Flipping Cars $500 - 1000 Part 2 mini series

what's up YouTube this is lucky with automotive life today we're gonna be doing part two of the car flipping series I apologize I know it's been a long time since I put out another car flipping video but we've been moving into this new shop and basically this whole shop I'll kind of give you a tour here in a little bit is only for flipping cars and doing stuff on YouTube so this way we can have something that's completely side that you can measure about we started off with five cars we're up to about thirty right now in the last month since I haven't posted a video so today we're gonna be going over recon this is one of the most critical parts of you making money is learning how to bid the cars how to do the repairs what to look for in things like that so I'm going to show you a few tips and steps that I do to make sure that I don't go over a budget and I stay and maintain a certain dollar amount on each vehicle so let's go ahead and get into it like I said today's video is mostly going to be about regular vehicles that you can flip in your location a matter what part of the US you are I recommend starting out with very very cheap cars five hundred to maybe fifteen hundred dollar vehicles once you build your knowledge and you build your skill and you get a little bit better at it and you can execute some more expensive stuff I'm gonna show you some of the more expensive cars we flip for later on in the video but today it's really about the buckets the cheap cars is what I call them these are the things that like I said regular people can buy five six hundred dollars and start flipping them but these some of the things I'm gonna show you today is gonna hopefully prevent you from doing some of the mistakes so I keep all this in my head but for today's sake we're gonna visualize and I want you guys to do it too I want you to write down on the vehicles what you bought the car for what you think recons gonna be and what the vehicles are worth so let's go ahead and start on the first one so this one is a 2007 f150 that I purchased for fifteen hundred dollars you can see right here in the window fifteen hundred bucks I always write down the miles now this one is not too bad this one's got a little bit of repair work but not a whole lot so what we're gonna do is we're gonna go ahead and write some of the repair stuff on here so you know this one doesn't need much it needs a cam sensor a few small things maybe a new set of tires so I'm saying probably around $600 worth of recon is what we're gonna need and then usually what I tell everybody is a Dan 250 to $300 until you get really good where you know the costs are gonna be so this way you play it safe so let's add another 250 so we got the 1506 there's 2120 350 so 2350 2350 is what you should have in that vehicle so now we have to make sure that if we put this much money into the vehicle how much money are we gonna actually make so on this part of the video I'm gonna be showing clips on either my left imma ride depending on how it's filmed is what I what they go for on Craigslist Facebook marketplace and offer up now depending in your area different people use different types of mediums to sell their vehicles but these are three I use so when you look it up and you'll see them post probably around here it's going to show you an average price of about fifty five hundred dollars for this vehicle so I always want to make mine the cheapest one possible because you want to just get rid of it quick a lot of people try to hold on and make the gross the first deal is usually the right deal you can always find another car so go ahead and like look up the research so this one I saw the most of them around $5,500 one hundred and seventy-five thousand miles so we're gonna post ours at five what a selling price of five thousand dollars that leaves us a deeper decent profit margin of about twenty six fifty so I put all this up first so this way you can actually see and take the time and review these numbers as you're working on the vehicle things pop up stuff like that make sure you keep a count of it because this is what's gonna help you keep on track to keep your money right so now we know that we can make possibly twenty six hundred dollars off this vehicle if we have to go a few dollars more into recon it shouldn't be that big of a deal we have enough gap to keep us safe let's go ahead an get in another vehicle here's the next vehicle it is a 2003 GMC Yukon this thing runs and drives great it's just got a bunch of little cosmetic issues this was another one I got from a payday loan store like I said you can buy vehicles from just about anybody so most of you because I'm gonna be showing you actually come from different ones altogether so this one actually came from a dealer that bought it thought he was gonna fix it for cheap his mechanic quit on him he didn't know how to fix it so we picked it off ahem for cheap this one like I said a payday loan store but let's go ahead and get into this vehicle so once again you want to write on this front of the vehicle I paid 450 dollars for this car okay with the windshield brakes and this thing's gonna need two tires in the front they're completely bald safety first when you're doing the recon make sure you do all the safety items first you want to make sure one well in Nevada you have to have smog so you make sure you passes emissions and you want to make sure safety is taken first before you do any cosmetic stuff do it this way work work safety - smog emissions in your state there are inspections then - cosmetic stuff so this way you don't lose your money because I've seen so many people throw a paint job on something spend a bunch of money in interior and then the car won't pass smog you can't sell it nobody wants to buy it or they're gonna lowball the hell out of you so make sure you do those things first so safety item we got the windshield the brake stuff like that we're gonna give this thing about four hundred dollars for recon okay and then if we look on Facebook Craigslist marketplace and offer up the average one of these is going between two grand and thirty three hundred dollars now like I said you always don't want to be the most expensive I try to be the cheapest but on this particular vehicle they're very popular it's a third row seat and tax seasons right around the corner so certain vehicles you don't want to give away but you still want to keep in mind that the first deal is the right deal so I believe we're gonna probably do this one for about 2,500 bucks so let's put $2,500 is our goal so right now we're into the car 850 so as you can see we have a decent margin ahead of us we're able to save quite a bit of money if we do the repairs right and that leaves us enough more than enough space to make a few dollars you know as you're going through if you have a big gap like right here you see the bumpers torn if you have extra money you could go ahead and repair those types of things you know look through it and you know make sure that everything is good I see you know like I said the front bumper needs to be painted we got a dent right here on this panel if you write this stuff down and you visualize it it really does help you because I've watched so many people just keep dumping in the cars and they lose it there's a really good example I'm gonna show you one inside the shop here in a little bit but let's go ahead move on to the next car okay I'm getting ready to show you a car that we literally bought for 75 bucks now it's not the greatest car it's not the most amazing car but if you're getting started out these are the kind of cars you want to buy so this one we actually bought from a dealer the dealer basically tried to sell it to the junkyard the junkyard never even picked it up they said they didn't want to give him any money for it and a bunch of other stuff he's been trying to fix it on his lot but it's not worth it for him but somebody like a flipper if you're doing in your garage doing it in your house you know you could spend the time to make one of these ugly cars pretty and this is a 2001 Saturn sl2 now like I said this car is definitely not fancy it is not the nicest car in the world but all that matters is it's mechanically sound and it can make you a few dollars so let's go ahead and start the start the paperwork so this car believe it or not only has ninety eight thousand miles so we're gonna put ninety eight thousand miles okay and then we're gonna go ahead and put what we paid for it a whopping seventy five dollars now on some of these vehicles you need to make sure that you throw in a few extra dollars for your time gas stuff like that because if you want to start getting really really efficient you need to make sure that you put all that in there so like this particular vehicle we got it the ignition was a little messed up so we actually had to use the tow truck to tow it back so I'm gonna add twenty five dollars to make sure it covers my time in my gas so we're gonna go ahead and we're gonna put a slash through the 75 we're gonna put a hundred dollars so this way at least we know we got a little bit of money in there for the gas and the mileage on the tow truck no this one not really that bad it runs and drives fine just needs a tune-up I'm gonna give it about two hundred and fifty dollars worth of parts and repair and labor and so I'd like to sell this one for probably right around 1200 bucks it's not super expensive but it's a good solid transportation vehicle and that's what the people want it doesn't have to be pretty doesn't have to be amazing you just want to make sure mechanically it sound everything works and go through it so I looked online the cheapest one I saw was about $1,000 the most expensive when I saw it was 15 so if somebody comes and says hey I got $1,000 lucky I want to take this car I'm gonna let him have it because like I said this is not the world's greatest car but I know at the same point a thousand dollar car that runs and drives has AC in Las Vegas because it does get a hundred and like 18 degrees out here in the summer and the past is small it is a huge thing and all the top cars that I'm showing you are all clean titles so let's go ahead and let's put 1,200 bucks alright so now we know that with this particular vehicle even with something as simple as a hundred dollars you could if not double triple some of your money now these ones are not very they don't come around that often there are a few cars that I buy for really cheap but there are a few cars which I'm going to show you that I overpaid for now part of the reason why I overpay form sometimes is because I have to buy a package deal so sometimes some of the vehicles I have to buy three or four at a time and I'm going to show you a few of those on why I took a bath on a few but I'm gonna make money on other ones so let's get in the next car okay I'm not going to go too much over these next three vehicles because like I said these are one of the ones that I bought as a package deal I bought this blue Dodge Ram my goal is basically they made me pay $500 across the board now the Dodge Ram was a mystery