New to the site, but not BMWs (Also have an E30 and E46). Back in December, I managed to pick up a 3.0 E53 for $500. Yes, $500.00 USD. lol The previous owner blew the motor, so all it needed was a new engine and other various components. She had another X5 and was quick to sell this one because it was sitting for almost 2 years. Managed to source a used engine from an E39 and completely overhauled the cooling, CCV, and belt drive system. It was a lot of work but I feel that it was worth it.
I just got done buttoning her up last week and have been scooting it around the parking lot at work until I'm finally ready to use it as a daily driver (currently using my E30 as my wife uses the E46 since she works one city over). I have been reading and searching as much as I can on the site to see any common issues. Looking forward to being a member on here!