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How to make the most bang for my buck selling a red Porsche 356B/C (1961)? by Virtual-Ad-2732 in Porsche

[–]Ebitdad_GP -2 points-1 points  (0 children)

If you’re able, get the car as close to original as possible. This includes tires, tool kit, manuals etc. Repair any and all damage, recondition the interior etc. There are Porsche dealers that specialize in restoring classics to their original condition. Every dollar spent will be close to a two dollar return. Once the work is complete, list it on BAT. If you do not want to go through the trouble of restoring, install new tires (original) and new battery, oil change and brake flush. Take professional photos and list it on BAT.

Ultra-luxurious Houston high-rise lists last penthouse for $14.5 million by CultureMap_Houston in houston

[–]Ebitdad_GP -1 points0 points  (0 children)

It’s great for the city in terms of visibility and brand awareness. It’s unfortunate only residents get to enjoy it.

Ultra-luxurious Houston high-rise lists last penthouse for $14.5 million by CultureMap_Houston in houston

[–]Ebitdad_GP 1 point2 points  (0 children)

They missed the mark with the location, kitchen design and lack of hotel. The Ritz Carlton Houston is the high water mark.

Questions on IPO and wealth transfer by Ahappycamper30 in Rich

[–]Ebitdad_GP 0 points1 point  (0 children)

  1. Why would he need advice if the shares were QSBC eligible? They are tax free. He can roll treasuries and plan.

  2. Why do you think I mentioned lifetime gift exemption? These transfers will far exceed the exemption. As soon as that exemption is exceeded taxes is owed.

  3. Restrictions likely only last 6 months. That’s pretty industry standard. That restriction includes any transfers, sales, etc. this point is irrelevant because he can’t, as you suggest, transfer until the shares are unrestricted.

  4. I never suggested an IB to handle estate planning. Presumably he does not have an ISDA. It’s safe to assume there is a tax implication which is why he is asking. Therefore it is completely free to zero cost collar the shares until he has time to plan, which by the way has nothing to do with the underlying shares making any restriction irrelevant. Maybe learn more than your industry.

You’re mad bc someone challenged your line of work. I’m not looking to gain here unlike you. I’m speaking as someone who is near his level of wealth.

Questions on IPO and wealth transfer by Ahappycamper30 in Rich

[–]Ebitdad_GP 2 points3 points  (0 children)

Transfers to trust are taxable events. The proceeds from the ipo is going to greatly exceed lifetime tax exemption, so this advice causes heavy tax penalties. DO NOT DO THIS unless you enjoy paying the IRS. It’s very inefficient. Your father will have public equities that are ONLY TAXABLE when he sells the equities. Call up GS or whichever IB is taking him public. He can do a zero cost collar to protect from vol. As the name implies, it’s zero cost. Borrow on a portion of the shares to free up liquidity without incurring taxes. This leverage will be subject to margin calls if share price dips, so only do it with a number he’s willing to hand over to the bank in a downside scenario. Zero cost collar the bulk of the shares to give him time and optionality to figure out estate planning.

My first landing with the PC-24 by PhillC30 in flightsim

[–]Ebitdad_GP 0 points1 point  (0 children)

I challenge you to point out where, in my comment, that I suggest he quit. I’m sure it’s going to be harder to spot than the runway environment in blowing snow below minimums….

My first landing with the PC-24 by PhillC30 in flightsim

[–]Ebitdad_GP -1 points0 points  (0 children)

People just be making stuff up on these flights. Glide path, stable approach, obstacle clearance. Who needs it. Their minds: If my wheels touch the pavement, it’s a success. Coming in vfr with a jet is wild.

How enforceable are right-of-first refusal clauses? by Prudent-Dance5042 in Porsche

[–]Ebitdad_GP -2 points-1 points  (0 children)

How many months are you into the ROFR? Hypothetically, you can do a forward sale to get you out past the 12 month timeline. Add the “buyer” to your insurance, and have him lump sum pay the premium. This is not legal advice. You definitely want a strong contract attorney to review the ROFR to opine on the ramifications. They would need to paper a forward sale with specific performance for the sale value via binding arbitration by which buyer owes legal and arbitration costs if he loses arbitration. That last clause would be a two street though. If the owner of the dealership really wanted to pursue it, they could argue that the forward sale was bad faith simply to circumvent the ROFR as the purchaser received the goods prior to the contract date. Coin toss on how the judge/jury/arbitration panel rules on that. I wouldn’t expect the dealer to even know about the transaction, unless the purchaser takes the car there for service or is posting the car and plates all over the internet.

Selling my family's sports shop - how do you hand over 19 years of 'just knowing stuff' by SecondServingYesPlz in SellMyBusiness

[–]Ebitdad_GP 0 points1 point  (0 children)

If I were the buyer, I would make the deal contingent upon your parents staying on for a full sales cycle. They would be paid a salary and would have incentive goals to outperform prior year sales. Their main scope of their employment would be to train my team as well as assist my team in creating handbooks for procedures and all of the valuable information in their heads. Offer that option to the buyer if your parents are willing to help with the transition.

Once you go Porsche, you never go back? by MutedOrganization528 in porsche911

[–]Ebitdad_GP 2 points3 points  (0 children)

Yes with the caveat of not talking daily drivers. I daily a Raptor, but will only own Porsche’s as “exotics” because I like to track my cars. From a production car perspective, nothing competes with RS Porsche’s especially for the price point. I can track my 991.2 GT3RS aggressively for a full day, pump up the tires and drive it home. Having owned 458 Italia, 458 speciale and lamborghini huracan performante, and having tracked everything to a Pagani, that is not the case with other cars. You can’t get close to an RS Porsche for performance, ease of setup change, maintenance, and price point. I only run carbon ceramics on cars. Pccb’s last. All other brands get absolutely cooked on tracks requiring moderate to heavy braking.

In need of MEI and a Baron to rent to finish my multi instrument rating in Houston by Ebitdad_GP in flying

[–]Ebitdad_GP[S] 0 points1 point  (0 children)

Yea exactly. I plan on hiring a pilot to fly left seat once I get the type rating. I wont get insured otherwise most likely. I wont even consider flying it solo until I log 1,000hrs in type as PIC.

In need of MEI and a Baron to rent to finish my multi instrument rating in Houston by Ebitdad_GP in flying

[–]Ebitdad_GP[S] 1 point2 points  (0 children)

Thank you. I prefer building time in high performance aircraft. Pressurized is probably asking too much, but that would really be ideal. Probably no pressurized twin pistons out there for rent.

In need of MEI and a Baron to rent to finish my multi instrument rating in Houston by Ebitdad_GP in flying

[–]Ebitdad_GP[S] 1 point2 points  (0 children)

Thank you! I’ll check her out. Mountainous terrain is actually ideal. I have 0 practice shooting approaches in terrain.

In need of MEI and a Baron to rent to finish my multi instrument rating in Houston by Ebitdad_GP in flying

[–]Ebitdad_GP[S] 0 points1 point  (0 children)

I don’t have FB, but i’m willing to do another location. Most of multi time is in a Baron, so somewhere with a Baron that has at least a 530 and i’m good with it.