I know a lot about flipping cars.
Here's my advice: Forget the car and read The Richest Man in Babylon, the world's first modern self-help book. In it, you'll learn about one of the "Laws of Gold" (AKA how to avoid being a broke scrub):
"Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar."
Basically, if you don't know WTF you're doing on a business transaction, you're going to get body bagged 99 times out of 100.
Quite a few people have messaged me asking if this car or that car is a good deal. I absolutely refuse to answer, because if you don't know how to spot and evaluate a deal on your own, you could get something valuable and still end up losing money. What if you get there and it's a flood car that's been reconditioned-you won't be able to tell. What if it's had CELs temporally disabled by an OBDII? You won't know. What if that feeling when the gear shifts isn't normal? What if it is? What if a bunch of lowballers hit you after you buy it, and nobody offers you your asking price-Did you make a mistake? Should you cut your losses?
This is not real estate, but it isn't flipping iPhones either. If you have 20K tied up in a car you can't sell with bills to pay, it gets real, real fast. I would not buy the car, and frankly, would probably avoid flipping all together. All curb-stoning is grey market, heavily taxed (especially in VA holy hell), and the government places tight tolerances even on the grey area you could hypothetically operate in without going to jail. Others are right, it's not scalable, you need a dealership to scale it out (and that'll cost you tens of thousands in taxes, bonds, and government fees in most states) and you stand to lose your shirt.
And before somebody comes in here saying, "But haven't you claimed to have made money flipping cars?"
Yes. But I never had to ask anybody for advice.
Here's my advice: Forget the car and read The Richest Man in Babylon, the world's first modern self-help book. In it, you'll learn about one of the "Laws of Gold" (AKA how to avoid being a broke scrub):
"Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar."
Basically, if you don't know WTF you're doing on a business transaction, you're going to get body bagged 99 times out of 100.
Quite a few people have messaged me asking if this car or that car is a good deal. I absolutely refuse to answer, because if you don't know how to spot and evaluate a deal on your own, you could get something valuable and still end up losing money. What if you get there and it's a flood car that's been reconditioned-you won't be able to tell. What if it's had CELs temporally disabled by an OBDII? You won't know. What if that feeling when the gear shifts isn't normal? What if it is? What if a bunch of lowballers hit you after you buy it, and nobody offers you your asking price-Did you make a mistake? Should you cut your losses?
This is not real estate, but it isn't flipping iPhones either. If you have 20K tied up in a car you can't sell with bills to pay, it gets real, real fast. I would not buy the car, and frankly, would probably avoid flipping all together. All curb-stoning is grey market, heavily taxed (especially in VA holy hell), and the government places tight tolerances even on the grey area you could hypothetically operate in without going to jail. Others are right, it's not scalable, you need a dealership to scale it out (and that'll cost you tens of thousands in taxes, bonds, and government fees in most states) and you stand to lose your shirt.
And before somebody comes in here saying, "But haven't you claimed to have made money flipping cars?"
Yes. But I never had to ask anybody for advice.