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Money pit projects/tractors.

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Anonymous-0

Well-known Member
Kind of interested to hear what you guys/gals out there have experienced as far as the biggest money pit/ project tractors you have tackled? Was there ever a point you had to finally let your head talk and not your heart and bail on a project? Just curious?
 
I try to fix em up for work only---just what is needed. put the figures on paper ahead of time might help with the decision and watch out for mission creep. cars and hotrods used to be a different story--i've never been accused of common sense when a muscle car with a big block is concerned.
 
John Deere 3010 Diesel. Don't even know where to start. Always fixed it,always broke down even worse. Gave $3000 for it and in two years had at LEAST another $7500 in it. Best trading day of my life was when I found a jockey with an Oliver 1600 gas and traded him even money.
Only thing that ever came close to the trouble I had with that 3010 and the money I burned trying to make it right was a Farmall 706 Diesel.
 
My 300U, I had over $5500 into it, and I broke the crank. A used crank was over $750, and I needed rods and bearings also. Another $3500? Naw, went out and got a L3400 Kubota. That was a good decision.
 
I had a 1200 Case. I looked at it for 3 years and decided to sell it before it became a money pit. I would of been great to have a restored and fully functional 1200, but thought it would take too much $$$$$$$$$$$$$.
 
I guess I haven't been deep in the pit, but I end up with more into every older tractor I buy than I could get out of it. But I don't buy them for resale, I buy them to use. Problem is it's happened twice now that once I got a tractor fixed up I find another more appropriate for the job!
I bought a nice original WD45 so I could leave a side mounted mower on full time. Then I found a series II D15- much better suited for the job. Now I have a WD45 setting here, of little use to me, with about $1800 worth of rear tires and rims.
 
My LA. Paid a good price for it then started fixing it up as a show tractor before knowing how bad it was. Bought lots of NOS parts then goin out the frame was tweaked. Needed a new frame and front end. Them overpaid for someone to finish it for me as I had moved for work and lost my shop/storage. The gentleman became I'll and let a total idiot work on it and do more damage than good. I am now starting over back at square one. The idiot stole parts and paint from me. If day I am into this LA for close to $6,000 with purchase price and have a machine in pieces. Learned lots of lessons about restoring a tractor for that high price though.
 
Working on one right now a JD 1010 diesel. Spun bearing,3 bent rods,cracked head,pump and injector rebuild,bad steering box,and i haven't ran it yet to find out about what's next.
 
Any pulling tractor turns into one real quick. Buddy of mine bought a 4430 for 13k. Then he bought a 466 engine for it. Hes had to fix everything from the rearend, hydraulics, and the new engines gone out. He also has gone through a couple turbo's (keeps getting bigger ones) but he loves the tractor more than anything so it is worth it to him.

My 1655 is getting pricey. Rear tires, and getting a 3 speed for it were a given.

But I have also got brakes, and a starter. Not a lot to some people but it is when youre trying to pay for college.
 
Not to restore, but just working, a neighbour let me have full use of his IH 584 if I did the maintenance on it. It was a 1970 something tractor, on a dairy all its life. The clock broke with 9000 hours, and I was using it in 2003 or so with about 12,000 hours or so on it by then.

1 hour work = 2 hours of repairs, mostly bad hasty repairs that had been done earlier to get it back for feeding or haying. Laying on my back hammering the goober welded shift linkage, while stuck in low range forward, while blocking the highway crossways was not fun.
 
Several years ago during bean harvest I sent dad and a neighbor to a sale to watch a 720D pony start sell and gave him a number I had in mind. Late in the afternoon they came back so proud they got it bought for what I was thinking. I asked him "well why didnt you drive it home?" It was only a few miles away. He said, this is a exact quote "the engine makes a terrible noise and I was afraid to drive it!" I almost fell over. Before I was done I replaced most everything between the front tires and the pto shaft and its good as new now. I enjoy a good challenge but that was expensive!
bill
 
You have to start with the right attitude---that is if I can get my parts cost and $.05 per hour for my labor, I'm making money. That's about where I am with all of mine, but I've had a ball restoring them.
 
