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Re: Making a large purchase
[Re: Bigbob_FTW]
#14549737
11/29/22 05:36 PM
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Joined: Jan 2018
Posts: 4,942
Notaguide
TFF Team Angler
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TFF Team Angler
Joined: Jan 2018
Posts: 4,942 |
we're already in a resession. Interesting this keeps being said. I can't throw a rock without hitting someone's new car.
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Re: Making a large purchase
[Re: Dave-0]
#14549738
11/29/22 05:38 PM
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Joined: May 2002
Posts: 81,483
Bob Davis
Bunkeroid Bob
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Bunkeroid Bob
Joined: May 2002
Posts: 81,483 |
You could most likely get some of your money back should the bidenflation continue spiraling up exponentially. Also, there is also no such word as "I'mma." Please refrain from using that unless you suffer some brain injury or something. $17K is not that big o deal either. New cars and trucks are at least $50K and up, same with boats and RVs. Go for it!
Foxtrot Juliet Bravo
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Re: Making a large purchase
[Re: Dave-0]
#14549740
11/29/22 05:38 PM
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Joined: Dec 2011
Posts: 2,443
JCBYEN
Extreme Angler
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Extreme Angler
Joined: Dec 2011
Posts: 2,443 |
Just do it! Find the best deal and go for it. Plus, you can write it off this year's taxes.
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Re: Making a large purchase
[Re: Dave-0]
#14549745
11/29/22 05:41 PM
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Joined: Sep 2005
Posts: 28,188
Brian Spagnola
TFF Guru
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TFF Guru
Joined: Sep 2005
Posts: 28,188 |
DAVE-O you wouldn't believe how many people I sell trucks to that do the dump trailers. I tend to quiz business owners how the operate. It sounds like an aweful good side hustle that could turn into a full time gig.
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Re: Making a large purchase
[Re: Grasshopperglock]
#14549748
11/29/22 05:42 PM
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Joined: Sep 2005
Posts: 28,188
Brian Spagnola
TFF Guru
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TFF Guru
Joined: Sep 2005
Posts: 28,188 |
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. That's awesome that you can do that, not an option for everyone.
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Re: Making a large purchase
[Re: Mark Perry]
#14549751
11/29/22 05:44 PM
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Joined: Jun 2011
Posts: 6,243
Dave-0
OP
DYSON
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OP
DYSON
Joined: Jun 2011
Posts: 6,243 |
Do you have ag exe.ption? If so it will save you a ton on sales tax I do for my tractor, yes. But land wise, no. It's probably never going to be cheaper than it is right now. Totally agree with this, honestly. My importer friend keeps telling me it will be cheaper in 2nd quarter next year. By what... $150? I would make twice that in one rental/delivery.
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.
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Re: Making a large purchase
[Re: Chris B]
#14549752
11/29/22 05:44 PM
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Joined: May 2004
Posts: 13,654
Tiltman
TFF Guru
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TFF Guru
Joined: May 2004
Posts: 13,654 |
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. Our house build in Rockwall went from Slab mid Sept to ready for Sheetrock and Masonry today so they have accelerated the ones where customers have hung in there and paused all the drop outs. Interest rates creeping the right direction too fingers crossed.
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Re: Making a large purchase
[Re: Dave-0]
#14549761
11/29/22 05:55 PM
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Joined: May 2019
Posts: 6,717
avid_basser
TFF Celebrity
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TFF Celebrity
Joined: May 2019
Posts: 6,717 |
One thing to remember in all of this...gas / diesel prices.
As gas prices fluctuate, so can your profit margin. If you plan your rates accordingly, then you'll be good.
We had a few around here and they have all been busy recently, but when the gas was high, they were not listing their services as much and their quotes seemed to reflect the gas hike.
Last edited by avid_basser; 11/29/22 05:55 PM.
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Re: Making a large purchase
[Re: Dave-0]
#14549768
11/29/22 05:59 PM
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Joined: Jun 2010
Posts: 5,753
David Welcher
TFF Celebrity
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TFF Celebrity
Joined: Jun 2010
Posts: 5,753 |
Been in Construction for 45 years. DFW is a pretty safe place to be in Construction when it comes to a recession. We are in a recession right now, but all those folks who held off on building when covid came down, most have still been holding off because of supply and demand, when this little slow down is over it will take off again quicker than any place in the US.
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Re: Making a large purchase
[Re: Dave-0]
#14549788
11/29/22 06:11 PM
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Joined: Aug 2008
Posts: 1,582
CaptainCrunch
Extreme Angler
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Extreme Angler
Joined: Aug 2008
Posts: 1,582 |
Could you also use this trailer for hot shot deliveries while your primary business is ramping up?
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Re: Making a large purchase
[Re: CaptainCrunch]
#14549830
11/29/22 06:49 PM
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Joined: Jun 2011
Posts: 6,243
Dave-0
OP
DYSON
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OP
DYSON
Joined: Jun 2011
Posts: 6,243 |
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. Although I don't have that option, my credit union has me locked in at 4.25% right now. And I know if anything, I will always be able to make the payment. Could you also use this trailer for hot shot deliveries while your primary business is ramping up? That was part of my agenda, equipment and supply deliveries. The trailer is going to be 18K lb GVW so I can haul most anything my truck will pull...and my truck is a well maintained pulling machine. Have my CDL, so I'm ready to go! Skid loaders, mini excavators, bricks, sand, gravel, dirt, mulch, tractors, Mama June.... Oh HELL! I didn't know she was monitoring this thread!!!
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.
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Re: Making a large purchase
[Re: Dave-0]
#14549832
11/29/22 06:49 PM
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Joined: Jun 2011
Posts: 6,243
Dave-0
OP
DYSON
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OP
DYSON
Joined: Jun 2011
Posts: 6,243 |
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.
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Re: Making a large purchase
[Re: Dave-0]
#14549861
11/29/22 07:15 PM
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Joined: Feb 2009
Posts: 38,366
Kattelyn
Little Psycho Coffee
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Little Psycho Coffee
Joined: Feb 2009
Posts: 38,366 |
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. Yes. Absolutely. If you feel comfortable and the money is right, go for it. We did pretty much the same thing with the solar and battery combo. The economy as a whole isn’t about to tank. We’re dealing with a little bit of remaining backup due to the pandemic, and a little bump due to the tariffs on China from a few years back. We’re going to have some problems due to the harvest disruptions in Ukraine messing up European markets and creating a ripple effect of need from further sources. But it’s not going to get much worse than now over the next 6 months, and then I think it’ll lift barring anything else blowing up.
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Re: Making a large purchase
[Re: Kattelyn]
#14549896
11/29/22 07:37 PM
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Joined: Jan 2007
Posts: 14,566
Happykamper
TFF Guru
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TFF Guru
Joined: Jan 2007
Posts: 14,566 |
Go for it, I started my first business in 1985, not a great time, it is still going strong, started another business in 2008, not a great time, it is booming now, good luck.
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Re: Making a large purchase
[Re: Notaguide]
#14549996
11/29/22 09:14 PM
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Joined: Oct 2006
Posts: 94,889
Bigbob_FTW
Big Sprocket Bob
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Big Sprocket Bob
Joined: Oct 2006
Posts: 94,889 |
we're already in a resession. Interesting this keeps being said. I can't throw a rock without hitting someone's new car. Be that as it may be, by definition, we are in a recession.
FJB
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