[Gee]

I’ve flipped easily 100 cars in my spare time since I started, and I’ve NEVER took a loss. I made only a few hundred dollars a few times, but that’s it. You have to make rules that you follow and stick to them. Learn to walk away and know car values and costs to their parts to get good deals when BUYING the car. You make money ON THE BUY! STOP BEING THE FLIP!

[Lonnie]

You say you never loss money. Do you count all your time at fair shop labor and parts mark up?

Do you count your time dealing with buyers, and time advertising? I have done this for 35 years, and have made tons of money doing so. This is what I do full-time and support my family in the process.

I have sold tons of cars for losses, it happens. But I figure every minute of my time.

I am a master Tech with a full service shop and body shop, and I lose money on cars occasionally.

I am honest and live in the real world.

[Robert]

If you’re mechanical inclined.

it helps.

[Greg]

Coming from the guy who doesn’t know the cost of doing business.

He doesn’t figure in the value of his time. The costs associated with looking for and buying them and all the other expenses related to it.

[Joe]

For sure, it helps to have had experience as a tech at some point and know how much work is involved in fixing whatever is wrong and how much the parts are going to cost.

Personally, I always factor in about 500.00 even more sometimes than whatever it is going to cost to make whatever repairs are needed.

Just for miscellaneous or unexpected repairs.

Sometimes it’s not needed, and that’s great.

[James]

You said never taken a loss? Even pros (dealers and shops) take losses all the time.

[Gee]

I’ve never lost money on any car
And I 2-4x my money
But I don’t just make a couple of hundreds
Always thousands.
It’s better to wait and buy 1 car and make 5k
Then buy 5 cars to make 1k each

[Joe]

Sure… But have you ever done it “right” with the overhead of a legitimate business?

Would be interesting to watch a flipper try to succeed as a dealer. Would make a good television show.

(I didn’t.)

[Author]

Posts