"Alexander LaRocca" (alexjlarocca)
05/20/2015 at 23:50 • Filed to: None
59
99|
"Alexander LaRocca" (alexjlarocca)
05/20/2015 at 23:50 • Filed to: None | 59
| 99 |
Hello! Welcome to off-brand Art of the Flip, where I respond to those couple sentences at the end of every one of !!!error: Indecipherable SUB-paragraph formatting!!! ’s flip articles that read, “Do you have a car flipping or restoration story? We’d love to hear it!” Well, get ready to hear it.
Part 1: The answer is always...
...Miata. If you’re just now learning this, welcome to the internet. Fast forward 3 months since I sold my !!!error: Indecipherable SUB-paragraph formatting!!! , and I’m getting a little desperate for wheels. It turns out cheap Subarus in metro Detroit are rusty, and I’m about to give up and buy something sensible when I get a text from the seller of this spiffy NA:
Photo is from the seller’s Craigslist ad.
That’s right, he texts me. I had contacted him a few weeks earlier, but decided the car was overpriced for its condition. Well now he’s asking if I’m still in the market for a Miata, because he has to pay a mechanic bill on his other car...all of which translates to “I will take a serious chunk off my asking price.” He was asking $4800, we settled on $4000 and he threw in some maaaaad tri-spoke rims wrapped in dry rotted all seasons (I sold those to the owner of a #stancenation Civic) along with the original steelies (priceless).
Part 2: Problems and Solutions
The previous owner was meticulous with keeping the car clean, but had a bad habit of “fixing” things with duct tape. The little wiper wind deflector was neatly wrapped in the stuff along with a sizable tear in the driver’s seat bolster.
The wind deflector was a quick fix:
Underneath the duct tape was some mild rust.
A quick sanding, a couple coats of whatever black paint I had already and we’re good to go!
I’m pretty sure a roll of black duct tape is more expensive than a can of black paint, so I’m not sure what the thought process was here. I recommend sprucing up the wiper arms if your car’s aging and/or you’re prepping it for sale, it might just be the easiest and cheapest job you can do on a car and helps the look more than you might think!
The driver’s window was missing the crank handle:
The seller had it in the glove box, and I figured some small broken plastic clip would need replacing. Upon forcing the window up, I was greeted by this little fellow...
After removing the plastic vapor barrier and carefully placing it sticky side up so it wouldn’t make a mess (it fell and it did) I follow the bicycle brake cable into the door and see that it is all sorts of tangled in the window regulator. I followed this !!!error: Indecipherable SUB-paragraph formatting!!! to get the regulator out and replace it.
If you’re new to wrenching or thinking about starting, it usually looks like this for us amatuers...tutorials and more tutorials. Thank goodness to those guys on the forums.
Quick tip: Be sure to grease the tracks of the other guide rail for the window, along with the new track in the regulator. I used white lithium grease, liberally...you don’t want to have to open that door back up if you don’t have to.
Part 3: Rivets, sandwich bags, and patience...
I bought a car without a rear window. There was a large hole in my automobile, and this was my only car...and it rains sometimes, so gotta fix that. Garage time is a precious gift in my household, and so I needed to replace this window in a timely manner. This NA had other plans for me.
I had replaced the window in my first Miata, so I figured this would be a quick fix. I removed the window and zipper and brought it to the local auto interior shop where the guys there said they couldn’t sew a new window in. There just wasn’t enough material left (this top had been through a few windows) and they offered to buy and install a top for $1000. Ouch.
I did some research and found the materials to be $500, so $500 for labor makes sense. I still couldn’t afford it. Realizing I had to do an entire convertible top was a tough pill to swallow. But I wanted to do the job right, so I didn’t settle for a cheap top and bought the factory style top. I could spend a lot of time writing tips and tricks for this job, but that’s been done. I followed !!!error: Indecipherable SUB-paragraph formatting!!! and this !!!error: Indecipherable SUB-paragraph formatting!!! .
