Good project truck to flip?

Hi everyone! Just wanted some thoughts about possibly buying this 2007 Tundra SR5 4x4 300k as a project. Do you think people would in the market for one at 300k fixed up nicely? 4wd will not engage, needs windshield, dent and scratch repair, ABS code, front bumper is needs some straightening and a good cleaning. It drove really well going down the road transmission shifted smooth. Engine sounds good with a low idle sometimes. The owner is currently asking $6500 but I’m thinking I’d feel comfortable at $4000 cash? I’m hesitant of what other things it may need and just seeing what you guys/gals think. Thank you!

 

300k in perfect shape including paint I’d give $5k but that’s just me

 

I would have a trusty mechanic look at the transmission and overall mechanical stuff. How does the frame look? Like you, depending on other findings, I would say $4k to 4500 or so.

 

Ridden hard and put away wet. You’re better off purchasing something that won’t require so much work as it’s considerably less likely to bite you in the ass.

 

It also needs all new front bushings as well

 

It really comes down to your budget and cost feasibility.

 

In the end I want to be able to make money on it. Just not sure what someone would pay in good shape. That one guy said 5k in good shape but idk lol. KBB says about 8k in good shape private party and about 4K trade in

 

You’ll be gambling a whole lot of $$$ trying to make Pennies

300,000 mile tundras don’t go for as much as people think,unless they’re in showroom condition.

 

So you buy the truck at 4k, put in a decent amount of work and money. And if you got top dollar per KBB, you are only doubling your investment prior to accounting for the time, effort, money you put in. If you are mechanically inclined and can do the work and don't mind the time commitment. Maybe, but then you are going to try and sell, and the market is supposed to cool off as the year goes on so that 8k is going to drop (per the estimates) and you then still have to find someone who isn't going to look at KBB and try to haggle you down.

Does not seem like a winning option.

 

Any service records with the truck. To really get it in shape it's going to take a lot of work and cash no matter how you do it. I'd pass, doesn't seem like there will be enough profit in it to make it worthwhile

 

If you're trying to do a side hustle, I would probably pick it up at the lowest possible cost to you, denoting damage and work that needs to be done. Bring it up to snuff and use it as your previous work example with before and after images to get side hustles. May be an investment for other purposes... off-road rescue truck since it's already beat-up, I see a lot of rescue Tundras in my neck of the woods decked out with winches, fuel, water and other bits in the bed and rails.

 

As others said too much work and parts to be profitable. If you want a side hustle keep looking. I suggest flipping used shop tools and equipment.The 4 grand you could be giving for the truck would get you a good starting inventory. Be patient and buy right for success.

 

I dont know enough about shop tools or I would look into doing that. I do have a 2007 Limited CrewMax 173k 2wd that I drive everyday. I got it from a doctor in town that was told it needed a new transmission. I ran the codes and all it needed was a solenoid. Got it from him for 7k and had the solenoid put in and now it runs perfect for over 20k miles. I could sell that make some money and buy this one to fix up and drive around. I dont drive a ton and work from home for a doctors office. Idk just throwing out ideas. Hard to make extra cash right now. Everything is so dang expensive.

 

doesnt seem like there will be enough left on the bone after everything on this one

Gas is expensive everywhere, i would try to find a small 4 banger to fix n flip fast.

 

I don't think anyone wants to buy a 300k truck that someone else has just "fixed up"
Most will conclude that you bought the 300k truck, started fixing it, found issues with it, and now are trying to dump it. If you were the one who put all the miles on, it would be very different, because a buyer can ask you about those miles. The next buyer is going to look at --- 300k -- damage-- 300k- damage-- 300k and want to chew you down to $4k just like you're trying to do with this seller. Nothing you put into that truck will equate to profits.

 

So I'll share a similar experience I just went through to support my advice to pass on this one:

I bought a 1998 4runner 4WD Limited with the factory rear diff locker about 18 months ago. It had 212k miles, a ratty interior, 4wd wouldn't engage, needed an allignment and new tires, and the valve covers were leaking badly. I had recently purchased a 2003 Tacoma 4WD, about 18 months before that, and had just finished rebuilding that truck. This made me feel confident I could get this 4runner squared away easily and cheaply enough to leave myself a nice profit margin.

I thought the 4runner (which I bought for $7k) wouldn't be hard to make money on, as clean examples in good working order were going for $12-15k at that time (height of COVID used car madness). Fast forward to now, and the 4runner has been like an onion, where every layer I pull back I've discovered more things needing repaired or replaced. I'm about $13.5k into it, and haven't fixed up the interior (aside from deep cleaning and seat covers).

I'll be lucky to sell this thing for $10k. $8-9k is probably more realistic and I'm going to lose close to $5k or more. Learning lesson for me. I'd steer clear of flipping high mileage vehicles if I were you. If you intend to use the truck, then maybe getting it for $4k won't be totally stupid, but I'd get a compression check and run a scan tool looking for pending codes just in case if you decide to go that route.

PS: if that story leaves you lusting for a '98 4runner, let me know lol.

 

Thank you guys so much I really appreciate the advice. I forgot to mention I did run a scan and no codes came up but after reading all of this I believe I will pass. Thanks again guys for helping me with this.