An MF35 with a Standard diesel. People told me this was the most disappointing diesel to ever own, hard to start, smokey, loud, hard to find parts for. I didn't listen. I never rebuilt a diesel before, it looked indistructable, and ended up being exactly what I was warned it would be. After running just a couple months, I needed the battery, then the radiator for another fergie, and now I think the rear wheels and tires should go on my F40 until I can afford new rubber.... so it is now as dead and dismembered as it was before the rebuild. That money could have bought 2 pairs of firestones!!
 
Not to restore or ...but to use.My 1256.pd $6000(in 2000).6 mo.later,inframe-$3500;next year,all hydralics(pump/remotes);next year clutch;next year,mcv and ps pump;nextyear TA;3-4 years.nothing!!next,4 new tires,$2000,this year it needs an injection pump(probally wont get one).Yes,I have though about 'bailing',dumping it,but,you know....I have probally $20,000 in an old tractor with 20,000 hrs.Sheesh!Steve
 
JD 730D paid $5000 for it running & found that PO had put 720D parts in it after putting $8500 in parts getting it right I sold it for $8000 & it still needed paint & tires ...last 2cyl. JD diesel for me !!
 
My jubilee, bought it from a mechanic I had been given the "Good Ol Boy" approval from a few friends. Spit and sputtered a bit when I bought it, rebuilt the carb and did a tune up and it ran great. Lift kinda shuttered and would leak down. Changed trans fluid and found what looked like shot from a shotgun but all different sizes. Oil was thick and redish, pulled lift cover off and found trans case had been cracked and rewelded. The "shot" was actually weld spatter. PO had patched it up good and repainted the tractor to get rid of it. I questioned him about it and of course it all was new to him. Live and learn I guess, Ive not bought one since I didnt check ALL the fluids.
 
Done several tractors of three different colors...they were all money pits to some extent, but the costliest one was the last one, a '51 John Deere G I bought and paid the most for. (I guess I had it coming, I took the seller's word for it's condition and didn't check it out as much as I should have.) It's okay now...kinda my pride and joy.
I enjoyed almost all the tractor work....except the tire replacing...that can be work!
My current projuect is proving to be the least fun and taking more labor and money that I ever anticipated...It's an Avery 28 X 46 all steel threshing machine. I'll "get 'er done", but I don't think I'll ever like usin' it like I thought I would....Oh well, I might be gettin' a little old for this kind of fun.
 
Real bad at the time. 41 Oldsmobile sedan. Spent in 1977, 3500 in engine, 1000 for car. Looked around and realized still needed paint bodywork and upholstery. At that time car was only worth about average of 2500 top condition. Traded off and got skinned some more. Did almost all my own work, too. Rats and goodbye to Olds 41. Dave
 
During the Second World War my Grandfather bought a Twin City 21-32 at an auction. He took it to the local MM dealer to have some things done to it. My father worked there after school and he did the work on the Twin City. My mother would come in with her father to check on it from time to time. This is how my parents met. I spent ten years "looking for and talking with" to get it bought.

New tires $700.00
New Fenders 800.00
Correct Seat 100.00
Re-core Radiator 400.00
Engine Over Haul 500.00
Grind Valves 200.00
Overhaul Mag. 200.00
Brake pads 10.00
Rebuild Gas Tank 250.00
Primer & Paint 150.00
Oil –Trans & Motor 50.00
Rear Axle Seals 50.00
Make new hood 100.00
Plus countless late night hours in the shop.

Seeing my parents faces the first time my Grandfathers 1935 Twin City 21-32 came to life …
PLICELESS!
Everything else is only money.
 
