O/T - Need Some Advice

Sounds to me you already have things figured out, but if the machine shop business won't pay for itself ( shop, equipment, + a fair wage for your time) without having to sacrifice, maybe you need to start a little smaller ( money wise) and then move on to the higher dollar shop when the business shows you it can provide, you can always go bigger. If your worried about selling a $20,000 truck right now to make ends meet for what you want, think about trying to sell a $275,000 piece of property if things don't work out to make ends meet and keep piece in the household. Sounds to me that you have a pretty good job, probably with lots of benefits. Don't forget about what your losing by giving that up. I'm not trying to tell you what for, but 5 more yrs. down the line with the job you have, saving and illiminating payments could be a wiser thing to do. You said that all you really wanted to know was how to sell this truck, if thats the case place an ad in the paper and wait for the calls, at a reasonabla price it won't last long.

Good luck,

Bill
 
B . Buxton said:
If your worried about selling a $20,000 truck right now to make ends meet for what you want, think about trying to sell a $275,000 piece of property if things don't work out to make ends meet and keep piece in the household.
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Its not that I need to sell it to make ends meet. Not that at all. I'm just looking for ways to make it better. I want to buy a new lathe and a new mill. Those I can easily do once I repay my existing business loan - which incidentally is getting close to being paid in full.

I could buy the shop right now if I continue to work here. I don't want to do that, so I'm just juggling my money and bills around and trying to see how it falls in place. I've made several models of projected business, and the shop will support itself in overhead and other costs from simple machine work. All the other stuff I have planned should be gravy, so paying for it isn't a problem. This thread started with just an idea that popped into my head about losing the monthly cost of my truck, and what I would rather spend the money on.

In the end, all I want is a place I can immerse myself in my work. My shop at home is fine, but I have outgrown it. Time to take the next step. :)
 
Simply put, take every bill you have, and remove the incidentals fromt he list (utils, phone,etc). Now you should be left with vehicles, house, and whatever other loans you have outstanding. pay off everything you can now. You said your business loan is close to paid off. Pay it off.

Now take the extra money you have every month from the loan payment and accellerate the truck payoff. Get it paid off. You are left with your house, and her car? You will save tax dollars by keeping her car financed, and of course your house.

Or you could sell everything, move to Alabama, and buy the same or bigger house cheaper than there, and take the extra cash and go at the knife work.

Doc
 
Doc Hollywood said:
Or you could sell everything, move to Alabama, and buy the same or bigger house cheaper than there, and take the extra cash and go at the knife work.

Doc
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Yet another Southerner dangling that carrot in front of me. Gah! Don't tempt me. I love the Southlands. Dang. :grumpy:
 
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