there was no key I started it up it has a rod knock unfortunately lose my money this one right here this Ford Escape same thing 500 bucks but the great thing is this thing runs and drives no problem no I didn't I got it with no keys I just have to replace the oil pan these ones go for about twenty five hundred dollars online so I'll make my money up on that one and then the minivan right here they told me the motor is bad it was locked up my guy just went started tinkering with it $75 starter so we're gonna have this thing probably running by the end of today and I'll probably sell it for about 1500 maybe 1800 dollars so just from these two units I've made my money this particular one I'm probably gonna put on Craigslist or Facebook as a mechanic special like I said you're not gonna be able to fix every single car so it's okay you're gonna lose on some of these vehicles you know don't beat yourself too much up on it try to limit your risks with gaining the knowledge from like I said learning how to do recon correctly lowering your costs getting bid from vendors so some of the other cars I'm going to show you right now are gonna involve paint work machine work and stuff like that I'm gonna show you what I pay how much we try to bid for it so this way we can get you a little bit better purrs so if you're not as experienced in the automotive realm you could feel a little bit more comfortable starting on your journey as car flipping okay the next car we got going on right here is a Kia Sorento it's a 2005 I picture of me I purchased this one from a pawn shop so like I said you try to buy your cars from many you know vendors as you possibly can because everybody thinks you have to have a dealer's license to go to certain auctions there's public auctions to some states payday loan stores pawn shops stuff like that you can go bid on particular vehicles but I always recommend getting your dealer's license because if you want to take this seriously get your dealers license if you can't afford it remember you can always get your broker's license watch my video on how to get your dealers license getting your broker's license is the exact same thing you just don't have to have a actual physical large dealership you can rent a very small virtual office for like a hundred dollars a month and you can get your license there if you want to buy cars and then sell them on your friends is law but like I said flipping cars you want to do a little bit get your big basis but also build up to where you're gonna be a dealer so this particular vehicle I purchased for two hundred and fifty dollars now this one I believe is a scream deal it's not that pretty it's gonna need the grill tires are okay sorry I'm kind of wiggling around at the camera the interior you can look is not that great it's a little dirty but tax season is around the corner and this is when any car that runs and drives is worth about $2,500 it's gonna go nuts every tax season it's like this so if you could start buying right now in January right around the middle of February that big tax hit should hit and you'll see any car that runs and drives for two grand is gone so once again $250 for the vehicle now this particular one has a bad head gasket now I'm gonna show you a few breakdowns I usually put the Recon and one number but I'm gonna show you a few different ones so if you start this journey before you need a machine shop go visit other machine shops mechanics ask them whether you know what they pay to get a machine or a head machine so this particular vehicle the valves are not bent it just blew a head gasket this is an interference motor if you know if you don't know what that means basically when the timing belt goes the valves basically still stick out and if it jumps time or anything you're bend your valves and so this particular you vehicle like I said only blew the head gasket so my machine shop charges me $30 each head to clean them pressure test them into plain them and plaintiff means to shave them down to a flat surface to make sure that this doesn't happen again now that's what I pay I've seen some machine shops in Texas charge ten dollars and I've seen some machine shops here in Vegas charge $300 a head so go ahead take your time and like I said visit with a few mechanics visit with a few machine shops a few dealers ask them where they get they're done the quality workers remember even if it the guy is the cheapest one if you have a lot of problems with them this is stuff you don't to mess with you don't want to have to put a head on there not know that it's done quality and then you have to rip it all apart you got to get new gaskets and everything else and the gasket kit for this car is $200 so everything is pretty inexpensive so the labor we're gonna do most of us most of most part by us but if for some reason I have to send it out you're probably going to spend an average of about 200 to $300 so let's say 200 $300 for labor to take off a head gasket all right both heads v6 you're gonna spend about 60 bucks getting the heads machine you're also gonna spend another two hundred and twenty-five dollars for the gasket kit and another 125 dollars for the timeyou belt water pump and stuff like that now on certain vehicles you do want to spend that little extra money to make sure that you could sell it like hey look this car has been serviced it's got a timing belt you can add certain dollar amounts for those things that I'm going to show you here in a minute these ones right here are on average going on Facebook Craigslist and Facebook marketplace between eighteen