investing in your business

[Carolina start up]

so since my business has basically came to a crawl im looking foward to next year and have my list of customers and the income i should least be making in the start and adding. with that being said i want to invest into well a lot like rental houses and such but also my business and add other services. what would be the best one to learn towards a mini ex like ive always wanted in my life a skid steer which i need also or a tlb or none and just rent and stay away form dirt work related stuff.

 

[Bls repair]

so since my business has basically came to a crawl im looking foward to next year and have my list of customers and the income i should least be making in the start and adding. with that being said i want to invest into well a lot like rental houses and such but also my business and add other services. what would be the best one to learn towards a mini ex like ive always wanted in my life a skid steer which i need also or a tlb or none and just rent and stay away form dirt work related stuff.

This has some problems for me you buy the house ,pay the mortgage .but don’t if or when they have to pay rent with Covid rent rules in place.

 

[AzIron]

It's a matter of what you want to do really

So if you have no experience tread carefully into dirt work even with paid for equipment a bad job can sink you and a string of really small bad jobs with rookie mistakes can sink you

Now what machine to buy is all about preference versatility and dependability and what type of work you want to chase minis are great for a lot of things but once they get out of tight access they get real limited in a hurry also for grading work a skidsteer becomes necessary for a mini to get dirt out of the way so you cant have one with out the other

That leaves backhoes witch opinions vary widely but any one that tells you backhoes are not a capable machine to perfection has either not spent a real amount of time to learn the nuance of them or lacks the talent and creativity to make them perform to production in tight areas they struggle and get less efficient but are workable up to a lack of space or access

So what do you want to do it will determine the machine you need witch then will create the headache of bigger trucks and trailers

Is the lawn buissness treating you well it sounds like it I wonder if your best time investment is to develop that before you jump into a new venture

 

[Carolina start up]

It's a matter of what you want to do really

So if you have no experience tread carefully into dirt work even with paid for equipment a bad job can sink you and a string of really small bad jobs with rookie mistakes can sink you

Now what machine to buy is all about preference versatility and dependability and what type of work you want to chase minis are great for a lot of things but once they get out of tight access they get real limited in a hurry also for grading work a skidsteer becomes necessary for a mini to get dirt out of the way so you cant have one with out the other

That leaves backhoes witch opinions vary widely but any one that tells you backhoes are not a capable machine to perfection has either not spent a real amount of time to learn the nuance of them or lacks the talent and creativity to make them perform to production in tight areas they struggle and get less efficient but are workable up to a lack of space or access

So what do you want to do it will determine the machine you need witch then will create the headache of bigger trucks and trailers

Is the lawn buissness treating you well it sounds like it I wonder if your best time investment is to develop that before you jump into a new venture

well the lawn business took off fast and i know the next things to buy for it to keep it profitable but i would like to add services and use them at my house

 

[Carolina start up]

This has some problems for me you buy the house ,pay the mortgage .but don’t if or when they have to pay rent with Covid rent rules in place.

trust me i know with two rentals already its a fun time

 

[Tarhe Driver]

The problem with houses is that when you have tenants you're subject to being called anytime of the night to come unstop a potty down which somebody tried to flush a full diaper. And when you don't have tenants, you're worrying 24-7 how to get some.

Try to find something like a small warehouse or flex space (warehouse with office) where the tenants are there only 45 or fewer hours a week. Relatively, houses are so easy to buy that the return in the first few years is way down on the list of ratio of net income to current value. And like over-the-road tractors or other yellow equpment, if you don't put money away as a reserve for replacement (painting, carpets, roof, appliances, H20 heaters, windows, doors, HVAC,, etc.), at some point you'll wind up owning a shell that nobody wants to rent. To get started, take a look at condo flex space (office w/small warehouse) or even just an office condo.

 

[Vetech63]

Seems like everyone is growing weed now days. Try that

 

[Tyler d4c]

Seems like everyone is growing weed now days. Try that

No no more money in the good stuff

 

[Carolina start up]

Seems like everyone is growing weed now days. Try that

anit legal in NC yet

 

[suladas]

I have 3 rental houses and couldn't be happier, I had one problem tenant who left place damaged and had to take to court but I got a decent amount. It is a bit of luck on finding good tenants, but I find just meeting them in a short time you can learn a lot about if they will be good tenants, there is so many little things you pick up on when you've done it enough times. For the example above, things like clogged toilets are tenants responsibility. The only time i've had to go in and fix something one caused was a piece of glass in dishwasher drain causing it not to drain, but not really a big deal. Most of my tenants have stayed 5+ years, which is great. Finding tenants has never been a problem, if you can't rent it out in a month, price is too high.

