Is it wrong to make profit from a friend??

And the good/Shitty Karma balance of the universe tips towards the good.
Paul

 

I don't see a problem if you paid his asking price.

 

You know your friend better than anyone here. I have friends that would see it as a bussiness deal no problems, and other friends than may not be my friends after I made a profit off them. Me personaly if a friend of mine sold the car right away I would be pissed, but if they fixed it, and drove and enjoyed it for a while then sold it for what it was worth to pay for thier next project more power to them. Money can be a touchy thing when it comes to friends and family.

 

Make a reasonable profit (Always !)... After all is said and done, we answer for our DEEDS , and by the looks of things pretty soon....Greed abounds these days. Example; a fella over in Illinois had an good old brown 32 Ford Gasser for sale for a year or so in the low ( $ 30 Thousands ), I believe....It finally sold, (Probably for a lot LESS ) an now it is For Sale for $72,500....Most likely the buyer isn't a friend of the seller BUT...Only greed would spurn someone to ask over double what he paid for something that the first guy couldn't sell for 1/2 the new asking price and having FER SALE for a very long time .....

 

Don't forget to add in your time. A 50/50 split on profit might be unfair to you. But giving him something makes you a good friend.

 

So your paying $800, how much of that is profit to him?

 

I'm not seeing the problem if you put a bunch of work into it and drive it for a while and just don' buy it an flip it.
But if you do well on it like you think you will and who actually knows about that before the fact, take him and his lady out for a nice dinner or do something else nice for him. It sounds like you are going to put more in the car than you paid him for it before you actually plan to sell it so that alone would equal things out a bit.

 

Tell him what you are going to do and offer it back to him for what you have in it. If he says no then you are good to go.
j

 

BEFORE you do any work.

 

I have a whole pile of cars I'll sell cheap to you guys who want to split the profit after they're done.

Buying things cheap and selling them for more is all American basic Capitalism. You buy the car, you fix it up, you do the work to sell it, you earned that profit all by yourself. No different than if you went to work at the auto plant and put the same fender on 100 cars a day.

Only the people who think all money belongs to everyone and is handed out of some giant pile someplace think profit is evil, or that by making one you're somehow screwing over other people. They're not hard to spot because they act pissed off that you're making money - I suppose it's not their fault no one ever taught them to think logicially instead of emotionally. Frankly, fuck 'em if they don't like it, I sleep better with my wallet full.

 

Talk to your friend before you sell it . See where he stands with the deal. Then make your decision.

 

This guy has it figured out.

 

(Another Larry David moment....)

Probably not, but it depends:

1) Why didn't you tell him of the car's supposed worth before you bought it?


2) Why did he sell it to you for so cheap, and what did he get it for?

 

Got any pics of the $800 car? Unless the market has drasticaly changed,you both might just be splitting a spaghetti dinner. 65 Newports got to be really nice to bring $5,000 to $6,000.

 

Couldn't agree more. In addition, if I were your feind and found out you sold it at a profit I'd say "good for you, no hard feelings" BUT if you showed up at my door sharing your profit I'd know I have the highest caliber of friends! That would mean a hell of a lot more to me then the money.

Nothing means more to me then family and friends!

 

It boils down to your values, and what your friend believed your intentions with this car was and from what has been said on your post only you and he knows, so everybody elses opinion on this matter will be biased towards their beliefs. When 90% of america is into the capitalistic way of life it is hard not to follow suit.

 

Think about this.

^^^ like he says everyone wins . There is good deals on cars everywhere but true friends are hard to find.

 

Hahaha!

 

This says it all

 

the words money and friends should never be used in the same sentence.

 

Follow your conscience. If you buy the car, fix it up and resell it, I would subtract my costs and labor and considering splitting some of the profit with a really good friend. Of course, at this point, he has sold the car-and you haven't.

 

if he gave you a deal when he sold it to you that he wouldn't have given anyone else, and you were just looking to flip it, then maybe it would be wrong.
but if you're putting time/money/effort into it, then no.
see what he thinks about it, then you'll know for sure.

 

i've been in that situation selling parts. i had a running chevy 400 short block, with new cam, lifters and timing set. the cylinders were in good shape, it didn't smoke and ran pretty well, but it was tired. all it needed was a quick going through, but i got a killer deal on my current motor, so i decided not to invest any more money into the 400.
well i offered it up for sale on a public forum for a DAMN good price, and a friend contacted me about it. he offered me half what i was asking and i turned him down. he's been giving me the cold shoulder ever since. another guy i know (and HAMB member) bought it for my asking price in short order.
moral of the story: people will try to get over on you if they can, even those you considered friends. but, never let money come between a true friendship.

 

I bought two cars from a friend of mine for what he had in them. Before I made the deal I told him my plans were to flip/part the cars and that I knew I would make money off them and told him I did not want that to be an issue. He said no worries and we shook on it. I sold one of the cars for much more than what I paid for it. When I got paid, I gave him a little $$$ and told him to take his wife to a nice dinner (she wanted the cars out of the driveway to begin with!). The deal helped me when I was unemplyed, helped him out...win win.

 

How much is a true friend worth? Give him all the profit. Life is not about making a few bucks that will be gone in a short time anyway.

 

So, I'm in this deal on a car. A good friend wants it and I'm selling it for a commission. My end is well worth my trouble to a stranger and I have a bottom dollar so that I make something no matter who gets it. Not my car, my job to sell. Will I be fuckin my friend by making my money?

I bought a car from a friend for a song. He set the price, I'm just gonna flip it and he knows it. I end up flipping it for more than I anticipated, a home run really. Did I fuck him?

I have a part that I have nothing in. I'm damn near paid for taking it but it has good value, say $700. I sell it to my friend for his car for $550. Did I fuck him?

I never did get where being a friend means your knowledge, talent, time, and cars/parts are worthless. Most of my friends would be more insulted knowing I gave them something that they could afford to buy, or if they knew I dropped my commission off of the sale of something. I have to make a living like everyone else, including my friends. The way I see it, it's about mutual respect. I know the mindset of just bailing on something for dirt cheap. Just get rid of it, enough's enough. Sometimes you get to end up on the good side of those gigs. No harm, no foul.

 

if you lost money would you ask him for the difference? drive it, fix it, sell it. give him a little as said but never let money get in the way of a good friendship.

 

This is a ridiculous topic.

You bought the car and you paid what he asked.

I mean...did he ask you what it was worth and you said....$800?

I know ..... hold his hand.......give him a hug.........tell him what he means to

you.......

when you sell the car buy him a 12 pack and stick around to drink it with him


I can just see the thread now......

I sold that car and made money on it, then I took my friend a 12 pack, he got a phone call while we were drinking the beers, I drank like 6 of the beers, should I get him another 12 pack?

Bottom line, you know yourself and he is your friend. If you feel wrong, make it right. Leave us out of it.

 

you paid his ask and the car is yours now so you should feel free to do as you wish with it. if you make a profit then that is capitalism pure and simple!!!!

 

It might be tough to pull 6k for a newport even though it's a low mile 2 door 383 car, I'll get some pics up later. Regardless, a profit will be made though. he paid 1500 from the original owner about a year ago, the starter went out and he parked it. He's selling it to me for 800 because it's not drivable right now, told him I'd pay the 1,500 if it was drivable, but he wants it gone without putting work into it.