• Hello there guest and Welcome to The #1 Classic Mustang forum!
    To gain full access you must Register. Registration is free and it takes only a few moments to complete.
    Already a member? Login here then!

Yet another what it's worth and a favor to ask.

guruatbol

guruatbol

Always on vacation!
OK I have an opportunity to buy a rust free stripped 69 sportroof.

It is mostly disassembled right now. New floor pans and no rust. He has most of the parts including a 351w and toploader which are in good shape.

It needs paint, interior recovered, some of the interior pieces like sail panels and probably trap door and lights. The fold down seat and front seats are there. He has a new dash pad.

It was an auto car so it needs a pedal assembly. The wiring is out of it. I'm sure it needs everything on the inside to be reconditioned or replaced.

The body is straight and he says his resto shop closed and this is one of the unfinished projects. He says they are done with body work. It has a mach hood.

What's it worth?

Mel

Sent from my XT1030 using Tapatalk
 
I'd not want to spend more than $4-5k. The desirable 69's are Mach 1's (no differentiation between them and sportsroofs except with a Marti Report). Even if the drivetrain doesn't require work, think of all the paint and interior pieces you'll need to complete the job. You can be underwater in a heartbeat.
 
Mel:
Ask your self these questions:

Is this a long term hold or a flip?
What do you want the car to be when you are done?
What does a comparable car that is already done sell for today?
How much money (parts and labor) will it take to get this car to that point?
What is your time window for this project?

Do the math and make your decision.
Some people will tell you that your profit comes at the time you purchase the car. In my estimation, rarely does a total make over turn a profit unless you hold the car long enough for the market to rise to the level where you are no longer upside down.

Good luck
 
I did a bunch of math. I allowed $1000 for misc. Should I allow more?

I would need to get this car for a max of $9500 to keep from being up side down. That's if I can get it shot for $5000. I think I can as long as the body work is where he claims it is. Could go as high as 8-10 k.

I know this is at least an 18 month project maybe longer.

This would also leave it a 4spd. Amber wants a 5 or 6 SPD.

I am lucky to. Have a gear head wife.

The 351w in it has unknown internals. It doesn't worry me but I know I'm going to want to stroke it. More money!

So, I really have to buy it right.

Is there anyone near Reno willing to look at it for me?

Mel
 
Why be concerned about the money? You're not thinking of getting it for a flip. If you like it, want it and can afford the time and have the ability to do the work...go for it. Hobbies are not supposed to be cost neutral. You pay for the enjoyment.

NOBODY does a proper restoration or restomod and makes money unless they are VERY skilled producing top level craftsmanship and do EVERYTHING themselves. It's just not really feasible. Look at the cars on our site. We have guys doing low budget stuff to have cool drivers. We got guys on the other end spending tens of thousands of dollars to have pro shops build their rides. And we have still others at various cost and quality levels in between. It's not about the coin. If you're really that budget restrained you likely need to find another hobby. At least that's my view. A guy who's got six years and a shit ton of money tied up in a car that he has never driven. And I wouldn't change a thing except for maybe being done before now!

Mel, if you want the car buy it. Build it and enjoy the journey.
 
If you don't buy it Mel, pass the info on because it sounds like a perfect fit for my next build!
 
How many times have we heard sellers claim "body is ready for paint" only for the buyer to discover massive cover up and shoddy work that requires extensive repairs. If you're buying it to keep you WILL be upside down in it.
 
Here's a 69 for sale by me.
`1969 mustang mach 1 project

http://wausau.craigslist.org/cto/5730818025.html

1969 mach 1 project car.351 windsor 2 barrel,automatic, motor runs,moves,NO BRAKES.power disc brakes,power steering,pump missing.car was being worked on by hobbyist before his passing 3 years ago.has new quarter panels,frame rails,torque boxes,these ...

Sent from my XT1058 using Tapatalk
 
He wouldn't budge more than $500 and he said he had other people coming to look at it. I passed.

I'm really no looking to get a box car.

You know, a car that comes in boxes.

Mel
 
When my Mach body was ready to come home from having all the sheet metal repairs done, my ex and I had just separated. I had sunk a LOT of money into the repairs and my ex knew it. When it came time to divide up the assets, she asserted that the Mach was worth what I had invested (which was nothing more than a perfect, primered shell) and that she would keep the same amount in our personal assets. I told the resto shop owner and he countered that the Mach in its current state was only worth about 10% of the invested amount because of its condition (totally disassembled). Only after it is finished and completely assembled would it be worth the amount invested. Turns out, with a signed affidavit from an expert you can win in court ;-D
 
Horseplay said:
I only wish this would be true in the case of my car! Not sure if that ever is the case. Good for you though!
Click to expand...
Of course I've not finished restoring the Mach yet so I may find out that the appraised value is not the same as the invested value. My point was that when a classic car is totally disassembled, its salable value is not congruent with the invested value. A point the seller may not wish to acknowledge. There are fewer and fewer men who are able and willing to take someone else's project and finish it and pay for the priviledge to do so.
 
RapidRabbit said:
Here's a 69 for sale by me.
`1969 mustang mach 1 project

http://wausau.craigslist.org/cto/5730818025.html

1969 mach 1 project car.351 windsor 2 barrel,automatic, motor runs,moves,NO BRAKES.power disc brakes,power steering,pump missing.car was being worked on by hobbyist before his passing 3 years ago.has new quarter panels,frame rails,torque boxes,these ...

Sent from my XT1058 using Tapatalk
Click to expand...
NICE rear bumper fit !!
 
You must log in or register to reply here.
Back
Top