As an owner of a body shop. I have a dealership that i do roughly 3-5 cars a week for. Ive always avoided cars that had anything other than a clean title. I just feel that the people looking at the car are a harder sell. Even if repairs are done correctly. They seem very skeptical. Im curious as to what you pay the body shop to work on your vehicles. How much to repair and paint. Paint. Blend per panel
I’ve just subscribed, the content that you have put out within the past couple of days is EXACTLY what I’m looking for. Loved also the other video about you saying what cars to buy at the auction/vender what is junk, what is gold, specifically the accessibility of parts with certain brands/types of vehicles, definitely learned/learning a lot from you. Love this type of content. And am trying to apply the knowledge to a different country (Canada). Keep it up!
In general the public cannot access/buy from dealer auctions, salvage auctions, insurance auctions. I'm sure there are some exceptions. You also cannot run a dealership from home, and there are more barriers. There are so many youtube channels that hype people into thinking they can work-around policy, law, or slide under somehow. Similar to people who sell cars having never registered (aka paid tax) and it's still titlted in the pervious owners name
As an avid flipper I much rather a clean interior and bad exterior than the other way around. Interiors can be a pain in the ass while exteriors for the most part are cut and dry.
@@LuckyLopez777 I really enjoy your channel. I’m a buyer in the industry and you’re motivating me to start my own dealership. Let me know if you want to expand on the east coast. I’m in NC.
Maybe I’m a little off but the numbers don’t make sense to me. A car wash is 20-30 bucks but a detail is usually 80 +, I have a civic right now that needs a roof paint job and that alone is costing me 300.00x I get the price for the parts but it seems labor is not being placed on the bill. A normal car flipper with out a dealer or his own techs etc needs to pay for all this , maybe it’s just me but is Vegas that much cheaper ?
Unfortunately Vegas is very expensive I just do a lot of work with her detailer that’s why I get a great deal for regular people he charges $85 but for me he does it for 35 because I’ll give him 50 to 150 cars per month. And when it comes to bodywork it’s the exact same thing we give our body guys a lot of work every month to keep them busy. So for regular person I would inflate the price is about 20%
Lucky that's all great. But what about the guys that DON'T HAVE THE SUPER REPAIR SHOP THAT YOU HAVE? You go to outsourcing it's going to be a lot more than what you would spend. So what did you do when you didn't have that support?
I actually did it myself when i first started. if you watch a few of my videos. I would find vendors for things i cant do. but I would fix the cars. and if i didnt know how. I would use google or youtube. after 2 years I got my shop
I've seen all your videos. Up here in NY these shops charge so much. We're planning to move. I was wondering can you give me your opinion where would you go to open shop? North Carolina or Florida specifically Panama City? Thanks
@@charliehernandez7158 It depends on what you wanna do I would definitely look at how much it would cost for renting a dealership or shop because I think NC would be cheaper. Also it definitely would depend on what kind of vehicles you want to get if you’re doing Highline cars I would go to Florida but if you’re doing regular cars I would do NC. Plus a lot of cars in Florida will have rust and flood damage so be careful on that one
Why did you decide not to repair the front, left side of Lexus? (23:17) Is it because you wouldn't make much more profit by doing so, and could make more money if Buyer asks you to repair it?
Sometimes I just make a call depending on the money and how much the repair cost some people always say was only an extra 60 bucks but then you run the risk of spending money and then you may not get the return of it if the customer asks I can give him my body guys number and he can repair it I never promise extra work because once you do that the customer will bug you to fix everything else for free
@@LuckyLopez777 I just began watching your videos. It was a good idea for you to have partnered with Ryan Pineda, because I probably would never have come across your videos. I'm looking into side hussles, and Flipping Cars sounds interesting. I appreciate you sharing your expertise. I wondered... Do you form a partnership with Body Shops, or receive referral fees when referring Buyers to body shops, or do you have the body shop incorporated into your own Business?
@@Cali_Girl1 in the beginning yes I did I made agreements with all my vendors and then also sent them work so this way I can get discounted rates on my work once I got bigger I wind up opening up a body shop of my own
Hello, who was the winner? I couldn't find the part 3 video from either of you two. Also, thank you for the detailed, knowledgeable, and honest videos, now I am a subscriber.
