911 Project Purchase Help

kanihitit · 05-08-2003, 03:28 AM

Hello Everyone,

Im looking at purchasing a 70 911 E Sunroof Unfinished Project. The car has been sitting for 5 or so years, motor does not run (original engine/tranny), needs paint but has good pans/rockers all they way around. It has all the glass and is about 85%-90% there. The car needs seats, some interior and trim pieces , front bumper and probably a host of other minor things that will add up Im sure. The current owner knows he does not have everything but knows he has the all the big parts.

My plans are to strip it down and rebuild the car as a project. I plan to put a 3.2 or 3.6 in so the current engine status does not concern me too much. I will update/upgrade the suspension and will use it for a daily driver and the occaisional DE event but no racing.

The current owner wants about 4000.00 for his unfinished project. Whats a reasonable offer for a project like this? Any and all comments are welcomed..

Thanks

thrown_hammer · 05-08-2003, 03:55 AM

Check the rear seat bucket area for rust. Trust me.

Halm · 05-08-2003, 04:03 AM

Does the motor still have MFI? If so, you might be able to sell it and reduce the initial cost. Sounds like a fun project.

Hetmann · 05-08-2003, 06:30 AM

If its a Florida car I would look at it very closely. Since its been sitting for so long the present owner obviously has lost interest and needs to get it out. Lowball him and see what happens. $4K seems a bit high for a project in this condition. Once you add up everything that need to be done to it, that will be an expensive 911.

IROC · IROC's Garage

Hetmann is exactly right. I've seen people buy "projects" for what they thought was cheap, only to end up dumping $12k into what ended up being a $8k 911T (or whatever).

Try and get a good idea of what it will really cost going in.

Mike

kanihitit · 05-08-2003, 07:58 AM

Halm: Yes the car still has the MFI. What do these go for used? How much can I get for the engine.

Thrown Hammer: I will double check the seats for rust. The PO began a restoration and thats why the pans are all in good shape. I hope he didnt cut corners on the seats.

Hetman and Iroc: You guys hit my main concern right on the head! I do not want to spend 12-15K rebuilding something I could have bought for 10K. This fear of over spending is why I asked the question. It is very easy to overspend on car projects. Dont ask me how I know.

As for as project costs go, I have budgeted 3-4K for everything non-powertrain related while prepared for a 20% overrun. I intend to do all the work myself so I ll only pay for parts. Labor is my relaxation and therapy from thinking/analyzing all day at work. I dont mind paying a lil extra to get my hands dirty for the therapy. Its typically cheaper than a $200.00 an hour shrink twice a week!

Any other comments?

TIA

Schuey · 05-08-2003, 08:43 AM

what about the suspension, doesn't the "E" have some serious money coming to upgrade it?

Halm · 05-08-2003, 08:46 AM

I may get flamed for this number, but I think a properly done E would be worth closer to $15k than $10K. That said, I don't think this could be done right for less than $11k, so you will always be upside down with this car. Do it as recreation and enjoy it, or find one already done and let the seller eat the depreciation. As a tag line I saw on this BB said: "You never own a Porsche, it owns you!"

Randy Webb · 05-08-2003, 09:26 AM

Fear of overspending? You'll spend a fortune to restore any 911.

This sounds like an empty shell -- I'd offer $800.

You want to buy something that is as close as possible to what you want -- UNLESS you just want to the "fun" of doing a prject yourself and are willing to pay for that fun. You might want ot wait for the next stock market bubble....

TerryBPP · 05-08-2003, 11:01 AM

I'm in Naples if its close I'll take a look at it with you.

kanihitit · 05-08-2003, 11:13 AM

Terry Thanks for the offer but the car is out of state. If I pass on this one hopefully I can get a raincheck on the offer. Anyone in Southern Ohio/Northern Kentucky who can take a look?

Thanks

dtw · 05-08-2003, 11:13 AM

I got pretty much what you got in a '72T, sans transmission (but got engine & MFI) for around $1600, as a data point for you.

caliber60 · 05-09-2003, 02:16 PM

It's not worth it to restore any Porsche from ground up unless you are doing it for some sentimental reasons. You will never get your $$$ back. It's better off buying a one that already restored which the previous owner has put so much $$$ in it for some "sentimental" reasons. Or the owner has this "I will never sell this car" mentality when he restored the car. If I got any 911 for free, I would not restore it.

Paint job-$4,000
Engine $6,000
Transmission-$2,000
Interior $2,000

You are already at $14,000. You have already over-spent.

Jim Richards · 05-09-2003, 02:46 PM

dtw paid a reasonable amount...you should too kanihitit.

jim72911t · 05-09-2003, 05:30 PM

I bought my '72T complete, with (smokey) running engine and MFI, for $1800. I drove it home, even. It was definately a project, but I knew that going in and figured I could part it out if I decided not to go through with the restoration and get my money back and more.

The car had an eaten up suspension pan (since replaced and not that difficult, just a lot of work) but is remarkably rust free otherwise.

I know I'll never recoup my costs of restoring the car, but this is a long term project and a labor of love, so it doesn't bother me. I also looked at several rollers in the $4K range, so I think I did okay. A decent early car would probably fetch $8-10K for a T, and prices go up from there.

Good Luck
Jim