I would be extremely into buying one, if maybe the logo wasn't slapped on there so boldly. Maybe on the back? Still will probably get one. And a second one if you fix it, and ill probably wear it more often.
The problem with most Mustangs is they made a shit load of them, Lots of them for sale all the time, and the older ones are not financially justified restoring .
Doug makes some great points here. I generally buy cars I know are a gamble but with some understanding of the risks of big maintenance expenditures. The odds haven't caught up to me too badly yet. He is also definitely right that I enjoy every single one!
Oh dang.... Dougie came out swinging throwing out names and calling out ed... Better be careful... Ed will sell you a car you never even asked for. Better be careful my mustached racing friend. Lmao
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Doug is EXACTLY right in this video....STICK TO WHAT YOU KNOW. Thinking you can just flip cars and make a profit with no issues is like someone thinking they could do your job with absolutely ZERO training
By far one of the best channels on YT! But I need you guys to upload another video, with a crazy story about extraordinary hustling skills & JC Penny Gals featuring Rabbit. Asap plz & thank you gentlemen.....lmao
I was selling salvage title cars for last 12 years and never had any problems with customers all my customers are satisfied and happy. Because all my car's been fixed right away in paint match perfect
One professor at a local college buys exotics with issues and then has his class work on the car. He did have to call in a favor from a friend who specializes in Porsche engines to fix a type 547 which is one of the hardest engines in the world to work on. The guy who worked on the Porsche engine is a well known engine builder and someone heard about him working on the car and flew three thousand miles just to buy it. The world of buying and selling exotics is insane.
One thing though, some cars can be an investment, but those are mostly the hypercars or the rarest of rare classics (250 gto and the likes) (pagani special editions, lamborghini centenario) So cars can be an investment, you just got to have the right amount of money to invest 😂
I love these guys but I believe I speak for a lot of us give us a series with "RABBIT" he has the best and funniest stories point blank! like if you agree!!!
Buying a cheap car, is usually never cheap. You will always end up with some car that has billion of broken things, it may be extremely small items, but they all add up. i example, broken plastic on vents, broken leather, and so on..
thats why you scan junk yards to see what cars are there before you buy cheap cars to fix and sell. picking up cars for under 1000 and selling for 3000 is the easiest
I recently learned how to do a DME read out on a GT3RS we have at the Porsche dealership I work at. The one we have is a GT3RS with a manual trans with the 3.6L motor and zero stage 1 over revs, with only 5000~ miles. Very nice orange car and they just dumped a bunch of money into it for maintenance.
I'm 20 years old, I'm opening a motorcycle "dealership" this summer so I can get a dealers and auction license, from there we will be buying crashed bikes and make custom cafe racers out of them, and then we will be buying salvaged title cars to rebuild and make into a rental fleet. This is how I'm entering the automotive industry this summer!
DolphinDivingChamp You might want to check local laws and such. I know the app turo for renting out cars does not allow salvage title cars to be rented. State laws could say the same.
Dirty D The cars would be fixed and inspection to be issued a rebuilt title. I can't imagine there would be issues one it's a rebuilt title. But yes, turo does not allow rebuilt titles.
Hacker07Gaming If your in the auction world, you'll see so many vehicles sustaining massive damage but have clean titles, and salvaged title cars that are clean as hell. It just sucks that turo doesn't allow rebuilt.
DolphinDivingChamp one thing I find myself wondering a lot is why are some cars that are only a few years old with good mileage and minimal damage getting salvage titles? I mean, parts wouldn't be near what the car is worth and sometimes work wouldn't even be extensive.
That's how I can flip diesel trucks for a good profit. I might do some upgrades as well to make it more worth wild for the buyer. I would say also is to keep all the service record as well. really really helps.
I knew some guys flipping cars When I met them they were parting E30's ans selling parts and when I left they had a '68 GT500,a Testarossa between Jags and Porshes and M//'s. All of it before they were 25. Boy did they catched that wave of appreciating cars.I left cause it hurted me too much after yrs of hurting myself with cars. I was passionnate,they were rationnal,I was weak and trying to please everyone,they were dealing hard.I was scared.They tasted success.I had no place to park or work on cars.One of the first thing they took care of. I learn a lot from them,from the cruel reality of money,to the inadequacies of my personality to gravitate around this world.
