I Flipped a $5,000 Car.

I hope you all enjoyed this video. It took me over 25 hours to make so please drop a like and subscribe if you haven't already.
When a car gets stolen, the insurance company analyzes whether the car is a total loss or not. While browsing Copart.com, I stumbled upon one of these cars. It was a 2004 Jeep Wrangler with 98,000 miles that clearly looked like it was a theft recovery. The car was listed as a non-running vehicle, so I decided to go in person and checked it out beforehand. There were a few things that immediately stood out. The ignition cylinder was absolutely shattered, the interior looked like it had seen better days and as I expected the catalytic converter was cut off.
Needless to say, although the car did not run or drive, I still decided to place a bid on it.
After going back and forth during the live auction, I ended up winning it for $5,200.
Coincidentally, my friend Vadim with Broadway Towing, which you might remember from my last flip, was at the lot as well, so he volunteered to try to start it for me for the first time.
A week or so after the Jeep arrived at the shop, the mechanic gave me a call and told me to stop at the shop to see everything that was wrong with it.
The rear right tire was going flat so I knew that I would have to address that sooner rather than later. Also before I arrived, the mechanic told me that the ignition cylinder was severely damaged so the whole steering wheel column had to be replaced. After arriving at the shop, the mechanic showed me what else he found. To start off, he mentioned that the thieves who stole the car, instead of cutting the catalytic converters they ended up cutting off the muffler. It seemed like the prior owner was a big fan of off-roading since there was a lot of dirt everywhere underneath the car. One last thing that the mechanic mentioned was the issue with the radiator.
So the new radiator was installed and the steering wheel column was replaced as mentioned earlier. The total tab for those repairs were $1,140. The shop did let me know that their welder was not going to be in town for a while so they referred me to a different shop to get that muffler welded.
As I was planning to head out to pick up the rear seat, I was fortunate enough to have my father in law reach out to me and offer to go pick up the seat for me. That saved me a ton of time. Although that ended up saving me a lot of time, I ended up placing this Jeep on the backburner and it sat in my garage while I worked on a few of my other projects.
I ended up purchasing the soft top from roughcountry.com.
Although the jeep was finally detailed, I still needed to restore the trim on the car because it was severely faded. I ended up trying out the trim cubes by lithium that Buddy DIY uses on his channel and let me tell you, I was fairly impressed.
With the trim restored, I went ahead and threw it up on Facebook Marketplace and OfferUp. While I was selling it, I decided to put some miles on it and that is when something unfortunate happened. As I was heading out onto the freeway one evening, it was a bit rainy out and I… well I spun out of control and hit a wooden sign, which caused a pretty big dent in the front right fender. To be honest, it could have been much worse because the sound of me hitting the wooden sign caused me to think that the wheel along with the axle was toast. Thank God everything turned out better than what could have been.
Through the whole process of selling it, I had 2 serious clients stop by. The first one after analyzing all the cosmetic damages offered $9,500 which I declined since I had just posted it a few days prior.
After 4-5 weeks of having no serious clients, I had a father and son make an hour and a half drive to stop by and check it out. At that point I had it listed for $10,450, but since it had been listed for sale for over a month I decided that my bottom price was going to be $9,500 after all. After giving a car a thorough inspection, they came at me with a $9,000 offer. I was straightforward with them and told them that my absolute bottom dollar is $9,500 after which they agreed. We shook hands, signed the paperwork and the deal was finally complete.
So let’s break down the numbers. The winning bid for the car was $5,200. After all the fees and repairs, the Jeep ended up costing me $8,313.73. That left me with a profit of $1,186.27. Due to unforeseen repairs like replacing the radiator and obviously me damaging the car, the actual profit was a bit lower than the projected.
I spent a total of 6.5 hours repairing along with a few hours of showing it to clients and selling it.
That brought my hourly rate to $139.56 an hour.
I got a ton more car flips coming soon. Stay tuned and I’ll see you in the next one.
My videos are not financial advice so please take it as a grain of salt. I hope you have a good laugh out of it as well. Enjoy the video and please share your feedback, like, and subscribe!
#finance #flippingcars

[@mikhaxl]

Make sure you go detail that like button. 😮‍💨

[@vladbossd8791]

Do you still own the corvette

[@kyobakes2]

It’s been so long since you posted, I thought you were out of the KZbin game. Glad to see you back! Keep ‘em coming!

[@mikhaxl]

Yessssir. Got more to come 🔥

[@lopincol]

Are you okay? More to come? It's been 8 months I'm beginning to worry

[@MikeKrumbs]

@@mikhaxl It's been 10 months. We are "patiently" waiting!

[@mr_dollar99]

Man where are your amazing videos?? We miss it a lot 💔💔

[@CoolRestorations]

Awesome video! Good to see Vadim in your video again 🙌

[@DJvip2011]

Love your video bro!!!!, Can you show us a video about buying from Copart and what we need to get started.

[@fredmorse899]

I found drugs in my auction Jeep too! I like the video and appreciate that it takes longer to make the video than it takes to fix the car.

