What to buy

peternap · October 21, 2008, 06:41:18 PM

After watching the market this week, I've about decided it's toasted for a while or maybe for good. Even though it dumped today, I couldn't find one stock I thought was worth buying. They've stabilized but even a stable stock in a troubled market is a tremendous long term risk.

That leaves me with cash that is doing nothing but attracting nightcrawlers.

I'm thinking about buying a piece of equipment to either use, or rent, that will produce some growth.

So far I've thought about:

A Chipper.
An old timer printing press (Fancy stuff for yuppies)
A small mill (CNC)

Any ideas?

Redoverfarm · October 21, 2008, 06:49:25 PM

Neighbor has a Ford Deisel backhoe for sale.

October 21, 2008, 08:51:26 PM

I always thought it would be cool to have a CNC Laser cutter.

NM_Shooter · October 21, 2008, 08:52:57 PM

I really like the plasma cnc cutters. I considered buying one for quite awhile and trying to build a weekend business around it. I seem to recall that one can be had for ~$10k.

-f-

muldoon · October 21, 2008, 09:11:22 PM

For what it's worth, I'd sit on cash for a while and keep an eye out for deals. Seems like everything is for sale these days. I bought a rifle just recently and was talking today with someone about buying a car they want to get rid of. I dont even need another vehicle, just a price that is a screaming steal.

Earlier in the year I bought the 16x24 shed for pennies on the dollar for new from someone who had to sell it and move it because the house and land was being foreclosed. I picked up a john deere lawn tractor (small L118 series) with 30 hours on it for 500 (2400 new) from someone who bought it without considering if he needed it or not and sold it to raise cash for something else after just a year.

If I had to come up with a single description for what were seeing right now, and it applies in housing, cars, the stock market, the price of oil, the price of gold, and just about everything. "forced liquidation". People selling under unfavorable conditions with no choice but to take whatever they can get. There are some good deals out there, and they will likely continue to get better for a spell. Our dollar is getting stronger because they are more in demand than they were 6 months ago.

Cash is king during deflation.

I'm keeping an eye out for a good deal on a used 4wheeler and a fishing boat next spring/summer, maybe one of those warn winches I always wanted but could never justify to myself at the old prices. To be honest it feels odd; I have been so damn frugal for so long while everyone around me gorged on credit for consumer spending that now I get to selectively purchase debt free just because I used a savings account.

I wouldn't be buying for investment purposes either right now, buy the things you want but couldn't justify at old prices.

October 22, 2008, 09:26:13 AM

if you haven't already, now would be a good time to make sure you had all your survival gear together from bulk food to firearms and ammo.

Squirl · October 22, 2008, 10:06:24 AM

It is always a good time to make sure your stocks on food and ammo are stocked up. I second muldoon. I have been watching the classifieds and am finding buys for less than the cost of a few days rental for equipment. Without credit, people are in a bind and need cash now. It seems most people are over leveraged. It is good to snatch up the means of production now in case there is a turn around.

peternap · October 22, 2008, 10:14:59 AM

I think I'm good on survival supplies and toys.

One idea I had was buying standing timber. Not logging it, just buying it for future logging. That gives money to these holdouts that are strapped for cash but won't come down on the price of the land.

I can use a second deed of trust on the land, as security on the timber to keep them from logging it or selling the land with the timber on it.

My guess is it will be another 6 years before timber prices climb.

desdawg · October 22, 2008, 10:22:21 AM

I stil have amost all of my equipment and could go back into business tomorrow if I redid my bond and insurance. My license is good until July. But where will the work come from. I was installing septic systems and other utilities (electric and water lines). I could reopen my material accounts pretty easily and the help I laid off is still drawing unemployment. I receive notices from from the Department of Economic Insecurity. I would have to insure and register my trucks again. I saved about $6500 in reup fees when I shut down. So probably somewhere in that range to roll again. None of my old builder accounts are doing anything. Housing prices need to stabalize. I have customers that still haven't sold the last ones we did, they have been making interest payments on those construction loans for the last year. I quit 9-25-07. I figured I would sell the equipment when desperation truely sets in. There hasn't been much market for it to date. And I would take big losses like the ones Muldoon capatalized on. Believe me I would like to get back to where I was when all of this began.
But I fear those days are gone forever.

October 22, 2008, 10:33:56 AM

Peter, the standing timber or land was about all I could think of. It seemed to me you were pretty well set for food, shelter, guns, ammo, tools/toys and the like, so I never had anything to say.

Homegrown Tomatoes · October 22, 2008, 10:30:51 PM

Quote from: apaknad on October 22, 2008, 09:26:13 AM
if you haven't already, now would be a good time to make sure you had all your survival gear together from bulk food to firearms and ammo.

Had to grin when I read this. Went out with my bleeding heart liberal anti-gun anti-freedom realtor to look at a house today and she mentioned that she didn't send me this one listing she found because it among its attributes a built-in gun safe and ammo storage. I thought it was such a STUPID reason not to go look at a house. Guns are tools and are necessary especially when you live out of town and have to deal with varmits getting your chickens, etc. Yup, I'd stock up on weapons and ammo.

And I might WANT to go look at a house with a built-in gun cabinet.