Thanks. We are still making part 3. If you go to his channel we just put out a podcast video. Going over good details about flipping cars. Ryan Pineda Show
Hi Automotive Life I love the content that you are putting out this is exactly the kind of content I’m looking for because I’m in the process of getting ready to apply for my used car Dealer License and your content has been very helpful in this process but I have a question and I hope you can help me with it when it come to selling import cars does the country the car was manufactured in change the price you can sell the car for in the United States
Are you talking new cars? Most franchises have an agreement with their local dealers they will only sell to them and the dealers set the market price for their country for example you can buy a Honda civic in Mexico cheaper then you can’t United States even though it’s the exact same car but you cannot bring those cars to the US brand new because Honda won’t let you
Well no not new cars and what I’m really trying to say is I bought a car from the auction and inside on the door frame the plate say’s that the car was manufactured in Japan so because it was manufactured in that country have you notice any change in the retail price for cars that are manufactured out of the country but are sold here in the USA because some people tend to believe that cars like Honda that were manufactured in Japan are better built than the one’s that are manufactured in the USA and may pay more because of that. and that’s what I was wandering
@@teecool3459 It’s such a small market I wouldn’t recommend it but you can if that’s what you want to specialize in the funny thing is is if you look at the first letter of all import vehicles if it has a J it comes from Japan but there’s a third of those to still come from Mexico so even though they have a J they could be manufactured in Mexico and there’s more Honda Toyota Nissan is manufactured out of Mexico then there is out of the United States.
You are 100% right. Overhead and labor were no factored in and they should have been. They probably made about half the profit. You and I would have lost money.
To be honest it depends on the dealer because I have people here in Vegas that literally wash their cars and park them on the front line they don’t even change the oil most dealers are extremely cheap they won’t fix anything but that’s why their Google and yelp ratings are like 1.4s lol. To me it’s worth putting two to $300 into a car to make the customer happy but at the end of the day if the monies not there and you can’t put it in there then I understand
@@LuckyLopez777 it's also something that can vary regionally, I'm in the Northeast and my impression of the typical buyer of a cheap (under 10k) Lexus is someone who is much more interested in the badge/image than the technicalities of the car.
You have a shop/business. Do you add cost of labor into the prices you put on the windshields? As a person wanting to get started in this business, part cost is one thing and then there is the cost of labor that is added to that windshield breakdown that can blow profit margins. Should that cost be factored in? Thanks.
Please what's the best way to buy cars and export ?is there any need for Dealership License, Wholesaler License, B/License ? What's the best way to start the business I want to specialize in exporting cars. Buy from Auction and sale pls suggestions
If you’re doing business in the United States you have to have a dealers license but if you’re buying from a different country and exporting you just got to get an expert her license it’s much cheaper but I’ll probably do a video about it thank you so much for the idea
I feel like you’re not accounting for labor costs in the numbers as the parts alone add up to a majority of the numbers you threw out. Awesome video and very helpful but I’d be curious to know what the real profits are after you’ve paid your employees and covered all your overhead costs of running the shop.
Once I cash out all profits at the end of the month it’s usually about 10 to 20% of profit what goes towards overhead. And some of the cars I fix myself. So not cost just my time
@@Simplyput3451 I’ve seen his shows yeah you actually do need a camera guy he’s got one too lol. Plus when I’m running around the auction I need somebody to follow me
Hey Lucky! We are a new dealership in the Reno area. Auctions here are not as big as the one you went to in episode 1. What auction is that? Thinking about making a trip to Vegas and picking up some cars.
There’s 7 auction houses here in Vegas. I would sign up for all then. I think Sacramento is closer to you guys and there auction is actually bigger the. Ours here
@@ronguzman538 Man I’m in Sacramento is pretty big I remember going there years ago to buy a Mercedes from there and San Francisco their lot is actually a lot bigger than the one her we have in Vegas
Really enjoyed this content. Consider making this a series where you detail every section. Transparency fairs very well with viewers. Look at Graham Stephan, he is completely transparent with how much he makes a year and gets lots of views. Not asking to detail your income, just be detailed in your car flips. Great video!
