Quote:
Originally Posted by OTB
You don't have to wait to grow up...just do what I did and do today:
I am just another working stiff. I teach at a private school and make less than public school teachers; so I'm not 'zackly rolling in money.
Ten years ago i was bikeless and all but broke. I convinced my wife to let me use $1000 of our scarce cash to find a bike, rehab it and flip it; I had to repay the household fund from that first bike sale, but the cash I made over and above I got to use as my motorcycle fund.
I found a 10+ year-old bike with low miles in excellent cosmetic (but carb sit-itus non-running) condition for my budget. I spent hours but very few dollars getting it running and pristine as possible; sold the bike in two days and doubled my cash. Payed back the bike fund and never looked back.
For those of you who say "Sure, but a grand won't get you ANYTHING now"; I say BS. I just picked up a low miles, neglected but running Buell Blast for $500, cleaned it, tuned it and put it through inspection (total cost of parts and inspection $110) and delivered it yesterday for over twice my cash layout.
I post the snazzy, unusual or fun finds that I get , ride and flip, but most of the bread and butter stuff I never post on here; It's cleaned up and resold in a day or two; I often never ride many of the bikes I sell...
And I don't bat 1000: About 1 out of 10 or so I may break even or actually lose money. Sometimes it's because of hidden mechanical issues, sometimes it's because I've misjudged the market for that particular bike; sometimes I forget and buy based on what I like rather than what is best for a quick turn (Like that snazzy Benelli; it's going to take MONTHS to move that, and I might take a bath; ...but what a COOL bike!).
I am just an average joe...if you want to do this, it's just takes time, a little patience, some research and a little bit of startup cash......
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I do the exact same thing. However, I have the inside track and score bikes @ wholesale or less. I pick up basket cases and non-runners over the winter to flip in warmer weather. You bat a little better than I do. I make money on 2/3rds of what I take in. The bikes I buy are all bikes I've wanted in the past...so even if I lost a few bucks, I still have the fun of wrenching and riding them for however long I choose.