The Car Flip Show

I was recently asked about whether or not now was a good time to buy given the current economic climate. The coronavirus has obviously affected the market, but I still feel optimistic about flipping. Even during a pandemic. I share my thoughts on why in the podcast.

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► The Car Flip Website: https://thecarflip.com

Negotiating is an extremely important part of life. We negotiate in real time all the time whether it has to do with coexisting with our fellow man, buying a house, or disagreeing and agreeing with your husband or wife. When it comes to vehicle pricing as a buyer or seller, there is typically room for negotiation, but all too often we look negatively at the process and have a mentality that dictates that the goal of negotiating is "I win, they lose."  That couldn't be further from the truth. Negotiating is simply adjusting initial or preconceived terms so as to satisfy all parties involved.  In car flipping, negotiating can and should still be win-win. Now, in today's episode, we're going to get into a few different methods of negotiating as well as my preferred method.

We're then going to talk briefly about mentorship and how that can play a major role in your car flipping journey. For myself, I grew up in car flipping and learned from watching my dad. If you have opportunities to learn from someone, do it. If you do not know anyone personally, or you are unwilling to seek and meet such people, there are resources online, and plenty of video content to help you out. If those aren't enough, that is why I created The Car Flip Course. The Course is currently closed as of the release of this Episode, but we will be open for enrollment in less than 2 weeks and hope to see you on the inside!

The Car Flip Course has all the content you will need to get in the game, learn my process, including how to properly negotiate deals so that you have room to profit, and much much more. The course can be broken up into a few categories--in-depth content, knowledgeable community, experienced coaching, & easy-to-learn templates--all curated to help members maximize profits.

The link to this Episode and Show Notes and Video Replay here.

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► Show Notes:

► Negotiating (0:38)

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► The Car Flip Facebook Group: https://facebook.com/groups/thecarflip

On today's episode, I'm going to be talking about three people that you need to know when flipping cars--a mechanic, a paint/body guy, and an upholstery guy. I cannot stress enough the importance of finding these handymen. As you learn the process of establishing value and calculating your estimated profit margin, you'll also want to start considering how much of your own time you want to invest in flips dealing with problems, whether mechanical, aesthetics, or interior. It will obviously benefit you to know these tradesmen if you are not able to do the particular work yourself. The situation becomes win-win if you can strike up a partnership with these guys as your goto for service. They can sometimes cut you deals as you continue to bring them business. As I've mentioned a time or two in some of my Youtube videos, you do need to be careful when selecting these partners as well.

► Show Notes:

► Diagnosing codes, and the importance of having a good mechanic (2:02)

► Seat Sewing Video #1: https://youtu.be/WmSoXgwiin4

► Car Flip Tips Playlist:

The link to this Episode and Show Notes and Video Replay here.

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► Helpful products mentioned in this podcast:

*** Autel MaxiDiag Elite OBD-II Scanner ***

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► The Car Flip Facebook Group: https://facebook.com/groups/thecarflip

This podcast and description contain affiliate links, which means that if you click on one of the product links and buy one yourself, I’ll receive a small commission at no extra cost to you. This helps support the channel and allows us to continue to make content like this.

Car flipping can be a very profitable business but you would be surprised by how different the profit margins can be from person to person. I personally stand to make $2,000, on average, consistently, per flip. Part of that bears repeating. That is an average. There are instances where I will only profit $700, and other times where I have made $4,000. The question then becomes, how do I maximize my profit? That question was actually answered in a previous episode.

However, in today's podcast, I want to encourage those listeners that are newer to car flipping to just get in the game. If you've been following The Car Flip for any length of time, you should be learning what you need to know to buy things in such a way that you should make at least something. Maybe you only make $700 or $1,000. That is still better than not making anything at all, or letting the fears and risks cripple you from taking action at all.

Stay tuned also as The Car Flip Course will be opening up for enrollment in the coming weeks. You're the first to know here on The Car Flip Show podcast, but the course will be relaunching and the content will prove especially useful for establishing vehicle value, buying right, and making a profit. Like any craft, you will get better the more you do it, but The Car Flip Course is designed to teach a proven process to maximized profits and success.

Near the end of the episode, I want to talk about one quick tool, or tip, that has saved me money time and time again. Wet-sanding is a great way to remedy some very visible imperfections in a vehicle and restore some of the lusters to a vehicle's paint.

I hope this episode will encourage you to get into this fun and exciting niche with the right expectations.

The link to this Episode and Show Notes and Video Replay here.