I mean it’s similar to what mean and my friend are doing. We are selling used cars at 21 and 19 years old. We have a dealership we jus opened and before we were selling cars from copart.
Yep, good advice. Making an HONEST business out of flipping cars and actually making money can be difficult. I've flipped some motorcycles. It's not really worth anywhere near the amount of time or effort for the amount of money.
Most models have their own, recurring issues that to most people are big headaches. If you can specialize in a model and learn to fix all the most common issues quickly and easily, theres a lot of money to be made and good deals. Example: 2008-2012 dodge grand caravans and chrysler town and countries have an extremely common problem where the rear A/C stops working. most dealers quote 700-1500 to fix so most people trade it in or dump it instead of fixing it. We have found that it's almost always the rear expansion valve by the rear passenger tire and we can replace it within about 30 minutes and get it working (rear ac is very important for minivans). BOOM a $1500 issue fixed in 30 minutes and we've easily added $500-1000 in value to the van, especially if its otherwise very clean and nice. Vehicle forums are the best recourse to find the really common issues and easy fixes.
Damn it... You had to say fox body mustang. In 1999 I won a 1991 Saleen Sc while street racing for pinks in San Diego. I was an import nerd and the car really didn't appeal to me, so I sold it to a friend who needed a car for like $2500. I recently saw one sale for $30k, but I know people are starting to get hot on the fox body and I have a feeling those numbers will double soon.
If anyone is interested in flipping high-performance cars to resell them, I would suggest starting with the Germans. Buy and sell Porsches, BMWs, or Mercedes, maybe a combination of two or even flipping all three brands. They're fairly common to find, and are in high demand for people that want more than just a Camry or Sonata. They're fantastic gateway cars for flippers as they're quite common, usually not hard to fix/clean up, and are in high demand.
By far one of the best advises on the subject I've seen recently. Flipping cars isn't the gold mine everybody thinks it is and there is A LOT of misinformation out there. Buying cars as "investments" should never be a option, buy the best example of your dream car and ENJOY it. If you get a full return for it or even a bit of profit in the future, so be it. But it shouldn't be your ultimate goal. ... Go buy Bitcoin instead and leave our dream cars alone :D
Even though he's bashing ed's advice he still shows it's all in good fun and providing good informative insight at 6:12. You'll enjoy the gt3 more if you don't worry about the over revs lol
I go to the same car auction every Friday in New York. It takes awhile but there are dealers that no matter how great a deal the price seems to be do not buy from them
One sentence has forever been planted to my brain and it always comes up when I buy stuff. My father told it to me when I was little but I'm sure it has been circulating way before that. He said: "We are not that rich to buy used stuff" Ever since 95% of the times I avoid 2nd hand products.
MBisFrenchy tavarish doesn’t flip cars he buys them to fix and keep and maybe selling one or two when he wants to buy another car. Essentially if doug is saying your gonna get screwed flipping cars you’ll DEFINITELY get screwed if you’re buying them for yourself
Awesome video. I totally agree with buying the cleanest example you can find and afford for whatever it is you're after. There will always be that one person who will pay what it takes to get the lowest miles, best history , etc etc.
I have an obsession with Audis but the earlier models are a bit intimidating because they're some of the only cars that I cannot see the ground through the engine bay...
Hi. I'm 15 and I'm have started this year to buy cheap cars, repair them and sell them for a little profit. Thanks for the tips Doug! Also where has the stash gone?
Great insight for beginners looking to flip a car for profit. Though it is not easy, you can make it happen knowing the market for your specific vehicle(s) inside and out.