For a person who is just starting out, those profits might be a little off. $495 for parts, need to add labor cost for the Truck. If I was flipping the truck and did all that work, labor would cost me at least $800 to $1200 just for labor using my back yard mecanic. so my profit if I could sell it at that much would be around $500 or less. ( I mean no disrespect, Im a fan)
Yeah and some of my other videos I talk about how I built up a system that helps me keep cost down but I tell most people to try to learn how to be a mechanic first while you’re flipping so this way you can save as much money on your repairs my average of what I took out of my profit is about $200 per car when I comes to my car flipping for actual cost of mechanics and overhead when it comes to the cars is still on my dealership I take about $1000 off of every car for overhead cost and marketing
@@LuckyLopez777 Awesome, you took time to reply. I agree, if your going to be a house flipper, learn how to do some construction work. If your going to be flipping cars learn how to be a mecanic and a body man. Appreciate you sharing your knowledge.
Content is great, but it is not the same price for body work and parts as well as repairs out in Florida. Prices for body work are almost double what you estimated. I know you have your own body shop and auto shop probably, so cheaper for you for paint body and repairs. Just want to make sure newbie flippers understand some of those recon prices can be more for them. As always great content though.
Are used to live out in Miami years ago there’s a lot of cheap shops where you can get repairs done for $100 a panel you just have to find them you need to find people that are doing work out of their house or people that are renting a small shop also you need to give him the volume that’s what gives you the discount it’s very hard to bring a one car and ask for good pricing but I said my stuff out to other people and I usually get about $100 per panel
@@LuckyLopez777 very true , volume makes a huge difference. I agree with you I just figured new flippers may need to learn more on finding those shops and negotiating the work.. may be a good video too. Lol. Keep up the good work and keep spreading your knowledge it’s great content!
@@eddiej936 I’m actually making a video talking about how to negotiate with vendors to get better pricing. And what the industry standard is and what’s a good deal and what’s a bad deal
Best advice I could give is Start small and stick to vehicles you’re comfortable with if you’ve owned a Honda Civic in the past go buy another Honda Civic at least you know the normal problems and issues with this do wanted to time go very slowly and try to do everything yourself clean them fix a mechanically and market in themselves so you learn all aspects of the business
If you sold the focus for $7000 why díd I saw the same car sold on ACV for $4200 well I think you are still getting offers for that car and same thing with the Land Rover sold on ACV for 3000 oh and the Lexus for $3500 on ACV as well
I always recommend posting stuff up online while you’re selling it on Facebook craigslist and offer up a VC is a great tool to let you reach many dealers
Unfortunately there are not a lot of books that you can read from but I would definitely do some apprenticeships in shops in dealerships is a great way to get started also with watching RUclips videos like this and seeing if you want to work on cars so long cars maybe on automotive business there’s so many ways that you can approach it but I would definitely start off with maybe trying to be a apprentice somewhere
How did you get a SOLID Toyota with just 150k miles on it for less than $1500? LUCKY! Anything with a Honda/Toyota badge and less than 250k is instantly $3k here.
Are usually wait till the last minute of the auction because a lot of dealers blow their wild in the first hour or two of buying cars so I just take my time and wait till the end when there’s nobody left
You are way off on how much you put into. I am really getting tired of RUclipsrs and business owners posting false info online just to get views. You did not include the cost of Labor that you had to pay your mechanics to work on it or the cost of of utilities it took to fix all 4 of those vehicles. You cant just put the what you pay for the parts as your over all cost. If you want to give an actual cost of what it took to get those cars ready to sell you have to add in at least the labor hours you used to pre-pare them.
Just like I told everybody else I did most of the repairs myself that’s why I did not include mechanic price in my Flips. And the video is about car flipping it’s not about how much my dealership costs thank you for your input
@@LuckyLopez777 When you are talking about flipping, you have to include those cost or the chance that those cost will could play a part when you are giving an actual "fact" of your profits when you are teaching / showing someone else how to flip cars or anything else for that matter. Otherwise you are giving them false hope of your profit margins. I spoke with 2 different mechanics and made lists of everything you did. If someone did not do 100% of the work themselves they would have lost money on every car bottom line. I am also pretty sure that you did not personally do this labor yourself and even if you did the right and honest thing to do would have been to mention that you as the flipper may acquire additional cost depending on the labor and time it takes to prepare the car for resale. That is all I am saying.