This winter I bought a 175 Massey diesel that will probably be a money pit by the time I'm done with it. I'll keep you posted. Jim
 
I bought a Grand Cherokee for 2500.00, 1000 miles later it needed a tranny,(2500.00) then the constant velocity joint went bad(1000.00) front and rear brakes and rotors (200.00)and then it spent FIVE DAYS at the shop trying to find a bad ground wire in the computer system.(only charged me 500.00) and it is setting in the driveway right now with a bad crank sensor.
 
I just put $10,000 into a White 2-70. It needed an engine overhaul. Had the head rebuilt and decided to put in new injectors instead of trying to rebuild the old ones. Had the pump redone. Had the radiator recored. Figured since the engine was out, let's do the clutch which was 2/3 worn. In doing that, found that the 3-speed was leaking. So that got redone.
I like the tractor for what I do with it, and it already did more than enough work to pay off its original purchase price. $10,000 won't buy much of a 70 HP tractor around here . . . probably still would have spent almost as much on repairs. Should last a long time now and I know what I have.
 
not a tractor but 1964 International pickup. Did almost everything to it, costing me 4 times the purchase price & still might or might not get me there & wouldn't bring me back! Finally gave it away to a guy I disliked strongly. Made me as a mechanic but broke me as a man.
 
Closest I came was with a Deere 820. It needed a rear axle bearing, and the farther I went, the more problems I found. I finally quit looking. Had some fun with it, but sold it when I decided that I didn't much like two cylinder Deeres. Didn't lose any money, but I sure could have.
 
Just put this somewhere else. I didn't have any luck with turd hearsts. Bought an old NI first, and after a year part of the frame holding the axle rotted out and broke. Used a neighbors' spreader to finish hauling manure that year. Then I bought a JD 40, the one with the logging chain apron. It lasted about two years before the thing hogged one day going into a field with a load on. The whole back end from the axle back started to fall off. Then I bought an Oliver. Nice looking machine, but the apron chain was so worn out that the links came apart on the second load ( the first was only half full just to see if the back end was working properly). Then I bought a NI tandem. Looked to be in pretty fair shape. Almost new apron chain and the beater was in decent shape. But someone hadn't cleaned off the jackshaft on the apron chain forever and it was only about 1/2" thick where it came out of the gearbox. It sheared off soon after I got it. So, I took the gearbox off, tore it down and tried to press the shaft out of the drive gear. That's when the drive gear broke. Checking on prices for a new gear and shaft quickly added up to almost twice what I paid for the spreader. I had a buddy braze the gear back together, put the gear box back in, welded the shaft back together, ran a couple of light loads thru it, gave it half a wash job and took it to a sale. I got $100 more than I paid for it and went out and bought a new one, which I've had for about fifteen years. Besides some worn paint and beaters, it looks and operates like a new machine, but it gets a good cleaning and grease job every time it's used. I just got the $--ts of working on the used ones---
 
yep, bought a boat.

Quickly found out the finish is put in the mold before the body is made. Almost impossible to make a repair that is not obivious.

Anything with the would "Marine" attached to it raises the price by 300%.

Marine grade plywood rots at the same rate as normal plywood.

Out drive plus sand equals about $800.

Draining the engine of water and storing it over the winter in freezing temps is a sure fire way to spend $1800 on a used motor.

Oh and its cost about half to trailer it around to the other side of the lake vs driving it straight across.
 
I own the area's most expensive H Farmall. I bought it in 2003 for $800.00. It was a rusted hulk. New tires all around, rebuilt motor, new lights, new wiring, new seat, new paint, new this, new that. The total is somewhere north of $6000.00.

Why would I do such a dumb financial thing?

It was the tractor that dad bought in 1950 and I was 13 yrs old when I drove it home. I happened to find it after it was sold in 1980 when Dad retired from farming. The 2nd owner abused it.

I still get goose bumps when I start it up and emotionally feel young again, even though I'm supposed to be 75 now. One of my biggest thrills was when Red Power magazine put it on the cover of their 2005 May/June issue...my gosh that was exciting!

All that money I poured into it? Worth every darned cent!

