Day in the Life of a Car Flipper
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- เผยแพร่เมื่อ 12 ต.ค. 2023
- Day in the Life of a Car Flipper
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I love the transparency Lucky
thank I appreciate it
I love the premise of your flipping philosophy. I'm looking to do the same thing in the medium duty equipment space. Keep up the content. I'm watching
you should make some videos about that
Lucky you are a very intelligent car flipper. Don’t stop making these videos you are changing lives.
Thanks for the inspiration Lucky, I went to my first auction and it was eye opening I'm definitely interested in starting a wholesale business in NYC
Just wanted to say thanks for such great content. I’m not in the car industry but I do find it interesting and love learning from you. So Thanks 😁🤙🏼
I appreciate that!
Just here for the entertainment. But it is interesting to see how the market works in the US. God bless and lots of love from Norway.
Thanks for watching all the way from Norway
Great setup Lucky, lots of future potential with the bays and the space!
Yes indeed! more projects coming
Thanks Lucky, these videos are great. Watching from San Diego; next time I'm in Vegas, I'll stop in and check out your car inventory
Unfortunately we are not open to the public out cars go to auction once a get a new dealership location i will have a big party
Great video Lucky. No questions - living vicareously through you!
thanks i appreciate it
Honestly 10/10 my uncle has a dealership since 1996 and everything he says is exactly what he tells me every day ESPECIALLY the part about not doing anything to a car until you have a title. Most importantly if you buy a car today and sell it and make $500 then it’s a successful deal turn and burn
Uncle is a Smart guy. good businessman
Another great video. Thanks for sharing and being honest. Your best in class.
I appreciate that!
Loving these more in depth behind the scenes videos Lucky!
thanks. more to come
Lucky love the content, watching from Australia but the fundamentals are the same. From a family of car dealers and flip a few on the side of my 9 to 5. Keep up the great work mate.
thanks for watching. all the way from AU 👍
Thank for giving so much info about the car sale industry.
My pleasure
Excellent video!!!!! For people that have no experience this is a great primer.
Thanks 😁
Volumes of repo cars are increasing. In my area there are many people with out of state plates. If the stop making payments how will the lenders be able to repo the car since they don't know where they are? Kinda like the problem you described where the underwriting of a loan put the dealer on the hook for the first couple payments.
yeah 30% of auto loans made in 2020-23 have moved during owner ship and are now. trying to find them. and alot of people never register their cars either
@@LuckyLopez777aren’t they using GPS trackers anymore?? 🤔
Hey, lucky, have you ever sold a car And the person never registered it in their name. And then you get a letter from a tow company or someone saying to come and get it?
Hey Lucky, love your videos. What kind of software do you use for fleet management/keeping track of each car and its recon estimates? Thanks!
Ty for your videos. I know nothing about cars. But im learning a lot from your videos. I might give it a shot. I have to wait three months to get my dealer license. What you think I should do or learn until I get my dealer licenses?
You have a 15,000 ton lift? (2:17) Those are some crazy-heavy vehicles out there in Vegas!
15k lift lol
Hey Dude, best video ever and very informative , next time tell us where did you get each vehicle from or who sold it to you, get the viewers more involved in the videos, and you will get more likes , I literally crave this type of content.can’t wait for the next post.
Watch my other car flipping videos i go into how to build a network on how to get cars
Came here after your video with Andrei Jikh. Your channel is really interesting. Never thought about this market at all!
Welcome aboard!
I want to meet lucky and see his shop. I am a flipper in Cali. Lucky is a master mechanic. He is inspiring
You thought of busting the channels apart? Like a auto channel to show fixes, a channel for market talk/finance/buyers guides, channel for car evaluation (rent a car and evaluate new vehicles), and a unique/cool build channel?
I would but its too much work and costs. I might post 3 times a week
Love the content, just start stockpiling ideas for the future. Better Call Saul was a hustler using college students and UNLV is right there in town.
Great insights and advice.
Thanks for watching!
💯💯💯 Lucky your videos are very interesting and motivate us
Glad you like them!
This is legal for YOU to do because, I'm assuming you have a dealer's license. For the rest of us, this is a FELONY: An “Open Title": where the buyer takes a title and sells the vehicle to someone else, never registering the vehicle or signing the title themselves. Therefore, the title “jumps” from one owner to the next without the title ever having any record of an owner. As title jumping is considered a felony, it is highly illegal in all 50 states.
Liked. Subscribed. Great informative video. Thank you.
Thanks for the sub!
New wholesale dealer here in the Bay Area. 👋 Auto repair shops are slammed for weeks and charging $200/hr+ in labor. I’m finding that I am having to do the work myself. Its not a great use of my time. Working on making friends with a gas station shop repair guy. Building relationships seems to be my best shot.
