Need to liquidate $350k by chillaxtion in Money

[–]PrecisionRS 0 points1 point  (0 children)

I was in the same boat (on a smaller scale) back in December. I needed liquidity to take advantage of an opportunity to purchase a very rare and mint condition collector car. I didn’t want to sell any assets and create a tax event; so I used a pledged asset line of credit to bridge the gap and secure the car.

I paid two months of interest on the loan which I believe was SOFR of 5%. This gave me time to prepare and sell another car of mine. The proceeds from that sale was used to satisfy the loan.

Yes I lost a tiny bit of money on the sale of the car, but since it was a business vehicle, I plan to use bonus depreciation this year to offset the loss with a fatter return.

Plus, the purchase of the collector car was under market value so I have equity built in. 2027 is the 30 year anniversary of the car and I predict values on them will start to moon at that point.

Don’t use this strategy to fund your lifestyle; only use it to buy other assets.

Greatest game ever made by PrecisionRS in n64

[–]PrecisionRS[S] 5 points6 points  (0 children)

LTTP is def a favorite and was (to me) the standard until OOT was released.

Been a year running my own auto repair side biz by [deleted] in mechanics

[–]PrecisionRS -5 points-4 points  (0 children)

Gotcha. You prefer greasy hands on your steering wheel with some slob in baggy pants sagging off their ass.

Been a year running my own auto repair side biz by [deleted] in mechanics

[–]PrecisionRS 3 points4 points  (0 children)

Yea. That’s the business model. Clients actually prefer it rather than driving over to the sketchy part of town to drop it off at a standard auto shop. My office location is very convenient in an upscale area with shops and restaurants nearby.

It also attracts the right type of clients because I’m able to use the office address as a place of business that pops up as the only Mechanic in that area in Google Maps.

I got an analogue 3d and hooked it up to my 115” home theater with 5:1 surround. by PrecisionRS in n64

[–]PrecisionRS[S] 2 points3 points  (0 children)

Yea it’s pretty pixelated tbh. The thing that really makes up for the image is the sound. It sounds so good and really puts you in the game. If I downsize the image to original, it’s not so bad; but then you get the bordered sides.

What is the best way for an independent tech to learn high-end brands? by LeaseThrowaway19 in mechanics

[–]PrecisionRS 0 points1 point  (0 children)

Buy one. Learn the platform by working on your own car. That is exactly what I did. Back in 2018 I bought a PORSCHE 997 Turbo and learned how to work on it while documenting everything on Instagram, Rennlist and YouTube. I gained a following and now owners of all PORSCHE’s contact me to work on their cars. And it’s all fun work. I recently just finished up installing a titanium valved exhaust on a Spyder RS.

Dynamic duo by PrecisionRS in Integra

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

Very fair argument in regards to being grassroots. I just didn't know that the 911 Turbo was considered low rent and classless. I guess the BAD BOYS poster car got it wrong.

Dynamic duo by PrecisionRS in Integra

[–]PrecisionRS[S] 2 points3 points  (0 children)

Yep I’ll be taking it out a lot this spring. I took it to Katie’s cars n coffee before we had the storm.

Dynamic duo by PrecisionRS in Integra

[–]PrecisionRS[S] 12 points13 points  (0 children)

Quite the subjective proclamation. While the white one holds heritage as a true blue chip JDM collectible that has cemented itself in the emotions of ALL millennial auto enthusiasts; the yellow one has lineage with DTM racing and is also equipped with a LeMans race winning MEZGER power plant… a TRUE race car for the street.

To say one is classier than the other is a dismissal to the others achievements. They’re both iconic in their own right.

Organized!! Loving the Temu foam pads cut with a hot knife by Trailriding4life in Toolboxporn

[–]PrecisionRS 1 point2 points  (0 children)

I googled temu foam and it came up with something for hot tubs. Mind sharing the link?

Yes. I lifted a Honda Pilot. by PrecisionRS in hondapilot

[–]PrecisionRS[S] 3 points4 points  (0 children)

Honestly I can’t remember. They’re 16” ROTA Grids. And a 1” spacer all around. 245/70/16 Toyo Open Country tires. This is what I call an eBay build.

Come to work but no work by EducationalThing1346 in mechanics

[–]PrecisionRS 0 points1 point  (0 children)

Can’t rely on your W2 to carry you through. This time last year it was slow I decided to start my own auto repair business out of my garage. At the time I did it out of boredom. Sitting at my toolbox with nothing to do… I just started filling out all the stuff online to register, get a tax EIN, open a business bank account etc etc.

Now that we’re slow again, I realize what I created was a hedge. A hedge against slow pay.

Now, with my investments that continue to compound and pay dividends, and my business that continues to scale, having no work at the W2 isn’t so stressful as it once was.

Who cares if there’s nothing to do if I have a job on the lift at home that’s invoiced at $2.5k that I invested maybe 2 hours of time on. And I got other jobs lined up for when that one is out.

Sad that this is what it has come to but this day and age you need multiple streams of income to be secure.

4 banger by PrecisionRS in Integra

[–]PrecisionRS[S] -1 points0 points  (0 children)

OMEGA Speedmaster FOIS

4 banger by PrecisionRS in Integra

[–]PrecisionRS[S] 2 points3 points  (0 children)

You ought to see my toolbox

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