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Old 02-19-11, 02:03 PM   #1
cehowardGS
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My 2nd & 3rd flip, one right after another!! (warning long) :)

First, this is FUN, big time FUN!! With that said, I just completed my 2nd and 3rd flip. I am not a wrencher even the littlest sense. So, whatever I flipped, it was just like I got it.

My 2n flip was my wife's $25 Schwinn Traveler, I picked up at the thrift shop for $25. It was a keeper, until the other day, both my wife and I noticed that the Schwinn is too small for her. Okay, I took some pics, and posted it on CL for $160. The Traveler is about an 84 to 86 model, and even though I only paid $25 for it, the finish and condition of the bike was very good to excellent. In about 4 days, I have about 6 calls and promises on it. I took the advice of a thread on this board that a deal is not a deal until money is in my hand.

One college student was so nice on the phone, that I offered to bring the bike to her so she could see it. She mentioned that she was short.. With that in mind, I had a Lemond Tourmalet that I had purchased several months ago, that turn out to be way too small for my wife, and it was smaller than the Traveler. So, I carried both of the bikes.

When the lady tried to mount the Traveler we all had to laugh. The Travel was about a 56, and she was tip toed. Now, her roomate and her were looking at the Lemond. I quickly told them that the Lemond is almost twice as the $160 I was asking for the Schwinn.. I took off the Lemond and it was a perfect fit..I paid $175 for the Lemond at a garage sale..It wasn't my size, but I knew it was worth more.

Anyway, she offered me $250 for the Lemond..I was saving the Lemond to get a frame and swap out the parts and sell the frame. But, no frame has come my way. I sold the Lemond for the $250. That was the 2nd flip..Come the next day, one of the first buyers other roomates had heard about the traveler.. Result, a sale the Traveler the next day for $160.. I made $75 off the Lemond, and the buyer still got a deal, and I made $135 off the Schwinn Traveler. Not bad for a newbie, that can't sling a wrench...

Only bad part is, the wife saw the funds, and quickly started coming with things to spend my FLIPPED MONEY!!

Now, I am on the hunt for a bike for my wife, before she eyes one of my bikes. My wife needs a 59/60. She is 6 ft tall, and it seems all my bikes will fit her..But, I rather find her one, and keep all mine!!

Sorry for the long rambling, but this was big time fun, and I made money to be spent on buying more for my stable... Life is indeed sweet..
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Old 02-19-11, 02:23 PM   #2
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...
Only bad part is, the wife saw the funds, and quickly started coming with things to spend my FLIPPED MONEY!!
Now, I am on the hunt for a bike for my wife, before she eyes one of my bikes. ...
You need to take your flip money and immediately plow it into more bikes, more flip money, and more bikes, ad infinitum.
(That way you will never have any money, but none of your money will be wasted either).

- Learn to wrench, and you'll be twice rewarded by upgrading every POC you find, and having even less money!
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Old 02-19-11, 02:38 PM   #3
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- Learn to wrench, and you'll be twice rewarded by upgrading every POC you find, and having even less money!
+2.. I don't have that many tools but the ones I have get used a LOT so if you get tools don't buy cheap ones. They will break and then you will spring for the good ones.
If I need some obscure tool to remove something there is a LBS less than a mile away and they let me use tools since I bring a 12 pack every couple of months.
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Old 02-19-11, 04:13 PM   #4
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Nice job! I assume your wife could ride the Prelude 'beater'. That should fit her, and I assume she won't ride in bad weather (like my wife) . So, it's still 'your beater'. Bet she'll enjoy the ride on the Prelude. And the spoils can go into equipment/frames for yourself. Remember, don't call it a beater in front of her.
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Old 02-19-11, 04:21 PM   #5
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Nice job! I assume your wife could ride the Prelude 'beater'. That should fit her, and I assume she won't ride in bad weather (like my wife) . So, it's still 'your beater'. Bet she'll enjoy the ride on the Prelude. And the spoils can go into equipment/frames for yourself. Remember, don't call it a beater in front of her.
No, I ain't cutting loose that Prelude...She has her eye on my 85 Raleigh Competition..And she doesn't know the term "beater", and I am not going to tell her either.. As soon as the wind dies down, I am going to try her on the Raleigh. I will let her ride it, and I will ride the Raleigh Prestige same year 85.

The next flips she will not hear about..
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Old 02-19-11, 04:23 PM   #6
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Originally Posted by auchencrow View Post
You need to take your flip money and immediately plow it into more bikes, more flip money, and more bikes, ad infinitum.
(That way you will never have any money, but none of your money will be wasted either).

- Learn to wrench, and you'll be twice rewarded by upgrading every POC you find, and having even less money!
I did pick up a Spin Doctor work stand at the swap this pass weekend.. I am on my way...I just NEVER been machanically incline, I just want drive/ride...Going to try hard though, thanks for the feedback..
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Old 02-19-11, 04:24 PM   #7
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+2.. I don't have that many tools but the ones I have get used a LOT so if you get tools don't buy cheap ones. They will break and then you will spring for the good ones.
If I need some obscure tool to remove something there is a LBS less than a mile away and they let me use tools since I bring a 12 pack every couple of months.
I am not going that deep, to where I need to borrow tools. If I can just replace some things, adjust some thing, I should be okay. Going to work on it..

Right now, I am searching for a bike for the wifee, and hopefully my 4th flip...
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Old 02-19-11, 07:57 PM   #8
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How To Make A Small Fortune

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Originally Posted by auchencrow View Post
- Learn to wrench, and you'll be twice rewarded
by upgrading every POC you find, and having even less money!
There is a saying in the world of flower
shows (at least that is where I first
heard it), that in order to make a small
fortune in flower breeding, you simply
need to start out with a large fortune.
Quote:

Question: How do you make a small fortune on Wall Street?
Answer; Start with a large one!

This old joke is of unknown origin, but it dates at least to the 1950s. While itís been used to refer to the stock market, almost all industries have used the joke, including: Broadway, Hollywood, Las Vegas (gambling), sports ownership, ski resort ownership, auto racing, newspaper publishing, book publishing, restaurants, winemaking, farming, ranching, internet technology, biotechnology, airlines, automakers, etc.
I think you see where this is headed.
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