I gave the best number as I possibly can when I’m working on my own car is I don’t charge myself labor and I don’t charge myself time when it comes to purchasing the vehicle now when I do dealer consulting I put everything down to the penny because there’s a cost of employment and running employees but when you were a regular person fixing cars in your garage you’re not gonna charge her self to go fix a car to look at a car to spend time online shopping that’s why I do it this way. It’s not that involved compared to when I do dealership consulting it’s much more numbers driven and everything‘s on a spreadsheet. 😀👍. Thanks for the input I try to be as transparent as possible I’m going to make a new video this week talking about how to save money on recon and other things I’d love to get your input on that one as well
@@LuckyLopez777 Looking forward to seeing more of your videos. I totally understand that there is no cost to you personally doing all the labor and you don't five yourself a $$ amount per hour for the time spent. That is one of the things I love about having a side hustle or side jobs where I get paid for a task or manual labor vs sales. much more profit in it when you can do it yourself. Thanks for responding. I think everyone should have a side hustle as an extra source of income. Especially now that we have seen what Covid can do to our cities, states and to our countries economy. Need to find a way to stay ahead and put away for a rainy day.
Thanks for having me!
had a blast. looking forward to the Next Video where we talk about getting a dealers License!
As an owner of a body shop. I have a dealership that i do roughly 3-5 cars a week for. Ive always avoided cars that had anything other than a clean title. I just feel that the people looking at the car are a harder sell. Even if repairs are done correctly. They seem very skeptical.
Im curious as to what you pay the body shop to work on your vehicles. How much to repair and paint. Paint. Blend per panel
The footage was good I would've watched the two plus hours of footage cause you're detailed and honest bout each step in your process
Thanks I appreciate that. Video #3 comes out next week.
@@LuckyLopez777 Looking foward to it!
I’ve just subscribed, the content that you have put out within the past couple of days is EXACTLY what I’m looking for. Loved also the other video about you saying what cars to buy at the auction/vender what is junk, what is gold, specifically the accessibility of parts with certain brands/types of vehicles, definitely learned/learning a lot from you. Love this type of content. And am trying to apply the knowledge to a different country (Canada). Keep it up!
Thanks I appreciate it :)
In general the public cannot access/buy from dealer auctions, salvage auctions, insurance auctions. I'm sure there are some exceptions. You also cannot run a dealership from home, and there are more barriers. There are so many youtube channels that hype people into thinking they can work-around policy, law, or slide under somehow. Similar to people who sell cars having never registered (aka paid tax) and it's still titlted in the pervious owners name
As an avid flipper I much rather a clean interior and bad exterior than the other way around. Interiors can be a pain in the ass while exteriors for the most part are cut and dry.
we do some quick flips where all we do is clean them and take better pics.
@@LuckyLopez777 I really enjoy your channel. I’m a buyer in the industry and you’re motivating me to start my own dealership. Let me know if you want to expand on the east coast. I’m in NC.
@@martinreid4048 Go for it nows a great time a lot of dealers closed up shop because of the pandemic. Lots of openings in the market 😁
I had to get rid of my Ford focus because of the transmission. Totally correct.
Focus = Transmission Problems lol
Came from Ryan’s channel to watch part ✌️
welcome 😁👍
Maybe I’m a little off but the numbers don’t make sense to me. A car wash is 20-30 bucks but a detail is usually 80 +, I have a civic right now that needs a roof paint job and that alone is costing me 300.00x I get the price for the parts but it seems labor is not being placed on the bill. A normal car flipper with out a dealer or his own techs etc needs to pay for all this , maybe it’s just me but is Vegas that much cheaper ?
Trust me I’m not hating at all I love your channel, I flip cars as well but man I never ever can get paint or mechanical lancer that cheap
Unfortunately Vegas is very expensive I just do a lot of work with her detailer that’s why I get a great deal for regular people he charges $85 but for me he does it for 35 because I’ll give him 50 to 150 cars per month. And when it comes to bodywork it’s the exact same thing we give our body guys a lot of work every month to keep them busy. So for regular person I would inflate the price is about 20%
Found you from Ryan’s video of part 1. Now you have a new subscriber as well! Thanks for the great content and info!!!!
Thanks and welcome to the family 😁👍
I love damaged cars...😂😂 Plus that focus has auto park. That’s a great feature.
Damage cars are the best
Awesome Stuff! ... Look forward to more on Car flipping from you channel !
