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Old July 17th, 2021, 09:23 PM #111
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Originally Posted by TheBert View Post
Why let the government hold your money for a year when you can, if you are disciplined enough, put the money into an investment account and earn +6% interest on it?
I have heard this line of thinking before. I don't necessarily disagree in normal times. This isn't normal times. In my opinion, most people are not disciplined enough to leave it alone. Second, if a high quality fixed income product is paying 6% today, I would be in. In today's low interest rate environment, I highly doubt this level of interest is attainable from a bond.
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Old July 17th, 2021, 09:39 PM #112
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Probably can't save as fast as they are escalating, but guess its same as any large purchase. I have thought of liquidating some things to get a entry level gun.

A1 had a great selection of class III, including some very reasonably priced Thompsons for what they were (not Hurleys).
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Old July 17th, 2021, 09:52 PM #113
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There's a number of ways to pay for one.

I wouldn't trust it as an investment so I'm out of it as I'm not wealthy enough to buy one on a whim.

The problem with treating it as an investment, is they are one bill away from being worthless (at least in the legal sense).

Imagine spending 20K on something and 10 years later the government deems it illegal? Good luck.
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Old July 19th, 2021, 03:55 AM #114
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While the 1% may indeed be only a fraction of Americans, it's more folks than you might think, especially in this area. I know more than a few people that could drop the dough for a transferable machine gun without thinking. Hell, I know a few that have.
Yeap, there are those that are in a different income class from the majority of us.

I met a guy racing sports cars. He had been running basically a Trans Am car. He was spending $50,000 per year for engine rebuilds. And $2,500 per race weekend on tires.

On one trip, I met the pilot and crew of a privately owned jet. They were in Lisbon for 6 days, at over $5000 per day just for crew salary and expenses. Not including parking the jet, paying for the jet, paying for fuel when they went somewhere. Pilot was telling me of taking the daughter and some of her friends in the jet to visit college choices.

Yeap, another world.
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Old July 19th, 2021, 01:46 PM #115
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Man, Thats a whole of of pages of people who have never done it not knowing how to do it.... with a few exceptions.

I bought my first FA around 2006 or so when I was in my mid 20s. I just last week bought my 7th MG (9 purchased, 2 sold). I have a wife, a mortgage, 3 kids not yet teenagers (one with a serious medical condition that costs us a lot of money). No family money. I am an Engineer and wife is a Nurse. I would say we are slightly above average middle class, I would say especially after you consider medical expenses.

As has been noted, people will afford what they want. Excluding the rich and poor, only talking middle class. If you want 80 pistols or 100 CMP Garands, this is not going to work for you. You must really want something like this. Just like any larger purchase, you have to want it enough to save for it!

Being a VP of a MG club, I hear a LOT on this issue. For the most part, few of us in the middle class can afford a MG straight out, even a cheap one. Most of us have to sell some things off to buy a MG. This is the most common method I hear. You look at your collection and say, what do I want less than I want this MG. Everything on that list gets sold! You use your collection to fund the purchase. Hopefully you have bought things that have gone up in value and you can make a profit, but you need to be able to sell off a bit and have that ready when you find the right deal.

You have people that save a bit from every check, you have people who take out personal loans. Some people drop OT money in savings. However I find the selling off stuff as the best method and you can take advantage of inflation in gun prices with it.

Then you wait and watch and you be ready to lay out the money the moment the right deal comes.

Some examples:

A friend bought a FN FNC because he could not afford a M16. He paid $8.5K for it and sold it after shooting it for a few years for $15K. He then bought a $20K M16. This stepped approach really helps as his FNC was going up in value at an even greater rate than the M16 during that period.

I bought a MG08 for $8K with nothing more than a grainy picture. The guns were going for $12K+ and just the sideplate was worth that. At the time I had to sell off several parts kits, like a Vickers, 1910 Maxim and many other parts kits that had gone up in value. I think I also sold a PPK and a few other guns I no longer was crazy about. Lucky for me, it was a nice gun. However I sold that for $15k and bought an even better one for the same price.

Sometimes I would have been better just taking a loan. For the M16, I sold off a bunch of stuff. They were about $12K for a Colt M16 when I started. It took me well over a year to get the funds together and by that times Colts were $20K and I bought a Sendra Conversion M16 for $14.4K.

When I think of stuff I have sold... Number 1 on my list is Parts kits for MGs and other MG parts. Buy for 1 and sell for 2 and keep repeating that until you have enough for a MG. If you are a guy sitting there with 50 pistols... at a $500 average, thats $25K. Selling half will get you a long way. You NEED to be honest with yourself and decide what guns you really want. You can't have them all, you can't keep them all and own MGs as a middle class person. I have sold 2 MGs to up grade. I have sold several guns and lots of parts kits. Buy some things you know you will be able to sell off later with a little profit and enjoy them. When you have enough together, sell them off and buy a MG.

I wrote a thread on MDS about this 11 years ago. Those that took my advice now have a gun worth about $8.5K having paid about $3k for it. https://www.mdshooters.com/showthrea...highlight=Lage

You need to watch the market and see what is a good deal at the time.

This is just the basics. Anyone seriously interested in this topic and looking for real advice is welcome to email me at phiteshe@vt.edu and I will help! I have talked more people into MGs than most and I can help you too. What is my end... well I have a club where you can come shoot and let me have a chance on that trigger!
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Old July 19th, 2021, 02:33 PM #116
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Old July 19th, 2021, 02:49 PM #117
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Quote:
Originally Posted by IMBLITZVT View Post
Man, Thats a whole of of pages of people who have never done it not knowing how to do it.... with a few exceptions.