I plan to expand to at least 10-15 rentals, that's where the real money is when you have enough to be bringing in a good income every month.

I would never own and rent commercial real estate of any kind unless the return was insane. Finding a tenant can be hard, i've moved yards a few times in the last few years and you see places up for 6-12 months. Companies can pull midnight moves or fold company leaving you high and dry a lot easier then when it's someone's house, or big damage if it's a building. You also run the risk of company going bankrupt and their crap sitting in your place for months while it's sorted out, and you don't get any rent, at least not here. I looked at buying land, it's cheaper to rent right now. I think there is a lot of guys who have owned the places for a long time and paid nothing, so it's easier to rent out for less then owning when it's free and clear, plus there is so much vacancy here.

 

[kleener]

I have rental properties, an earthmoving business, couple of tilt trays and a farm. Most profit I ever made was mowing lawns and doing property maintenance. I am well in my 60s now, and have not got the stamina to go for it, but it is a real good living. The best sidelines I found were to branch into cleaning and maintenance of complexes (common areas, garages etc) and things like tree lopping, rubbish removal, waterblasting.
There is money in muck, and keep the equipment as small and cheap as possible.
Much better to wreck a 2k mower and get another off the shelf than a 100k excavator

 

[Carolina start up]

I have 3 rental houses and couldn't be happier, I had one problem tenant who left place damaged and had to take to court but I got a decent amount. It is a bit of luck on finding good tenants, but I find just meeting them in a short time you can learn a lot about if they will be good tenants, there is so many little things you pick up on when you've done it enough times. For the example above, things like clogged toilets are tenants responsibility. The only time i've had to go in and fix something one caused was a piece of glass in dishwasher drain causing it not to drain, but not really a big deal. Most of my tenants have stayed 5+ years, which is great. Finding tenants has never been a problem, if you can't rent it out in a month, price is too high.

I plan to expand to at least 10-15 rentals, that's where the real money is when you have enough to be bringing in a good income every month.

I would never own and rent commercial real estate of any kind unless the return was insane. Finding a tenant can be hard, i've moved yards a few times in the last few years and you see places up for 6-12 months. Companies can pull midnight moves or fold company leaving you high and dry a lot easier then when it's someone's house, or big damage if it's a building. You also run the risk of company going bankrupt and their crap sitting in your place for months while it's sorted out, and you don't get any rent, at least not here. I looked at buying land, it's cheaper to rent right now. I think there is a lot of guys who have owned the places for a long time and paid nothing, so it's easier to rent out for less then owning when it's free and clear, plus there is so much vacancy here.

i just like owning land id like to own farm land to rent to the farmers but no money it the housing seems to after number 2 or 3 it all gets easier

 

[Carolina start up]

I have rental properties, an earthmoving business, couple of tilt trays and a farm. Most profit I ever made was mowing lawns and doing property maintenance. I am well in my 60s now, and have not got the stamina to go for it, but it is a real good living. The best sidelines I found were to branch into cleaning and maintenance of complexes (common areas, garages etc) and things like tree lopping, rubbish removal, waterblasting.
There is money in muck, and keep the equipment as small and cheap as possible.
Much better to wreck a 2k mower and get another off the shelf than a 100k excavator

well i was thinking about one the ihi machines for like 20k the 35n i think it was that way if someone ask can i do something instead of me finding them another contractor i can do it it wont break the bank to sit but it be nice enough to have to use

 

[kleener]

well i was thinking about one the ihi machines for like 20k the 35n i think it was that way if someone ask can i do something instead of me finding them another contractor i can do it it wont break the bank to sit but it be nice enough to have to use

If you are set on it, then the little IHI are a great machine. We started pottering around with a worn out IHI 35, we got for 6 k, now have a loooot more gear, but the old IHI, with stuffed idlers and rollers, a very worn boom, and an engine that desperately needs a rebuild, still earns at least double its purchase price each year. Wish everything was as reliable.

 

[Carolina start up]

If you are set on it, then the little IHI are a great machine. We started pottering around with a worn out IHI 35, we got for 6 k, now have a loooot more gear, but the old IHI, with stuffed idlers and rollers, a very worn boom, and an engine that desperately needs a rebuild, still earns at least double its purchase price each year. Wish everything was as reliable.

reasons im looking at them cheap price and what ive read they are strong and simple just a ugly color if i go with ill name it the ugly duck