Tuesday, June 28, 2011
Why Used Kelly Blue Book Values
by dok1Why Used Kelly Blue Book Values Get the value of your car before you purchase it sell it, or trade in, you'l ... http://bit.ly/lgGKXu
Sunday, June 26, 2011
Pre Purchase Car And Vehicle Inspection
Pre Purchase Car And Vehicle Inspection Buying an used car can be risky. When buyers the opportunity to prove emoti ... http://bit.ly/jQ8sZu
Car Talk: Predictability a safer course than politeness
Car Talk: Predictability a safer course than politenessDear Tom and Ray: I read your column all the time and valu ... http://bit.ly/kAKsYT
Friday, June 24, 2011
Selling Used Cars Or Trucks? Find Out How To Sell More!
Selling Used Cars Or Trucks? Find Out How To Sell More! Selling your used cars or trucks can sometimes be a dauntin ... http://bit.ly/mcZz73
Wednesday, June 22, 2011
Preparation Regarding for classic car restoration
by JoeG2007Preparation Regarding for classic car restoration Classic car restoration is really a trendy hobby among ... http://bit.ly/jqW9ki
Saturday, June 18, 2011
How to Make Money Buying and Selling Cars for Profit
by nzlawyerHow to Make Money Buying and Selling Cars for Profit Want to know how to make money buying and selling ... http://bit.ly/lZoXgb
Thursday, June 16, 2011
How to Make Money Selling Monavie
by PowderrunsHow to Make Money Selling Monavie Selling MonaVie can be difficult, especially when people don't unde ... http://bit.ly/iiq50g
Tuesday, June 14, 2011
Auto Restoration in Houston-texas
by mseeryAuto Restoration in Houston-texas Any person who has even the slightest experience of auto ... http://bit.ly/j4h6WQ
Friday, June 10, 2011
Regular Auto and Truck Repair and Maintenance Ensures Good Results in Auto Inspection
Regular Auto and Truck Repair and Maintenance Ensures Good Results in Auto Inspection Auto inspection is the term c ... http://bit.ly/kSvna1
Thursday, June 9, 2011
Car Value Calculating Tips
by # - * - + P A T T Y + - * - #Car Value Calculating TipsThe automobile is one of the most useful tools toda ... http://bit.ly/lVE96u
Thursday, June 2, 2011
Using KBB (Kelley Blue Book) To Flip Cars
Using KBB (Kelley Blue Book) To Flip Cars and Encourage BuyersThe Kelley Blue Book( or KBB for short) used ca ... http://bit.ly/kdaPNm
Want To Flip Cars? Why Buyers and Sellers Should Get A Car Inspection!
Why Get A Car Inspection?Regardless of whether you are looking for a car to flip or selling a used car, orderin ... http://bit.ly/lZMmKK
Monday, May 30, 2011
How I Flip cars. My current flip is the 2000 Range rover
Ok people, as promised I said I would be blogging about how I flip cars and my current projects so here it is. This ... http://bit.ly/kCfrgK
Update: 2000 Range Rover Car Restoration Complete
Range Rover Go VROOOM VROOOM, Car Restoration Complete! Hey guys, sorry for the long delay inbetween ... http://bit.ly/krA5Gi
Sunday, May 29, 2011
Sell Your Car Quick - Where to Place Ads
How to sell your car quick. Coming up with a marketing strategy to sell your car can be a daunting task. If you do ... http://bit.ly/jwTDb1
I'd like to Flip cars, but what kind of cars should I buy?
Well the first thing I like to do when I flip cars is go to my source for finding public and government auctions (There is a free trial but after that there is a one-time fee of around $40. This grants you a lifetime membership and you do not have to be a dealer to be a member) and look around at approaching auctions in my area.
