Anyone here turn cars?

I've been doing some research, going to auctions (drug seize/repos/etc) and such and think I can make a few bucks by buying cars and then turning them around.

Their is no limit on the # of cars I buy, but I think their is a state law against how many I sell w/o a dealer lisence. Anyone do this before? Can you shed some advice or pitfalls?

 

One thing I found out about buying cars at auctions is you don't know what you are getting, ie. no test drives is a good example of this, sure you can jump in them rev them up, put them in reverse and forward but by doing that how much can you really tell?
For example I bought a 94 chev lumina mini van, got it for $900 canadian which is right around $675 US. I drove it home, everything seemed to work fine, then bang 1000 kms later the head gasket was gone, come to find out the previous owner just dumped some of the seal all ---- in it and drove it to the auction. Did matter to me that much as I paid practically nothing for it and I fixed it myself for around $150.
But with that being said you may buy something with the same thing done to it, turn right around and sell it to someone else and then the same thing happens to them. So now you have a pissed off owner who wants their money back or the car fixed. You can get around this with putting AS IS on the receipt but if it happens too many times you'll get a bad rep and people won't buy anything from you.
But if you can get some vehicles and turn a good $1000 or more on them I would say go for it. If not it isnt' worth the headaches IMHO.

 

I turn my car all day. It doesn't pay very well though. :P

 

in florida, your allowed 3 cars per year w/o a dealers liscense.

 

in NY its like 10.... I tend to double my money on cars... like i bought a nice 92 Accord coupe for $1000 and sold it for $2000... not bad for keeping it for a month and putting nothing in it, but my current 95 accord im barely gonna break even with, so you might not make a profit on all of the cars.

 

theres some house i pass everyday, and theres a differnt car in the front every week for sale. the guy must make a ---- load of money doin this. i dont know how many cars you can sell hear in CT without a dealers liscens. but this guys got to sell well over 50 cars a year. hes got a real good location where he sells them.

 

I used to go to a local (Tacoma) auction all the time and buy $1000 ---- boxes and then sell them for a couple hundred more. Kinda fun, cause' I got to beat on them for a few weeks til the title came. In WA I believe you can sell 7cars in a rolling 12month period w/o a license.

 

I think it's 4 a year out here. I have bought and sold cars without the title ever being in my name. I just have the previous owner notarize the title and I don't sign it. I just pass the title on to the next guy after I raped it for what I wanted.
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the limit in WA is 4

yea i was pissed to. ive tured around a few cars and made $$$ i bought a 88 Lebaron coupe for $150 fixed its hed gasket and sold it for $1700

Ill only make a few hundred on the 86 lancer im driving right now.