General restoration ignorance

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Check this video, then i got some questions...
http://www.mydream.tv/dream_category.php?dc=17e62166fc8586dfa4d1bc0e1742c08 b

So, this guy says he paid 850 for a car and now its worth 75,000... is that normal!? :tard: Do any of you guys know someone with a project that I can buy for that low an amount of money? LOL :laughing:

Also, he says he's been working on it for yearssss... does anyone know how long a restoration job actually takes? I've always been a looker, but I want to be a do-er. I think it's time. :smoke: I need someone to teach me tho. So I'm starting with that "MyDream" website.

posted by  J_Bron

Certain old cars can be worth more that a half of a million if done correctly, if I were you I would start out with a classic car that you can easily get parts for, like a nova or firebird. Remember it costs money for almost every thing you put on that car, I think what that guy ment, is he spent $75,000 on the car over the years. A restoration usually takes anywhere from a few months, to years. I know it sounds great, but you need a place to work on the car, you need tools, you need money and time, and most importantly knoledge and determination.

when I started my project I hardly knew what I was doing, but after alot of research, and repairing or replacing things carefully you pick up alot of knowledge about cars.

Right now I'm kind of restoring a 1975 pontiac catalina, its hard to find parts for, which is a pain the the ass, and I dont have a job, so with every $50 I spend I hesitate you know because thats money out of my pocket for what I need.. I'm working outside because my parents wont let me use the garage, which is another huge pain in the ass, and I'm using my dads crappy tools or I just wont have a certain tool and I'll have to ask my neighbor, another pain in the ass, and I'm only 15 so I can't just drive to go get parts so I have to rely on other people. But when I'm working on the car, I just forget about all of that crap and know that one day, I'm going to have a badass car, that I worked for.

posted by  azkid110

I thought I'd chime in and give you a few facts and ask a few follow up questions so that you can get the right answers...

No it is not normal to buy a car for $805 and turn it inot a car worth $74,000. I also agree with the statement above...I think he has $75k in it. It is easy to spend $75k on a restoration, but in most cases you will only have a car you can sale for $35k - $50k. And unless you really know the market, it is hard to pick out a car to yield the most bang for your buck.

And yes it takes a long time to do one right...the only thing that can speed up the process in money (and lots of it).... our typical restoration takes 6 months, but some have taken as long as 2 years.

Now for the questions:

Are you looking at doing this to make profit off of the car? or do you think you would enjoy the work?

You want some one to teach you...Do you want to do this as an occupation or a hobby?

I hope this helps....

posted by  corbett_auto

yes it is possible to turn around a car like that but you also have to count the amount of money you put into parts and labor to fix the car back up
so it will bring top dollar.

here is a few projects we are working on.


http://www.joesantiquecars.com/66chevelle002.jpg

http://www.joesantiquecars.com/66chevengine3.jpg

http://www.joesantiquecars.com/parts012.jpg

http://www.joesantiquecars.com/66chevellemine043.jpg

http://www.joesantiquecars.com/66chevellemine030.jpg

posted by  tinascars

I only count labor costs if I'm doing it as a business, otherwise that time is as free as if you were sitting on teh couch watching the Simpsons. And youcan make a bunch of money doing this if you buy a car cheap a few years before it appreciates in value, and work on it slowly. Of course, that's hard to predict, so it's not a sure-fire way of making money.

I had bought a BOSS 302 Mustang back in the late '80s for $100. needed work, as youcan imagine. It woudl have taken me about $20k to resore it right, and it woudl have been worth a considerable sum today, but that would have been a two decade investment, and there are better ways to make money ;)

So, you can make some money, just don't let that be your motivation for doing it.

posted by  ChrisV

Yeah, I mostly want a car that I will keep for myself, so turning a profit isn't at all the goal. I don't have a million bucks though, and I don't even know if I'll be any good at this sort of thing, so I don't want to make any kinds of financial mistakes that I'll regret.

I don't know if I need someone to teach me, I just want to do it to do it, to have a beautiful car- but I don't know where to learn otherwise.

I'm starting to think this is something that I could do though.

posted by  J_Bron

Restoring a car is not all that hard, but there are a few things things that you need.

A well stocked tool box
A good place to work (preferably indoors)
A fair amount of mechanical aptitude
And a lot of patients....


The best place to start is read, read, read and read some more. Then just jump in and get dirty. When you hit a stumbling block....ask questions or do a google search.

The main thing is do not rush it. Good luck :thumbs:

posted by  corbett_auto

Well, I must say that you've all given me a lot to think about. I'm not interested in making this a business, but of course the last thing I was interested in as a 'hobby' ended up being my main source of income for the last 12 years.

My brother in law has offered me a 1967 Ford Falcon that is years from being fully restored. And I can't stop thinking about it. The sale price is really low - he's a great guy, and enthusiastic about me jumping into a full restoration. I don't need a money pit, and I'm having a hard time separating my emotions from my wallet. I just don't want to be bragging about a 75,000 sale of a care that cost me 74,000 and took me three years of sweat.

But that video is pretty inspiring... wonder if there are any other vids out there that anyone knows of? Thanks.

posted by  J_Bron

Sorry. Still haven't figured out to create a hyperlink. Newbie alert.

Anyway, the video was cool and I thought I'd share it again.

Thanks.

posted by  J_Bron

Just remember there is market value and then there is the individual value of the vehicle.

posted by  67Coronet383

Lol, if you want to be a good doctor, that helps....

*patience.

posted by  Mathew

:banghead: Bad spelling/grammar is why I restore cars and not write novels**...Thanks for the correction.

posted by  corbett_auto

here is the almost finshed project of the 66 chevelle
http://www.tinafayscrafts.com/1966chevelle2small.jpg
http://www.tinafayscrafts.com/1966chevelle3small.jpg
http://www.tinafayscrafts.com/1966chevelle5small.jpg
http://www.tinafayscrafts.com/1966chevelle4small.jpg
http://www.tinafayscrafts.com/1966chevelle6small.jpg
http://www.tinafayscrafts.com/1966chevelle7small.jpg
http://www.tinafayscrafts.com/1966chevelle14small.jpg
http://www.tinafayscrafts.com/1966chevelle15small.jpg






http://www.cartitlesforsale.com

posted by  tinascars

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