Trying to expand in this credit market

[chh]

Nice rig! We had one of them working on our property ahead of a seismic survey crew. It was really amazing to watch it work. (From a very safe distance I might ad). It is always nice to see someone finding work and expanding instead of sitting in the coffee shop complaining that there is no work.

About 5 years ago we paid everything off and made the jump to running our business and personal lives without the banks "help". It is amazing how nice it is to get paid and not have to run to the bank with it to cover a payment. That is not the way it is commonly "taught" to do business today and it does take time to work to that point. Just something for you to think about.

 

[Pfm1011]

Tight credit market also means equipment isnt selling, keep that in mind when beating up the seller on price. 1500 hours is 1500 hrs of depreciation

200K is alot of money , be sure you have the contract. Cut a deal with the seller which is basically a right to purchase and then you can tell your customer you have the unit .

 

[cbturf]

I usually do not buy anything that I do not need and might not be able to pay for. I will not add a machine unless I have contracts to pay for it, in fact if I get the huge contract that I am hoping for this machine will be paid off in six months. And if I do not get the contract then I will not buy the machine. I will not get myself in the kind of spot where I have to work for bare minimum just to pay the bills. I have made more than a few mistakes in my life and I try not to make each one more than once. I am not very smart but I'm not very stupid either.

 

[cbturf]

I got a few new pics of the Tigercat. It looks like I have a deal to take her out west. I now need budget aproval on my big contract and she will be mine. I ran it some more and mulching in this thing will take a while to get used to. It is very different sitting 1/2 mile up in the air.

 

[Renze]

About 5 years ago we paid everything off and made the jump to running our business and personal lives without the banks "help". It is amazing how nice it is to get paid and not have to run to the bank with it to cover a payment.

If more people realised that credit also has a price, it wouldnt be so bad now... In Europe the markets went up for 2 days, after governments took measures: In Holland, the government took over 1 bank, and injected money into another. Elsewhere in Europe they have took actions too. But since the Icelandic IceSave internet bank went bankrupt (where lots of mainland Europeans have a savings account) the mood in the stockmarket swung down...

I want to tear down some old pig barns, my father turned 65 this year and quit raising hogs. I reckoned at 28 Eurocent per kg i had 3000 Euro worth of scrap in each of 4 barns, but in a month the price dropped to 12 cent. Also the cost of hauling off debris will double, because most crushed concrete will end up as foundation for newly built highways... In these economic times, the government doesnt invest in highways so you have to pay big time for disposal at crusher plants.

I think i can make the best of it by taking advantage of the lower steel price, now its time to buy steel to build a jaw crusher, which i can rent to others as well, that dont want to pay twice, once for hauling off rubble, and again for hauling in crusher run to pave their farm roads...

Making money, especially if you run a business, and in a lesser extent when you're employed, are all about taking chances while avoiding risks.