Thanks 😁 Part 3 should be next week I think
Still watching and learning from you on the weekend
Awesome. Thanks for watching 😁👍
Good Video! Enjoyed it, except for your final numbers. You only account for Parts. No time or labor cost?
Do you share profit with the mechanic ect? Seems labor wasn't all in there if you were paying a shop to do repairs. Thanks!
It depends I have some people that split a percentage of profits with mechanics or they pay the flat rate per job.
Great car flipping video seem very interacting compared to other car flipper channel
Thanks Ben I appreciate that
Sweet, I really thought that @Ryan Pineda was going to choose the Ford, he was thinking so hard.
Me too. I was thinking the same
Lucky that's all great. But what about the guys that DON'T HAVE THE SUPER REPAIR SHOP THAT YOU HAVE? You go to outsourcing it's going to be a lot more than what you would spend. So what did you do when you didn't have that support?
I actually did it myself when i first started. if you watch a few of my videos. I would find vendors for things i cant do. but I would fix the cars. and if i didnt know how. I would use google or youtube. after
2 years I got my shop
I've seen all your videos. Up here in NY these shops charge so much. We're planning to move. I was wondering can you give me your opinion where would you go to open shop? North Carolina or Florida specifically Panama City? Thanks
@@charliehernandez7158 It depends on what you wanna do I would definitely look at how much it would cost for renting a dealership or shop because I think NC would be cheaper. Also it definitely would depend on what kind of vehicles you want to get if you’re doing Highline cars I would go to Florida but if you’re doing regular cars I would do NC.
Plus a lot of cars in Florida will have rust and flood damage so be careful on that one
Amazing stuff, really enjoyable....
Thanks 😁👍
Why did you decide not to repair the front, left side of Lexus? (23:17)
Is it because you wouldn't make much more profit by doing so, and could make more money if Buyer asks you to repair it?
Sometimes I just make a call depending on the money and how much the repair cost some people always say was only an extra 60 bucks but then you run the risk of spending money and then you may not get the return of it if the customer asks I can give him my body guys number and he can repair it I never promise extra work because once you do that the customer will bug you to fix everything else for free
@@LuckyLopez777
I just began watching your videos.
It was a good idea for you to have partnered with Ryan Pineda, because I probably would never have come across your videos.
I'm looking into side hussles, and Flipping Cars sounds interesting.
I appreciate you sharing your expertise.
I wondered...
Do you form a partnership with Body Shops, or receive referral fees when referring Buyers to body shops, or do you have the body shop incorporated into your own Business?
@@Cali_Girl1 in the beginning yes I did I made agreements with all my vendors and then also sent them work so this way I can get discounted rates on my work once I got bigger I wind up opening up a body shop of my own
The Pricing Breakdown Is That your cost price for all the fixing or is that the price if one was to take it to a mechanic
All the prices in the video or my costs my pricing I do everything in the house except for the bodywork we sent that out
New subscriber. Great content!
Welcome aboard!
Great video but why wasn’t the cost of labor for repairs included?
Because I did most of the repairs myself
Hello, who was the winner? I couldn't find the part 3 video from either of you two. Also, thank you for the detailed, knowledgeable, and honest videos, now I am a subscriber.
Thanks. We are still making part 3. If you go to his channel we just put out a podcast video. Going over good details about flipping cars. Ryan Pineda Show
@@LuckyLopez777 Oh awesome thank you.
Did part 3 ever get uploaded? I can't seem to find it.
yes its on his channel
@@LuckyLopez777 is there a link? I couldn’t find part 3 🧐
Hi Automotive Life I love the content that you are putting out this is exactly the kind of content I’m looking for because I’m in the process of getting ready to apply for my used car Dealer License and your content has been very helpful in this process but I have a question and I hope you can help me with it when it come to selling import cars does the country the car was manufactured in change the price you can sell the car for in the United States
Are you talking new cars? Most franchises have an agreement with their local dealers they will only sell to them and the dealers set the market price for their country for example you can buy a Honda civic in Mexico cheaper then you can’t United States even though it’s the exact same car but you cannot bring those cars to the US brand new because Honda won’t let you
Well no not new cars and what I’m really trying to say is I bought a car from the auction and inside on the door frame the plate say’s that the car was manufactured in Japan so because it was manufactured in that country have you notice any change in the retail price for cars that are manufactured out of the country but are sold here in the USA because some people tend to believe that cars like Honda that were manufactured in Japan are better built than the one’s that are manufactured in the USA and may pay more because of that. and that’s what I was wandering
@@teecool3459 It’s such a small market I wouldn’t recommend it but you can if that’s what you want to specialize in the funny thing is is if you look at the first letter of all import vehicles if it has a J it comes from Japan but there’s a third of those to still come from Mexico so even though they have a J they could be manufactured in Mexico and there’s more Honda Toyota Nissan is manufactured out of Mexico then there is out of the United States.
