Flipping Cars?

I have heard there is some money to be made in constructing cobra kit cars. Not if you go whole hog with mega-buck mods, but if you keep an eye on costs, you can make money on them.

Problem with flipping cars is there just is not many good deals out there. Just like real estate in California.
I personal think that the car values may go down a bit if housing prices ever begin to fall, You know if that bubble pops!
My tips
1. Buy right! It is very hard to buy a project fix it up with nice paint, interior, and motor and still be able to make profit. I believe if you buy a car right, project or not you should be able to sell it for a profit without doing much work on it.
2. I personally don't buy anything that I wouldn't be happy to keep! Sooner or later you will get stuck with a car you can't make money on then you have to decide keep it or lose money! Its nice to have the option of keeping the car instead of just losing money.
3. Its not what you think the car is worth it is what others are willing to buy it for. Look in the collector car trader, Same cars week after week. These cars are overpriced for the market or they would be sold the first week. What I am saying is don't believe that a 65 Mustang is worth $10,000 just because there has been one in the trader for 3 weeks at that price.

Just my opinion on the subject I am no expert of flipping cars, I just love cars of all shapes and sizes. I have also bought and sold many, and some at a profit.

What about the Corvette kid :-P the youngest pantera owner on the board, he must know something about flippin em!

I will have about 12,000 to start the flipping with, looking around I can get a nice Corvette for about 7-9,000 and the clean ones go for about 12k, So is this a route that should be looked into? Thanks.

Taking base motor mopars like Barracuda's and 318 Satelites and making them 440 6-PAK "Clones" is big at the moment.

if your looking to flip corvettes stay away from the 73 to 96 because those have been dropping like a rock in price the last 6 months. if you can pick up a 68 to 72 for a decent price jump rite on it but make sure you do your homework on corvettes.1953 to 1972 are the hottestyears right now. tne c1 and c2 are just climbingin price but there a little out of your price range. just know what your getting in to. And Mark 5835 is right with number 2. you just have to do your homework.

Do your homework before you buy anything so you dont overpay [IE] Number's matching is a big thing to many -especially with the corvette / camaro/chevelle etc. people. check before buying pay accordingly
and watch who you are dealing with. Also watch for bondo buggie's / badly repaired wreck's etc.Alway's drive before you buy and make sure it drive's / stops well and tracks straight etc.check all accessorie's etc that may need repair's and listen when they are talking to you phrase's like buying a house getting married/ engaged having a baby
should tell you they are anxious to sell so make a rediculous offer chance
s they will counter and go from there if you cant make a deal Take their number and call back in a month or so if the car is still available they are probably more anxious and willing to deal.But the most important thing is again DO YOUR HOMEWORK and KNOW THE MARKET!
Dont forget to factor in the msc. expences cleaning supplie's---d.m.v.[some people will be eluctant to buy a vehicle with a title in someone else's name]---tax---repair's-insurance your time
etc.It's hard to make a decent buck doing this but it can be done.Also it cant hurt to do a CARFAX report before buying just to be sure.
GOOD LUCK. JOHN K.

Thanks guys! Corvette and others What kinds of cars would you reccomend to flip?

And also I have been looking but cant find one:
Do they make a cobra body what I can bolt onto a Corvette frame?

Thanks
Blake

Good luck to you... I paint and repair wrecks for a living. Shure I keep an eye out for somthing I can just buy that needs paint and a headliner. Every time I buy one, I end up spending too much on it and then having to sell at a discount just to get it out of my way. I do know some very succsesful car dealers. They stick with late model cars they buy at auction. These late models have loan value...ie a car is only worth what a bank will loan on it. Not many people have 10 -15 cash for a car. Now, what my sucseful dealer friends do. The buy here pay here deal..where they finance their own sales. I have watched these guy's go from 1 lot to 2. I met a man once who said he bought 1 Mercedes a month and marked it up 1000 dollars and his goal was to sell 12 a year just to suppliment his regular incoma and always drive a Benz! I pesonally think too much of my time to spend it building a car that is not sold. If you want to flip cars. Get out to the auctions and buy under book value so if somone wants your car they can finance it through a bank or credit unoin. If you get what you expect to from your 2002 bmw....it would be incredible to me. Another word from the wise...wiser than me....You make your money when you buy the car, not when you sell. I am still amazed how little a used car can sell for.

quote:

Originally posted by ss_storm:
Thanks guys! Corvette and others What kinds of cars would you reccomend to flip?

And also I have been looking but cant find one:
Do they make a cobra body what I can bolt onto a Corvette frame?

Thanks
Blake

They make a Cheeta kit for corvette frames, also something called a Dragon. Both of which are multi-cool and you should have no problem selling.

Every once in a while, I find myself "flipping" a car, after the driver has cut me off!

LOL

Happy Labor Day, George