How To Flip Cars | FULL PROCESS [2]

what is going on today everybody it's buddy here today i'm going to show you guys how i took this super ugly neglected beat up looking bmw and turned it into thousands of dollars of profit so i'm mainly a diy channel but i have started a segment on how to flip cars it's what i do for a living full time so if you want to learn how to get potentially profitable vehicles at low prices how to fix them up and flip and make a whole lot of money on the back end be sure to subscribe so you don't miss anything i'm going to show you guys the entire process of how i made a few thousand dollars off this bmw from how much i knew i should buy it for how much i knew i could sell it for how much money i had to put into it and ultimately how much profit i made off this so without further ado let's jump right into the video so most of the cars i buy i do find on facebook marketplace but it so happens that this bmw is actually posting one of my facebook groups that i'm in now i'm not someone who involves myself in the car scene or really participate in any kind of the facebook card groups i do join them to find deals though most people in these groups are younger and i find it's way easier to negotiate with the younger generation and they're a lot more likely to take the lowball offers so i was scrolling on facebook and this popped up in one of the car groups that i'm in the guy had this exact picture up and said anyone want to buy a 2007 bmw 328i it needs paint but runs good otherwise thinking around 2 200 bucks so i went ahead and shot the guy a message asking for more pictures and some information on the car i asked him if there was any engine codes and he said that it ran fine he told me some woman gave him this car as a payment for fixing her daily driver so i took a closer look at the pictures of the car and it looks like the whole thing needed a paint job the hood was completely faded out the pillars of the car were faded out the roof was faded out you can see right here the front of the bumper was faded out this car needed a complete paint job but you can see here for a 13 year old car the interior looks pretty fresh besides this little bit of wear on the front seat and this little bit of peeling here on the back console everything looked pretty good now a bit of a disclaimer right here i don't usually recommend going for european cars like bmws or mercedes when you're looking for cars to flip as we all know the price of parks can get outrageous for these european cars but the difference is here i'm super familiar with these bmws my daily driver is the exact model car besides the fact that i have a two-door variation of this car and if you're not sure about a car i always recommend you do a little bit of research before pulling the trigger this car has an engine called bmw's n52 engine and it's arguably one of the most reliable inline six engines out there the transmission on these cars are also super solid so i know this is something definitely that i want if the price is right so i did a little research here on kelly blue book just to see what i could sell the car for all fixed up so it looks like this car sells for about 3 700 to 6800 now a good note to keep in mind with these european cars with a lot of miles as stated before this car is 155 000 miles you want to kind of look on the lower end of the kelly blue book because a lot of people are really scared of these so you definitely want to price them to sell and go for more towards that lower end of the kelly blue book value when you're going to sell so 4 000 seems like a very reasonable spot for me to price this car at and get rid of it quick now i don't pay any attention to kelly blue book when i buy a vehicle even if it's in perfect condition but the thing you got to realize is most people default to kelly blue book values when they buy vehicles so that's always a good standard to look at when you're looking to resell the car now when i buy a car for sale what i'm always going to look at is this little trade-in tab right here on the kelly blue book page this is what a dealer is going to give you if you were to go trade in your car and at a dealership this is always where you want to be because you know if a dealer is going to buy your car they're going to give themselves enough room to make sure that they have a profit margin even if there's something unknown wrong with the car so you can see right here i did put for the condition fair because the car does need an entire paint job even though the inside is in really good condition and the engine has nothing wrong with it fair is definitely where i want to be considering the whole car needs a paint job and a paint job isn't necessarily a real cheap thing to do so now that i've done all my math and i know that there's a profit margin in there for me with this vehicle so what i'm going to do at this point is i'm going to test the seller and i'm going to see how negotiable he really is on this price with the car now i don't recommend that you do this over tax i always recommend you do all negotiation in person because you have a lot more leverage but this guy lived two hours away so i did want to make sure that he was somewhat negotiable on the price because some people are super firm and no matter what you do they will not budge on their price so i want to make sure he's not one of those people and the last thing i wanted to do was drive two hours there and drive two hours back and not even make a car deal happen so i just kind of threw this out there eleven hundred dollars and i pick it up tonight just to see what kind of seller this guy really was he denied my super low ball offer which was expected but we went a little back and forth here and we actually came to a pretty good agreement at sixteen hundred dollars now again i do not recommend that you do this over text you oh we should do