I may sound ignorant but if an average person like me would start flipping could i expect that all the numbers in parts did not include labor?
Some cars I fixed myself so no labor. But usually I tell people to add $100-200 per car
You are 100% right. Overhead and labor were no factored in and they should have been. They probably made about half the profit. You and I would have lost money.
Would you say most dealers in LA actually take care of the cars and fix them up as good as you do?
To be honest it depends on the dealer because I have people here in Vegas that literally wash their cars and park them on the front line they don’t even change the oil most dealers are extremely cheap they won’t fix anything but that’s why their Google and yelp ratings are like 1.4s lol. To me it’s worth putting two to $300 into a car to make the customer happy but at the end of the day if the monies not there and you can’t put it in there then I understand
I would have anchored higher on the Lexus asking price.
this was month ago market was much cheaper then. not that car is 6-7k all day in vegas lol
@@LuckyLopez777 it's also something that can vary regionally, I'm in the Northeast and my impression of the typical buyer of a cheap (under 10k) Lexus is someone who is much more interested in the badge/image than the technicalities of the car.
When is the 3rd video coming out? Curious to see who won.
It’s coming at the end of the month 😁
Great video, how long did it take to fix evreything and sell it, also is it gonna cost more to fix the cars
Thanks Alex. Make sure to tune in to part three we’re gonna go more into detail about selling it in the recon cost
You have a shop/business. Do you add cost of labor into the prices you put on the windshields? As a person wanting to get started in this business, part cost is one thing and then there is the cost of labor that is added to that windshield breakdown that can blow profit margins. Should that cost be factored in? Thanks.
I do the work. so no cost
I can't find part 3.😢
Please what's the best way to buy cars and export ?is there any need for Dealership License, Wholesaler License, B/License ?
What's the best way to start the business I want to specialize in exporting cars. Buy from Auction and sale pls suggestions
If you’re doing business in the United States you have to have a dealers license but if you’re buying from a different country and exporting you just got to get an expert her license it’s much cheaper but I’ll probably do a video about it thank you so much for the idea
@@LuckyLopez777 Thanks for your immediate response 🤝
I'm out of America I base in Dubai but I need to buy from America and export
Good video. I can't get the link to part 1 to work?
ruclips.net/channel/UCZc5ImWILZmnxxA-RNgTY-Q
Thanks. heres the link
This was a good seires!
Thanks. Part 3 is coming soon
How did you flip car's without a licence to get you're money up for you're shop and business?
I feel like you’re not accounting for labor costs in the numbers as the parts alone add up to a majority of the numbers you threw out. Awesome video and very helpful but I’d be curious to know what the real profits are after you’ve paid your employees and covered all your overhead costs of running the shop.
Once I cash out all profits at the end of the month it’s usually about 10 to 20% of profit what goes towards overhead. And some of the cars I fix myself. So not cost just my time
When you add in overhead and labor they made less then half of what was posted. You and I would have lost money.
@@boydizza it's a "volume" thing. You do this 30-50 times per month and make good profits
@@Slikk750Blokk I can see that. Only doing 1 or 2 a week wont do a whole lot for your overall profit
I have to agree with this comment . Had to pay a mechanic or a body shop guy that had to he extra $ . Probably still made a profit but not as much
Hello sir
Great idea 💡
Thanks Phill
Quality content thanks
Thanks 😁👍
Looks like a great series. You may want to invest in a camera gimbal stabilizer.
I actually have three of them the only thing I don’t have is a camera guy lol
@@LuckyLopez777 don't need a camera man. Check out Hoovies Garage.
@@Simplyput3451 I’ve seen his shows yeah you actually do need a camera guy he’s got one too lol. Plus when I’m running around the auction I need somebody to follow me
@@LuckyLopez777 check out his latest vid. No camera person. He will sometimes use a tripod.
the expensive part is the labor cost
Yep. I always try to do the most myself
Great!
