hi guys, question for some brokers or flippers there.
Ive got some liquid money but not nearly enough for a car deal im working. i can pickup a car for 125k and i have a buyer for 147k. what are the logistics that happen in between? what are some techniques some of you have used to move the money around? i usually work with 1 or 2 cars at a time in the 30-50k range but this is a bigger fish.
i do not have a dealers license for tax exempt purchase or the full funds to purchase the car for 125k. but i have the buyer for 147k…
Have good sources for fast money.
You’ll need Stellar credit for this.
As a part time landlord I keep LOC’s (Both HE and PG) I can write checks on open as well as very high limit (50K+) CC’s I can pull BT’s straight to bank with in case I need to make major repairs that can’t wait for insurance to make good on if for some reason I can’t swing it from my business bank accounts.
You could try to apply for a loan on the vehicle…
Next best thing I’d say is just arrange the sale between the seller and your buyer and ask for a finders fee (Obviously you won’t clear anywhere near as much profit from this but 5% isn’t out of the question)
If you’re looking to go after higher end cars and bigger fish, I think you have some things to get in order. The dealer license and tax exemption being two big ones to address first IMO.
