first car bought to flip

In reply to Per Schroeder:

"Ooooooh. Pics?"

Ask and you shall recieve. I haven't cleaned it yet...

Ok, what the heck...email me with particulars....

dyintorace wrote:

m4ff3w wrote: One day, I'll have a 750, but it will be a doner into an e28 (maybe e34?)

Not relevant to your flipping topic, but very relevant to your comment above. My mind = blown! http://forums.bimmerforums.com/forum/showthread.php?t=1759889

That was well worth the hour long distraction. lol That guy is a God when it comes to working on those cars. He could make a lot of money if he lived in the states.

I went through all 9 pages of that thread btw :P

JThw8 wrote:

Datsun1500 wrote: The best cars to flip are well known, cheap cars, like the Escort mentioned above. Non mainstream cars are a hard sell in most cases

Quoted for truth. So many people I talk to want to get into flipping so they have a chance to play with some interesting cars, but the path to decent profit and quick sales is in appliances. I've consistently made more money on flips with generic 4 door econo boxes than I have with anything interesting. If you are going to get into "interesting" cars you need to know the car, know the unique market for the car and outlets to sell it, and be prepared to wait a little longer for the right buyer. I had decent luck with fiats, alfas and aircooled VWs but only because I was heavily involved in those communities and knew where to sell it and what things to fix to make it desirable to the buyers in the market.

I'll 3rd datsun1500's statement and add to yours JThw8.

Here are some keys I've learned when flipping cars (Note: I always turn a profit on a flip. Average profit is $800)

• Flip cars you know people want to buy. ie: compact, mid size japanese (mostly) sedans

• Flip cars that are at or around the $3K price range or less. (this doesn't always apply as you can go up to $5K and do well with cars in that range too) Why? People are hurting out there and don't have much money. Their credit is shot and the down payment money they scrounged to save has to be spent on a used car bc they can't get approved for a lease or a loan at a dealership. They are just looking for reliable A to B transportation.

• Don't ever buy a car to flip from someone who is flipping the car. I made a video here showing how to spot them very easily :) Trust me you don't want their sloppy seconds.

• Always get a VIN and check vehicle history before you even go look at the car. You'll save yourself a lot of wasted trips, gas, and time you'll never get back.

• Always list your car for at least $400 - 600 more than what you really want for it. This leaves room for potential buyers to haggle you down and feel good about getting a "bargain".

I have more but my fingers are smokin :P

Nice job on the Bimmer flip OP :)

V12 + E34 would be nice . . . but you are sorta stuck with the Auto box. Running V12s are CHEAP around here because all of the other electronic dodads go TU. Finding a V12 E32 for less than a grand is not rare. Part it out (or scrap) and have about $2-300 into the engine, wiring, ECU, and trans.

That build on BF.c is truly awesome. If manuals where easily adapted and not so $$$$$, I would fancy a E34 touring with a V12.

Awesome job on the flip!!