Flipping $400 Cars until I can afford a Ferrari Episode 1

hey everyone in the youtube world my name is craig from flying wheels welcome to my flying wheels youtube channel i own a car dealership and i basically started this car dealership from scratch i started it in my very early 20s with little to no money and i snowballed each car into the next and what i mean by that i started with a very small amount of money and i purchased my first car and with the profit from that sale i bought two cars and then two to four four to eight eight to 16 and so on and so on and now i have a car lot where all of my inventory has paid for itself over and over and over each car makes a profit for the most part pays the bills and rolls into the next vehicle well a couple weeks ago i went to the auction to basically start this business from scratch i want to show you how it's done now i already own the business so what am i going to do i'm going to take you to the auction with 400 i'm going to see what i can buy and i'm going to turn that 400 into a profit and keep rolling the profit into the next car until i can afford to purchase ferrari with just that 400 dollars that i started with if i buy it for 400 and i sell it for 15 i'm gonna buy the next car for 1500. if i sell that one for three i'm gonna buy the next car for three and then so on and so on until i can afford a ferrari and i'm gonna show you how it's done because that's basically how you should be running your business anyway this is gonna be a long-term saga i'm gonna see if i can do it in under a year so it's gonna be a lot of videos to see how this works out starting with just 400 let's get going [Music] [Applause] now here in lies the problem of buying 400 cars they're cheap cars they're basically p o s's they're pains in the butt too i hate buying cheap cars it's why i stop buying cheap cars i like buying fun stuff i like buying nice stuff there's a lot less headaches even though they're more money there's a smaller profit margin and they all cost more money so it ties up more money to make less money but it's way less of a headache not only in the car but in the person i'm dealing with as well expectations are a lot different on a 1500 car versus a 30 000 car people want the 1500 car but wanted to be the 30 000 car and it's absolutely dreadful to work with so i'm gonna have a lot of headaches trying to sell those two cars and i'm gonna have a lot of headaches trying to get to the point where i'm at that ten thousand dollar mark where i start getting nice cars again to roll into that ferrari so let's take a walk around the auction and i'll look for some good prospects to find in the 400 range this this is going to be tough i haven't done this in years but this is how i started my business 15 years ago buying 400 cars 800 cars 1200 cars and trying to double my money and rolling them into the next vehicle and the next vehicle and now i'm buying nicer cars but the whole point of doing this is to show you that it is possible you can build a business so essentially instead of buying a ferrari you could just keep rolling this into and reinvesting into yourself and your business so clearly i'm out of range looking at 2012 rams and even o7 impalas 11 tahoes all of these are going to be way too much money let's go check out this plymouth scamp i think this has a 318 in it this is a 74 plymouth scamp with a 318 definitely going to be out of my price range this probably wasn't even cool in 74. i don't know what makes it cool now i do like the white vinyl so far i see nothing that's even close to being in my price range now here's my bread and butter it's an 06 chevy corvette six-speed ls2 i believe this is an ls2 [Music] with 69 000 miles now here's the thing here's the reason i'm not going to be bidding on this so you'll see there's no dealer name right here typically dealers write their names on the side of a window that way you know who the dealer is if it's a presentable dealer if it's a reputable dealer i know okay i want to buy something from them if they don't put their name on it why why don't they put their name on it now it's over 10 years old it's under 100 000 but it's over 10 years old which makes it red light which means it's sold as is now here's the kicker the car is locked so i can't even get in to test drive it now a lot of times we can test drive these cars and go 20 30 miles an hour shift to the gears now i know for a fact those synchros on those transmissions tend to fail tend to wear so what happens that dealer probably ran it through the auction because it has bad sync synchros and locked the doors i'm expecting worst case scenario that would be worst case scenario but who knows maybe it's a great car he just didn't want people playing around with this car but i will stay away from that one even though i really want it i spy with my own eyes something that might just work for me this is an o2 acura tl with 158 000 miles ripped leather i mean it's a honda though so and not only is a honda it's a better honda it's a nicer honda even this might be a little too much oh battery's dead so i can't test it out curious because it's so old it may be in my price range but for 400 probably not here's a beat up old civic and a mazda 6. those might work in my price range 151 thousand miles on an 05 civic 07 with 91 000 miles none of this is fun for me this isn't why i got into this job this is how i started this job buying these things fixing them up cleaning them selling them but that's not what i do now the end goal was to do what i do now which is buy corvettes and mustangs and camaros things that make me smile even this altima might be out of my price range even though it's rotted right there 153 and oh six ultimate no i've