Debt Free business

Discussion in 'Starting a Lawn Care Business' started by Hoss4x4, Sep 18, 2011.

  1. precisionlawnandlandscape

    precisionlawnandlandscape LawnSite Member
    Posts: 19

     
  2. 32vld

    32vld LawnSite Gold Member
    Posts: 3,984

     
  3. precisionlawnandlandscape

    precisionlawnandlandscape LawnSite Member
    Posts: 19

     
  4. newguy123

    newguy123 LawnSite Bronze Member
    Posts: 1,094

     
  5. Patriot Services

    Patriot Services LawnSite Fanatic
    Posts: 12,533

    I worry about the guys that manage to make a bit of money from this and have no idea what to do from there. 2% is sure safe but you could do so much more with your hard earned money. This business is a means to an end. Figuring out what to do with it isn't hard but you do need to educate yourself. Do not put it in the hands of an advisor or broker and turn your back. They get paid whether you make money or not and the last thing they want you to do is take money out. The unquestionable trust people put in these unscrupulous money handlers cost millions of people their nest eggs. You don't need to be a stockbroker to make good investments, but putting it in your mattress or a hole in the wall is just a damn shame.
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  6. muddywater

    muddywater LawnSite Bronze Member
    Posts: 1,813

    I kind of agree with you. I think you need to be an expert at making or getting a return on your money. How many of us are experts in investing???

    I know you are probably somewhat of an expert in real estate, and you have a niche. I just think to make a 10% return you need to be an expert. There just isnt much out there that makes a great return without expert knowledge. And i will be the first to admit i an not an expert on stocks, and like you said most stock brokers are not much different than car salesman.

    I look at starting another crew as an investment with a 20% return. Why would i leverage this investment? It is the investment....and one i have control over. And an investment i am an expert on.
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  7. precisionlawnandlandscape

    precisionlawnandlandscape LawnSite Member
    Posts: 19

     
  8. cpllawncare

    cpllawncare LawnSite Silver Member
    Posts: 2,659

    I have to agree with Precision on this, to grow at any kind of pace, you really need to be willing to have some debt, it just has to be managed you can't go hog wild. You can grow without it but at a MUCH MUCH slower pace.
     
  9. muddywater

    muddywater LawnSite Bronze Member
    Posts: 1,813

    Well cash is always king if you got enough of it! I agree its hard to start up without a loan, but it can be a rough ride. I just dont like debt personally because i would rather own my assets than the bank.

    And i think when you are buying equipment and trucks with cash it is easier get great deals. The last guy that bought one of my trucks took 3 days to get financing. Most of the equipment deals i find are gone in less than 24 hours.
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  10. newguy123

    newguy123 LawnSite Bronze Member
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