hundred and twenty six hundred dollars now on this particular one we're gonna try to go for around twenty five the reason is is like I said we're gonna go ahead we're gonna fix the grille do a windshield we're going to be doing the water pump timing belt and head gaskets and this cars only got a hundred and eighteen thousand miles so you want to make sure that now that we have all this together we have something that we could sell to somebody and always take pictures take pictures keep them in the car with you so this way when you're selling the car print it all the way out and people actually they do they feel a little more comfortable Hey look I I did the head gaskets on this vehicle I did it timing belt you folks are gonna have no problems and if you buy from certain vendors which one of the things I'm gonna tell you here in a little bit is make sure if you want to get started in car flipping go get a license to be a mobile mechanic doesn't cost that much money but you'll be able to get a accounts at autozone O'Reilly Napa car quest whatever you guys have in your area I know they're all the same companies but they have different names so once you get those things on there all the parts you get actually come with warranty so let's say you I put a head gasket in this one and then a month down the road the head gasket blows you could actually do a warranty claim through O'Reilly or which is shucks I think in in most parts of the other US you can actually put a claim in and they will pay you 50 bucks an hour to fix your own vehicle and they will give you new parts so these these are some little things will go over probably in a later video but start now it doesn't cost that much money and you can get started pretty quickly okay this vehicle right here is a 2009 buick enclave these things are great I try to get as many third-row suvs as I possibly can for tax season this car is clean runs and drives we got a little bit of body damage back here in the corner let me show you so you can see that right there usually will make a mark and we will let the body shop guys know hey how much will you charge to do this type of repair work you always want to have a bid so this way if you know how much it's going to cost like I said if you do have a little bit of fluff in the vehicle you could actually make some really good money by fixing it and then making it that much nicer to get the buyers so we do everything in-house here I'm going to show you the shop there so we have a mechanical paint-and-body upholstery everybody's here so but if you don't have that don't be afraid to get bids from multiple vendors also it's a great time to learn how to do paint and body so if you don't know how to do it watch some youtube videos just like you're watching this one you could start on some of these buckets worst-case scenario you make it a little bit but it's better than what it was before so this vehicle right here I purchased for eighteen hundred bucks but I purchased this from Arizona so I paid two hundred dollars in shipping so right now as it sits we're two thousand dollars into the vehicle on this car has a hundred and ten thousand miles now this particular cars these have a lot of problems with the timing chain now there's these things called cam phasers that sit on top of the heads most cams it's just a solid chain with a solid sprocket no big deal but these ones they have a lot of phasor problems it's a fluid adjusted control that basically helps your timing helps with gas efficiency and things like that now when these go bad it's a big pain in the ass cause you got to drop the motor tear the whole side of it off and then replace everything so this particular car the timing kit you've got to get from Chevy do not get it aftermarket I'm telling you right now when you put it in there you're gonna have a cylinder misfire that's never gonna go away you're gonna spend thousands of dollars on coil packs and everything else so this car right here we got from a another shop in Arizona they bought it and I think they paid like five grand for this thing and they put coil packs they put injectors they did the head gaskets they did a bunch of stuff but they must have never run into this and this is one of the few small things as you start doing this you start learning about each individual car so these guys spent a lot of money making this thing nice but they didn't know about the cam phasors it won't tell you that you'll look it up online it'll be very hard to see but that's pretty much the problem with all these three 6gn motors so the kit you have to get from Chevy it's about six hundred dollars and it's another five hundred dollars in labor so we're looking at about eleven hundred bucks just to get this thing running perfectly and get a pass small we're looking at another six hundred dollars for painting the whole side of the vehicle so let's go ahead and let's add all this stuff up we got two grand eleven hundred so there's thirty 137 so by the time we're done we're into the vehicle 3700 now as we look on Facebook Craigslist offer up marketplace let it go several apps whatever you guys use you're gonna see that these vehicles range anywhere between seven thousand and ten thousand dollars now mo mostly I'd like I said sell it for cheap be the first one but on these third row SUVs during tax season these things are gold because right around the third week of when people have their tax money there's none of them left and if there are there they go for all the money so since this one's a much nicer vehicle and this thing's got leather navigation