Flipping/Selling Cars for Down Payment

[Darrell D.]

We've come into a bit of a plateau.  We've purchased a duplex and our home within the last two years.  However we've been unable to make further investments due to limited finances.  While our finances have been limited, I've examined other ways of earning income...  

In the BRRR method, we are encouraged to refinance. So that got me thinking about other ways use my assets. To make a long story short, we decided to sell our cars in order to save money for a real estate investment. Today I sold my car for $6500 and I hope to sell my truck for $7000 in the coming weeks.

To further this, we bought a fixer-upper car.  The plan is drive it for about 6 months, fix it, and sell it for $1500 more.  This by itself is a small gain, but the total plan will increase my savings by $14500.  

My wife and I enjoy shopping online for almost everything.  We're also willing to travel out of state and get a little crazy with our purchases but it's all part of the fun.  As our savings continues to grow, we feel our real estate dreams come closer.

So, if money is too tight for real estate, consider doing the same with cars.  Of course it's best if you're able to repair and clean the cars yourself, just like real estate.  As professionals we generally want to advance ourselves while keeping our hands clean, but I've enjoyed getting a little dirty while getting under my cars.  

You can do it!