I've owned other tractors, but they are just tractors to me.
LA in WI
 
Amateur. You want a money pit, get a crawler tractor. Rebuilt engine from stump through oil pan $7000. Re-cored rad $1100. New undercarriage $8000. Then there's the replacement hoses and hydraulic fluid when the hoses blow. Have a decent machine now but you never know when something will go haywire and this is only a 65 HP machine. I'd hate to have a 150+ HP machine to keep working.
 
Wife took care her dad for 2 years before he died. So when he died they gave her his pickup. 89 GMC he bought brand new. Was 12 years old with 30,000 miles on it. I now have 70,000 miles on it but have put a new 350 in it once and a tranny rebuild twice. Now the body is rusting out and got quote of 1,500 to fix and paint the bad spots. All that money in a 23 year old truck that is maybe worth 1,500. But what can I do? She wants to keep it because it was her dads and I can appreciate that.
 
How dare you call me an amachewer. I'm a pro. Just bought an HD7GB. Cost me $500. Track pads don't look too bad, but the adjusters are all the way out. Hasn't been started in 15 years. So far I've drained about three gallons of antifreeze outta the crankcase, and juiced the tracks down to try to tug it, which didn't work because the ground is greasy with melted frost. The battery groundis bad or we might have tried to spin it the other day, but it burned the end off when we tried. Look on the crawler post under 'HD7GB' for some pictures and the story so far. Right now I gotta figure out if I've got a hole in a liner, o-ring or head gasket to get some use out of it before scrapping the thing. I ain't no rookie.
 
Most recent one I can think of is my Eicher 241. Doesn't really count as a antique (1995) but it is most definately a collectible (I think it may be the only one in the US).

Bought it used in India in late August and turned it over to the shipper along with enough household goods to fill a 40 foot container. Shipper had his head in a dark warm place when he tied it down in the container (3/8 cable through the rims). Of course it wasn't tied when it arrived after rolling over our dining room table etc. Then due to lack of documentation the whole container sat in Minneapolis for a month at a cost of about $5000. Add that to the furniture repairs and we have a pretty spendy toy.

jt
 
Grandads W W2 age Case S C . I was with dad & gramp when he bought it in 44? Dad inherited it a few yrs latter . I bought it from a salvage yd about 20 yrs ago . It has set outside with the spark plugs out for about 30+ yrs . Bought a 'donor' SC for $500. That was just the start of the spending spree. Not upset with the cost , as I started driving it in 1947? It is in the shop now, Hope to complete it this spring. Waiting to drive it before I am not able. Tons of memories on that seat. clint
 
Never have really but have a couple tractors that Mega $$$ was poured into by the Previous Owners and then I bought them for less then they had in parts much less the labor.
 
Almost a tractor.

A 1962 IH Scout. Parts are few and far between, when you can find them they are expensive (new or used). I thought I found a winner when I bought one for $500 with no rust in the floor. Still in my shop, still slowly being worked on.
 
Bought a Massey-Ferguson 175Diesel, do-it-yourself kit. The motor was apart because it had run out of oil and spun a rod bearing.

Crank turned, bearings, gaskets, and put it to work.

Pushed the throw out bearing through the clutch,new bearing, new fingers, new disk.

PTO quit, new PTO clutch, new PTO brake disk, new auxiliary hydraulic pump, gaskets, etc.

PTO brake disk broke, disk, gaskets, oil, etc.

Head gasket.

Head gasket again, gasket, new valves, head surfaced, new head bolts @$10 EACH.

~!!@#$Head gasket again!!!! Bad injector= partial hydraulic lock= blown head gasket. Rebuild injectors, pistons, sleeves, bearings, gaskets, etc.,etc.

Discouraged and depressed, bought the parts and then let it all sit for five years, got it back together last fall, and now it needs a power steering pump, and brakes, and there i9s a bad oil leak from the front of the transmission.

I have spent more money in repairs on this tractor than on all seven of my others, not counting the two that went swimming last fall, and have gotten a lot less use out of it.
 