For instance, I see one that is coming up this week with about 175 cars and trucks. As I examine the list, I find 5 2004 Ford Focus’s. Now I usually do not care about Focus’s one way or another, but the miles on these are excellent. Three of them have between 31,000 and 34,000 miles. And the other 2 has 39,000 and 40,000. For inexpensive, 7-year-old cars, this will be a massive selling point.
The auction listing also shows me that these vehicles were previously "government owned". That explains the low miles and now I'm definitely interested. It is very probable that these were driven by local government office employees when they had to venture out into the field, apparently not often our case. The great thing about it is that government owned vehicles are normally very well maintained, so these 5 vehicles are looking like primary examples of vehicles I can buy extremely cheap and flip for a profit fast.
Alright, so the next thing we do when we flip cars at these auctions, is set up a max bid target price, so now I look for the trade-in value of these vehicles. If I use Kelley Blue Book, that is really just a rough estimate that can be off by alot. To make sure, what I try to find out is what are Dealers paying for this car at dealer auctions. This is the True trade-in value.
Now I know where to get this information, but most of you won't. Don’t worry, Here is how to get it:
Call up a nearest loan department of your local bank and inquire about a Manheim Market Report (MMR) price. Most banking institutions worth anything subscribe to this information. If yours doesn't, just call another bank.
Nevertheless, you will learn that the average selling price for 2004 Focus’s in good condition at these dealer auctions are $2,300 (this is a car or trucks true trade-in value).
However, the Focus’s I am interested in are way under average in miles and would more than likely go for way more than this at the Dealer auction. So because these vehicles are at a public auto auction, where prices are normally lower, I’ll set my max bid at no more than $1,500.
Next I go to autotrader to see the selling prices for these in my local market. I see they are selling on average for around $3,600, but they have two or three times the mileage my potential flips have. So, I will look for a selling price of $3,500 and my car will jump right out at potential car buyers. I’ll likely sell it in a day or two. However if it does not sell in a weeks time, I'll simply lower the price to $2,900 and it sure enough will be sold.
At these prices, a vehicle with low miles are usually irresistible to anyone looking for inexpensive transportation, or looking for a vehicle for a child to get around town or college. And whether the net profit is $1,400 or $2,100, it’s nice for a few hours of work, and this is why I flip cars for a living!
For instance, I see one that is coming up this week with about 175 cars and trucks. As I examine the list, I find 5 2004 Ford Focus’s. Now I usually do not care about Focus’s one way or another, but the miles on these are excellent. Three of them have between 31,000 and 34,000 miles. And the other 2 has 39,000 and 40,000. For inexpensive, 7-year-old cars, this will be a massive selling point.
The auction listing also shows me that these vehicles were previously "government owned". That explains the low miles and now I'm definitely interested. It is very probable that these were driven by local government office employees when they had to venture out into the field, apparently not often our case. The great thing about it is that government owned vehicles are normally very well maintained, so these 5 vehicles are looking like primary examples of vehicles I can buy extremely cheap and flip for a profit fast.
Alright, so the next thing we do when we flip cars at these auctions, is set up a max bid target price, so now I look for the trade-in value of these vehicles. If I use Kelley Blue Book, that is really just a rough estimate that can be off by alot. To make sure, what I try to find out is what are Dealers paying for this car at dealer auctions. This is the True trade-in value.
Now I know where to get this information, but most of you won't. Don’t worry, Here is how to get it:
Call up a nearest loan department of your local bank and inquire about a Manheim Market Report (MMR) price. Most banking institutions worth anything subscribe to this information. If yours doesn't, just call another bank.
Nevertheless, you will learn that the average selling price for 2004 Focus’s in good condition at these dealer auctions are $2,300 (this is a car or trucks true trade-in value).
However, the Focus’s I am interested in are way under average in miles and would more than likely go for way more than this at the Dealer auction. So because these vehicles are at a public auto auction, where prices are normally lower, I’ll set my max bid at no more than $1,500.
