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  #111  
Old 01-06-2014, 07:20 PM
newguy123 newguy123 is offline
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Quote:
Originally Posted by 32vld View Post
Sometimes a loan can not be avoided. Yes you should save for a truck.
The way to do that is after you pay of the first truck loan is to keep making payments to yourself and keep that money separate after the loan is paid off. 5 year loan followed by 5 years of savings. New truck every 10 years.

I am anti debt. Though I will most likely be taking a loan to buy a new mower for this up coming season. I want to pay cash for everything. This past season I bought 2 new BR600 BP blowers and a new 5 x 10 open trailer cash.
Good for you!

You know, I've kind of been in the camp that would usually suggest debt free. However, isn't our leverage stronger while using debt properly? If I use debt in the proper areas of my business, I can then utilize cash that's best fit for other areas.

Not trying to create an argument here...thanks.
  #112  
Old 01-06-2014, 07:22 PM
larryinalabama larryinalabama is online now
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Quote:
Originally Posted by 32vld View Post
Sometimes a loan can not be avoided. Yes you should save for a truck.
The way to do that is after you pay of the first truck loan is to keep making payments to yourself and keep that money separate after the loan is paid off. 5 year loan followed by 5 years of savings. New truck every 10 years.

I am anti debt. Though I will most likely be taking a loan to buy a new mower for this up coming season. I want to pay cash for everything. This past season I bought 2 new BR600 BP blowers and a new 5 x 10 open trailer cash.
I dispise debt, you have a good plan with the 10 year truck.

I realize it may be difficult to purchase a home with out borrowing money, but a 7 year plan of paying it off is a good plan.

As far as borrowing a bunch of money to buy a new truck and mowers so you can turn it over to 3 employees is a plan for disaster.

I almost borrowed some money to do a couple of realestate deals over the summer but opted not to.
  #113  
Old 01-06-2014, 07:34 PM
The Turf Guys The Turf Guys is offline
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Seems funny that most people who preach about it's a no-brainer to get bigger always speak from a theoretical point of view. I mean, if it's relatively common sense and the obvious business decision then why are you still talking about it after 5-8 years in the industry. Live that dream brother!!!

As for me I will just stay small and try to stay out of the way of others growth.

That reminds me of a guy who used to be on this site years ago. He went by the name of Recession Proof Mowing. He had all the answers to big growth too. Haven't heard from him for a couple years. Maybe he got big and successful and only has time to count his $$$. lol

Anyhow, best of luck to all in pursuit of success.
  #114  
Old 01-06-2014, 07:54 PM
205mx 205mx is offline
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Location: Nashville, TN
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Quote:
Originally Posted by The Turf Guys View Post
Pointing out the flawed mindset of bigger is better. For many who are responsible and understand finances it is fine. However for people who make silly statements as made by 205 then it is a folly made for disaster.
Yeah so most people who live in a $400k house are house broke? I refuse to believe this boloney. People who manage their money well in personal and business finance will be OK. Small or large being "flawed" is ignorant. Neither is flawed. What's flawed is saying most of the time big = less success than solo. It's your way of coping. I loved being solo. It was easy going. But if I went back to solo, I'd be "house broke"
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  #115  
Old 01-06-2014, 08:25 PM
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JContracting JContracting is offline
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Quote:
Originally Posted by 205mx View Post
Yeah so most people who live in a $400k house are house broke? I refuse to believe this boloney. People who manage their money well in personal and business finance will be OK. Small or large being "flawed" is ignorant. Neither is flawed. What's flawed is saying most of the time big = less success than solo. It's your way of coping. I loved being solo. It was easy going. But if I went back to solo, I'd be "house broke"
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I am right there with you, if one can qualify for a loan nowadays for a house that price, they obviously have the money to afford it.After the bubble, we found out who actually couldn't afford their house.

If I had a guy helping out that said something as "ignant" as he did, he'd be gone. That's just plain ignorance.

As for being solo, its nice for about a year or two, I prefer to own a business & be out of the field very soon as opposed to having an elaborate job, as described by Tony Bass (E-Myth) & Ed LaFlamme (Green Side Up).

To each their own with what they want, but if you get sick or injured as a solo op, you're screwed.


I also agree with whomever said to not be posting in a business management thread, especially one about growth when you only own a job & plan to do so forever.
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  #116  
Old 01-06-2014, 09:06 PM
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Michael J. Donovan Michael J. Donovan is online now
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ok, time to move on...and no need for the personal attacks on one another as everyone can get their point across without having to do that, or degrade another member or use profanity

thanks
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