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Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work. |
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Possible to making money in spare time buying cars and selling them
I would like to find a side income where I could work at my own pace.
I am building a garage pole barn 24 x 30 and thought about buying cars that had something mechanically wrong with them, fix them in my spare time and selling them. Others have suggested I should just rpair cars but I work during the day and I am admittantly slow. I just thought It would be something I could work at my own pace. Any advice? |
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Possible to making money in spare time buying cars and selling them
I would like to find a side income where I could work at my own pace.
I am building a garage pole barn 24 x 30 and thought about buying cars that had something mechanically wrong with them, fix them in my spare time and selling them. Others have suggested I should just rpair cars but I work during the day and I am admittantly slow. I just thought It would be something I could work at my own pace. Rent out your pole barn to someone who works at a faster pace. walt |
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Possible to making money in spare time buying cars and selling them
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Possible to making money in spare time buying cars and sellingthem
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Possible to making money in spare time buying cars and selling them
"The best way to make a small fortune in the used car business is to start out
with a large fortune." Anon. Richard Coke |
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Possible to making money in spare time buying cars and selling them
Grant Erwin wrote in
: On 23 Mar 2004 05:34:15 -0800, (Don) wrote: I would like to find a side income where I could work at my own pace. I am building a garage pole barn 24 x 30 and thought about buying cars that had something mechanically wrong with them, fix them in my spare time and selling them. A couple of stories from my past regarding your idea. 1) My roommate bought a Honda 450 motorcycle basket case for $50. He put it together over one weekend, and it ran! So, he sold it for $500! 2) A few weeks later he took the $500 and bought an Impala that he figured he would sell to some lowrider. It had a little miss in the engine, but he figured it was a bad spark plug or something simple. Well, it turned out that there was a hole in one piston the size of his thumb! Bye, bye $500. -- John Snow "If I knew what I was doing, I wouldn't be here" |
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Possible to making money in spare time buying cars and selling them
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Possible to making money in spare time buying cars and selling them
Don wrote:
I would like to find a side income where I could work at my own pace. I am building a garage pole barn 24 x 30 and thought about buying cars that had something mechanically wrong with them, fix them in my spare time and selling them. Others have suggested I should just rpair cars but I work during the day and I am admittantly slow. I just thought It would be something I could work at my own pace. Any advice? Yeah! Have a good look at any regulations relating to being an auto dealer, and the liabilities thereof. Here in Alberta, Canada, if more than a certain number (not sure of number) of vehicles pass through your hands (tracked through vehicle registrations) you are considered to be a dealer, and are liable to provide at least a minimum level of warantee and other benefits to your customers. There is also mandatory membership in dealer assosciations,and mandatory training that must be dealt with, mostly relating to the afore mentioned liabilities. Cheers Trevor Jones |
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Possible to making money in spare time buying cars and selling them
You don't say how old you are, but if you are over 30, then most likely you
do not have the natural talent for buying and selling cars. I say this because if you did have this ability, you would have recognized it long ago and would not be asking these questions. If you are a competent, but slow mechanic, then you would be better off to do repair work for family and aquaintences ( but be firm about getting paid for your work.) If your work is good you will soon have all you can handle through referrals. I started at age 15 by borrowing 35.00 from my Dad to buy a 53 Mercury which I sold the next day for 75.00- this was in the day when my Dad - a machinist earned 100.00 per week. It took some begging and whining to get the 35.00, but after that first deal he never questioned me if I asked for a short term loan. I knew other guys who tried it, but they often fell victim to the tendency to fall in love with a car and not want to sell it at a reasonable profit- or spend way too much fixing it up and ending up losing money on the deal. "Don" wrote in message m... I would like to find a side income where I could work at my own pace. I am building a garage pole barn 24 x 30 and thought about buying cars that had something mechanically wrong with them, fix them in my spare time and selling them. Others have suggested I should just rpair cars but I work during the day and I am admittantly slow. I just thought It would be something I could work at my own pace. Any advice? |
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Possible to making money in spare time buying cars and selling...