Here’s a series of photos from the project:
The back window and gutter system is out.
The top is loose and the frame comes off the car.
New top is attatched by two points and bolted back into car.
Gluing the front portion.
The best advice I can give to someone tackling a convertible top project like this is to take it slow. Methodically remove all the pieces and put everything in plastic bags and LABEL THEM. If you remove all the rivets and fasteners in a fast and random fashion, you’ll likely have much more trouble when you go to put it back together. You’re going to wrestle with this thing to stretch that new top over the frame, so be sure to take a break when it becomes too frustrating. Walk away and come back later, it helps! Oh and what’s not included with the new top are the friends you’ll need to help you persuade this stubborn piece of material over that frame.
Part 4: Believe the hype!
The NA Mazda Maita is the only car I’ve owned two of, which I suppose is not saying much as I’ve only been driving for 3 years...but still! There’s a reason these things are so popular, they strike just the right balance (50/50 to be exact) of fun to drive, economical, and reliable. They attract the right kind of attention, and this particular example had some extremely grippy Dunlops that made curvy roads a real delight. Oh and don’t get me started on the !!!error: Indecipherable SUB-paragraph formatting!!! greatness that are those headlights.
Now this roadster was no show queen, it had its share of dings and scrapes. But with the Kosei racing rims and Dunlops, it attracted an enthusiast my age who was looking to get into autocross. He was very impressed with the lack of rust, and after about a half hour of stubborn friendly negotiation I sold the car to him with the condition that he brings it by after he turbos it.
Here are some photos I posted:
Here’s a breakdown of my costs:
1996 Mazda Miata............................................. -$4000
Registration/Taxes........................................................... -$300
Robbins Convertible Top.................................................. -$497.90
Manual Window Regulator............................................. -$104
Loctite Spray Adhesive...................................................... -$11.63
White Lithium Grease....................................................... -2.49
Misc. Nuts/Bolts................................................................ -$0.86
Three Spoke Rims/Tires.................................................... $140
Total Spent: $4916.88
Sold For: $5400
Profit/Loss: $623.12
I’ve been lucky enough to drive some very cool cars and never pay depreciation, and this Miata luckily didn’t turn out to be the first exception!
* Special thanks to my dad for letting me use his tools/garage/help and my brothers for helping me wrestle that top. Thanks to Tavarish for the inspiration, too!*
Matvei
> Alexander LaRocca
05/21/2015 at 02:16 |
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Time for a track day bro.
Stapleface-Now Hyphenated!
> Alexander LaRocca
05/21/2015 at 07:27 |
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That poor Miata. It will never be Turbo’d. And it will probably be for sale in 6 months with a blown engine.
LongbowMkII
> Alexander LaRocca
05/21/2015 at 07:47 |
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Well done, how many miles were on it? Or are prices going up on NA's?
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Alexander LaRocca
> LongbowMkII
05/21/2015 at 07:56 |
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72000 miles, and I’d say prices are going up a little. But I did sell it in convertible season so that may have gave me a boost.
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LongbowMkII
> Alexander LaRocca
05/21/2015 at 08:12 |
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Low miles still, good. When the 150k mile NA's are going for 4-5k then I'll start worrying about prices.
Needmoargarage
> Alexander LaRocca
05/21/2015 at 08:52 |
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Holy crap...I had no idea people would pay this much for a Miata in the Detroit Metro area! I bought a ‘96 w/ 102k miles for $2300 and a ‘92 w/ 93k miles for $1700. Maybe I should cash out...
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Alexander LaRocca
> Needmoargarage
05/21/2015 at 10:46 |
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If you cash out, I hope it’s to consolidate into one awesome Miata. (Or split into 4??)
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Needmoargarage
> Alexander LaRocca
05/21/2015 at 10:52 |
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One of them is transforming into a track-only car. I bought both of them with the intention of flipping them, but like them too much. It’s a problem...
