Lessons From Being Scammed Out of $3,000 Flipping Cars

Learn the 13 Crucial steps to finding a higher profit car flip with no risk here: www.flippinguniversity.net/ch...
Today, I'm getting real about a topic that's not often discussed in the glamorous world of car flipping: scams. As someone who's been in the business for quite some time, I've had my fair share of successes and failures. Unfortunately, some of those failures came at a hefty cost - thousands of dollars lost to unscrupulous individuals looking to make a quick buck.
In this video, I'm peeling back the curtain and sharing the hard-won lessons I've learned from being scammed out of hard-earned money. Trust me, it's not a pleasant experience, but if my misfortunes can help prevent even one person from falling into the same trap, then it's worth it.
First off, I'll be breaking down the common tactics scammers use to lure in unsuspecting dealers like myself. Whether it's falsified paperwork, hidden damage, or misleading information, these red flags can be easy to miss if you're not paying close attention. I'll also be sharing some real-life examples of deals gone wrong, so you can see firsthand how these scams play out in the wild.
But it's not all doom and gloom! Throughout the video, I'll be offering up practical tips and strategies for protecting yourself against scams in the future. From conducting thorough inspections to vetting potential buyers, there are plenty of proactive steps you can take to minimize your risk and keep your hard-earned cash where it belongs - in your pocket.
So if you're ready to arm yourself with the knowledge and expertise needed to navigate the treacherous waters of the car flipping world, then hit that play button and let's dive in together. Don't forget to like, comment, and subscribe for more valuable insights into the world of automotive entrepreneurship. Together, we can outsmart the scammers and build thriving businesses based on integrity and trust.

[@FlippingUniversity]

Just as a heads up, the next video I'll be posting will be on the update to the flipping series for anyone who's waiting. Enjoy the video, and keep those scammers broke

[@daetrezjones4447]

Yeah, I was just about to write that myself. I know here in Alabama especially for the van. He could’ve got the catalytic converter replaced for like $80-$100 here had warranty on it, but I guess it’s different for different states.

[@FlippingUniversity]

@@daetrezjones4447 wow I wish that was the case here. Those are expensive replacements here

[@topeliteautosale7658]

i would had that person lock up for theft

[@ItsGG5]

Didn’t scan an obd reader and didn’t make sure it went over 60 😭 painful learning moments for myself too.

[@FlippingUniversity]

Haha, it can be tough being a newbie flipping cars

[@moremoney1704]

Can you flip cars at home as a dealer in NY, without having a commercial lot?

[@atmdovvi]

How can I reach you for consultation ?

[@biancahardison]

How did you get your funding for the dealer license and shop/office? Thanks in advance

[@FlippingUniversity]

I just saved up, and flipped one car into the next to keep gaining capital over time but I do teach a cheaper way to get a dealers license here if you didn't see it www.flippinguniversity.net/auction

[@3ookiez]

So if the Carfax report shows a lower mileage than the Carfax value report, will they say its a mileage discrepancy and deny registration? I am about to get an auction car Lexus Es350, I cant afford that mistake rn lol.

[@FlippingUniversity]

Nope the Carfax value is more so an estimate of what it should be. If the full Carfax report shows a certain mileage but the mileage on the odometer or title paperwork is way off that's where it could be a problem

[@Stressless2023]

Damn I wouldn't even flip cars in a state that makes you jump through those types of hoops - Junking a clean minivan with a good engine/trans for a few hundred bucks over a catalytic converter? Taking $1,500 bucks for an 08 Accord over a typo/clerical error/or even fraud by a different owner??? Here in Detroit we don't have emissions/smog and you can register ANY car even if it's on fire in the DMV parking lot smh.

[@FlippingUniversity]

Yes that's New York for you. I think Cali is probably the only other state as strict with certain things related to cars. But at the same time it is a great market to be in

[@Daveboii]

Your state must be strict. I went to a third party motor vehicle service here in Arizona the other day and registered a car that had mileage rollback ( according to the carfax report) with no issues

[@FlippingUniversity]

Yeaaa NY is unfortunately strict about a lot of things

[@oscarloya19]

In Illinois they just make you sign an affidavit saying you had nothing to do with it

[@Gzus362]

How can i get in contact with you? I want to start flipping but need guidance.

[@FlippingUniversity]

Hey, that's awesome. You can contact me at [e-mail]

[@Gzus362]

@@FlippingUniversity emailed you.

[@houseoffolly]

I had a buyer want to pay me with Zelle. I'd never heard of it so said no. I think he wouldn't have scammed me, but unless I know the process 100% , I'm going to pass. Is the company that took the money back on the last car one of thsoe which automatically sides with the buyer(liar) or was there a process before the final outcome ?

[@FlippingUniversity]

Smart decision on your part. Yup I was able to get back some of the money after disputing the case. They mainly took his side for whatever reason though

[@topeliteautosale7658]

DEALER TO DEALER ACV IS TRASH

[@ROJOTV555]

Terrible editing man, you gotta pay more attention to detail… details matter!

[@Daveboii]

Hater

[@ROJOTV555]

@@Daveboii🤷🏽‍♂️

[@FlippingUniversity]

I'm guessing you're talking about the voice overlap. For some reason it only came up after I uploaded the video. Appreciate the feedback though

[@FlippingUniversity]

😂

[@ROJOTV555]

@@FlippingUniversity yessir