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So, I’ll bounce these two ideas off the guys who’s opinions I value

Last fall I was able to grab a building lot in a gated community in Pennsylvania for a song and a dance

I could list the property and current market values, probably net 8-9 grand

My dad and best buddy are telling me to build a house on it and sell it.

My pal said, “you wanna make 10g or 100g?”
My dad says, no risk no reward

I know the payoff can be big if I go big, but it’s a big gamble to invest 200 to sell for 300, what If it doesn’t sell right away….

I mean I’m sure it would as the market for that area has non “new” homes selling for more. But I’m sure you guys know what I mean by being a little nervous


Or, do I just sit on it for a bit??
If you build, it will sell. There is a housing shortage almost everywhere now. You may shat your pants when you see the high cost for building a house today. My daughter's 3 bedroom 2 story house built on her owned lot 3 years ago was $265k to build. That was with a geo thermal heating system. Last year the town valued it at $515K. She also had the garage foundation put in. Last Fall she had the attached 2 car garage built. That 2 stall garage was $85K. Contractors are ripping people off. I told her that she was nuts to have hired tat guy. She said that 3 contractors all had almost the exact same price.
 
Here's a wiring diagram. Do the front parking lamps work?
View attachment 1248001
No parking lights, no dash lights on the heater control knobs or shift indicator. The Radio lights and gauge lights work. The auto light position works. Leaving the light switch in the parking or headlight position when you shut the car off makes the lights on alarm go off. That tells me that the light switch is working. Thanks for the wiring diagram. I will check pin 87 for power. That is the pin that feeds the parking lights. I have no power at the actual parking lights wire coming out of the panel. I did swap out several breakers with #27.
 
If you look at the diagram the parking lamp relay is grounded by the BCM which then closes the contacts and turns on the lights with power from fuse 6. There's a few things that could be wrong. Relay could be bad/swap with same relay to test. Relay pin could be burned. Are the fuse terminals good, not burned? The panel could've shat the bed internally.
 
Speaking of MBs my dad had two of them a 230 and a 250 . Sold the 230 first in the early 2000s . He then sold 250 shortly before he died . I’ll have to say they were both pos very temperamental constantly at the mechanics . He was relieved when the 250 went to a guy in Canada
Most people don’t know that Studebaker was the sole importer of them in the 50s and early 60s . My uncle sold them for a while and refused the brand around 62 . Reason being they were constantly doing warranty work on them . He chose to just sell just the Studebaker line and then took on AMC/Jeep .
Good looking but this was the most common way to see it PARKED :)
IMG_9774.jpeg
 
Forgot to add the 250 was a German model all the gages were in metric . It was brought back by an Air Force officer who was stationed in Germany . He had gone over to Germany with his Mustang which happened to be in an accident while there and totaled . A new Mustang in Germany was the same price as the 250 so he bought the MB.
 
No parking lights, no dash lights on the heater control knobs or shift indicator. The Radio lights and gauge lights work. The auto light position works. Leaving the light switch in the parking or headlight position when you shut the car off makes the lights on alarm go off. That tells me that the light switch is working. Thanks for the wiring diagram. I will check pin 87 for power. That is the pin that feeds the parking lights. I have no power at the actual parking lights wire coming out of the panel. I did swap out several breakers with #27.
Jump pin 30 to 87. The lights should work. If not there's a problem in the basic lighting circuit. If they work it's a problem in the control side of the relay or the relay.

Edit. Or the panel
 
So, I’ll bounce these two ideas off the guys who’s opinions I value

Last fall I was able to grab a building lot in a gated community in Pennsylvania for a song and a dance

I could list the property and current market values, probably net 8-9 grand

My dad and best buddy are telling me to build a house on it and sell it.

My pal said, “you wanna make 10g or 100g?”
My dad says, no risk no reward

I know the payoff can be big if I go big, but it’s a big gamble to invest 200 to sell for 300, what If it doesn’t sell right away….

I mean I’m sure it would as the market for that area has non “new” homes selling for more. But I’m sure you guys know what I mean by being a little nervous


Or, do I just sit on it for a bit??
Do you need the money right now or not? Can you afford to build a home on spec for that price? Can you afford to sit on the home for a few years if the interest rates go up while paying HOA fees if there are some, taxes, upkeep on the home etc? How about building costs? Lumber and other building commodities skyrocketed during Covid raising building costs to the point contractors raised their price to finish or just paid out a non completion penalty as it was less than the material inflation costs and walked off. Can you afford to dump $100k into a house then be left scrambling for someone else to complete it at the new materials cost? Lot's of people do it but only you can decide if you can afford it. Budget it out and include the average sale time of the homes in the community with what it would cost you to keep the home that long plus a buffer in worst case scenario. Building a spec house is a good way to make money but most of the guys I know doing it are contractors themselves so are doing it for cost and can sell cheaper for the same profit others do plus the cash flow to sit on it if they have to.
Say the average time on the market in your community is 2 years and the selling price has to be discounted for the property to move. Average lowering price is $25,000 before sale. It costs you $15,000 a year in taxes, maintenance etc. That $200,000 home you put on the market for $300k just required you to drop it to $275k to move it. $30k plus 6% brokerage fee to sell is $46,500 plus other nonsense so say $47,500. You sat on a house for 2 yrs and made $25,000 which is a good profit but what is the red hot real estate market doing in 2 years? Will your house sell quickly or will you have to wait 3 or more years? Will house prices drop to keep them moving? Did you have to borrow equity in your home or from a 401k to get the deal done? What if another emergency pops up and now you don't have the equity in anything to pay for it? What if your cash flow from your job stops because you broke your leg and can't work for 2 months. Do you have an emergency fund to draw on to keep the bills paid? Don't believe a real estate broker on any of this, they will paint you a happy picture to get your listing.

You only said you paid "a song and a dance" for the lot. If you paid $8,000 for it and sold it for $16,000 that's a 100% profit. Not good enough? It would be for me and I'd take the $16,000, look around and do it again and again and again. Pretty soon your buying $100k property cash and selling for $150 or $200 without risk as you pulled your original $8,000 out long ago, allocated 5 or 10% of the profit to yourself as a "salary" and are now playing with other peoples money. If you lose everything then you still have a nice profit plus your original money in the bank.
 
Been staying at the Crystal Springs resort in Hamburg NJ the last few days . Wife had a corporate job doing her yoga and meditation for the upper management of a large Japan based corporation. Three days in a two room suite all inclusive and what’s nice the company is paying for it . 5229589319780757805.jpeg39112147279724019.jpegIMG_9776.jpeg2407259774102417255.jpeg6649187260741766550.jpeg7306781861751467914.jpegIMG_9782.jpeg
https://www.crystalgolfresort.com/
 
Been staying at the Crystal Springs resort in Hamburg NJ the last few days . Wife had a corporate job doing her yoga and meditation for the upper management of a large Japan based corporation. Three days in a two tool suite all inclusive and what’s nice the company is paying for it . View attachment 1248016View attachment 1248017View attachment 1248018View attachment 1248019View attachment 1248020View attachment 1248021View attachment 1248022
https://www.crystalgolfresort.com/
What tools came with the suite?
 

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