Sethism
> Alexander LaRocca
05/21/2015 at 17:46 |
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Let me tell you about the time I bought a MGB for $1500, put $700 into it, sold it for $3k, then bought it back 2 years later in worse shape with the same oil I left in it...for $4k.
That’s a flip, my friend.
cybersamurai
> Alexander LaRocca
05/21/2015 at 17:47 |
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Well time is money. I’m not sure you made any profit if you figure that in.
heeltoehero
> Alexander LaRocca
05/21/2015 at 17:48 |
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Did you do a paint repair? I don’t see a single swirl on the car.
CaptainBoss
> Alexander LaRocca
05/21/2015 at 17:54 |
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Had one of these that I bought and resold (didn’t do anything to it so I don’t think that it counts as a flip, but it still netted a $100 profit). I miss it, and I’ll definitely get another one before too long.
SixSpeedSteve
> Alexander LaRocca
05/21/2015 at 17:55 |
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Good job with that roof!
Maxxuman
> Alexander LaRocca
05/21/2015 at 17:58 |
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“ Total Spent: $4916.88
Sold For: $5400
Profit/Loss: $623.12”
I think you need a new calculator (app, or whatever you use).
$5,400-$4,916.88=$483.12
davesaddiction @ opposite-lock.com
> Alexander LaRocca
05/21/2015 at 18:00 |
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Old school.
SolamenteDave
> Alexander LaRocca
05/21/2015 at 18:00 |
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I HATE reading articles like this. I mean, it was awesome and well written with a good number of pictures. But, “Art of the Flip” articles always start me thinking about doing the same thing. I’ll look on Craigslist for a few days then, I’ll catch an episode of “Fast and Loud” where Richard loses his shirt on a flip and I lose the fever. Or, at least, it subsides to a manageable level.
Seriously though, great article.
Straightsix9904
> Alexander LaRocca
05/21/2015 at 18:03 |
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Your P&L calculation may be a little off.
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Straightsix9904
> Straightsix9904
05/21/2015 at 18:04 |
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I'm an idiot, you sold the rims.
PhiLOL
> Alexander LaRocca
05/21/2015 at 18:10 |
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Well this angle looks familiar.
Cheesewhiz
> LongbowMkII
05/21/2015 at 18:10 |
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Start worrying. Here in SoCal, NA’s are starting to creep up — I’ve been looking for a second one. If they look nice, it’s $4000+, easily.
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Cheesewhiz
> Needmoargarage
05/21/2015 at 18:12 |
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I bought one to race and ended up liking it for street use too much. It IS a problem with these things...
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LongbowMkII
> Cheesewhiz
05/21/2015 at 18:13 |
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Beater NB’s it is!
Touchdown Travis
> Alexander LaRocca
05/21/2015 at 18:15 |
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Hoping the value of my MSM appreciates in the near future given its rarity.
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Cheesewhiz
> LongbowMkII
05/21/2015 at 18:16 |
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Well, already got one of those (and they aren’t getting any cheaper)! That became the track car that I’d like to develop further, hence looking for an NA for plain ol’ street duty.
kahpentah
> Alexander LaRocca
05/21/2015 at 18:23 |
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Good for you! When I was 19/20 I spent all my time chasing whores and drinking beer. If I knew now....
Krautastic
> Alexander LaRocca
05/21/2015 at 18:25 |
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Top tip! Actually a tip about the top. Replace the rain rail with the best brand you can get. I think its robbins that makes an actual rubber rain rail, where most rain rails are plastic. If you did your top and did not replace the rain rail, you really wasted your time. When the rain rail cracks (and it will) you’ll find your spare tire filled with several inches of water, or potentially other areas of your trunk flooded. The rain rail is something like $120-150, but you pretty much have to do a new top to get to it. I bought the nice rain rail and the cheap ebay top with zip window. I had to punch my own holes, but the top in the end was actually very nice and fit relatively snug. I had the same crinkles above the windows yours shows, I never could work them out. You may be able to undo the lower perimeter bolts and get the rain rail out if/when you need to.
