I'll say it up front, I've probably been watching too much Fast N' Loud, and hence I have this crazy notion that I can flip cars for money. The premise is simple enough, find a cheap car that has "potential", buy it, fix it up (just enough, not too much) and resell it for more than you invested. But I'm sure there is more to it than that!
The trick comes in figuring out the market, what cars are out there that are cheap that, after a small investment, can be resold for a profit. This is where I think "Panther". I'm curious what the market is for hot rod Panthers. Whether it's prepping them for Travis' Panther Series or just for cruising, I'm thinking that a $2000 Crown Victoria, Grand Marquis, or Lincoln Town Car would make a great pilot for my new hot rod garage.
Full disclosure, I'm not all that mechanically savvy, but only insofar as I haven't spent all that much time wrenching. I've raced for several seasons and have accomplished some basic stuff on my own, which brings me to the next phase of the logistics, who's would my/your Aaron Kaufmann be? If you can do it all yourself, that's ideal. But I think I'm more of the money/design/idea guy, so I'll need to find a place that can handle the work I can't at home in my garage.
Some creative agreement with a local speed shop would probably work, either convince them to give me a significant discount on labor in exchange for guaranteed follow-on work (plus some promotion that I could probably provide through various channels) or get them to do the work gratis in exchange for a percentage of the final profits.
One car at a time, less than $5000 per vehicle invested, worst case I'm not out all that much. So what am I missing here? I have a tow vehicle (Suburban) with a hitch, so I would need a flatbed trailer and start making friends with the local auction houses, junkyards, etc. The trick will be, as it is on Discovery Channel, finding the right car. The Bronco above was a rustbucket and something like that would be out of my league.
But I feel like a used Crown Vic with the police interceptor package (there's one for sale down the street) with some minor mods (basic maintenance, wheels, suspension, wash and wax) would potentially net $1000-$2000 profit it done right.
(obviously the Car Craft project car has a Cobra engine, would have to work up to that).
I've actually done pretty well on used car flips in the past. I bought a 951 (944 Turbo) that I resold after 6 months for more than I paid, same for the 1999 Miata I bought, autocrossed for a season and resold. I would love to make a small enough profit to add a 2nd garage out behind my house and do it on a more part-time basis.
What else, any other vehicles you think would be worthwhile to consider? Anyone ever done it? Oh and if you are in the DC area and want in, let me know. "Oppo Garage" was born...