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  #171  
Old 03-05-2013, 09:20 PM
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meets1 meets1 is offline
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Business model yes. Also how about those that inherited money? Those that may have other business ventures on the side? How about your wife? Alot of things come into play. THere is a 22 year old kid here that used to help us part time. Daddy farms. He claims he saved close to $780K thru high school and 2 yr college - he just bought a dozer, excavator, 2 payloaders, a 2 trucks, 2 sidedumps and 2 lowboys. I told him I paid you too much - he has no debt - bottom line DADDY! There going to start playing in the dirt.
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  #172  
Old 03-05-2013, 10:17 PM
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weeze weeze is offline
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wow with a dad like that why would you even work at all?
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  #173  
Old 03-05-2013, 10:44 PM
205mx 205mx is online now
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Originally Posted by meets1 View Post
Business model yes. Also how about those that inherited money? Those that may have other business ventures on the side? How about your wife? Alot of things come into play. THere is a 22 year old kid here that used to help us part time. Daddy farms. He claims he saved close to $780K thru high school and 2 yr college - he just bought a dozer, excavator, 2 payloaders, a 2 trucks, 2 sidedumps and 2 lowboys. I told him I paid you too much - he has no debt - bottom line DADDY! There going to start playing in the dirt.
Right. Many factors
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  #174  
Old 03-06-2013, 08:52 AM
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meets1 meets1 is offline
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Why work with a dad like that - well he is a farmer. No matter the drought ect he needs ductions or pay in. He bought the stuff. That kid stay on farm in one fashion or other and life is good. He just left our local honda dealer last week with a new $16K sled cuz he was going to the montana area (cook city) I think to go sledding. Why was I there - to get a few shear pins for our honda blower. Me just a little guy!
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  #175  
Old 03-06-2013, 10:01 AM
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LindblomRJ LindblomRJ is offline
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Sure, you can operate debt free, if you intent to grow or up productivity debt can sustain or expand while helping to maintain decent cash flow. If managed debt can be a great tool.

Playing with dad's money is a sure fire way to go broke in 5 years. However, starting up debt free is a great way to get started.
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  #176  
Old 03-06-2013, 10:45 AM
zackvbra zackvbra is offline
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This is my 4th year, and I have yet to be in debt. The only thing I have had financed is my mower and truck. Still paying on the truck, just paid the mower off a couple months ago.
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  #177  
Old 03-06-2013, 10:52 AM
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Patriot Services Patriot Services is offline
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Quote:
Originally Posted by LindblomRJ View Post
Sure, you can operate debt free, if you intent to grow or up productivity debt can sustain or expand while helping to maintain decent cash flow. If managed debt can be a great tool.

Playing with dad's money is a sure fire way to go broke in 5 years. However, starting up debt free is a great way to get started.
This is where a revolving line of credit rules. Not talking credit card here. You borrow what you need, when you need it. Usually at far more favorable rates than a straight up loan that you are paying interest on whether the money is in play or not.
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  #178  
Old 03-06-2013, 11:38 AM
205mx 205mx is online now
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Originally Posted by zackvbra View Post
This is my 4th year, and I have yet to be in debt. The only thing I have had financed is my mower and truck. Still paying on the truck, just paid the mower off a couple months ago.
LOL
I have no debt except for the debt I have'


Congrats payin off the mower I'm just joshin ya
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  #179  
Old 03-06-2013, 11:48 AM
zackvbra zackvbra is offline
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My definition of debt is you are late on a payment on something, and it just keeps piling up. If you make your payments on time, thats not debt, in my book.
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My set up:
-2007 Chevy 2500hd 8.1l 4x4
-7x18 enclosed trailer
-Grasshopper front mount 61", gravely 52"
-36" Gravely Walkbehind, 21" exmark push mower
-Stihl everything
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  #180  
Old 03-06-2013, 11:50 AM
205mx 205mx is online now
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What book is that?

JK! That's an interesting take really. Payment don't necessarily make it debt I guess. Interesting take man. With a truck it's just making payments. Big difference in that and credit cards. Nice way of looking at things, really.

Tyler
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