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  #81  
Old 07-20-2013, 08:15 PM
32vld 32vld is offline
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Originally Posted by vegandude View Post
I wonder if some people plan their purchases several years in advance so that the money is saved in a separate NEW EQUIPMENT ACCOUNT. Jeez. What a concept
Even if only half the price is saved up and one's truck dies that is a great down payment. Making the monthly payments a lot smaller.

Also I do not see nothing wrong with keeping a truck for twenty years, or a mower for ten years, that has been trouble free.

When something runs good it is wasting money to replace it just because it is old.

There is a landscaper, I think in Wisconsin, that has a fleet of trucks that are all over ten years old
  #82  
Old 07-20-2013, 08:20 PM
RWI RWI is offline
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Originally Posted by Efficiency View Post

If you want, I can start teaching entrepreneurship courses...
Lets see your balance sheet first big dawg. Back up your bark.
  #83  
Old 07-20-2013, 08:33 PM
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SRT8 SRT8 is online now
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Quote:
Originally Posted by 32vld View Post
Even if only half the price is saved up and one's truck dies that is a great down payment. Making the monthly payments a lot smaller.

Also I do not see nothing wrong with keeping a truck for twenty years, or a mower for ten years, that has been trouble free.

When something runs good it is wasting money to replace it just because it is old.

There is a landscaper, I think in Wisconsin, that has a fleet of trucks that are all over ten years old


Im all for having older trucks in the fleet that are paid off instead of having 5 truck payments. As long as the trucks are clean and not beat up i dont see a problem. I have a bunch of 2003-2006 chevy trucks that still look really nice. But i do still buy a new $55k diesel pickup from time to time for towing our bigger machines.
I dont understand how people can buy new mowers, unless we absolutely have to we will or else we just search Craigslist until we find one. We always buy used mowers in advance to allow for easy growth.
  #84  
Old 07-20-2013, 08:35 PM
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Efficiency Efficiency is offline
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Originally Posted by RWI View Post
Lets see your balance sheet first big dawg. Back up your bark.
Sorry pal. My wife doesnt even see my financials. They are for me, my banker and accountant only.
  #85  
Old 07-20-2013, 08:50 PM
mowing4cash mowing4cash is online now
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I just got a 2 year old grandstand with less the 300 hours for $3800. I cant believe no one else in my area did not jump on it. It was on craigslist for 2 week. Guess no one had the cash for it like me.

Sure on glad I waited and did not finance a new one.
  #86  
Old 07-20-2013, 08:58 PM
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cpllawncare cpllawncare is offline
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Originally Posted by SRT8 View Post
Im all for having older trucks in the fleet that are paid off instead of having 5 truck payments. As long as the trucks are clean and not beat up i dont see a problem. I have a bunch of 2003-2006 chevy trucks that still look really nice. But i do still buy a new $55k diesel pickup from time to time for towing our bigger machines.
I dont understand how people can buy new mowers, unless we absolutely have to we will or else we just search Craigslist until we find one. We always buy used mowers in advance to allow for easy growth.
Buying equipt in advance of growth may or may not work, we did that last year and the growth we thought was coming didn't come due mostly to the extreme weather conditions we're seeing. Although we're growing quite a bit this year it's not on pace with the projections we made based on past years performance. As of now we're plenty of room equipt wise to grow.At least we don't have to buy anything for a while we're thinking. The newest truck in the fleet is 8 years old and they are all paid for, of course we only have three so no biggie, LOL
  #87  
Old 07-20-2013, 09:12 PM
larryinalabama larryinalabama is offline
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Originally Posted by cpllawncare View Post
Buying equipt in advance of growth may or may not work, we did that last year and the growth we thought was coming didn't come due mostly to the extreme weather conditions we're seeing. Although we're growing quite a bit this year it's not on pace with the projections we made based on past years performance. As of now we're plenty of room equipt wise to grow.At least we don't have to buy anything for a while we're thinking. The newest truck in the fleet is 8 years old and they are all paid for, of course we only have three so no biggie, LOL
Im trying too keep 5 years ahead of the game, but some of the new stuff I buy isn't all that great. Last year I reinvested over 7000$, this year Im hoping to keep under 2500$. Its a real expensive business to run and debt makes it even more expensive.
  #88  
Old 07-20-2013, 09:28 PM
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Mahoney3223 Mahoney3223 is offline
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Originally Posted by kc2006 View Post
Some of the stuff said in this thread cracks me up.

There's either alot of kids living with parents, guys who's wives make ALOT of money and pay all their personal bills (IE home/auto/utilities), or alot of people that don't grow much per year and hang on to equipment for 15-20 years and continually bandaid it to get by. Not saying there aren't some people that are debt free or can purchase equipment cash but geez EVERYONE on here is that way? Lawnsite must be only the smartest most business minded LCO's out there, because from what I've seen in the real world, LCO's are usually idiots that charge too little. The 50% of gross in savings is probably my favorite. Most guys don't even make 50% profit on jobs lol, explain how they'll have 50% saved!

I just can't believe EVERYONE on here purchases their trucks and everything cash and never finance a thing, unless we're all running trucks for 20 years, mowers for 10-15 years, especially with the cost of equipment these days. I financed my mower, and paid it off in the first year just because I didn't want to be out 14k in one hit. I financed my new truck, but I was smart about it and bought a left over and got them 15K off msrp and will pay it off in a year and a half because it was only 20K. If for some reason I have to sell the truck guess what, they had 2 year old used trucks on the same lot for 7K more than I paid new, so I think I'm safe.

No debt is good debt, smart debt is acceptable, some debt is real life.
Agreed. Many "experts" on here.
  #89  
Old 07-20-2013, 10:54 PM
RWI RWI is offline
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Originally Posted by kc2006 View Post
I usually find the people that fight the hardest to "prove" themselves on forums are the ones that are the most bloated with crap.

For who ever said if i'm so successful why don't I pay cash for everything, it's called working capital. Weren't you the same person that said if you had 10k in the bank and bought a mower for 9k you'd do it cash? Ok so what happens when it comes to working capital? A few hundred a week in fuel, a couple thousand a week in material for jobs, breakdown cash, winter money. Not to mention your wage. Or was that 10k in your savings and you still have a checking for everything else? Maybe I'm misunderstanding people here.

I just find it funny that not one person here rolls with debt (except me I guess). I have friends in this business from solo ops doing 80 in sales a year to friends doing 1 mil a year in sales and all finance equipment.

I bet if we start talking about leasing equipment it would blow your minds...
pm me your phone number... and I will call you. and you decide for yourself.... if you are somebody I think I can trust I will give you my facebook page, website, etc

I have friends in this business that gross 5 mil a year and cannot make their personal truck payment.
  #90  
Old 07-20-2013, 11:16 PM
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Michael J. Donovan Michael J. Donovan is online now
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ok, enough with some of the comments, etc that were posted in here so time to close this one down

thanks
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