Car Flipping Hustle

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 8 years ago '05        #1
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9 comments


DatNiggaBiz 2 heat pts
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$520 | Props total: 16 16
Car Flipping Hustle
 

 
courtesy of
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 The Hustlers Manual – Your #1 resource on the internet on how to make money!

Ease: Advanced

Skills Need: Negotiating , Mechanical, Closing the deal

Amount of Start up: At least $15,000 - $25,000

Now for this hustle you would need to have a few (if not all) of the hustles done in the small cap hustle section. The reason I say this is because the startup money used for this hustle are quite significant compared to some of the smaller hustles. There are two ways you can go about getting a really good price on a used vehicle. You can apply for a dealers license, this allows you to access car auctions and buy vehicles at wholesale prices. Requirements for a dealer license varies state by state for example in New jersey you need the following:

* You must have an established place of business with an outside sign and a showroom ( can be anywhere from just a large yard to an actual showroom)
* You need to have the proper state insurance on each of your vehicles
* You need to comply with all state regulation and pay the required fee

Once you have these requirements you can apply for the license and start buying vehicles from auctions. Just a heads up, state regulators do visit your place of business so it will have to look at least a little like a business. When you go to a dealer auction you will need to have a mechanic with you unless you know how to spot problems with vehicles and estimate repair cost accordingly. I also recommend you carry a netbook with you with an aircard (mobile internet). You can use this to look up current selling prices of vehicles during the auction.

Note : You have to be on point with your vehicle pricing because sometimes a**holes will raise the bid with no intention to buy just to make you pay a high price for it.

The second way you can purchase vehicles does not require a dealers license. However state laws does require you obtain one after you sell a certain amount of vehicles per year. This hustle is really profitable if done correctly so I recommend you obtain one anyway. You can use
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  craigslist.org to purchase vehicles from private sellers. You just have to make sure you have a idea of the maximum you can pay for that vehicle and make sure you come way under that. To determine a cars value you can use a site called
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 Kelly's Blue Book. All you have to do is enter the cars condition, value, and mileage and it calculates a average price you should pay for the vehicle.

Now keep in mind you still want to use sound judgment when buying (check what the same vehicle are selling for on sites like
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 Yahoo Autos and
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 Autotrader.com. Once you have purchased a vehicle and repair what needed to be done, have the car thoroughly cleaned and then sell using one of the above sites. If you get a good relationship with a mechanic and parts center you will greatly reduce your cost for repairs.

An example of this hustle would be lets say you purchase a 2001 Acura TL from a dealers auction. You can look to pay about $1,300 - $2,000 for one depending on the problem (keep in mind its a Honda, one of the easiest cars to fix). You can take about $2,000 - $3,500 to repair, paint, or do whatever you need to. So far you total investment would have been $5,500 now you can list this car for $9,900 (depending on the state and mileage). Expect to be chewed down on the price and always anticipate that when you list your vehicle. You should be able to sell the vehicle for about $8,900 - $9,000. Leaving you a profit of about $3,500 + if you hustled right. Now this all can happen in the course of one week. So if you do this multiple times a month your easily looking at almost 20k a month. Not bad for flipping bulls**t cars.

The more advanced version of this hustle would be flipping luxury cars with body damage, keep in mind you should do lots of due diligence before jumping into something like this.

courtesy of
[pic - click to view]

 The Hustlers Manual – Your #1 resource on the internet on how to make money! $19.99 a year for quality hustles and ways to make money image

9 comments for "Car Flipping Hustle"

 04-09-2010, 08:50 PM         #2
DarkSidesHero 
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This would be good if everyone wasn't always b**ching about the economy...
 8 years ago '04        #3
big jeffrey 
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$2,385 | Props total: 359 359
this would be good if i had that kind of money to start with
 8 years ago '04        #4
hockeythug 66 heat pts66
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$19,303 | Props total: 846 846
Post this s**t in this section:

 8 years ago '05        #5
kkkid 177 heat pts177
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$3,712 | Props total: 749 749
 Black Magick said:
Lol, I know a guy that's doing this out of his backyard at home. He makes pretty good money because he buys cheap cars from police auctions and sell them for a couple of thousand bucks after he puts a little work into it. It's not hard to do.
word i know someone who bought a car from a police auction, seats were all f**ked up and torn up but he replaced it and s**ts like good as new.
 8 years ago '06        #6
philly337 20 heat pts20
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$28,983 | Props total: 10642 10642
where u find police auctions?My boy flips cars from regualr auctions buti heard of people gettin some good as whips for cheap from police auctions (drug dealears pushing new whips that get auctioned off)
 8 years ago '04        #7
big jeffrey 
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$2,385 | Props total: 359 359
yeah me too man, i looked for police auctions but cant find s**t, i tried that .gov site i forgot the name, but its basically bulls**t, i need actual auction listings
 8 years ago '05        #8
DatNiggaBiz 2 heat pts OP
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$520 | Props total: 16 16
ask a mechanic they can get lots of listings. For the dude that said the hustle cost to much to start its because this its from the advanced hustle section on the site, if you attempt this you should have sum paper stacked from the beginner and intermediate hustles section.
 04-19-2010, 04:22 AM         #9
Yelsgnik 
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my brother has been doing this for years..he doesnt make 20k a month, but i know he makes some good money..dude hasn't had a real job in a min. Also, he didnt need 15k to start, he used school grant money and started off with like 5k
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