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    Registered User DoragonKingu's Avatar
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    Undercover Billionaire Flipping Cars

    Has anyone else been watching Undercover Billionaire? He flipped two cars for big money. How easy is it flipping cars for 3X, 4X+ profit in the real world?
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    Throbbing Member jamalfudge's Avatar
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    I think it's something you gotta start small in and know what you're looking for. Start w/somewhat in-demand used cars with low mileage, good body, no issues, good tires, and just about most importantly find someone who is motivated to sell at a lower than average price. Then take your time cleaning it up and sell it for a profit, expand your area in which you're willing to sell. Then take those funds to the next tier price range, rinse, repeat.

    I don't do this, but working in insurance I'd noticed a few clients who've either flipped cars out of a hobby or to get what they wanted over the years. But I think you'd be silly to think you'll get 3-4x every time, that might be a unicorn deal right there.
    Authorities said...best leave it...unsolved
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    Registered User elterrible987's Avatar
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    TV shows are for entertainment not for career/financial advice.

    For all we know that chit was staged and not even real.

    I know someone who buys salvage cars at auction and "flips" them. Its not his main job and he also does it for fun more than money. Hes making 2x on a car but he spent significant time fixing it himself, not just a quick detail but replacing bumpers, troubleshooting electrical issues ect.
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    Forever aBOARD guest89's Avatar
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    Money to be made in it but you need capital. A place to store the vehicle. And the ability to work on them/fix them up. Your delusional if you think your going to regularly purchase undervalued cars then make quick/easy flips and make money. There is a mechanic miscer who mentioned awhile back he does it as a side hustle. Basically buys a car cheap that has minor problems that the owner doesn't want to deal with/thinks will be too expensive to fix. He fixes them and sells for profit.




    There are always small used car lots springing up in my area, which usually go bankrupt. So basically people trying to do this same thing on a scale of 10-30 cars. This indicates to me, if your a mechanic it can be a good side hustle to make a few hundred bucks here and there. But its most likely not profitable enough to scale or turn into a full time operation. If your a mechanic you could most likely make just as much money doing small side jobs for cash.


    By the time you factor in upfront capital, any repairs you make, holding onto it until you sell it, etc. the risk and time required might outweigh the rewards.
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    OG @ Castle Grayskull Tornach's Avatar
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    It will work if you work in the industry. Say, you're a mechanic and you know of the other people involved in the industry.
    It'll open you to opportunities that outsiders would never come across.
    Getting cheaper deals and being the first person in line for said deals too.
    "I've watched a lot of movies, I know what I'm doing."


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    Registered User addonsix's Avatar
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    Originally Posted by DoragonKingu View Post
    Has anyone else been watching Undercover Billionaire? He flipped two cars for big money. How easy is it flipping cars for 3X, 4X+ profit in the real world?
    3-4x is really challenging, but 1-2x is quite doable
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    Registered User Cartiac's Avatar
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    Well you saw it on TV it has to be real right!? It's not like there is already a hugely competitive used/restored auto resell market where they even have massive auctions or the half a dozen other fake TV shows about it but I guess calling it flipping makes it completely new and different where you can expect to purchase a car for peanuts, spray paint it and get suckers to pay 4x more than you did.

    To be serious, the used car business or "flipping" as you call it has been around forever and is probably the most notorious type of shady business because literally anyone could do it which makes it extremely hard to make any profit much less 3-4x, that is just stupid. Even if you own your own body shop and have a constant supply of oblivious owners willing to hand you extremely rare exotics hidden in abandoned garages you aren't going to make that kind of profit selling used cars.

    Also being around the industry enough, if you haven't realized it yet I can guarantee to you absolutely nothing on TV is real.
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    SheshBesh! Rajc's Avatar
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    very easy to flip cars if you are on the VIP list for the next ferrari hypercar, brb laferrari sold for what 850k? now for 3M

    mclaren senna same
    mclaren speedtail same
    lamborghini reventon same
    porsche 911 gt2rs etc
    etc
    etc
    i used to fight on the roof - the loser had to jump
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    Originally Posted by elterrible987 View Post
    TV shows are for entertainment not for career/financial advice.

    For all we know that chit was staged and not even real. //
    That's all it was.
    Me caveman, put round things on bar, lift, pound chest.


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