Bought this tractor for $650, this is the after picture, Thinking it wouldn't take much to fix it up. I got it home and checked all the fluids and went for a ride and spun a bearing within 5 minutes.
I use it for hayrides. I didn't really realize what it cost to recondition one of these and ended up with about $7k spent + i do all my own wrenching. Considered several times to quit before it was done. I'm glad I got it finished, I sure enjoy using it.
a60735.jpg
 
(quoted from post at 20:53:23 01/30/12) An MF35 with a Standard diesel. People told me this was the most disappointing diesel to ever own, hard to start, smokey, loud, hard to find parts for. I didn't listen. I never rebuilt a diesel before, it looked indistructable, and ended up being exactly what I was warned it would be. After running just a couple months, I needed the battery, then the radiator for another fergie, and now I think the rear wheels and tires should go on my F40 until I can afford new rubber.... so it is now as dead and dismembered as it was before the rebuild. That money could have bought 2 pairs of firestones!!
Click to expand...
My 1961 MF35 (with a Perkins) has also been a pit (of sorts)... I paid $3500 for it (in running condition w/5' brush mower)... I [i:209204ec8b]thought[/i:209204ec8b] I got a pretty good deal... Less than 10 hours later (after re-working the electrics and buying some 'stuff' for the 3-point and mower), I've got about $5000 in it and it is puking trans/hydro fluid out the front inspection plate (we're talking gallons/minute)... Oh, and both clutches are slipping... So now it's got to be split and new clutches and transmission seals installed... I don't have the time or equipment to do this myself... I shudder to think what I'll have to pay between now and mowing season (which, according to the way the weather has been lately, is only a few weeks away)...
P.S. It also needs new rims/tubes on the front and the steering is pretty sloppy... :oops: On the plus side (knock on wood), the engine seems to be running just fine... *fingers crossed* I already have one dead, kudzu covered, tractor on the property... I [b:209204ec8b]don't[/b:209204ec8b] need two! :lol:
 
These stories make me feel better about my cockshutt 40 diesel. Paint is just good enough and decals look fair so no paint as their only origional once. Grew up with coop-cockshutt later going green. Started with case on my farm as price was right. Puller loader and several others are case. Time to get back to tractor of youth!! Got couple of 30 co-op redone to cockshutt found a 20 way down south. All these were normal redoes. no suprises. OK Found a cockshutt 40 diesel nonrunner as pump was off and in a box. Paid too much and also too much for 3 botton cockshutt plow, but got to have the full set!! Hey anybody got an E 5 or 50 for sale??? Fellow on this site volunteered to rebuild the pump. I sincerely appreciats his work, however after almost 2 years of waiting we discovered pump is not worth rebuild. Just bought working core from oliver 88 with hole in block. Sent to diesel rebuild shop to check it out. I do want it right and corect pressure to statr and run well . However maybe the tractors are not as important as the friends we make on the journey!!! John S the late tom G tom r casr nuty gold leaf deere Matt ind and many others come to mind
 
Pretty much any tractor project I do turns into a money pit. Seems like once you take a wrench to them there is no end in sight.
 
I bought a ford 950 one time that was 'cheap'.. and by the time I got it nice looking, it cost about 4x the buying price. had parts from about 7 different parts tractors on it.. :)

soundguy
 
8n that i bought from a "friend" sight unseen,so far i have not found one single piece,and i seriously mean not one, that isnt either broken or worn out 40 years ago!I'm slowly rebuilding it,but ive already got more in it than i could ever get out of it,wont live long enough to work it out.but it keeps me with plenty to do,when i need to get out of the house!LOL
 
I had two.

MH 444 no matter what I did that tractor was always leaking something. Sold it to pay tuition.

IH Farmall 706 I had under a mounted picker. Found a blown head gasket shortly after buying it, then found a burnt valve, fixed a fuel leak, then it decided to short itself out and have a melt down in the field. Got it running enough to sell.
 
Not a tractor, but a money pit's a money pit.