Good advice. I would also add, focus on cars with value. So while you may have scored a super clean Ford Taurus for $1,000, chances are you won't have people banging down your door to buy it for $2000
He said buy best cleanest cars on the market once he said or riding around in salvage title lambos with check engine lights and paint work I was like hell yeah I want to do that one.
salvage cars are the way to go. as long as they're not from an accident or severe water or fire damage, its gonna be a good deal. especially if you're willing to do your own work on said cars. look at tavarish if you want an example
Classic American muscle is a great blue chip investment. And you can have fun while your investment accumulates. I bought a 1968 GTO for $4500 in 1993. Still have it. Been offered 20g+ many times and I've never even tried to sell it!
I used to be the head of sales for a European restoration shop (Jaguars, Ferraris, etc) and at least once a month I'd get a call from someone buried in cars they bought because they thought they could flip them.
How to make money. Buy a few nice cars, get really good insurance, rent them out, and wait while you make the payments in 4 days, get totaled cars replaced for msrp and get loss of use, then buy more and more as you grow. Also give wholesale prices when buying and sell for retail. Got it...
...and use outdated dynos to test and tune so that you can make excuses for the low results and then guess at higher numbers that you think it should be in the “real” world....
Any other car flippers out there keen to share some tips and advice for someone who is looking into doing this for a living ? How difficult is it ? And what brands should I be looking for to sell in the first year ? Thanks
While everything Doug says in this video makes valid points, the one thing missing is what would actually allow you to flip cars, and that is registering them (or not needing to). For private parties, states have limits on how many cars you can register in a year (ranging around 2-6 from what I have seen). It’s terrible to register any car you want to make money on though, because who wants to pay sales tax on $20k, $50k, $100k cars? And if I’m not mistaken, the only way to “get out” of registering a newly purchased vehicle is to work for/with a dealership, or have your dealer’s license. So what would a private party car flipper be capable of doing in order to get around registering cars and the fees associated with doing so? Answer me that, and I’ll start flipping 12 cars a year, as I’m someone who has regularly flipped cars in the past but has been forced to stop due to my state’s limit on amount of vehicles you can register in a year.
Leave the title open. Don't register it, nor sign the title as the buyer. Just leave the seller's signature on there, and hope they didn't date it. As of a few years ago, you can fill out a "release form" as a seller. It has the seller and buyer info, as well as the date. If you flip the car without registering it within 30 days, the person YOU sold it to can claim they didn't know it would have back fees, and thus the dmv taking a closer look at you to see if you're flipping cars. *This is in Texas at least by the way* I think you can register as many vehicles as you want, but the # limit pertains to the # of cars you SELL for a profit.
Open titles , cars in family members names etc. That law is also not watched very closely. You can technically buy and sell as many cars as you wish if the state is getting a cut. But usually cheaper if this number is above a certain amount to obtain a dealers license.
Rob Pitts I live in Colorado, and I don’t know how strictly the law stating the number of cars you can register/sell is followed. But I know that if you do exceed the limit, the fines are supposedly pretty aggressive (I’ve heard in excess of $10k). Also, I don’t know if it’s allowed in other states, but at least in Colorado, selling cars with open/skipped titles is definitely illegal because I’ve read up on that in the past as well. Perhaps that’s not the case in other states, or perhaps these workarounds aren’t totally in compliance with the law ;) P.S. Rob, thank you for the reply! I’m a huge fan of your videos here on the channel
imnotawasteoftime You are correct, I didn’t explain the limit properly. You are allowed to register as many cars as you want, but you’re only allowed to sell a certain number of them from the same address (which is put on the title at time of registering the vehicle). I suppose you could try registering them with family members’ addresses around the state, but I would be concerned that if my driver’s license number continually popped up as I sold cars, they would probably focus on that rather than the address which the car was sold from.
Both ends of market have advantages and disadvantages. Not that Ed or this guy are wrong just both work it opposite and both actually can work out fine. Perhaps more risk on ones with issues but experience can fill the gap as well.
