Rey C.
Racing is life... anything else is just waiting.
My grandather had the wisdom. I've just built a little book of experience based on his (and my dad's) words.
Too much debt? You only know you have too much debt when you have trouble making payments, or it begins to hamper your operation or life. If you get into real estate, your level of debt to equity could be somewhere north of 90% in the early years. But You Might have extremely healthy free cashflow. My father always counseled me against taking on debt, because that was against his way of thinking (he was Depression era). But I saw debt as a (fast) way to acquire income producing assets: real estate. I wouldn't buy (any) stock on 90% margin though. And I wouldn't load up on debt to buy/start something that did not have a rather guaranteed income stream. And people who take on debt, and have to live paycheck to paycheck, so they can have a BMW M3 or the right house in the right neighborhood are stupid. There's "good" debt and "bad" debt.
But that's why you want to take a couple of business/econ classes, so that you can better understand how to develop and write a business plan, and figure out how to get from Point A to point Z. It's nice to have a friend who knows the ropes. But if you get to a point where the cash begins to roll in, You Might find that $ means more to him than your friendship. Outside of my family (and even then), I've been involved in VERY few partnerships that worked out longer term. Two guys sharing business responsibilities and the profits is like two guys agreeing that they can share a pretty girl. Sooner or later, one or the other is going to want to make her his own. It's just human nature.
). But not so great for the rest of us, huh? Not exactly my favorite President, but to say that this was Clinton's baby is more than just stretching the truth. 