Oh! take care of those two heater hoses before they take care of you (and your engine) Check to see if your CAS is leaking, if it is, one of those heater hoses is ready to let go any day. Spend a bit more and get the silicone heater hoses (I sourced mishimoto ones). Silicone isn’t susceptible to oil, so when your CAS starts leaking again (because it will), the hoses won’t get damaged. Both miata’s I’ve owned have blown these hoses. Might look into replacing the internal heater hoses too, which, when they blow, goes all over your feet for a nasty hot surprise.
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Alexander LaRocca
> Maxxuman
05/21/2015 at 18:26 |
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The wheels I sold add $140 to that.
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Alexander LaRocca
> SixSpeedSteve
05/21/2015 at 18:26 |
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Thanks! Definitely the hardest project to date.
cream wobbly
> Alexander LaRocca
05/21/2015 at 18:29 |
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Perfect timing for me. I’m a couple of paychecks away from a Miata myself, so it’s good to know the softtop replacement isn’t a huge deal. Or at least, is a huge deal, but can be done by fellow cheapskates.
The only thing I’d say is this:
Profit/Loss: $623.12
Actually that’s turnover . Profit is what’s left when you’ve paid for labor. Whatevs, if you don’t value your time. But (nods vigorously) if you take that time as learning time, then you could probably itemize the labor cost as a negative-negative (?), like this:
Education 10 hours ...................... +$500
And then come to:
Profit/Loss: $1123.12
Sure, not real money, but but we deal with make-belief money all the time.
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Alexander LaRocca
> Krautastic
05/21/2015 at 18:30 |
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Good call on the rain rail! I should have mentioned that. I did opt for the rubber rain rail from Robbins when I bought it. Whoever replaced the window previously actually didn’t put the top between the rain rail, it was just squeezed together and doing nothing...luckily they never drove it in the rain!
71Bacon
> Alexander LaRocca
05/21/2015 at 18:31 |
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How does a sale of $5400 with costs of $4916.88 equal $623.12 in profit?
Because Miata. Inexpensive enough to make errors without hurting yourself.
Simon L
> Alexander LaRocca
05/21/2015 at 18:36 |
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How many hours’ work? (including finding/buying parts, listing the car, etc etc). That’s the kicker here. You can work out if you made $5/hr or $50/hr...
05SSSC
> Alexander LaRocca
05/21/2015 at 18:46 |
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THANK YOU FOR THE REGULAR CAR REVIEWS REFERENCE
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Alexander LaRocca
> cream wobbly
05/21/2015 at 18:47 |
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I enjoyed this comment. I’d say the top was a medium deal. To someone who’s not completely new to wrenching, it can be done.
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Alexander LaRocca
> 05SSSC
05/21/2015 at 18:47 |
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IT’S THE BEST! IT’S NUMBER ONE!
TwoFortified
> Krautastic
05/21/2015 at 18:48 |
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What is a CAS on a Miata, that it leaks?
Nissans have a CAS...a Crank Angle Sensor. Sometimes, it feels like everything on my engine is leaking, but thankfully my CAS hasn’t started yet.
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05SSSC
> Alexander LaRocca
05/21/2015 at 18:52 |
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RCR is life bro. Btw, really cool that you do these little flips. Seems like a nice and fun way to make some cash!
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Alexander LaRocca
> Simon L
05/21/2015 at 18:54 |
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12 hours for the top, 3 for the regulator, 1 for the deflector. I probably spent an hour with the buyer. I wouldn’t count things like polishing/cleaning the car, because I figure that’s just basic maintenance (I like to keep a clean car). So about 17 hours, right? So $36.65/hour. There’s always someone who wants to know! Happy to oblige, but it’s not about a payday..more like learning new skills and gaining experience.
