Wondering what are some ways to make extra cash? I’m not talking about $50 or $100, I’m talking about ways that you can make a career out of. Today’s post is about one of those ways and that is to flip vehicles. Now before you run off, hear me out. It isn’t that difficult to get started in this area.
Clearly, one thing you will need is experience with mechanical issues. You will need to learn how to fix an engine or a dent on the side of the car. Don’t run off though because the majority of the time these issues just entail replacing the part that was messed up to begin with. At times you may need to replace the entire door of the vehicle because that’s where the impact was on collision. Remember, I said flip vehicles. That can be a sedan, pick-up truck, semi-truck, boat, four-wheeler, anything with an engine. You can find these dirt cheap on many websites including craigslist and others by just Googling them. Like “Wrecked Jeeps” for example.
One thing you need to be careful with is making sure that whatever is listed as being messed up or broken is really what is messed up and broken. It would be terrible to buy a vehicle with a messed-up gas pump and no starter only to find out when it arrives that the car was actually in a lake. Now you more than likely need to replace the entire engine. So, if you decide to give this a try, do your due diligence.
One positive aspect of going this route is that it is relatively inexpensive to start learning. All you need to do is buy some hand tools and get started in your own garage. What would you work on? Your own vehicle! All you need to start doing is taking it apart and putting it back together. Start with simple things like the tires, bumpers, headlights, battery, and so on. Eventually work your way into the depth of the engine like gears and pistons.
This all sounds fine and dandy but let’s get into some actual numbers so you can see what I mean. I will use some conservative estimates. That way it can be close to little profit. Say that you buy a crashed sedan for $4,000. When it arrives, it’s exactly what was said was wrong. So, you start working on it and the parts amount to $2,000. Let’s say it was in a bad front collision. Now your total expenses, not considering your labor, is at $6,000. Clean the car and put it out for sale for $12,000. (The car had low mileage and the interior is spotless.) You made $6,000 in say a month and a half. Now 12/1.5 is 8. So, 8*$6,000 is $48,000 a year. That’s not bad for conservative estimates. Especially with the time.
This was just an idea to give out to make some money. Vehicles are sort of a necessity like homes. So, they should sell like hot cakes. If you don’t have money for a car then try a motorcycle or something. Remember, do your research and look into it some more if you are interested. If you decide to do it then get fast at it and leverage. Get into the classic cars and you’ll start raking in the big money! Let me know in the comments below what you think about this option and good luck if you decide to try it!