Next I go to autotrader to see the selling prices for these in my local market. I see they are selling on average for around $3,600, but they have two or three times the mileage my potential flips have. So, I will look for a selling price of $3,500 and my car will jump right out at potential car buyers. I’ll likely sell it in a day or two. However if it does not sell in a weeks time, I'll simply lower the price to $2,900 and it sure enough will be sold.
At these prices, a vehicle with low miles are usually irresistible to anyone looking for inexpensive transportation, or looking for a vehicle for a child to get around town or college. And whether the net profit is $1,400 or $2,100, it’s nice for a few hours of work, and this is why I flip cars for a living!
Wednesday, May 11, 2011
Up & Running
Finally got the range rover up and running! Also got the new windshield installed ($225). Got a great deal on the windshield. Apparently this vehicle has a special windshield which usually sells at the land rover dealer anywhere from $500 to $800 bucks. I'm told the windshields are equipped with all kinds of heat and rain sensors. Very productive day yesterday. Today I'm getting it detailed and prepped for advertising. My plan is to do a marketing blast on all the free classified ad sites I can find such as craigslist, ebay (Local classifieds) Oodle etc.... With a selling price of $3950. She looks great, and now runs great. The head gasket job was a success and fixed the overheating problem it came with. Now it's time to sell. Be back later with updates...
Tuesday, May 10, 2011
Good Range Rover site for reference
Just wanted to give major props to this website http://www.rangerovers.net For listing some common problems and fixes for these range rovers. So much valuable info there. We are still trying to diagnose the starting issue. Hopefully we cna figure this out by the end of the day.
Car# 1, So Close!
Well, the engine has been put back together, however now she doesn't want to turn over. We ran some test last night, and it is not firing from coil pack. We've narrowed the problem down to either a bad coil pack, or an anti-theft engine immoblization glitch. We'll contine to work on it today and finally get this car done. Will update again later...
Sunday, May 8, 2011
Car# 1, Almost there.
Well, me and my mechanic are about 75% done with the head gasket job. I've been lending a helping hand anyway I can with this head gasket job. Mainly to save on cost! Don't get me wrong though, I certainly didn't skimp on the quality. We're doing this job the right way. We've had the heads cleaned, valve checked and resurfaced. Put in all new Head bolts, and gasket set. Degreased the entire engine while it was apart. Drained old oil and coolant. Now in the process of putting everything back together with proper torque specs. Can't wait to see the results. Will have some pics coming soon...
Friday, May 6, 2011
Car# 1 Update
Quick update here. Today the head gasket job should be done. Will then shop around for auto glass pricing on the windshield. From what i've been reading on range rover forums, the dealer charges anywhere from 600-800 for this windshield(WOW!). Hopefully I can find a much better deal than that, or this will be a losing investment! =(
Wednesday, May 4, 2011
Car #1 2000 Range rover, Whats that I smell?
Hello Folks, and welcome to my blog. I plan to make this into a daily piece where I update the blog and any of my followers on my progress in flipping cars I purchase through various resources. I've flipped cars before, but always part time and never for an extended period of time like I plan to do now.
With this renewed car flipping venture I am about to embark on, I've come up with a more precise and cost effective approach in picking the cars I plan to buy. Also with me documenting my progress in this blog, it will help me look back and see the things I could have done differently and help me tweak my approach the further I get in this car flipping business.
Anyways, lets just get right into this.
