Tuesday, January 15, 2013

Down Goes the Economy

There's a lot of earth-moving equipment up for sale lately in my area. Talking to folks, most of the construction companies are hurting for cash. Nobody is spending any money and that's hurting them bad.

If you have a family to feed, bills to pay, and payments on your equipment to make, then a downturn in business is a killer.

I'm looking to pick up some of this equipment to augment the other things I do, but I'm a bit leery. Perhaps there's about to be a turn in regulation or economics or something I'm not experienced enough to gauge.

Ah well. In for a penny, in for a pound.


Gorges Smythe said...

As long as you can afford the loss (like poker), the time to buy is when everybody wants to sell and the prices are low.

Ernest said...

Well, I bought the dump truck I was looking at today.

It's a 1966 Chevy C60 in poor condition. Got it for a great price though and I expect it's going to need about $1500 worth of work, so all told it's a great deal.

At this point I'm about $7k in on my construction biz, which isn't really a lot. I need about 100 hours of work to break even. It's time to start advertising now.