Honda CBR 600RR Forum banner
1 - 20 of 43 Posts

Registered
Joined
141 Posts
Discussion Starter · #1 ·
I've been needing a way to 'exit the matrix' & detach from the 'beast system' while still being able to earn an honest living...

And this option is looking pretty appealing after my recent (successful) rebuild experience.

I've been an industrial electrician most of my life. (18 years) But I'm kinda over it. LoL.

I'm over making other people rich. I'm over being a debt slave & paying unconstitutional income taxes to a privately owned for profit corporation...

I'm basically over all of that... And I realized a lot of people sell **** cheap because they can't, or don't want to fix it themselves.

For eg... I'm pretty sure I could turn this 馃憞
Tire Wheel Vehicle Fuel tank Automotive tire

Plus this 馃憞 (worst case scenario) or possibly even much cheaper (my whole rebuild was $400-ish)
Product Automotive tire Font Motor vehicle Gas

Maybe not quite into this 馃憞
Font Terrestrial plant Brand Screenshot Logo


But they do seem to go for $5k all day long...

Which sounds like an easy $2k profit while working for myself, from home...

But I just came up with this idea last week...

Not sure yet how consistent the available supply would be.. or the best places to find 'mechanics specials' deals..

But bikes are so much easier than cars to work on.

just wondering if anyone else has tried this? And how it went?
 

Registered
Joined
18 Posts
Do it.

Tell yourself that you are only willing to risk X amount of money that you'll pump into this exercise as seeding money.

Then give it an honest shot.

If you fail, accept it, analyse it and either try again or move on.
If you succeed, reinvest ALL proceeds, rinse and repeat.

At some point you'll not have to add any money from your own pocket. Set yourself a monetary goal at which point you can start paying yourself with the proceeds.

Remember the risks and insurance costs involved.
You will come across gems and you'll come across lemons.
Honesty is always the best policy for long term success.

Good luck and I look forward to you sharing your 1st flip with us.
 

Registered
Joined
479 Posts
What I see a lot is that people struggle to sell if they don't have a network or advertising structure in place. I just looked through at a different forum's classifieds and found a Dainese suit that's "worth" over $5k listed for under $3k and absolutely no one was interested. Same when I tried to help a friend sell a basically brand new FZ07 and it took a couple months to unload while listed $2k under market value. Have you done craigslist deals or retail sales previously?
 

Super Moderator
Joined
1,256 Posts
Give it a try, can't hurt! Some suggestions:

- write up business-plan, with pro-forma projections, have an expert in biz-development review it

- run it as for-profit business, not hobby

- load up on liability insurance


I did this occasionally, primarily because I can't pass up good deals. You're got mechanical and electrical skills, so should not face the wall that stops most people from doing this. Which is not having sufficient skillz and spending too much time per bike. Know where the 80/20 line is drawn.

My failures in this kind of stuff is I'll fix it to 100% like I would like for my own bike. It ends up taking 4x as long as needed and robs all profits. Then I'm too attached to it and don't sell off quick enough. So even though it's profitable in end, it didn't yield good $/hr return.

Also depending upon location, you may need dealer's license along with any safety & inspection certs needed to sell. So account for that in your projections for time & costs.

Good luck!


Here's basket-case in boxes I revived. It's rebuild & sell fail because I haven't sold it yet! Used as commuter to S.F. for years. Recently used to teach friend to ride.


 

Registered
Joined
857 Posts
I've done this many dozens of times, but as a hobby. I don't think you can make a living at it because the supply of cheap bikes just isn't there. And it's not just fixing, you'll spend just as much time finding the bikes and marketing/selling them.

It helps to have patience and a good sense of humor as you'll be dealing with the folks on Facebook, many of which seem not to have any hint of a brain or common sense. They will ask you for financing or if they can pay with some App you've never heard of. If you don't mention "no trades" you'll get a wave of people trying to get rid of their hacked up old cars/boats/dirt bikes etc. I've even been offered a puppy allegedly worth $4k and a pull- behind commercial smoker, allegedly worth $10k. Lol.

Also to do it legally requires you to title the bikes in your name. Without a dealer license you can only legally sell 5 vehicles a year in my state (SC but most states are similar). Getting a dealer license is essentially impossible in SC for small time sales (requires a physical location dedicated only to selling vehicles and zoned for it, among other things).

You will generally not get Kelley Book value. For motorcycles it's almost always a buyers market. I figure I can sell for NADA "low" value whenever deciding whether to buy a project. And it's seasonal. In the spring I can sell every bike I have, sometimes with multiple buyers in line. After mid-July until end of year it's pretty dead (except mid to end of August when college starts, at least I think that's reason for the uptick).

