Go Back   DIY Chatroom Home Improvement Forum > Home Improvement > Concrete, Stone & Masonry

CLICK HERE AND JOIN OUR COMMUNITY TODAY...IT'S FREE!

Reply
 
Thread Tools Search this Thread Display Modes
Old 06-26-2012, 12:45 AM   #1
Member
 
Join Date: Mar 2010
Posts: 368
Share |
Default

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.

tibberous is offline   Reply With Quote
Old 06-26-2012, 06:31 AM   #2
Member
 
Join Date: Sep 2011
Location: western Ny
Posts: 1,243
Default

If I bought an excavator, could that be my job?


Quote:
Originally Posted by tibberous View Post
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 View Post
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 View Post
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 View Post
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 View Post
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 is online now   Reply With Quote
The Following User Says Thank You to danpik For This Useful Post:
Tom Struble (06-26-2012)
Old 06-26-2012, 06:39 AM   #3
Member
 
Tom Struble's Avatar
 
Join Date: Dec 2008
Location: west milford n.j.
Posts: 2,785
Default

If I bought an excavator, could that be my job?


you don't become ''really good'' in a few weeks
Tom Struble is offline   Reply With Quote
Old 06-26-2012, 06:44 AM   #4
DIY staff
 
Join Date: Sep 2009
Location: Kane county,Illinois
Posts: 21,215
Default

If I bought an excavator, could that be my job?


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.
__________________
New members: Adding your location to your profile helps in many ways.--M--
oh'mike is online now   Reply With Quote
Old 06-26-2012, 06:47 AM   #5
Member
 
Join Date: Nov 2011
Location: Hartfield VA
Posts: 25,727
Default

If I bought an excavator, could that be my job?


Then your going to need a trailer, a dump truck, ect.
It would be a fun toy but not much of an investment.
joecaption is offline   Reply With Quote
Old 06-26-2012, 09:47 AM   #6
World's Tallest Midget
 
Mort's Avatar
 
Join Date: Nov 2008
Location: Twisp, WA
Posts: 674
Default

If I bought an excavator, could that be my job?


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.
Mort is offline   Reply With Quote
Old 06-26-2012, 09:53 AM   #7
Member
 
Join Date: Jun 2012
Location: Phoenix AZ
Posts: 452
Default

If I bought an excavator, could that be my job?


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 !
CopperClad is offline   Reply With Quote
Old 06-26-2012, 02:33 PM   #8
Member
 
Join Date: Oct 2009
Location: Minneapolis, MN
Posts: 490
Default

If I bought an excavator, could that be my job?


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
Beepster is offline   Reply With Quote
Old 06-26-2012, 03:01 PM   #9
Member
 
Join Date: Mar 2010
Posts: 368
Default

If I bought an excavator, could that be my job?


Quote:
Originally Posted by CopperClad View Post
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.
tibberous is offline   Reply With Quote
Old 06-26-2012, 03:03 PM   #10
Member
 
bubbler's Avatar
 
Join Date: Oct 2010
Location: North Shore MA
Posts: 481
Default

If I bought an excavator, could that be my job?


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.
__________________
My advice is based on anecdotal knowledge or personal experience. I'm not a professional no matter how matter of factly I may say something
bubbler is offline   Reply With Quote
Old 06-26-2012, 07:54 PM   #11
Member
 
Join Date: Apr 2012
Location: Va Beach, VA
Posts: 237
Default

If I bought an excavator, could that be my job?


Quote:
Originally Posted by CopperClad View Post
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

TRUEPRO is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Bought a foreclosure (new guy) Marqed97 Plumbing 4 03-19-2011 12:40 PM
Just bought a home wpcurry Introductions 1 10-05-2010 12:09 PM
Bought tools today, good or bad deal? Mr. Michael Tools 3 02-13-2007 12:39 PM
bought first home, laundry list of to-dos! ><(((jan(((D> Introductions 12 08-31-2006 06:15 PM
backing out of the house i bought this old house Building & Construction 9 11-19-2005 12:56 PM




Top of Page | View New Posts

Copyright © 2003-2014 Escalate Media. All Rights Reserved.