My Critique of Tigran "$366,000 in Debt" Gertz (IS @Tigran Gertz WRONG?!)

Hey everyone, it's Mike Andes and you're listening to the Landscape Business course. And today I'm talking about Tigrin, $366,000 in debt. Gertz I think is his last name. I'm going to talk about a video that he recently made about debt and his payments and all the equipment that he has. And yeah, I'm sure some people will not like this video, but please, before you leave a bad comment, watch the whole video and see my breakdown of why I'm doing this. So first things first. By the way, I have not. I never make notes for.

My shows, never. I almost always do these reaction videos like live. I watch and I react at the same time. I've watched Tigran's video about his debt about five times. I've watched several videos in the past to get the data that I'm going to be showing you today. So if you appreciate my time, please drop a like and drop a comment about how this might have helped you or maybe you disagree, but please watch the whole video before you talk about your disagreements. Alright, so first of all, and this is, I'm saying this because I genuinely mean it and because I know Tigran will probably end up watching this video. Number one is my intention in making this video is not to hurt Tigran or say bad things about or hate on him at all. I want to create balance and context. That's the bigger part. Context to what Tigran was saying in his video. And I wish Tigran nothing but the best. He has built a great business and based on what I've seen, I think it does over 3 million in revenue. So awesome. Kudos to him. Young guy kicking butt and hats off to him for creating an awesome, awesome business. And like I said, I think it's probably 3 to 4 million in revenue. However, I had to make this video because over the past about a week and a half, almost two weeks, I guess I've had two different individuals landscape business owners talk to me and they both purchased a ditchwitch specifically because of Tigran's videos. Now both of these individuals were under the age of 22 and both of these individuals made less than 200,000 in revenue in 2020. One had been in business for four years, the other, this was his first year in business. Both bought a ditchwitch machine that was worth both of them worth well over $50,000. And both of them referenced Tigran without me acknowledging or bringing it up. They both acknowledged him for why they purchased that machine. Okay, so first couple things before we break out numbers. I'm in front of a whiteboard, in case you're listening to this on the podcast. I'm in front of a whiteboard. I'm gonna break down some numbers here in just a moment and break down my analysis. However, before we do that, let me just say a couple things. And I'm not accusing Tigraine of doing this, but I think that some people would watch that type of video and get this inclination, and that is don't brag as a business owner about how much you owe. Like, don't brag about it. Right? Debt is a part of business. Debt is a fundamental part of growing a company. But don't brag about that. There's nothing to be proud about when you're in debt. Okay? And I know part of this for Tigran's defense. He's doing a lot of this stuff to be able to get publicity and it does great on views. And kind of emphasizing the debt side raises eyebrows. So I get all of that. I get all that. He does a great job at creating great videos and great content. I do watch his videos. Don't get in debt just to raise your credit score. He alluded to this at the end of his video, that it's great to have this debt because now he can go into any bank and he can ask for a loan and they give him more money because he has a great credit score. Alright? You can get a great credit score simply by having a good business line of credit and a business credit card that you pay off on a consistent basis. And when you go into a bank and you have a lot of cash, they also want to give you a lot of money. Having a lot of debt does not mean your credit score is better. Paying off your debt and paying on a consistent basis on your payments is what raises your credit score. Alright, so now let's break out the numbers and jump right into it. So this is from his videos and I'm not making any of this stuff up. I rounded some of these numbers off just for the sake of my analysis. And forgive me that I am looking down, usually I don't do that, but I wanted to make sure I do everything correctly in terms of my analysis. So first thing I want to break down is his monthly financing costs. So what he's paying every single month for his trucks and equipment. And I know that some people are gonna say, well, and this was the premise of the argument, is that as he pays things off, it might take him four Five, six years. But that once he's done paying it off, he owns it and he doesn't have to have payments. The problem is if you look at someone like Tigran and he's admitted to the fact that he had a 2016 truck and he's like, oh, it's kind of getting old. I'm gonna get a new one. Guess what? Almost five years. Exactly. Which basically means it's not like he's paying these things off and then living in payment free zone. Basically someone like him is getting new equipment the moment that they pay the thing off. And I'm not just a big, I'm not a big fan of that anyways. But again, I don't want to be critical. Monthly payments. Here we go. So we got first of all, again, you can watch Tigran's video. Please watch his video, subscribe to his channel. Great guy loves love you tigrin. Number one, $1,200 per month. And this is for a track loader, alright? And this is in the order that he shows these in his videos. All right, number two, we got an F150 that has a $1,250 per month.

