Lease to Friend

[MikeGA]

I had a guy approach me about "leasing" my mower untill I have time (about 2 months) to push my personal growth. I only have my personal 3 acres and two other accounts to take care of currently which shouldn't take an entire day. He has past accounts (several) and said he could take care of them in about 3 or 4 days. He currently has credit problems preventing him from upgrading his mower and his current mower just won't go any further. I feel, and a couple other guys stated, there won't be any problems collecting from him IF I get it every week when he gets it.

Has anyone ever done anything similar to this?

I will type up some type of "contract" and have him sign it in front of a 3rd party witness.

Is this advisable? If so, what are some of the "items" I should include is this "contract"?

Thanks

Mike.

[jrebeiro]

I would be wary.. mainly because he has credit problems in the past. I would require some sort of deposit that you would be happy with if he skips out on you. Wether it's a hardware deposit or cash GET SOMETHING! Just say to yourself, If I had no money, no credit, and no collateral and desperatly needed a mower upgrade and someone is letting me use theirs without a deposit.... would I skip out on this guy? Take your current morals and subtract 40% cuz you can pay your bills and their is your answer.... Mine is "Show me the money!" Also think what your gonna do with those other lawns if he pulls the wool over on ya.

Also a contract is pretty much useless... especially if you really don't know this guy. If you sorta know him make sure you get everything a bank would require like nearest relative not living with him and verify that info beforehand. I would also get a customer reference and info so that you can hunt him down if he avoids you.

It's a gamble but it may work out.

Just my nickel 'n dime

[lee b]

Just a thought, since your a farmer you know how it is when you let your help run your equipment. Some people can tear-up a piece of equipment just by looking at it, and some will take better care of it than you do. Lease equipment always has a harder life because you're not as concerned about tearing it up, if it breaks its somebody else's problem. You tend to push it harder because every hour its used costs that much more, and the life expectancy dosen't matter. I would want to be real sure that I could trust the dude not to abuse your equipment.

[lawnman_scott]

Are his problems going to be fixed in 2 months? If u do it, get a notery public, not just a 3rd party. I take it your mower is under full warrenty, if not who pays if it breaks. its your mower.

[MikeGA]

Yeah, I'm having some of these same concerns. He works for a construction company which only works 4 days a week and he mows grass the other 3. A good friend of mine, who told him to call me, says he has been with this construction company for a long time. This friend sold him a new trailer to haul his equipment on 2 years ago and financed it for him and said he didn't have any problem getting his money from him. Supposedly, one of his kids has had some sever medical problems within the last year or 2 which has exhausted his credit some how. That is why the friend said to get payed at the end of the weekend while he has the money from the jobs he has done. And while he isn't using the mower, it WILL be in my shed. He will get it when he starts on thursday or friday and will bring it back clean Saturday or sunday afternoon.

I have my concerns, but I hate for him to loose his contracts he has worked to obtain. I also thought it would be an oportunity to get a little closer to paying my machine off even while I am not able to use it, and when I get caught up in the field I can see about helping him out and building up some accounts if he still hasn't found a better machine he can afford.

???????Who knows??????

I can't come up with a firm answer. I guess it is a combination of my Business side and my soft side and my concern for my new toys all fighting amongst each other.

[jrebeiro]

Well about paying your equipment off early.... you will be paying it off for hours not put on by yourself. You also better make sure he greases that sucker when its supposed to be greased. Just another thing to consider.

[joshua]

personly it doesn't sound good, when he's out working he could ruin your mower somehow, to many ways to list. if you did want to help him out, i would say that i'm going with you and want a piece of the pie that he gets, plus what it would cost you to run your machine. without you this guy is in a lose/lose situation. good luck with what you decide.

[VLM]

I think your wanting to help out this guy is a noble thing but maybe not the best business decission. Just a thought, but what about buying an older mower and lease that to him. Lots of us guys buy new machines every few years, mainly for tax reasons and there are allways cheap mowers for sale. You might end up making out ok financially and still help this guy out and if he screws you you have a backup machine. Nobody touches my equipment so that's what I would try to do.

[MikeGA]

I thought of that VLM, I have another friend with a 721d (I think) Grasshopper I want real bad but can't swing the money, BUT, I also have a 2 year old 50" 25hp Crapsman I am wanting to sell!!! You jogged that one into my memory. I will offer that one to him tomorrow!

Thanks!!!

[AVRECON]

If you decide to do it then I would have the contract notarized and filed with the register of deeds. They will do this for a small fee.

[GrassMaster]

Hello MikeGa:

These are just my thoughts & mite bees worth .02 cents, probably overpriced a that T00!

Lotsa problems doing business with friends, you at the most stand about a maximum of about 50% success rate! You have everything to loose & then some? Friends are priceless! :-)

This is what kills me about us JawJa folks we always helping others at all cost to us & our familys. Butt it's so important for us to help others & the rewards are priceless. I've been there & done that plenty of times. I've been burned way over 50% of the time, butt I keeps doing it? LOL, I've been burned so many times, I don't even feel it any more?

You need to come up with a price for the machine including wear & tear, parts, oil changes, blades, air filters, you get the picture & etc...

Might could find out from dealer a Lease price then come up with what it would take to maintain the machine & it bees best that you do all maintenance? I doesn't want anybody touching my STUFF! That'a a Fact Jack or MikeGa!!!!! :-)

You mite even come up with a price per week & then so much for every hour that the machine actually runs. That would be very fair to both of you?