it's got the two Sun roofs it's a really really sharp car so we're gonna ask a little bit more money we're gonna ask for $8,000 you know we'll probably post it for about eighty five just so we can get you know people will come down there and lowball us and you're gonna get low-balled it's okay don't get upset I got cars posted right now for five thousand dollars no will you take two No thank you I'm I need this amount of money and then reply back don't cussed anybody out because you'll see you'll have other flippers buying cars off of you and then reselling them and also that guy maybe down the road may buy another car from you so always be friendly the other people so this is this one we're gonna go to the next vehicle which this one's a little bit more expensive as we're walking along we're like I said the vehicles are gonna go up and up so this particular vehicle I got from a title loan company the guy borrowed I think it was ten thousand dollars on this truck it is a 2010 Ford f-150 it's actually in really good shape it's pretty clean it does have high miles though it has about a hundred and sixty eight thousand miles but here in Vegas any truck that's a 4x4 somewhat lifted and it's that beautiful electric blue color you're gonna pay more so this vehicle actually paid a lot I paid five thousand dollars so I paid five grand for it but also when I got this vehicle I got it with no keys and no battery I had to buy it as is so I got it here runs and drives great I was driving around the parking lot thought I scored a huge home run I go to put it in reverse no reverse so unfortunately this but the vehicle I'm gonna have to go out and do a transmission rebuild now this car the transmissions on them are super expensive I called lkq B&R which are two of the biggest wrecking yards here in Vegas and they want almost $1700 for used transmission which is ridiculous so I called one of my friends that does transmissions I asked him how much to rebuild it and then also repair a lot of people don't know you could rebuild a transmission which is always a safer bet if you're selling it to a friend family member or if you're keeping it yourself you always want to rebuild it it's worth the few extra dollars but on this particular vehicle he's gonna charge me $500 to pull it out and rebuild the two clutch discs that are bad on the reverse and replace shift solenoid so like I said five hundred and fifty bucks so we're gonna put 500 for the and then also we're gonna spend probably about about another five hundred dollars going through it you know making sure the brakes are good oil change service change all the belts cuz this particular vehicle actually is really expensive so we're gonna go through it and make sure that it's top-notch because the people that are gonna buy it are really gonna scrutinize it so let's add another just for fun let's add $600 so all together we're at sixty one hundred dollars and then like I said this thing's got one hundred and sixty eight thousand miles now here's the crazy part in Vegas trucks are so damn overpriced it's ridiculous I don't know why you could literally fly to Texas fly to California fly to anywhere and they are much much cheaper so some of the prices I'm gonna tell you you guys are gonna be shocked and like you could never sell it for that but here in Vegas unfortunately we're out in like a little little pin in the middle of the desert there's nothing else around here you know all these other cities like in California Texas you got city by city by city and you got a flow of vehicles coming in and out we're here you don't get that so I looked online the average vehicle is between 9,000 and 12,000 dollars so we're not going to be the most cheap on this one we're not gonna be the most expensive but we're gonna be on the middle and lower in so I'm gonna try to sell this thing between 95 and 10 gram there we go so like I said we got our $5,000 into the vehicle we have our $500 for the transmission $600 for other recon and like I said we could get into this this could go up this could go down that's why we're doing this right down $6,100 is our average estimate looking at about 95 to 10k to sell the vehicle so we're looking at a profit about 3000 bucks give or take a few few hundred dollars but this is like I said it's not that hard you could do this in your shop with minor tools and it's really not that bad I wouldn't start out with anything like this I would try to go for mostly I tell everybody stay with what you know you know if you like Honda's do Honda's if you like Ford's try to do Ford's if you know certain things like on this Buick if once you learn a few tricks you'll know how to buy these cars and how to fix them for a very inexpensive price so once you find kind of your favorites you start buying the cars that line up to that I audiology and once you get all those vehicles like I said you'll start very small but I promise you a lot of people that actually have commented and emailed me personally some of these guys started with only one car when I first put out this video two months ago and now they're upwards of 10 vehicles so there are some pretty cool things I'm a fly to a few cities just to kind of interview people and have them talk about how they started flipping cars what they did and everything else because I think it's interesting because a lot of people want to share information on YouTube but they don't really give you a lot of facts and it'll give you a lot of numbers and I believe that's some of the stuff that we're going to need as business owners or as car flippers to be more