Do you use laser appraiser or similar to price your vehicles?
no anything under 10k. used FB and offerup. a 2005 tahoe has a KBB of $1100. but they sell at auction for 2800-3500 all day. also start looking for a mobile mechanic that you can send some jobs to. and build a relationship with
That old gold Acura RL in the back is a great money maker I buy those any day
Who's buying them. And how are they money makers? Didn't they have a rwd engine layout but power the front wheels?
I bought it for $1000. no one wanted it. its runs great. saving it for a project
they are rare. yes RWD. we are trying to make it a drift car for fun
Just looked it up, they are fwd based awd.
@@Fernan2010 they are the greatest $1000 dollars car you can get, those things are usually bought by old people and are taken care forever, they are also ahead of their time with technology and stuff they got, suspension is amazing, great cars for the money.
Yeah this is good. It's very realistic.
Bread and butter video. Great!!
Thank you 😋
Lucky, fantastic video!
Quick question I hope (I’m in SoCal LA County), what’s the best way for a small beginner guy like me, work with the title and taxes when purchasing a private party to private party (i.e. should owner release liability to my personal name? (will the DMV get to us)?, should we try to keep the seller from completely filling out the original title to make the resale to another party easier?, etc…)?
My dad had a body shop (he had us work with him repairing and sanding cars in our summers as kids) and I used to build some street race cars, and I own a few cars now but would really love to do more of this.
0:04
I’m in my 50’s and I have some funds to get going. :)
Thank you for your time in advance.
Have buyer and seller meet at tax office to exchange money and title.
Exotic cars = is takes 10 to make you and 1 to break you.
Wrapping is oftentimes cheaper than paint.
I did that on a benz with pearl paint. 10k to pairt $2k to wrap lol
😂😂😂 “flipping couches” nearly made me fall off of mine. Lucky-car prices still being a bit elevated, is this a good time to even go into flipping as a beginner?
I have buddies that flip couched. always money to be made out there
I have a repair business and an a licensed dealer. When repair customer wants to “trade their car in” I get them to let me sell it at Manhiem
If I’m buying to retail I keep exactly what you’ve been preaching. Affordable cars & SUVs under $8K. Since I’m in the repair business. Consumer will pay more from me. I buy to retail what we want to work on. We don’t work on exotics I don’t buy them. With affordable cars & SUVs if it take me longer to put it together that’s fine cause they don’t loose value like higher end vehicles
Hey lucky where would you look for good deal for your first couple cars? A lot of the tow yard auctions near me have employees drive up the prices.
I get most of mine actually off FB and Offerup
An excellent video.
Glad you enjoyed it
Hey lucky do u have a video about car sharing with get around 😊 got to start making some money using what I have to start the business
Yes I do! check out my channel
Between Sedans and Coupes. Which are more favorable for resale?
Can you do another video of a day of flipping cars but showing the whole process starting with the vehicle inspection, transportation, reconditioning, advertising, and sale process.
I have a few videos on my channel covering alot of that. also will make others soon
I often wondered why dealers in my country charge insane amounts for cars they hardly even fix. They buy used or salvage cars in the US for a small amount and by the time they land them here the prices are way past the 30k mark.
they over pay most times
Is it better to sell cars to the auction vs customers?
Thank you
thank you
I'm struggling with these flips man, some costly unexpected repair always comes up and delays the sell process
its definitely. a problem that keeps popping up. you can flip cars a little more expensive less profit but less headaches
I have my NV dealers license for my rental business, but am wanting to get into flipping cars. How does title transfer work from a private seller to my dealership? Do you fill out the title just as you would private to private? Then reassign it to the next buyer when you sell it?
if you sell at auction you have to put your dealership name on it. but you don't have to transfer if you sell to the public you have to DRS it to the customer and process everything through carson city
Thanks for all the tips. I'm wondering do you need to pay for any taxes on these cars when you're buying them?
Not when you buy. but when you sell to public or profits from auctions
I saw that Malibu on camera, if a headlight is the fix scrap it 🤣
buff out lol
The days you were selling to the public. How many cars were you buying a month ? Floor
Plan or your own money. I want to grow but idk if it’ll be smart to use all of my own money in inventory
I would grow slowly. with your own cash. I has 2 mil in flooring lines. it was 10-20k a month in fees and interest. i cloesd them. i started over with 10k to buy cars and build it slowly over the last 5 years
Is it wise to start with wholesale.? In Texas.? 30k to start
Do you have cars that have been sitting around for a long time for which you have no plan?