Payment. Sorry, F550, I think it's a dump truck if I remember correctly. Number three, he had his personal vehicle and $1,850 per month. So let's say this is number one truck. And then. So this is his personal F350 and this is gonna be number two truck just for the sake of this example.

Number four, he had a. Let's see here, one, two. Oh, I messed something up. Okay, here we go. Next one was he had a $1200 for another truck. And this is an F350 that is a work truck. So this is personal.

Okay. And then this is the number three work truck. All right, next thing that we got going on is a ditchwitch. So this ditchwitch, full disclosure, he said that he had not made a payment yet on this and it is a $52,000. He just bought this ditchwitch. It's $52,000 and he hasn't made a payment on it yet. I am going to assume that it's almost $1,000 per month for this ditch, which once he does start paying it off. And that's based upon the premise of a $52,000 machine times 60 payments. That's five years, 12 months. I'm assuming about that is what he's paying. If he got it for 52,000 plus financing charges, taxes, et cetera. I'm going to assume he's going to end up paying about $1,000 per month on this. Ditchwitch. I didn't write that in. Ditchwitch. That's its middle name right there. Ditch $52,000 witch. Alright, the next thing that he has in terms of payments that he mentions is $2,100 per month for a Caterpillar. Track loader. Track loader and X. I'm just gonna do excavator. There it is. Next thing we're gonna do. Last one is he has $1300. Sorry, I should have made all this text small. $1350 per month for his employee's truck. Hector's truck. So Hector is the name of his employee. Hector's truck is $1,350. So this would be number four. So these four, basically he has four trucks that have payments on them. Okay, So I wrote all these out. So please look at them if you like. Watch the video again. And this is exactly what he said. I rounded off these somewhat in order just to make the numbers nice and round. So at the end of the day, at the end of the day, if we add up just his monthly pay, these pieces of equipment, and again, I am going to assume that everything else is paid off like he talks about in the video. I'm going to assume he has no credit card debt, I'm going to assume he has no business line of credit. I'm going to assume he has no business loans whatsoever. His total monthly payments. So payment.

Total.

Whoops.

Is going to equal.

$9,950. Okay, so we're gonna talk about this, but before we do, I know some people are gonna be saying, oh, you're only making this video to get more views for your own self and you're hijacking other people's names. Guess what? You're 110% correct. I want this video, the one you're watching right now, to show up directly below Tigran's, to give some balance to the discussion here. Okay? Because my main premise here is that Tigran is doing what's right for his business at a 3 to 4 million run rate per year in revenue. And that someone that's just getting started, or a young guy just getting started in the landscape industry does not need a $52,000 ditch, which they do not need $366,000 in debt to become successful. When you're running at 3 to 4 million dollar business, having $350,000 in debt is not much, it's 10% of your gross revenue. If you're running a $150,000 operation and have $350,000 in debt, you are out of your mind. Okay, so let's make this stuff now bring some context to this. Alright? So we've created all of the different payments. Now let's actually draw some conclusions. So I'm gonna erase all these things. I know I'm taking the time and this is a longer video, but I think this is gonna be very educational in terms of how you should run your numbers when it comes to payments and debt when you're getting started. Again, if you're really big, $300,000 in debt and what we just wrote out there is not gonna put a dent in your operation. Now, now let's talk numbers because that's really what this is all about. So I am going to assume. So remember, this is the big magic number. $9,950 every single month in payments. Now I am going to assume that Tigran or someone in this situation is running a 15% profit margin. Alright? That means that on $3 million he is going to profit $450,000 in the bank after everything is paid stashed away. 15% is incredible. Okay. Like if he's running that lien of an operation, awesome. Kudos to him. He's doing an amazing job and I would love to see the profit and loss statements from 2019 and 2020 from him. That'd be great. I actually think it's more around 10% for his operation because the design build, lots of cost of materials, et cetera. But I'm going to give the benefit of the doubt and go far beyond my expectations. Terms of bottom line, all, everything done, including like his own salary, everything. $15,000, 15% profit. I know I'm going way above. So the numbers I'm about to show you are very conservative based upon this profit margin. Let's assume a 15% profit margin and then we're gonna determine, okay, we're gonna take $9,950 that we're paying every single month and we're gonna divide that by 15%. That comes out to be $66,333 per month. You say, well, what does that mean? That means that if you're running a 15% profit margin business, a very lean and efficient business, especially design build again, I truly believe that's more like 10% or lower. However, if we're running a 15% profit margin business, in order to Just pay. Just the payments on the equipment that he showed us. You would have to make $66,333 per month. Okay, well that's kind of cool. What about in terms of annual? You would have to make $796,000 per year just to pay the payments.