@@wookshit4030 in my situation have a friend in Europe who wants to buy canada cars(most profitable) and sell them in europe. Cars are 40 percent cheaper in canada vs europe so if they buy a beat car that needs to be restored all I have to do is make the deal get it shipped out to Europe not have to pay out-of-pocket and my friend in Europe can restore the car sell that make more money and give me a cut of the money very easy do some research about a not a lot of people do it
![АЛАУДИНОВ у Скабеевой: эти их ВСУ нас НЕ ДОГОНЯТ 😁 [Пародия]](http://i.ytimg.com/vi/an0anqU4WGQ/mqdefault.jpg)
Do you want a Shrewd Negotiator shirt? www.bonfire.com/vinwiki-shrewd-negotiator/
For those of you considering the shirt, I can verify that it is wildly comfortable and made of stern stuff. Well worth the money!
Order placed.
Ya, this won't work for me... I become attached to every car I own.
Finally! I wish it can be shipped reasonably to the middle east or europe!
I would be extremely into buying one, if maybe the logo wasn't slapped on there so boldly. Maybe on the back?
Still will probably get one.
And a second one if you fix it, and ill probably wear it more often.
I tried flipping Mustangs but everyone that test drives them flips them for me.....
The problem with most Mustangs is they made a shit load of them, Lots of them for sale all the time, and the older ones are not financially justified restoring .
Into crowds?
Crowd sourcing....
Do u need a dealer license for this? How do it work? I know that’s a lot of questions but I’m interested in this mustang flipping
eric wsmith
Wooosh
Doug makes some great points here. I generally buy cars I know are a gamble but with some understanding of the risks of big maintenance expenditures. The odds haven't caught up to me too badly yet. He is also definitely right that I enjoy every single one!
Gonna go buy a salvaged title 911 turbo for 5k because of you.
As the saying goes
U make money when you buy it
Not when u sell it...!!!
DON'T DO EM
Ed Bolian iv got a midly burned lambo for you. Twin turbo.
Will you ever have a fan meet up where we can meet you and get an autograph?
Do I smell a car flipping contest brewing between Ed & Doug?
Gus Kipper smells like a great deal. #vinwikistories
Am betting on Doug!
Can I get in on this ? 😂
Rob Pitts haha I came here to say my money is on Rabbit
You'd sell 6 cars to Ed and Doug during the challenge!
Oh dang.... Dougie came out swinging throwing out names and calling out ed... Better be careful... Ed will sell you a car you never even asked for. Better be careful my mustached racing friend. Lmao
M 😂😂😂😂
Ed is a very good salesman. He has a genuine way of making you feel comfortable.
Doug, the only guy who tells the world's shrewdest negotiator to be an even more shrewd negotiator
When he said the word "quirks" I thought Doug DeMurio was gonna smash through the wall Kool Aid Man style.
BluDog35 You made my weekend blusog35. 😏🙃
M8 you have made my whole year
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Way fucking underrated!!’n
I love doug 😭❤
Doug: "Know your product"
Me: "I'm going to flip 03' 04' Ford Escapes"
Actually that is sound advice. Many choose a class, say Japanese imports. I personally live for VW.
Every Doug is into quirks
Q: How to make money flipping cars?
A: Have a ridiculously deep voice by the age of 13 like Ed/Doug/Rob and the rest will just happen naturally
This is the answer.
Have stupid deep voice here. I just bought a $5000 car for $3000 because of it
If you bought it cheap enough you can sell it at a profit because everyone wants a cheap car
Dang I’m good then
..me leaving comment section going to doctor for growth hormone before stopping by gym..deep voice here I come
Doug’s check list for buying a car 1) does my sombrero fit? If yes, purchase asap 😂
Oh we need to find out the quirks of a car? Okay brb... *looks for Doug Demuro videos*
Alright, I'm ready to flip
James Golen
Most of the cars he does videos on will appreciate in value or just be easy to sell so thats kind of a good idea
“I love vipers” - “I dont know why anyone would say that”. 😂😂😂
Mohit Surtani that hurt me as a viper owner
Phillip Berk it shouldnt hurt cuz’ you own a viper in the first place
Best bang for the buck. Mopar or no car
JeepJKU Adventures Best is a strong word
Supreme alpha dont be mad cause your big ass ain't fitting in one. Lol
Doug is EXACTLY right in this video....STICK TO WHAT YOU KNOW. Thinking you can just flip cars and make a profit with no issues is like someone thinking they could do your job with absolutely ZERO training
Allright Lads, we are on the dawn of war. Shots have been fired.