had these before if you saw my other videos i paid like 400 dollars for one on trade and i ended up selling it for 2000 after i was finished whoa look at this i am sold out of trucks and i need a new truck this is a 16 titan xd with a cummins turbo diesel yes it is xc is it a pro 4x2 oh i hope it's a pro 4x yeah it is pro 4x i will absolutely be bidding on this today not for my 400 obviously but i will be bidding on this because i need a new truck well while we're looking for cheap cars why not drive the pro 4x around the parking lot test that out while we look for cars the problem with owning a cummins diesel i'm not a diesel guy i have 16 how long i'm going to drive 21 years of driving gasoline engines i will absolutely put gasoline in here by accident and forget that it's a diesel that's a gamble that might be willing to take all right we have an old camry even a beat up tahoe is going to be too much a pontiac g6 that's clean still going to be too much this is difficult hey check this thing out over here royal monaco got a plymouth dodge royal monaco now i've done my shopping now i've made my list i know what i'm looking for i want to max it at 400 and see what i can come up with let's go inside the auction and see we'll come away with so the auction has come to a conclusion not the day the day hasn't concluded because we still have to transport three cars back so i ended up getting a grand prix grand am what the heck did i get i got an o3 chevy malibu with a hundred and eleven thousand miles i hope it's not completely rotted out i didn't look at it out there i just saw it in the lane it was four hundred dollars i heard the number i raised my hand i ended up getting it i don't i couldn't even tell you what color it is i also ended up getting that acura tl so i think german's grabbing that one for me if you don't know german german's my right hand man he works harder than i even do he should be grabbing the acura and i'm going to go grab the malibu and check it out all right here we go 03 chevy malibu 111 000 miles we get a freshie on there that's a fresh tire at least i don't know anything about this car hmm we get some sand question is you know the game will it start if it starts it's already a good sign it starts okay so far the path to my ferrari is a success is the ac cold the ac is cold unbelievable let's walk around this bad boy tires marginal there we got a little bit of rust down here not completely rotted needs a couple rear tires the fronts are brand new all right i don't think i did so bad let's go see what else i got today do all the windows work oh let's see going over speed bumps yeah that's pretty loud all right both windows in the front work all right we got one window that doesn't work back there 113 000 miles before the next oil change so the oil change is recent here's car number two o2 accurate tl 158 000 miles 3.2 tl six cylinder how is it pretty clean pretty clean ac works ac is cold we got two cars with cold ac that's great what do we have for lights it smells like your car traction control ebs cold ac stereo is that bluetooth heated seats plugs no books all right we might have two winners and then i got a new tow rig i just picked this up today as well 2016 nissan titan xd cummins turbo diesel with 38 000 miles not only is it an xd turbo diesel cummins it is a pro 4x pro 4x 38 000 mile so i bought this should i keep it should i sell it i really want to keep it because i need a truck but also everything's kind of for sale so if somebody wants a cummins turbo diesel 38 000 mile tow rig super nice truck i'll sell it and i do have a trailer but this tow dolly just works so well come on up so easy to use a couple straps on each tire put the paint in and we're good to go as long as the front wheel drive car not all wheel not four wheel drive not really five minutes late bill uh oh we already had our first problem german just called me said his car is overheating the accurate is overheating not good but at least we're right next to my brother's house so i'm gonna pull over my brother's house say hello wait for german let's see what it looks like oh yikes did you blow a radiator or something [Music] i don't know where it's coming from your brand new alternator it's a good excuse to stop over my brother and see what projects he has going on he just clipped a wall in his drift car last week engine bay on that s13 there's his gtr there's his project car and here's his family car right hand drive skyline and then he has an rb right there waiting to be put in what is it adam all together to youtube yeah that's it and i'm all together you can check out his youtube channel thanks not hot anymore how long did you drive it hot no like when we came to that stop over there that that lady was turning left that's where it shut off as soon as i break the shut off and then you roll the rest of the way then um then i started it and when i was talking to you i started it and i i gave a guess when i told you i'll be right there and it cost then i shut it off and let it coast forgot why i don't buy cheap cars hold this up for me i stopped buying cheap cars and i stopped having these headaches perfect reminder of why i got out of this you know what isn't dead my cummings titan still going so i am instantly reminded why i stopped buying cheap cars i have this fire in my heart right now of anger that it just makes me want to explode from that stupid car and that was supposed to be the good one that wasn't even the 400 flip the 400 flip is driving in front of me with ice cold ac so at least the story continues on that one but now what the heck happens with the acura good news next morning 8 am showed up at my brother's house and the car fired right up so obviously there's