July 5th, 2011, 11:55 PM | #1 |
ninjette.org certified postwhore
Name: Bob
Location: CA
Join Date: Dec 2008 Motorcycle(s): '08 Ninja 250r, '14 CBR500r Posts: A lot.
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Considering a new project....
My friend's landlord left a Honda under a tarp in his backyard. It's a cruiser, not sure the model, but I'm guessing it is in the 750cc range. Considering it's present resting place, it looks to be in pretty good condition, although I'm assuming it won't start..... the tag on the bike is '06, and it only has 5.5K miles on it.
I had the crazy idea of making the landlord an offer for the bike, fixing it up, and flipping it. I have never done anything like that, but with all the work I do on my Ninjette, was thinking I may be able to handle it. Assuming I was able to turn a profit, I was thinking it would be a good excuse to start a new bike fund. I know I'm giving virtually no information, but generally speaking, how hard is fixing and flipping bikes? I know when I look at local classified, I rarely find anything I am interested in, so I was concerned it would be hard to sell a bike for a profit in this market and economy. I have NO idea how to make an offer on a bike in this situation, and based on what I pay for Ninja parts, am wondering how realistic it even is that I may make a profit, not to mention if it would be enough to make it worth my time.... now if I wanted to keep it, that would be different, but his would be purely for profit & man points. Any thoughts or advise?
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Honda Interceptor VFR800 DLX (2014, 8th gen) Honda CBR500r (2014) - FOR SALE Kawi Ninja 250r (2008) - Restored and passed-down within family, only to be abandoned |
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July 6th, 2011, 12:43 AM | #2 |
wat
Name: wat
Location: tustin/long beach
Join Date: Sep 2009 Motorcycle(s): wat Posts: Too much.
Blog Entries: 5
MOTM - Oct '12, Feb '14
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it takes a lot of time and effort (and some spare sanity) but from my experience is very rewarding.
always assume the worst and you won't be let down. don't buy oem parts if you don't absolutely have to. (they're too expensive) repair whatever you can opposed to replacing... you'll spend less / make more money in the end. most parts can be made to fit, whether its an ignition coil from a V6 car going into a 4cyl bike or a swing arm from a ducati going onto a hardley. the only reason something doesn't fit as-is is because it's still got all that spare metal on it. so if there's some expensive part that you can't find aftermarket for, don't assume the only part that will work is expensive oem stuff. be patient, don't take shortcuts.
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July 6th, 2011, 02:44 AM | #3 |
ninjette.org certified postwhore
Name: Rick
Location: Alexandria, Louisiana
Join Date: Jan 2009 Motorcycle(s): 05 Blue Ninja 250 Posts: Too much.
MOTY - 2017, MOTM - Jan '19, Oct '16, May '14
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First thing you need to do is fully uncover it and get all the information you can off the bike. Model name & CC's. Do a visual assessment of the tires condition (dry rot, tread depth), any indication the bike has been dropped such as damage to fairings and dents in tank.
Next look up for sale ads for the same type bike using two categories: 1) those selling a "fixer upper" such as yours. 2)a fully restored bike. Take the difference between the two categories minus your estimate of how much parts will cost to determine if you will make a profit after buying the bike and parts. |
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July 6th, 2011, 02:55 AM | #4 |
ninjette.org certified postwhore
Name: Colin
Location: Bay Area
Join Date: Feb 2011 Motorcycle(s): '96 EX250 Posts: A lot.
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If it was "easy" everyone would be doing it. Flipping anything for profit, whether cars, houses, collectables or anything else is going to depend entirely on your experience and resourcefulness. So if you have to ask how hard it is to fix and flip things, it might not be for you.
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July 6th, 2011, 03:54 AM | #5 |
ninjette.org certified postwhore
Name: Rick
Location: Alexandria, Louisiana
Join Date: Jan 2009 Motorcycle(s): 05 Blue Ninja 250 Posts: Too much.
MOTY - 2017, MOTM - Jan '19, Oct '16, May '14
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No, it definitely won't be easy but if you are up to the challenge, the results will be worth the effort.
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July 6th, 2011, 07:55 AM | #6 |
ninjette.org certified postwhore
Name: Colin
Location: Bay Area
Join Date: Feb 2011 Motorcycle(s): '96 EX250 Posts: A lot.
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At least the experience should be worth it. But there's no guarantees it'll be profitable, especially the first time around. I say forget the idea of flipping it for the time being and use this as an opportunity to better your skills. Try to break even. If there's any profit in it, it's a bonus.
