Cost of flipping (a car!)

2 Replies

This is kind of weird. I usually flip houses, but with working from home available from my regular job, I'd love to try out working from a vehicle. Say I buy a bus or a van listed at $30k and sell it 1 year later for $31k (all numbers out of...umm...air), rehab it for $2k, I'm wondering how much it would cost me end-to-end in Texas. I'm being a bit lazy here but any ideas folks? am I missing anything...


One-time costs:

Purchase: -$30,000

Depreciation: -$1,200 

Title, tag, registration fees: -$180 (35, 55, 90)

Sales tax, etc (buying): -$2,000 (6.25% in TX)

Broker fees: $400 (?) 

Selling: $32,000

Holding costs:

Depreciation: -$1,200 (1 year)

Maintanance: -$2,000 (1 year)

Insurance: -$6000 (1 year)


Total:

Net cost of ownership: $10,980 + gas

@Milind Shastri okay - I'll play the game... Do you intend to occupy the vehicle or just use it as an office? Just a couple of notes: I own a 2006 $30,000 motorhome and my insurance is only $400/yr - you put $6000! If you are using it to live and work then it will need to be parked somewhere with access to electricity, water, and sewer dump (at least some of the time). Around here a true RV spot is $500-$600 per month. But we have all those facilities at our home and you might find someone else with a similar setup where you could park cheaper. If you aren't going to live in there you'll still need some potty facilities, a wifi hotspot, a generator to run air conditioning, etc. Your biggest problem might be finding a decent unit that will suffice. The pandemic created a huge demand and they are expensive and in short supply. 

@Teri Feeney Styers haha thanks for indulging in this :D. 

Excellent catch on the insurance, wifi and generator costs. I intend to use it in the same city as I work in most of the time and with plenty of Starbuxs' around so potty should be taken care of with some additional coffee costs :) 

I'm seeing some reasonable prices for vans and with working from home available, I can't help but explore this possibility.