Need opinion keeping project cars, renting a shop or purge and build.

I'm bumping this back to the top because life has been CRAZY for the last 2 months. It's been an unbelievable ride.

1. After quite a bit of negotiation with the prospective buyers, lots of inspections, countless e-mails and phone calls, we closed on the building this past Thursday. Good and bad. Good from a business standpoint, but bad for me. I was able to negotiate into the closing a deal to stay in my "space" for 45 day and then $50/day after that. This gives me a little bit of time to begin packing up everything and get ready to move.

Yep, move. 
 

2. I made an offer on a commercial building and I have the sales contract in my hand to sign over the weekend. Sounds good right? A nice 4300sq-ft cinder block building with offices, bathroom, kitchenette, ceiling heights sufficient for my lift, safe location, inexpensive taxes and darn near "move-in ready'. Everything was going smoothly and we thought it would be a quick and easy purchase.

Nope, life got in the way.

My fiancée has had a bit of a cough for the last few weeks that we chalked up to allergies. She has felt fine other than the cough, but because she is considered "high-risk", we decided to have her tested for Covid-19. Guess what, she tested positive and received the results last Friday. It's amazing how quickly life goes from elation to despair in one phone call. What sucks is this is the third time for her getting bad news. 12 years ago after a mammogram they noticed a lump. That was removed and turned out to not be of any concern. 6 years ago, she was diagnosed with Stage 3 brain cancer. After a full barrage of radiation and a horrible year of chemotherapy, she's been in remission since. NOW THIS! Seriously, it's unbelievable that it happened to her. We are in the second week of her quarantine and her cough is getting better. Other than the cough, she has no symptoms, no fever and good pulse/ox readings. We just need to ride-out another week and she should be good. Luckily I tested negative, but having to stay at home, means I can't do anything but work around here and talk to people on the phone. 
 

Since PA has shut down all new real estate transactions, I can't even schedule inspections on the new building for several more weeks. It looked like it was going to work out, but because the state won't allow certain businesses to open, it going to be a very tight timeline.

On a lighter and brighter note, I was able to sell my entire vintage jetski collection and the '68 Mustang convertible. Everything was going great and looked very positive until she got the test results. As long as she continues feeling better, we will move forward with the new building purchase. If she shows any other symptoms or has health issues, everything else be damned and I'll deal with real estate and cars at a later date.

Shes doing alright, but anyone who prays, I could use a little help sent her way. She's a fighter, has been through worse than this, but this damn disease is a SOB or at least can be when things go downhill.

Will keep everyone posted.

In reply to lotusseven7 (Forum Supporter) :

Sorry to hear about her but sounds like things are on the upswing.  Good luck and how about pictures of the new space?

Good to hear, although I have to admit the "cough but no other symptoms" is a bit concerning. I've had a cough for going on three months now.  I have no other symptoms and I'm not high-risk, so the Dr's office won't test me. I talked to my mother's Dr (my old Dr from 30 years ago) and he suspected it might be allergies and suggested an OTC antihistamine to see if that did anything. It did and I was able to go back to work.  The sort of irony is I work for a company that builds pharma facilities and the most recent project I've been assigned to is a small-scale production suite for a C-19 vaccine. 

Also in for pics of the new space.  Assuming quarantine doesn't prevent you from visiting right now.  We can take our minds off this by day-dreaming about how we're going to layout and fill up your new space.  

In reply to lotusseven7 :

Let me preface this with saying since I don't know you well enough to tell you what's best for you. I'll give you my honest opinion  of what I would do in your situation. 
 First have you considered the tax ramifications of working from your home? 
However if it was  me , I'd build or do whatever at my home.   
We spend enough time away from home and the ones we love. At a minimum if you're working on a

project you are accessible from home. 
 

Sending the prayers for your fiancee. Sounds like she's a much stronger warrior than either of us, so keep in mind a Covid cough that has been nagging will be dust on her shoes compared to brain cancer. She will beat the shet out of it and be back to normal in a few more days.

