What are Smugger's expenses?

[Seven Severn]

IIRC, the house was a gift from the grandparents, so is there a mortgage or rent to be paid? Is he paying mortgage on the business or was it a "gift" from JimBob? If he doesn't have those normal expenses every month then he's at a quite a financial advantage over other local business people. Oh, and let's not forget the thousands of dollars in free advertising from TLC every so often.

 

Sorry if this has been talked about before.

[Sola]

I suspect he will be paying a nominal rent for his home. The business is in JimBoob's name and not Smuggars, Smuggar obviously runs it though I suppose officially he is just an employee of JimBoob's. Though I don't know about the new car lot.

But really, compared to the average person starting out on their own, he has a huge advantage. His family owns a lot of property, due to the show is financially solvent and all the publicity will help too. I wonder how many people buy a car from him simply because he is a Duggar.

[dawn9476]

I suspect he will be paying a nominal rent for his home. The business is in JimBoob's name and not Smuggars, Smuggar obviously runs it though I suppose officially he is just an employee of JimBoob's. Though I don't know about the new car lot.

But really, compared to the average person starting out on their own, he has a huge advantage. His family owns a lot of property, due to the show is financially solvent and all the publicity will help too. I wonder how many people buy a car from him simply because he is a Duggar.

Hasn't it really been established that the new car lot is also in Jim Bob's name? Wasn't that the real reason he was at the meeting for Josh to get approval to turn the taco place into a car lot?

[lilwriter85]

Hasn't it really been established that the new car lot is also in Jim Bob's name? Wasn't that the real reason he was at the meeting for Josh to get approval to turn the taco place into a car lot?

It has been established that the new lot is Jim Bob's name. Public/property record searches show that Josh doesn't own any buildings or a home and someone said in another thread that Jim Bob's name was mentioned as being owner at the zoning meeting.

[Seven Severn]

So is Josh paid a salary by Boob?

[Lillybee]

Judging from his waistline, the grocery bill could be outrageous.

[Seven Severn]

Judging from his waistline, the grocery bill could be outrageous.

Ha! He is getting to be a bit of a tub, isn't he?

[dawn9476]

I wonder if Josh has anything in his name. I would think he would have to have some accounts in his name to build up credit if he ever wants those lot properties transfer into his name.

[Buzzard]

Sorry, but I don't think the concept behind the "financial freedom" seniors boob is always pumping includes mooching off your parents while you breed. Methinks boob needs a refresher course!

[clarinetpower]

Mmmm... yeah, but if I remember correctly, they are believers of Dave Ramsey (is that the guy) with the whole no-debt, no credit thing. I'm pretty sure they spin that to be Biblical somehow (is it supposed to be?) and make Smuggar toe the line as Dimbulb wishes because everyone knows financial freedom only comes through Christ.

Or something. *looks around confusedly*

[bananacat]

I wonder if Josh has anything in his name. I would think he would have to have some accounts in his name to build up credit if he ever wants those lot properties transfer into his name.

The Duggars are strictly debt-free, so Smuggar wouldn't need to build up credit. He will be expected to pay cash in full for any properties that he buys. It helps that he lives in an area with a low cost of living.

When I was 18 I applied for a credit card that I use just as a convenience and pay in full every month, so that I can build my credit and eventually get a mortgage some day. But the Duggars would rather cram into a tiny rental or buy some empty land and pretend to build on it until a TV station steps in to help than to just take out a mortgage for a reasonably-priced but adequate house.

[Cassandra]

The Duggars are strictly debt-free, so Smuggar wouldn't need to build up credit. He will be expected to pay cash in full for any properties that he buys. It helps that he lives in an area with a low cost of living.

When I was 18 I applied for a credit card that I use just as a convenience and pay in full every month, so that I can build my credit and eventually get a mortgage some day. But the Duggars would rather cram into a tiny rental or buy some empty land and pretend to build on it until a TV station steps in to help than to just take out a mortgage for a reasonably-priced but adequate house.

I think its interesting that he believes in being debt-free, but he probably sells cars that put people in debt.

I like the idea of being debt free, especially for smaller things. I try to only use my credit card enough to build up my rating. However, I see nothing wrong with using credit for larger purchases like a car or a home.

[YPestis]

I believe Josh gets the house he's living in from his grandparents. He mentioned that in a previous episode. He may pay them a nominal rent fee but I doubt they're charging him the actual value. He's car lot business is helped along by his family as stated above.

Think about it...how else does a 21 year old kid with minimal job experience, no higher education able to live debt free while acquiring a house and car lot AND support a growing family? Yeah, not really possible without parental help.

I'm ok with all that. I guess the fact Josh only has to borrow/receive money from parents is considered a debt free lifestyle (which is fine). I just don't like that they try to hush that part out. They give audiences' the impression Josh managed to buy a house and start a business right off the bat all by himself. It just didn't happen that way.

