How Did I lose Money on a Free BMW ? - Car Flipping Gone Wrong - Flying Wheels
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- Опубликовано: 16 окт 2024
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Tags: Finance a used car flipping cars for profit side hustle entreprenuership great side gigs jobs that make alot of money High Real Estate Prices How to Day trade real estate investor
how to get into a dealers car auction and how to get access to a dealer license become a used car dealer own a dealership used cars Buy Wholesale how to become a car dealer start flipping cars for profit make money selling cars daily dealer dealertrack dealer rater acv auctions dealerships jobs near me online class course mentorship license plate cost number price
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there's nothing more expensive than a free BMW lol The next thing? "there's nothing more expensive than a cheap ferrari"
I would have given you $1500 on the BMW.
Surprise, surprise! Craig does another money grab. He wants you to get surf shark VPN so he can make money off of you. When are you people gonna realize that the only thing Craig cares about is money? I think the truth of the matter is if he was faced with a choice between his family and money, he probably picked money. And guess what he’s teaching them to be just like him.
I wouldn't go so far as to say he cares more about money than his family, but he IS OCD when it comes to making money.....
Love that you show the reality of running a business.
Spray paint gods getting you back for all the spray paint you've used on previous cars
great editing on this video, I like the time lapses and flash forwards. nice flow
Im a full time professional detailer and detail Euro cars on a daily basis. I gotta say, probably 80% of the cars that are trashed bounce back and always turn out like second to new.
Craig, Just an observation: You work hard and deserve all the success you’ve accomplished. Keep up the good work. I enjoy your videos.
Thanks for that!
Ack!!
@@FlyingWheels my observation: Paint all your nails black so that one doesn't stick out much.
He is a used car hack let's not give him a fatter head then he already has. ..... Just shitten ya, Craig is good guy and if there were more salesman in the automotive world like him the profession wouldn't be thought of so poorly by consumers. Can you imagine meeting a customer, shaking their hand and realizing they think you are a slippery, slimy about to "bang me in the _ss" individual? Not sure I could do it ..... 😕
There's no way that car doesn't need $4K in service.
The cheap 6 cylinder ones are much more forgiving thank goodness 4 k is possible but much less likely
thats exactly why it sold for as cheap as it did. another used car dealer probably figured they were gambling on that one. they probably turned around and sold it for 5-6k... idk why craig sold it at auction it makes no damn sense to me. other than him knowing that there was mechanical issues.
Cool video and realistic for us car flippers who are trying to make it . Thanks Craig
The pliers on the hood of that sierra made me cringe so bad
Yes I came here to say this!😂
Love how much overspray you got on the brakes lmao
You indeed win some & you do lose some. From a car guy perspective though who grew up in a used car place like yours, doing just what you're doing....if you can MAKE $500 between a cheap Chrysler & an 07 BMW of any numerical designation, and make cars look good while doing it, that's a winner all day long. There's always your other units that pull surprise trades turning out to be the grand slam diamond in the roughs....just NOT the old bimmer trades.🤔😄😂
Great job, enjoyed the video. Keep up the good work Brother.
Wow, that orange peel means a lot more work to get it smooth before allying the 2 pack clear..Craig, that mark on the back seat is from tyre mark from a wheel left on the seat for some time.
You know a lot more than Craig.
Was just going to mention tires
I’ll be doing the same paint restoration and detailing with my 07 335xi that I took off the about a year and a half ago. Thanks for clutching with the video!
I love when something sounds so easy, n just getting the hood open is the problem lol. What a kick in the nuts life is sometimes.
Good job! I think the marks on the back seat are from a tire.
Haven't finished the video yet but I owned 60 plus vehicles and bought my 1st BMW last summer. 06 330i for $2,800 only needed a o2 sensor and windshield! Yeah I learned a lot about BMW's. But I have ADD too and once I start I can't stop. Now I have 9k into a 3k car with 233k miles but it was worth it I love the car so much I'm selling my 34k mile CTS-v coupe and probably going to buy a 335i to still have something fun to drive but I'm keeping the 330i until it dies!
Craig, I painted vehicles for the last 30 years. On that tire uses Vaseline on the tire to protect. Message me if you want to know how to improve your paint jobs cheaply
That's really cool of you being willing to help him out. I somehow doubt he will take advantage of it though. I know I sure would. I love doing body work, but I imagine I suck at it.
Love that idea!
Someone got an absolute steal on that BMW!..That was a damn nice car for 3K-4K IMHO...what else can you get for that money (retail) these days? (Not much)...not something as presentable as this...I think you did a great job with what you had and considering goals (you weren't out to make it perfect)--it looked a million times better than what you started with...keep up the good work.
