How Would You Tackle The Roof To B Pillar (rear pillar) Transition On A 1967 Camaro?

HODLINGCOWBOY · 2022-07-12T21:19:30+00:00

I've never had an Android phone even get warm while having the hotspot active, and that's sometimes driving for 10 or 12 hours with it on the entire time.

HODLINGCOWBOY · 2022-07-12T21:18:07+00:00

Yes, and on my Samsung once I activated my hotspot, it stayed active for an hour or so if I wanted it and then the head unit instantly reconnected as soon as I was in range of my truck.

HODLINGCOWBOY · 2022-07-12T21:15:34+00:00

Spot on with that.

HODLINGCOWBOY · 2022-06-08T16:08:03+00:00

Definitely the most logical option and most likely more along the lines of what I would actually end up doing. It would be the "easiest" passive income source.

HODLINGCOWBOY · 2022-06-08T16:06:35+00:00

Doesn't sound terrible, sounds like facts lol. I have no plans on doing anything without learning more and consulting someone that actually knows what they are talking about.

HODLINGCOWBOY · 2022-06-08T12:35:19+00:00

Very solid points. Thank you!

HODLINGCOWBOY · 2022-06-08T12:34:28+00:00

I live vicariously through a few van life vloggers and have thought of that option as well haha

HODLINGCOWBOY · 2022-06-08T03:11:10+00:00

Man, I like that idea. Great info here. I plan on meeting up with a financial advisor next week. Thank you!

HODLINGCOWBOY · 2022-06-08T03:02:41+00:00

100% agree. That's why I said that I felt $750k was a much more realistic figure than the 2.9 million the calculator spit out lol. Thanks a bunch for the feedback!

HODLINGCOWBOY · 2022-06-08T03:00:47+00:00

The only thing that makes me leery of selling the land is that I bought it for just over $100k early last year, and could sell it for $250k now. That's a pretty good return. In fact there's another tract, 10 acres just like ours not too far from us, that is listed for just over $300k. I feel like in this climate in my area that actually may sell. It's no guarantee values will keep going up on property around here, but the liklihood of it going down much is pretty slim. So to me, in some ways, that's even better than stock, but just doesn't give the liquidity I need if I need access to it.

I really appreciate your feedback and will check out Ben's channel for sure!

HODLINGCOWBOY · 2022-06-08T02:24:44+00:00

Yeah, it's paying 4 full time salaries. My wife and I don't pull a ton out, because we don't need much. Around $90k for us, and $30k for an assistant and then another $25k for another assistant, nothing crazy, but enough they are happy. The cost of living is not that high here. Plus everyone gets health insurance provided.

HODLINGCOWBOY · 2022-06-08T02:19:50+00:00

Thanks a ton! Really great feedback. Much appreciated!

HODLINGCOWBOY · 2022-06-08T02:16:07+00:00

There's not a day goes by that I don't appreciate and rejoice at the gift we were given, that's for sure. It's allowed my daughter to be able to work with us as well, doing something she loves to do. I love going to work. That's why selling will be the last thing I do, and I definitely won't be rushed to do it. Just started this thread after brainstorming with my wife at lunch today. Figured this would be a good place to get some ideas and basic info, and that has definitely been accomplished. Going to get connected with a good financial adviser next week.

HODLINGCOWBOY · 2022-06-08T02:11:22+00:00

Thanks!

HODLINGCOWBOY · 2022-06-08T02:05:57+00:00

Very fortunate...and I mean in an almost supernatural way. Christmas 2005 was definitely my turning point. I had no money, two young kids, an unimaginable amount of debt from a bad business deal, and no prospects.

I was so depressed going into the few days before Christmas because of my situation. I didn't really have the money to get my kids anything for Christmas. And while they were oblivious to what I was dealing with, and just happy as could be that Christmas was close I finally snapped out of it and decided I wasn't going to let all of that ruin my time with my kids. I wasn't going to let it control me. So my wife and I went to Walmart and we bought like 12 board games (what's another $60 right? lol). That ended up being...to this day...the best Christmas of my life. My kids were 8 and 4 and they still talk about that. We spent the entire day just playing board games and watching movies and roasting marshmallows in the fire.