On his equipment. That's the revenue you need to make just to pay off the payments that he mentioned in his video. Okay, so I want to bring some context. If you are making $300,000, even $400,000 per year, and you have this much in payments every single month, you are running a pathetic operation that is going to go nowhere. And I know some people, they do the disguise and they're like, oh, I'm doing it to grow the business. Guess what? The business will eventually stop because you will run out of cash if you do not have a large enough amount of revenue and profit to make up the difference. Again, I'm assuming a 15% profit. I truly believe, like if we, I didn't plan on this. Let's assume a 10% profit margin, which is more likely on a 3 to 4 million dollars landscape design. If we do this, this is gonna blow some people's mind, now that I actually think about it. Alright, if we do $9,950 and we're running a 10% now let's change this to 10% margin business, we are going to have to do 99,500. I'm just doing the math in my head, sorry. That's what you're gonna have to do per month in revenue. We Times that by 12. You would literally need to have a $1.2 million in revenue per.

To pay your $9,900 per month in payments. That's incredible. Alright, now what really scares me, what really scares me, I'm gonna take this back. Actually, let's just leave it at 10% cause I actually think this is probably most accurate. So 10% profit to pay off this 99,000 per month. What this does is again, Tigran does like 3 million. So he's fine, he's fine. I'm trying to help the person who's not doing 3 million in revenue.

Now what this means is that during the winter season, during your slow season, you still have to pay this, which means you need to generate this much per month, every month of the year. Otherwise you're in the red. You literally might have months that get slower and you might be do 60 or 70,000 per month. And that's why people are freaking out like I'm making 60, $70,000 per month and I'm losing money. Yeah, because you got this massive payment that's coming out and your business literally needs to generate this much in revenue just to pay for that money right there for the payments that are coming out. This is what makes an operation be negative in cash flow during winter seasons, during times when we have economic crises. And that's what I'm very concerned about is people that get into all of this debt and now during their slow season, a big job cancels, a big contract cancels, and now all of a sudden they can't hit their monthly revenue targets and therefore their payments literally drown the business. Alright, Another thing is, we are not taking into account that when you have a big $110,000 truck, for example, like his F350, his personal truck was $110,000.

We're not even taking into account with this number here that your insurance premiums are going to be dramatically higher. If I buy a $20,000 four or five year old pickup truck, I guarantee you the insurance premiums are not anything close to a financed, brand new, $110,000 finance truck. It's just not okay. So like, when we talk about this, we're talking about payments only. We're not taking account the other things in the business that become higher expenses because of the financed trucks. When you get a leased vehicle or a financed vehicle, that lender is going to make sure you have full coverage, very low deductibles. Like literally they'll make you sure you have a $500 deductible when you're like, this is crazy. I could save literally $50 a month if I just went from 500 to 1,500. But they won't let you because it's financed. So literally this number here is lower than what the actual cost per month is of having this financed equipment. Because the difference between having a paid off vehicle, not even just an older vehicle, a paid off vehicle, is lower in terms of insurance premiums. And therefore that insurance cost isn't even reflected in this number here. Now I want to address before we finish up this video, the $110,000 purchase, which was his F350 that he bought in 2020 of January. So January 2020. So I'm making this video 11 months later, Thanksgiving Day here in 2020, I'm gonna address his $110,000 F350 truck. Okay? Okay. So again, I am not saying that Tigran is wrong in buying this truck. This is to try to warn people that are just getting started in their business that think they need to go buy $110,000 truck to make their business successful or that they need to get a bunch of debt. And that is the key to unlocking a great business. So let's break this down though because the actual price, if you go back and watch the video that Tigran made about his truck, the price of the vehicle was only $84,000. So he got a truck that was worth $84,000. He paid 110. How did that happen? Oh well, people always say.

I got 0% financing on this. Well guess what, the financing charge on this vehicle equated to a one time payment of $10,522. Then he got a warranty. So we got a warranty.