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July 6th, 2011, 08:43 AM | #7 |
ninjette.org certified postwhore
Name: Bob
Location: CA
Join Date: Dec 2008 Motorcycle(s): '08 Ninja 250r, '14 CBR500r Posts: A lot.
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Hmmmm.... sounds like it might not be worth it, but then again could be awesome. $$ is tight, so I need to be smart about starting any new project. I guess my next step is research. If I can get my friend to snap a picture of the VIN#, is there a way I can find out the model and year online (prior to inspecting it myself)?
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Honda Interceptor VFR800 DLX (2014, 8th gen) Honda CBR500r (2014) - FOR SALE Kawi Ninja 250r (2008) - Restored and passed-down within family, only to be abandoned |
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July 6th, 2011, 01:48 PM | #8 |
ninjette.org guru
Name: Al
Location: Bay Area
Join Date: Mar 2011 Motorcycle(s): C-250R-ST Posts: 287
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Sounds like a $$ and time consuming project = less riding time.
Also, it's a smaller market for older bikes |
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July 6th, 2011, 01:50 PM | #9 |
Join Date: Nov 2008 Posts: Too much.
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don't you have enough things to fix as it is?
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July 6th, 2011, 04:26 PM | #10 |
ninjette.org certified postwhore
Name: Bob
Location: CA
Join Date: Dec 2008 Motorcycle(s): '08 Ninja 250r, '14 CBR500r Posts: A lot.
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Isn't that the truth.....
Yes, that is exactly what I want to get a feel for. I don't want to pass up an opportunity is there is one, but also don't want another unnecessary, and expensive, lesson.
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Honda Interceptor VFR800 DLX (2014, 8th gen) Honda CBR500r (2014) - FOR SALE Kawi Ninja 250r (2008) - Restored and passed-down within family, only to be abandoned |
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July 6th, 2011, 05:17 PM | #11 |
Name: ...
Location: ...
Join Date: May 2009 Motorcycle(s): ... Posts: 999
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Perhaps the lesson here, Grasshopper, is that you do not need another lesson.
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July 6th, 2011, 06:00 PM | #12 |
ninjette.org guru
Name: Jesse
Location: Ann arbor mi
Join Date: Mar 2011 Motorcycle(s): 2007 ninja 250r Posts: 374
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I flip alot of bikes last year sold 40 bikes and avg profit was around 300 each so if your ok with all the time and hard work it takes to profit little money go for it.
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July 6th, 2011, 06:05 PM | #13 | |
ninjette.org certified postwhore
Name: Bob
Location: CA
Join Date: Dec 2008 Motorcycle(s): '08 Ninja 250r, '14 CBR500r Posts: A lot.
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Quote:
Maybe my friend's landloard will pay me to haul it away then I'm guessing you only do it as a hobby then?
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Honda Interceptor VFR800 DLX (2014, 8th gen) Honda CBR500r (2014) - FOR SALE Kawi Ninja 250r (2008) - Restored and passed-down within family, only to be abandoned |
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July 6th, 2011, 07:34 PM | #14 | |
ninjette.org certified postwhore
Name: Rick
Location: Alexandria, Louisiana
Join Date: Jan 2009 Motorcycle(s): 05 Blue Ninja 250 Posts: Too much.
MOTY - 2017, MOTM - Jan '19, Oct '16, May '14
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Quote:
Thanks in advance. |
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July 6th, 2011, 07:38 PM | #15 |
ninjette.org guru
Name: Jesse
Location: Ann arbor mi
Join Date: Mar 2011 Motorcycle(s): 2007 ninja 250r Posts: 374
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July 6th, 2011, 07:41 PM | #16 |
ninjette.org guru
Name: Jesse
Location: Ann arbor mi
Join Date: Mar 2011 Motorcycle(s): 2007 ninja 250r Posts: 374
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July 6th, 2011, 07:49 PM | #17 | |
ninjette.org certified postwhore
Name: Rick
Location: Alexandria, Louisiana
Join Date: Jan 2009 Motorcycle(s): 05 Blue Ninja 250 Posts: Too much.
MOTY - 2017, MOTM - Jan '19, Oct '16, May '14
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Quote:
Thanks Jesse. |
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July 6th, 2011, 08:41 PM | #18 | |
ninjette.org guru
Name: Jesse
Location: Ann arbor mi
Join Date: Mar 2011 Motorcycle(s): 2007 ninja 250r Posts: 374
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Quote:
But for the most part I sit on these bikes for 6 months to 2 years. |
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July 6th, 2011, 09:21 PM | #19 |
wat
Name: wat
Location: tustin/long beach
Join Date: Sep 2009 Motorcycle(s): wat Posts: Too much.
