I've been playing the flipping game for about six months now. My wife is an accountant and bugged me until I started keeping a spreadsheet on my expenses and profit. I added everything up recently and found I had spent $387 against a total income of $1310, or a profit of $923. I had sold 13 bikes, one frame, a seat, and a two forks. I still have 15 complete bikes that all need some level of work but should bring another $1,000 even if I part some to fix the others.

In the process, I also obtained and plan to keep for now all the bikes in my signature except the Tour Easy.

It's been a fun few months. I do see it becoming repetitive, however. I like the mechanical work, but the cleaning process is definitely getting old. My only real problem so far is an addiction to old Schwinns. They typically require significant work and just don't bring that much money in return. My typical "hourly rate" of return probably works out to less than $20 an hour -- and that's only true if you don't count the countless hours I spend looking for and thinking about bikes....