On the car front,  I have been in a similar whirlwind. Just found out I have 60 days to move, been hit with the COVID house arrest in an inopportune time when I accidentally may have invested most everything in rare, early 2000s sports cars. Feeling the heat with 3 trailers, a boat, and 6 cars in the driveway. Thanksfully the m5 is hopefully going to be on BAT momentarily. The escalade might be a quick sale, the trailex tire trailer is going to be dropped in price.

I am a "get it the fuk out of here" type over a "how much do I have invested in this hobby car". Sell whatever you think would move quickly for prices that ensure it and then junk the junk. Keep a few projects and declutter. Watch a few episodes of hoarders on netflix and you will want free of the mess in no time.

I didn't even know trailex made tire trailers until someone posted one on Rennlist.  His was pretty bad ass, unfortunately he was in Florida.

Post a pic of yours, I'm curious to see it!

Well, another update.

The realtor returned to me a signed "sales agreement" from the seller! I will be dropping off a deposit check today and then the clock starts ticking on our due-diligence period.  Also, the state returned the paperwork for a new LLC and EIN#. Looks like this is going to happen, but with the state still "shut-down" as far as real estate transactions, I have to wait to get all the inspections and appraisal completed.

On a much more important note, it's been 12 days since my much better half has had her POSITIVE COVID-19 diagnosis. She is doing much better every day, with only a slight cough lingering a bit. Friday will be 2 weeks and our in-house quarantine will be over and she will get the biggest hug ever! It's amazing how far away it seems she is even though we are in the same house and really only 20' apart. No contact is very difficult for a person you love. Soon, very soon......................

Getting closer. PA finally relaxed their restriction and has allowed real estate to open up again. I can now schedule inspections, but that should be a problem. The building is concrete block with a combination of wooden trusses and metal bar joists. No environmental issues, so no need for a Phase 1. Luckily we know both the seller and listing real estate agent, there are no hidden issues.

On the other hand, packing up a 6000sq-ft shop and preparing to move is not a fun task! I decided to sort and palletize everything so transporting it will be easy. Also, once it arrives in the new space, unpacking and racking should be much easier without all the clutter. 
 

Here are pix of the building where I will be spending ALOT of time in the months and hopefully years to come.

Congrats and I hope you and your fiance are better today.  My wife was in isolation about 8 weeks after our wedding for a week due to chemo drugs (radioactive) and that wasn't a lot of fun either.  We too were in the same house but apart.  We got married, she was diagnosed with thyroid cancer and I got laid off then too.  That was a crazy year, but it all worked out for the better. 

I hope you the new shop and new LLC all end up in a better place too with your soon to be wife. 

lotusseven7 said:

I really need to go over the receipts and accounting that I have for each and decide how much to advertise them for.

I learned the hard way that when it comes to cars, guitars, and even things like houses...how much time and energy you put into something is irrelevant. If you're serious about selling, you have to stick with fair market value (even if that puts you upside-down). Otherwise you're just fooling yourself.

On a related note (and I'm sorry if this sounds trite), I've also come to realize that you only have one "body." So, you can only drive one car at a time, play one guitar at a time, shoot one gun at a time, etc. So, there's not much point in having lots of duplication.

Right now, I've got a TR4 project and a TR6 project. What's the point? When a beautiful spring day comes up, I can only drive one of them. Why have both? I was thinking maybe I'll make one of them a vintage racecar...but I already have a vintage racecar I love. So what would be the point of that?

In reply to LanEvo :

Well... My thoughts on having multiple LBC's is having more than one increases your chances of having one available to drive when you want to. Since there's a good chance one (or more) will be broken at a given time.  Of course, you may also end up with multiple broken cars at the same time.  Life is full of risks. 

In reply to Ian F (Forum Supporter) :

I guess the point I was trying to make is that I've started to feel like everything I own (especially big-ticket items) should have a purpose.

Right now, I've got two daily drivers that are maintenance hogs (E90 335xi, W124 260E), two LBC projects (TR4, TR6), a spare TR3 chassis, and a racecar I adore (Mercedes 190E 16v). That's a lot of clutter for a house in the suburbs with a quarter acre of property!