Great!!
Great!!!
Thanks
Thanks you
And thanks again 😁👍
How do I get lines of credit with just a wholesale license?
you can. I would book a call to go over it. we can show you how to submit a app and where to go www.Automotivelife.com
The hood of the Rav4 looked really faded. I'm surprised you decided not to repaint that. Wouldn't you have gotten your money back on that?
Not on that cheap of a car. It sold quick. As is. If I wanted to finance I would. But I wanted a cash sale quickly
Hey Lucky! We are a new dealership in the Reno area. Auctions here are not as big as the one you went to in episode 1. What auction is that? Thinking about making a trip to Vegas and picking up some cars.
There’s 7 auction houses here in Vegas. I would sign up for all then. I think Sacramento is closer to you guys and there auction is actually bigger the. Ours here
@@LuckyLopez777 the auctions in Sacramento are no where near the size of the one you were at. Can you say which one you were at in the first episode?
@@ronguzman538 Man I’m in Sacramento is pretty big I remember going there years ago to buy a Mercedes from there and San Francisco their lot is actually a lot bigger than the one her we have in Vegas
Great Video!
Thanks 😁👍
Really enjoyed this content. Consider making this a series where you detail every section. Transparency fairs very well with viewers. Look at Graham Stephan, he is completely transparent with how much he makes a year and gets lots of views. Not asking to detail your income, just be detailed in your car flips. Great video!
Thanks. Will do 😁👍
Looks like a few different shades of silver on the passenger side
lexus Im sure was painted 2-3 times lol
For a person who is just starting out, those profits might be a little off. $495 for parts, need to add labor cost for the Truck. If I was flipping the truck and did all that work, labor would cost me at least $800 to $1200 just for labor using my back yard mecanic. so my profit if I could sell it at that much would be around $500 or less. ( I mean no disrespect, Im a fan)
Yeah and some of my other videos I talk about how I built up a system that helps me keep cost down but I tell most people to try to learn how to be a mechanic first while you’re flipping so this way you can save as much money on your repairs my average of what I took out of my profit is about $200 per car when I comes to my car flipping for actual cost of mechanics and overhead when it comes to the cars is still on my dealership I take about $1000 off of every car for overhead cost and marketing
@@LuckyLopez777 Awesome, you took time to reply. I agree, if your going to be a house flipper, learn how to do some construction work. If your going to be flipping cars learn how to be a mecanic and a body man. Appreciate you sharing your knowledge.
@@fixnflipncars3505 I appreciate you sharing some of your insights. And thanks for watching 😁👍
Content is great, but it is not the same price for body work and parts as well as repairs out in Florida. Prices for body work are almost double what you estimated. I know you have your own body shop and auto shop probably, so cheaper for you for paint body and repairs. Just want to make sure newbie flippers understand some of those recon prices can be more for them. As always great content though.
Are used to live out in Miami years ago there’s a lot of cheap shops where you can get repairs done for $100 a panel you just have to find them you need to find people that are doing work out of their house or people that are renting a small shop also you need to give him the volume that’s what gives you the discount it’s very hard to bring a one car and ask for good pricing but I said my stuff out to other people and I usually get about $100 per panel
@@LuckyLopez777 very true , volume makes a huge difference. I agree with you I just figured new flippers may need to learn more on finding those shops and negotiating the work.. may be a good video too. Lol. Keep up the good work and keep spreading your knowledge it’s great content!
@@eddiej936 I’m actually making a video talking about how to negotiate with vendors to get better pricing. And what the industry standard is and what’s a good deal and what’s a bad deal
Thanks Eddie 😁👍
@@LuckyLopez777 that’s Awesome. Lord knows it’s needed when starting in this business!
Part 3?
Advice if you don’t know much about cars but want to start flipping
Best advice I could give is Start small and stick to vehicles you’re comfortable with if you’ve owned a Honda Civic in the past go buy another Honda Civic at least you know the normal problems and issues with this do wanted to time go very slowly and try to do everything yourself clean them fix a mechanically and market in themselves so you learn all aspects of the business
so how do you get a license to go into a auction?
apply for wholesalers or dealers license
If you sold the focus for $7000 why díd I saw the same car sold on ACV for $4200 well I think you are still getting offers for that car and same thing with the Land Rover sold on ACV for 3000 oh and the Lexus for $3500 on ACV as well
I always recommend posting stuff up online while you’re selling it on Facebook craigslist and offer up a VC is a great tool to let you reach many dealers
How can I learn about cars without going to school for it? Are there any books that you recommend?