this in person but again he lived two hours away so i wanted to make sure that i'm at least getting a deal before i drive up all the way over there and drive back with no car so 1600 was really close to the bottom end of the trading value in fair condition on the kelly blue book page so i definitely decided that it's a very reasonable price so i set out my two hour drive with 1600 bucks in my pocket there are a few things i'm going to look out for in this car common issues with this car is a bad water pump a valve cover gasket leaks oil filter housing leaks now you always want to do your research about the car you're they're going to go look at and see if there's any common issues that you should keep an eye out for it can also be a negotiation tool for getting the price lower now something that i always bring with me no matter what kind of car i look at is an obd reader i'm going to put a few links in the description that you guys can pick up ones that i recommend i'm going to put a cheaper one kind of a middle range one and a more expensive one these are a must have if you're at home diy or if you're looking to get into car flipping so upon arriving at the seller's house i began to take a good look at the car the interior looked just as good as the picture shown the exterior looked awful but that was expected of course but my main focus was to check out the engine and electrical components of the car to make sure everything worked all right i hooked up my obd reader to the car and got no engine codes good start the engine bay looked clean no leaks coming from common spots the idle was smooth it had zero signs of major problems the radiator reservoir didn't have any signs of oil in there and the oil cap didn't have any signs of sludge which would be indicative of a blown head gasket so good news so far the windows worked the sunroof worked the only thing that didn't work right was the front door locks this is what they did so i needed a new door lock actuator i'm actually familiar with replacing these i've done it before in other bmws the guy was super cool about it and gave me a hundred bucks off the price without me even asking since i told him it's about 90 bucks in parts during the test drive of the car everything seemed real smooth it stopped with a nice idle at red lights the brakes worked excellent it accelerated without any kind of puttering the alignment of the car felt awesome i was pretty happy with the car i was ready to offer him that 1600 but like i said before he took 100 off for the price of the locks so 1500 and we shook hands so it's time to take the keys and make our way back home now while i'm driving here i want to take a second to mention something about what to look for when buying used cars as i said earlier it's always a good idea to do some research on whatever car you're going to go look at before you show up so you can look for common issues now besides the common problems of the specific car you're looking to go buy i do keep a checklist in my head for things to inspect that will be applicable to any maker model car truck i did make a video on the complete guide to buying a used car this video goes into detail on everything you can do to inspect a used car that you're looking to go buy and give yourself the best chances of not getting ripped off that video is definitely worth checking out and i'll leave a link for that video in the description below now driving it back home was super smooth sailing for the first hundred miles but right when it was about 15 minutes from my house the car actually started running really rough it wasn't alarming enough to pull over and pop the hood or anything but it was definitely starting to feel weird it threw a check engine light and the check engine light was not flashing and for you guys who don't know if your service now engine light or your check engine light starts flashing you better stop driving because that's when there's something really wrong but the check engine light never started flashing and it seemed okay enough to drive so it made it back the last 15 minutes to the house so now that the car's back of the house it's time to start fixing her up and getting her ready for her new home so the first thing i wanted to address was the check engine light that was thrown when the car started running rough i hooked my obd reader up to the car and threw an error code p0300 random or multiple misfire now that can be the case of a bad spark plug a bad coil your core wiring might be going out your distributor might be going bad or you get a vacuum leak or a fuel issue but more than likely it's just a bad spark plug or a coil and your computer can't tell which cylinder it is so you get a code p0300 and not a code like p0303 showing exactly which cylinder it is so the first thing i'm going to do is test the spark plugs the coils and the coil wiring now i did make a video that i will put in the description on how to test the spark plugs the coils and the coil wiring in your vehicle to see exactly which plug or coil is bad that way you're just not shooting in the dark and you know exactly which component is bad imagine replacing all the spark plugs and coils in your car and it ends up just being your coil wiring so this is definitely a necessary step to make sure what component is bad and it'll definitely save you a lot of money in the long run so i went ahead and swapped out the bad coil for a brand new coil and the car started running beautiful again so at this point it's time to start keeping track of how much money we have invested in the vehicle we have fifteen hundred dollars for the price of the car i'm gonna go ahead and add fifty dollars for gas because it was a four hour round trip and then we also have twenty five dollars for that coil so now that we got that out of the way it's time to start attacking these broken locks remember they do this every time