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I've done some of this and I try to keep a couple grand in mad money handy to buy something the piques my interest and needs some TLC and a little wrenching. It's amazing how many cars/trucks/bikes are disposed of at rock bottom prices because they have been slightly damaged, need a head gasket, or a transmission.
The money is there for the taking, you just need to work for it a bit, and I have a self followed rule.....I don't buy anything I can't double my investment on in a matter of weeks, it keeps me from buying on impulse, or paying too much.
I think your investment strategy is a very sound one.......you are in control of it.
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