All Forum Posts by: Joe Cummings

1,700 foot rancher on 0.34 acre. Good neighborhood (Bensalem). Good mechanical systems, roof is about 14 years old, but it's a grandma's house. 20 year old bathrooms, even older kitchen, doors and moldings are banged up from electric wheelchair.

I own it outright, and have the cash to rehab it.

Problem is that I may be going into a much bigger commercial project (2 hours away), so I don't have time for a diy rehab. I'll probably have to hire contractors, ugggggg.

Best to just clean it out, or rehab it totally? Something in between?

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Not sure what to say about this. Not good for Baltimore at all.

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The problem is, I feel for the guy and his misfortune. He just laid off about 80 men. Not to mention I saw where he just sold his personal home a couple of years ago and took a bath on the price.

This is a valuable human being, and we run in the same circles, this deal needs to work both ways. Just because he's in a financial bind right now, I'm not going to try to take advantage of him.

Why the F couldn't he have been some "suit" with hands like a woman?

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I wanted to make a low ball offer on a Garage in NE Pa. So when I went up to look at it, the owner met me there. And so did his uncle and his cousin. Well anyway, my family is from Johnstown, and I spent my summers with my cousins in Tioga County.

So the Realtor calls and says he's running late, not to mention we are kinda early. So now this turns into talking shop, general talk about riding dirt bikes in strip mines, sliding down boney piles on old car hoods, and showing scars. Took all of maybe 5 minutes and I was talking a coal-cracker dialect I haven't used in over 30 years. All we're missing is the kraut, sausage, and fried potatos.

Now what? My plan of throwing out a low-ball number and hoping he needs the money is kinda blown.

How the F did this happen? I never really like anyone.

Now what? Anybody else ever have this happen?

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If it's clean, and you load it, haul it and dump it, you can probably get someone to take it for free.

Other than that, good luck,,,,,

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Yeah well keep in mind, scrap prices are in the toilet.

A few years, back I was getting numbers like $350 @ gross ton for loads of #1 heavy melt. Now we are down to like $150 in the Philadelphia market. Prepared and delivered to local mills is only at about $230

What at one time I could pay for, I've now got to charge to take away.

Billy Bob and his drinking buddy in their pickup truck may or may not know this, but when the first load hits the scale, they are going to get educated in a hurry. Then they are going to bail on the job.

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Here's something to think about,

Domestic and foreign issues keep scrap prices low

By John Ambrosia - Trend Analysis - April 20, 2015

Along with April’s mostly sideways markets came another dose of reality for sellers in the ferrous scrap market: Prices are unlikely to rebound strongly anytime soon.“I can’t see an argument for either direction,” one Midwest dealer said. “On the one hand, I don’t see any factors improving sufficiently to drive pricing up. But on the other, I also can’t see any justification for prices to be pushed down anymore. We may be enterting a period of stability, although one where we continue to get hammered due to the low level we’ve been running at.”The two biggest factors continuing to create the suppressed situation are basic supply-and-demand issues – mill capacity utilization rates are low, as is foreign need for ferrous scrap. These two have combined to make a huge divot in 2015 scrap values so far.

The weekly U.S. mill production capacity rate continues to be historically low. In early March, for the first time in nearly two-and-a-half years, it fell below 70 percent and has not moved over that mark for eight weeks now.

At the same time, exports also remain suppressed. U.S. ferrous scrap exports dropped in February to their second-lowest levels in five years. Ferrous scrap exports totaled 984,739 tonnes, down 5.5 percent from more than 1.04 million tonnes in January and 17.8 percent below nearly 1.2 million tonnes shipped abroad in February 2014, the latest U.S. Commerce Department data show.

Export declines continue to affect scrap market

By Bill Beck - Trend Analysis - March 23, 2015

Ferrous scrap exports – specifically the lack of them – continue to have an impact on the North American scrap market.In January, ferrous scrap exports were an anemic 1 million tonnes, the lowest total since last January and on track for a 12-million-tonne year.In 2014, the U.S. exported 15.3 million tonnes of ferrous scrap, the lowest annual tonnage since the down years of 2008-2009. Since topping out at a record 24 million tonnes in 2011, exports have dropped an average of 3 million tonnes a year.

For 2015, that means 9 million tonnes that had flowed overseas in 2011 are now searching for a home in the U.S. market.

At a time when demand at U.S. mills is drying up, that additional 9 million tonnes is a further drag on domestic ferrous scrap prices.

The solution to the malaise that is affecting U.S. scrap exports is a weakened U.S. dollar. But that's unlikely to happen anytime soon. With the Chinese economy showing signs of a dramatic slowdown, and the European Union struggling to jumpstart the EuroZone economy, the U.S. dollar is likely to remain strong for some time to come.

And that means millions of tonnes of ferrous scrap that would have gone to make steel overseas will remain in this country.

So when the seller says you can get some scrap guy to haul it away for free,,,,think again LMAO

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Unless you are buying a chain with a national advertising campaign (Like MCDonalds), or some kind of government issued license that is hard to get (Liquor License) Or even something like mineral rights.

Other than those few things, you're buying a lot of hot air. With most owner operated small business, the owner is the business. That is why most fail when the owner dies.

And "Non Competition Clause" LMFAO, try enforcing that when his cousin opens up the same business a block away.

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I hate him because he is an irritating greasy slimebucket, And he comes on tv in the middle of the night. Then when I try to find the remote, I wake up my GF and she rags at me.

I'd pay $1,000 to watch that azzwhole get run over by a train. $2,000 if I got to drive the train.

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Seriously Kid.

You're 18, take a big bite out of life.

Find yourself a "Fair Maiden" who needs rescuing :)

Believe me, it's something every guy should do .And the education you get is priceless

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All Forum Posts by: Joe Cummings

Joe Cummings has started 32 posts and replied 330 times.

Post: Inherited Home, Rehab or No?

Post: Baltimore, Damn

Post: #$@&^%$ WTF, I Like The Guy

Post: #$@&^%$ WTF, I Like The Guy

Post: Unwanted Dirt - How do you get rid of them?

Post: Demo Jobs? Piles of Obsolete Equipment?

Post: Demo Jobs? Piles of Obsolete Equipment?

Post: Buying A Business

Post: Why does everyone seem to despise Armando montelongo?

Post: What would you do if you were 18?