No reason not to at least try it. I've gotten to own many really nice bikes and made at least tire and gas money as well as paying for my three "keepers."

This is my current project. Sweet, sweet R1 that needs a new nose:

Wheel Tire Fuel tank Automotive fuel system Vehicle
 

Registered
Joined
141 Posts
Discussion Starter · #6 ·
Do it.

Tell yourself that you are only willing to risk X amount of money that you'll pump into this exercise as seeding money.

Then give it an honest shot.

If you fail, accept it, analyse it and either try again or move on.
If you succeed, reinvest ALL proceeds, rinse and repeat.

At some point you'll not have to add any money from your own pocket. Set yourself a monetary goal at which point you can start paying yourself with the proceeds.

Remember the risks and insurance costs involved.
You will come across gems and you'll come across lemons.
Honesty is always the best policy for long term success.

Good luck and I look forward to you sharing your 1st flip with us.
Thank you for the encouragement 馃檹

And what 'insurance costs' is this you speak of? 馃し I don't plan to pay any... Just curious 馃お
 

Registered
Joined
141 Posts
Discussion Starter · #7 ·
What I see a lot is that people struggle to sell if they don't have a network or advertising structure in place. I just looked through at a different forum's classifieds and found a Dainese suit that's "worth" over $5k listed for under $3k and absolutely no one was interested. Same when I tried to help a friend sell a basically brand new FZ07 and it took a couple months to unload while listed $2k under market value. Have you done craigslist deals or retail sales previously?
The only advertising structure I would be using is FB marketplace/ Let it Go, etc.

And no I couldn't see paying $3G's for used leathers either... No matter what they cost new 馃槅

Retail sales, I did try selling cars for like 6 months when I was 19... I hated it.

I suck at lying to people and I didn't like the people who were good at it. And you don't make any money unless you're good at it.

But that was all way before I woke up & learned discernment... Now I just know not to trust anyone or anything I can't verify myself 馃憤
 

Registered
Joined
857 Posts
I actually forgot to mention the main point I set out to make. Which is if your objective is to make money you really don't want to fix bikes, you want to part them out.

In my case I do it to rescue the bikes and because I like learning about them and fixing them. But the money is in the parts. I bought an '18 Z900 with 3500 miles based on a half-dozen blurry photographs because the price was great. Turned out the PO had JB Welded a crack in the engine block. I would never sell that to anyone and I wasn't going to swap out the motor so I took it apart, bolt by bolt, even the motor. Listed every piece on eBay. Most money I ever made on a motorcycle, more than double what I had into it.

Still not something I want to get into doing but it's a last resort. Took about a year to sell everything and lots of PITA mailing involved but all I have left of the bike fits in one medium cardboard box. A local guy even came and bought the frame.

And that's not just my experience. Oz Cycle is a big used parts seller on eBay. He has the same story:

 

Registered
Joined
141 Posts
Discussion Starter · #9 ·
write up business-plan, with pro-forma projections, have an expert in biz-development review it
Hmm, I'm terrible at planning & asking for help... I wing absolutely everything 馃槣
load up on liability insurance
Liability insurance? Umm I'm trying to escape The matrix... LoL.

What exactly would I want liability insurance for again?


My failures in this kind of stuff is I'll fix it to 100% like I would like for my own bike. It ends up taking 4x as long as needed and robs all profits. Then I'm too attached to it and don't sell off quick enough. So even though it's profitable in end, it didn't yield good $/hr return.
I could see this being an issue for me...
But I was also thinking it could help me not get too attached to one vehicle since you can always just trade up when the new rebuild turns out better than what you're currently riding...


Also depending upon location, you may need dealer's license along with any safety & inspection certs needed to sell. So account for that in your projections for time & costs.
I also don't care about any of this, but that's just me 馃お
 

Registered
Joined
141 Posts
Discussion Starter · #10 ·
I've done this many dozens of times, but as a hobby. I don't think you can make a living at it because the supply of cheap bikes just isn't there. And it's not just fixing, you'll spend just as much time finding the bikes and marketing/selling them.
Thanks for the info 馃檹 We're you just looking for sport bikes? or was that including dirt bikes, quads, etc?


It helps to have patience and a good sense of humor as you'll be dealing with the folks on Facebook, many of which seem not to have any hint of a brain or common sense. They will ask you for financing or if they can pay with some App you've never heard of. If you don't mention "no trades" you'll get a wave of people trying to get rid of their hacked up old cars/boats/dirt bikes etc. I've even been offered a puppy allegedly worth $4k and a pull- behind commercial smoker, allegedly worth $10k. Lol.
Ha! Yeah it is painful... I tried parting out my BMW on Marketplace... I do not recommend, lol.