Ed and Doug must be good friends, because that's a lot of shade he's throwin'!
By far one of the best channels on YT! But I need you guys to upload another video, with a crazy story about extraordinary hustling skills & JC Penny Gals featuring Rabbit. Asap plz & thank you gentlemen.....lmao
So basically don't be what your shirt says.
I was selling salvage title cars for last 12 years and never had any problems with customers all my customers are satisfied and happy. Because all my car's been fixed right away in paint match perfect
I think what we need is a flipping competition between Ed and Doug!
RandoCrypto That’s a cool idea and a different spin that could be added to the channel.
The first line made me question everything I know
isidoro alfaro lmao
Shots fired by MexiStig!
Last time I was this early, the Sesto Elemento was just a show car.
One professor at a local college buys exotics with issues and then has his class work on the car. He did have to call in a favor from a friend who specializes in Porsche engines to fix a type 547 which is one of the hardest engines in the world to work on. The guy who worked on the Porsche engine is a well known engine builder and someone heard about him working on the car and flew three thousand miles just to buy it. The world of buying and selling exotics is insane.
That viper diss LMAO!
One thing though, some cars can be an investment, but those are mostly the hypercars or the rarest of rare classics (250 gto and the likes) (pagani special editions, lamborghini centenario) So cars can be an investment, you just got to have the right amount of money to invest 😂
jeevanh26 and know which cars are good to flip
Sitting here at 10 just refreshing UA-cam waiting...
Doug is my favorite story teller on the channel
Doug with the savagery right off the bat!
Doug doesn't hold back!
Hoovie.
I love these guys but I believe I speak for a lot of us give us a series with "RABBIT" he has the best and funniest stories point blank! like if you agree!!!
We can always rely on Doug to keep his shirt game on point.
Came out saying names wearing a shrewd negotiator shirt. Savage!
step 1: become a shrewd negotiator
I normally fall too much in love with the car & over pay lol, been doing a bit better lately.
Buying a cheap car, is usually never cheap. You will always end up with some car that has billion of broken things, it may be extremely small items, but they all add up. i example, broken plastic on vents, broken leather, and so on..
Simon Bach Whenever you buy any car you are either going to be paying for monthly payments, or monthly (ish) repairs.
thats why you scan junk yards to see what cars are there before you buy cheap cars to fix and sell. picking up cars for under 1000 and selling for 3000 is the easiest
I recently learned how to do a DME read out on a GT3RS we have at the Porsche dealership I work at. The one we have is a GT3RS with a manual trans with the 3.6L motor and zero stage 1 over revs, with only 5000~ miles. Very nice orange car and they just dumped a bunch of money into it for maintenance.
how much it sell for
I'm 20 years old, I'm opening a motorcycle "dealership" this summer so I can get a dealers and auction license, from there we will be buying crashed bikes and make custom cafe racers out of them, and then we will be buying salvaged title cars to rebuild and make into a rental fleet. This is how I'm entering the automotive industry this summer!
DolphinDivingChamp You might want to check local laws and such. I know the app turo for renting out cars does not allow salvage title cars to be rented. State laws could say the same.
Dirty D The cars would be fixed and inspection to be issued a rebuilt title. I can't imagine there would be issues one it's a rebuilt title. But yes, turo does not allow rebuilt titles.
DolphinDivingChamp yes they do, I've seen a few people rent a rebuilt title bmw and others
Hacker07Gaming If your in the auction world, you'll see so many vehicles sustaining massive damage but have clean titles, and salvaged title cars that are clean as hell. It just sucks that turo doesn't allow rebuilt.
DolphinDivingChamp one thing I find myself wondering a lot is why are some cars that are only a few years old with good mileage and minimal damage getting salvage titles? I mean, parts wouldn't be near what the car is worth and sometimes work wouldn't even be extensive.
Yup. Great pieces of advice! And they apply to not only cars but all kinds of collectible items.
And not only collectables. All of that should be done when buying anything.