And that was about 6,000 to 7,000. He didn't give an exact number, but doing the math, this would have been 6 to $7,000. They paid for a warranty. Then for taxes he paid about $10,000. $10,000. Alright, so all in, if you add all this stuff up is about $110,000 and he financed 100% of it. Okay, so this is my concern is that I truly believe that I could pay 10,000. Just the taxes and the financing, 20 grand. This together, 20k. I truly believe that would buy a very good work truck. Alright, if you're just getting started, this is where you should be at. News breaking alert. I have never paid more. Let me actually get this right. So I don't get this right. I've never paid 20 grand for a vehicle. I know that for sure. Without me thinking, I'm thinking on the spot. I know I've never paid more than 20,000. I could probably confidently, I can confidently say never more than 16,000 and it could be less. But I'm just saying here, $20,000 gets you a good work truck. If you're just getting started. If you're doing 3 and 4 million dollars, we're not talking about you right now. 90% of the people watching this, 98% of you do not have a 3 to 4 million landscape design build company that's been in business for five and six years. And that's who I'm talking to. Okay? So for the 2% of you that have these awesome businesses, kudos to you. Kudos to you. You're killing it and you can afford $110,000 truck. But let me break down the insanity of this. If you're just getting started, okay, so we are going to now assume that he's paid 11 months. 11 months. And again, he was paying $1,850 per month on this. So we're going to Times that by 1,850. This is what he's paid in the past 11 months and that comes to 20,000. See here, $20,350 that Tigran has paid on this truck. Cause he's 11 months, $1,850. Now when I do the math on what he owed, what he owes, now he said he owes 86,000 and it doesn't make exact sense. It's a little bit off. But I'm thinking he had to pay something at closing on buying the truck. Like 4,000 or 5,000, I'm guessing because the math didn't line up exactly. But again, I'm not sure 100% there, but it's close enough. Alright, 11 months times 1850. He's paid about $20,000 in the past year on the truck. Again, if he had bought a $20,000 truck for the next four years that he's paying 18.50amonth, he could have no payments if he would have just bought a used vehicle. Now some people are saying, well, what about paying? He had to have maintenance. Like because he got a new truck, he has a warranty, he doesn't have to pay for anything. Six to $7,000 will buy you a new engine. Six to $7,000 Will buy you a new transmission. Like unless you're getting a diesel or some complicated imported vehicle. If you're getting a simple enough truck, like my goodness, six to seven thousand dollars will get you a big replacement on a vehicle. Even if you buy the vehicle again, $20,000 for a vehicle, there's a good chance you can get that truck with under 50,000, 50,000 miles and get 10 years out of it. If you treat it right before it even needs a 4 to $5,000 replacement of an engine or something like that. But if you get a simple enough truck that's not super complicated, you're not gonna spend thousands of dollars on repairs. As long as you do good maintenance, you check it every three or four months, do good analysis. My goodness. I just look at this and say, my goodness, by now he could have paid off the vehicle and for the next four years that he's going to be doing payments he would not have to be paying on that. Now again, we're not taking into account with his 1,850 that the insurance on that truck is probably double what it would be if you would have bought a truck that was paid off and maybe $25,000. So again, this number is probably more like 2,000 if we add $150 for the difference. The difference, not the total insurance cost, but the difference between what he pays for insurance versus what he could be paying if he had a 20 or $30,000 truck that was paid off. Because again, the lender is going to require you to have very low deductible and comprehensive and a whole bunch of other stuff that usually you wouldn't even have. Especially low deductible. Low deductibles. If you have some money in the bank and you've grown your business, you do not need $500 deductibles. Go save yourself some money. Go get $1,000 or $2,000 deductible as high as you possibly can. Honestly, in my opinion, if you have cash in the bank. Okay, couple more things I wanted to bring out here. Okay, so this $110,000 truck. Okay? So now one of the things people do, especially this time, this is why I'm making this video, is because we're coming to end of the year, and a lot of people under the guise of taxes, are going to buy a bunch of new equipment. Let me just go ahead and break that myth. Because one of the reasons that Tigran says he bought this vehicle is because in 2019, at the end of the year, his tax accountant called him up and said, hey, we're gonna have a problem here because we made good money. Kudos to Tigran, obviously. And we're gonna have a whole bunch of taxes if you don't do something about it. 2019, for his taxes, he wanted to buy this truck. So again, great for Tigran, but is it right for you? $110,000 vehicle. If we just take. Let's go through a little bit of math here. So usually on a vehicle, you're going to do a five year straight line depreciation. What that means is that if you have a vehicle that's worth whatever amount of dollars over the course of five years, you can depreciate the asset of the truck. Now, I did this math, and as I'm looking at this right now, I just realized that this truck is only worth $84,000. So in my math that I'm about to do right now, I'm going to assume that the truck's worth 110. So again, I'm gonna make these numbers look even better for Tigran in this case. But keep in mind the truck is actually only worth 84,000. Keep that in mind. Alright, but assuming that we're gonna take this $110,000 expense and we're going to depreciate it over the course of five years, let's see here. So if we take that, let's just assume.

