I Think I Have A Good Start

[LoneDuck]

  This is my start to get into milling. 

The tractor is 1981 Case 480ll For $4,500.


  

 

Just got the Mill. A 1998 LT40HD that was only $11,000


  

 

A lot of money but I think I have a good start and not to fare in debt.

[jim blodgett]

Funny thing, debt.

My parents came of age in the Great Depression and I heard all my youth "...stay out of debt...keep your debt to a minimum..." lots of stuff like that.

It took me until I was about 30 to dare have a car payment, then maybe 35 to realize I could get a loan against my home and use that equity to build far more wealth than I could have by inching along "saving" a little each week out of my pay check.

Serious money people call it using "O.P.M." and chuckle. (That's "Other Peaple's Money".)

Meanwhile a bunch of us dumb shmucks keep plugging away, giving an honest 40 hours a week, getting a few crumbs while the fat cats at the top chuckle.

I've told all three of my kids to be careful, but don't be afraid to go into debt for the things you need to build wealth throughout your life - wether it's equipment, or education, or real estate, or even just enough time to figure out which way is up.

I sure hope they have a healthier attitude towards debt than I did. 

Good luck to you, Lone Duck.  I think even at 1% per month, the payment on $25,000 is under $300.00/month for 10 years.  Even if that wouldn't get you a legitiment start, the tuition isn't that tough to pay.

[Dave Shepard]

I think you are off to a good start with that equipment.  Welcome to the Forum. Where are you from? What do you plan on cutting?

[ScottAR]

I'd say you have a good start.  Congrats!   The case is a solid machine as is the woodmizer. 

[LoneDuck]

Thanks guys. My thought was I could try to save it up over a few years but then I would have to wait. This allowed me to make a few good purchases and use them to make the money to repay. I will have everything paid off within five years even if I do not make any money with it. Plus it will save me a lot because I will not have to buy from a box store.
I'm in Iowa and first plan on sawing stuff for my house. Like siding, fencing from some big cedar electrical poles that my brother gets. This will provide with a good learning experience before trying any thing more challenging.

[Chuck White]

Looks like you have a REAL good start to milling! 

Nice looking tractor AND mill.  8)

[POSTON WIDEHEAD]

Judging by the pic, the Case 480 was a steal at $4500. A good buy on the mill too.

Looks like you got her if she don't jump the fence. 

[thecfarm]

How many HP is that tractor? Was that just painted,bucket? Or brought from someone that only put 100 hours a year on it?

[POSTON WIDEHEAD]

How many HP is that tractor? Was that just painted,bucket? Or brought from someone that only put 100 hours a year on it?

Ray, we could look a life time and not find a deal on a loader like that.

[thecfarm]

It must of been painted at some time. I use my stuff and I use it hard. As I say,I did not buy it to look at.I dig out ALOT of rocks with mine. That is hard on it. Than I have a place that I dig dirt out of,that is hard on it too. Working it in the woods is the easiest thing it does.  :D Some buy that stuff and may haul a bale of hay in the bucket.

[LoneDuck]

Both have right at 2500 hrs on them. The tractor was a funny story. I bought it off ebay and when I went to pick it up the owner and I started talking. He brought out paper work on it and showed me the recites for painting and other work he had done to it. Over $8000. After getting it done he didn't like how the canopy caught on branches in the woods so he decided to get rid of it. Turns out, if any of you have seen the government surplus site Gov liquidations, he just retied as a founder and CEO of it and didn't care about the money really. That must be nice. :-\

[thecfarm]

Guess I was wrong on the hours. Not even 100 hours a year on it.  :  I just about live on my tractor,if I'm outside.

[JohnM]

I just about live on my tractor,if I'm outside.

If you get off the tractor you're doing it wrong! >:(  ;) :D

Good start indeed, Lone Duck.  Congrats!

[redbeard]

Looks like a Gannon box blade with hydraulics that would be a extra major score. Nice equip you did real good.

[Magicman]

You made a very good start on your sawing operation.  I like um both.   

[arnold113]

Sounds like you've got life in a bucket (pun intended). Wishing you the best. Arnold

[Sixacresand]

Congratulation.  Nice equipment.

[dboyt]

Great start!  Hope they run long and smoothly for you.  Now you need more chain saws, cant hooks, grapples, a mill shed, and other "toys".  Keep us posted.

[Carpenter]

Funny thing, debt.

My parents came of age in the Great Depression and I heard all my youth "...stay out of debt...keep your debt to a minimum..." lots of stuff like that.

It took me until I was about 30 to dare have a car payment, then maybe 35 to realize I could get a loan against my home and use that equity to build far more wealth than I could have by inching along "saving" a little each week out of my pay check.

Serious money people call it using "O.P.M." and chuckle. (That's "Other Peaple's Money".)

Meanwhile a bunch of us dumb shmucks keep plugging away, giving an honest 40 hours a week, getting a few crumbs while the fat cats at the top chuckle.

I've told all three of my kids to be careful, but don't be afraid to go into debt for the things you need to build wealth throughout your life - wether it's equipment, or education, or real estate, or even just enough time to figure out which way is up.

I sure hope they have a healthier attitude towards debt than I did. 

Good luck to you, Lone Duck.  I think even at 1% per month, the payment on $25,000 is under $300.00/month for 10 years.  Even if that wouldn't get you a legitiment start, the tuition isn't that tough to pay.

Interesting way to look at this!  My Dad always told me it takes money to make money and left it at that.