we press the button when your vehicle does that it just means that your locking actuator is busted and you need to replace it with the new one i did make an entire video here on how to replace a locking actuator in a bmw they're pretty similar for any vehicle you essentially just need to take your door panel off pull out your old actuator put your new one in and then screw everything back together this probably took me about an hour so it was no big deal and actually both of the front doors did it so it was two of them and after i replaced both door locking actuators it went from to this all right guys the moment of truth has tried our lock beautiful so it's time to go back to our money investor chart and add our door locking actuators and those came out to 78 dollars for the two front doors so another issue with this car is the day after i brought it home the sunroof cover fabric started sagging and then completely ripped off this is also a super common problem on these cars the good thing about the sunroof cover is it's not too hard to take off just a few screws and some clips and it comes right off i went ahead and restabled it with some regular old staples i had laying around the house and i put everything back together the whole process only took me about an hour or so if you are a 3 series bmw owner you might want to bookmark this video because it's only a matter of time before you have to do the same thing i went ahead and reused the same fabric that ripped off because it was in pretty good shape so we don't need to add any money to the money invested chart now you guys remember the rear console had some peeling paint well i took a drive to my local junkyard to see if they had any bmws that i could swap the panel with now they had the same car but it was a black interior so i went ahead and just bought it anyways it was five bucks i popped in the car and honestly it didn't look too out of place the car has a black dash so it kind of blended in definitely a lot better than a nasty looking peeling paint one now going back to the money invested chart i'm gonna go ahead and add five bucks for the rear panel that we bought from the junkyard now guys it's time to finally address the elephant in the room we got the car running good again the locks working the nasty peeling paint and the interior cleaned up but the car is still super ugly i honestly have no idea what the story is with this paint it almost seems like some 16 year olds got their hands on some spray paint and spray painted and put some real cheap clear coat on it but regardless we got to do some with this paint now i was thinking mako but i've heard some mixed messages about them some people will swear they're totally worth it and some people say it's worth spending more and getting it done by a professional shop that uses higher quality paint i called my local mako to see how much a full paint job on a car was and they said it starts at 499 dollars and goes up from there i assume the 499 is with the lowest quality paint and that includes zero body work the car didn't have any major rust besides a few small spots so the 500 is probably what i was looking at so take another look at our money invested chart if i were to do a 500 paint job the total amount of money we have invested in the car is 2158 at a sale price of 4 000 that would still leave me with about 2 000 in profit so not too bad and then i remember my good buddy actually from a while back did get a mako paint job i decided to give him a ring and get his personal opinion before i pulled the trigger or anything he told me initially he was very impressed with the quality of work for 500 bucks but after 18 months the clear coat started to fade on his truck and some bumbling reappeared on his bumper now i know some of you guys are saying who cares it's just a flip that person's going to be long gone it's not going to be your problem well i'm pretty well known around the area and a lot of people always reach out to me because they know i flip cars and they always ask me if i have anything for sale the last thing i want to do is sell a freshly painted car and have it start looking awful again after 18 months that'll put a ding on my reputation and that's not something i want you should definitely consider that as well if you want to get into flipping cars so change a plan i was gonna paint the car myself i wanted to use a good quality paint to make sure it lasted years to come and since i know this car's engine will last many more years i wanted the paint to do the same so i took a trip to my local auto body supplier and bought some sandpaper some primer and some good quality single stage paint and for those of you who are not familiar with single stage paint i'll explain it real quick in simple terms there's generally three layers of paint your primer your color coat and then you got your clear coat that makes the paint nice and shiny so single stage paint is essentially your clear coat and your color coat mixed up in one it saves you a lot of time and if you do it right it'll look just as good to the untrained eye so that night me and my helper spent about an hour sanding all the old clear coat off and making a nice smooth finish also any super deep spots that formed rust i sanded them down to the bare metal and sprayed them with primer that has a rust inhibitor chemical in it this is super important step to make sure the rust doesn't come back and ruin your beautiful paint job in the future we then proceeded to mask the windows the headlights the tail lights the grille to make sure we didn't get paint on anything we didn't want it on so this is something you guys might want to look at if you're looking at getting into flipping cars full time this is honestly one of the best thousand dollars i have ever spent so the next morning i set up my inflatable paint booth now i will have a video going over this