Buying a known (?) problem
Would you willingly buy an RV with water damage if the price was right? Hubby and I own a 2004 Gulf Stream Class C which has served us faithfully; but now we're pondering going south with our 3 dog...
Forum Discussion
Deb and Ed M,
Thanks!
Per your initial post admiration of the floorplan etc for your needs and wants and subsequent water damage perhaps findings as I had interpeted them, $4335 would be a very very cheap price for the RV if the rest of it is in good condition. Remember that you actually saw the RV and I have not and can only speculate by using your words and the NADA etc type publications and the 50 years of RVing and the many RVs we've owned and have experienced. Very smart in waiting if it had been on the block before and perhaps still did not go. 2 times at the auction and not meeting a reserve could spell out what about what range any buyer is even willing to spend for it. You'll lose nothing by taking a chance it will go on the block again except a little time as you said.
It can be extremely hard to sell an RV with known and visible water damage and you having poked actual holes thru the damage will make it even harder as it's no secret. In the end, you may eventually get the Gulf Stream for like $4400 or $4500 and that will leave a lot of room for any and all repairs and still let you re-coupe all monies spent and make a profit even though that is not your immediate goal. I'll bet that scenario wouldn't hurt your feelings a bit though and still have had the repaired RV to use before you'd sold it! You'd have to put a $ value on your labor needed to repair the RV and it's not likely to be thought of as $5/hr and it's also not an actual business venture and ofcourse has to be kept separate.
The good part is that you won't pay taxes on any profit $ made with the selling of the used personal registered RV and it sure won't appear on your own personal tax returns as in not connected to your car business in any way. As a past longtime business owner, I know dearly how incredibly high the tax burdens etc are!
Good luck with your continuing RV unit venture!
Thanks!
Per your initial post admiration of the floorplan etc for your needs and wants and subsequent water damage perhaps findings as I had interpeted them, $4335 would be a very very cheap price for the RV if the rest of it is in good condition. Remember that you actually saw the RV and I have not and can only speculate by using your words and the NADA etc type publications and the 50 years of RVing and the many RVs we've owned and have experienced. Very smart in waiting if it had been on the block before and perhaps still did not go. 2 times at the auction and not meeting a reserve could spell out what about what range any buyer is even willing to spend for it. You'll lose nothing by taking a chance it will go on the block again except a little time as you said.
It can be extremely hard to sell an RV with known and visible water damage and you having poked actual holes thru the damage will make it even harder as it's no secret. In the end, you may eventually get the Gulf Stream for like $4400 or $4500 and that will leave a lot of room for any and all repairs and still let you re-coupe all monies spent and make a profit even though that is not your immediate goal. I'll bet that scenario wouldn't hurt your feelings a bit though and still have had the repaired RV to use before you'd sold it! You'd have to put a $ value on your labor needed to repair the RV and it's not likely to be thought of as $5/hr and it's also not an actual business venture and ofcourse has to be kept separate.
The good part is that you won't pay taxes on any profit $ made with the selling of the used personal registered RV and it sure won't appear on your own personal tax returns as in not connected to your car business in any way. As a past longtime business owner, I know dearly how incredibly high the tax burdens etc are!
Good luck with your continuing RV unit venture!