Prophet of hoon
> Alexander LaRocca
05/21/2015 at 18:56 |
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that’s a good first start, but after flipping hundreds, if not more than a thousand cars - I won’t get out of bed if I don’t double my money. WITH THAT SAID, this isn’t criticism and I really think you did VERY well. Keep your eye on the basics, if it doesn’t make you double, then don’t do it (mods, car purchase, sales, etc). You started with the right car, but I’d have beaten him up a lot more (of course, where I live the tin worm isn’t as much of an issue) because that car is only $2500 at auction... and that’s really where you’ll make your money. Tow auctions are a gold mine, you’re normally only bidding against scrappers and wrecking yards whose max dollar is the value of the engine and transmission. If you’re flipping, you can pay for condition as well. But remember, every dollar spent needs to double on sale - and that doesn’t mean “double by lying about the issues with the car.”
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Prophet of hoon
> Krautastic
05/21/2015 at 18:57 |
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Ignore that top tip, if you’re flipping the car - no one is willing to pay extra for anything.
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Alexander LaRocca
> SolamenteDave
05/21/2015 at 19:00 |
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Thanks! I think! It’s not for everyone, because there’s always going to be the risk of losing money. But if and when I lose money on one, I’ll take my loss and divide it by the months I owned it and compare that loss per month to a lease payment and feel much better!
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Alexander LaRocca
> Prophet of hoon
05/21/2015 at 19:09 |
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I appreciate the advice, and I get where you’re coming from. The difference between us, I think, is that you flip for a day job and I need my flip car to get me to my day job. I’ve been to a few auctions, but I need to know that the car I buy will get me to work/school tomorrow...so I guess that’s why I pay that premium with the private sales. Thanks, though!
It's a "Porch-uh"
> Alexander LaRocca
05/21/2015 at 19:21 |
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You’re in good company. One of the designers/engineers for the NA Miata (Norman Garrett) also rescues and flips Miatas.
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Alexander LaRocca
> davesaddiction @ opposite-lock.com
05/21/2015 at 19:21 |
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I figured if it survived for 18 years, I wasn’t going to be the one to debadge it.
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Alexander LaRocca
> Cheesewhiz
05/21/2015 at 19:24 |
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Can you really call it a problem that the Miata is good at so many things? It seems Miata was the answer, you were just asking it the wrong question!
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Alexander LaRocca
> It's a "Porch-uh"
05/21/2015 at 19:39 |
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It’s not a bad way to spend a weekend, that’s for sure. Thanks for the fun fact!
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Cheesewhiz
> Alexander LaRocca
05/21/2015 at 19:47 |
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Yeah, but Miatas are like crack: Once you’ve tried it, it’s going to be “the answer” no matter how wrong the question.
So yeah, it’s “a problem.” ;)
Blair
> Alexander LaRocca
05/21/2015 at 19:56 |
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I just feel these cars are overrated. My father in law has a low mile 1997 NA and is much prefer an FD RX-7 any day over it
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Alexander LaRocca
> Blair
05/21/2015 at 20:00 |
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Same brand, but apples and oranges.
Maxaxle
> Straightsix9904
05/21/2015 at 20:05 |
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He’d be a fool not to get rid of the tri-spoke rims.
bigwhiteyeti
> Blair
05/21/2015 at 20:11 |
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Good luck finding an FD RX-7 with 72k miles in decent shape for $4,000. People like Miatas because they are *cheap* fun cars.
j250ex
> Alexander LaRocca
05/21/2015 at 20:20 |
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Good post. Flipping can fun and profitable. I troll auction sites sometimes looking for cars that might be fun. Best one I saw and didn’t buy was a 99 2500 suburban that was mint and owned by Raytheon. Went late in the auction and sold for like $1700.
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Blair
> bigwhiteyeti
05/21/2015 at 20:22 |
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i totally agree on the cheap and fun part.......it was fun driving it because it was so small and nimble but I grew bored of it fast
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billdaily
> Alexander LaRocca
05/21/2015 at 20:29 |
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So after your labor hours, you LOST money correct? Lol.......
This should be titled how NOT to flip a car, 101. If you can’t clear 2k on a car, don’t start.
