Discussion in 'Lawn Mowing' started by Frontstreetlawns, Feb 12, 2008.

  1. Frontstreetlawns

    Frontstreetlawns LawnSite Member
    Messages: 168

    i just want to know were i sit compared to other companys. how much debt do you all have and are you completely set up, do you feel straped or just fine with it, i have around 30 thousand in debt and thats everything and im a one crew company almost 2 crews
  2. Raven386

    Raven386 LawnSite Silver Member
    from CT
    Messages: 2,169

    19k=truck, 13k lazer,2 br600s, and misc accessories. 6000 plow and accessories incl. lights,timbrens, etc...
  3. Raven386

    Raven386 LawnSite Silver Member
    from CT
    Messages: 2,169

    oh i forgot about the trailer, 1200 left on that. and more like 11K for the lazer and misc stuff..... and $2500 for a damn tooth!!!!!
  4. barefeetny

    barefeetny LawnSite Senior Member
    Messages: 533

    i am a solo

    after 8 months of not paying myself the greatest wage... buying quality used equitment and working my tail off... i was out of debt

    there has been a few rocky spots after that.. but knock on wood ive been ok turning a decent profit each year and paying myself a decent wage

    this season.. the plowing or lack of has hurt a little...that and a bunch of nessacary spending has put me -`2500....for 2008-2009

    Spring is coming fast as soon i will be working my tail off again...

    hope this helps

  5. TurfCo  LLC

    TurfCo LLC LawnSite Member
    Messages: 63

    I am nearly the same as far as crew size goes, but my debt is much smaller, only 11k. Open a business line of revolving credit vs. financing straight out. It acts like a credit card, only it's through your bank and there's no card. If you need a few thousand to buy a new toy, just call the bank and have them add the money against your loan account and deposit the cash so you can write a check. The rates for this are usually really cheap if you've been responsible with your credit. And get to know the people at your bank. They are your best friends. My credit line is a .25% above prime.... can't beat that. I refinanced mower and car loans and saved bundles.
  6. LDH

    LDH LawnSite Bronze Member
    Messages: 1,262

    $42,000 07' Dodge, $24,000 Yard Card for 2 mowers. As far as hand helds, 21" mower, and trailers, I always pay cash for. I also paid $6,700 cash for my Scag Tiger Cub. I use my Dodge for personal and business.
  7. LDH

    LDH LawnSite Bronze Member
    Messages: 1,262

    Fixing to get a $50,000 consolidation loan to pay off everything and just have one payment with better interest rate.
  8. RGM

    RGM LawnSite Senior Member
    Male, from Baltimore Md
    Messages: 979

    Everything I have is payed for and its getting about time to buy some new stuff again
  9. LDH

    LDH LawnSite Bronze Member
    Messages: 1,262

    If I could sell my Dodge for what I owe on it (38K now) I would. I saw a brand new Chevy half ton today at a car lot, V-8, 4x4, loaded, for 17K. I could cut down alot of my debt with that and still have a brand new truck. It might not be a 3/4 ton or have a Cummins under the hood, but it would still do everything I need to do and cut my debt down.
  10. Richard Martin

    Richard Martin LawnSite Fanatic
    Messages: 14,699

    My total debt is under $10k now and my business debt is under $300. Long range plans don't call for any new sizeable debt until 2010 when I buy another truck to replace my aging 1995 F-150.

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