Old BMWs are never good deals.
@@jmorris023 Unless you’re going to work on them yourself. Then you have the pleasure of driving it. And those BMWs were terrific fun drivers!!
@@whammond511 No car feels like a BMW, I'll give you that.
Wow that went cheap, your getting 2500-3k in south GA
The rear seat damage is not burns. PO had a dirty greasy tire in the back seat likely on a hot day
If I owned a detailed GMC Pickup and someone set a pair of PLIERS on the hood, I’d question what the hell they were thinking !
Why would you do that ? Just love buffing scratches out of the hood ?
Hahaha I noticed that too rusty pliers
Craig, can you please explain why you didn’t want to finish minor imperfections and retail the BMW? Why have you decided to wholesale it?
Because he didn't want to do any mechanical work or deal with a customer having to do it
Oh my, take the pliers off the hood of that truck 😂
Some days you’re the windshield and sometimes you’re the bug
Ehhh. $500 profit from two turds isn't bad. I don't understand why you were wasting your time on the hood and wheels though for a cheap auction car. Another dealer isn't going to pay more for crappy work they have to redo.
why did you take it to auction instead of trying to sell it on your lot for a profit?
First time I’ve seen this vid. The hood, I would have just scuffed it with 1500 wet sandpaper, then sprayed the base coat, then sprayed the clear coat and hope it matches with the rest of the car. But every detailer has their own tricks of the trade. You did a really nice job bringing the paint back. The interior looks great, the engine or all engines can be time consuming because you never want to use a pressure washer on it. Degreaser and a garden hose is usually the best bet. Wetting the floor is something a lot of people forget to do. The orange peel can be buffed out, not a huge deal. All in all, nice work.
Craig, good video on the realities of the car business. Most don't document the lows of the industry.
With thst said, please take the wheels of when you paint them! It doesn't take long to take them off. Now to clean off the paint on the knuckles, Shocks, and brake components will take much longer.
Upholstery guy can fix the rear seat by spraying it. Cost 60 bucks. That was an eye sore. That’s why you didn’t get 2200 from the Auction. Because it narrowed your bidders. That BMW could have gotten you 6-8k for retail though. If you put more Time into it. Then you would have profited more. Great video though 👍🏼
I liked German, but good to see you getting stuck in with the detailing ✌️
Vinyl and fabric paint couldve fixed the seat issue,for future fixes.remove the rims sand them down recoat with silver.wish I was close by I would work for you after work and weekends. Love your show
Those window regulators are ALWAYS broken. I know guys who bought 3 series and all 4 came messed up
Another great and informative video. Can't believe the BMW with a stick went to cheap. Thanks for sharing the realities of the sales life.
its because they are money pits , lol
Craig how does a car flipper decide whether to fix a car or just dump it and move on? Is it all dollars in and dollars out? I mean scrap on a BMW probably gets you 400 bucks or so?
Craig. Suggestion. If you are doing a big makeover I think you should stage the car at your photo location and then take photos in the same location and angle for the comparison shots. It would give a much better idea of the transformation that way. Marks on the seat look like a tire thrown in there
It is interesting how you make the detailer almost sound responsible for the bad paint and then as an afterthought say that he wasn't doing the paint correction.
I have used that technique for spray painting wheels so many times quick and effective.
I push index cards around the rims when i paint them. Makes more room for my screw ups.
Miss German he was the paint correction guru!
Enjoyed it a lot. Huge respect for this video. What an eye opener. Wish you luck next time.
Just think yesterday I asked for more repairs, an you delivered before I asked. Yeah your channel is now my daily watch until I’ve seen the all.
Damn, I would have paid more for that BMW, but I guess it's an auction haha. Solid beater BMW for me in WA. For future BMWs, all those emblems pop off easy with plastic pry tools (including hood). I've owned BMWs pretty much my whole life (~20 driving years), so that's all I know. You're way better at a lot of things than me, but I would have taken the wheels off and popped the emblems out. I get it though, you have a time limit and money constraints. Seems like you need a sand blasting cabinet for things like those wheels, if you're not going to hand sand. Would look way nicer in the end, but I once again, I get it.
Craig, love your videos. Thank you for using whatever camera you’re using now. It’s so much better!
Cool video. I would like to see you do a car wrap & if you can make $$$ or break even. Could be less work I think.
Problem is he's not a specialist at that and to get good is a TON of labor and taking a car apart almost as much as for paint......to get a professional wrap job done with quality material is $3000+. That's a full single stage paint job price and won't last as long......sure a single stage paint may not be cool or show quality but it'll last a lot longer.
