Best tractor type for restoration/resale?

ccaissie · Mar 14, 2014

In my spare time, I'm often fixing tractors for local small farmers...mostly the older types. Farmall cub,A C,H, Massey 30, 8N.

If I was to try to acquire a few tractors for restoration and speculative resale, what advice would you give me? I'm thinking about availability of parts, ease of repair and utility.

I'm talking about working-type tractors, not those gussied-up museum pieces with shiny paint...or are those the most lucrative projects?..(somehow I think I'd lose my shirt on a full restoration.)

Any advice (except DON'T!!!!) appreciated.

Colin

Wemedeeres · Mar 14, 2014

I'd say you answered your own question, if you are already doing some repair on tractors for others and you are comfortable working on those models then by all means get one you are familiar with working on. Chances are you may have had to purchase a specialty tool of some sort or have found a short cut you could use on your own project.....just my two cents.

Jim in Ma. · Mar 14, 2014

Depending on what is popular in your area I think the above listed would be a good choice. Also think about attachments to go along with them.

JRSutton · Mar 14, 2014

I'd stick with one brand and one or two models.

Either IH - JD or Ford - just for parts availability.

That way you'll develop your own parts inventory over time. (WAY cheaper and faster to use your own spare parts - means higher profit)

Being a guru on a model means you'll save a lot of time researching and looking for new parts when needed. Time is money.

You'll also become an expert when it's time to go shopping for restoration candidates. You'll know exactly what a tractor needs - and how much it's going to cost you to fix it.

You lose when you venture into the unknown and hope for the best. The less you have to guess and approximate, the more likely you are to profit.

Honestly though - I don't know where you live - but a local market can get saturated pretty quickly.

How many guys around you are looking for old tractors? You might find pretty quickly that you've sold one to everybody who wants one. Then you're looking at customers who have to pay shipping... that could get real tough if you're wanting to make a buck.

Near me - you're probably best with the cubs as lawn mowers. That's the biggest need here in sprawling suburbia.

Another approach you might want to consider is restoring (not just fixing) other people's tractors. There's potentially more money in service than flipping in such a limited market space. (if you're good enough of course!)

ccaissie · Mar 14, 2014

I hear you. Here in Central Maine, there's a resurgence in small farms, requiring simple versatile equipment for lighter style cultivation.

Agree, specialize along familiar lines. ..IHC/Farmall.

Restoring/maintaining others' tractors is what got me here....just starting out, and beginning to understand what they're all about....

Thanks.

Mike M · Mar 14, 2014

John Deere 3020 4020 are hotter then ever right now. The newer made ones the better. Don't pass up a deal on one needing some work done to it.

Steve@Advance · Mar 14, 2014

Think you're better off restoring/repairing what people bring to you. If nothing else, sentimental value. As you see on here, many people want to keep grandpas tractor, just because it was grandpas.

Ever watch American Restoration? The prices he hits those people with... And they pay it because it means something to them.

Wish some of those people would come my way!

CDN 400 · Mar 14, 2014

I have tried what you want to do and here's what I've found.Buy stuff that you know sells or you know someone is looking for a certain model.Go over them make sure they work well fix any major problems and sell them.Unless your a good body man and painter don't waist your time painting them they look a lot worse when they are half a$$ed and not only that it takes way to long to do a good job and thats time waisted when you could be working on someone elses tractor.Keep in mind theres no better money than fixing someone elses iron, other than parts you have minimum investment.

ccaissie · Mar 14, 2014

I can see where the whole fancy paint thing is a showstopper. A bad paint job just makes me wonder what else is wrong with it....

Like too much perfume on a gal.

Thanks for the info...I know the repair of others' stuff is ok money...maybe the best deal in the long run.

David G · Mar 14, 2014

The only advice I would give is do NOT expect to make money at it, do it because you enjoy it. Most of the time you lose money.

RodinNS · Mar 14, 2014

My advice to you, in spite of what you stated... is don't.
That said... if you're going to... you need to learn what stuff sells for in your area, what it's worth, etc. Then you need to buy them right. That means recognising what's wrong with an auction tractor, what it needs, fairly accurately pricing the job on the spot so you know what you can afford to put into it and what you can get from it. The numbers on making that work are not skewed to your advantage. Just don't get yourself trapped in the hole where you pay 3k for some old heap, dump 4k into it and find out you still have a 5k tractor because that's what they're worth at the time. You really need to know how to steal an auction tractor and when to walk away.
Fixing somebody else's junk is a lot easier deal. They own it. They buy the parts. They pay you. They stop when they want to.

Rod

ccaissie · Mar 14, 2014

Well said...I get it.

Mike M · Mar 14, 2014

I watch that show and think if I could of gotten away with those prices when I was trying to fix up peoples junk I'd be RICH !
I can't believe what he estimates some of that stuff at and the people still go for it !
Last one came to mind was the mini corvette for $ 15,000. My first thought was I'd go buy a real one !

Alan K · Mar 14, 2014

...too much perfume on a gal.... lol that is funny.

Anonymous-0 · Mar 14, 2014

The tractors you mention are all low dollar common tractors.Not worth much even restored.John deeres are about the only tractors with a resale value.

