AC/DC (LE)
Stern, 2012
AC/DC (Premium)
Stern, 2012
Atlantis
Bally, 1989
Baby Pac-Man
Bally, 1982
Batman Forever
Sega, 1995
Devil Riders
Zaccaria, 1984
Farfalla
Zaccaria, 1983
Guns N' Roses
Data East, 1994Quoted from DreamTR:200+ arcade boards to go with all that
My first board purchase was from you about 3 years ago. Was either a DK Jr or a Frogger, can't remember.
Thanks for not making me buy your whole lot to get my first arcade up and running.
Quoted from rotordave:And I thought I was crazy.
Do you have them all set up somewhere? Must be massive!
rd.
I own Game Galaxy in Nashville, TN. Each location has over 100+ pieces in general...then there are games in my garage and in the house that I won't put on location. Easiest way for me to "collect" without having to find a warehouse where no one can enjoy them. We put our games out for people to play (Free Play, all day rates) to reintroduce classic pinballs and arcades to the public.
Quoted from DreamTR:I own Game Galaxy in Nashville, TN. Each location has over 100+ pieces in general...then there are games in my garage and in the house that I won't put on location. Easiest way for me to "collect" without having to find a warehouse where no one can enjoy them. We put our games out for people to play (Free Play, all day rates) to reintroduce classic pinballs and arcades to the public.
Awesome! I was trying to do the same thing here in Auckland, but the building I wanted for the project didn't work out 
My wife's dream is to go to Dollywood so I'll have to come and check out Game Galaxy soon. 
rd.
Dollywood isn't in Nashville, but it is in Tennessee...I just rented spots...I am sure owning would have been a nightmare in general because of the costs associated with buildings out here and getting them up to codes...
Quoted from DreamTR:Dollywood isn't in Nashville, but it is in Tennessee...
Yeah, but at least it's in the same state. Getting to Tennessee is the first hurdle, once you're there no problems!
Quoted from DreamTR:I just rented spots...I am sure owning would have been a nightmare in general because of the costs associated with buildings out here and getting them up to codes...
The advantage would be that you own the buildings at the end of it.
But I don't know the market in Tennessee .. Could well be that buying isnt a feasible option. Sometimes it's not the way to go. All depends.
rd.
Quoted from rotordave:Yeah, but at least it's in the same state. Getting to Tennessee is the first hurdle, once you're there no problems!
The advantage would be that you own the buildings at the end of it.
But I don't know the market in Tennessee .. Could well be that buying isnt a feasible option. Sometimes it's not the way to go. All depends.
rd.
I could own the building(s) and still be paying property taxes and have no one to go to the place....that's another problem. It is great to "own" a building but you need 100K just for a deposit it seems.
Quoted from DreamTR:I could own the building(s) and still be paying property taxes and have no one to go to the place....that's another problem. It is great to "own" a building but you need 100K just for a deposit it seems.
People often think owning the real estate is an integral part of their long term financial plan. I disagree. If you want to invest in real estate, it should be a consideration completely separate from your business. You can find rent deals that are better than buying. It's not easy to do, but it's possible. What I typically find is that it is cheaper to build new than buy because everyone I know that owns (and sells) commercial RE prices higher than building new.
OTOH, an owner with long vacant location will often lease out below market. It really depends on how much debt the owner has. If his property is mostly paid for, he can afford to give a "better than market" deal.
BTW, if my business fails, I want to walk on the RE rather than being trapped into buying property that doesn't make me money.
Quoted from toyotaboy:I was there last May, nice arcade at a really reasonable price.
10296874_10152656710573465_58152... 62 KB
Cool shirt.
rd.
So what's the status Neo, I'm assuming at this point we are hot in a bidding war jacking the price somewhere between $120-150k?
yea, it's getting pretty ruthless actually. I had to step back and take a breather. Been spending all my time shopping for a new house. 
Quoted from CaptainNeo:yea, it's getting pretty ruthless actually. I had to step back and take a breather. Been spending all my time shopping for a new house.
My question is are you buying the house beside centerflanks? Or are you buying a new house to move closer to him in the WI
I would not want to live out in the middle of nowhere. It's fine for people that never go anywhere, but it's not for me.
Quoted from CaptainNeo:I would not want to live out in the middle of nowhere. It's fine for people that never go anywhere, but it's not for me.