$20,000 is what he was able to.

Write off his taxes in 2019. So a write off is not a deduction. What a write off means is that If I made 100. Let me do a different color here, one second here. If I made $100,000 in profit, 100k and I then went and bought this truck and I got a five year depreciation, I'd get about 22,000. Let's just say 20,000 for the sake of easy numbers. $20,000 write off for this year because I got a five year straight line depreciation, which means over the course of five years, I'd appreciate the 110,000. Now this $20,000 basically means that then I can subtract that 20,000 from my, you know, adjusted gross income or basically, let's just say your profit. All right, for the sake of this example, assuming he has a corporation, so what that's going to mean is then he's going to get taxed on $80,000 instead of $100,000. What this means? Yes, you do not save $20,000. You got a tax deduction of $20,000 and now you're getting taxed on this. What that means, if we assume not, we assume, if we look right now, the corporate tax rate, corporate tax, tax rate is equal to 21%. What that means is that by doing this operation, buying the truck, having a $20,000 write off in 2019, he is going to get approximately. Divide that by five, that's four. He's gonna get a $4,000 4K off taxes.

In 2019. Okay, so again, do I think that someone should buy $110,000 truck that's going to have inflated insurance premiums, $1,850 per month in payments because they're saving $4,000 in 2019? No, I don't. I just cannot quantify that. And some people will say, well, he's gonna get 4,000 a year after that and the year after that and the year after that. Okay, great. But you don't get a write off. The, there's no interest, remember that? There's no interest. So he doesn't get to take that off as an Expense, he's gonna simply be taking off this deduction over the course of five years as a depreciable item. Okay? So I just wanted to make it very clear that if you're going to go out and make $110,000 purchase in December because you want to save five, $4,000, don't, don't, do not go buy new things just to save yourself a couple dollars on taxes. Just my opinion. Okay? Now this idea, this idea that tax or, sorry, that debt is a good thing is absolutely an influence from Grant Cardone. And I'm not saying that's a bad thing. I know that Tigran follows Grant Cardone and goes to a lot of his conferences and hears from him. And this idea that debt is a good thing and comes from Grant Cardone, big influence on Tigran. But, but what Grant Cardone is usually referring to, I know he's referring to sometimes what Tigran's talking about in terms of business debt, but usually what Grant is actually talking about is about real estate. Because debt on appreciating assets is a great thing. Personally, I have almost no, I have over $2 million real estate debt. And I do like that debt because I can control a larger amount of assets. But the beautiful thing about that $2 million in real estate debt is that in 30 years when I've paid off that property.

That property will be probably worth 4 million, $5 million. It's appreciating. Whereas in five years, this $110,000 cost, which is actually an $84,000 truck, is probably going to be worth 30 or $40,000. Okay, so this is a depreciating asset. Depreciating. It decreases in value so much that the IRS is like, hey, you know what, we'll give you a tax deduction because of it. Whereas for my real estate, I get that depreciation, but the value of the property goes up. Therefore, I do feel that debt is great on an appreciating asset. Absolutely. And usually that's actually what Grant Cardone is talking about. Now another thing that Grant Cardone talks about is cash flow. That's how he says it, cash flow, which means every single month you're making profit, cash flowing into the business. So when I have a $9,950 payment coming out and I have to, you make so much revenue just to pay off of that debt, guess what? I'm not going to cash flow. Because my real estate, even though I have $2 million plus in debt, not only is it a depreciating asset that I also get an appreciation tax credit for. Not only that, but that is cash flowing all the time. So for that real estate debt, it's appreciating asset going up in value. I still get deductions on my taxes and I make money every single month in the form of cash flow from the rents that are being paid to me. And those rents also cover the debt of the real estate itself. Whereas in this case, I get my 5 years depreciation after that. Guess what? My $86,000 trucks is less than half in value. And guess what, if I wait 30 years, like a real estate mortgage, if I wait 30 years, that truck's probably in a scrapyard and my equipment is definitely not working anymore. Alright, so that's just my take on the $110,000 truck. Again, my opinion, and this is the funny thing is in five years, that $84,000 truck that he paid $110,000 for will be worth $40,000. Alright, so before we finish this video, I want to make this point again, using the truck as an example and just kind of point out kind of how this makes sense. So if we look at this $110,000 truck as a what some people call investment, let's look at the investment of this truck. Okay, I'm going to sell you this truck. Okay, great. I appreciate that. $110,000. Oh, by the way, it's only worth $84,000. So you're gonna pay 110. It's only worth 84. I'm not even including the tint that he put on the windows and all the rest of it, all the aftermarket stuff. Alright, but in five years, it's going to be worth, let's say 30,000. Okay? And I'm not, maybe it's 40, but whatever the truck, 110 we purchased it for, it's only worth 84. It's going to be worth 30 in a bunch of years. And a lot of people are like, oh well, you're gonna have an $84,000 asset once you finish paying off. No, you're gonna have a $30,000 asset. And by the way, that $30,000 is lost in the fact that you paid so much more for the truck by the time all this other expenses of purchasing it. So just keep that in mind. Now, what if from an investment standpoint, I said, hey, I'm gonna sell you a $1,200, you're gonna pay me $1,200 for this stock. But hey, it's only worth 900.

