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Thread: Your Shop and the Hereafter??

  1. #41
    Join Date
    Dec 2004
    Location
    East Coast, USA
    Posts
    7,369

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    Quote Originally Posted by Tungsten dipper View Post
    Is that heaven?
    Only if several of the doors are at loading dock height. I'm debating if I want the new industrial sized shop to have living space connected to it, or if I'll have to drive to my shop. I'd prefer to have luxurious spacious living space attached but might have to compromise and drive to my industrial size hobby shop space. We'll have to see what I end up with
    Work hard play hard

  2. #42
    Join Date
    Apr 2003
    Location
    Greenville, SC
    Posts
    73

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    Quote Originally Posted by fixerdave View Post

    David...
    How did you get a picture of my shop?! Well at least you it was taken after I cleaned up and organized!
    My wife will bring in some friends to price and sell the stuff.
    Finding creative ways to turn material into scrap for decades.

    Current Machines:
    South Bend 13 Lathe (being rebuilt)
    Bridgeport Mill (step pully J)
    Garvin 2A horizontal mill
    Ohio 20 shaper
    Harbor Freight 4x6 band saw

  3. #43
    Join Date
    Jul 2005
    Location
    Niagara Frontier
    Posts
    52

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    Quote Originally Posted by JeffKranz View Post
    I also think the muscle car market will disappear in the near future.
    We have had a (basket case) 1970 LT-1 sitting in the garage since 1978...the machine shop was built, in part, with the intention of a full restoration. After 40 years I'm starting to think that maybe...just maybe, this is a project I won't get to.
    This summer might be time to start making more room...maybe...

  4. #44
    Join Date
    Mar 2005
    Location
    Toronto
    Posts
    10,412

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    for you guys who are leaving things to specific people, be very specific and have it in writing. Make a codicil to the will.

    Its the only responsible thing to do, and you're it doing for those you care about enough to leave stuff to.

    My bride works in the estate industry if I can call it that. We've all had or heard personal anecdotes on the collateral family damage from estates; for everyone you hear I hear a 100 of them. If you are not making specific and written bequests, you will be putting those people, who you are trying to do something nice for, into what often becomes very miserable situation. What should be fond memories of nice old such and such leaving them _____ can become instead very unpleasant memories of a bad situation and broken relationships.
    Last edited by Mcgyver; 01-09-2019 at 02:49 PM.
    .

  5. #45
    Join Date
    Oct 2006
    Location
    Victoria BC, Canada
    Posts
    1,061

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    Quote Originally Posted by MikeH View Post
    How did you get a picture of my shop?!...
    Easy... just do a google image search on "best example of a big BEEP workshop full of way too much BEEP stuff that will probably never get used but just BEEP might so the owner is keeping it until BEEEEEEEEEEEEEEEP" and it pops right up. My shop, while meeting most of that criteria, is obviously too small to make the first page.

    David...

  6. #46
    Join Date
    Jan 2014
    Location
    Edmonton Alberta
    Posts
    1,235

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    Quote Originally Posted by dalee100 View Post
    Hi,

    I'll be dead and won't care what happens. They can toss it all in a hole for all I care. Used machine tools are a very bad investment to leave for your family as financial security. 400 acres of farm land will cover that part for my wife and now adult children. Used machines have little value and are more hassle than they are worth even with clear instructions. You want to make it easy on your family, get rid of it all before you die. I've been handing out some items already in an effort to declutter and simplify my life. It feels good to do so.

    I might have one Son-in-law that might have an interest in my machines, but my kids will figure it out with out my help.
    What farm land going for down your way,around here it going for 4500-6000 acre one neighbor sold 40 acres close to the City and got 15 Million.

  7. #47
    Join Date
    Dec 2004
    Location
    East Coast, USA
    Posts
    7,369

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    Quote Originally Posted by Tundra Twin Track View Post
    What farm land going for down your way,around here it going for 4500-6000 acre one neighbor sold 40 acres close to the City and got 15 Million.
    2 acre lots in my town (minimum lot size) go for ~$400K-$500K.
    Work hard play hard

  8. #48
    Join Date
    Mar 2005
    Location
    Toronto
    Posts
    10,412

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    Quote Originally Posted by Tundra Twin Track View Post
    What farm land going for down your way,around here it going for 4500-6000 acre one neighbor sold 40 acres close to the City and got 15 Million.
    north of TO in the path of development, say Markham, but not serviced, i.e. raw land but in the official plan and zoning available 2-4 years out, a million plus an acre. Guys go from being up at 5 for milking 7 days a week decade after decade to having $200MM in the bank and nothing to do, talk about a lifestyle change.
    .

  9. #49
    Join Date
    Jan 2007
    Location
    Minnesoa
    Posts
    1,299

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    Quote Originally Posted by Tundra Twin Track View Post
    What farm land going for down your way,around here it going for 4500-6000 acre one neighbor sold 40 acres close to the City and got 15 Million.
    Hi,

    I'm a long ways from the any city. And the farms are nearly 300 miles apart to boot. One would sell in the $3000-$4000 range, the other $1500 to $2000. It isn't about selling the land, it is renting it out and adding to it. It will be up to the kids to add to it. And we are already making those plans. Hopefully in another generation or two my descendants will hopefully control 1000's of acres.

    Location is even far more important in land values than machine values.
    If you think you understand what is going on, you haven't been paying attention.

  10. #50
    Join Date
    Sep 2009
    Location
    North Central Arkansas
    Posts
    54

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    I am 76 and have been preparing for the time when I will no longer be using my equipment. I have 2 grandsons that I have been showing some simple shop operations on my lathe and mill. So now there is some interest developing there.

    So now I am looking to find some machines for them. I am hoping that if I can find them each a machine, then I will be able to spend a little time with them. And "set the hook" to involve them in a life long hobby.

    John

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