[@Blu3_777]

Its always great when you upload

[@mikhaxl]

Ayeee happy to hear that

[@olesiagricenko6002]

Great flipping video☺️loved your transitions😍😍😍

[@Blu3_777]

Fr he cold with it

[@mikhaxl]

Thank you. Gotta add a little bit of spice

[@IneffablePanther]

I've been watching you since Amazon Flex videos came out and I now realize you have two different eye colours... that's cool... @ 12:23

[@mikhaxl]

Haha thank you! 😁

[@natalyatribunskaya6118]

He's my brother and I just recently learned that 😅

[@natalyatribunskaya6118]

My brother, a man of many talents!

[@moneymoveswithDima]

My boy has experienced drifting for the first time 😂

[@OrignalRobRobert]

Sorry to hear he passed away . 😢

[@MegaRetr]

Great flipping video

[@vadimtimofeyev2732]

Great video! Looking forward of crossing paths at copart again 😅

[@mikhaxl]

Yessir. Thank you for getting this thing started for me. 😁

[@shahs3262]

You should start making videos man

[@andrefl4641]

Love your content 🚙 Merry Christmas, as you update every four months lol

[@BCTCanadian]

Did you do anything about the leaking tire? Good job. Too bad about the damage!

[@KrisNicholsonPianist]

When will you be back?

[@Yokosprojects]

Dude you gotta learn to do your own detailing and mechanical work. Your mechanical work would’ve been under $500 in parts if you did it yourself.

[@colincurl3816]

Geez, where ya been

[@mikhaxl]

Laundering money to Siberia 🫰🏼

[@Bigger_tuff_fella]

🗣️🗣️THE GOAT RETURNS🔥🔥

[@mikhaxl]

Appreciate it!

[@s-MiLey]

Yussss new Mikhaxl viddd XDDD

[@mikhaxl]

Yesssirrrt 🤝🏼

[@BehindTheCars_]

What about the Copart Fee ?

[@Кристина-ы5и1ы]

Good job.

[@mikhaxl]

Thank you!

[@EvilDeadFan11]

Good video, keep it up!

[@kirkbanton9181]

Replacing your radiator and steering wheel are cheap. I just paid $1500 to replace my radiator here in southern California.

[@mph5896]

Bummer he could not do it himself. That is $250 in parts and a few hours worth of work for a radiator and column.

[@mikhaxl]

Sheeeesh, makes me feel like I got a deal 😂

[@MichaelCurley-il6sm]

This is my old jeep I think!!! - Mike from Oregon.

[@mikhaxl]

No way! How do you know it’s your old Jeep? 😄

[@MichaelCurley-il6sm]

@@mikhaxl I sold this exact spec in Eugene about 6yrs ago to someone in Portland.

[@thebeddoctor4273]

I'll never understand the Jeep market. $5000.00 for that is crazy to me.

[@YouTubeExpertZesan]

your content is very good😍

[@kuztrades]

I love your videos you need to upload more

[@tka1528]

6k profit is not even worth getting out of bed for, I think you need to find a new hustle

[@DriHand]

The first deal is always the best one

[@coledavis8617]

They didnt try and steal the cat. The owner most likely cut the muffler off for the sound of it. Especially if they off roaded it

[@DenKuz-hv6xm]

What are you up to ?

[@james-dt4ei]

Where do u hey your couche inventory?

[@sonnyhe2002]

what about tags, title, sells tax?

[@mikhaxl]

Trip permit and title were included in the cost. I live in Oregon so we don’t have sales tax.

[@alextribunskiy3163]

Video is 🔥

[@awsomo53]

Im surprised you didn't just detail it yourself. it's a jeep wrangler. Not much to detail.

[@МаксКуранов-б1т]

Делай больше видео о перепродаже

[@goldenguys10]

I used to be the loader in the Eugene copart

[@azizaabdow-q9f]

i miss your vids

[@urbanitesgarage3299]

bruh learn to work on your own shit that mechanic taking you to the bank the ignition and radiator could of been very cheap to do yourself , new radiator 100, go to the junkyard pull the ignition parts under 20$, muffler go to autozone throw two clamps on it 80$

[@samgreensheffield]

That was not a new muffler bro do all the work to the cars your self

[@startingtech3900]

Should have toon the first offer bro you are a huge time waster. And who drives in the rain when you invest this money into the car? You made a bunch of mistakes rook

[@MaksimLitvinenko]

Can you give any advices on how you pick the cars to bid on? I always get analysis-paralysis when I look at copart! Great video, BTW 👍

[@mikhaxl]

Thank you! I tend to stick with theft recovery vehicle just because I typically know the issues the with it. Either the ignition cylinder is broken, the cats are cut or drugs were found inside.

[@MaksimLitvinenko]

@@mikhaxl I was thinking you could have a video on "how @mikhaxl decide the car worth bidding"...

[@mikhaxl]

@@MaksimLitvinenko hmmm, interesting idea 🤔

[@oriancunningham]

So this guy that doesnt work on cars or transport them is making a flipping video. interesting.

[@Кристина-ы5и1ы]

I like it very much

[@mikhaxl]

Thank you

[@Кристина-ы5и1ы]

Аааа я не успела первоя 😢

[@mikhaxl]

В следующий раз 😉

[@snowsteward8340]

terrible way to do an intro