Today’s topic is The Car Flip – A Humble $900 and $2,700 Profit on First Car Flips, Hear The Story! This is an interactive training. Thank you for jumping in.
I have an email that I’m going to read out to you guys from a VIP member who tells us about the profit on his first car flips after investing in the program.
I would like to say thank you. I’ve been watching your videos on YouTube for years and learned a lot from you about cars. I’ve always wanted to buy and sell cars for profit but I was scared to jump in, because I thought I would lose money on the deals. I felt like I would never get started because of this fear. Three weeks ago, I was on your YouTube live and you pushed me over the edge when you talked about fear. I was really skeptical because on the net, there were a lot of scams, so I did the research and couldn’t really find anything bad about you, mostly all good, and you seem to be an upfront and honest guy, so I bit the bullet and invested in the VIP program.
I didn’t have much money to start with nor did I know much about cars. I’m actually still learning about them especially the little mechanical things. I started with $1200 and ended buying a $2004 Hyundai that needed a break job and new tires. I didn’t have money for repairs, so I borrowed $500 from a good friend. Then, invested about $1450 for a quick detail. I listed for $2550 OBO and sold it for $2300 within two days of posting the ad. I was in shock!
There was another deal that I found while my car was up for sale. The next day, I immediately took that money and picked up a 2002 Jeep for $2200. I listed it at $5950 and sold it a week later for $4900. I must have put $50 into deal for a few dress up items like you said. This is a life changing month for me. I have a vacation planned this weekend with my wife. We’re going to stay at a local hotel, top floor with an amazing dinner. Thank you so much, Jimmy.
Congratulations, Jimmy for taking action! It’s all about having faith and just doing it. This is an incredible testimonial. There is always opportunity out there.
Question: Keep having issues with the question, “Why am I selling the car?”
Well, you’re selling it because your wife doesn’t like, or you want an automatic, or you’re moving to a sports car or you’re moving neighborhoods.
Question: What do you think about buying salvaged vehicles?
I think salvage cars are a great buy, if you know how to buy them and inspect them. You can go to a salvage title specialist and have it classified as salvage rebuild.
If you buy a salvage car, you can’t just drive it because you need to go to a liensed auto body shop where they can certify your car as a salvage rebuild. They will then issue a certification which you will need to get it registered.
I like salvage cars for personal use, because you can get them inexpensively and drive them for years and sell them at break even. You can flip them, but you can’t sell them as high as a non-salvage titled car.
You need to know what you’re getting. I don’t recommend buying salvage cars because it’s been in a flood, computer problems or electrical. That’s the worst kinds of mechanical fixes. But, if it’s more of a theft or accident reasons, it’s easier to get it fixed.
I cover all of those within the F1 AutoCashFormula VIP Program. I cover every aspect of flipping cars for profit including negotiating.
Question: Should I have to fix minor blemishes just to sell a car?
Do what you can. If it’s going to take you an hour to make the car look better, invest your time in it and do it.
Question: Would you sell a car cheaper than what you bought it for if it’s not moving?
Absolutely. Sometimes, you have to take your losses and move on. I’ve never lost out on cars. I’ve broken even on some, just to get rid of it, have the money back and invest it on other cars.
Maybe try to improve your ad a little bit. There are ways to structure your ad. I show you the best formatting to layout your ad and make it an even better deal within the VIP Program.
Question: Is it okay to buy from wholesale dealers?
I used to buy from them. I used to buy from my wholesale friends in Hawaii. I’m always profitable when I buy deals from them.
Question. Avoid American cars.
Absolutely. I stay away from them unless you are getting a classic.
Question: What tips do you have in finding deals?
You just have to be consistently finding deals. Always be scouting for tips. You need to do your research, start studying your local market and know what the values are. You need to know a good deal when you see them.
If you see deals that are too good to be true such as no phone numbers and some weird email contact and most of the time, they want to pay through Paypal or through eBay, be careful about those. Most of the time, they are scammers.
Question: Why don’t you suggest auctions to deals?
There are a lot of newbies going to the auctions and they drive the prices up and not really getting deals. You need to have an insider to really get the deals because they pull cars aside and keep the best for themselves.
It’s fine going to auctions, but you have to know how to buy right. You also have to put your ego aside if you’re competing with someone. You cannot get into bidding wars, bid on something and get a deal that you paid too much for.
Question: How can I get a dealer license?
You can hook up with a dealer where you can rent their dealer license. You can also check out GetYourDealersLicense. If you want to know more about how to partner up with a dealer to go into auctions and get deals.
Question: Can I do five cars a year?
You can do more than five cars per year under your name. You can partner with other people too. Again, I reveal a lot of things within the F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars. But, I have a disclaimer there that says, I am not responsible for your results.
I show you all of the strategies and give you a lot of information, but what you do with all these information, is your responsibility. Good luck to you and to your success.
Question: Would you recommend buying only automatic cars since a lot of people don’t know how to drive manual?
This is a great question. It depends on the market and on the vehicle. For me, if you’re buying a sports car or a convertible like the Miata or Ford Mustang, you get manual because that’s what most people like when they buy a sports car.
When they get sedans, people want an automatic because it’s easier to drive in traffic. A lot of people also like a manual pickup truck because of work or whatever they are hauling.
Let’s call it a night. I have to get going to meet up with some people. Thank you for getting on tonight. I had a great time with you. If you want to learn more about flipping cars, grab your FREE Report.
Check out my F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars Program for all the strategies that I’ve talked about here.
I will show you everything you need to know about buying and selling cars for profit. I’ll give you all the guidance that you need and share with you all the important strategies that you should know.
I highly encourage you to take action now, start learning, invest in yourself and make a better life for you and your family
It’s Tony from F1 AutoCashFormula. Don’t forget to Like, Share and Subscribe to my videos. Join me again next week, Wednesday at 9pm.
Talk soon! Cheers!
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