Worth 900. But I'm gonna sell it to you for 1,200. Okay. And in five years, this company is going down, down, down like they're a failing company and it's only gonna be worth like 400 bucks this stock.

In five years. Does this sound like a good investment to you? No. So if anyone was to say that buying brand spanking new financed equipment that is way overvalued what you're paying for it as an investment and they're gonna use that as the guys, I think is ludicrous. Okay, so I'm gonna wrap up this video. It's gone too long already. But if buying a new truck aligns with your personal goals, go for it. Like if you've always wanted a great truck and that's why you got into business, I'm not saying you should not buy a brand new vehicle. You like the new car smell. If you want, you know that hey, I'm going to be paying on it. And I know it's not the greatest business decision, but I've always wanted it. Go for it. But don't try to make having debt and buying brand new equipment all the time a good business decision. And definitely not when you're growing and first getting started. Because I promise you, I promise you that that $2,000 per month paid on this truck if that was spent on marketing, would dramatically affect your business more if you're just starting out. Because guess what, if I say, hey, you're gonna go buy this brand spanking new F350 tomorrow, $110,000, guess what? Tomorrow and next week it is not going to make you any more money. It's gonna be nice, it's gonna smell good, it's gonna have great what is called moonlight, moon windows or sun windows or whatever it's called tailgate, comes on automatically, light, whatever, very cool. Backup cameras, all the rest of it. But tomorrow it does not make you more money. Tomorrow it does not bring you more customers. Whereas if you spent $50 per day for the next few months on Google Ads, Facebook ads, or you lawn care web design made your website, you spent some money on your website. I promise, I promise you the ROI of that would be far better than $2,000 a month on that truck. That truck's not bringing you more customers. Spending that money when you're first getting started on marketing is going to bring you more customers. It's going to grow your business so that maybe one day you do make 3 to 4 million in revenue on your company and you can go buy a truck like this. That doesn't really make sense financially, but you can afford it because it's like, literally, who cares? You have the money, you have the revenue to back it up. So what you gotta remember is opportunity cost. $2,000 spent on $110,000 truck every single month means that that $2,000 cannot be spent on marketing, hiring, and growing your business. If you're just getting started. You do not need a brand new truck, you do not need a $50,000 ditch witch, you do not need a brand new excavator, track loader, or all these other things until your revenue is basically forcing you to buy those things. Don't, and better yet, buy something that's a few years old that has already depreciated somewhat from being brand new. Because when you drive that vehicle off the lot, it's not even worth 86,000. When you drive it off the lot, it's literally worth 65 maybe, and you still owe 110. Not really the best decision. All right, so I truly believe if you're just getting started, this is the right way to go. But by no means, if you look at the $110,000 truck as a trophy and what you want to attain to go for it, let's go. You absolutely deserve it if you built a business that can substantiate that. But when you're getting started, you do not need debt. You do not need a lot of debt and definitely don't be spending. I'd rather people go into debt and spend money on marketing that's gonna double their business in a couple years. Instead of a truck that literally is going down in value, costs more money to maintain in terms of insurance, like just the insurance cost, the extra premium that you're paying that will cover the cost of, of maintaining a slightly older truck. So anyways, that's my opinion. I'm Mike Andes. You've been listening to Landscape Business Course. If you want more details, anything like that, check out the other videos, subscribe, look at the links below in the description and I'll see you next time.