“Pay no attention to the man behind the curtain!”
While those words may have first been spoken by the Wizard of Oz, a lot of people that I’ve met that flip cars have that same attitude.
It’s their secret, and if other people knew, I guess they figure there would be more competition.
My Last Flip is all about taking you behind the curtain. Showing you what goes in to every car I buy and sell.
But not everyone gets to see these posts. No, you don’t have to pay for them. My Last Flip is free.
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I can’t wait to share my flips with you!
So without further ado,
My Last Flip
-2001 Ford Taurus SES
Where I found it
What they were asking
What I paid for it
This car was for sale because the owner had used it for his son’s college travel. After his son finished college and bought a new car, he no longer needed it. They had thought about keeping for an extra car, but then the AC compressor went out. They didn’t want to put more money in it and were tired of it taking up space in their driveway.
What I did to it
-Used AC compressor ($50)
-Freon and Compressor Oil ($20)
-2 used Tires ($60)
-Detailed the interior and exterior
Time from the buy to listing for sale
Closing the deal
I had trouble getting any interest on Craigslist. Having left managing a used car dealership, I was used to having anything under $3000 bring in a lot of foot traffic. You don’t get any foot traffic with a car in your driveway. After four days with no interest from the internet I decided to leave it parked in a Walmart parking lot with a for sale sign in it. In another four days I had my first call and sold it to them that same day.
Time from listing to sell
What I learned
I learned that when dealing with a nice car that isn’t getting interest online that sometimes all you need is for people to see it. On the same day I parked it at Walmart, I also took a picture and posted on my Facebook page. While I didn’t sell it via Facebook, I did have a few people interested. I will be sure to post it on Facebook earlier next time.
The Bottom Line
I paid $500 and spent a total of $130 in repairs bringing my total investment to $630. I sold it in 14 days for $1800 for a total profit of $1170.
ROI (Return On Investment)
This is an important number because even though I usually make more per vehicle, I only invested $630 and had a profit of $1170. Even though I’ll make more on other vehicles, the ROI may not be this high because I generally have a larger investment cost.
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