Comments on: I got $120K & want to get a piece of construction equipment to start a business: Well Drilling? Back hoe?

By: Bricky Local 9 PA

Bricky Local 9 PA — Sun, 05 Oct 2008 12:33:22 +0000

this is diy , right?…and most of us try to do our own work…if there isnt a decent rental place in your area , i would look into this…i own a lot of tools and machines but sometimes i need a tool or small machine that would not be worth buying…if there are other rental places near you…forget i called…

By: harry m

harry m — Sat, 04 Oct 2008 23:19:37 +0000

Listen, with all due respect to the other answers, here are a few things you need to think about. First, have you already paid the taxes on the $120,000.00 If not, based on how you recieved it you will pay different percentages towards taxes. You may find out that you already have a whole lot less to work with from the start.
Second, once you have resolved the tax issue, you need to look at yourself and determine what your abilities are. No piece of equipment or real estate will make money for you. You MUST know how to use the product to maximize its potential. Real estate right now is something that unless you know what you are doing could leave you with less money in your pocket than you started with. If you don’t already have a Masters degree and have the ability to invest $120,000.00 in an education, this would be far more profitable than almost any venture you could get into. A person with a Masters Degree in business can earn more money in a year than most people in N.C. see in their lifetime.
Finally, if you are determined to spend this money, this says a great deal. The fact that you are coming to a web site that is pretty much littered with people who don’t understand how to handle money says that you need to talk to an investment expert. Look, I’m not trying to say that the advice you were given here is wrong, except for the tree service, however, I am 42 years old, have a MASTERS DEGREE in BUSINESS and am semi-retired from my own Heating & air conditioning corp. I am speaking from experience. My business is one of the most profittable ones out there. You might want to think about going and getting a two year Assoc. Degree in HVAC-R and working for 4 years in the trade and then go into business for yourself. While you are going to school apply for aid and talk to an investment advisor who can help you plan the best way to invest the money and maximize the profit from it. I hope this info helps.

By: OGStilts

OGStilts — Sat, 04 Oct 2008 19:36:18 +0000

If you have $120k to invest why don’t you consider investing in real estate. There is no better time than to buy now. There are good deals to be had in this market. You could consider either flipping a house or a buy and hold property where you rent it out and create some cash flow. I’m a G.C. and see sub-contractors who do know what they are doing lose everything they have and I get the impression you don’t know what you are doing so what makes you think you can do a better job than the guys who have been doing it for 20 years. You can learn how to invest in real estate and start part time if you wanted but I stress you MUST learn proper investing techniques first before you start investing. Don’t waste your money on those so called guru’s you see on the infomercials either. There are plenty of websites out there where you can learn from other investors for free. Buying a crane that you might not know how to operate and drumming up business from connections you may not have is going to be a long road to financial security.

By: jim1

jim1 — Wed, 01 Oct 2008 10:10:53 +0000

if you have expertise in an speific area that would be a starting point
because to start out you have to keep overhead down
paying someone to operate equipment cuts into profit
if you cant do a competent job operating any of the named pieces of machinery why bother to get the m

By: scout485

scout485 — Mon, 29 Sep 2008 17:07:36 +0000

Well, what first do you have expertise in– if you have never drilled wells, for example, that should be near the bottom of your list. Lots of demand for backhoe and bobcat services, though. Basic trucking of soil, stone, sand, debris, etc also does well. Also depends on how well you can sell yourself and your business services. Talk to a local university, they often have a business development program you can get free help from, the state probably has one as well that can help guide you in all the business requirements you would need to know about–also free. Take your time and do your research and it will be worth it. Good luck!

By: William B

William B — Sat, 27 Sep 2008 20:06:37 +0000

CD,s Bond,s Treasury notes,
if you don,t know how to operate any of there’s how will you do it? not only will you have to buy equip, but there’s lic, fees insurance, paying a wage, benefits, health ins,
invest into a company that’s already operating.
buy a trencher from harborfreight.com
to play with,

By: NBForrest

NBForrest — Thu, 25 Sep 2008 13:38:24 +0000

tree pruning,
those guys make a ton of money. i had to have a tree cut back away from my house for insurance reasons.granted it is a big tree about 100 years old,but they were only here for about 5 hours and it cost $1200

By: mom of a boy and girl

mom of a boy and girl — Wed, 24 Sep 2008 02:10:01 +0000

I think if I were you, I would go to a business just like the one I want to start up and ask the owner/boss if he is willing to give you some advice to just start out…He may surprise you
Secondly, you do know that you should have some schooling, knowledge in the field in which you are to begin business…?
good luck