To buy a 911 for profit?

wastintime · 07-09-2004, 10:04 AM

Hey everyone,
Just a quick question... I recently got a kind of cool offer to buy an '83 cab really cheaply. The car has a little over 70k original miles on it, and seems to have a new clutch from the way it feels. It has a spoiler added, which I personally don't like (has room for an intercooler), but it looks ok. Basically I don't want to own the car, but as cheap as it's being sold I'l almost like to buy it and drive it for as long as it takes to find a buyer for it. The problem is I know how dangerous of a prospect this can be for a variety of reasons... plus I always thought it was kind of wrong just turn around cars like that. Anyway, just thought I'd see what you guys thought.

Thanks,
Andrew

ken_xman · 07-09-2004, 10:09 AM

Get a Pre puchase inspection by a Qualified Porsche Mechanic. If its 100% buy it and flip it.
I have owned 32 cars, and am 30 years old. About 1/2 were for profit ventures. 1/2 were personal drivers.

wastintime · 07-09-2004, 10:12 AM

Yeah, I'd do my own PPI I guess, so that's not really a problem, and I know the guy selling it, and he's let me use his lift before to look at cars. Ah, we'll see I'll either buy it or I won't

ken_xman · 07-09-2004, 10:20 AM

Unrelated... I might be moving to Myrtle Beach. ..and I am a DIY wrench, and will be looking for others semi- local.

Jdub · 07-09-2004, 10:27 AM

The SC-based Cabriolet is a sleeper car in value, in my mind. First year of the Cab., last year of the SC. That is a car I will own someday.

If the price is right I'd grab it. Let me know if you don't.

John

aigel · aigel's Garage

You can only make money if the engine and transmission are solid. Then you also have to make sure you resist the temptation to fix anything that costs money.

Then it can work.

George

Schuey · 07-09-2004, 11:15 AM

we gotta know how much is really cheap? this will tell alot...

wastintime · 07-09-2004, 11:28 AM

$12k... which is not dirt cheap, but for the shape the car seems to be in, and the fact that I've seen '83s go for much more than that I'm a little interested. I'd probably try to sell it for $16-$17k or so.

Tommy B · 07-09-2004, 11:49 AM

that's a good price, but not a steal. at 16-17 you may have to sit on it for a while.

i used to flip VWs and i would only do it if i could make at least a 50 percent profit.

in NY, you'd buy it for 12, have to pay 1000 in tax to clean the title and maybe a few hundred to clean it up. then you'll offer it at 16, and get negotiated to 15500. now your looking at a 1500 to 2000 dollar profit (12%) on a car that could very easily have problems that could make the car worthless.

if your doing it because it's a hobby and fun to have a convertible for the summer, i'd say go for it. from a bussiness point of view it's kinda tough.

just my 2 cents.

aigel · aigel's Garage

I think realistically, if it is in very nice shape, you can turn it around quickly for 14k. Anything above that will be a stretch. I think you will be wastinyourtime.

Summer is here and before you'd turn around it would be fall and nobody will buy ragtops then ...

As Tommy B says, it is a decent price, for a car you want to drive for a while and fiddle with. A steal would be 8k or less. I have personally looked at a 83 cab for 12.5 locally and the guy sat on it for weeks before he sold it. It was in fine shape. I would have never considered it a car to make a profit on. Decent 3.2 motronic ragtops can be had for 14-18k around here, so getting that for an SC will be tough.

I second that this is a special year, being an SC and a ragtop, however, nobody considers it a collectors item (yet).

Cheers, George

sammyg2 · 07-09-2004, 12:33 PM

How do you make a small fortune buying and selling cars? Start with a large fortune

I bought my last two porsches as investments and I made money on them, prolly around 20 cents an hour

I bought my current 911 as an investment but fell in love with it and don't see selling it in the near future.

I know someone who bought a low miles 83 cab a few years ago for around $16k so it is possible.

JackT · 07-09-2004, 12:50 PM

Be careful. There is a 1985 Cab with 35000 miles on it in Columbia, S.C. for $14,000. The car looks to be in pretty solid.

masraum · 07-09-2004, 12:53 PM

8K might be a really good deal or maybe even 10K, but 12 isn't a good enough deal these days in my opinion. Seems like this could bite you in the azz.

FenderGuy · 01:27 PM

12k sounds like a good deal, if the car checks out. Just buy it ,the SC in my op is a kick a$$ car, for the price you think you want to get out of it won't happen unless the car is excellent clean condition and you find the right buyer.

FenderGuy · 07-09-2004, 01:27 PM

its not this one right?

Dantilla · 07-09-2004, 01:48 PM

Be very careful!

A friend of mine tried this twice, and both times fell in love with the car! Ended up driving them for a few years before parting with them.

FenderGuy · 07-09-2004, 01:56 PM

Quote:

Originally posted by Dantilla
Be very careful!

A friend of mine tried this twice, and both times fell in love with the car! Ended up driving them for a few years before parting with them.

Hos is that bad thing

we should all be so lucky

Hetmann · 07-09-2004, 01:58 PM

This works if nothing on the car breaks while you own it. First incident and there goes your profit.

cowtown · 07-09-2004, 03:30 PM

That doesn't sound like a great deal to me, at least for my area. There's a '78SC coupe languishing in my paper right now, 132K, $6KOBO. Haven't seen it, but the parts are worth that much.