Thursday, March 8, 2012

How to Make Money from Home Part 4.1

Yes, you read that right. Part 4.1. This is an update on my adventure with the car auction. Most of them were in bad condition, and most of them did not have keys to start them and see if they run at all. I purchased a 1997 red single cab Ford Ranger. The interior looks like someone was living in it. No stereo. Some bumps and bruises all around and the paint is faded. I paid $750 for a truck that I'm not sure runs.

It cost $80 to have it towed to the house. The tow truck driver was the nicest guy, I had met him as a fellow bidder at the auction and we talked and made friends. When he was off-loading it in the driveway the wheel was locked because there was no key in the ignition. He has been flipping cars for 20 years so he has done this a time or two, he dug in the drivers side door pocket and the jingle of keys was music to my ears. A quick flip of the key later and it came to life! It runs, and sounds ok. It still needs a trip to the parts store to have the computer read for trouble codes but all is looking well. After cleaning the interior, putting in a cheap used stereo I find on craigslist or less than $20 and a good buffing and waxing later this baby will sell for about $2,000. Current investment- $830. Potential sales price-$2,000. Profit- $1,170. I will get the title paperwork in a week, and will sell it that weekend.

Inspired? Me too! Always be careful and err on the side of caution. And, good luck!!

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