Pelican Parts Forums - A word FROM the wise?

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I was going to comment on that bottom feeder comment also. You gotta start somewhere. In the flipping world, as long as you can buy something, and add more value to it and sell it at a profit, you are doing good .
I've probably flipped over a hundred cars in my life . I have only lost money on one . Sometimes, I cash out, and start over with a 2500.00 project, and work my way back up . I enjoy the cheap ones as much, or maybe more than the high dollar ones.
Also , don't take everybody's advice at face value.

Quote:

Originally Posted by Eric 951 (Post 10417236)

As Fred and others have advised, get the legalities of the business in order now. Decide how you are structuring(partnership, LLC, S Corp, etc) and get it done. Get the business filing with your sec of state, get your operating agreement, speak to your accountant to make certain you have all of the bases covered. The operating agreement you will be working under is key to protect everyone and all contingencies. Make certain you and your partner(s) understand it isn't personal, it is business, because everything may be going great until it isn't.
Make certain you are willing to commit--running your own business isn't easy--there isn't anyone to pass the buck to, and you must be accessible. It can be stressful because it is your responsibility to make sure everything is right. When you are working for someone else, you can leave some of that stress and responsibility at the office when you leave--when it is your business, you carry that with you 24/7.

Thank you for the advice. It is my top priority to get this situated in the near future before making any big moves.

Quote:

Originally Posted by fastfredracing (Post 10417323)

Well put! 100 cars? Not bad!! I'm almost there :P

Quote:

Originally Posted by Rawknees'Turbo (Post 10417282)

Does that job require orange colored spray tan?!?!

If so, you're probably already well qualified :D Just remember, the hotdog isn't supposed to be orange.

Quote:

Originally Posted by cabmando (Post 10417684)

If so, you're probably already well qualified :D Just remember, the hotdog isn't supposed to be orange.

I was unaware of that, as unlike you, KC, and Deez, I am not a connoisseur of "hotdogs"! :eek:

Butt anyway, thanks for the tip (just the! :eek:)!

:)

^^^

Where'd you find that pic of Itza/Itchy, the OP?!?!

^^^ I don't know if you're just giving him a hard time but with no context seems like a dick thing to say

A young guy asks for some advice and you say some bondage mask is a picture of him

Sent from my Pixel 2 using Tapatalk

^^^

Itza is very familiar with my "humor", and is always a good sport about the friendly barb slinging.

Got it [emoji106]

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Saw this painted on the back of a contractor's truck today; it seemed appropriate for this thread somehow:

"Hustle until your haters ask if you're hiring."

Quote:

Originally Posted by nb6179505 (Post 10417866)

....

A young guy asks for some advice and you say some bondage mask is a picture of him

I don't see the problem....

Give 'em hell Runnie....that's what 24 gets ya in the real world...same as it ever was :).

Mind the Mad Corgi - see the post above. We are in good shape now with the remains of the Obama economy. The Trump economy may be different.

Quote:

Originally Posted by ItzaMe (Post 10417218)

I can hire someone for $10/hr that would take care of some of the stuff I've been wasting time on at the business and focus more on the #'s. There is no huge need for me to be there full time, but when I leave work and there is stuff waiting for me to get done, it gets annoying. I signed myself up for it though, so can't complain. I just need is structured.

Unfortunately, $10/hr and things getting done requires a lot of supervision. It might not save you as much time as you'd think.

Quote:

Originally Posted by KC911 (Post 10418123)

. . .

Give 'em hell Runnie....that's what 24 gets ya in the real world...same as it ever was :).

And that is precisely why Itza wishes to remain 24 forever!!! :)

Quote:

Originally Posted by nb6179505 (Post 10417876)

Got it [emoji106]

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Good looking out 👍 but yea I'm used to these fools clownin Lol

Quote:

Originally Posted by fanaudical (Post 10417989)

Saw this painted on the back of a contractor's truck today; it seemed appropriate for this thread somehow:

"Hustle until your haters ask if you're hiring."

I like that!!!

Definitely keeping the hustle alive daily.

Quote:

Originally Posted by ShopCat (Post 10420993)

Unfortunately, $10/hr and things getting done requires a lot of supervision. It might not save you as much time as you'd think.

You are 100% right about that.

We are currently in the process of building the 'dream team' for inventorying items and it's a trial and error process for sure with lots of supervision. We'll get there.