successful because everybody's I can bought my car for five hundred bucks and I sold it for ten thousand and I made a million dollars and you know a great show me how and they never will because most of it is pretty much and the other half is basically it's it's a bunch of rich kids working at their dad's shops not really doing anything so this is something I wanted to show you the cheap cars so you guys can see that like I said if you don't have a lot of money you could afford to do something like this once you get bigger and you get a shop and then you get a tow truck and you get all this other stuff then you can a little bit more but most of the stuff believe it or not I did this in high school I used to go to the auction impound yards every tow yard publicly asked to announce that they have to impound cars on when a impound cars they have an auction date I used to go to those when I was like I said 16 17 years old and we would just go there and bid on every piece of crap we drag it home my mom and dad were freaked out when they'd see these cars in the yard told me I was an idiot but some of these cars would just barely would clean up get him started change the oil and we made a few hundred dollars on it and from that moment on I was hooked so now you know I've been doing cars for probably about I think it's almost 15 15 years and I'm usually the youngest guy in most of my dealer groups that I know everybody else is in their 50s 60s 70s and everything else but like I said you can still be very successful with minimal amount of money and a little bit of patience and a little bit of knowledge and hopefully through these videos you can gain some of that so like I said today I wanted to do like a little bit of a nicer video to kind of show you more stuff but I'll be honest with you if I do this and I set it up and I get a camera guy and have them follow me around I never do it so I'm trying to do more hands-on to get more videos out to you because I got probably about a hundred and ten emails of people asking me when's the next video come out when are you gonna do recon I need to know more about recon how do you price out your cars how do you price out repairs stuff like that so I'll be waddling to much I'm gonna go inside I'm gonna show you a few of the cars we have inside as well as well some of the expensive cars that we're flipping just to kind of give you an idea but I don't want to go over too much stand aside so I just got into one of the bays this is our prep area but we're do paint and body kind of show you around but this is the best way to show you guys how different you can make your business when you start flipping cars so if you look to my left here you'll see a car it's it's not that fancy but it's a good solid work truck it's a Chevy Silverado 1500 it's getting a complete paint job a lot of these cars run and drive great but the Sun out here bakes them in Vegas just from doing a quick single stage paint job you can get thousand to maybe several thousands of dollars more in certain vehicles so and like I said we have one extreme where we have an affordable truck under like five thousand bucks then we go to the other extreme this is a 2018 Aston Martin so no matter how you start in your journey you can go either way you can go with affordable trucks or affordable cars or you can buy wrecked exotics you can do either one but start with something simple like I said start off with a few cheap cars get going build your relationship with vendors because I was fortunate enough to learn long ago that you can't do it all yourself you could try but you want to be experienced enough where you know the bids and you want to try it yourself but once you realize what you're good at stop once you learn that find other vendors that compliment you when I had my first shop you know I was 18 years old I didn't have a whole lot of money I was running this shop downtown Vegas I was paying about 3 grand a month back then and it was really really tough so I subleased it out to a transmission guy one of my bays and another guy was an upholstery guy and just from them being part of my shop it actually saved me a lot of money and we fed off each other's work so if you want to start and you want to get a shop or you do have a shop and you're trying to figure it out work with other vendors put ads on Craigslist Facebook hey look I'm a small and upcoming business I'd like to find similar minded people so this way we can grow together because everybody that you're going to see working with me they're not employees they're all business owners everybody owns their own business like I said when it comes to paint and body we have two guys here which will be meat eventually they're kind of afraid to be on camera but eventually another probably gonna come out but we work together so this way that like I said it's tough enough as it is to survive at least if you get other people to help you and things to do excuse me other people to help you and and you don't have to pay that big overhead you can work with each other and like I said his customers come in for repair work and my customers come in for his repair work so it balances out really really well all right walking out of the shop now is just talking to a few of the guys going over stuff there nobody wants to be on video but we'll get them later so here's the outside of the shop you can see all the different types of cars that we have right now like I said we have some expensive some not so expensive we're gonna walk over here and I try to buy quite a bit of salvaged vehicles when it comes