A Tumbleweeds View of Scrapping - Page 9

Originally Posted by hobo finds

What about all the other good stuff? Are you holding on to the non ferrous? I am glad that the steel price has gone up enough for you to move it. Will you start to stockpile steel again after you have removed all this stuff from the farms? And we should have a contest of how many tons of steel you will bring in!

I am still collecting the non ferrous to cash in when my wife retires. There is enough to pay for a year long vacation for the two of us. I am still income averaging the steel and yes a lot will still be stockpiled. Some of my customers are just happy to have it piled in one location instead of all over the property. The owner of the steel that I have been hauling for the last week just showed me a pile of metal he put into a pile on another section of land that I did not realize he had. In addition he showed me his sons place (passed away 10 years ago) that he wants cleaned up. What was suppose to be a week and half project has turned out to be a month long project.

As far as tonnage, I could not guess. I hauled in four tons Monday and three and a half tons today. I have a trailer full to haul in tomorrow that I guess will be six tons. Not bad for a 2000 F-350 with a 7.2 diesel and a home made built trailer built out of a stock trailer. This is using my skid steer only. When the tractor trailer and loader are put to work, the tonnage will increase. This month is my return to scrapping full time and I have hauled 50 + tons to date. Many new members will not understand that a lot of the weight is #1 #2 steel that was stockpiled. I will provide pictures as soon as my new computer and phone synchronize.

Originally Posted by hobo finds

My guess 240,000 pounds so 120 tons!!!!!!

I will be disappointed if that is all I have.

Its good to have a purpose and a direction. I can see those good relations with you customers is paying off. Income averaging I assume means controlling your income for tax purposes. 73, Mike

Originally Posted by DakotaRog

Raining up there P76...? If its like here, the roads might get a wee soft for a semi load. I'm looking forward to the visuals!!

It is raining and suppose to snow tonight. We have a 7 ton limit per axle which I have five axles that limits the load to 35 tons.

Originally Posted by miked

Its good to have a purpose and a direction. I can see those good relations with you customers is paying off. Income averaging I assume means controlling your income for tax purposes. 73, Mike

Income averaging is actually an investment strategy of investing the same amount month after month or year after year to increase returns over the long term. I have been applying the same strategy in reverse with metal sells. I am selling the estimated weight of metal as is collected month to month. It is not a perfect strategy, but it has worked for me.

Originally Posted by Patriot76

Income averaging is actually an investment strategy of investing the same amount month after month or year after year to increase returns over the long term. I have been applying the same strategy in reverse with metal sells. I am selling the estimated weight of metal as is collected month to month. It is not a perfect strategy, but it has worked for me.

I'm familiar with that type of investment strategy.

I was thinking it might be what my brother does. Each year he stops hauling freight for a month or more during the year to keep him from going over a certain dollar amount because of taxes. He says its better for him to take a month or more off take a vacation and work on up keep maintenance on his truck and trailers. Working more increases his tax burden to the point he is not making much and is wearing out equipment faster.

I like your long term "savings account" for the year long vacation plus retirement. 73, Mike

Originally Posted by hobo finds

Have you been selling your shred or did you hold on to that as well? As prices were so bad...

I add my shred to my unprepared iron and as long as it is not over kill they accept it. To answer your question, I have not been hauling to the yard for the last year and a half so all shred was saved with other metal. The time has been spent cutting iron with liquid oxygen, hunting, and fishing. My next post will share more insight.

The intent is to download pictures from my Samsung S4 to this new computer. Windows 10 does not recognize the phone nor the driver I tried to install.

Now to give an idea of my strategies, I have hauled 12 tons of steel this week already using only home trailers and 2000 1 ton pickup. Two more jobs presented themselves today. There are two heating and cooling companies and a body repair shop that gave me their business. The reward paid was two plus meals of beef for each owner. I picked up a local machine shop today. In addition, more farmers are calling.

Got a phone call from a farmer looking to build a large burn pile out of old tractor rims. I recommended using an old grain bin (I have a ton of them scattered around the county) and he was thrilled with the idea. Put him in touch with the owners to work out a deal. I do not collect anything off these deals other than PR. I did offer to cut it down to the dimensions he needed for a price. I had another request for drags and tail gates from the 1960's or before. Both requests were met and he pick them up at the scrap yard. Some call it turn and burn but I call it lock and load.

Just an update on my progress. This is a picture of the front of my central air conditioning storage area. There are roughly 60 units in the pile and over 15 have been processed. I quit messing with the hot water heaters and the furnaces. They are hauled in whole with big farm machinery so I least I get unprepared price for them.

In another thread it was shared that I would be selling enough metal to purchase a semi tractor trailer. I bought the semi from a neighbor and the trailer via an internet auction. I hauled in enough metal in two weeks to purchase the combination. All of the steel was off my place and never depreciated, so no taxes owed. Still a three man crew, me, myself, and I. Me fires myself everyday, but I rehire everyone.

http://i1277.photobucket.com/albums/...ps28m9zi7x.jpg

Originally Posted by DakotaRog

Now P76 fess up, I think you're having fun (mostly), no...?? What's the old saying, "the difference between men and boys is the size of their toys"...?

Must admit all of my life has been fun and rewarding and only better after I retired and started scrapping. My toys are pretty small so I must be still a boy.

Originally Posted by DakotaRog

Don't sell yourself short! I don't have my own semi-truck so I must be a wee toddler compared to you

I would not have one either if it were not for scrapping. You know the distances I travel and the machinery I haul. My life has been blessed in many ways and retirement has been a great learning opportunity and journey. Every day presents a new challenge so I consider myself a babe in this business.