No Hype. No BS. Simple strategies that work.

Don’t Play Favorites

Have you ever heard the saying don’t play favorites? It’s never more true than when you’re buying and selling cars. When you’re buying with the intention of selling, don’t limit yourself to what you would personally enjoy driving.

Buyers are looking for a car that fits their needs.

For one person that may be a van with a 4 cylinder engine and a top speed of 80 mph, but fits their entire family comfortably. For another that might be a V8 convertible that can go 0 to 60 in just a few seconds, because they have a need for speed.

Try not to let your personal preferences determine what types of cars you buy, otherwise you may end up with a bunch personal vehicles that no one else wants.

Special Edition Car Flipping Q&A Podcast

Are you ready for another car flipping podcast that’s ALL ABOUT YOU?! This show is another special edition episode where I devote the entire podcast to answer questions from you like these:

  • Is Copart a good place to buy vehicles?
  • How can I get good deals on cars from Facebook?
  • What happens if I get stuck with a car that I can’t get rid of?
  • When am I ready to get a dealer’s license?

Would you like to submit a question to the show? Just send an email to jeremy@3hourflip[dot]com and I’ll do my best to answer the question on the show!

Show Notes:

http://www.copart.com

http://www.facebook.com

The 3 Hour Car Flipping Course – CLICK HERE to view the first lesson.

Click below to listen to the podcast or download it to your smart phone. Cheers and happy flipping!

Be a Buyer’s Agent

Interested in an additional way to make money with cars that doesn’t require any money invested? You may want to consider being a buyer’s agent. There are tons of people out there that HATE the idea of searching for a car or just simply don’t have the time (like a busy CEO). They don’t like the idea of shopping, comparing prices, dealing with dealerships or private sellers, making and answering phone calls, etc. And they may be willing to pay you to do that for them. And since you are already out there shopping for deals on cars, it’s very easy to find great cars for other people at the same time you search for deals to flip.

Whether you charge a fee per car or charge a percentage of the sale price, becoming a buyer’s agent can be a great way to supplement your car flipping income until your next deal pops up. If you’re interested in testing the waters on this idea I’d recommend putting a free ad out on Craigslist or printing some business cards that advertise your Car Buyer’s Agent Services. You might be surprised to find people that are willing to pay you to do what you’re already doing.

 

Cool Ways Other Than Flipping to Make Money with Cars

Car flipping isn’t the only cool way to make money with cars. In this episode of the 3 Hour Car Flip Podcast I’ll be covering some other unique and interesting ways to make money with cars that won’t cost you much time or money to get started.

And as always I’ll be answering questions from listeners just like you. Today’s questions are “How can I get the money I need to make my first flip?” and “Where should I post the reliable car wanted ads?” It’s another great episode, so don’t miss it!

Would you like to have a question answered on the podcast? Send a message to jeremy(at symbol)3hourflip.com with “question” in the subject and your question may be featured on the show!

Consider Trading Up

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Trading cars for other items of greater value is a fun way to barter your way into profits. A seventeen year old boy named Steve even used Craigslist for a series of trades to swap out a cell phone for a Porsche (article HERE).

There are many ways to use trading and bartering to increase the size of your bank account. For example, if you have an SUV it’s likely that someone with a small car is out there looking for a larger vehicle and they may be willing to trade it for your SUV, even if their vehicle is worth more money than the SUV.

Many people are willing to trade items like four wheelers and motorcycles for vehicles at much lower values and vice versa.

If you continually up-trade, it’s easy to see how quickly money can be made. If a $500 vehicle is traded for a $1000 motorcycle which is again traded for a $2000 boat which is traded for a $3000 four wheeler, you have reached 6 times your initial investment in only 3 trades, and only one of those trades counted towards your yearly buying car limit.

Top Tips for Inexpensive Repairs

In the latest episode of the 3 Hour Car Flip Podcast we’ll be going over how to get repairs done inexpensively and effectively. I’ll be covering topics like these:

  • Where should you get the repairs done?
  • Where should you buy parts?
  • Should you do the work yourself?
  • Should I spend a little on a car to make more on the back end?

