to keep looking. Just because you look one day a week for a half hour or an hour and you don’t find anything, it doesn’t mean that there are no deals out there.
You have to be consistent with this, every single day. Think of it as a job, of making money.
If you’re not willing to invest at least a half hour to an hour a day just in finding deals, then you’re not going to make money with this. You have to be constantly on the lookout.
And the best times to look are at night and in the morning. That’s when people post the most.
So you have to be on it. And it’s just that time is of the essence. If you’re the first one to call, the first one to look at the car, you’re going to be the first one to get the deal.
And I know that sometimes it’s just so hard because you’re working, you just don’t have the time to go drop everything and look at the car.
But once you get into it and if this is a side thing that you’re doing, and you don’t do anything else or maybe you have side business but you work your own hours, you could, at a drop of a hat, go and take a look at the car. If you have to do that.
That’s the freedom that comes with this, if you have your own side business or if you’re doing this full time like some people are.
That’s the way to get started.
Then once you’re on a roll, you know how to buy and sell cars. And you’re feeling confident, feeling motivated about everything, then go out and get your dealer’s license.
But some people don’t want to deal with that. And that’s perfectly fine too.
Alright, next question.
“I think the problem that I have is determining if a car that I’m looking at is worth the price and if I can make money on it”.
So, as long as you know the current blue book value or whatever that car is worth now, like when you look at the car, you have to think to yourself, “What is the least amount that I can get for this and let it go, if I had to? How much can I sell it for if I had to get rid of it?”
Because there’s a price for everything. At a certain price, anything will sell.
Once you know that number… Say you’re looking at a $2000 car and you know it’s worth $3000 fixed up and in good condition. But you know that if you had to get rid of it, you can at least get rid of it for $2500 fast. Then you know that you have to just buy it below that number.
If you can just get it for $2000 or $1800 or $2100… you know that you’re not going to lose money.
You make money on the buy. So that’s all it is.
You just have to be careful because once you get stuck on a car that you overpaid for, you’re stuck with it. You’re either going to lose out money on it, you’re either going to have to invest more money in it to get your money back.
Sometimes you’re not going to be able to sell it unless you invest more money in it to get it looking good of some sort or of working condition.
Whatever different scenarios it could be in. Sometimes that’s the case.
If you’re new. If you want to learn how to buy and sell cars for profit, there’s still a ton of opportunity out there.
There’s a lot of people out there saying, “You know there’s no opportunity in it. You can’t do it.” That’s just their mindset.
Don’t let other people condition your mindset. You have to be on your own level. If you think of abundance, and think of opportunity all over the place, you’re going to get opportunity.
If you think you can’t make money with this, then you’re not going to get it. So forget about it.
Forget about buying and selling cars. You’re not going to make money. You’re not going to be successful in anything that you do. That’s the bottom line of it.
It’s your state of mind and where you are. That’s it. That’s all I can say.
Anyway I don’t want to get too long anymore. That’s just what I want to cover in this quick video today.
Some people like my videos, some people don’t like my videos. Whatever.
If you want to learn how to do this, I have a special course that will teach you exactly step-by-step how to get started.
It doesn’t matter if you’re a senior citizen, a college kid looking to make some extra money. I will show you exactly how to buy and sell cars for profit. It’s not rocket science guys.
Make sure you get your Bikini Report that I’m giving away to show you exactly how you can copy my strategies and possibly do this for yourself and make some extra side money.
I hope to see you inside the F1 AutoCash Formula Course soon!
I’ll talk to you soon! Have a great day!
Other Helpful Links:
How Much To Invest When Buying and Selling Cars
Why Buying Cars from Auto Auctions Can Be Potentially Dangerous