to certain flips because people actually like the more I guess newer cars the low miles but they're cheaper so this one right here I have videos I'll try to show you some clips of this full runner we bought it with the front end missing it's a 2016 it's only got like 20,000 miles we paid I think it was like 8,500 bucks and then with another maybe 3000 bucks in parts it's good to go so these are retailing for anywhere between 25 and 28 thousand we're gonna probably sell this one for like eighteen thousand so you can make a quick seven grand eight grand after all the fees and everything else to buy something like this we do have a few banks that do finance salvage vehicles so you want to check in your area if you do can get those or if you can get a bank that finances salvage cars you'll make a lot of money and I recommend IAA more than Copart because IE they're there actually I think a little bit bigger than Co part but the vehicles are a lot better the the reps are actually online so you can actually meet that army see me at the auction so when you're buying a car like I bought this one this Tacoma and that Chevy Silverado all within like four cars the rep saw me do that and you know I had to pay all the money for the this 4runner but on this older Tacoma and this Chevy he gave me a much much better deal because he saw me purchasing these vehicles so at least you can have a chance to build rapport with that insurance rep so this way he sees you purchasing vehicles he'll give you a deal every now and then this one we paid 5 grand for it it's a 2013 Toyota Tacoma it's two wheel drive but we spent about another $1,500 in parts and paint this one we're probably gonna sell I don't know about maybe twelve thousand thirteen thousand dollars a Chevy we paid ten grand for it it's got I think a little over 47,000 miles 49,000 miles [Music] it's good so this whole car was screwed up in the front end look at that everything's lined up new core support the red cars are really not that bad fix up sorry if my voice fades in and out turn the microphone on but these cars are really not that bad to fix up but you gotta have somebody like Angel that does really really good work that takes the time to not only do the repairs right but he could fix a lot of the parts that we don't have to buy and that saves you thousands of dollars the end of the month so when I gave my hand are a chance at bodywork I sucked I did fiberglass back then I was doing a lot of Corvettes and some of the exotic cars and I liked fiberglass but I don't know why I cannot do bondo it takes me six hours to sand bondo and every time I do it it just looks worse and worse and worse so mad props to angel for getting that done the other guy Gary he's not here but he does amazing work as well he brought his family over from the Midwest just for an opportunity out here in Vegas he'll eventually meet him through some of the videos as well but he does great work a few of the other guys Raul and Mario you'll meet them later on so pretty much mostly what I try to do is one I usually tow the cars because I've already had everybody use the tow truck and they wind up ripping off the front ends of the vehicles diagnosis that's kind of what I do I go through the vehicles and actually find out what's wrong so some of these cars you know like it seems very mild but it's really not you got to dig into a little bit and then also you know minor mechanical repair but I always tell people you want to make sure you keep your hands dirty you keep doing repairs whether they're minor major every once in a while I'll swap a motor just to bring the frustration back because I think it puts you in a good mindset because when you're bidding on cars you're remembering all that pain and agony of busting your knuckles and doing these crappy ass jobs for very very minimal money but when I first started you had to do everything because I couldn't afford to sub out a few things everything I did myself and like I said I did have some really steep learning curves I did screw up a handful of cars which is okay you're gonna do that but I think it's the best way to get started it's really not that hard like I said I want to try to put out as much content as I can to help you guys out if you have any questions leave them in the comment section below if you look at most of my videos I try to take the time to answer every single one I am coming out with a few videos that you guys can purchase that's gonna go more in depth I'm actually gonna have a kiln work a camera crew film those it's about 20 hundred bucks is what they're gonna charge you so that's the only reason why I'm charging a little bit more money on those videos because like I said I have to recoup that cost but these ones will be more in detailed with going to the auction buying cars like I said getting your dealer's license floor plans getting your body shop license your mechanic's license things like that like I said start off get your uh you know if you want to get a broker's license get that go to your city get a mobile mechanics license that's very inexpensive get your EIN number get your bank account set up and then go get your vendor signed up and you'll be ready to go so once again leave the comments down below if you have any questions and we'll see you next video

Channel: Automotive Life

Views: 59,932

Rating: 4.7880793 out of 5

Keywords: Car flipping, flipping Cars, DYI money, Dealership, Car dealership, Small Business, Car, Cars, Auto Repair, automotive life

Id: k62q46qpwmk

Length: 35min 54sec (2154 seconds)

Published: Mon Dec 30 2019