Anyone Flip Cars Here?

I do but mainly just because I own a shop and it's something to keep the guys moving if we get slow. I only flip one if I estimate the profit is going to be at least $3-4k or better. If you're an honest person you will lose sometimes. Also being an honest person you will spend much more money to fix things using quality parts that car dealers never would dream and your average customer only cares about the bottom dollar. So the risk becomes greater. I sold a truck and bought it back two weeks later with a bad engine plus paid for the new stereo he had installed. Had about $6k into a $9k van when the engine went to crap, got $3k for it a few weeks ago. I'm done for awhile because of those. Also have strung several good ones together and made around $20k extra pocket money in less than a year (I bought a '66 Ford with it).

The key is to keep the money rolling into itself so you can buy newer, nicer cars with bigger margins. Then cash out as some point when the nugget is big enough. If you're constantly cashing out every flip you're not going to get far. When the truck market wasn't so insane I flipped several Silverados for great profit. Stick with cars you know, you can estimate your profit on the fly making a buy much easier. Not sure about your state but we're only allowed to sell 6/year here in Missouri without being a dealer so choose wisely!

Also people will haunt you...guy bought an Explorer I sold with a rebuilt transmission...his words at the sale were "What's your never ever call you again price?". Guess who called THREE YEARS later trying to get me to warranty the transmission!?

Oh, GOOD PHOTOS! I pay a guy $50. And it better be shining.

I finally sold the gold Taurus 2 weeks ago for $2k. I had $920 in the purchase price plus parts, then I gave a $100 finders fee to the buddy who found a buyer because I was getting really sick of flakes. Wouldn't have done nearly as good on the car if I didn't recycle the tires from the car my sister recently totaled onto it. Oh well on to the next one.

Has anybody sold on Bringatrailer? I sold this RX-7 on there. Not going to tell you the purchase price but suffice to say I bought it from my neighbor as a non-runner. The process was nerve wracking but a ton of fun once the bidding started to get serious. I was actually on an anniversary date with my wife in the last hour of bidding and she was so pissed at me becasue I could not stop staring at my phone and cheering every time a bid was placed.

FasterBass said:

Has anybody sold on Bringatrailer? I sold this RX-7 on there. Not going to tell you the purchase price but suffice to say I bought it from my neighbor as a non-runner. The process was nerve wracking but a ton of fun once the bidding started to get serious. I was actually on an anniversary date with my wife in the last hour of bidding and she was so pissed at me becasue I could not stop staring at my phone and cheering every time a bid was placed.

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I love the black/red color combo. Sharp. Hard to believe they were only rated at 100 horses. I bet it weighs around 2500 lbs tho.

Tonyrodz said:

I love the black/red color combo. Sharp. Hard to believe they were only rated at 100 horses. I bet it weighs around 2500 lbs tho.

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It was so slow. Those motors were choked with the OEM smog equipment. Even if it was light I still got beat by a ratty 90s civic with a fart can.

FasterBass said:

It was so slow. Those motors were choked with the OEM smog equipment. Even if it was light I still got beat by a ratty 90s civic with a fart can.

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Still cool cars tho. Back in the day I saw one that had a Chevy small block conversion.

FasterBass said:

Has anybody sold on Bringatrailer? I sold this RX-7 on there. Not going to tell you the purchase price but suffice to say I bought it from my neighbor as a non-runner. The process was nerve wracking but a ton of fun once the bidding started to get serious. I was actually on an anniversary date with my wife in the last hour of bidding and she was so pissed at me becasue I could not stop staring at my phone and cheering every time a bid was placed.

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my first car!
Even the same color, but mine was black on black with a manual transmission.

I can't believe how much those things are worth now, I so wish I could have kept mine.
but the apex seals were going, and giving the classic hard to start symptoms.
I wasn't about to try messing with it, plus I ended up getting a really clean K5 blazer to replace it with.

A very fun car, that thing loved to rev.
It was hard to keep it off of the red line alarm.

and with my latest project, a 2007 Jeep Wrangler Unlimited that I picked up for 5k with a rod knock.
I think I can have it fully sorted and still be under 8k (worst case).
KBB value on that thing is just under 13k!

Around here I could probably get 14k for it...

It has me tempted to make some coin, but I'll probably just enjoy it instead.
Unless I get laid off with the current concerns with tech jobs, then maybe it will hit the market...