I personally think it should be a deal where you get payed up front, that way you not put on the spot asking for money, let him know he pays in advance? Why, well One of the oldest excessuses in the World that Loosers always use is well they didn't pay me & until they pay me I can't pay you? That phrase is never used by a Winner & is always used by a Looser? Who cares if he or she gets paid or not that has nothing to do with the fact of them using & putting wear & tear on your equipment to make a profit? Collecting is their problem & their problem only?

Off Topic!
You can't tell the family, well I know ya'll want to eat today but you just have to wait till Mrs. Gotmorefriggingmoneythansheknowswhattodowith pays what's his name for the work he did with my mower & then we eat food. Ok now quit boofing about being hungry!

Back on Topic!
Get a fair price for unit including wear & tear. You does all maintenance remember when doing it you must get paid for doing it plus materials. Figure a weekly price that's fair?

Like I say get it in advance & let him know that. This is what causes the most problems between friends is being put on the spot asking for money that is already owed to you, I'm sure you've been in that situation before? Been there done that & this is the worst part about doing business with family & friends? Another Fact!!!!!

BTW, does this person have insurance in case of theft or if it falls off the trailer or will he just pay you cash for it or will he buy you another one at exact replacement the next business day after it happens????? :-) Sorry, MikeGa butt Shinola happens & this is when it happens the most?

Now MikeGa since you are one of my bestest Internet Buddies from JawJa, can you let me use your truck at night since it just sits there in your driveway all night. I'll give you $65 a week, I'll take as good of care of it as if it were my Grannies Country Cadillac. I'll never punch the accelerator, never play the sterio to loud, I'l come to a stop if I have to spit out the window, I'll never carry anything Illegal in it & well you know me? We are bestest friends in Cyberspace & if something does happen to it, well I'll take care of it when I get the money from Mrs. Gotmorefriggingmoneythansheknowswhattodowith pays me, I hope you understand because she ain't payed me & until then I can't pay you?

Sorry MikeGa, I had to do this! I's reads a lot of your post & it appears to me that you don't make many excusses at all, probably none? I hate to see anything go wrong with a good hard working, honest & generous person. If you like me I would rather hear a big old flat out lie than a excuse of any kind because all excuses are Poor Excuses in my eyes?

I just came up with a Great Idea & this can get the Monkey off yo back completely.

Print out this thread on Lease to a friend & let him read it?

Repeat again: These are just my thoughts & mite bees worth .02 cents, probably overpriced a that T00!

You will do what is right as always, friendship is far greater than monetary gain? I wish you & yours the best of the Best!

[Runner]

Here here. Now THAT was a reply!!! This one needs to be remembered for the archives, come award time.

[jeffyr]

Short but Sweet.

sounds like bad news to me.

[John DiMartino]

Mike,you've nothing to gain,and everything to lose.I dont let anyone else run my equipment-I am anal about that,so right away,Ib be like no -way.I just feel that no one will be as careful with my 10K investment as myself.Tell him you lease it to own,and one of the stipulations is you cant sub lease it-and you have to name 3 operators-and he's not one of them.just tell him no,and its nothing personal,just business-its a business decision,and has nothing to do with not liking or trustin him,it will kep you being friends.

[bob]

No way, Jose!

[MikeGA]

Well, I talked to the dude this morn and told him I just didn't want to let ANYONE play with my new toy. BUT(VLM), I just happen to have a real nice Craftsman I would sell him. He sounded REAL interested in it and is going to look at it Friday or Saturday. I had to bite my tounge when he said he had been running two MURRAYS. Didn't take me long to figure out why they just wouldn't go any further (HEHE). I have never personally owned a Murray, but from what I have heard, they are alot like a Jaguar, you HAVE to own two, one to use while the other one is in the shop.

And Grassmaster, come on up and if you can get that darned ole truck to crank I'll make it easy, just one bill ($100) a week (I still got one in diapers), but ya gotta have it back by mornin! And the bill in the seat every Sunday mornin for the plate.

Thanks for all the advice folks!!

Ya'll all think alot like I do and I just needed some reassurance I was looking at it the right way.

[HOMER]

Would it be possible for YOU to work with the guy a couple days a week? If that were the case then you could collect as you went, help him out, maybe build yourself a small customer base in the process. I don't know what your schedule is like right now but using your own mower to help him stay caught up until he could get one of his own would be a better scenario to me.

[VLM]

MikeGA, sounds like you've got the situation under control. It's good to have friends (like you), we all need one sooner or later. I've been granted generosity when I needed it and I try to do the same for others. And who said you GA boys was slow anyhow? HEHE

[GrassMaster]

If your Truck is a almost new Chevy Extended Cab & you have Full Coverage Insurance, I'll be there in the Morning, with first weeks $100! :-)

Please stand out in the Front of yo Driveway around Dark O' Thirty, about 5:30pm for us JawJa folks & wait for me to pull up, I'll be there soon, LOL just wait on me, LOL don't give up & I'll be wearing a Green Shirt with big pot belly, Stetson Straw Hat, Red & Black Rayband shades & Green sweat band, carrying a can of WD-40 & Jumper Cables. I's be looking like 1-8-up-JawJa-RedNeck?

Sorry Everybody for less than 1,000 word post, but nothing short about me including my POST! :-)