Today’s topic is all about Quick Flip Market Research for the Lazy Car Flipper.
Market research is the most important thing. You need to know what to buy, how to buy and how to get a good deal.
The lazy way to know how to get good cars. Everybody likes economical cars. Go Asian cars, such as a Toyota. Asian cars are known to be very dependable. They are good cars and last longer.
Again, this is a general rule for the lazy man’s way to do market research. Get cars that are (1) ECONOMICAL, (2) ASIAN, and (3) not older than 15 years old. Generally speaking, you want to stay within 10 years.
Here are some cars that you need to watch out for: Mazda, Nissan, Toyota, Subaru, Honda and my two favorites – Hyundai and Kia.
I like to buy the Kelley Blue Book to get the general ball park pricing of a car. Everybody buying a car is looking at the Kelley Blue Book. Some check the online version, but I always recommend they physical Kelley Blue Book.
Pickup trucks and 2-seaters sell really quickly. Sedans are great to flip as well, especially if going towards the summertime.
Yes, I did get a Lamborghini and the plan is to play with it, drive around with it and make some cool videos. I’ll probably sell it in about 6 months to a year. I will probably make 10,000-15,000
Based on the research that I did, exotic cars and high end cars takes about 3-6 months to sell because not many people have the money to buy such cars. I know during the winter, these types of cars don’t really sell.
Most probably, I will list it to sell during the summertime, around May to July. In the meantime, I will have fun with it.
Another thing is that because it is an expensive car, I will pay 6% in taxes which is about $5,000 because I will get it registered under my name. It’s the most I ever paid. Even so, I’ll still make money on the flip. I just don’t want to say too much about that now.
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It’s Tony from F1 AutoCashFormula. Thanks for joining me today. Please Like, Share and Subscribe to my videos.
Talk soon! Cheers!
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