Hi all you clever people.
My company has retrenched me, and while looking to fill the financial gap, I was thinking of "flipping" older cars. Money is tight, so initially it will be cheapies, ie, under 35k.
I need advise however.
Would it be recommended to register a small company and do the registration of the vehicles to the company, and scrap them after a couple of months if the new owner has not transfered it to his/her name?
What risks other than vehicle theft and difficult people who do not read are there. I have thought of a couple, but maybe those in the industry knows more.
Like I said. It is just to keep afloat until I have found a proper sustainable job.
My company has retrenched me, and while looking to fill the financial gap, I was thinking of "flipping" older cars. Money is tight, so initially it will be cheapies, ie, under 35k.
I need advise however.
Would it be recommended to register a small company and do the registration of the vehicles to the company, and scrap them after a couple of months if the new owner has not transfered it to his/her name?
What risks other than vehicle theft and difficult people who do not read are there. I have thought of a couple, but maybe those in the industry knows more.
Like I said. It is just to keep afloat until I have found a proper sustainable job.
