Anyone do this? Wife and I have to relocate to Roanoke, VA and I found a job as an equipment locator (find heavy construction equipment, take pics, list, help with sale) and I have a phone interview.

Its a 1099 independent contractor position, so no salary, no benifits, no insurance etc. Its basically commission (25%-40% of profit of whatever equipment I sell), and thats it.

This sounds crazy and sketch to me, but I've also never heard of this type of work.

10/14/2013 2:41:32 PM

I've worked as an independent contractor for a few years, and I have no problems with it.

However your gig sounds crazy and sketch to me, but I've also never heard of this type of work.

[Edited on October 14, 2013 at 2:43 PM. Reason : .]

10/14/2013 2:43:48 PM

Double check that it meets the DOL requirements for a contractor vs. an employee. It definitely could given what you shared, but its worth checking.

(But I could never function like that, I need more security)

10/14/2013 3:00:16 PM

I am a freelancer that works as a 1099 contractor most of the time. Basically means no benefits and double some taxes. I also have heard of this type of work. But

Quote :

"25%-40% of profit of whatever equipment I sell"

sounds crazy and sketch to me


Also the "find" part is BS. The rest of the job description is pretty straightforward.

If you decide to go for it, I would suggest you have them clearly define what they mean by "profit", or you may be the one getting screwed in the end.

10/14/2013 3:19:47 PM

Lol sounds like you're gonna be the scout for a repo company. The guy out on point is the first to get hit.

10/14/2013 4:15:36 PM

Talked to the guy, something I'm not interested in I dont think.

Basically i'd be a heavy equipment broker. I go out and find equipment, make them sign with me, and then I take over the sale. I get a percentage of the profit.

Example. If I found a $40,000 bulldozer, I bought it for $30,000 and then re-listed it for $40,000 and it sold for $40,000, I'd make $2500 on the sale.

It sounds like a "cool" job, but wayyyyy to unsteady with no benifits, no salary no nothing.

So, I'm going to pass.

10/14/2013 7:20:34 PM

I have a family friend who has done this for about 20 years. It started as a side job he did, but he ended up making several million a year as he grew it into a full time deal. Basically over time you make hundreds of contacts with industrial companies and small businesses. Starting out new is tough, but its definitely a legitimate business with a lot of long term potential.

and btw, he started out very small and never acted as a broker. He bought one piece of equipment and then resold it. Over time he reinvested the profits to build a bigger and bigger cash fund, to be able to buy larger and larger equipment.

Having cash in hand for large equipment, you can easily buy (for instance) a large dozer on the spot for 20-30k less than value, and then flip it to a buyer in a couple of weeks for 15-20k more than you paid.

I'd imagine being a broker would be a LOT harder position, since you can't just give people cash on the spot.

[Edited on October 14, 2013 at 7:38 PM. Reason : .]

10/14/2013 7:35:55 PM

do you have a lot of experience with heavy equipment? I'd steer clear of this type of job unless I grew up in construction and/or auctioneering businesses.

[Edited on October 14, 2013 at 7:41 PM. Reason : there are tons of people doing just this at auction yards every weekend.]

10/14/2013 7:41:04 PM

I have experience with heavy equipment, so I am good on that.

Just sounds too unsteady for me.

10/14/2013 8:38:53 PM

I'm an independent contractor.

Talk to an accountant if you do it bc the government proper fucks you on taxes if you don't know any better

10/14/2013 9:45:05 PM

take whatever you think is a reasonable rate of pay and quadruple it. that is how much you should be making considering you have no security, insurance, legal protection, etc.

if you flip burgers for macdonalds @ $5 per hour then u need to be clearing $20 flipping burgers for yourself minimum.

they will pay it, don't worry. big companies use indep. contractors for flexibility and/or creative accounting.

not many people are willing to do all the complex documentation to be legal indep. contractors so the turnover is high. IRS is gonna be on you like virgins on a suicide bomber.

10/14/2013 11:44:48 PM

ibt outside sales

10/15/2013 12:57:59 AM

If you could do that locally as a side job, I would do it... But save all the income, and contacts from that job to eventually do it yourself, like noens friend.

If you've got an in with this company, ask them if they'd be willing to do the same pay arrangement where you currently reside (could be new territory). You could do well for yourself, on the side, with out taking any real risk.

You're already going to say no to their offer, suggesting this to them really won't screw you over. Plus you could pitch it as having contacts in this area.

As for being on a 1099 basis, there's benefits and there's draw backs. Sometimes you fret about where the next contract is going to be, and the tax situations can be intimidating. But if you set up your finances right (having a seperate credit card helps track expenses), you can end up with some nice perks you normally wouldn't.

[Edited on October 15, 2013 at 9:33 PM. Reason : .]

10/15/2013 9:32:52 PM