something wrong that i have to figure out but at least it starts so it just wasn't running because it was overheated and i guess it needed to cool its head cool its mind down before we got going but now i can put it on the toe dolly bring it back to my shop no headaches figure it out from there so check this out we're about two days into the malibu ownership our 400 car and look how good this thing looks german doing what he does making this thing look incredible now what's great is it came with a current inspection sticker so we know that in the past 12 months this car has passed inspection obviously we're gonna do inspection again and that's when we find out if it actually needs anything but now look at the interior i think we've turned this into i don't know maybe a 1700 car so far maybe i'll last 17.95 and see how we do and while we're on our 400 car topic i'm sure you want to know what's up with this thing the acura tl head gasket no cracked radiator that's all it was 85 radiators done thing doesn't overheat anymore so score score score and once again while we're on the topic of these cheapy cars the acura is up on the lift check out these tires has four brand new skins on it and then it's not completely rotted either being 18 years old in new england i'd expect it to be junk by now and it's not and then fresh wash i've got a cherry malibu well hey on a completely separate note this company foxspeed sent me a jump pack for free to test out and show on video so if this thing works well i'm gonna give it away to one of my viewers so one of you guys or girls all you have to do is share this video on your facebook page and tag us flying wheels inc on facebook follow us on facebook and share this video so share us tag us and follow us on facebook and i'm randomly going to pick somebody that i will mail this jump pack to comes in a case just like this comes with a charger plug an outlet for your for your car so we can touch right here right out of the box it came with 84 battery life so let's see if it'll jump now i know for a fact this avalon is dead it's a cheapy like 1200 car that's just been sitting here for months without being started let's put the jump pack on it and see if it actually works so you have to plug it onto the battery first then into the charger and there we go right out of the box so somebody wants that for free all you have to do is share this video on your facebook page and tag us and make sure to follow us on facebook flying wheels inc inc the other thing is if you don't get it for free there's a link to it in the description with i think a 20 coupon code so 20 off of that in our item description so it's been about a week's turnaround time the malibu is complete it turned out to be okay let me give you a quick walk around of it now the good thing is it came in with a current inspection sticker it expires this month 111 000 miles and it's in fairly good shape has good tires on it so you can see here that was missing the hubcaps we just replaced the hubcaps completely we did a few other things that this car needed as well now i don't inspect anything in this price range meaning i don't put inspection stickers on anything in this price range and the reason i don't put inspection stickers on anything in this price range is because it reduces it limits the liability on me if i tell somebody it's safe and they take it to another mechanic and the other mechanic says it needs work then they come back to me and i have to honor it if you saw my saab video you know what i mean now i just sell them as is so cheapy cars are sold as is it's up to the buyer to inspect them it's up to the buyer to go through them and then it's all on the buyer after the purchase there's no more liability on me now this one i'm really proud of actually turned out great i have two accurate keys two remotes let's see how this thing unlocks turned out to be a radiator leaking so we replaced the radiator and the lower hose the abs light was on it ended up needing a wheel bearing so we replaced the wheel bearing on this car and obviously both cars were detailed too tires were just replaced on it as well you can see i patched the leather here but this thing turned out to be pretty nice and i think i'm gonna do okay on so the acura i paid just around a thousand dollars for it maybe a little less but with the radiator i'm into it for about a thousand dollars i have it listed for 2 800 i'll probably get around 2500. now going to the malibu the malibu has 111 000 miles i'm asking 1700 if i get 1500 for it i own it for five or six hundred so i'll make about a thousand dollars which is a 200 profit on my 400 investment right around there so you can see how the money starts stockpiling i'm probably invested 600 total into the car if i get 1500 i make 900 off it i just about triple my money almost and then i take that 1500 and buy another car and keep rolling and it keeps snowballing until you have more and more and then i'm gonna buy myself eventually a ferrari using only the money i started with for this chevy malibu so the next segment of this 400 flip into a ferrari will show you me selling this car when it finally goes how much we got for it and what i'm going to purchase next guys if you haven't subscribed already make sure to subscribe down below thanks for watching all my stuff i'll see y'all later adios you

Channel: Flying Wheels

Views: 957,702

Keywords: Ferrari for sale, Flipping Cars, Car Dealer, Auto Sales, Dealers license, Car Auction License, buy cars wholesale, buy boats auction, copart auction, make money selling cars, best side hustle, best side business, $400 flip, Flipping towards a ferrari, Flip Life

Id: LJ6ZLC7hJYg

Length: 19min 29sec (1169 seconds)

Published: Fri Oct 02 2020