This is Doug's best video.
So glad you liked it. We thought it was some great advice.
That's how I can flip diesel trucks for a good profit. I might do some upgrades as well to make it more worth wild for the buyer. I would say also is to keep all the service record as well. really really helps.
Love this guy, he always has some interesting stories
I knew some guys flipping cars
When I met them they were
parting E30's ans selling parts
and when I left they had a '68
GT500,a Testarossa between
Jags and Porshes and M//'s.
All of it before they were 25.
Boy did they catched that wave
of appreciating cars.I left cause
it hurted me too much after yrs
of hurting myself with cars.
I was passionnate,they were
rationnal,I was weak and trying
to please everyone,they were
dealing hard.I was scared.They
tasted success.I had no place
to park or work on cars.One of
the first thing they took care of.
I learn a lot from them,from the
cruel reality of money,to the
inadequacies of my personality
to gravitate around this world.
Does Doug have a playlist yet? He should definitely have a playlist if he doesn't yet
I mean it’s similar to what mean and my friend are doing. We are selling used cars at 21 and 19 years old. We have a dealership we jus opened and before we were selling cars from copart.
Yep, good advice. Making an HONEST business out of flipping cars and actually making money can be difficult. I've flipped some motorcycles. It's not really worth anywhere near the amount of time or effort for the amount of money.
So buy crap and sell not crap got it.
noyoufuckingravioli mmmm, more like be a savy buyer with cash when no one else has it. Then sell it in the beginning of the next month.
LOOOL
You buy a crap car for cheep and you put a little bit of money to get it running right and then flip it
Watch out Ed! Big fella is comin' for ya!!!!
I NEEEEEED Ed to make a response Video to this 😂
We need a competition!
"So basically don't do anything Ed says". Already know this one's going to be good :D
Y’all give me knowledge that I apply to my daily life and I can say it’s starting something 👌🏻🙏🏼
Most models have their own, recurring issues that to most people are big headaches. If you can specialize in a model and learn to fix all the most common issues quickly and easily, theres a lot of money to be made and good deals.
Example: 2008-2012 dodge grand caravans and chrysler town and countries have an extremely common problem where the rear A/C stops working. most dealers quote 700-1500 to fix so most people trade it in or dump it instead of fixing it.
We have found that it's almost always the rear expansion valve by the rear passenger tire and we can replace it within about 30 minutes and get it working (rear ac is very important for minivans).
BOOM a $1500 issue fixed in 30 minutes and we've easily added $500-1000 in value to the van, especially if its otherwise very clean and nice.
Vehicle forums are the best recourse to find the really common issues and easy fixes.
Damn it... You had to say fox body mustang.
In 1999 I won a 1991 Saleen Sc while street racing for pinks in San Diego. I was an import nerd and the car really didn't appeal to me, so I sold it to a friend who needed a car for like $2500.
I recently saw one sale for $30k, but I know people are starting to get hot on the fox body and I have a feeling those numbers will double soon.
Moral of the story: don't be a shrewd negotiator, be a shrewd negotiator in a specific niche car/ brand/model
If anyone is interested in flipping high-performance cars to resell them, I would suggest starting with the Germans. Buy and sell Porsches, BMWs, or Mercedes, maybe a combination of two or even flipping all three brands. They're fairly common to find, and are in high demand for people that want more than just a Camry or Sonata. They're fantastic gateway cars for flippers as they're quite common, usually not hard to fix/clean up, and are in high demand.
I think this video and shirt combo should have Alanis Morissette’s “Ironic” playing in the background.
Jonathan Martin The most ironic thing about that song is there isn't an example of irony in it.
By far one of the best advises on the subject I've seen recently. Flipping cars isn't the gold mine everybody thinks it is and there is A LOT of misinformation out there. Buying cars as "investments" should never be a option, buy the best example of your dream car and ENJOY it. If you get a full return for it or even a bit of profit in the future, so be it. But it shouldn't be your ultimate goal.