Nate
> Alexander LaRocca
05/21/2015 at 20:40 |
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Surely the one thing harder than wrestling that new top on was having to say goodbye...
Great read.
lingenfelter
> Blair
05/21/2015 at 20:51 |
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Most people probably would, as far as looks and power go - but I’m not thinking an FD is going to be as cheap to run.
liffie420
> Alexander LaRocca
05/21/2015 at 21:08 |
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This is probably a dumb question but what is with the NA
example “seller of this spiffy NA” I assume it means naturally aspirated but you had that on your ranger article as well and that was well before they started putting turbos in everything.
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hellohowareyouimfinehowareyou
> Alexander LaRocca
05/21/2015 at 21:21 |
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You faired much better than I did:
NA Miata, 75k miles - $4600
New Radiator - FREE (from a friend!)
New Brake Pads/Rear Calipers - $150
Hard Dog Roll Bar - $600
FM VMaxx-2 suspension kit - $1200
Wheels and tires - $980
Quick release racing wheel - $200
New Water hose kit - $120
Clutch Master and Slave - $80
My time - Incalculable
$4600
+ $3330
—————
total: $7930
.
.
.
sold: $5400
:\
Opticon
> Alexander LaRocca
05/21/2015 at 21:57 |
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Between the roof replacement, window regulator installation, and detail work you could have made twice that profit just servicing someone else’s Miata. LOL
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NIZLE
> Alexander LaRocca
05/21/2015 at 22:10 |
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“large whole”
PhilHartman
> Alexander LaRocca
05/21/2015 at 22:27 |
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Not bragging here but that seems like a tiny profit for the risk and work you put into it. I’ve flipped 6 vehicles in the last 16 months for a profit of $8800 with out really putting jack into any of them (except one). $1466 on average and the average was dragged down by a 2006 Dakota that needed a new transmission put in and I still made $900 on that one. Plus I usually drive them for free for 3 months for use working on some rental properties.
basically I always need a truck and my truck is always up on craigslist for sale from pretty much the moment I buy it.
This is all in registration repairs and everything. I hire out all repairs and detailing. The only tip I have is that when someone wants a test drive I just take a picture of their ID and flip them the key to go out on their own. It subliminally shows my confidence in the vehicle I think.
2000 Cherokee sport $2200->$3800 =$1600
2000 Dodge Dakota $2200->$4000 =$1800
1987 BMW 535is 5 speed $800->$2500 = $1700
1999 Silverado $2300-> $4000 = $1700
2005 Dakota $5300 -> $6400 = $1100
2006 Dakota $6500- > $7400 = $900
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PhilHartman
> billdaily
05/21/2015 at 22:35 |
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Yeah, this I agree with. You should be in a position where even if you get screwed by $2000 unforeseen repairs you still break even.
33WGideon
> Alexander LaRocca
05/21/2015 at 22:44 |
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Wow, I have a 96 in good shape with upgrades for a hell of a lot less money.
Dolby109
> Alexander LaRocca
05/21/2015 at 23:02 |
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Interestingly the only car I’ve flipped was a 94 Miata. I got it for $500 because it’d been sitting a few years (bad brake lines). Fixed the brake lines, broken sway bar link, rear struts, and tires. So I put about $600 in it and sold it for $2100 (it had rust).
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Needmoargarage
> Alexander LaRocca
05/21/2015 at 23:05 |
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Yes, it becomes a serious problem when you start buying a Miata to do each thing instead of one to do it all haha. Ei: my street Miata is too nice for the track, better buy a beater. My beater track rat is too low for rally cross...better buy just one more!
OutOfHere
> Alexander LaRocca
05/21/2015 at 23:25 |
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bravo sir!
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sixthreephive
> PhilHartman
05/22/2015 at 00:01 |
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Thats a lot of Dakotas. I’ll take the e28 though!
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Alexander LaRocca
> OutOfHere
05/22/2015 at 07:00 |
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Many thanks!