For most, where "we" live is in the middle of nowhere. Just ask my teenage daughter and her friends.
Quoted from FrankJ:For most, where "we" live is in the middle of nowhere. Just ask my teenage daughter and her friends.
well if that's the case. i'm sure you could ask teenagers in the middle of chicago and they would tell you there is nothing to do.
Quoted from TomGWI:Am I too late?
Yes you are, but i'll move you up to the front of the line because I like you. When do you want delivery?
Quoted from TomGWI:Am I too late?
Quoted from CaptainNeo:Toms driving down here right now to look over his new games as I type this.
Looks like Toms wife found out what he was doing and put the kabosh on the situation. Collection is still up for grabs.
Quoted from CaptainNeo:As awesome as it would be to go to denmark, that would be a difficult truck drive.
Really good chocolate there, just saying.
Well, Burlington is "chocolate city" so the chocolate is pretty good there too. For those that don't know, that's where Neo lives.
Neo, are you still listing a "wanted to buy" ad on craigslist? You just can't help yourself can you?
Dave
Quoted from CaptainNeo:Looks like Toms wife found out what he was doing and put the kabosh on the situation. Collection is still up for grabs.
I went to the bank and they were all out of 10s and 20s. They offered me a cashier's check but I just ripped it up right in front of them. I screamed at them, "Neo doesn't roll that way!" and just walked out. Sorry.
I could possibly offer one pig every month and two comely lasses of virtue true for your collection if you are interested.
Let me know.
Quoted from egyptrus:Well, Burlington is "chocolate city" so the chocolate is pretty good there too. For those that don't know, that's where Neo lives.
Neo, are you still listing a "wanted to buy" ad on craigslist? You just can't help yourself can you?
Dave
That's for a specific project.
Quoted from CaptainNeo:umm, no. if you sell the rental property, you give away your income. it's the reason on having rental property in the first place.
You can sell the rental property and hold the note. Than way you only pay taxes on what you get each year. While it's still taxed, it may not be as bad, depending on how much other money you make each year you hold the mortgage.
Robert
Quoted from CaptainNeo:if you sell it, why would you have any involvement with the property from that point on?
As you said earlier, rental property is income. So sell a 250k home and you have an additional 250k income to declare in the year.
Carry the note and you don't have any involvement with the property, except to get a monthly check for the mortgage for 10, 15 or however long you structure the deal.
Taxes will be a lot less. This may not work in your case, but wanted to point that out to you as a possible option.
Robert
Capital gains are taxed at a lower rate than income, but I agree that a Lease/Purchase option structure may provide both the best tax advantage and the most income.
A lot of it depends on the cost basis and prior depreciation. But hey, if you can sell your collection off for a 100 grand tax free, why bother with all this finance nonsense?
But if a guy like me were to buy your collection, you could count on a 1099 because I'm not going to pay your taxes as I sell off the collection.
Certainly you are looking for a unicorn buyer who will not only soak up your tax burden, but be happy to go into his bank and ask for unmarked bills. There are a lot of guys who will be happy to buy into your dream.
Quoted from SadSack:There are a lot of guys who will be happy to buy into your dream.
Where?
Quoted from SadSack:In the land of unicorns and fairy tales.
Wait, what? How did you find out where I live? 
Maybe Ted will trade cigars for the collection
Chris
I keep coming back so I don't miss the point where he splits them up and has to note individual prices.
Quoted from metallik:And if they don't sell... you're fleeing to Cuba to avoid the taxman?
Probably lots of carefully maintained wood rails to be played in Cuba. Bring a sock full of dimes and you should be set for a nice long time!
Quoted from CrazyLevi:HOW IS THIS NOT SOLD?!?!??!!
Thought the same thing. If only I were closer.
Quoted from Bryan_Kelly:Thought the same thing. If only I were closer.
Quoted from SadSack:I'm calling bull on this. Neo said he'd pay the shipping if anyone paid asking price.
Mr Sack, that was sarcasm. He is only one state away and has already done a warehouse raid the size of this collection in another state.
Quoted from RustyLizard:Mr Sack, that was sarcasm. He is only one state away and has already done a warehouse raid the size of this collection in another state.
I guess sarcasm is hard to pick up on in a forum situation. I know I've been ejected from many a thread for it.
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Nashville, TN
Sunshine
Ottawa, ON
Smørum