... Go buy Bitcoin instead and leave our dream cars alone :D
Even though he's bashing ed's advice he still shows it's all in good fun and providing good informative insight at 6:12. You'll enjoy the gt3 more if you don't worry about the over revs lol
My god I personally completely over looked the maintenance factor definitely helps to have some workers on hand
waiting for ed's comment
I go to the same car auction every Friday in New York. It takes awhile but there are dealers that no matter how great a deal the price seems to be do not buy from them
One sentence has forever been planted to my brain and it always comes up when I buy stuff. My father told it to me when I was little but I'm sure it has been circulating way before that.
He said: "We are not that rich to buy used stuff" Ever since 95% of the times I avoid 2nd hand products.
The 996 gt3 is 👌
I took your advice. That's why I own a business that can afford me nice stuff.
Was that a knock at Tavarish or it just happened to be a Lamborghini with a salvage title and paint work.
He also said; 7 check engine lights. So I'm pretty sure he was just painting a worse case scenario vehicle.
Violent Tavrish had some lights on his on startup and the paint is messed up...
I think all the knocks were aimed at Ed
MBisFrenchy tavarish doesn’t flip cars he buys them to fix and keep and maybe selling one or two when he wants to buy another car. Essentially if doug is saying your gonna get screwed flipping cars you’ll DEFINITELY get screwed if you’re buying them for yourself
"A lot of people think they are racing drivers" lol I am one of these idiots
last time I was this early Doug still had the Mexican mustache
Awesome video. I totally agree with buying the cleanest example you can find and afford for whatever it is you're after. There will always be that one person who will pay what it takes to get the lowest miles, best history , etc etc.
You had me with the intro line.
I have an obsession with Audis but the earlier models are a bit intimidating because they're some of the only cars that I cannot see the ground through the engine bay...
I love the "Ed" way of buying cars, I just bought my dream car that otherwise I would never be able to!
Nobody talking about the Viper "roast"? Shit was hilarious!
Hi. I'm 15 and I'm have started this year to buy cheap cars, repair them and sell them for a little profit. Thanks for the tips Doug!
Also where has the stash gone?
Don't stop there I am thinking am buying a different trailer for my truck so I can start towing small boats fixing and selling them $$$
secretdeath It's a good side job!
@@stefanwinter1377 are you still flipping cars? How is it going?
Very relatable -- good info here and some solid advice I think
Great insight for beginners looking to flip a car for profit. Though it is not easy, you can make it happen knowing the market for your specific vehicle(s) inside and out.
Best video for a Beginner 🤞✌ i can't wait to start flippin'
Good advice. I would also add, focus on cars with value. So while you may have scored a super clean Ford Taurus for $1,000, chances are you won't have people banging down your door to buy it for $2000
A car that's always flipped well for me is the Ford Explorer. Flipping it back on to its wheels is the tricky part.
He said buy best cleanest cars on the market once he said or riding around in salvage title lambos with check engine lights and paint work I was like hell yeah I want to do that one.
salvage cars are the way to go. as long as they're not from an accident or severe water or fire damage, its gonna be a good deal. especially if you're willing to do your own work on said cars. look at tavarish if you want an example
The best car to flip is the Mercedes CLK GTR
Classic American muscle is a great blue chip investment. And you can have fun while your investment accumulates. I bought a 1968 GTO for $4500 in 1993. Still have it. Been offered 20g+ many times and I've never even tried to sell it!
A very shrewd VinWiki interviewee!
I got a lot of value from this video! Thanks!
The new viper is sick
At least he did not say "buy low, sell high"
Poor Ed...he took a beating🤣🤣
I'll survive. Actually, I might have to go blast up to road Atlanta in my theft recovery free Lamborghini to feel better. Yes. That.
2:10 Are we just gonna sleep on that vintage looking scooter, shits clean af
I honestly like this guy
I used to be the head of sales for a European restoration shop (Jaguars, Ferraris, etc) and at least once a month I'd get a call from someone buried in cars they bought because they thought they could flip them.
How to make money. Buy a few nice cars, get really good insurance, rent them out, and wait while you make the payments in 4 days, get totaled cars replaced for msrp and get loss of use, then buy more and more as you grow. Also give wholesale prices when buying and sell for retail.