Looking at a new (for me) car a year ago. I buy 10 year old luxury cars with about 100K on them, run them to about 225K, then get another. Usually pay between 3 and 4 K, sell for about a thousand after 4 or 5 years, has worked great for me so far. Started when kids moved out so van no longer needed.

Found a 2001 Buick Park Avenue at a dealer- marked down from 4K to 3K because radio and power seat didn't work- they thought it was a module of some kind and didn't want to fix it. I got 'em down to $2,500, which was a steal, for as nice a car as it is. Just as I suspected, this long time GM dealer apparently didn't know there was a third fuse box under the back seat, and the problem was just a fuse.

So I was pretty proud of myself. Then in about August, intake manifold cracked, and it apparently hydro-locked. Got that fixed, plus new starter and a couple other things, $1,400.

September- drove across the state and back, transmission died, got my nephew to rescue me with his trailer and winch, rebuilt transmission about $3 grand.

While test driving after installation of the new transmission, engine spun a bearing. My mechanic had no explanation other than the possibility that it tweaked a rod a little bit when it hydrolocked. He felt sorry for me by now, found a good used engine, bought and installed it for $1,000. I gave him a gift certificate to his favorite restaurant for Christmas.

Gotta say, while knocking on wood, that it sure runs nice now. If I keep it to about 500K, will get my money's worth!
 
Every one I restore I end up with 2 to 3 times more in it than it's worth. The last one was a early 47 A JD. I now have $8000 in a $3500 tractor. But it shore runs good and is perty. I don't plan on selling them. So with fixing everything right the first, my kids and their kids will enjoy them hassle free for many years to come.

I have a feeling my JD 4000 diesel user tractor is going to be a money pit to get it to showroom condition. Parts cost for those are almost unbearable.
 
Allis B with Woods belly mower, ran 1 year, has a miss, found bad head, broken pressure plate, took off the mower, both finals cracked, etc. I took me 3 tractors to get enough uncracked castings to get it right. Only good thing is that it'll be sweet when I'm done - about $4500 worth of work on a $2000 tractor.

Oh, and there were a few parts left for the other B - the last tractor my Dad bought. It's no longer metaflake red, and the added on hydraulics no longer bounce on the side of the motor. And now that the motor's unlocked I can rering it and reshim the axles and mount that snow plow in a way that actually works...
Case 430 diesel, paid $3500, use it to mow the lawn and a little light work in the dirt, then $4300 in rear end and trans work. Needs a pump now and not gonna happen this year.
Oliver S55,2 of them, 1 beyond my skill and the other running with a patch bolted on wehre #4 had come out the side. First tractor I ever painted, broke even asl long as no one counts my time.
87 Chevy diesel, fuel saved $ is just about equal to repairs... but now it needs axle work and a new fuel system....
Good thing wrenching is my stress relief.
 
Oh, yeah! I forgot about the H. It's currently parked out back, partially disassembled. I paid $600 for it years ago. I found out that once upon a time, it must've had a loader on it. Got the worn steering working right and not leaking any oil, fixed the busted front wheel center and put in new wheel bearings. Have new clutch, rear wheel seals and brakes waiting in boxes. Head and water pump need to be rebuilt. I'm scared to pull the head, because I'm sure I'll end up doing an overhaul.
 
an interesting read... I'll be positive here, which is against my nature.
Yes, at times I've spent lot$ on my machines.....BBBBUUUUTTTT, they sure paid for themselves, moving all that heavy stuff. Dirt, sand, rocks, tilling, plowing, DIGGING....AHHHH digging! hate digging!.... couldn't have got it all done without them!

I even loved working on them! It would have been nice to have had a warm cozy shop, but how else do you become "one with nature", spilling half a gallon of Hyd oil in your eyes :roll: you didn't see coming because the icy wind blew half a pound of sand in them? :roll: Yes, a labor of love....

Thanks for the memories FORD and CASE.... You did YOUR fair share and then some!
sl

P.S. glad they were boats!
 
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