91 Toyota Land Cruiser Project vehicle

It came to me and asked to be cared for and used for fun off roading!

Fred

I'm in for 2 shares.

Maybe an explanation here is in order.

The reason I don't put the vehicle in my name is that due to my asset base I carry extremely high limits of liability insurance which would put any unusual expense on the project vehicle which in turn would have to be shared by the other minor owners.

The vehicle will be stored at my house and worked on at my house, it's just that I'm leaving for a trip out of the country and can't get the vehicle over here in time. The previous owner said they would keep the vehicle over at their home but I feel obligated to get it out of their driveway as soon as possible. I'm asking one of the minor owners to help pick up the vehicle and store it at their house until I'm back home and then we can bring it over here.

By having any ownership in the vehicle you secure first right of purchase when the vehicle is done, which in the past has been only for the actual dollars spent on the vehicle without any cost for labor.

The reason I maintain controlling interest is to remove the decision making process by committee. If something needs to be done to the vehicle I consult with all the owners for their input and then the decision is made. To my knowledge, there has never been a problem with this area in the past, maybe I'm ignorant in this area and you can enlighten me on any decision I made that someone felt was not in their best interest.

As in the past, once we spend the reserve funds we collect up front for sales tax, registration, insurance and initial fixes to the vehicle, I advance all the funds used for continuing repairs and improvements only to be reimbursed at the time of the sale. This way minor owners aren't asked to participate any further funds during the project time.

In the past with prior project cars, they have all been stored here at my home, I find myself working on it during the week besides Thursday evenings. I don't keep track of the hours anyone spends on the project vehicle as the intent for these projects is multi purpose; guys working together on a common goal, learning about a vehicle as we go. Lots of time has been spent of prior project vehicles by guys who had no financial interest in the vehicle. There has been times when the "profit" has been very little financially but the experience of working together to fix something or figure out a problem has been of greater value. For whatever reason, the same guys seem to be the ones who invest in the vehicles time after time, they must see some value in doing this, you'd have to ask them for their individual reasons.

Matt, if I felt there wasn't some interest and value in do project cars with the guys on Thursday's I'd "can" the idea.

As far as I know, nothing has change on how do do project vehicles from the way we did the first one years ago. Perhaps there is some kind of misunderstanding here too. I'd value and appreciate you input.

Matt, your description of how things have been handled on prior project car doesn't line up with my memory. Again, maybe you can enlighten me on something that happen in the past.

I believe this now will be our 7th or 8th project car, maybe memory fails me but I don't recall you being an owner of any of then in past so I don't understand your complaint about "Where is the incentive to buy into these things anymore".

Matt you have always been a valued help on the Thursday nights you attended, your knowledge and experience have been very helpful to all. I hope there isn't something that was done in the past to trigger this reaction, but if so please let me know so I can clear it up with you.

I value knowing you and your continued friendship.

Thanks,
Fred

First off, sorry for coming off so harsh! It was not my original intent, I'm mainly just questioning some things.

I'm more or less just reading the initial description and wondering what the draw is supposed to be, aside from wanting first "dibs" at purchasing the vehicle later on? I can already show up, work on, and learn about the vehicle without fronting a few hundred bucks.

And with this one specifically it just seems like extra burden has been placed on shareholders from the start. The registration and insurance thing has been the same since the first project Jeep, which is fine, but now someone else also has to get the vehicle home and store it. To me this seems like having to do roles of the person of controlling interest. But I'm trying to understand that timing is not always great and things happen and we are all friends who can help each other out. However, on top of this i would argue that shareholder benefits have possibly decreased. Hear me out in the next paragraph.

Unless I'm mistaken, It seems that the more recent project vehicles have been rushed. By that I mean there was more urgency to get it fixed and sold than to let shareholders take it out on a trip and actually use the thing. Remember the very first project, Rafes old purple ZJ? That was great, we fixed issues, did some modifications, and probably half a dozen people got to take it out and "test" it. I was a shareholder and a high school small group leader during that project and I got to take my boys out on a day trip with it. Show me a picture of the last project XJ on an off road trip? I know of at least one shareholder who wanted to take it out.

And maybe there was some special circumstances prompting this, but it really seemed like it was more about fixing it up and selling it, without giving anyone the chance to use it. Maybe I'm wrong.

And that's really my main concern. That the intentions of the project vehicles are made known to those buying in to them. Because after the last Project XJ it seems the focus was more money making and less about giving shareholders a chance to use it. I understand if a shareholder bought it but that wasn't the case so it's frustrating. And maybe the person who wanted to take it out on a trip didn't make that clear enough? I'm not sure



Again, sorry for coming off strong against you. I know I'm not around as much, which I'm sure is not helping my perspective. I'm just a concerned person who has noticed change since our humble beginnings

Fred, I'm in for at lease one share. I can't seriously commit to Thursday nights until after I retire Nov 1, but after that I had planned on coming around 2-3 x month as shop nights are happening. I figure I can learn some things about the inner workings of Toyota's.

Mike, the BetterlookinTwin !

Was that Steve Risser's Toyota?