68 Fastback restoration... Should We delve in?

Need some help deciding if my brother and I should go in on an investment project together. Were looking at a 68 Fastback mustang that has a clean strait body, no rust other than the floor pans that have had seamless proper replacement. Were looking to get this project vehicle for less than $15K.

Has a 302.
Doesn't need motor work that we can tell but if it does everything can be done by us. Were both owners of 65 and 66 mustang coupe. Mine has the 289 and his a strait 6. We've both torn our cars apart before and know every thing about these cars. The only reason we want to get this fastback is because of our combined 30 year experience with mid to late 60's model mustangs. The fastback were looking at also comes with "Shelby Clone" mods that would make it a complete a Shelby clone (w/ a 302 instead of 350) if we decide to use those parts.

We would give it a clean $2-3K paint job, replace all suspension parts, rust proof the undercarriage, Keep the interior as original as possible and replace the seats with original leather from another mustang fastback as well as the door panels, dash... etc. Everything will be refurbished or replaced with original parts from a donor vehicle.

My hesitation and questioning of this restoration process is can there be any $ made?

were looking to make it a "clean daily driver" not a show room resto. We will be restoring from the "ground up" but only parts that need restoring.

Like I said, almost all of the work would be done by us, even prepping the body for paint.

Im all ears and ready for any words on the subject!

 

I would jump into it since you guys can do most if not all the work yourselves. Once I get settled back, I have a good friend who restores GTOs and is willing to show me how to do all the work. His last one, someone offered him $40k.

 

It sounds like a good project. Since your building it as a brothers project, I would lay out the plan and not stray from it. If you're going to make it a daily or weekend driver cool. Just both of you have the same plans laid out. If you wanted for example a weekend racer and he wanted a custom Elinor clone. It will save arguments later. Also, hows the funding going to play out.

That my only concern. That with any project let alone a multi party project.

Best of luck, and post pics if you move forward w the project.

 

Odds are, no, you will not make any money at all. It's always cheaper to buy a built car than build one. A few things I noticed:

1. Shelby clone stuff doesn't bring any extra money, and is almost always a red flag. Those cars get torn apart on the classic Mustang forums.

2. It's a 302 car. Nothing special about it that will give you a potential return on your money. FYI - 350 is a Chevy motor. 351 is a Ford, and even that's not special.

3. You mention $2-3k paint job. That doesn't hardly cover materials for a quality paint job. A good paint job, no prep work, is over $5k. Not to mention the hours you'll put in mudding and blocking, over and over, if you want a quality finish.

I'm not trying to be Debbie Downer, but these things eat your money fast. Suspension, easily $2k. Brakes, another $1k. Steering, $500. Wiring? Another $2k. Before you know it, you're in it for $30k and you'd be lucky to sell it for $25k. I've got over $30k in my '65, doing almost all my own labor except body and paint. I'd be lucky to get $15k for it. The guys that make money either a) buy rare cars that they have the knowledge and funds to fix up right, or b) do such extraordinary work that the car sets itself apart from the rest. Even then, their hourly rate is probably below minimum wage if you calculate it.