Does anyone make any good cash by flipping cars/autos?
I have been thinking of doing this (have a few mechanical skills) and wondered if any BH'er was doing this successfully at the moment.
When the $50 Paint Job method was popular, I was doing it. I sold cars in my name, all of my friends and family members names. I went after trucks mostly, and import cars. Both seem to appeal to buyers in my area that wanted these cars with a decent paint job that I only spent about $100 on. I had months where my profit was $20k. Got too big for my britches, got too many cars, became too lazy to work on all of them.
Every once in a while I'll find a nice riced out car with a bunch of modifications and I'll completely tear it apart and sell it piece by piece on eBay or something and then sell the car as a shell. Did this with more than enough Toyota Supra's, and of course, Honda Civics. People will dump $10,000 into parts for a car that cost $1,800. They of course can not sell it for anywhere close to $10,000 because modifications don't really increase the value of a car like that. So, you pick it apart, and sell it off to other people who are also dumping so much money into cheap cars. I was the most profitable with Supra's, because I could REALLY low ball these people, and selling Shells were always so easy, poor people with big dreams seriously thought they could afford to piece together a complete Supra from a shell they are paying $2,000 for. However, you need to be able to spend $20,000 or more on a modified one that could very well have about $50k worth of parts. Very few other people can do this with such costly modified cars (and regular consumers actually don't want modified cars, especially at this price) so my competition was low. So on SupraForums, I would find a guy trying to sell his modified Supra for $30k, and I would low ball him to $20k
IN PERSON WITH CASH IN HAND, then turn around and sell the parts on the same forum for a total of $10k profit the same month.