Also to do it legally requires you to title the bikes in your name. Without a dealer license you can only legally sell 5 vehicles a year in my state (SC but most states are similar). Getting a dealer license is essentially impossible in SC for small time sales (requires a physical location dedicated only to selling vehicles and zoned for it, among other things).
I'm gonna pretend I didn't know anything about that 馃か lol.


You will generally not get Kelley Book value. For motorcycles it's almost always a buyers market.
Yeah I figured... I'm not trying to get rich anyways... I'd prefer to sell things at a fair price actually. 馃憤
I've gotten to own many really nice bikes and made at least tire and gas money as well as paying for my three "keepers."
And I think this would be an awesome benefit 馃憣
Which is if you're objective is to make money you really don't want to fix bikes, you want to part them out.
Nope... Money has never been my primary objective. I think parting out good cars or bikes is kind of a shame actually.

That R1 looks like a sweet project 馃憣
 

Registered
Joined
656 Posts
Personally I have not, but have often perceived that, with my tools and experience, I could make some extra bank from my true passion in life which is motorcycling.
I have never pursued this, though I did meet a man, who sold hardware full time, that flipped his max allowed five units per year. For profit.
A couple observations, first being if you dig around, you can find projects.
Second, avoid eBay, new laws eye are ess reporting threshold is now $600.00US.
 

Registered
Joined
5,982 Posts
Selling bikes on a salvage title is sometimes a PITA.

Location will be critical to the success of your effort.

Build a reputation.

FWIW, skilled electrical diagnosis and repair is a core skill to making modern motos work right.

High performance/specialty marques repair are a niche market that offers opportunity if you can build a rep.

Maybe connect with local moto mechanic shops and offer to do their moto related electrical work?

A knowledgeable and large group of customers who understand you do quality work will help keep things going.

Marketing is always a challenge.

PS....for example, there's no "bring it to me and I'll make it a working/better bike" mechanics advertising OTF at the moment, AFIK.

GL!
 

Super Moderator
Joined
1,256 Posts
Liability insurance? Umm I'm trying to escape The matrix... LoL.
What exactly would I want liability insurance for again?
I also don't care about any of this, but that's just me 馃お
Let's say guy gets bike from you. Then on that weekend's ride, rearset falls off and he gets injured. Doesn't matter why, lawyers will go after you, the State, all way up to Kawasaki Heavy Industries.

You really want to be above board in business. Cross all Ts and dot all Is as far as paperwork. Especially now with computers & AI, they'll know about you. Happened to guy I knew in CA, ended up having to pay all back-taxes on every bike he sold. Late fees on registrations, etc.

Again, consult attourney and biz-devel guy. Get all your paperwork in order with State. DEFINITELY incorporate! Both for liability protection and taxes. You work for corp, it pays your equipment, expenses and salary. Whatever's left at end is taxed, which coincidentally is nothing, since it has all gone to expenses, so corp owes no taxes (like Exxon).
 

Administrator
Joined
12,397 Posts
Let's say guy gets bike from you. Then on that weekend's ride, rearset falls off and he gets injured. Doesn't matter why, lawyers will go after you, the State all way up to Kawasaki Heavy Industries.

You really want to be above board in business. Cross all Ts and dot all Is as far as paperwork. Especially now with computers & AI, they'll know about you. Happened to guy I knew in CA, ended up having to pay all back-taxes on every bike he sold. Late fees on registrations, etc.

Again, consult attourney and biz-devel guy. Get all your paperwork in order with State. DEFINITELY incorporate! Both for liability protection and taxes. You work for corp, it pays your equipment, expenses and salary. Whatever's left at end is taxed, which coincidentally is nothing, since it has all gone to expenses, so corp owes no taxes (like Exxon).
The voice of experience.
 

Registered
Joined
141 Posts
Discussion Starter · #17 ·
Wesley I swear we're brothers from another mother.

I've thought about working on bikes but it's a pipe dream. I've got too many other commitments now I'm trying to get rid of. They're cutting into my ride time.
I basically have zero commitments & nothing to loose so what can go wrong? 馃し LoL.
 

Registered
Joined
141 Posts
Discussion Starter · #18 ·
Maybe connect with local moto mechanic shops and offer to do their moto related electrical work?

A knowledgeable and large group of customers who understand you do quality work will help keep things going.
Meh... I don't really want to work for anyone else or on other people's stuff anymore unless it's a friend...

I would rather just buy a bike...

Fix the bike

And sell the bike.

cash only 馃

with as little interactions as possible. LoL.

Is that weird? 馃し馃槅
 
1 - 20 of 43 Posts
Top