Unfortunately there are not a lot of books that you can read from but I would definitely do some apprenticeships in shops in dealerships is a great way to get started also with watching RUclips videos like this and seeing if you want to work on cars so long cars maybe on automotive business there’s so many ways that you can approach it but I would definitely start off with maybe trying to be a apprentice somewhere
@@LuckyLopez777 i sure will look into an apprenticeship somewhere! wow thanks for the reply!
@@sharkytore692 No problem good luck in your new adventure
COOL !
Yesssss
Here for the Hawaiian shirts. Lol
I definitely will be wearing one in the next video lol
Only thing u failed to mention u got your own mechanic so your not paying labor cost
Because i did most of the work
I wonder how much that focus was actually worth
I ran KBB retail was $8900. The titanium open was like a $2200 option
How did you get a SOLID Toyota with just 150k miles on it for less than $1500? LUCKY! Anything with a Honda/Toyota badge and less than 250k is instantly $3k here.
Are usually wait till the last minute of the auction because a lot of dealers blow their wild in the first hour or two of buying cars so I just take my time and wait till the end when there’s nobody left
@@LuckyLopez777 Thanks for the insight!
@@KylePetersonDmaster223 Also I try to by from the seller directly so I save in fees 😁👍
@@LuckyLopez777 100%!
What action did you buy these cars from? Copart or?
Tow yard auction a public auction. And ACV
You need to count how much labor is your numbers aren’t entirely accurate
Most of the labor I did myself that’s why I didn’t put it in the numbers
@Jon Doe 3-4 days
Labor is free? Car dealership doesn’t make that much money.
we take a fixed percent out of profit every month for labor. and yes we do make money on cars :)
You are way off on how much you put into. I am really getting tired of RUclipsrs and business owners posting false info online just to get views. You did not include the cost of Labor that you had to pay your mechanics to work on it or the cost of of utilities it took to fix all 4 of those vehicles. You cant just put the what you pay for the parts as your over all cost. If you want to give an actual cost of what it took to get those cars ready to sell you have to add in at least the labor hours you used to pre-pare them.
Just like I told everybody else I did most of the repairs myself that’s why I did not include mechanic price in my Flips. And the video is about car flipping it’s not about how much my dealership costs thank you for your input
@@LuckyLopez777 When you are talking about flipping, you have to include those cost or the chance that those cost will could play a part when you are giving an actual "fact" of your profits when you are teaching / showing someone else how to flip cars or anything else for that matter. Otherwise you are giving them false hope of your profit margins. I spoke with 2 different mechanics and made lists of everything you did. If someone did not do 100% of the work themselves they would have lost money on every car bottom line. I am also pretty sure that you did not personally do this labor yourself and even if you did the right and honest thing to do would have been to mention that you as the flipper may acquire additional cost depending on the labor and time it takes to prepare the car for resale. That is all I am saying.
I gave the best number as I possibly can when I’m working on my own car is I don’t charge myself labor and I don’t charge myself time when it comes to purchasing the vehicle now when I do dealer consulting I put everything down to the penny because there’s a cost of employment and running employees but when you were a regular person fixing cars in your garage you’re not gonna charge her self to go fix a car to look at a car to spend time online shopping that’s why I do it this way. It’s not that involved compared to when I do dealership consulting it’s much more numbers driven and everything‘s on a spreadsheet. 😀👍. Thanks for the input I try to be as transparent as possible I’m going to make a new video this week talking about how to save money on recon and other things I’d love to get your input on that one as well
@@LuckyLopez777 Looking forward to seeing more of your videos. I totally understand that there is no cost to you personally doing all the labor and you don't five yourself a $$ amount per hour for the time spent. That is one of the things I love about having a side hustle or side jobs where I get paid for a task or manual labor vs sales. much more profit in it when you can do it yourself. Thanks for responding. I think everyone should have a side hustle as an extra source of income. Especially now that we have seen what Covid can do to our cities, states and to our countries economy. Need to find a way to stay ahead and put away for a rainy day.