You paid cash for everything when you started,so where you in debt?

Discussion in 'Business Operations' started by grandview (2006), Nov 20, 2012.

  1. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 16,256

    I misunderstood. Realestate has been great for a few years now, I wish I was younger, I buy up a whole lot more.
     
  2. Patriot Services

    Patriot Services LawnSite Fanatic
    Posts: 12,448

    Posted via Mobile Device

    I'm being careful not to overextend. Even during the heyday I flipped one at a time. When the last one took six monthes and only netted 5k in my pocket I knew it was time. A bunch of buddies got stuck with dozens of properites they couldn't unload fast enough.
     
  3. Will P.C.

    Will P.C. LawnSite Senior Member
    Posts: 966

    When I was looking at buying a home, I was just amazed at the number of foreclosed homes I saw where you could see that someone had tried to 'fix it up'. It looked like they got halfway done and just literally walked out one day and never came back.

    As often said in the car business, 'the money is not in the buy, but in the sale'

    What this means is it doesn't matter what kind of crazy deal you bought the widget for and how it is 'worth 5X' the value if you can't sale it or can only sale it for a tiny profit. This is one reason you see many of the same make and models over and over at these big used car places like Car Max.
     
  4. Patriot Services

    Patriot Services LawnSite Fanatic
    Posts: 12,448

    The homes I buy never even get a realtor sign in the front yard. There are many more bank owned and the upside is the bank has the resources to keep them somewhat preserved. It is not a good time for flipping 101. Good for me as I'm not competing with a bunch of dreamers that do nothing but run up prices.
    Posted via Mobile Device
     
  5. kyles landscape

    kyles landscape LawnSite Senior Member
    Posts: 331

    no easy money out there just hard work or luck it seems
     
  6. Patriot Services

    Patriot Services LawnSite Fanatic
    Posts: 12,448

    There is money to be made in every kind of economy. If you've never watched History channel "The men who built America" I highly recommend it. Many of the business greats came from very humble beginnings.
    Posted via Mobile Device
     
  7. jrs.landscaping

    jrs.landscaping LawnSite Silver Member
    from Maine
    Posts: 2,715

    Great show, those guys realized the dynamics of the economy they were in. Like when Vanderbilt sold off his ships realizing that railroads were the future. Not many people have that type of vision. People should realize no matter what the economy opportunity is out there.
     
  8. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 16,256

    Ive been holding mine and just pick up a real good deal every now and then. However I think Im going to ride out what I have till I retire, "realestate" is a ton of never ending work. Generally realestate doesn pay out till you have it for 15 years or build "spec" houses, right now "spec" building would be nuts.

    Im enjoying my lawn business and its actually is a tremendous help in keeping up my properties.
     
  9. kyles landscape

    kyles landscape LawnSite Senior Member
    Posts: 331

    i agree but im saying you have to work for it...too many people sit back and wait for the perfect job to come to them or just expect it to happen over night
     
  10. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 16,256

    It takes literally a lifetime to build wealth.
     

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