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?
Neighbor has a Ford Deisel backhoe for sale.
I always thought it would be cool to have a CNC Laser cutter.
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-
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.
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.
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.
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.
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.
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.
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. ;D And I might WANT to go look at a house with a built-in gun cabinet.
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...
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. ;D 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.
good reason to have a dog or two also des.
I have never taken my dogs out there. They would probably run off and become Kitty food and eventually Kitty litter.
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. :-\
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.
;D 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
Hmmmm...A used hot tub ::)
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.
I hate to burst their bubble (No Pun) but the habitat stores have them all the time for a hundred bucks or so.
i would walk them on a leash. if something happen they are a good distraction while you get the persuader in use.
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.
Come on by, Dan, but warning - you may have a hard time leaving the Golden State - even with all of its downsides.
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.
Dan you would probably be w* 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.
Quote from: Redoverfarm on October 24, 2008, 03:02:34 PM
Dan you would probably be w* 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.
I got your PM about the auction John. I think I'll pass again. I talked Jane into going to the Celtic festival on Sunday so I could hunt in the rain. I still have a lot of room in the freezer ;D
Peter thought you might be going to the Gun show at Roanoke.
Pretty good day @ the auction. PU a few things for the cabin and the house. Just like most auctions what I really wanted was out bid as the price went higher than I wanted to pay. If that wasn't the case then the high bidder took the selection he wanted and left me with what I couldn't use. Picked up a 6 panel knotty pine door, Kitchen spray faucet($35) the house, Price Fister shower assembly($35). Going back today for another door and PF kitchen faucet for the cabin. I thought $130 was too high but when I checked they are well over $250 .
It's a shame that someone wasn't closer that was building a pier foundation as they had a full pallet of Simpson beam support brackets for $50. Large sized. Will probably have another today. Wish I was in the market for 2X10 # 1 Yellow pine as they had a T&T load of 12-14' that went for a song in comparison to Lumber yard prices.
I hate yellow pine...I will never use it again...I always pay extra at the lumberyard for white pine... Better straighter boards and you do not have to worry about it splitting and cracking...Yellow pine is attractive... but harder to work with...I always will use something else in its stead from now on... I had to learn the hard way I guess
Glenn, north of Beatty. The property backs up to Fremont National Forest. We want to put a travel trailer on it to live in while we build something. We are just planning on spending the summers there. I was born and raised in Oregon. Want to get back, miss the good grocery stores. Nothing much in Arkansas except WalMarts. [frus]
Yeah it would stink having to go to Wal mart all the time for everything.... I have not been out oregon way much for several years...But I would find it shocking to go anywhere and not see a bunch of wal marts.... they are like a plague that has spread across the country infecting every aspect of our lives.
Quote from: southernsis on October 26, 2008, 01:45:25 PM
Glenn, north of Beatty. The property backs up to Fremont National Forest. We want to put a travel trailer on it to live in while we build something. We are just planning on spending the summers there. I was born and raised in Oregon. Want to get back, miss the good grocery stores. Nothing much in Arkansas except WalMarts. [frus]
That's way out there, Sis. I never made it to that corner of the state much. I was through K-Falls trucking a lot -but not much more -- and that is cold in the winter. Still an interesting area. Went to the Lava Tubes and Concentration Camp a few years back.
Buy lakefront land.......or at least waterfront land.
pretty sound advice there waterfront land never seems to go out of style
We have lakefront land here in Arkansas, that is why we are not in a hurry to sell it and move full time. Just want to beat the humid heat in the summer by going to Oregon. The property is about an hours drive east of Klamath Falls. WalMarts are the scurge of American. What I wouldn't give for a Safeway, Albertson's, King Super, or Fred Meyers. Haven't gotten any decent fruit in so long, I probably wouldn't know what it was like. :( Keep giving people garbage and then they don't expect anything else.
Luckily we live close to a farmers market...we go there almost every week-end