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i saw a add (http://www.dreambike.com/home.htm)recently for custom bikes online and i thought i know how to do this to bikes i already own so this is a great project if you have alot of bikes lying around you could make a nice mountain bike to take a long stroll through a nature trail or a BMX bike for jumping and heavy use many great ways to enjoy the out doors 

Materials:
1. Old bikes
2. Assorted Allen wrenches 
3.hammer or mallet
4. Flat head screw driver
5. Wrenches 
6.pliers 
7. Primer and spray paint of your choice 

Step 1: Taking Off the Wheels and Seat

This process is very simple all you do is loosen the two outer bolts and the front tire will slide right off, the bike tire will be free but you need to take the chain off the sprocket allowing space to get the chain off the tire, the seat you either flip a lever thing or loosen a couple of bolts then the seat comes off if you use a hammer you can tap on the clamp and it will slide off

Step 2: Taking Off the Chain

All you need to do is find the master link (pictured) and use pliers to pop the clamp off and the chain will come off the frame. CAUTION do not lose the link

Step 3: Taking Off the Handle Bars

Another easy step, all you do is find the right size Allen wrench and loosen the bolts(normally 4 bolts) that are pictures on the gooseneck

Step 4: Taking Off the Brakes/gear Changer

Brakes aren't always needed in BMX but I suggest having them, to take them off loosen the bolt that are part of the braking system, and they'll come right of, its pretty simple. For the mountain bike it will typically have gears up have to use the same size sprocket system that's set up for your gear ratio pretty complicated I suggest leaving it the way it is, for more info on gears check you should check out YouTube vids and google it

Step 5: Taking Off the Gooseneck and Fork

This part varies on the bike, typically you loosen the remaining bolts on the gooseneck then the large one located on top of the goose neck it's will all then slide apart, WARNING don't lose any bearings and remember how the spacers and other stuff goes on

Step 6: Taking Off the Sprocket and Pedals

This step will leave you now with just the frame,first off this is optional you can just mask this stuff off when painting the frame, which I highly suggest for the path of a mountain bike, or you can take it off and put a new sprocket or new pedals if you want. If you choose to take it off first use a wrench to take off the pedals, the you will see a little ring with notches in it near the frame (pictured) you use a hammer and screw driver for this step, you put the screw driver in one of the notches and hit it where it goes counter clockwise so it will loosen and then allow you to slip the whole assembly of, again I stress do not lose the bearing the will probably need greased before assembling on the bike frame you choose to use

Step 7: Painting

For this step you will choose the frame, forks, etc. for your bike you will choose what colors you want and what you wanna paint. Once you've made your choice sand all the parts your gonna paint and spray a coat of primer on it, the using painters tape you can make designs and use your imagination, you will wanna paint using light even coats 2-3coats of spray paint (or auto body paint) will be needed usually 

Step 8: Assembly

Now al you have to do is combine parts you like off your other bikes and the freshly painted stuff you wi do the opposite of what you did taking it apart, it's pretty simple. Remember have fun and be safe with your new custom bike
This looks awesom

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