Got it...
Buy the best car you can... unless you buy a Lamborghini with a salvaged title... and fire damage... and a 1000hp twin turbo kit...
and swap the engine into your slammed stanced out toyota brz miata
that was a reference to the youtuber Tavarish...
...and use outdated dynos to test and tune so that you can make excuses for the low results and then guess at higher numbers that you think it should be in the “real” world....
*Clean negotiation intensifies*
Any other car flippers out there keen to share some tips and advice for someone who is looking into doing this for a living ? How difficult is it ? And what brands should I be looking for to sell in the first year ? Thanks
This is great! Sobering advice.
This helped me a lot. Great video
While everything Doug says in this video makes valid points, the one thing missing is what would actually allow you to flip cars, and that is registering them (or not needing to). For private parties, states have limits on how many cars you can register in a year (ranging around 2-6 from what I have seen). It’s terrible to register any car you want to make money on though, because who wants to pay sales tax on $20k, $50k, $100k cars? And if I’m not mistaken, the only way to “get out” of registering a newly purchased vehicle is to work for/with a dealership, or have your dealer’s license. So what would a private party car flipper be capable of doing in order to get around registering cars and the fees associated with doing so? Answer me that, and I’ll start flipping 12 cars a year, as I’m someone who has regularly flipped cars in the past but has been forced to stop due to my state’s limit on amount of vehicles you can register in a year.
Leave the title open. Don't register it, nor sign the title as the buyer. Just leave the seller's signature on there, and hope they didn't date it. As of a few years ago, you can fill out a "release form" as a seller. It has the seller and buyer info, as well as the date. If you flip the car without registering it within 30 days, the person YOU sold it to can claim they didn't know it would have back fees, and thus the dmv taking a closer look at you to see if you're flipping cars. *This is in Texas at least by the way* I think you can register as many vehicles as you want, but the # limit pertains to the # of cars you SELL for a profit.
Open titles , cars in family members names etc. That law is also not watched very closely. You can technically buy and sell as many cars as you wish if the state is getting a cut. But usually cheaper if this number is above a certain amount to obtain a dealers license.
Rob Pitts I live in Colorado, and I don’t know how strictly the law stating the number of cars you can register/sell is followed. But I know that if you do exceed the limit, the fines are supposedly pretty aggressive (I’ve heard in excess of $10k). Also, I don’t know if it’s allowed in other states, but at least in Colorado, selling cars with open/skipped titles is definitely illegal because I’ve read up on that in the past as well. Perhaps that’s not the case in other states, or perhaps these workarounds aren’t totally in compliance with the law ;)
P.S. Rob, thank you for the reply! I’m a huge fan of your videos here on the channel
imnotawasteoftime You are correct, I didn’t explain the limit properly. You are allowed to register as many cars as you want, but you’re only allowed to sell a certain number of them from the same address (which is put on the title at time of registering the vehicle). I suppose you could try registering them with family members’ addresses around the state, but I would be concerned that if my driver’s license number continually popped up as I sold cars, they would probably focus on that rather than the address which the car was sold from.
A Simon I’m sure If you ask you DMV they will tell ya that. I’ve got a bad habit of asking forgiveness more than permission 😂 Thanks for watching sir.
Both ends of market have advantages and disadvantages. Not that Ed or this guy are wrong just both work it opposite and both actually can work out fine. Perhaps more risk on ones with issues but experience can fill the gap as well.
I like the stubble beard. Looks good ma man
Awesome channel! Keep up the good work!
(canada/USA) #1 way to make money find a second hand or brand new car help purchase and ship it out (no out of pocket cost) i make 15 to 80k a car!
Please Explain futher?
@@wookshit4030 in my situation have a friend in Europe who wants to buy canada cars(most profitable) and sell them in europe. Cars are 40 percent cheaper in canada vs europe so if they buy a beat car that needs to be restored all I have to do is make the deal get it shipped out to Europe not have to pay out-of-pocket and my friend in Europe can restore the car sell that make more money and give me a cut of the money very easy do some research about a not a lot of people do it