[lilwriter85]

I believe Josh gets the house he's living in from his grandparents. He mentioned that in a previous episode. He may pay them a nominal rent fee but I doubt they're charging him the actual value. He's car lot business is helped along by his family as stated above.

Think about it...how else does a 21 year old kid with minimal job experience, no higher education able to live debt free while acquiring a house and car lot AND support a growing family? Yeah, not really possible without parental help.

I'm ok with all that. I guess the fact Josh only has to borrow/receive money from parents is considered a debt free lifestyle (which is fine). I just don't like that they try to hush that part out. They give audiences' the impression Josh managed to buy a house and start a business right off the bat all by himself. It just didn't happen that way.

I also don't like that the Duggars keep hush on Josh's businesses. I think most people would be ok with Josh receving help in starting/runnning businesses. The Duggars are about their egos and they probably take pleasure in having people praise them and Smuggs all the time. The Duggars' debt free bragging sometimes bothers me.

[katy]

I'm ok with all that. I guess the fact Josh only has to borrow/receive money from parents is considered a debt free lifestyle (which is fine). I just don't like that they try to hush that part out. They give audiences' the impression Josh managed to buy a house and start a business right off the bat all by himself. It just didn't happen that way.

I agree with this too! Also, I have been through the gothard financial freedom seminar and being in debt to your parents is a BIG no-no, they are all about not lending money to any family member ever, because it ruins your relationship with them and makes them a "slave" to you. It doesn't really make sense that they would push this seminar and then do the opposite with their own children

Also, does Boob really think he is going to be able to do this for all 19 of his children? Give them ALL houses and business lots, etc...? I don't think he's really thought this through.

[batwing]

I wonder if Josh has anything in his name. I would think he would have to have some accounts in his name to build up credit if he ever wants those lot properties transfer into his name.

If you search the Arkansas Secretary of State business filings for the agent name "Duggar" the following businesses come up (http://www.sos.arkansas.gov/corps/search_all.php):

SAVE-N-GO, INC. SPRINGDALE AR Revoked (James R Duggar)

This just means this was the only business where he registered as his own agent. I looked for businesses with "Duggar" in the name, and nothing came up related to them. There do seem to be some other Duggars in Arkansas that own businesses, but nobody I recognize.

I searched for Champion Motorcars, and it didn't come up. It doesn't mean it doesn't exist, but they may have it listed under a different name. You would think that it would at least come up under Fictional Names on the search :think:

When you search Washington County's Tax Assessor website for the name Duggar, you get a list of residential properties. There is one that belongs to grandma, one that belongs to Josh & Anna, and several that belong to Boob & DQ (multiple parcels to account for the whole compound). The house listed for Josh & Anna looks like theirs and the one listed as Grandma's looks like the one they just cleaned out. Doesn't mean Josh & Anna own the house they're in, but they are responsible for the property taxes. So we've gotta give them two snaps in a circle for being responsible for SOMETHING :clap:

[bananacat]

I think its interesting that he believes in being debt-free, but he probably sells cars that put people in debt.

I like the idea of being debt free, especially for smaller things. I try to only use my credit card enough to build up my rating. However, I see nothing wrong with using credit for larger purchases like a car or a home.

But that's because you're a smart, reasonable person just like most others who use debt. For fundies it's always black-and-white, all-or-nothing thinking. They really can't see the difference between investments like a mortgage or student loans, and frivolous debt like buying new electronics that you can't afford. I believe they just don't have any self-control and if they let themselves use debt wisely, they would be too tempted to use it unwisely also. They just have no sense of balance.

[snarkykitty]

If you search the Arkansas Secretary of State business filings for the agent name "Duggar" the following businesses come up (http://www.sos.arkansas.gov/corps/search_all.php):

SAVE-N-GO, INC. SPRINGDALE AR Revoked (James R Duggar)

This just means this was the only business where he registered as his own agent. I looked for businesses with "Duggar" in the name, and nothing came up related to them. There do seem to be some other Duggars in Arkansas that own businesses, but nobody I recognize.

I searched for Champion Motorcars, and it didn't come up. It doesn't mean it doesn't exist, but they may have it listed under a different name. You would think that it would at least come up under Fictional Names on the search :think:

When you search Washington County's Tax Assessor website for the name Duggar, you get a list of residential properties. There is one that belongs to grandma, one that belongs to Josh & Anna, and several that belong to Boob & DQ (multiple parcels to account for the whole compound). The house listed for Josh & Anna looks like theirs and the one listed as Grandma's looks like the one they just cleaned out. Doesn't mean Josh & Anna own the house they're in, but they are responsible for the property taxes. So we've gotta give them two snaps in a circle for being responsible for SOMETHING :clap:

Champion Motor Cars does come up on Manta.com.

http://www.manta.com/g/mtmxmqf/jim-duggar

http://www.manta.com/c/mtmxmqf/champion-motor-cars

[Sola]

Hasn't it really been established that the new car lot is also in Jim Bob's name? Wasn't that the real reason he was at the meeting for Josh to get approval to turn the taco place into a car lot?