I bought my first FA around 2006 or so when I was in my mid 20s. I just last week bought my 7th MG (9 purchased, 2 sold). I have a wife, a mortgage, 3 kids not yet teenagers (one with a serious medical condition that costs us a lot of money). No family money. I am an Engineer and wife is a Nurse. I would say we are slightly above average middle class, I would say especially after you consider medical expenses.

As has been noted, people will afford what they want. Excluding the rich and poor, only talking middle class. If you want 80 pistols or 100 CMP Garands, this is not going to work for you. You must really want something like this. Just like any larger purchase, you have to want it enough to save for it!

Being a VP of a MG club, I hear a LOT on this issue. For the most part, few of us in the middle class can afford a MG straight out, even a cheap one. Most of us have to sell some things off to buy a MG. This is the most common method I hear. You look at your collection and say, what do I want less than I want this MG. Everything on that list gets sold! You use your collection to fund the purchase. Hopefully you have bought things that have gone up in value and you can make a profit, but you need to be able to sell off a bit and have that ready when you find the right deal.

You have people that save a bit from every check, you have people who take out personal loans. Some people drop OT money in savings. However I find the selling off stuff as the best method and you can take advantage of inflation in gun prices with it.

Then you wait and watch and you be ready to lay out the money the moment the right deal comes.

Some examples:

A friend bought a FN FNC because he could not afford a M16. He paid $8.5K for it and sold it after shooting it for a few years for $15K. He then bought a $20K M16. This stepped approach really helps as his FNC was going up in value at an even greater rate than the M16 during that period.

I bought a MG08 for $8K with nothing more than a grainy picture. The guns were going for $12K+ and just the sideplate was worth that. At the time I had to sell off several parts kits, like a Vickers, 1910 Maxim and many other parts kits that had gone up in value. I think I also sold a PPK and a few other guns I no longer was crazy about. Lucky for me, it was a nice gun. However I sold that for $15k and bought an even better one for the same price.

Sometimes I would have been better just taking a loan. For the M16, I sold off a bunch of stuff. They were about $12K for a Colt M16 when I started. It took me well over a year to get the funds together and by that times Colts were $20K and I bought a Sendra Conversion M16 for $14.4K.

When I think of stuff I have sold... Number 1 on my list is Parts kits for MGs and other MG parts. Buy for 1 and sell for 2 and keep repeating that until you have enough for a MG. If you are a guy sitting there with 50 pistols... at a $500 average, thats $25K. Selling half will get you a long way. You NEED to be honest with yourself and decide what guns you really want. You can't have them all, you can't keep them all and own MGs as a middle class person. I have sold 2 MGs to up grade. I have sold several guns and lots of parts kits. Buy some things you know you will be able to sell off later with a little profit and enjoy them. When you have enough together, sell them off and buy a MG.

I wrote a thread on MDS about this 11 years ago. Those that took my advice now have a gun worth about $8.5K having paid about $3k for it. https://www.mdshooters.com/showthrea...highlight=Lage

You need to watch the market and see what is a good deal at the time.

This is just the basics. Anyone seriously interested in this topic and looking for real advice is welcome to email me at phiteshe@vt.edu and I will help! I have talked more people into MGs than most and I can help you too. What is my end... well I have a club where you can come shoot and let me have a chance on that trigger!

I know this guy and have seen some of his collection. He will not steer you wrong.
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Old July 19th, 2021, 03:17 PM #118
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I know this guy and have seen some of his collection. He will not steer you wrong.
Thanks man, I appreciate that.

I have 6 MGs now with 1 on the way. In order of buying:

Mac (M11/9)
MG08/15 Erb Sideplate (sold)
MG08/15
MG08 (Sold)
M16 (Rock Island Conversion on a Sendra Receiver)
MG08
Japanese Type 96
Chauchat
Tommy gun Model 1928 (just closed the deal last Wednesday.

The only one of these I paid for with money out of paycheck is the first Mac at $2.5k when I bought it around 2006 or 2007 or so.

Oh and I did forget my don't do list:
1. SBRs or SBSs. People always feel a need to step into the NFA slowly. SBRs are a huge waste of money that people dump 1/3rd or more MG money into and the only difference is a few inches off the barrel length. Skip that, get a MG and you can put any barrel length you want on it.

2. Buy before you shoot. You have one of the best MG clubs around right here in central MD. We will help you and help steer you once we know what you want and your interests are. I have had a member here thank me for letting them shoot my gun because he was about to drop serious money on a gun I had and he ended up not linking MGs without stocks. Tripod guns were just not his thing and he figured it out for free.

3. Lie to yourself. You must be honest with yourself and take the pain. Buying something you don't like is not the way to go. Really think it over and figure out if you want a shooter or something historic or ...etc. Not all guns are for everyone. I loved the MP40 until I shot it. It shoots fine but I did not care for it like I thought I would. It bugs be but buying one and being disappointed is really stupid.

4. Worry about ammo being the real cost. You will shoot more, less often. We don't shoot our MGs every weekend. Sure you will shoot more when you do but you don't drive a Ferrari as a commuter vehicle.

This will take more dedication than most other purchases. You must commit or you will never have one. There are few that are serious gun guys who can't afford a MG. Its not that they can't afford it, its that they are not committed enough to getting one. That is fine but thats the honest reason. Many would rather have 2-3 gun safes full of guns instead of a smaller more expensive collection.
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Old July 19th, 2021, 05:15 PM #119
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I've got 3 I'm pretty happy with... maybe one more in the future, but right now I'm focused on getting my financial house in order to feel better about retirement... I do not want to be carried out of the office... life is more than what you can squeeze in between Friday night and Monday morning.
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Old July 19th, 2021, 05:23 PM #120
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4. Peddle your experimental chemicals elsewhere. You're not injecting them into me.
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