Single Stage was all they used for decades. It’s not the product as much as it is the prep work and then the paint job itself. It’s much harder to do and get good results than todays 2 Stage paints. That’s why it’s not done much anymore except as a stop gap.
Always solid advice, keep up the great videos.
Craig FYI kitchen liquid soap put in water will keep the paint from sticking to the sanding paper
Not surprised on the value of a stick shift 15 year old BMW. Only 5% drive stick. Not a big market. Plus it’s a BMW money pit so there’s that too
The best leather cleaner is actually Woolite (1 part) to five parts water.
Those black marks on the back seat are from tires.
Thanks for showing this. Yup, sometimes your up........
Hi Craig. Nice job on the bonnet, I really thought you would have gotten more for it at the Auction. But it's instant money there and then. 😅😅🇨🇮
Hi Craig I buy and sell cars in the UK , but lately it seems like every car I buy has a lot of work needing doing ,can you give me any tips to avoid this , great content
with the shotage of cars . everyone dragging there junk tradeins out of the back lot and trying to thousands for them .
As a used cars salesman you have to take $500 as good thing and not as a loss. Yes you lost in labor and time. Look at what it gets you on the bright side. That money can go toward paying off any of your utility bills. You can use that money right back into shop supplies because high gloss paint doesn't come cheap either so it bought you paint. If you need a new tool(s) or really want to go with a premium brand $500 can go toward that expense. Also you spend money on higher quality or more detail products but rather keep cost low with cheap stuff but rather use the more hybrid coating on the higher end vehicles.
$500.00 takes you and your family to a really nice restaurant on a weekend getaway.
Maybe that $500 will buy you one or a couple car expensive parts that you don't want to spend money on but could make for a higher sale or just be break even instead of taking another loss but even if you have to buy some part that you don't want to buy and taking a $500 loss in parts maybe the customer buying it still gets a slightly better reliable vehicle. I don't just thinking out loud at 3:30AM.
A $500 on your profit and loss sheet is money in your bank but yes you rather see the loss time in manual labor. If non these ideas aren't making you happy yet take that $500 and use it as a discount to your next auction fee, so that you can bid $500 higher to be winning bidder at the next auction. By taking that $500 and applying it the auction fee also makes the next car more profitable. You have very good options on how to spend $500, that makes it work by putting towards expenses or take it out and enjoy family time outside the house like on travel and entertainment.
Yep, those are all words.
It says stuck on the hood which is something that Copart writes on the hood of vehicles that they can’t get open with a hood release…. is very possible that this car was branded somewhere along the lines true mileage unknown since Copart couldn’t get the hood open
Would have found another rear seat from a junk yard, and put it on the lot for $3000.00. But hey, would've, could've, should've. And so you came to VA? Hope you enjoyed my home state and the sale. Must have been Richmond?
idk why you sold it an an auction after doing all that work. you could have put it on your lot and sold it for way more. i dont understand the logic behind wholesale a car like that. people in the auction probably thought it was mechanical nightmare and was rolling the dice taking a chance. because why else would a use car dealer put an old high mileage bmw in the auction? used car dealers buy cars to sell at an auction, then sell the shit that they cant sell in the auction. so the entire deal just didnt make sense to me. after doing all that work to make it look nice it should have been put up for sale on the lot. probably could have got 3-4x as much for it.
Yep dude is crazy he needs a bigger lot seems like
Hi Craig! Did you do a video on the Hummer , i wood like one if you didn't. Thanks from a big fan from sweden.
Don't understand why the Bimmer only got $1500.......did it have a ton of mileage?
198k
@@FlyingWheels $500 car on trade esp as bad as the paint was
Craig what is your advice on this i'm 14 years old but when i turn 17 my parents are thinking on getting me my first car they are stuck between giving me my dad's 19 bolt ev with a replaced battery or getting me a used hybird what are your thoughts on this craig? I know both of this options are junk
I have so much anxiety from the pliers on the hookd of the truck @ 3:55🤦♂️🤦♂️
I wanna bring my Escalade to you and have you bring it back to life!😊
Do you use clay bars for detailing?
do a video on how you slammed the index finger on your right hand. that nail is dead gotta get rid of it.
German is shacking his head watching you lmfao
Shaking?
Hey Craig I hardly ever see you buying dodge products like challengers & chargers, is there a reason for that ?
Really good honest vid and very helpful to me, showed me how to do a lot of things and do them quickly, thankyou.
Stay away from old BMW's mate. utter crap cars.
That car is def worth more.
Yea those are the good engines with no turbos to worry about less maintenance and they last for 300,000 plus
BMW's are a money losing proposition, the old one's were great!
I posted a negative comment on that Chevy dealer and noticed how many others did the same ! Lol
🙄
You'd have probably made money if the Chrysler had rich Corinthian leather seats.
