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I went through all the red tape and got a wholesale dealer's license a few years ago. The industry is extremely competitive. I did make money, but not enough based on the amount of work I put in. There are people who must camp out on Craigslist hitting refresh on the fsbo car section all day long. I found that anything advertised under market value would sell within in hour or less.
I recently used a mobile mechanic to put struts on one of my cars. He said he makes good money buying inoperable cars and repairing them. May be a head gasket, engine swap, etc. An example he mentioned was a Chrysler Sebring convertible neeing a head gasket he bought for $500 and resold for $3500 once fixed.
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Lee
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