Car# 1. I've just bought at a public auction. Went into this auction with a list of 22 vehicles to inspect and possibly bid on, and came out with this gem although with not so great discipline. You see I had some rules for myself before I went into this auction:
- Only bid on the vehicles I had previously researched on my list. [CHECK]
- Also inspect all the vehicles that were on my list before the auction was scheduled to start. [FAIL]
- Do not bid on vehicles in the lane that were not inspected by me prior to auction. [FAIL]
This 2000 range rover was on my list of vehicles to bid on. I did get to inspect 16 of the 22 vehicles that were on my list, unfortunately the range rover was one of those vehicles I missed making it a clear do not bid item. So I broke my rule and hopefully I will not pay for it in the end. The bidding on this item started at $2400 and quickly made its way down to $1800 before I placed my bid. When I look back at it, I probably should have waited for it to drop lower before placing my first bid. I will need to keep that in mind for next time. When the price reached $1800, my max bid was $1900 as recorded on my sheet, and I got a little to trigger happy and went in for my bid. I was the sole bidder and ended up taking her home. The rover looks great cosmetically and I was excited about this purchase. However I started to second guess myself when I first entered the vehicle. First thing I notice as I turn on the vehicle is a check engine light along with an error message on the dash that read traction fault. I then had to move the vehicle to guest parking, so as I go into reverse and give it gas..I notice no power. Its moving like a turtle in reverse!! Samething as I go forward!! Too make a long story short, I don't get more than 5 miles before I pullover due to overheating and the smell of burnt oil. I suspect a blown head gasket and have it towed the rest of the way home. Here is a break down of what I have invested in the vehicle, as well as the repairs that will be done before its put back on the market for sale.
2000 Land Rover Range Rover 4.0 SE
Purchased at: Auction
Cost after winning Bid + Fees: $2190
Towing cost: $100
Head Gasket Job(Head Gasket set, Head Bolt set, Heads valve test, cleaned and resurfaced, and Labor): $738
The head gasket job is currently being done. Once that is done, I plan on replacing the windshield then listing her for sale. Will update that process later on.
Total invested so far: $3028
With this renewed car flipping venture I am about to embark on, I've come up with a more precise and cost effective approach in picking the cars I plan to buy. Also with me documenting my progress in this blog, it will help me look back and see the things I could have done differently and help me tweak my approach the further I get in this car flipping business.
Anyways, lets just get right into this.
Car# 1. I've just bought at a public auction. Went into this auction with a list of 22 vehicles to inspect and possibly bid on, and came out with this gem although with not so great discipline. You see I had some rules for myself before I went into this auction:
- Only bid on the vehicles I had previously researched on my list. [CHECK]
- Also inspect all the vehicles that were on my list before the auction was scheduled to start. [FAIL]
- Do not bid on vehicles in the lane that were not inspected by me prior to auction. [FAIL]
This 2000 range rover was on my list of vehicles to bid on. I did get to inspect 16 of the 22 vehicles that were on my list, unfortunately the range rover was one of those vehicles I missed making it a clear do not bid item. So I broke my rule and hopefully I will not pay for it in the end. The bidding on this item started at $2400 and quickly made its way down to $1800 before I placed my bid. When I look back at it, I probably should have waited for it to drop lower before placing my first bid. I will need to keep that in mind for next time. When the price reached $1800, my max bid was $1900 as recorded on my sheet, and I got a little to trigger happy and went in for my bid. I was the sole bidder and ended up taking her home. The rover looks great cosmetically and I was excited about this purchase. However I started to second guess myself when I first entered the vehicle. First thing I notice as I turn on the vehicle is a check engine light along with an error message on the dash that read traction fault. I then had to move the vehicle to guest parking, so as I go into reverse and give it gas..I notice no power. Its moving like a turtle in reverse!! Samething as I go forward!! Too make a long story short, I don't get more than 5 miles before I pullover due to overheating and the smell of burnt oil. I suspect a blown head gasket and have it towed the rest of the way home. Here is a break down of what I have invested in the vehicle, as well as the repairs that will be done before its put back on the market for sale.
2000 Land Rover Range Rover 4.0 SE
Purchased at: Auction
Cost after winning Bid + Fees: $2190
Towing cost: $100
Head Gasket Job(Head Gasket set, Head Bolt set, Heads valve test, cleaned and resurfaced, and Labor): $738
The head gasket job is currently being done. Once that is done, I plan on replacing the windshield then listing her for sale. Will update that process later on.
Total invested so far: $3028
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