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-   -   If I bought an excavator, could that be my job? (http://www.diychatroom.com/f105/if-i-bought-excavator-could-my-job-148284/)

tibberous 06-26-2012 12:45 AM

If I bought an excavator, could that be my job?
 
In 30 days I'm getting $60,000, but I don't know what to do with the money. I was thinking about buying this:

http://pittsburgh.craigslist.org/grd/3100797037.html

I could spend a few weeks leveling my yard, digging different holes - basically just get really good at operating it.

Think I could then make money operating it? I could dig septics, trenches, holes - whatever anyone needed. Plus my buddy has a landscaping company with like 80 clients, so they might need stuff dug.

Figure I could hire a helper, to measure stuff and keep me level and watch no one ran in the way.

What are your guys thoughts of the idea in general? I know there are some details to sort out, like insurance and forming an LLC. - I'm just wondering if it would be a good way to make money.

danpik 06-26-2012 06:31 AM

Quote:

Originally Posted by tibberous (Post 951754)
In 30 days I'm getting $60,000, but I don't know what to do with the money. I was thinking about buying this:

Well, it is your money. I know I would look at a better investment vehicle for it but that is just me.


Quote:

Originally Posted by tibberous (Post 951754)
I could spend a few weeks leveling my yard, digging different holes - basically just get really good at operating it.

At least be sure to call Digsafe, Underground or whatever the locator service is called in your area. I would also check with the local zoning people to be sure there are no regulations on this in the area. Guys in my area that do this have years and years of experience operating these machines.



Quote:

Originally Posted by tibberous (Post 951754)
Think I could then make money operating it?
I could dig septics, trenches, holes - whatever anyone needed. Plus my buddy has a landscaping company with like 80 clients, so they might need stuff dug.

Contact your insurance guy to see how much a $1,000,000 + policy will cost you. Also , Septics need to be done, at least in my area, by a certified installer

Quote:

Originally Posted by tibberous (Post 951754)
Figure I could hire a helper, to measure stuff and keep me level and watch no one ran in the way

.

Need to brush up on Workmans comp, Social Security, payroll income tax, Etc...

Quote:

Originally Posted by tibberous (Post 951754)
What are your guys thoughts of the idea in general? I know there are some details to sort out, like insurance and forming an LLC. - I'm just wondering if it would be a good way to make money.


Tom Struble 06-26-2012 06:39 AM

you don't become ''really good'' in a few weeks

oh'mike 06-26-2012 06:44 AM

Go to Contractor Talk and read up on how many excavating companies are going bust--

You need to be a very good salesman---business manager--and book keeper--

If you possess those skills---then you can succeed.

There are already enough people who know how to dig holes---only the salesmen will survive.

joecaption 06-26-2012 06:47 AM

Then your going to need a trailer, a dump truck, ect.
It would be a fun toy but not much of an investment.

Mort 06-26-2012 09:47 AM

Save your money. If having an excavating company were that easy, everybody would be doing it.

I noticed that $45K didn't include that nifty trailer, or a medium duty truck to tow it. Or a dump truck to put the material in.

CopperClad 06-26-2012 09:53 AM

60K ? Take the year off and come up with a different plan. Take in every Steelers game you can! (we will miss you Ward) Sounds fun though, and if that's where your heart is then go for it !

Beepster 06-26-2012 02:33 PM

Who do all these posters think they are, your wife? Raining on your parade? Crushing your dreams?

I say go for it. Get yourself a new little toy and go start having some fun. I could putz around the farm on my skidsteer all summer long.

And i could use a slightly used excavator for around $20k in a year or so...oops, I guess i am like everyone else here.

B

tibberous 06-26-2012 03:01 PM

Quote:

Originally Posted by CopperClad (Post 951923)
60K ? Take the year off and come up with a different plan. Take in every Steelers game you can! (we will miss you Ward) Sounds fun though, and if that's where your heart is then go for it !

At which point I might have a great plan but certainly no money :)

Sucks about not being able to do septics though, what was a big reason I thought it would be cool to have.

bubbler 06-26-2012 03:03 PM

From the CL posting:

" like new condition, out of business sale. "

I think that says it all.

If don't have a job, or don't have one you like, then I'd use that $60K to buy the time/education I needed to do something different.

If you do have a job, and you like it, then an excavator as a side or full time business would be the last thing I'd waste that money on.

TRUEPRO 06-26-2012 07:54 PM

Quote:

Originally Posted by CopperClad (Post 951923)
60K ? Take the year off and come up with a different plan.

This could easily be the worst idea iv ever heard. Take a year off? haha there goes half the money. 60k aint ****. If you interested in starting a excavating business heres a few things to think about:

First, dont use 75% of your capital on a depreciating asset. Rent a machine for the first few jobs till you get the hang of it. Plan on spending your money strategically. With the right moves, patience and a fierce work ethic, you can make 60k turn into much more. I began with very little start up and now own and operate a 6 man masonry/contracting business.

Some contractors like to know if you have a your equipment certification or equivalent . Easy to get and is a great selling point when trying to land more jobs.

Are you already set up to use this machine? Truck, trailer, storage/material property?


****IF YOUR SERIOUS ABOUT DOING THIS BUSINESS, WHY WAIT TILL YOU GET THE MONEY? IN THE CONSTRUCTION WORLD, TIME IS MONEY. THE MORE TIME YOU SPEND GETTING YOUR NAME OUT THERE AND BEATING THE STREETS, THE MORE MONEY YOU CAN MAKE. #HUSTLEREALHARD


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