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► The Car Flip Facebook Group: https://facebook.com/groups/thecarflip

What does it take to start, own, and operate a car dealership? Today I'd like to touch on just the cost portion of that question. I'm going to disclose all the numbers behind my dealership. Understand that there are areas where you may be able to save money or spend more. There is some variation in those decisions, but hopefully, you can glean some helpful insight into that consideration before you begin your dealership journey.

I'm actually going to open this week's episode by telling you a crazy story about an ever-important dealership mistake that I made. This will also tie into my go-to resource for car parts. An invaluable resource to a dealer or mechanic is car-part.com. This website will allow you to select all the specs of your particular vehicle, and then search for specific parts. The website pulls from the database of surrounding salvage yards and related places to help you find out if the part you need is nearby.  You can search within a certain distance from your ZIP code, and then you can sort by price, or by distance.  One benefit for dealers such as myself is that these places sometimes deliver, AND you can sometimes even negotiate those prices.

The link to this Episode and Show Notes and Video Replay here.

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► The Car Flip Facebook Group: https://facebook.com/groups/thecarflip

On today's podcast, I'll briefly cover one tool in my toolbag that my mechanic and I cannot go without--the Yifeng XML T-6. I'll also be spending a considerable about of time talking about whether you should consider trade-ins for your cars/flips. The short answer to that question is yes, you should, and in today's podcast, I'll go over a few stories from my own experience to help you understand the value of it. There are a few key questions to ask when it comes to the trade-in, but there is also a great deal of potential profit to be made if done right (and if you're lucky!)

The link to this Episode and Show Notes and Video Replay here.

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► The Car Flip Facebook Group: https://facebook.com/groups/thecarflip

Today's podcast serves as more of a monologue. We'll first take a look at a tool in my tool bag that has been so helpful in diagnosing problems and just keeping me going, pun-intended.

In response to a user question, I want to outline my own car-flipping journey--how long I have been flipping cars, my experience starting and working at a dealership with my dad, why I moved to where I'm at. Car-flipping has always been in my blood. It started with my father, and by watching him as I grew up, I learned the skill myself. I spent a while working for and with my dad at our dealership in Shelby, NC. Eventually, I made the decision to move away and blaze my own trail. I moved my family a few hours away to Raleigh, NC, and from there, I began flipping cars since it was my skill. Eventually, all of the pieces started to come together to upgrade from flipping cars in my driveway to establishing a used car dealership.

We're also going to talk a little bit about the dealership route to car-flipping-- the overhead, and the growth potential and scaling. I'll also touch on how I met and hired my current mechanic.

The link to this Episode and Show Notes and Video Replay here.

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► The Car Flip Facebook Group: https://facebook.com/groups/thecarflip

The term 'carpet dye' could be a little misleading, so we'll talk about the various products for restoring color to carpets, thus making for a more appealing flip. We will cover my carpet cleaning process with you, but I want to mention carpet dye because it has helped me to save plenty of stained flooring. It is my goto last resort carpet restoring resource. We're also going to talk about how much we should be investing into a flip, and at what point we may be forced to cut our losses and move on to the next. This topic will also help us to understand the importance of buying right. To be honest, the majority of today's conversation will focus on buying in such a way as to maximize profits and avoid the profit-eating mistakes that can turn flips upside-down.

The link to this Episode and Show Notes and Video Replay here.

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► The Car Flip Facebook Group: https://facebook.com/groups/thecarflip

One question I receive often is "How do I know what's a good deal?" It can be tricky sometimes to see so many cars and so many different prices all over the market. In this episode, we'll discuss some basics to establishing value so we can better spot a deal when we see one. I'll also be briefly going over the Autel MaxiDiag Elite OBD-II Scanner and why it is my scanner of choice. There are cheaper scanners out there, and there are certainly some more expensive ones on the market, but the MaxiDiag gives the most bang for the buck in diagnostics for anyone from the part-time flipper to the established dealer. Finally, we'll conclude today's episode with a story about how I managed to flip, and profit, from a '73 Beetle that had caught on fire.

The link to this Episode and Show Notes and Video Replay here.

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► The Car Flip Facebook Group: https://facebook.com/groups/thecarflip

Welcome to The Car Flip Show, a podcast dedicated to teaching the ins and outs of buying and selling cars for profit. My name is Justin Carper, and I run a small, used car dealership in Raleigh, North Carolina. I've grown up in this business, learning the trade from my dad, and continuing to make my own living from this passion-turned-business.

In this episode, I want to talk just a bit about my background, my business, and The Car Flip itself.

Through this podcast, I hope to teach you the keys to profitable car dealings that can supplement your income, and ultimately, possibly even help you to acquire a dealer's license and take your car flip journey to the next level!

The link to this Episode and Show Notes and Video Replay here.

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► The Car Flip Facebook Group: https://facebook.com/groups/thecarflip