Damn that sucks I would have bought it for 3500 cash if it was Retail or probably 7500 if it was financed
“ $500 Flip to a Z06 Series “ 👏🏻👏🏿👏🏽
Craig what product you use in your hair?
Could have saved time and energy on the hood using the Chris Fix method of removing spray paint.....
Another great video 😊
Why would you ever choose to wholesale a cheap BMW? Lot space? Needed some revenue? Seems like that would be an easy cash flip car for the "2 year paper plate car" owners out there. I don't know why anyone with a retail license would ever wholesale but then I am not in the business so just being curious and not critical.
1500 yikes that car is washington state would have been like 4 or 5k people are crazy up here
I like the honesty! Tu
Your labor is worth something...I used to use an "averaged hourly rate" to estimate better. Having a guy spend fourteen hours on some POS ain't worth it...
Dude you should have it at copart l sold my 2006 BMW with 226000 mile for $2700 and the car in bad shape
good story, not profit but entertaining
110 or 210 compound?
Pricing on the Hummer Craig ?
No 2007 BMW belongs on the road, hell even a 2017 is about ready for the junkyard.
obviously, you know nothing about the N52, N55, B58, N63TU+, The most reliable BMW motors, about on par with Ford Or Chevy Or Even Some Toyotas. Sure, there's some horrible BMW motors. But the ones that are good will stay on the road for 200k+ miles easily.
@@ZzzsamzzzG59 Can vouch for this. I’m a BMW tech and an owner of a 435i (N55) with 120k miles on it. It’s a super fun and decently reliable car as long as it’s properly serviced. In the past I’ve had multiple 2000’s (‘00, ‘01) BMW 740i E38’s (M62TU) and they lasted me 323,000 miles and 250,000 miles respectively. People buy BMWs expecting Toyota reliability but performance and reliability are on a scale. The more performance a car has, the less reliability and vice versa. One thing I gotta add though, the N63 is not a reliable engine (at least not in my experience lol). Now to the original commenter: Are there old BMWs that shouldn’t be on the road? Absolutely. Should all old BMWs get off the road? Not at all. It just depends on the car and the owner.
How much money to fix the windows?
BMW or BMtroubleyou ??? I love your videos Craig.
I’m a ASE Master Tech for over 30 yrs & own my own shop over 20 yrs. I stay away from Euro’s. I’m too small to tool up for them. And I just don’t like them. The owners are the worse
Why didn't you retail the bmw?
The way this video is edited makes me think my computer is broken.
Never really cared for that generation of the 3 series. Pretty sure there were many issues with all those e90/e92s
Craig, why did you offer the customer a $2200 trade in for a car that was not worth that much ?
Because a 2xxx bmw fixed with some elbow grease and parts is worth a lot more.
I thought it was worth it. I was wrong
@@FlyingWheels yeah I was shocked at the price especially with the market right now.......I however didn't take into account it's an xi which means not rwd which means no drift build, it's the end of project car season, and being in the N.E. but not CT (drift build central for NE) the seekers were probably few and far between. If this was rwd and west coast or FL or may have been a $5k car.
@@FlyingWheels And move on. You can’t make money whining about past losses and this was a loss, given the lost opportunity to make more with the same resources. It certainly looked like a winner in the beginning but no risk no reward. You learn from your mistakes. I would have wholesaled it just as you did because I wouldn’t want it on my lot. It doesn’t fit in with your image as a high quality used car lot. I wouldn’t want the buyer telling people they bought it on my lot. It belongs on a buy here pay here lot.
Your reputation as a source of consistently high-grade used vehicles is to valuable. That unit would end up being a “look at the car Craig sold me” instead of a “look at what I bought from Craig”. That subtle difference is what defines you from run of the mill used car dealers.
That’s a good 30 foot car, looks good until you walk up to it
Agree as soon as I'd take a closer look and see those wheels I'd wonder what else was hacked on this one.
Those marks on the back seat kinda look like tire marks.
I thought the same thing. Like that had a wheel/tire stuffed back there.
This is great I thought i was the only one who worked 11hr shifts a day just to get 500$.
Losing money on a free bmw?? Only a bmw man 😭
Surely you would have been better not taking in the BMW in part exchange and just getting a cash sale in the original car.
Yes
Sound off if you'd have given more than $1500 for the bimmer!
The wonderful world of used cars! Id rather sell a car that I know what I paid for and estimate the total cost of repairs than try to take a trade and do this and that to finally find out you worked for peanuts. But I guess they all can't be $5000 profit scores.
Tricks of the trade, worst paint job I've ever seen. Don't know how he keeps a straight face doing these vlogs.