RandyB(MI) · Mar 14, 2014

You will have to know your market and know/learn the brands/models you intend to offer that market and then the hard part...finding GOOD iron that you aren't going to have to apologize for when selling. One thing you will learn real fast is that auctions are for selling and not buying. Anything worthwhile at auction will go too high to make anything on it simply because people who are there to "own" the tractor are going to outbid anyone who is there to flip the tractor. 1970,s tractors are hot right now but after 40+ yrs of farming , 80% are worn out inside and 15% are still being used and that leaves 5% to try and find and buy and still make something on. It can be done but not in the volume you will need to make a living. If just for "vacation/beer" money,go for it. Just don't have to "depend" on that money.I'm retired and I am fussy and I'm lucky if I can find 5 a yr. Trucking expenses are a deal breaker on a lot of them. Any further than 200 mi away eats up a lot of profit. Buyers will come a long way because they are going to "use" the tractor but as a flipper you are really limited.Good luck,go for it. RB

DaninKansas · Mar 14, 2014

The best ones are the ones you buy already done. Buy them right and flip them.

RandyB(MI) · Mar 14, 2014

you nailed it, Dan!

buickanddeere · Mar 14, 2014

(quoted from post at 11:22:38 03/14/14)

Any advice (except DON'T!!!!) appreciated.

Colin

Useable modern tractors with three point hitch, live pto, scv, live hydraulics, a real drawbar and a manufacture that is still in business.
You will make more $$$ with the tractor owner fronting the outlay for the tractor and parts then you just collect payment for your time.
No scouring the country for revivable candidates, not surprises when taking something apart. No customers trying to purchase the refurbished tractor for less than what you paid for it.
So "don't"

Robert Major · Mar 14, 2014

Every body that said don"t bother sad to say it is right. even with newer tractors. I used to do it here. Parts are getting hard to find for something"s/ even newer 15 year old stuff, any in the wrecking yards may have the same problem, with out service tools some stuff can"t be done.
I got a JD here for a customer now 1 shaft is $2000. Parts can take weeks to come, Got a customer with a Landini smashed a hub, nothing available in Canada and we won"t know if it"s in stock in Europe until we order it. I had a 2 month wait for parts for a 2000 year Massey hub that was back ordered, not available in stock on any dealers/ distribution warehouse shelf world wide either
Right now these are my customers problem.
if parts aren"t available/ too expensive I just get paid as far as I am and it gets loaded on a truck and Taken away.
If I own that tractor $15.000 of parts that can or can"t be got is my problem.
Just keep fixin if your good you will never need to advertise and be so busy you need to take on a man or be turning work away.
Regards Robert

showcrop · Mar 14, 2014

A friend that is in the repair business tells me that the people who have money to spend want the compact diesels. He said that he can't make any money buying and selling the old stuff.

ccaissie · Mar 14, 2014

Well shucks, I'm beginning to get the picture. I think I'm gonna stick with what I got....fixin' other's iron. I did have the exact experience with fixing a few old trucks for resale...no money in it...

I humbly accept that speculating on tractors is only for the lucky few.

As y'all say, a good way to go broke.

Thanks, it's been an eye opener.

Clodbuster · Mar 15, 2014

One thing that you really NEED to do is make sure you are getting signed work orders from your customers before beginning any job and don't over extend your own money on customers' parts bills. There are many stories told on here of friends and neighbors that will back out on their repair bills and stick it to you while you hold the unpaid bills for the parts already installed.

Eventually it happens to every mechanic, how you are prepared for it is up to you. I know of someone that once kicked in a door trying to collect on a bill and got arrested for his actions. It was slightly poetic justice as he had left others holding his delinquent bills for work done for him!

oldtanker · Mar 15, 2014

(quoted from post at 19:22:39 03/14/14) Well shucks, I'm beginning to get the picture. I think I'm gonna stick with what I got....fixin' other's iron. I did have the exact experience with fixing a few old trucks for resale...no money in it...

I humbly accept that speculating on tractors is only for the lucky few.

As y'all say, a good way to go broke.

Thanks, it's been an eye opener.

We got a family business here that sells mostly IH stuff. They generally make sure there are no major problems before putting them on the lot. Lot of their customers who buy tractors are weekenders with 10 or so acres. They sell very few tractors to the local population because to turn a profit they are way out there on prices. Most of their sales are implements. Right now about 1/2 of their tractors have been on the lot for more than 2 years.

Rick

NNP · Mar 15, 2014

Just as a hobby, buying beaters cheap, making them better looking working tractors, and then selling-trading for the next project....
I've had the best luck with 54-64 gas Fords in my area.
They sell quickly and have much better features than the earlier N's. (and N's here are overpriced, beaters or already done)
The later 'Blue' Fords are also good, except finding a cheap one to start with is tough and you have the added expenses if the diesel engine components have issues.
You have to find the good deals on barn-hedgerow tractors and move quickly....lots of people like me are looking too.

If you like other brands, for resale to hobby type users, a 3-point hitch is a must.

Exception is John Deere of course. Early JD's, if you find them cheap (HA), and get them freed up and running/moving only.....you can double-triple your money here easily

Best tractor type for restoration/resale?

Member

Member

Well-known Member

Well-known Member

Member

Well-known Member

Well-known Member

Member

Member

Well-known Member

Well-known Member

Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Member

Member

Well-known Member

Member

Similar threads