Talk me out of this flip...

[14Accent]

Short and sweet: vehicle in question is a 2007 Chevy Equinox AWD. 3.4 V6, 167k miles. Clean(ish) body and interior, nothing some elbow grease can't handle.

Pros: recent work includes a complete brake job with front calipers, 4 new Toyo Celsius tires, coolant flush, lots of odds and ends over the past couple years.

Cons: needs head gaskets. The 3400 is one easy engine to work on, I have no doubt I could have the heads off in a couple hours. Head set, new bolts, thermostat, and overflow tank and I should be in business for $5-600 including purchase price.

A quick peek online shows a comparable vehicle asking $3-4k, maintenance history unknown. If it sold for $3,500 I'd be looking at a fairly decent return within 60-90 days.

What say the great forum minds?

 

[dishdude]

If you can get it for $1,500 or less, go for it.

 

[CharlesInCharge]

A lot of work, parts, towing, storage, risk, tying up money for 3 months, to make a couple grand - maybe?

Pass.

 

[samven]

Is the current problem so bad you can not drive it. I would hate to put money into the motor just to find after its running the tranny is toast.

 

[CharlesInCharge]

Is the current problem so bad you can not drive it. I would hate to put money into the motor just to find after its running the tranny is toast.

Excellent point. If you cannot even drive it, you don't know of the many expensive other problems it might have.

 

[14Accent]

I personally drove the thing last week, actually. It was originally brought in on a complaint of over heating and lack of cabin heat. The coolant was filthy, so before dumping a ton of money in it I suggest a good solid coolant flush including a back flush of the heater core.

After the service, it actually ran great. 165 degrees out of the vents, and the coolant temps held steady between 195 and 207. Unfortunately, the overheating took it's toll and the problem got worse.

One huge selling point with this particular unit is that it's equipped with an Aisin transmission. Basically bulletproof, and only used for a few model years.

 

[dareo]

My personal GM policy is just say no unless its a pushrod LS style V8 or a duramax engine. That being said if you can make a fully reconditioned vehicle i doubt you'll have problems selling it for a gain.

 

[The Critic]

Sounds like you would be buying it for $1k, spending another $600-$1k for repairs and then maybe making $1500-$2k to resell?

Doesn't seem like it is enough money to be worth the trouble, but $1500-$2k may mean different things to different people.

 

[atikovi]

Sounds like you would be buying it for $1k,

Not from what I gather.

Head set, new bolts, thermostat, and overflow tank and I should be in business for $5-600 including purchase price.

Looks like he can buy it for a couple hundred.

 

[The Critic]

Not from what I gather.

Looks like he can buy it for a couple hundred.

I missed that….somehow.

So $3k for a day’s worth of work, maybe 2. That actually doesn’t sound terrible.

 

[14Accent]

I missed that….somehow.

So $3k for a day’s worth of work, maybe 2. That actually doesn’t sound terrible.

Sorry, I should have made the OP more clear: I'd likely be getting the vehicle for $50 over scrap price, so $250-$350. Add in another $250 for a head set, head bolts, t-stat, and new overflow tank and I'm looking at $5-600. Another whatever amount it costs to have the heads milled and I'd be in business for $7-800. I wouldn't bother touching the valve seals, they've never been an issue on the 3400.

I do the labor myself, and I'm quite sure I can have the heads torn off in a few hours, back on in about the same. Being generous, let's say it's a $1k project. At a predicted selling price of $3k to $3,500 I would be doing fairly well for what amounts to 8ish hours of work. After splitting the profits with the finance man, that equates to somewhere in the neighborhood of $125-$155/hr.

 

[Krieg]

.

 

[walterjay]

I say if it's worth your time do it.

 

[DejaVue]

So $3k for a day’s worth of work, maybe 2. That actually doesn’t sound terrible.

If he could do it full time, it'd be $500,000 a year. Yes, doesn't sound terrible.

In today's market, maybe OP could buy it and flip it five minutes later not doing anything to it and make $500.

 

[atikovi]

It doesn't happen that way, otherwise everybody would be doing it.

 

[skyactiv]

If your gonna do it, get it ready for sale when people are getting their tax refunds.