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-   -   Critique my Idea (http://forum.e46fanatics.com/showthread.php?t=941893)

biMMer4.4i 08-30-2012 11:36 PM

Critique my Idea
 
Just like any other 17yo with an e46 I have a passion for cars and making them look cooler and drive better. Unfortunately I cannot afford to modify as I would like w/o burning up my emergency maintainence money. I've been inspired though by things I've seen in magazines and on tv to restore/modify a vehicle of some kind just for the thrill of it. Now though, I'm thinking I could make a few extra $$$s off this. My idea: With no more than $800, buy either a quad or car that is straight and runs but in need of tuning up and resto. Parts would be bought through craigslist/ebay/junkyards for most of this to save cash further, and then ride/drive the piss outta whatever I decide to buy and sell for a few hundred dollars profit. As with anyone who has ever flipped a car/ vehicle, its easy to become screwed and just burn money, so all criticism would be appreciated. As of now I'm researching atvs mostly to avoid major taxes, fees, insurance, etc. and maximize profit

choxor 08-30-2012 11:59 PM

Sure, plenty of people flip cars, but there's more to it.

You need to have a pretty good understanding of body work and mechanic's knowledge. You evaluate a car you have to think about what needs to be done to fix it up (expenses) and what you plan on selling it for. That's the absolute key. Without good knowledge of those two things you could quickly lose your ass buying something for way too high and not being able to profit.

Take auto body class.

MntnTwisties 08-31-2012 02:19 AM

you kiss mod money goodbye the second you put something on the car. most people want an oem vehicle when there looking to buy a car.

peytonracer4 08-31-2012 02:50 AM

When trying to flip a car it's easy to burn through money like you said. Even if you know the car and the market really good it's super easy to go over budget and loose money. The reason for this is: when you buy a car you'll know the obvious problems if you know the car type well. Some problems are easy to see and can be fixed by someone at home.
However you don't know everything wrong with the car until you've driven it 100 miles. You just don't.
The tons of little things that are wrong that you didn't know about when purchasing are what add up. No matter how good you are there's always going to be something wrong that you didn't know until it's too late. Know this and chose wisely based on this advice.
Hope this helps.


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