Hello, people. I’ve started flipping cars and I’ve already made pretty good profit on both of the ones I’ve sold so far. I’m only 17, and turn 18 in September. I have had a job but it’s made nothing close to what I’ve been making doing this. Obviously I’d love to say it’s just me, but my dad is helping me out too with the mechanical aspect of the vehicles I purchase. He also helps me work on some things so we can have cars ready to be sold quickly. Here are the two cars I’ve sold and the current car I have.
I started out with $900, after selling a bunch of items around my room that I didn’t use. I bought a 2006 Ford Escape with 198k miles. I ended up putting somewhere around $500 into it, including replacing the alternator, water pump, and several hoses. I ended up finding lots of other small things such as AC not working correctly and a minor oil leak. I sold the car for my asking price of $2800 ($1400 profit)
Next I bought a 2011 Ford Fiesta with 152k miles. This car had a rebuilt title and was rough around the edges (Bad paint, mismatch color trunk lid, etc).) I paid $1400. I really didn’t know how this one would play out, considering these cars aren’t really hard to find for cheap and this one has been in an accident and got a salvage rebuilt title. I ended up not putting a dime into it, other than some manual labor like cleaning it out and redoing the headlights. I had it for $2400, and ended up selling it for. $2300 ($900 profit)
This car I currently have I purchased last Friday (the 24th) I paid $2500 for it. 2014 Pathfinder SV with 149k miles. This car was in an accident, which was obvious by the condition but had a clean title. Drove great, nothing crazy stuck out to us. I haven’t finished this one yet as I haven’t had the time or money to buy the necessary parts. This car needs two new headlights as these are pretty rough as is and neither work properly (surely just a simple bulb change but I’d rather get better condition ones, especially because ones broken.) Also I need a tail light that’s broken, and a few other small things like a door trim piece and a new passenger visor because the one doesn’t stay up. There’s a few more unknowns but I’m pretty confident that this one will make me good profit.
Just starting out. Would like to get better condition cars to flip, but I need larger sums of money to do so. Any tips for me?