No the onlys ones that sit around are project cars or my personal cars. i think i have 30 of them lol
Huurrraaaayyy! TH-cam give away. You pick it up from Lucky's garage, fix it up for a flip sell, then report back the outcome. Hands on learning experience from the best himself, Mr. Lopez. Thank you in advance for the give away car...lol.@@LuckyLopez777
How can you get a dealer license without a lot? The state isn't providing much help in MD. They basically said I can't.
No. but you can get a wholesale or brokers license
Do you'll do cars like Toyota, Lexus, Honda, Acura?
Yes. just depends on models. Acura body parts are over prices. dont buy any wrecked Acura;s
I am an older woman having worked in Corporate Finance and Tax for 25 years. I am interested in the Finance jobs at the auto dealers. It sounds fun. How hard is it to get a job like that off the street. Please be brutally honest.
its easy. just talk to any BHPH dealer or Sub prime banks they are always hiring
Hi Lucky, thanks for the information. Just to clarify, you are buying vehicles off the street from your connections/network? What auctions are you selling at? Public? Dealer? Who is going to buy that Caravan in the video? Are there types of vehicles that sell at certain types of auctions that won't sell at others? Are there vehicles that don't sell? What then? Sell at a loss or part out? What are your thoughts on arbitrage in the automotive business?
Yep I buy my cars off the street and my network. I sell at a bunch of auctions. Manhime Adesa CoPart IaaI. and ACV just depends on the car and I price my cars cheap so they always. sell i dont like to sit on cars for a long time. most dealers are asking too much for there cars
Want to get into wholesale after I start flipping next year. Need some guidance
Good insight. What moves and what doesn't move. Time will tell
The sale numbers you're talking about, those are wholesale auction values you're talking about correct? So you're buying super low, and making your margin between that and auction wholesale
Yeah. dealers here in Vegas pay over wholesale for cars. which is crazy lol. but. I always like to base prices off of what you would find a similar car on FB market place
Hi lucky, I’m also in Vegas. If I needed body work/repair, would you consider being open not to the public, but to other flippers to get their vehicles out?
Unfortunately we only do our cars. not anything for the public. too much of a headache but we are looking for a new bigger spots so maybe in the future
Do you have any internships available? I’ve owned 2 dealerships, one in Washington, and one in Cali. I’m new in Vegas and trying to network
Good evening what's wrong with the black mustang ??
Nothing it ran today at auction. i think it sold
How do you estimate the repair cost in detail for labor and tools? Seems like adding a bumper and buffing the dents out of the focus for $200 is low repair cost.
the bumper is in the back seat so just putting it on 30 mins $50. to buff the side of the car $150. I have all the number in my head. but i recomned. using all data when getting started
Great question. I would have to say there is a lot to this business and more than meets the eye!!!
Of course that's what makes it so interesting
Paint it nice, lots of space.
thanks. hoping to show more of the shop in upcoming videos
This is a must have tool for checking engine condition. Research it, ATS EScan Elite, your mechanics will appreciate it.Only for engine.
What is YOUR process for handling paperwork. Possible video?
I cant show that because of privacy issues some cars are repos
Hey lucky In Vegas to you know any solid painters ?
none they are all tweakers
Booyah 👊🏽 😁 👍🏽🇺🇸
If I wanted to buy a car to flip, where is the best place to buy a car or truck?
I tell everyone to start with FB. and your local. tow yard. pawn shops ect
Good content👍why only 7k views😧
TH-cam is not pushing it for some reason lol
Is it better to go into used or wholesale as a new business?
Used sales its the best. biggest margins highest demand. if my new location would have worked out. I would be selling them to the public for even more money $$$$
Lucky, do you see Porsche 911’s prices taking a hit at some point in the near future?
they are going Up $$$$$
You literally cannot find a brand new 911 for sale anywhere in the country.
Dude, we missed the boat on that...all pre-covid 😢
Hey lucky, I currently work as a diesel tech & want to start flipping cars. would you recommend getting a job at an auto shop for a bit to enhance my skill set in that area or start flipping & learn on my own?
Yes always have income while your starting. plus when you work at a shop you will have the opportunity to buy cars that customers dont want to fix. thats how i got started
Awesome, thanks!
One man's advice: rebuild diesel engines pre-2007.
You would be surprised what you can find in junkyards that just need a rebuild.
I'm retired from 25 years of auto whilesale. Use the knowledge you have. Start buying used diesel TRUCKS with minor mechanical problems but nice as you can fine cosmeticaly and resell to the public or wholesell if you learn to be a good buyer.
ohh man I totally call dibs on the smart car. I have actually always wanted one. Which my wife thinks is stupid because I am 6'3". But lets face it. 90% of the people on the road don't need anymore car than that. Once i buy a new home here in GA, I am going to TRY to find someone willing to take me on as a apprentice. Will work for free just to learn how to flip cars safely. After I lost everything on my last deal, I realized watching TH-cam was not enough of a education. I need a mentor.
we bought another lift kit so we will have it ready soon
Where do you buy these inexpensive vehicles?