Blog Entries: 5
MOTM - Oct '12, Feb '14
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Jesse, what kind of work do you typically do? just clean them up? do you respray? do you only buy running bikes?
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July 6th, 2011, 09:38 PM | #20 |
ninjette.org guru
Name: Jesse
Location: Ann arbor mi
Join Date: Mar 2011 Motorcycle(s): 2007 ninja 250r Posts: 374
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July 6th, 2011, 09:39 PM | #21 |
ModMy250.com
Name: Tri
Location: St, Louis
Join Date: Sep 2010 Motorcycle(s): 2009 Ninja 250R, 2005 R6 Posts: A lot.
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Also keep in mind that it's got at least 5 years of back registration on it. That alone may likely kill any profit you would see on the bike.
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The www.ModMy250.com guy |
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July 6th, 2011, 09:41 PM | #22 | |
ninjette.org guru
Name: Jesse
Location: Ann arbor mi
Join Date: Mar 2011 Motorcycle(s): 2007 ninja 250r Posts: 374
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Quote:
I just plated a bike that the last time was on the road was 1996 and it was 56 bucks total that covers tax and title and plate and sticker. |
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July 6th, 2011, 10:00 PM | #23 |
ninjette.org certified postwhore
Name: Bob
Location: CA
Join Date: Dec 2008 Motorcycle(s): '08 Ninja 250r, '14 CBR500r Posts: A lot.
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I didn't think of that! Ca is mean too... I once let a car lapse because I was going to scrap it, then I got nasty letters from the DMV threatening me with the tax man. I had to pay to officially be clear to let it go, although I don't recall how much it was. This COULD actually be a bargaining chip.
__________________________________________________
Honda Interceptor VFR800 DLX (2014, 8th gen) Honda CBR500r (2014) - FOR SALE Kawi Ninja 250r (2008) - Restored and passed-down within family, only to be abandoned |
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July 7th, 2011, 08:03 AM | #24 | |
ModMy250.com
Name: Tri
Location: St, Louis
Join Date: Sep 2010 Motorcycle(s): 2009 Ninja 250R, 2005 R6 Posts: A lot.
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Quote:
Bob, see if you can get the VIN and then talk to the DMV to ask how much it would cost to get it registered. If it's got a salvage title, it will also have to go thru a brake/light inspection which isn't free.
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The www.ModMy250.com guy |
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July 7th, 2011, 08:26 AM | #25 | |
ninjette.org guru
Name: Jesse
Location: Ann arbor mi
Join Date: Mar 2011 Motorcycle(s): 2007 ninja 250r Posts: 374
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Quote:
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July 7th, 2011, 08:41 AM | #26 | |
ninjette.org member
Name: Phil
Location: Seattle
Join Date: May 2011 Motorcycle(s): 2011 Ninja 250R Posts: 190
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Quote:
We did use to have 20.00 car tab/registration limits here after a voter approve measure, but over the years the state found misc. ways to nickle and dime us... so what use to be a 20.00 car tab/registration fee is some where north of a 120.00 now... And on top of that they make everyone buy a new license plate every 5 years, their reasoning was that after 5 years the reflective materials used to coat the license plates ware off, and so you have to buy new plates at 25.00 for a pair.... give me a break
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ATGATT Quote Wild Hogs - Woody: "May be I don't want to wear a helmet, Maybe I don't want anything between me and the road" Bobby: "You will if your head falls on it" |
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July 7th, 2011, 08:41 AM | #27 |
ModMy250.com
Name: Tri
Location: St, Louis
Join Date: Sep 2010 Motorcycle(s): 2009 Ninja 250R, 2005 R6 Posts: A lot.
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Haha. The weather is great and the food variety is amazing out here. That being said, I'm not retiring in CA... Too many liberals . I highly doubt I'd ever go thru the trouble of doing another outdated registration. The fees are ridiculous.
BTW Jesse, I like those bikes you posted. You have a lot of talent
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The www.ModMy250.com guy |
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July 7th, 2011, 08:44 AM | #28 | |
ninjette.org guru
Name: Jesse
Location: Ann arbor mi
Join Date: Mar 2011 Motorcycle(s): 2007 ninja 250r Posts: 374
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Quote:
For me I love to restore bikes and I'm a great salesman so it goes hand in hand. |
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July 7th, 2011, 09:12 AM | #29 |
wat
Name: wat
Location: tustin/long beach
Join Date: Sep 2009 Motorcycle(s): wat Posts: Too much.
Blog Entries: 5
MOTM - Oct '12, Feb '14
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i think we all would love to see more pics sounds like you've gone through some great bikes. you should start a thread in the pictures forum so we can drool some more edit: apparently i cant read... :-/
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