Buy and repair motorcyles. They take up less room and are easier in my
opinion to fix. Older bikes are becoming popular because they are good for beginners. |
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Possible to making money in spare time buying cars and selling them
Neighbor bought a jet ski for something like $50. I went over and said
"man, looks like a dog chewed that thing!". It had. He bought grips and I think a throttle cable and repainted it himself. Maybe not something you can make money at, but certainly saved money over buying a nice, used one. Joel. phx I tried the repair scheme with bicycles. Couldn't find nice enough bikes to make any kind of money. If one needed tires there went all the profit. "Hitch" wrote in message . .. Grant Erwin wrote in : On 23 Mar 2004 05:34:15 -0800, (Don) wrote: I would like to find a side income where I could work at my own pace. I am building a garage pole barn 24 x 30 and thought about buying cars that had something mechanically wrong with them, fix them in my spare time and selling them. A couple of stories from my past regarding your idea. 1) My roommate bought a Honda 450 motorcycle basket case for $50. He put it together over one weekend, and it ran! So, he sold it for $500! 2) A few weeks later he took the $500 and bought an Impala that he figured he would sell to some lowrider. It had a little miss in the engine, but he figured it was a bad spark plug or something simple. Well, it turned out that there was a hole in one piston the size of his thumb! Bye, bye $500. -- John Snow "If I knew what I was doing, I wouldn't be here" |
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Possible to making money in spare time buying cars and selling them
Christopher Green wrote in rec.autos.tech
(Don) wrote in message om... I would like to find a side income where I could work at my own pace. I am building a garage pole barn 24 x 30 and thought about buying cars that had something mechanically wrong with them, fix them in my spare time and selling them. Others have suggested I should just rpair cars but I work during the day and I am admittantly slow. I just thought It would be something I could work at my own pace. Any advice? In many places, this would require you to take out a mechanic's or dismantler's license and a dealer's license. Your property would also have to be zoned to allow this sort of work. And beware of local junk-vehicle ordinances; a diligent inspector could have your work-in-progress confiscated. If you do this casually once in a while, it's no big deal. As soon as you start doing it regularly to make money, it's a business, and you need the appropriate permissions. What these are in any particular case will depend on where you are located. I used to work with a man who did that about 4 or 5 times a year. He specialized in some 80's ford model. He would buy a decent car for under a thousand, put another 500 to a 1,000 into it, and the sell for about 2500 to 3000. He only did it a few times a year. But in the process he built a car for him and his wife. Plus repaired a few for friends. Plus, gas station/garages will sometimes do the same thing. On a related note, in the late 60's a machinist owned a BMW motorcycle, which at the time were known to have very heavy flywheels. Smooth running, but very slow accelartion. He decided to machine a few pounds off of his, just to see what it was like. His friends liked it so well that they asked him to do it. And word got around so that he ended up doing it full time. He ended up with quite a business. -- Dick #1349 Damn it . . . Don't you dare ask God to help me. To her housekeeper, who had begun to pray aloud. ~~ Joan Crawford, actress, d. May 10, 1977 Home Page: dickcr.iwarp.com email: |
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Possible to making money in spare time buying cars and selling
dann mann wrote:
Buy and repair motorcyles. They take up less room and are easier in my opinion to fix. Older bikes are becoming popular because they are good for beginners. Toss the couch and move the TV to the kitchen where it belongs, and you can fix two at a time in the living room. |
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Possible to making money in spare time buying cars and selling them
If you are a competent, but slow
mechanic, then you would be better off to do repair work for family and aquaintences ( but be firm about getting paid for your work.) Since I used to be a professional certified auto mechanic, I used to do this on occasion to help out friends etc after I changed careers. But no more. I once helped a "friend" replace the brake pads and shoes on a Honda Accord. No hydraulic work or turning involved. The guy let me know the next day that his wife was mad at me. She drove the car to the store that evening after I worked on it. She told her husband that she almost rear-ended someone because the brakes felt different. Obviously the self adjusters for the rear shoes changed the pedal feel. If she had hit someone I could have been sued. I don't want or need those kinds of issues in my life. I haven't worked on anyone else's vehicle except my own since then. If you are a business you need to have the appropriate liability insurance. I'd be leery of buying cars, fixing them up and selling them just for this reason. You have to protect yourself these days from the lawyer types, well as much as you can anyway. Lane |
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