texasfishingforum.com logo
Main Menu
Advertisement
Affiliates
Advertisement
Newest Members
JD2004, Texoma89, Cooksey, chonker007, eamATXfishing
117849 Registered Users
Top Posters(All Time)
TexDawg 112,205
hopalong 110,163
Bigbob_FTW 85,870
John175☮ 83,790
Pilothawk 82,614
Derek 🐝 67,933
Mark Perry 67,883
JDavis7873 67,414
Bob Davis 64,175
Forum Statistics
Forums60
Topics1,149,726
Posts15,699,151
Members142,849
Most Online36,273
Jan 23rd, 2013
Print Thread
Page 1 of 5 1 2 3 4 5
Making a large purchase #14549625 11/29/22 04:02 PM
Joined: Jun 2011
Posts: 5,545
D
Dave-0 Online Content OP
DYSON
OP Online Content
DYSON
D
Joined: Jun 2011
Posts: 5,545
So, need some collective input. I'm wanting to purchase a large dump trailer as a investment/asset. I'mma have to borrow the money, but it's the cheapest money I'll ever have to borrow. This would be a large purchase that would not break us by any means, but still, it's gonna be a big pill to swallow. I've watched auction houses and used trailers are going for every penny of, if not more, than a brand new trailer (blows my mind) so I might as well order what I want and use the chit out of it. I know I can make money with it and pay off the loan. I'm wanting to do this NOW so I can start getting my name out there for the busy spring season.

Here's my problem. Everybody is screaming of a recession coming up. A LOT of indicators of such, are going off like signal flares, but I want to get this going. I've waited for 9 months now with out pulling the trigger and it's like now or nothing. Been listening to people spouting off the doom and gloom forever about were heading into a depression to rival world history. Hasn't happened in the last 9 months I've been hearing it. All these rumors about the entire continent is going to run out of diesel in 23 days...which was over 30 days ago and diesel has done nothing but fall in prices so far.

Would you be willing to make a $17K purchase (that you know you can make money with) right now? Like I said, not going to really hurt us financially, but it's not a small bump in the road either. Would really appreciate the OT's opinion.


Laws won't fix a sin problem. What this world needs is a revival, change of the heart. ~The Skipper

Age is a number. Old is a lifestyle.
Re: Making a large purchase [Re: Dave-0] #14549631 11/29/22 04:10 PM
Joined: Jan 2005
Posts: 12,018
P
Pat Goff Online Content
TFF Guru
Online Content
TFF Guru
P
Joined: Jan 2005
Posts: 12,018
There's a lot of businesses that are recession proof, or at least resistant.
Look at the market, the competition, and decide if the economy goes tits up, are you still in need?


Pat Goff
Seadrift TX
[Linked Image]
Re: Making a large purchase [Re: Dave-0] #14549642 11/29/22 04:21 PM
Joined: Aug 2006
Posts: 16,650
C
COFF Online Content
TFF Guru
Online Content
TFF Guru
C
Joined: Aug 2006
Posts: 16,650
Some questions you need to answer for yourself:

1. What additional costs will be required beyond the purchase of the truck? Storage, maintenance, additional equipment, labor, fuel...
2. What do you need to break even and make money?
3. Who are your customers?
a. if individual consumers, will this be a service they still use if they lose their job?
b. if corporate entities, are they in industries that are likely to be hit hard by a bad economy?
4. What is your competition? Can they squeeze you out, either by underbidding jobs, or through better market placement?

Don't feel like you have to answer this on the forum. These are just generic questions that could apply to any business venture. Hopefully it gets you to look at this thing from all angles, not just through the dollar bill goggles you get when you have a big idea.


Re: Making a large purchase [Re: Dave-0] #14549644 11/29/22 04:26 PM
Joined: Aug 2008
Posts: 1,253
CaptainCrunch Online Content
Extreme Angler
Online Content
Extreme Angler
Joined: Aug 2008
Posts: 1,253
Buy it and get to work. Worst case, you can sell it for all or most of what you paid for it.

In my area, you wouldn't have trouble getting work, but you might have trouble finding help.

Re: Making a large purchase [Re: Dave-0] #14549647 11/29/22 04:27 PM
Joined: May 2003
Posts: 14,764
Chris B Offline
TFF Guru
Offline
TFF Guru
Joined: May 2003
Posts: 14,764
Things are certainly slowing down. I had electricians call yesterday and ask if they could come a few days earlier than I had scheduled them. Today I have eight electricians here doing a two man job. Supervisor said it was either send them here or home.



I hate photobucket.
Re: Making a large purchase [Re: CaptainCrunch] #14549649 11/29/22 04:29 PM
Joined: Mar 2006
Posts: 5,906
reeltexan Offline
TFF Celebrity
Offline
TFF Celebrity
Joined: Mar 2006
Posts: 5,906
Originally Posted by CaptainCrunch
Buy it and get to work. Worst case, you can sell it for all or most of what you paid for it.

In my area, you wouldn't have trouble getting work, but you might have trouble finding help.



my thoughts. go for it.


"..The pleasantist angling is to see the fish
Cut with her golden oars the silver stream,
And greedily devour the treacherous bait.
Bill Shakespeare





[Linked Image]
Re: Making a large purchase [Re: Dave-0] #14549651 11/29/22 04:34 PM
Joined: Jan 2010
Posts: 18,508
E
Emit R Detsaw Online Content
TFF Guru
Online Content
TFF Guru
E
Joined: Jan 2010
Posts: 18,508
Now or wait on buying. Other than sales, new will probably never come down since people are still buying at inflated prices. Used, well, if there is a recession, someone might look to sell off equipment and you might pick up a deal. But how much revenue will you have lost waiting on a deal?