Watch my other videos. I talk about building your networks and how to find a car
So you're buying the cars at auction then flipping them back at auction? Thanks.
No. i dont buy cars at the Auction. they are so over priced its crazy. i buy off the Street and my networks then take to auction
Buying hoopties spruce it up up send it down the road there good money in service warranty. Turn & burn $$
$$$$
Question for you, did you ever get that bronco you wanted?
Nope. Building the ultimate Off road machine now
@@LuckyLopez777 when are we seeing it?
@@cuh720 if you look hard you can see it in the background of the video
Good content
thanks 😁👍
i know you will survive this mess
Where do you get your values when buying and selling vehicles?
for cars under 10k. i always use my market price. FB and Offer up. a 2005 tahoe on KBB is only $1100. but at aucton or on the street it will sell for 2800-3800
Looks like lucky is employing the greater fool theory. Who wants an old van with frame damage. Parts van.
Facts lol
What would you say is the best most reliable used car under 10k right now?
Toyota camry hyundai sonata. Chevy Tahoe
Nice
Thanks
Why don’t you have a retail lot?
Watch my videos I was looking for a spot.
Can I buy some cars directly from you or you only sell to auction?
unfortunately i only sell at auction
How are you buying most of these vehicles to wholesale so cheap?
I buy for FB offer and I have relationships with banks and title loan copmany. watch my other car flipping videos. i go into building a network
Must be profitable, I can see the stomach jiggle jiggle with some quality wagyu beef leftovers
My muffin top is defanly present
Hahaha winter hibernation is around the corner. I’ve been using that excuse since 2020
WINTER COAT...BRUH
Want to book a Consultant call.
link is in description
TRUCK'S...ESPECIALLY, FORD..4x4.& VANS F150, 250, 350
IF I CAN'T PULL AT LEAST FIVE BILLS $500.HUNDO...AIN'T WORTH MY TIME, I SPECIALIZED IN ALCOA WHEEL POLISHING AND TIRES TOO.
LUCKY, I HAVE SOME RARE SIGNAGE, FOR SHOP..LEMME KNOW...✡ SHEMA YISRAEL 🇮🇱
thanks for sharing 😁 ⭐️
You say the profits you make in a car what about the labor going into
the numbers i said included. labor
👍👍
Are you hiring, if so where can I send or drop off a resume?
Not at the moment. just 3 of us for now.
@@LuckyLopez777
Can I send you my info incase something changes? I’m local
Boom
👍
😁👍
Where do you get all these cars for 1200??
Watch a few of my car flipping videos i go over all the place i get my cars
If that X3 fender has been painted edge to edge with that shitty color, just get a used white one from the junk yard.
are you bored yet at 6th hour?
No i enjoy it lol
Always same trucks/cars in every video.......hm? inside and outsuide
I do batch shoot videos. plus alot of my personal cars for my projects.
cars depressiate rapidly its not a good industry.
any person can put their cars up for sale to mimic the job its too mich competition. patient buyers will wait and buy the gold nugget deal.
I love the car business. its actually very hard to mimic. good dealers. if they could i would have less cars to buy and sell every week
@@LuckyLopez777 barrier of entry for competitors to enter the market is very low. so it becomes difficult for each person in the industry.
sure can make some coins from it i rank it low ranking way to make money.
atleast where i live in california. its better to get monopoly money. not scavenge for deals its more of a side hobby in my opinion.
i guess some people if lucky or skilled can make buck though. im not one of the lucky ones when trying to sell my cars. always end up basically giving away the car for pennies because i dont have patience to have it take up my time.
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YOU DON'T NEED TO BE SHOCK BECAUSE I'M ALSO A HUGE BENEFICIARY OF expert MRS JANET
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First
almost #2
@@LuckyLopez777yup
Firssst
Yessss
How can I get set up to buy at auction? I have cash and the time. Thanks for these videos!! (BTW....I'm 90 minutes south of you)
Get a Dealers License in your state, Then apply with NextGear Capital.
Dealers license or wholesalers license but you will not get any deals are auction. I only sell at auction i buy off the street
True words Bro, Buying is a a hard-earned privilege and an acquired skill with time. Auctions Houses and Floor plan companies are the only ones printing money.
I just watched a video from Flying Wheels about a customer trying to scam him. Have you ever had a customer try or actually scam you out of money or a vehicle?
100s of time I have a few videls on my channel. Ill make another one soon
@@LuckyLopez777 ok I'll look for them they're probably great stories 😁