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  #31  
Old 11-22-2012, 07:55 PM
muddywater muddywater is offline
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Quote:
Originally Posted by Sean Adams View Post
Get credit everywhere you can, max out that credit, buy whatever your business needs and then some.... I'm not kidding.

If you want me to explain I will. I'm definitely not putting anyone down who prefers to buy cash and have no debt, just a different approach.
What is your theory? Interest rates will never be this low again?
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  #32  
Old 11-22-2012, 07:57 PM
larryinalabama larryinalabama is online now
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Quote:
Originally Posted by Sean Adams View Post
Get credit everywhere you can, max out that credit, buy whatever your business needs and then some.... I'm not kidding.

If you want me to explain I will. I'm definitely not putting anyone down who prefers to buy cash and have no debt, just a different approach.
Please do explain.

Ive bought all kinds of equiptment and parts from the sponsers on this site using cash, or debit card.
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  #33  
Old 11-22-2012, 09:53 PM
Duekster Duekster is offline
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I suspect he is talking about building credit so you leverage growth in the future. I do a mixture of credit and cash.
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  #34  
Old 11-22-2012, 10:01 PM
Darryl G Darryl G is offline
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I suspect he just wants us to click on his links
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  #35  
Old 11-22-2012, 10:05 PM
Duekster Duekster is offline
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Quote:
Originally Posted by Darryl G View Post
I suspect he just wants us to click on his links
The Former Owner has been active today
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  #36  
Old 11-22-2012, 10:14 PM
larryinalabama larryinalabama is online now
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Quote:
Originally Posted by Duekster View Post
The Former Owner has been active today
Possible hes going into equiptment banking.

I think the intent of the thred is if you start your business "out of pocket" how long does it take you "recoup" your investment. My first post was immediately, if I purchase a truck for 5k and its worth 9k I made 4k, although its not "cash".
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  #37  
Old 11-22-2012, 10:22 PM
Darryl G Darryl G is offline
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I'm not quite following the original post. If you still have the equipment it still has value = assests or equity. The only thing you really need to recoup is the depreciation.

I donated a truck and landscape tractor that I already had to my business when I started out, which was a benefit because I could not deduct their depreciation when I owned them personally. On top of that I was able to show an operating loss for the first two years even though I put a substantial amount of money in my pocket.
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  #38  
Old 11-22-2012, 10:23 PM
Duekster Duekster is offline
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Quote:
Originally Posted by larryinalabama View Post
Possible hes going into equiptment banking.

I think the intent of the thred is if you start your business "out of pocket" how long does it take you "recoup" your investment. My first post was immediately, if I purchase a truck for 5k and its worth 9k I made 4k, although its not "cash".
I would like to find some of these late model 2006 + > 100K Mile Diesel NPR /Fusio trucks people are talking about.
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  #39  
Old 11-22-2012, 10:29 PM
larryinalabama larryinalabama is online now
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Quote:
Originally Posted by Duekster View Post
I would like to find some of these late model 2006 + > 100K Mile Diesel NPR /Fusio trucks people are talking about.
Ive got a 2000 Chevorlet cutaway, I bought it in 2007 for 6k with dovetail and trimmer racks inside the box. It took me 9 months to find it and it was a 4 hour drive from my house.

If you check truck trader, ebay, craigslist etc all the time and are willing to travel you will find a deal.
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  #40  
Old 11-22-2012, 11:34 PM
Duekster Duekster is offline
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Quote:
Originally Posted by larryinalabama View Post
Ive got a 2000 Chevorlet cutaway, I bought it in 2007 for 6k with dovetail and trimmer racks inside the box. It took me 9 months to find it and it was a 4 hour drive from my house.

If you check truck trader, ebay, craigslist etc all the time and are willing to travel you will find a deal.
Definately thinking this is likely a good way to go. Just got to squirrel away some cash. Been paying down personal debt. Wife got laid off 4 years ago and decided to become a house wife. Glad she can do it but losing that 60K a year hurts. I was not sure we would make it 3 years ago but things are looking much better.
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