Discussion in 'Lawn Mowing' started by grassyfras, Apr 11, 2004.

  1. grassyfras

    grassyfras LawnSite Bronze Member
    Posts: 1,473

    Hey everybody whats up. Ive been mowig lawns part time for some time now and I'm starting to get older(18). I'm going to take this thing full time one of these days but I have no idea how much money I need to live off on my own while still being able to keep a profitable business. I have no problems running the business but I dont have any "sink or swim" experince to know if I can do both, living off of my business and supporting the business at the same time. What should I look out for and any ideas on how much money i should have put away or anything else helpful like that. I want to have 3 divisions eventually landscaping, fert and squit, and mowing maintinance. Should I get mowing completly self sufficient before going out on my own? Please I need some guidance.
  2. qualitylandscaping

    qualitylandscaping LawnSite Bronze Member
    Posts: 1,581

    I'm in the same position right now.. I do need to wait until I turn 18 before I can move out, but I figured this stuff out a few years ago..

    Gross Income
    - Subtract Sales Tax & Income Tax
    - Subtract Field Expenses for the year (trailers, mowers, 2-cycle, hand tools)
    - Subtract Office Expenses for the year (paper, stamps, computer)
    - Subtract Operational Expenses (Insurance, Workmans Comp)

    Basically estimate each of your expenses for the year and subtract them from the gross income.

    You are left with net profit.

    These are estimated figures, obviously..

    Apartment- $800/month X 12 months = $9,600 year
    Truck- $300/month X 12 months = $3,600 year
    Groceries, utilities, etc

    Add up all of your expected living expenses and if your estimated living expenses for the year are less than your net profit, you should be ok to move out. Just make sure you keep some money in the bank though!
  3. TheKingNJ

    TheKingNJ LawnSite Senior Member
    Posts: 781

    Why are you guys in such a rush to move out? I'm 19 I go to comuntiy college going to transfer out next srping and I even plan on living with my parents a year or two after I graduate from college. You can bank so much money if you have a very small cost a of living. I'd rather stick it out for a little bit and have a nice down payment on a house then have to stress about money, and live in an apartment for a while where you have a high coust of living and can't save much money.
  4. qualitylandscaping

    qualitylandscaping LawnSite Bronze Member
    Posts: 1,581


    I want to move out because I'm independent.. I don't want to live by "be home at midnight" or "take out the trash" or "clean your room".. I want to be in my own house where I make the rules.

    There are four reasons I'm getting a house:

    1) Because I want to..
    2) Because I can afford to do it..
    3) Because I need more room..
    4) Because I want to be able to have girls over without my parents going nuts.. //parties//

    I agree with you on the apartment living though.. Apartment living is the biggest money pit you could ever put yourself in. I just used it as an example..

    Thats my $.02..
  5. TheKingNJ

    TheKingNJ LawnSite Senior Member
    Posts: 781

    Yeah I see where your coming from. My parents are pritty lenient with me. Not worried about me coming home any specific time, I don't have to take out the trash, but I sure as hell have to mow the lawn, and I really have no problem with space. One of my best friends is 26 with his own house so I got a place to party and crash when I don't wanna be home so I guess its more of the situation your in.
    but i think %80 is
  6. grassyfras

    grassyfras LawnSite Bronze Member
    Posts: 1,473

    I never said I wanted to move out now. I just wanted to know from some of the guys that made this leap already how rough or easy it will be for a while and what kind of financial position you were in?
  7. FatherandSon

    FatherandSon LawnSite Member
    Posts: 70

    Quality Landscaping

    You sound a lot like I did many, many years ago. Was 18 and tired of my father telling me, "as long as your under my roof you will abide by my rules." Yup even had to take out the garbage.

    I showed him, joined the service and got out from under his roof. After a few weeks in Vietnam I realized his rules weren't really that bad. Would of loved to be back "under his roof".

    So if you don't like his rules, and don't have the money, join the service they pay for everything and even pay you (a little). Besides you grow up very quickly...
  8. ffemt1271

    ffemt1271 LawnSite Bronze Member
    Posts: 1,285

    hey guys , before you go and rent an $800 a month apartment go out and look for a house. i have a 2000 sq ft (older wood frame house) in town (population 6000) and the note and utilities are only around 750$ a month. plus if you have a home office most of that is tax deductible.

    when you move out of the APT. the 800$ a month is gone.
    You can always sell the house and get your money back.
  9. rookiemower

    rookiemower LawnSite Senior Member
    Posts: 766

    if you make more than $30,000 a year look into buying a home, apartments are a complete WASTE of money
  10. environment

    environment LawnSite Member
    Posts: 146

    complete waste
    im trying to save up $30,000 to put down on a two family house
    this way i can marry my girlfriend have a home
    and have a tenant pay half my mortgage
    not to mention the banks are much easier with approving loans when they know you will have another person (the tenant) paying into your bills each month

    but i will be the first to say its a struggle at a young age
    i just turned 21 and credit is slim

    i worked for my fathers landscaping company since i was six and he refused to put me on the books

    so havibng been in business on my own now only three weeks, i have no credit

    i have a visa with a $500 limit

    so i have a large task at hand

    but i love huge challenges, they make life worth living

    but why pay the same amount for a rent thta you can pay for a mortgage and then have money in equity at your disposal

    i want to buy the two family
    live there for a while and save

    then take the equity, and buy two more multi families, live in one, and rent out the rest, and keep multiplying from there

    my uncle did that

    he now owns quite few houses
    an apartment complex
    and a mini mall
    not to mention his own restaurant
    and loan company

    an entire blcok down the shore belongs to him with his name on the street signs

    thats what i want

    and i could landscape all of them

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