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Alexander LaRocca
> Nate
05/22/2015 at 07:03 |
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It was a sad farewell. I didn’t expect it to sell so soon, but it went to a good owner. Thank you!
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Alexander LaRocca
> PhiLOL
05/22/2015 at 07:05 |
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Please don’t sue me!
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Alexander LaRocca
> j250ex
05/22/2015 at 07:08 |
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Thanks! My dad has a 2500 Suburban, excellent tow vehicle and vacation car.
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Alexander LaRocca
> liffie420
05/22/2015 at 07:11 |
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NA=1st gen, NB=2nd gen, NC=3rd gen, etc. I don’t think the letters make an acronym, but they can be found in their respective car’s VIN #.
thegregorius
> cream wobbly
05/22/2015 at 07:25 |
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I’ve never tried replacing it myself, but based on what I’ve heard, replacing the top is one of the most frustrating jobs you can undertake on the Miata, even for those who have done it before. Sure, you can still buy a car needing a softtop replacement, but I would only do it if you can negotiate the price down at least $1000 compared to what you would pay for the same car with a healthy top. This would cover both the cost of the new top and the work and sweat that you’ll have to put in (even if you put a low value on this last factor).
Dabamash
> hellohowareyouimfinehowareyou
05/22/2015 at 07:50 |
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If you’re going to flip, there’s not much point in spending on a snazzy wheel/suspension/roll bar, as people don’t pay extra for mods. I’d just put it back to decent quality stock. You would still have made a financial loss, but only $500 or so.
Saying that, I’ve never flipped a car, so I could be talking bull.
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Dabamash
> 71Bacon
05/22/2015 at 07:51 |
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He sold the alloys, which weren’t included in the figure
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davesaddiction @ opposite-lock.com
> Alexander LaRocca
05/22/2015 at 08:27 |
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Yup. Has to stay.
drdude
> Alexander LaRocca
05/22/2015 at 08:43 |
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I guess im lucky here. I could get a miata like your “finished” one for about the same (or less) as you paid for it. Southeast is not the most popular place for sports cars.
Big Block I-4
> LongbowMkII
05/22/2015 at 08:46 |
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I wont, I will be a happy man, laughing all the way to the bank. HAHAHAHA
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Big Block I-4
> Alexander LaRocca
05/22/2015 at 08:47 |
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You never reverse split a Miata bro. Only traditional split.
Paullubbock
> Alexander LaRocca
05/22/2015 at 08:51 |
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You bought it to high or sold it to cheap, because your time/skill is money and it should be factored in the equation.
Masty
> Straightsix9904
05/22/2015 at 08:52 |
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Nah, it was odd of him to list that profit under his costs section.
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Soichiro
> Alexander LaRocca
05/22/2015 at 09:38 |
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Good flip, thought you were going to keep it. should not have sold it, my bad. if not for my saab92x project, I would have kept it. did the new buyer know the timing belt and waterpump has not been done?. Also the rationale for the duct tape is because I already had a roll in my garage, and I wanted to paint it later, did not get to it.
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Prophet of hoon
> Alexander LaRocca
05/22/2015 at 09:53 |
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You’re well on your way to being able to judge condition of a car without ever starting it up. E.g. red wire everywhere, run away - point is, shoddy repairs never stop at what you can see. Oil on the bumper, bad rings or valve seals, price better reflect it needs a new motor.
One of the best ways to make money, you’ve already done by buying a car with a large fan base. If you like a particular type of car, eventually people will seek you out for advice or to sell their cars (I do this with C3 Corvettes). Miatas are also a good area, but as you found, when there’s a large fan base, making a profit is challenging.