The 16v can be raced pretty much anywhere: vintage, SCCA, NASA, and even BMW CCA. So, as long as I have spares and keep it in top shape, I don't need anything else for racing or HPDE use.

It would make a lot more sense to consolidate the two German sedans into one tow-capable truck/SUV, sell off one of the Triumphs, and scrap the TR3 chassis. Then I'm down to three vehicles that cover all my bases. 

In reply to LanEvo :

I don't really disagree.  I have similar thoughts towards my guitars. I have a bloody slew of them, but they all have different sounds and a different feel.  While there are handful I play regularly, that doesn't mean I want to get rid of the ones I play occasionally.  I have a similar take on my bicycles.  Right now, I'm "trying" to pare my quiver of mtn bikes down to three: a XC full suspension, a more gravity-focused dual suspension, and a kind of "all around" hardtail.  I also have a road bike and a gravel bike along with a 20" BMX bike and a very purpose-focused dual suspension jump bike.  All have uses they are best suited for, although some can be used for similar rides, although maybe not ideally. 

My thoughts on cars are similar. Many that can be used for a lot of the same things, but in general with some focus on a particular use. I don't see me realistically getting into racing much beyond the occasional autocross, but otherwise most of my cars will have a lot of "use-overlap" and which one I drive will depend greatly on my mood at the time I decide.  Certain cars - like the GT6 and the 1800ES will likely have a lot of use-overlap, with the intent for each of them to be touring cars.  The Spitfire will also be set-up for touring, but leaning more towards the "sports car" side. 

The minivan and the MINI cover the daily driver needs, with the MINI also covering back-up LBC and autocross needs. I still lack a tow vehicle that is capable of towing decent weight (the max on the minivan is about 3500 lbs) and I still debate on what to do about that.

You guys have me thinking that after I sell my 944, I should sell my 996 and 986 too and get a Cayman.  I'd then have a Cayman and Miata.  Since I have other hobbies too that should be enough.

In reply to Ian F (Forum Supporter) :

Guitars are a actually the perfect example. At one point I had six P90 guitars: a Custom Shop LP Jr., a '56 LP Jr., a '59 Melody Maker, a '63 Gretsch Corvette, and a couple of modern production Gibsons (Special and Jr.)

They were all slightly different. But whenever I wanted to play a P90 guitar, I always grabbed either the Custom Shop or the Melody Maker. The other 4 were basically duplication.

I'm finding I have the tendency to do the same thing with cars ... which take up a lot more space and need a lot more time & money to upkeep.

In reply to LanEvo :

I know what you mean about that.  I have one Strat that I tend to play all the time - an American Std model from the early 90's. Maybe it's a hold-over from my gigging days, but for years I kept looking for a second one that felt the same, which has been a surprising challenge as it seems the necks from that era were slightly different than at any other time during Strat production. As a result, I've collected a few more Strats that I thought would be the same, but weren't. And I never play them. Eventually I'll get them up for sale. 

I try to have each thing do a specific purpose that the others can't do.  Ie, I have a CCW pistol, a shotgun and a rifle.  I don't need any other firearms. 

Mtn bike wise my bike is built specifically for my riding environment by a company whose HQ is 30 minutes from my house, which is the Front Range of Colorado.  It's a full suspension XC bike with tons of suspension under it since I'm not a lightweight guy and has the proper gearing to match.  No need for another bike.

Car wise I do have a little cross over between the R and 996, I really should have a truck or large SUV instead of the R.  I tell myself the R is ok since I'm mostly solo driving in the car, don't have space to park a truck at my house and aren't towing anything right now.

It's too much of a time and space suck to accumulate more stuff right now in a suburban house with not even 1/4 acre lot.  Hopefully when the kids are out of the house we can move into a place with more land that has a detached shop...

In reply to docwyte:

I hear you on all counts about space and a suburban house.  Although if I live in actual Dallas, is that suburban?  If I were 10 blocks away in Plano or Richardson, maybe. 

I know we will be in this house another 12 years since my daughter just got into my wife's dream school, which my wife didn't attend surprisingly. 

