Anyone Flip Cars Here?

[Jason in DLH]

I thought it’d be a great hobby to buy up neglected cars (making sure to thoroughly examine it to negotiate the price down and to make sure you can make a profit after any repairs). I believe there’s a potential for great side income here.

 

[Tonyrodz]

I thought it’d be a great hobby to buy up neglected cars (making sure to thoroughly examine it to negotiate the price down and to make sure you can make a profit after any repairs). I believe there’s a potential for great side income here.

I think @Dantheman1540 does it sometimes.

 

[Dantheman1540]

Yeah I typically buy at least 2 cars a year and do that. Last one was a ranger current one is a taurus. I like having a beater around and a few hundred bucks cash profit helps fund projects or guns.

Biggest issue is finding stiff that runs but is cheap enough to make money on. If you don't own a trailer the tow bill typically kills the profit margin.

 

[Jason in DLH]

Good point on the tow truck. What’s your average profit? And most profit on a car?

 

[Dantheman1540]

Also having a business tax ID to run the flip cars, occasional in shop repair, and mobileechanic work through means I can write off all my tools, shop supplies, Tahoe, and trailer.

Not highly profitable but I don't technically lose money. Depending on who you ask

 

[iamdub]

@Doubeleive used to flip cars.


Oh, that kind of "flip".

 

[Dantheman1540]

Good point on the tow truck. What’s your average profit? And most profit on a car?

I shoot for trying to make $1k+ because there's always a hidden $500 of stuff you didn't plan on. So I'd say a safe average is $500-$700.

Most profit was a mid 90s k1500 with a "blown" but almost new GM crate motor. Got it for $350 cause it was in a parking lot and they were about to get a fat fine for it sitting. Rope towed it home and found multiple spark plugs about to fall out essentially making a motor with no compression. Guy gave me the title but I never signed it, sold it to a guy for his hunting club for $3,500. I had no more than quarter tank of gas and $350 in it never even paid to have the title transferred lol.

That's rare and only happens when you have good contacts and cash in hand ready to roll.

Not the only (broke down in a parking lot about to get fined) deal I've done. Just fixed a bad head gasket that wasn't for a buddies POS civic. Bled the brakes fixed some vacuum lines and a few other basically free fixes for $500 cash. Did tow it both ways as well but it was for a buddy so cant murder him on pricing.

 

[wjburken]

Also having a business tax ID to run the flip cars, occasional in shop repair, and mobileechanic work through means I can write off all my tools, shop supplies, Tahoe, and trailer.

Not highly profitable but I don't technically lose money. Depending on who you ask

I’ve thought about doing this as well. I already have a tax ID number for other business that I do on the side. Love being able to depreciate tools, mileage, etc.

 

[Dantheman1540]

I’ve thought about doing this as well. I already have a tax ID number for other business that I do on the side. Love being able to depreciate tools, mileage, etc.

Anything to dodge the alphabet boys!

 

[Derick]

theres an 01-06 burb on offerup right now for 800 bucks. claims it needs a oil pump...im wondering if its just the sending unit....consider a flip on it.

 

[Dantheman1540]

theres an 01-06 burb on offerup right now for 800 bucks. claims it needs a oil pump...im wondering if its just the sending unit....consider a flip on it.

Easy to test on sight. Even if it's an oil pump that's labor intensive but cheap to fix. Could chop it and make a profit

 

[iamdub]

I shoot for trying to make $1k+ because there's always a hidden $500 of stuff you didn't plan on. So I'd say a safe average is $500-$700.

Most profit was a mid 90s k1500 with a "blown" but almost new GM crate motor. Got it for $350 cause it was in a parking lot and they were about to get a fat fine for it sitting. Rope towed it home and found multiple spark plugs about to fall out essentially making a motor with no compression. Guy gave me the title but I never signed it, sold it to a guy for his hunting club for $3,500. I had no more than quarter tank of gas and $350 in it never even paid to have the title transferred lol.

That's rare and only happens when you have good contacts and cash in hand ready to roll.

Not the only (broke down in a parking lot about to get fined) deal I've done. Just fixed a bad head gasket that wasn't for a buddies POS civic. Bled the brakes fixed some vacuum lines and a few other basically free fixes for $500 cash. Did tow it both ways as well but it was for a buddy so cant murder him on pricing. View attachment 265590 View attachment 265591

I miss my EG coupe! EX, D16Z6, manual trans, super clean. I beat on it every day, constantly wound it out to 7,500, caught air almost every morning going to work, repeatedly slid it sideways or 180° by yanking the parking brake, J-turns (no ABS) and it was always ready for more and refused to get less than 27MPG.

 

[Dantheman1540]

I miss my EG coupe! EX, D16Z6, manual trans, super clean. I beat on it every day, constantly wound it out to 7,500, caught air almost every morning going to work, repeatedly slid it sideways or 180° by yanking the parking brake, J-turns (no ABS) and it was always ready for more and refused to get less than 27MPG.

Can't kill the dang things! I used it to pull my flip Taurus out of the sand the other night took a couple good clutch dump snatches but it did it! I know the Tahoe probably would have pulled it out by gingerly releasing the clutch and little to no throttle, but that's way to boring.

He may be looking to K swap it next year and wants me to do it which would be a riot.

 

[iamdub]

He may be looking to K swap it next year and wants me to do it which would be a riot.View attachment 265621

https://www.hybrid-racing.com/

My cousin helped to get them off the ground floor. He actually performed a K-swap by himself over a weekend just to see if it could be done with normal tools and off-the-shelf Hybrid Racing parts. They literally left him at the shop at close of business on Friday evening and when they returned to open on Monday morning, he was finished and waiting on the tuner to tune the ECM.

 

[Doubeleive]

yep, upside down

 

[Jason in DLH]

This is all great! Just the motivation I was looking for!

DanTheMan...do you simply fix the mechanical stuff, fluid changes, etc and flip it or do you do a serious detail too? You know...get the paint looking nice, tire dressing, engine bay cleaning, remove the seats for a complete shampoo of the carpet and stuff like that?

 

[Tonyrodz]

This is all great! Just the motivation I was looking for!

DanTheMan...do you simply fix the mechanical stuff, fluid changes, etc and flip it or do you do a serious detail too? You know...get the paint looking nice, tire dressing, engine bay cleaning, remove the seats for a complete shampoo of the carpet and stuff like that?

I'd think that would be the best way to get the most $$ out of the flip--PLUS--I bet you'd find some good stuff under the front or rear seats.

 

[Jason in DLH]

Agreed!

 

[Doubeleive]

I have thought about but dam of some these cars around here are straight ghetto fabulous, they will tell you it needs one thing when in reality it needs about 5 more things... lol
these people will run it till the wheels almost fall off and still want a grip for it.

 

[Jason in DLH]

Ha! True that!