Alright, this isn't going to be a technical week - don't like it? Too bad.
I got laid off last week. I'm not looking for sympathy - it's happened to better people than me.
I've got probably $5k worth of Jeep and parts in the garage that I am seriously considering selling to help make ends meet. Sure, I've got unemployment coming that will cover the mortgage for a while. But I'm most likely going to be Mr. Mom for the next 2-3 years - a job I want, but pays diddly squat in the cash department.
So, should I sell now - before the winter building season? Or should I sell next spring - we might hit the lottery before then. Or do I hang on to it all until the bitter end?
Gimme some thought.
And I'll entertain offers for an 81 CJ8 with a strong 360, centerforce clutch, NP435/NP205. I've also got a RC60 front end that I'll finish rebuilding (new brakes, bearings and Warn Premium hubs), a rear 60, a 30 spline detriot for a 60, and some other stuff.
I'd try to hang on to it for a little while, but if things start to look pretty tight, sell it. There are always going to be Jeeps out there to buy. I wouldn't sell it right off the bat though, because in a couple months, if something good comes along, jobwise, you'll regret selling it off so soon. Least I would...
And I'll entertain offers for an 81 CJ8 with a strong 360, centerforce clutch, NP435/NP205. I've also got a RC60 front end that I'll finish rebuilding (new brakes, bearings and Warn Premium hubs), a rear 60, a 30 spline detriot for a 60, and some other stuff.
Sorry to hear about your situation. Trust me, I know how you feel. Last December I got laid off and was out of work for 5 months (first time in my life). Luckily my wife helped to keep us afloat, when I couldn't.
First thing's first. Do your budget and figure out what you CAN do to cover the essentials. Mortgage (roof for the family), food, and other essentials in that order. The max you will get from unemployment is 26 weeks at $240/week (after taxes). That is pitifully thin to run a household, so give yourself some breathing room.
Next, there is a stigmata some people put on unemployment. Don't think twice about it. It's insurance money you've paid into the system all your adult life, now just happens to be your time for a withdrawl.
Next, in respect to your parts/Jeeps, sell what you need to/can, BEFORE you need the money. If you're stuck in a bind and need cash fast this may lead you to accept a lower price than if you sell it at your leisure. Avoid fire sale mentality.
Last but not least: you have skills and a rig. They may not be skills in your chosen field, but if you can make cash with labor you do at home (engine rebuilds, fabrication, vehicle maintenance, pulling folks out of bad places) it goes a long ways towards paying the bills when you put that with what unemployment pays. Make sure that folks know this is a special case, normally I would be happy to help for free, but I have to feed my kids. Your friends will be understanding and it's better putting in honest work than charity.
I'm not advocating anything illegal here , but supplimental income can help stretch out the length of your unemployment bennies if you think that may be an issue.
PM me if you need a hand working the unemployment system.
I was thinking Id try to rent out my house for afew months to help pay for it self, till I found a job in the same town. For me a layoff means relocating for awhile, but selling a house sucks so Id try to rent it out first....
Just an idea... but putting the wife to work sounds good to me...
Maby you can ebay some stuff, if you need some fast cash, thats got em out of some binds.
Id say put every thing up for sale, but for now ask full price then later when your really tight drop your prices to really sell everything. so maby you could get double your cost on some stuff now, ya never know...
I'm not sure I WANT another job. I'm strongly leaning towards just keeping the kids at home and being full-time Dad.
If I go that route, I'll sell the junk, keep some of it and get back into the sport full-on in 2 years when the wife is done with her residency and making money.
If I do that, I'd keep an engine, the tranny, transfer case and front axle. I'd take my time and rebuild the engine (needs it anyway) as well as the gear boxes. I'm almost done with the axle. I could turn that for a grand in a heartbeat.
in your place, and space allowing,
I'd sell as much junk as you can emotionally part with, build a garage (or convert yours) to an actual Jeep shop and work part time out of it. incorporate yourself, and you can deduct your work space tax time and even if you get little-no buisness, you can still write-off the losses.