inflatable paint booth going over all the details about it so you guys can make an educated decision if you want to buy one or not now there are cheaper ones but i didn't want to get a large one just to make sure that i can accommodate larger suvs like armadas or excursions and make sure i didn't limit myself to the cars that i could paint at my house so be sure to check out the video for a full thorough review of this inflatable paint booth i'll leave that here in the description below so now it's time to prime the car my girlfriend is pretty good at priming honestly and she likes to do it so i let her blast the car with some primer and that same night we sanded down the primer with some fine grit sandpaper primer fully hardened in about four hours at room temperature so it definitely had plenty of time to harden we took about an hour doing this to make sure that we got the primer coat nice and smooth and got it ready for the paint coat that next morning we set up the paint booth again today was a big day it was time to spray down the car with a fresh coat of paint and be done with it the single stage paint really saved a lot of time it's actually a super quick process maybe about an hour and the entire car was painted with a beautiful jet black now painting a car is a fairly simple process as long as you have the right equipment be sure to talk to your local auto body paint supplier with any questions you have and be sure to do your homework before you just jump into painting a car the worst case scenario is a car is going to have something called an orange peel finish it almost looks like an orange now i do have a video on how to remove orange peel from your car's paint job to make even a bad paint job look professional now i will have a video out on the full process that i use to paint a car by the time you're watching this video it might already be out so be sure to check out the description box so going back to our money invested chart we spent another 80 on the primer the single stage paint came out to 90 bucks and the sandpaper for this job came out to about 8 bucks i also want to mention when i shoot primer i just use the 15 harbor freight gun and toss it out when i'm done and buy a new one so we'll go ahead and add that here to the chart as well so now that we got the car painted there's one last thing i wanted to do to bring out the beauty in this bmw and that was to get these ugly faded headlights back to a beautiful shine i will leave a video on how to restore your headlights in the description my method is super inexpensive super quick and i promise it'll work better than 99 of the garbage products you'll find on the shelf at your local parts store or big box store so now our bmw is looking absolutely beautiful i actually posted some pictures of me painting it on my personal facebook story and it caught the attention of a lot of people on my social media platforms i had a few people ask me about it and one of my old acquaintances from a mechanic shop that we used to work out a while back stopped by to take a look at it he tried to haggle me down on it but i held firm at my price of 4 000 because it was already on the low end of the kelly blue book spectrum he decided to buy it right there on the spot now you don't always get that lucky but i'm going back to the reputation conversation we had earlier people know when they're getting a vehicle from me they're getting a thoroughly looked over and reliable vehicle so also something to consider if i were to opt for that cheap paint job because it's just a flip then it would absolutely come and bite me in the butt selling to someone i personally know so the lesson of this story is to use quality parts and materials and don't ever look at a car as just a flip look at it as a product of the business that you own that you can sell with confidence so now that we got everything sold we're gonna take one last look at our money invested chart we got fifteen hundred dollars for the car fifty dollars in gas 25 for the coil the door lock actuator the console the primer the paint the paint gun everything came out to a total of one thousand eight hundred and forty seven dollars so let's round that up to one thousand eight hundred fifty dollars we sold the car for four thousand dollars so four thousand minus eighteen fifty comes out to a profit of two thousand one hundred and fifty dollars not bad at all for just over a weekend of work now also guys if you made it this far in the video i would love to hear any stories that you guys had of flipping cars or any useful information that you want me to add to the next video i make about flipping cars any questions you have for me be sure to leave them in the comments as well i'll be sure to respond to each and every one of you guys now one last note before i end this video i didn't have to list this car online only because i got really lucky and sold it before i even had to advertise it but in my other video where i made a full story about a chevy blazer i flipped it goes over the importance of listing a car correctly and how to get top dollar and also how to attract the most attention this video goes in some detail about that step and i definitely recommend you check out the video so thanks for watching guys and happy flipping you

Channel: Buddy's DIY

Views: 2,965,693

Keywords: how to flip cars, how to flip a car, how to flip cars and make money, how to buy and sell cars, how to flip cars for profit, how to flip cars on craigslist, best cars to flip, flipping cars for a living, pros and cons of flipping cars, car flipping 101, buy and sell cars part time, how to flip cars without a dealers license, craigslist car flippers, flipping cars, flipping cars for cash, flipping cars on craigslist, flipping cars for profit, best cars to flip 2020, flip cars

Id: D-N-Vug_FSE

Length: 19min 20sec (1160 seconds)

Published: Wed Sep 23 2020