MountainDon · October 23, 2008, 01:09:59 AM

Well, FWIW, and it doesn't seem like much, we've added a few things... mainly winter oriented gear

- a couple pair of MSR snowshoes plus their addon tails for greater weight bearing in varying snow conditions.
- new rain gear, jackets and pants
- new winter parkas for the mountains
- new winter pants
- new pairs of winter boots
- gloves, scarves, toques
- assorted outdoor gear; another surefire flashlight, a box of batteries...

desdawg · October 23, 2008, 10:38:28 AM

Quote from: Homegrown Tomatoes on October 22, 2008, 10:30:51 PM
Quote from: apaknad on October 22, 2008, 09:26:13 AM
if you haven't already, now would be a good time to make sure you had all your survival gear together from bulk food to firearms and ammo.
Had to grin when I read this. Went out with my bleeding heart liberal anti-gun anti-freedom realtor to look at a house today and she mentioned that she didn't send me this one listing she found because it among its attributes a built-in gun safe and ammo storage. I thought it was such a STUPID reason not to go look at a house. Guns are tools and are necessary especially when you live out of town and have to deal with varmits getting your chickens, etc. Yup, I'd stock up on weapons and ammo. And I might WANT to go look at a house with a built-in gun cabinet.

Must be on of those city realtors who has never lived in the country. I don't relate much to city people. When I walk in the mountains I don't see cats but I find a lot of scat and I would prefer to be armed. That is just me. It may never come up but I would prefer to think I am ready if it ever does. The cats are nocturnal and I prefer to be in a safe place when the sun goes down but things can happen out there.

apaknad · October 23, 2008, 11:45:23 AM

good reason to have a dog or two also des.

October 23, 2008, 01:02:48 PM

I have never taken my dogs out there. They would probably run off and become Kitty food and eventually Kitty litter.

southernsis · October 23, 2008, 02:38:22 PM

With people being force to sell off things, I figure I can soon get a good deal on a travel trailer to put on the Oregon property. Each of us probably has a good idea what we would use our money on for an investment or to make money off of. $:-\$

Homegrown Tomatoes · October 23, 2008, 03:20:00 PM

QuoteMust be on of those city realtors who has never lived in the country. I don't relate much to city people. When I walk in the mountains I don't see cats but I find a lot of scat and I would prefer to be armed. That is just me. It may never come up but I would prefer to think I am ready if it ever does. The cats are nocturnal and I prefer to be in a safe place when the sun goes down but things can happen out there.

boy have you got that right! She freaks out when I top hills on narrow dirt roads in the middle of the road (it's not like there are two lanes anyway.) It has obviously never occurred to her that you can see the dust cloud for a mile if someone is coming; I thought about explaining it to her but haven't because it's sorta funny. (I usually drive because of not wanting to have to move 3 car seats and because her car just wouldn't take most of the roads.) The house we looked at yesterday was in the middle of nowhere, and she thought it was beautiful but said she would be scared to live out in the country alone! I told her I'd be much more afraid of living where she does in the city alone!

As to stuff that people are selling off, there is a sign in our neighborhood begging for someone to give ANY reasonable offer on a brand new hot tub bought this year... the folks have bills that need to be paid and are hoping to get enough out of the hot tub to pay a few of them. Their asking price sounded fairly reasonable for a hot tub, but apparently they've not had any luck as the sign is still up.

ED: repaired quote - MD

peternap · October 23, 2008, 04:21:39 PM

Hmmmm...A used hot tub

Homegrown Tomatoes · October 24, 2008, 07:59:45 AM

No, new. Apparently they bought it and hadn't even installed it yet. They are asking $3K for it, but it is a really nice, big one. Even if they got it at the state fair during their sale, they probably paid more for it than that.

peternap · October 24, 2008, 08:01:59 AM

I hate to burst their bubble (No Pun) but the habitat stores have them all the time for a hundred bucks or so.

October 24, 2008, 08:13:40 AM

i would walk them on a leash. if something happen they are a good distraction while you get the persuader in use.

apaknad · October 24, 2008, 08:17:36 AM

that also figures into my plans somewhat SSIS. lotsa deals in MI. on travel trailers right now. i will pull mine around the country looking for land, visiting the C.P. members that want me to stop by and do some treasure hunting(including gold glen) all at the same time. when i find the right land, then that is where i'll start to build.

glenn kangiser · October 24, 2008, 10:01:51 AM

Come on by, Dan, but warning - you may have a hard time leaving the Golden State - even with all of its downsides.

glenn kangiser · October 24, 2008, 10:04:57 AM

Quote from: southernsis on October 23, 2008, 02:38:22 PM
With people being force to sell off things, I figure I can soon get a good deal on a travel trailer to put on the Oregon property. Each of us probably has a good idea what we would use our money on for an investment or to make money off of. $:-\$

What part of Oregon, Sis? - sorry if I missed it somewhere. I'm originally from Oregon - Rose Lodge - b. McMinnville.

Redoverfarm · October 24, 2008, 03:02:34 PM

Dan you would probably be

in WV . But if you did you would probably end up staying. I figure it will be a while until the mountain state falls into the Atlantic.

As for me buying I am about bought out. It seams that everything I need rather than want hasn't dropped in price. Going to the auction again on Saturday. Maybe something there will hit my fancy and will actually be what I need. They always have a few toys and I am needing a finish nailer. Had a farmers sink (granite) the last time but had to leave early from that one. My luck it probably only brought 50-100 dollars.