I'm down to 2 bikes, and 4 cars....  I have a lot of firearms, but I'm a Texan it's part of the process here.  I feel I need to have enough to arm my entire family just in case.  I also like shooting older firearms like revolvers, etc.

I do really like your Bendpak.  I think being able to stack two of my hobby cars and park the 3rd behind it in the driveway will be far more manageable.  This will leave a spot for my wife to park in the driveway or garage.  I need to sell one hobby car to get to this point, and may have that ironed out soon. 

Ian F (Forum Supporter) said:

I have one Strat that I tend to play all the time - an American Std model from the early 90's ... it seems the necks from that era were slightly different than at any other time during Strat production. 

Not to go too far OT into the guitar world, but I know EXACTLY what you mean.

My first "good" guitar was an American Standard Strat I bought brand new from Sam Ash in Paramus NJ in 1991. It was a 1990 model: white body; maple neck/fingerboard; poplar body with "swimming pool" rout. I absolutely LOVED the neck profile. My particular guitar didn't sound great, but it was amazing to play.

In reply to AnthonyGS (Forum Supporter) :

We've got another 11 years in our current house I suspect.  Once my son leaves then we can move wherever we want, which will be a negotiation between me and my wife.  She likes more urban, I want more space so I can have a detached shop.  There is a neighborhood we both really like that has fairly large lots where I could build a shop and we're still pretty close to everything.

I'm the only one in my family that's a gun guy, hell I'm still in the military.  So if the worst happened I'd toss my wife the shotgun, I'd grab the rifle and away we'd go...

The Bendpak is really nice to have, not only for storage but just to work on the cars.  I don't care to roll around on the garage floor anymore.  It is expensive compared to a 2 post lift if you get the bridge jacks.  I'd still like to get a 2 post lift to add to it but that's also a next house item.

I plan to save a bit on the bendpak by going with a rolling bridge and bottle jacks to start with...... then I can add a bridge jack if I really decide to later. 

I was in the military but have been out quite a while.  I like shooting and have a few older collectible guns that I really like shooting.  What I really enjoy about those firearms is that I can enjoy them and they hold their value well too. 

I suspect I am in this house at least 12 more years and then I too will negotiate with the wife (we discuss it and I think we will be moving outside the city, but still close by, and probably not this city either).

We may be in your neck of the woods later this summer too.  I'd love to see your lift in person before plunking down the coin.

Did a roof inspection yesterday and all is good, no real issues. The addition/garage portion of the building is metal bar joist, metal decking, iso board and a rubber roof. A few small details that need to be looked at(seams, some edge trim, adding some term bar and a small section of gutter). The larger section/original building is fiberglass/asbestos sheeting(Transite) that has been encapsulated and I have the work order from the contractor who did the application. Since the building that we just sold was 93,000sq-ft of rubber roof, I'm sure I can handle any small repairs this 1600sq-ft of rubber roof may require down the road. The main roof, 2800sq-ft, I may re-coat this fall just to freshen it up then I won't have any reason to get on the roof for years to come. Hopefully!

The title search should be completed today and as soon as we have that in-hand, it will be time to schedule a closing date. I only have 3 more weeks to vacate my current space, so "crunch time" is quickly approaching.

In reply to AnthonyGS (Forum Supporter) :

Sure, just let me know

Well it's been several weeks of utter madness! Sold the old building and closed on the new one. It's done, it's over and it's mine. I come to find out was the easy part, the difficult part was moving. Somehow I have to pack up a shop that was in 6000sq-ft with 12' ceilings into a 3500sq-ft building with 10' ceilings. I had friends and family help out with cleaning up, mopping floors, painting floors, installing pallet racking and transportation. It's overwhelming to say the least. When we built our house 6 years ago, I swore to never move again. That idea didn't work out and he I am moved into a new building. All of my stuff/crap/$h!t or whatever you want to call it is in the building. STUFFED IN THE BUILDING with no semblance of order. Now the fun begins, figuring out where to put everything. I tried drawing things to scale on graph paper but that only worked to a point. Tomorrow I will begin placing equipment and see how well I can things to flow. Fingers crossed!

Any updates?