How the Top 1% of Home Service Businesses Use DEBT

[@UziBlancoOfficial]

Just started up as a sole proprietor back in August doing landscaping and lawncare in my area. I know it's like the worst time of the year to start this type of business. Definitely earned a sub for the 4L part my boy!!

[@MikeAndes]

Let’s gooo! Congrats!!

[@UziBlancoOfficial]

@@MikeAndes watching your video "complete guide to building a 1M dollar home service business" right now lol 🤙🏻

[@wallye8713]

Love the Guerrilla marketing videos. Wrapped my first vehicle 7 yrs ago for $3500 within 30 mins secured a project that paid it off in 7days from a property Mgr whom saw me driving it. since then our trucks avg 30k per year in revenue. That said just installed QR code on truck to which they can book and schedule automatically right from phone. 3 weeks later going to 21/2 times the 30k to 75k per truck imho….

[@vicentezamora8184]

Use debt wisely. I started a pressure washing business this year so prioritizing expenses is key. 1k yard signs/ 10k doorhangers, dented van 4k, mid level equipment 20k. So far 5k in debt left and adding higher ticket jobs to incresase profits using the same client database.

[@brushmasterspaintingfranchise]

dang mikey stepping up your video production value and editing. looking great!

[@MikeAndes]

🙇

[@Zaxk-m]

I’m starting a lawn care business this spring and your videos help me a lot!

[@Zaxk-m]

Also, what time should I start advertising my business for the spring? FYI I live in an area that gets snow in the winter

[@MikeAndes]

Start website now and get reviews. Get ready to grow in Spring Rush ✅

[@Zaxk-m]

👍will do!

[@snippys169]

Awesome video like always

[@MikeAndes]

Thank you for watching!

[@WhiteOakNW]

Kudos to Mike and the production team for a very well done video.

[@MikeAndes]

🙏🏼👏🏻

[@TheGreatEscape77]

this is amazing.. and all for free?!! people pay thousands for this info in college.. thank you so much. your videos are getting great by the way lol

[@FellowFrosty]

I’ve always been afraid of debt because of seeing it used poorly. Thanks for breaking it down and showing how debt can be useful. If you know what you’re doing. 👀

[@MikeAndes]

Glad it was helpful!

[@doculockllc4445]

Great video Mike. I like the cash vs debt breakdown. I agree that it really comes down to risk tolerance...good food for thought.

[@MikeAndes]

Boom. Thanks for watching

[@Bodie2020]

I recommend buyong used white trucks. Put stock aluminum wheels on hem and keep them clean. Buy used trailers and re paint them and keep them clean. Older reliable equipment is the best. We buy Inop equipment and trucks and I rebuild and repair them and the mowers over the winter. I take things that people get rid of and make them new looking and working. I can rebuild anything (motors,trans,rearends,hydraulics,and more). We keep spares of everything so there really isn’t down time!

[@tennesseesawmillguy1590]

Mike banging out tempo on these videos. 💵

[@lifeisoptions8403]

Good video on basics , wish putting money into lead generation was closer to 10% of net profit versus 50 or over 100% at times

[@Lawn-Stewards]

Thanks for that advice. 👍🏻

[@Muhammad.M08]

Whats your take on leasing trucks?

[@ER-pc3dx]

I would also like to hear his answer to this question.

[@wallye8713]

@@ER-pc3dx agreed… Guessing mileage driven per year is part of the answer. I know a pest control firm that leases a part of there fleet as they are all not needed off season.. he pulls them from road in the winter and somehow reduces there insurance costs as well.

[@thewhiteknight02]

Rather pay interest on new trucks and equipment than 2 full time mechanics.

[@BrianStaley-t8c]

I love it Keep up the hard work!!!

[@MikeAndes]

Thank you! Will do!

[@Alix-santana]

Thank you for the video!

[@EstrellaLawns]

There is KitKats on the website or at blue collar summit?

[@MikeAndes]

Much better treats 🤣

[@EstrellaLawns]

@@MikeAndes I wanted Kit Kats! 😤

[@jaretproulx1394]

With the price of lumber I really hope those 2x4 found a purpose 😭

[@MikeAndes]

😅 brought to you by the “inflation reduction act”

[@jamesrecknor6752]

@@MikeAndes You know it

[@Rockdj9133]

What if I save up 10k and get an auto loan for 8k to get the truck ?

[@MikeAndes]

As long as that $10K is put to better use than the interest paid on the loan … and you have risk assessment that makes it worth it

[@chrishayes5755]

Why not just get a 5k truck and put the rest into a trailer and other equipment. What you need an 18k truck for if you're pretty broke and only have 10k. I bought a decent 2010 grand caravan for a home service business I run, cost me a grand total of 5k. Zero break downs or issues after 2 years driving it.

[@Pemo98339]

Mike Andes took the Tigran Gertz pill 💊

[@MikeAndes]

All I need is a lambo now 😅

[@Pemo98339]

@@MikeAndes legend 😆

[@wallye8713]

I’m first….

[@bikes7777]

Please stop promoting debt, especially while interest rates are so horribly high.

[@bengman95]

If the numbers don't math, then don't use debt! He used 10% in his example. What rates are you seeing for collateralized debt?

[@wallye8713]

@@bikes7777 you kidding me. He’s informing. I’m old, been small bus. Owner for 44 yrs debt is fair. I borrowed at 18% with no debt perfect credit in 1990

[@bikes7777]

@@bengman95 I never finance anything other than my home. Ever.

[@WhiteOakNW]

They are not horribly high. They were horribly high in the 80's. Interest rates are fairly average right now.

[@bikes7777]

​@@WhiteOakNW so you have no problem paying 7% mortgage or 12% car loans? My mortgage is 2.6%, and I have zero other debt.