I am in a similar situation. Maybe my shit luck will make you feel better. I graduated in May with engineering undergrad and an MBA. My grades are good 3.15 eng/3.5MBA, but too bad nobody wants fresh grads. Every position I have seen wants at LEAST 5 yrs. experience. I have tried everything, finance, operations, civil engineering, construction engineering, hydraulic eng., etc. I am qualified for all that, but that doesn't mean a thing. No experience means no job.
So, I have spent the past six years in school to build up a HUGE debt with all the promises of "when you get out you'll be set." Not a chance. My loan payments start in December and if I don't have a job by then I am moving out of Buffalo and out West to find a job. There are a lot more opportunities out West than in Western NY.
I think it is great that you are considering staying home with the kids. I think that is why there are so many confused kids/teens out there rebeling and commiting crimes. There was a lack of guidance and education due to single parent homes and both parents working. It is not the parents fault, but it is too difficult to support a family financially and then come home and take of everybody too. I think it is a very noble thing to do, plus your wife will be your sugar Momma soon.
they're dying for fresh meat in the engineering market.
I just got an email the other day from HR scum offering a $2500 bonus for suckering jerks to work here.
Hey,
Thanks guys. I really appreciate all the help.
Sundowner, that would be sweet, my resume is sent.
AshmanjeepXJ, that contact is great, but Syracuse is too central NY for me. The only places that I am willing to work in NY is Buffalo or NYC. Other than that, California or Seattle will be the next phase if all else fails.
Mo,
Sorry about your dilema. If you have to get rid of stuff I'd be interested in the RC 60, but don't sell it unless you have to man. Good luck to the wife with her residency.
Mo,
Sorry about your dilema. If you have to get rid of stuff I'd be interested in the RC 60, but don't sell it unless you have to man. Good luck to the wife with her residency.
I went through the same thing last year, in the middle of an axle swap, BAM no more income. I sold off spare parts, or parts I didn't need to make it run again for money. I wasn't able to necessarily buy the parts I needed, but I put it on hold until I was employed again. It sucks, but if you're like me, you have spares around that would equal a few hunnert dollars...
Sorry to hear about the job. Now take that Avatar off, it freaks me out! :flipoff2:
Mo, Sorry to hear it, but I’m glad to hear you want to spend time with the kids. It’s good for the kids and you.
The way I see it, family comes first. That is the real reason my Jeep sat for over a year.
If you have debt, then sell the stuff. No debt, then only sell it if you will profit. If you have the skills to fab an axle, then the whole is worth more then the parts. You have time not money. If you could sell those 60’s 60’s60’s60’s to someone like me with a bit of money and no time, then you’ll have enough money to buy the parts again. Buy the parts, and bank the cash. Repeat cycle.
So in short:
Sell the stuff if you will profit.
Sell if you are in debt, keep your eyes on the long term.
Don’t wait tell you “must sell” and you get pennies on the dollar.
Damm the admin should move this to the forsale forum :flipoff2:
hehee
Damm, sorry to hear that Mo. I had the same thing happen, and had to sell some guns to pay bills. I still hate it but the family comes first.
With your contacts, and knowledge you should seriously think about setting up shop at home. I know many a guy who has paid his bills doing that and most of them are half as smart and know fewer people.
i agree with the guys saying open up shop in your garage
you have the skills and it is something to teach your kids
if they learn to work on engines and stuff you wont have to worry about where they are when they are teenagers
they will most likely be in the garage turning wrenches
i wish some one would have taught me mechanics when i was young
In built my 3yr old son a powerwheels jeep, its cool, I swapped the motors to extremely larger 12volt ones, and added two lead acid high output batteries to run it at 12V it really hauls and climbs hills well for the $60 total cost, it only needs some big rubber tires now...but they were kinda costly....I have a truck style body the "big foot" powerwheels its not shiney but could be built up if you guys need parts or the whole thing...
"Brim em clean get em dirty"
My wife compalins about getting her soap dirty?
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