Now or wait on Loan. Interest rates will probably keep going up for at least the short term. They might even go back up to where some of us olds remember them as normal.

Now or wait for using it for revenue. Once peoples belts tighten (if a recession happens) revenue might thin, but sometime there priorities shift from buying things to dumping things. Getting loads of gravel hauled in to do the driveway/roads. Selling their dump trailer, then having to rent or hire someone to do their project for them. Even in a recession there are opportunities. And, as long as you can still make the payments, you have an asset that once any recession is over that will probably get used a lot.

If I were you, I would do it now.

I pulled the trigger this year on several large ticket items. The backup generator for the house being the biggest once you added installation and new propane tank. Pulled the trigger because I had the money and the local Generac guy had one in stock so I didn't have to order and wait.


Wisdom has been chasing you, but you have always been faster!

Extremists want to divide us with vitriol and conspiracy theories.
Re: Making a large purchase [Re: CaptainCrunch] #14549658 11/29/22 04:44 PM
Joined: Jun 2011
Posts: 5,545
D
Dave-0 Online Content OP
DYSON
OP Online Content
DYSON
D
Joined: Jun 2011
Posts: 5,545
" Hopefully it gets you to look at this thing from all angles, not just through the dollar bill goggles you get when you have a big idea."
LOL! I know exactly of what you speak. That's why I've been putting it off so long, thinking maybe that hair brained idea will go away. Opportunity is on the horizon and it's just as bright as ever. Construction business is booming down here in Cleburne and there is new houses and developments going up everywhere. But that's just a small slice of the pie. It was mainly going to be a side hustle.

I have a lot to cleanup on my own property as well, which is what spurred all this to begin with.




Originally Posted by CaptainCrunch
Buy it and get to work. Worst case, you can sell it for all or most of what you paid for it.

In my area, you wouldn't have trouble getting work, but you might have trouble finding help.


That's honestly how I'm looking at it. So much to get done!


Laws won't fix a sin problem. What this world needs is a revival, change of the heart. ~The Skipper

Age is a number. Old is a lifestyle.
Re: Making a large purchase [Re: Dave-0] #14549670 11/29/22 04:50 PM
Joined: May 2007
Posts: 34,995
W
WAWI Offline
TFF Guru
Offline
TFF Guru
W
Joined: May 2007
Posts: 34,995
my business regrets are what I didn't do not what I did. If thats something you want to do then by all means march forward.

Re: Making a large purchase [Re: Dave-0] #14549697 11/29/22 05:13 PM
Joined: Jan 2004
Posts: 67,883
Mark Perry Online Content
Super Freak
Online Content
Super Freak
Joined: Jan 2004
Posts: 67,883
It's probably never going to be cheaper than it is right now.

Re: Making a large purchase [Re: Dave-0] #14549703 11/29/22 05:21 PM
Joined: Sep 2008
Posts: 110,163
hopalong Online Confused
Pescador Loco
Online Confused
Pescador Loco
Joined: Sep 2008
Posts: 110,163
I think there are a couple by me for sale. If not there are 2 mfrs close by also.
Call buck dandy trlrs and get a quote (only a few miles from me and will custom build).
Sitting at eye dr in denison now will look on the way home


" Hop, set the hook"!
hopalong 99,999
TexDawg 99,999
FJB! not my president by a long shot!

lake fork FISHERMANS COVE MARINA/reservations - 903 474 7479
Re: Making a large purchase [Re: Dave-0] #14549710 11/29/22 05:23 PM
Joined: Sep 2008
Posts: 110,163
hopalong Online Confused
Pescador Loco
Online Confused
Pescador Loco
Joined: Sep 2008
Posts: 110,163
Do you have ag exe.ption? If so it will save you a ton on sales tax


" Hop, set the hook"!
hopalong 99,999
TexDawg 99,999
FJB! not my president by a long shot!

lake fork FISHERMANS COVE MARINA/reservations - 903 474 7479
Re: Making a large purchase [Re: Dave-0] #14549712 11/29/22 05:24 PM
Joined: Sep 2005
Posts: 27,147
Brian Spagnola Offline
TFF Guru
Offline
TFF Guru
Joined: Sep 2005
Posts: 27,147
The answer is always YES.

Re: Making a large purchase [Re: Dave-0] #14549716 11/29/22 05:25 PM
Joined: Oct 2006
Posts: 85,871
Bigbob_FTW Online Content
Big Sprocket Bob
Online Content
Big Sprocket Bob
Joined: Oct 2006
Posts: 85,871
we're already in a resession.


[Linked Image][Linked Image] FJB
Re: Making a large purchase [Re: Dave-0] #14549732 11/29/22 05:34 PM
Joined: Nov 2022
Posts: 720
G
Grasshopperglock Offline
Pro Angler
Offline
Pro Angler
G
Joined: Nov 2022
Posts: 720
I wouldn't buy it using someone else's money.


I'm my own bank. Borrow the money against a CD. My bank charges me 3% to handle the books.

The only creditor is me. I'm the buyer and financer. Any hit to the money....it's my money. I can repo it while it sitting in my yard. Sending late notices to myself.

Page 1 of 5 1 2 3 4 5
Previous Thread
Index
Next Thread

© 1998-2022 OUTDOOR SITES NETWORK all rights reserved USA and Worldwide
Powered by UBB.threads™ PHP Forum Software 7.7.3