I’ll be covering those questions and more. Below you’ll find the show notes and URLs that were mentioned in the show.

  • www.car-part.com
  • www.discountbodyparts.com

Would you like a question answered on the podcast? Just send an email to jeremy@3hourflip.com to get your question answered on the show!

CPro Demo – Use Notifications to Get Deals to Come to You

One of the best ways to get deals to come to you is to setup instant alerts via a smartphone app. That way you’ll be notified as soon as an ad is posted to Craigslist with your customized specifications. In this video I’ll show you how to set this up and also how you can use this app to quickly and easily scan Craigslist for deals. I hope you enjoy this video!

Consider Referring to Dealers for Extra Cash

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Dealerships are always on the lookout for ways to increase sales and they are willing to pay for it. I have a family member that manages a small dealership and offers $100-$200 in cash to anyone that refers local customers his way.

If someone has decided that they aren’t interested in purchasing a car that I’m selling, I’ve often suggested that they visit my family member to make their purchase instead. After all, you won’t sell a car to EVERY single person that comes to view what you’re selling, so don’t let that interaction go to waste!

 

Another Car Flipping Story

In this episode of the 3 Hour Car Flip Podcast I’ll be going step by step through another actual car flip that I’ve done and explaining some of the challenges that I ran into along the way. I’ve heard from many of you that these stories are very helpful and inspire you to go out and flip your own cars so I really hope you enjoy this episode!

And as always I’ll be answering questions from listeners just like you like “Should I pay over KBB value for a car that’s been pimped out?” and “I have a check engine light on my car. How do I find out what those codes are?”

If you’ve flipped a car recently I’d love to hear about it! Send me a picture with a quick description of your flip because I love hearing your success stories. And would you like to have a question answered on the podcast? Just send an email to jeremy@ 3hourflip.com and I’ll try to answer your question on the show!

Here a the links to the code readers that I mentioned in this podcast:

Full Feature Code Reader

ELM 327 Adapter for smartphone app

And I also talked about a GIVEAWAY that I’m going to be telling you more about soon. Make sure to enter your email below so you can be one of the first to find out what it is! When you enter your email I’ll also send you the Top 3 Ways to Get Deals to Come to You digital download. Cheers!!!

Consider Consignment

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If you run into the situation where you’re having difficulty selling a car yourself, or if you want to spend less time on the sales process, you may want to consider working out an arrangement with a retail car dealership to list the car on consignment. Under a consignment arrangement you let the dealership place your car on their lot and in exchange for the dealer selling the car for your desired price, you’ll pay them either a specified commission (which is a percentage of the overall sale price) or you’ll allow them to keep any amount over your desired price that they’re able to bring for the car.

If you have enough margin between the private party price and the retail price, there can be plenty of incentive for the dealership to do everything they can to sell your car. And the best part is, it doesn’t cost you any extra time or money. Once the dealership sells the car they’ll send you a check that you can take straight to the bank.

If you do enter into a consignment agreement with a dealership, make sure you have your agreement written down and signed by both parties. That way you’ll safeguard yourself against any unethical salespeople that might “forget” what your original agreed-on commission was.

Car Flipping Questions and Answers – Special Edition Podcast

In this podcast I’m going to do something a little different – I’m going to try to answer as many car flipping questions as possible. I never really feel like I get a chance to answer all of the questions that you send in so in this special edition podcast I want to devote the entire show to that very thing. I know I still won’t get to all of the questions that you’ve sent in but I’m going to do my best. In this episode of the 3 Hour Car Flip Podcast I’ll be covering questions like:

  • Do you ever finance the cars that you sell to make more money?
  • What do you do about insurance?
  • Have you ever felt unsafe when flipping a car?
  • What has surprised you about car flipping?

Please keep the questions coming in! I love to hear your stories and to learn how I can share my car flipping experiences to help you go out and make money and have fun car flipping. Right now I’m working on a couple of big projects that are really going to help you find deals on cars and make more money on each flip. More details coming soon!

Thanks for listening and be sure to subscribe to this podcast so you’ll always get the newest episodes!

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