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Old 05-04-2012, 11:09 AM   #1
flip326
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buying bikes for profit

I don't remember if I've asked, but here goes....

If I buy a bike for the sole purpose of selling it for profit, do I HAVE TO get the title put in my name, register,etc just to sell the bike.

For example I found and almost purchased a 2003 600rr for $2300 on CL. I figure I can sell for $4000 obo, because it was in good condition, low miles...etc

If i bought the bike, have the title in the last owners name, would it be legal to sell the bike without transferring title and paying all those fees.
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Old 05-04-2012, 11:10 AM   #2
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You mean flipping?
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Old 05-04-2012, 11:11 AM   #3
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I k ow bikes get sold all the time that titles were never transferred, but are there any laws im braking by doing so.
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Old 05-04-2012, 11:13 AM   #4
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You mean flipping?
Lolz I suppose you would be right
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Old 05-04-2012, 11:14 AM   #5
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as long as you are making profits out of any sales, you should report and pay tax for it.......but people are not doing it
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Old 05-04-2012, 11:18 AM   #6
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You're not suppose to unless you have a dealer's license. They can hold bikes up to I think 20 or 30 days without registering it in their own/business name. People do it all the time though.
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Old 05-04-2012, 11:23 AM   #7
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Quote:
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IIf i bought the bike, have the title in the last owners name, would it be legal to sell the bike without transferring title and paying all those fees.
According to tax law, no, since a transaction occurred on a titled asset. If that wasn't the case, used dealers would make a killing selling back and forth and the state wouldn't ever make money.

Do people do this? I'm positive. Consequences of getting caught? That I don't know.
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Old 05-04-2012, 11:29 AM   #8
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i thought i had read you can flip an X number of bikes w/o a dealers license.
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Old 05-04-2012, 11:35 AM   #9
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Cool thread.
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Old 05-04-2012, 11:37 AM   #10
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According to tax law, no, since a transaction occurred on a titled asset. If that wasn't the case, used dealers would make a killing selling back and forth and the state wouldn't ever make money.

Do people do this? I'm positive. Consequences of getting caught? That I don't know.
I understand what your saying and I figured as much. there's just a few bikes I've seen that are perfect candidates for a quick profit flip...

Maybe more trouble than its worth.
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Old 05-04-2012, 11:46 AM   #11
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I understand what your saying and I figured as much. there's just a few bikes I've seen that are perfect candidates for a quick profit flip...

Maybe more trouble than its worth.
Not for the occasional, one off great deal you might find. When you start flipping 2-3 per month and you're name starts popping up on paper, it might be a different situation.

Biggest part would be making sure the right people, sign the right title/V-130, within the right time.
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Old 05-04-2012, 11:52 AM   #12
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I figure at most id buy 2 per year if i could turn a $1000+ profit per bike. CL deals like that don't really come about that often with a clear legit title
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Old 05-04-2012, 11:53 AM   #13
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I buy and sell a lot of bikes more as a hobby/serial collector.

My advice...buy it, go to the tax office and title in your name. When you sell it, unless you know the guy(or girl) keep the plates when you sell it.

At the lower price end, the taxes aren't to high, and no headaches.
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Old 05-04-2012, 12:11 PM   #14
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for me the tax burden on cheap bikes is not the issue, it is standing in the line at the tax office... figure on using up a couple of hours.
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Old 05-04-2012, 12:14 PM   #15
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Transferred bike title to my name about 2 weeks ago. Went around lunch time to the one in clear lake and it took about 15 minutes and I was out.
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Old 05-04-2012, 12:26 PM   #16
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for me the tax burden on cheap bikes is not the issue, it is standing in the line at the tax office... figure on using up a couple of hours.
because I live in league city, I do it at the LC annex. 10 mins in and out
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Old 05-04-2012, 12:26 PM   #17
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Quote:
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for me the tax burden on cheap bikes is not the issue, it is standing in the line at the tax office... figure on using up a couple of hours.
I used to use the Tax Office in Katy for Ft Bend, never more than a few minutes (less than 15). Here in Cedar Park, it's only taken about 10-15 as well.
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Old 05-04-2012, 12:31 PM   #18
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Might want to PM this guy he's a pro at fliiping them for profit Miahjera04
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Old 05-04-2012, 12:33 PM   #19
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I am not moving just to save a couple hours a year....
I have tried them all in Houston and have never hit it and spent less than two hours...shepherd, long point, preston... and I have tried when they first open... lunch time, middle morning, middle afternoon.. they are always busy out the ...
between trucks, motorcyles and trailers, I have made a bunch of trips the last few years, and always waited.
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Old 05-04-2012, 12:46 PM   #20
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I have bought just to flip. I did title it since I was going to take a little bit to get in in shape to turn a profit
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