Making Money Flipping Motorcycles
Flipping motorcycles is no different than flipping houses or any other thing really. You’re going to buy something that you want to inject with your time, money, and know-how with the expectation that will sell it for more than what you have invested. So how much can you expect to profit from such an endeavors? Well, there are too many variables for me to say anything definite, but what I can share with you is my experience.
Flipping motorcycles has many of variables that must add up to play in your favor. Purchase price, market value, market demand, investment costs, time, effort, and marketing. If you can control most of the variables, then you have a good chance of being able to control the outcome.
Personally, I try to at least double my financial investment but usually I am able to triple my investment. Of course, a lot of the profit depends on how you value your time. For me, this is just a side gig so my time I figure as free since I do it in my "free" time. Since this is just a secondary source of income for me, I really need to make sure my investment and most of all my time investment is going to pay off before I decide to take on the project.
Most of the project rides I purchase are less than $700. I’ll usually put in a couple hundred dollars worth of parts and a good bit of my time and then sell them for more than $1800. As a rule I try to profit at least $1000 per flip and I’ll try to have the flip done in less than a month. Having this goal helps me filter the projects I take on. I’ve made upwards of $4000 on a single flip and as little as $200. It will vary but generally, $1000 to $1500 per flip is what I’ll profit.
Along with the financial profit, I am also able to grow my tool inventory. If I need a tool for a specific project. I’ll charge the cost of that tool to the project. As you grow your tools needed to make these jobs easier, you’ll become more proficient and should start to realize higher profit margins per flip.
Beyond the financial profit, the skills and knowledge that you will attain along the way is also valuable. The more you know, the better decisions you can make and the more money you can make in future endeavors.
I enjoy wrenching and tearing into engines. For me it is therapeutic. So for that reason, I feel like I am getting paid for something I really enjoy doing. Being able to take something that was broken and ugly and turn it into something people want to pay me for is exciting. That's why this side gig works for me. If you like wrenching and have some time, money and energy then give it a go!