Market saturation is a double-edged sword. You have to look at how long a vehicle has been listed to see if it's going to move or not. In my area, a Camry will move but a Malibu will not. There aren't as many Malibus listed as there are Camrys but the ones that are listed have sat for months. Buy something that someone will want.
Great advice with regards to all the car flipping mistakes. I just wanted to add to all other viewers watching that getting the car flipping course 101 is a great investment if you are wanting to learn how to flip cars. Such a great manual and definitely worth the purchase. Thanks for the tips James ✊👊👊
Mechanics who know their stuff are now are in a great position to flip cars. Toyotas are excellent, as they are cheap, there is an abundance of parts, they are reliable, and in comparison, are easy for a buyer to maintain. They also have the connections to swap out parts and components. What time is lost on labor can be returned through good relations with the buyer in tune-ups and full services. The background knowledge the mechanic has with the car can be invaluable further down the line. Consider the mechanic being a doctor for your car who has a history in the health of your vehicle. Detailing is also extremely important. Even with an old model car, if it appears to be in immaculate condition, the driver will tend to take better care of it, and will think twice about even eating in the car.
I got my eye on a 2008 Porsche Cayenne at a local auction. I asked the auction house owner why it was listed for $3k. It appeared to be in pretty good looking condition. He says there's transmission issues. I looked up a used trans on eBay and found one for $500. Now I have to find out the cost of labor to replace it. NADA Blue Book says a nice specimen could sell for close to $10k. After detailing, PPF (at my own cost) and ceramic, $10k shouldn't be too difficult.
@@gunsnsails Definitely god lending you a helping hand, Im 99 percent sure that would have ended up being a nightmare, especially any foreign vehicle with a transmission problem.. You should just assume that whatever happened that took the tranny out was either because of lack of maintenance or it was being used and abused lol so it probley is going to need other things. Typically you don’t wanna base your cost of repair off the cheapest part you can find along with selling it for the highest amount it’s worth. The only thing i could find close to 500 was just the valve body but on average those trannys are around 1300 - 2700 on ebay depending on what it is meaning engine size and model if it was a GTS it might of been worth it but a transmission is definitely not a quick easy job. And not a sought after vehicle for anyone with 10k cash you would of been sitting in that for a while plus all the headaches that go into making it worth 10k trust me you got lucky that you didn’t get stuck with it
A bit confused - you initially said to look for top selling used cards and, in the end, mentioned that don't go for cars which are abundantly available. Doesn't one contradict the other? Like Camry would be top selling used car and many would be available for sale. Could you please advise? Thanks
Thank you for the tips! As someone interested in starting this, do you have to put the titles of vehicles into your name after buying? Or just keep the titles and transfer under the previous owners?
@@jeremiahmiller4640 from what I gathered, you should register it in your name, but that costs money/time and can only be done a limited # of times depending on the state you live in So some people will just keep it open and never transfer their name and only their future buyer they sell it too, but that’s illegal, but probably happens often I’m guessing