I don't know about the new one, but the old one is definitely registered in JimBoob's name and not Smuggars.

[lilwriter85]

I agree with this too! Also, I have been through the gothard financial freedom seminar and being in debt to your parents is a BIG no-no, they are all about not lending money to any family member ever, because it ruins your relationship with them and makes them a "slave" to you. It doesn't really make sense that they would push this seminar and then do the opposite with their own children

Also, does Boob really think he is going to be able to do this for all 19 of his children? Give them ALL houses and business lots, etc...? I don't think he's really thought this through.

I think Boob might try to give some of the other older boys businesses or homes or maybe at this point he hasn't thought things out. Boob probably won't be able give all of his kids businesses or homes. I think with the girls, he and Michelle probably hope that the girls will court and marry young men who have businesses or jobs. Once TLC gets out of the picture, the Duggars will still be ok financially but I think they will be taking less trips and they might have to go back to some things used. On other forums and sites, I have seen some of the Duggar lovers overestimate the family's salaries from TLC and the money they make from books. Some of these fans really think the Duggars are just as wealthy as people from scripted TV shows. The Duggars likely get a good amount each season from TLC. But the Duggars don't really make additional profits because DVD sales are probably low. Boob and Mullet probably aren't making huge money from their books. They have a limited market here in the US for their books. Their market is mostly fundies and some homeschooling circles. A lot of mainstream Christians don't care for the Duggars that much. I can see their books going out of print within a few years. They also probably aren't doing well in audiobook sales and they will only be able to sell translation rights to a few countries.

My prediction is that rifts will happen among the children in the future when they realize that TLC was the main reason Boob was able to help Josh. I can see resentment from the younger boys happening. I do wonder if Boob is trying to set up the towing business as John David's sole business.

[slickcat79]

I think I remember Josh saying on one of his interviews that they only have to sell something like 1 or 2 cars a month to meet their expenses. Of course, that may have changed now that they're getting a second lot, have actual employees, have a second child, etc. But their expenses would have to be quite low if that were the case.

I would also wonder if the car lot actually produces enough business to be able to afford all the stock they seem to buy. We've seen them go to auctions, buy dozens of cars at various times, but they rarely talk about their sales. I'm kind of surprised there's enough of a market to account for making all those purchases for the business and still being able to earn enough profit to support a family.

[3 is enough]

If I'm not mistaken , the employees work on commission, so I don't think salaries are much of an issue. They may get a small amount, but if they don't sell, they don't make much.

I'd like to know who buys the inventory. Right now there are 49 cars on the lot, and I know there's a mark-up, but even if he paid on average $2000 per vehicle, that's $100,000 he had to have available. I checked on the website, and the cars generally have well over 100,000 miles on them. Not many great deals there, I would imagine.

[Seven Severn]

If you search the Arkansas Secretary of State business filings for the agent name "Duggar" the following businesses come up (http://www.sos.arkansas.gov/corps/search_all.php):

SAVE-N-GO, INC. SPRINGDALE AR Revoked (James R Duggar)

This just means this was the only business where he registered as his own agent. I looked for businesses with "Duggar" in the name, and nothing came up related to them. There do seem to be some other Duggars in Arkansas that own businesses, but nobody I recognize.

I searched for Champion Motorcars, and it didn't come up. It doesn't mean it doesn't exist, but they may have it listed under a different name. You would think that it would at least come up under Fictional Names on the search :think:

When you search Washington County's Tax Assessor website for the name Duggar, you get a list of residential properties. There is one that belongs to grandma, one that belongs to Josh & Anna, and several that belong to Boob & DQ (multiple parcels to account for the whole compound). The house listed for Josh & Anna looks like theirs and the one listed as Grandma's looks like the one they just cleaned out. Doesn't mean Josh & Anna own the house they're in, but they are responsible for the property taxes. So we've gotta give them two snaps in a circle for being responsible for SOMETHING :clap:

It may be that JimBob owns at least one LLC and if that's the case then his name wouldn't appear on any ownership paperwork except as an officer of that LLC, if that. Owning LLCs is really the smart way to go if you own property or businesses and if you get them through the state of New Mexico your anonymity if guaranteed (or at least that's how it was as of five years ago). Someone else here might have more knowledge about this kind of thing than me seeing as my knowledge is pretty negligible.

[denimjumper]

I very clearly remember posting on this forum a few years ago that there was published in the newspaper where they lived a transfer of ownership of the car lot to Josh from JimBob on the eve of his wedding to Anna. Now, was it moved BACK to JimBob? I don't know. But for some period of time that car lot was in the name of Joshua Duggar.

[IReallyAmHopewell]

I would think most of Josh's earnings go back into the business and into savings. I assume he'll eventually live in the "big house," but his parents are very young yet so that could be years away. At some point he'll buy or build another bigger home for his family.

Does anyone know if ATI/VF require a dowry? IF so they may be saving for that for Mac, too.