The Wild and Whacky Scrapping Adventures of MattyNoNeck - Page 4

Well this was kinda funny…

Yesterday I was taking a break from dismantling some stuff in the back yard when there was a knock on the door. Hooray! Someone wants to buy the mower or sweeper I have outside for sale!



WRONG!

Turns out, I accidentally stole somebody’s scrap the other day. I saw a freezer next to a dumpster and assumed that it wasn’t in the dumpster because it was heavy. Nope, this guy saw it in the back of my truck and come to confront me about it. Luckily, he was totally cool about it and realized it was a misunderstanding and he just wanted a couple of bucks for it. I had no cash on me due to FINALLY buying that trailer I’ve had my eye on, so I gave him a couple of electric motors I had just pulled from some fans I broke down. But here’s the kicker, he doesn’t have a truck and I do. He’s got a steady supply of scrap from all over town and I don’t. So, looks like we’re going to make some kind of deal and possibly enter in to a partnership. Just gotta work the numbers but this could be real good for both of us. This might work out well after all!

Bonus: Pics of the “new” trailer!







Now I just gotta go through all of the BS at the DMV, ugh… Pretty sure I can register it as homemade but I have to get it weighed first (because there’s REALLY a question of whether or not it’s over 1000 pounds, RIGHT?) and I obviously don’t have receipts for the materials since…well…I didn’t build it. It’s never been on the road from what the guy told me. I’m hoping I can just go to the DMV, tell them I bought it from a guy and that’ll be the end of it.


And I took some pics at the yard yesterday for my business facebook page…but I’ve been wondering about this for a while. Anyone know what this giant pile of material at the back of the yard is?

some sorta earth in the background. sand or small rock by the color. you can see the piles where the trucks were dumping it and the erosion marks on the sides of the pile.
Nice trailer... I dunno looks like she could be close to that 1000 lol good luck at the DMV.

Originally Posted by NHscrapman

some sorta earth in the background. sand or small rock by the color. you can see the piles where the trucks were dumping it and the erosion marks on the sides of the pile.
Nice trailer... I dunno looks like she could be close to that 1000 lol good luck at the DMV.

It looks a little more brown in the pic than it actually is. I'll try and get a better picture when I make my run after work.

And thanks

IMHO you are doing just fine without a partner...save yourself the headache.

Thanks for all the input everyone.

Got the trailer weighed last night, right around 400. I knew it wasn’t going to be anywhere near 1000 but you know how you have to go through the whole song and dance…

As for the partnership, I texted him yesterday to see if he wanted to set something up but I haven’t heard back yet. If I do decide to go through with it, I’m going to lay down the rules and be in control. He doesn’t have a truck, so I’m in the driver seat (literally and figuratively). I’m going to offer a 50/50 split and keep the yard tickets in my name (so that when I want to try and sell myself as a dealer or a peddler, I can have a better history in their computer) and if he doesn’t want it then he can take a hike and I’m no worse off than before. I’m also not going to mix my scrap and his so that there’s no question on who should get what. His scrap, my truck, 50/50.

Will keep you guys/gals posted

Keep in mind Matty if the tickets are in your name so is the paper trail of revenue generated. If you were to get audited you are going to need some documentation as to why there is a difference in the yard report and what you reported.

Originally Posted by KzScrapper

Keep in mind Matty if the tickets are in your name so is the paper trail of revenue generated. If you were to get audited you are going to need some documentation as to why there is a difference in the yard report and what you reported.

I'm keeping records of everything I buy/sell because I DO plan on going legit, forming an LLC and whatnot. I want this to become a legitimate business. And if I split the haul with this guy, I'll keep a record as I'll basically be buying the scrap from him.

Originally Posted by mthomasdev

KZ brings up the very important topic of taxes. If your not staying under the radar, be very careful.

And that actually reminds me...I have to see if Weitsman (or honestly, the other yards too) will do an account with moe or something like that. My girlfriend does runs to the yard as well and I'd like to keep everything under one "name" so to speak

Nothin much goin on today besides picking up my first “big” eWaste lot when I get out of work. 14 towers, a few laptops and a monitor or two. I’m looking forward to it because I really want to put together an eWaste shipment and see how well I can do.

So, since you guys like pictures, here are a few I took of my usual yard when I made a run the other day. Enjoy!









This made me cringe when I saw someone had tossed it in with the shred >.<

Look at THAT yard.. WHOOT! All clean and welcoming.. BAM!!

Ok.. wiping the drool off my chin.. KZ has made EXCELLENT Points.. I +1 Each piece of advice he gave you!

Originally Posted by Sidewinder

Very bad idea from the get go. It may be "His" scrap, but it's YOUR truck, YOUR insurance, YOUR tires/brakes.

Retro hit the nail on the head with how our partnership works. We're clear and concise on EVERY scrap run (As things can change from load to load), and our usual arrangement is 60/40 (60% to the one driving the truck/trailer and 40% for the one being the hired help)

We've not had an issue with that arrangement. It's an open offer, take it or leave it (Unless we both need to use the trucks/trailers, and at that point, more discussions are involved).

But I think 50/50 on something like you're doing is a bad idea.

However, good idea for putting the scrap in your name, to keep things in YOUR field of play.

When I actually proposed the 50/50, he was cool with it and then said take $20 off the top of the haul and give it to me for use of the truck. So say we bring in $100 worth of shred. $20 immediately goes to me and we split the remaining $80 and get $40 each. That ends up at a 60/40 split. And if it's less than that, I get a bigger percentage, basically. Let's say we haul in $60. I get $20 right away and we split the remainder and get $20 each. So I get 40, he gets 20...I total up at 2/3rd cut and he gets a third. Seems to work out in the end IMO. So every run, I get a guaranteed flat rate for use of the truck which I will put right into the gas tank and off to the side for maintenance.

And if we run into a disagreement, I'll walk away. I'm the one in the literal and figurative driver seat.