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  #11  
Old 04-14-2000, 09:42 PM
nlminc nlminc is offline
LawnSite Bronze Member
 
Join Date: Jan 2000
Location: GA
Posts: 1,671
I agree with Lawrence on that one. I have had people call to sell, but they are asking crazy prices. Why buy it when you can earn it!<p>Chris
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  #12  
Old 04-15-2000, 10:59 AM
richard richard is offline
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Join Date: May 2000
Location: northfield, il
Posts: 74
thanks for the posts...i am thinking about selling my company at the end of this season or maybe in the fall...the tax man bites and i want to buy a house and it is much easier to get approval if you are not out on your own...
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  #13  
Old 04-15-2000, 01:05 PM
thelawnguy thelawnguy is offline
LawnSite Silver Member
 
Join Date: Dec 1999
Location: Central CT
Posts: 2,412
hey richard, whoever told you that is full of doodoo, as long as you pay your bills on time and you have the income to make the payments you will get the loan. It was easier getting the morgage last fall being self-employed than it was ten years ago with a major salary at a &quot;real&quot; job. As a matter of fact, I got my commitment three days after filling out the app, thats also with a LTV that would make you $#!t, to look at it you would think I didnt have a dime to my name but hey, excellent credit will get you everything in this world. As long as you pay your creditors on time dont worry about it, leave the clock-punching to the no-minds who like taking orders from the man.<p>Bill
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  #14  
Old 04-15-2000, 09:27 PM
Bobby Bobby is offline
LawnSite Senior Member
 
Join Date: Jan 2000
Location: Central Florida
Posts: 258
I've sold half of my work four times. If your on the buying end of the deal,you better be able to match or exceed the quality of work the seller is preforming.Low preformance is the quick way to unemployment. The new customers owe you nothing.<p>----------<br>Bobby <br>Ft Lauderdale
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  #15  
Old 04-16-2000, 12:30 AM
tbird tbird is offline
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Join Date: Mar 2000
Location: iowa
Posts: 13
when i bought out a company i went to a lawyer had him right a no compete clause up that said the seller could not compete directly or indirectly for 5 years in the county no work for another company in the county. then i held 10 percent of the sale price 6 months after the day of sale. also made him cancal tax id number. then before i gave him the check i tape recored the whole deal on tape so i would have even more proff that we both agreed on the terms. also got every thing that was signed nortorized. so far everything has worked out well
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  #16  
Old 04-16-2000, 08:06 AM
HOMER HOMER is offline
LawnSite Gold Member
 
Join Date: Jan 2000
Location: Alabama the Beautiful
Posts: 3,183
A frien of mine just sold 62 residential accounts, he also turned over the lease payments to the new guy. The other day I was still working at 6:00 pm and rode by the new guys house, there he was sitting on the porch waving............he just took on a load of work, picked up $700.00 worth of equipment, bought another truck and guess what...........his new customers think his work sucks. They are calling my friend to come back and do their yards again, he also signed a no compete claus, but only that he would not go after the customers he got rid of. The new guy has already agreed to let him have a couple back and there was no limit to how many he could pick up in the next county. If you can't do top quality work yet, don't spend good money &quot;buying&quot; your way into this business. Get it slow and over time, your also getting the experience you need as you grow. This guys going to lose his shirt. If you have to work til dark then by grannys you have to! Thats the name of the game! You ain't gonna get it done sittin' on the porch!<p>Homer
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