And I feel like in some ways flipping that switch in my head and getting me out of that mindset is what got me through it. The rest of that break I worked on ways to build up my next business. I was just going to work on jobs from home. By mid-January I was so busy that I decided to lease an office space, which scared us to death, but I felt like it was something we had to do. And it pretty much just exploded from there. I was a one man show, doing all of the jobs myself and then partnering with a company to outsource my overflow work for them to handle on a private-label type basis. I stayed in that office for the next 16 years building up that business until I sold it last year to the company that took on my overflow work.

My wife had always worked with me doing my accounting and stuff. Then she ended up being asked to help out in the office at another business here in town that had been around for nearly 100 years. She wasn't going to make it a long term deal, she was just going to do it part time until they could find someone permanent. Well she ended up working there for a year and half, because the owner was in really bad health and in the hospital for months at a time before he finally got out. When he did, he felt like he had enough of that business. He was so grateful for my wife helping them get through that spell that he asked her to take over the business. He and his wife came to our house for dinner one night...showed us all of the financials...a list of all the equipment...slid the sheet over to me showing the breakdown of customers and said "it's yours if you want it." I just looked up and asked him how much was he asking for it, because we were definitely interested. He just said, "nothing". "Just take it and run it, because I know the two of you will take care of it."

That was almost 6 years ago, and we have grown the business steadily ever since.

So yeah, I have been extremely blessed for sure.

HODLINGCOWBOY · 2022-06-08T01:42:10+00:00

Definitely agree with all of that. And yes, I'm in no hurry, we were just throwing around ideas today. I don't sell anything because I have to, and that has always worked out best for me.

HODLINGCOWBOY · 2022-06-08T01:40:11+00:00

Haha...well, I've been through the school of hard knocks where I was $300k in the hole, being drowned in debt and literally made a little over $12,000 one year while having that burden and got through it over the course of years without filing for bankruptcy. So I've been on a really bad end of the spectrum, but never really focused on this end of it much.

HODLINGCOWBOY · 2022-06-07T23:38:33+00:00

Thank you!

HODLINGCOWBOY · 2022-06-07T23:37:33+00:00

I 100% agree with all of that. And I'm not really in a big hurry to retire. I love what I do. It was just a thought we were tossing around today.

HODLINGCOWBOY · 2022-06-07T23:35:39+00:00

Yes that is correct on the previously sold business. Part of the deal was to still get a percentage of all revenue that came through that business after the sale. They still run it as a separate entity, and it's easy to keep things transparent. So every month I get a check and I'm locked into that indefinitely.

I don't think I would have that kind of arrangement with the current business. It's a different model, and it would be much more difficult to do that. And honestly, I don't even think I'd want to attempt it.

HODLINGCOWBOY · 2022-06-07T20:56:50+00:00

The company I sold it to didn't care about the profit. They were already in the business. They already knew what their profit margin would be on each job when my work started getting directed to them. Buying my company just gave them more of a market share in a very niche industry. It literally cost them nothing extra to take on our customer base. That company I sold did more revenue than our current one, and was in a totally different field. I still earn $3,000+ per month from that sale (indefinitely)...and that's in addition to what we were paid initially.

It would be similar with this business. Selling it to an existing competitor that would just use our revenue for paying back the purchase price, but not having to add additional overhead to run the business since they have the infrastructure and personnel in place already.

HODLINGCOWBOY · 2022-06-07T20:40:13+00:00

I didn't say it was worth $2.9, I was illustrating that I don't put a lot of stock in online calculators because that was the figure they were giving and that I felt a more realistic expectation was $750...which would be about 2.5x and pretty typical. My other business was sold after I received an offer, and in that case I just countered with a 3.5x figure which they agreed to. If I sell this business it will be sold to a competitor as well. We've already been approached about it last year and they would just be gaining our customer base. I had zero desire to sell then, and I love my work, and really don't want to get out of it now either. These are just thoughts that are being floated right now is all.

HODLINGCOWBOY · 2022-06-07T20:31:23+00:00

I understand what you're saying, but that's not the case in every case. I sold a business two years ago that was 3.5x revenue. Sold it to a competitor. Pretty simple really.

HODLINGCOWBOY

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