I don’t do this as a day job, simply one to pay for me to play and there’s the final tip - you’ll make the most money (and lose the most) on cars others avoid because it’s too much work. Not to date myself, but I cut my teeth on VW Rabbits - they would have one of two problems, the fuse for the fuel pump, or a blown head gasket. Eventually everyone and their brother realized the fuel pump issue could be fixed with a jumper wire, but there was still a lot of money to be made in replacing head gaskets... but that requires that you have two cars, one you drive while you’re selling and one you will drive once your current one sells (oh does that make for long nights when your first sells before the 2nd is ready).
gla2yyz
> Alexander LaRocca
05/22/2015 at 11:11 |
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How long did you own it? I had a 1994 NA that was rough when I bought it and rougher when I sold it two years later. I lost only $750 ($2500-$1750). Fair deal in my mind!
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whoisbobbarker
> Prophet of hoon
05/22/2015 at 11:58 |
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You’re right about the auctions. My BIL picked up a mid-80s 7 Series, a mid 90s civic, and a late 90s F150 each for under $900. He doubled (tripled on the truck) his money with just a bit of elbow grease and junkyard parts.
Cebu
> Alexander LaRocca
05/22/2015 at 12:00 |
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My good sir, you have mst definitely inspired. Too bad my current wheels are a) still owned by my parents and b) in no great need of work...
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whoisbobbarker
> Blair
05/22/2015 at 12:02 |
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Of course you do, the RX-7 was originally 2-3x the cost of a Miata. It makes sense that it would be a superior sports car.
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Alexander LaRocca
> gla2yyz
05/22/2015 at 12:15 |
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That’s a fair price to pay for some Miata fun! I owned it for 3 months, loved every day of it.
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Alexander LaRocca
> Cebu
05/22/2015 at 12:17 |
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I’m sure it could use some work in one way or another. Even if there’s no sale, there’s still the satisfaction of doing a job yourself and learning something.
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TheJMan92
> LongbowMkII
05/22/2015 at 13:07 |
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Wisconsin here, this is already happening and we have to worry about rust too!
CharlieM76
> Alexander LaRocca
05/22/2015 at 15:50 |
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If you can find one, it’s a ton easier to just swap a frame with a top already installed.
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Kanaric
> Alexander LaRocca
05/22/2015 at 15:56 |
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nice wheels
SantaRita
> Alexander LaRocca
05/22/2015 at 16:18 |
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Seller has taken nice photos.
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Tim
> Alexander LaRocca
05/23/2015 at 10:00 |
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How many hours went into that $600 profit. Hope you at least made minimum wage...
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hellohowareyouimfinehowareyou
> Dabamash
05/26/2015 at 03:20 |
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To be totally fair, it was also for tracking. But I worked on it with the intention of making it better than how I got it, and the best Miata it could be. So it wasn't entirely for profit.
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Krautastic
> TwoFortified
05/26/2015 at 15:39 |
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crank angle sensor as well. On the miata, its back towards the firewall trapped between the valve cover and head. The o-ring ages under compression and the high heat being back by the firewall and it will leak eventually lose its seals. It’s a pretty easy fix. Make sure to mark its location and possibly follow up with a timing light. Alot of people go to fix a rear main leak only to find out it was the much cheaper CAS leak:
http://www.miata.net/garage/cas_ori…
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TwoFortified
> Krautastic
05/26/2015 at 15:53 |
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...What? What??!? Hang on a tick...
...
...Ok, does the Miata have S/DOHC? Why the heck would the CAS be back there? Why does it have an o-ring? Is there...oil in there? Water? Magic Miata Fairy Dust? Apex Seals?
What is this voodoo?!?
EDIT: Ok, I actually looked at the link you posted...looks like the CAS is on the back of the head (My CAS is on the front. Not a big difference)...But I’m still not sure what the O-ring is about? Is it just trying to maintain Crankcase pressure? I guess that would make sense.
SCMiata97
> Alexander LaRocca
09/29/2015 at 14:15 |
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Great read. More Miata info!! Hurrah!
[Side note] you should just buy a miata and keep it and buy another one and keep it and than give one to your dad and buy another one. (pattern = circular). Add boost ..than a V8 and than.. More Miatas!! throw in a truck an old airhead and a Fiat and I think it’s a tri-fecta.
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SCMiata97
> SCMiata97
09/29/2015 at 14:24 |
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