Spending BIG DOLLARS, How can I Justify this?

Today I go over the actual costs of buying and using an excavator on our property. The Machine is a Kubota KX057-4 Excavator, We talk about Return on Investment, Pay Back Period, Residual Value, Operating costs per hour and more
#outdoorgans #ROI
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P.O. Box 2140
Cranberry Twp. Pa 16066
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OUR EQUIPMENT LIST
Kubota KX-057-4 Excavator
Kubota MX 5400 Utility Tractor
Kubota BX 23S Subcompact Tractor
ExMark Lazer Z S Series Zero Turn Mower
Wolfe Ridge Pro 22C Commercial Log Splitter
Woodmizer LX 150 Sawmill
We live in Western Pa. and Have around 100 Acres of Land, About 1/2 is ours the rest is my moms, We have 4 kids and one grandchild, 3 Golden Retrievers and one Cat. We enjoy working on our property and making improvements. We sell firewood and soon will be selling hardwood lumber.

[@stanrumph4123]

Mike, you don't need to explain your business as you did. It's obvious you know exactly what you are doing be it with the land or finances. I continue to be amazed at both you and Melissa with your values and tremendous work ethic. I thoroughly enjoy each video!!

[@fredc9454]

That’s ok , I’m supper glad he put a ton of facts and figures in this , I started in oct of last year working with Kubota our territory manager , finally decided and got approved for the excavator I wanted , that didn’t happen till after the first of this year , as of this day ,May 7th 2021 still here waiting , I’m not complaining but this has given me another shot in the arm to keep hanging on .

[@michaelmactavish1728]

my kubota dealer has options of renting, lease, rent to own, buy plus he does payments options such by cash, checks, direct deposit, money orders, debit, credit cards,visa,mastercard options

[@randyham6172]

You do not need to explain yourself,it's your life you are sharing with us, keep it up.

[@lonniechartrand]

You are correct in that he Mike did not need to explain himself, BUT, I greatly appreciated the information as to cost and breakdown! Mike has been "responsible" for SEVERAL of my purchases. lol And for sure, I have given some thought to buying an excavator myself. But the reality of it happening is slim as I do not do all that Mike does, or at least to the extent that he does. But it is fun to dream a little, and who knows, if things were to change for me in some way, I would definitely think about buying this machine! Maybe I will just wait ten years and buy Mike's used one! The way he takes care of things it would be like buying a new machine for half the cost!!!!! lool

[@ronwhite6719]

Mike, I've been in engineering for 45 years and you did exactly what we do for any capital expense. Great job breaking it down. God bless you and your family. Ron CT

[@davidboutet3016]

No explanation required for the “experts sitting on their couch”. Keep on doing you Mike........

[@vaughnmaurt5013]

Totally agree....that said I loved all the info/numbers

[@daviddelaet8116]

You use your equipment the way you want. 99.9 percent of your viewers agree with you on how you do things, that is why we like and subscribe. I personally cannot physically do that kind of work now, or I would. My wife and I throughly enjoy Outdoors with the Morgans and Morgans off the leash. You and Melissa keep doing what has obviously been successful.

[@CliffsideStables]

As someone who spent three decades sitting on the board of a financial organization, I can say that Mike you provided your viewing audience with an excellent excellent financial review of your excavator purchase. Congratulations! Tim

[@kjacoby]

Don’t ever feel the need to explain to people how you decide to spend your money. They obviously can’t afford something like that and are just jealous, haters or just don’t understand how much money a piece of equipment can make/save you.

[@tezell63]

I agree with most everyone else ....no need to explain yourself. Thanks for bringing us along for the ride. Good video.

[@pacodefrancis7235]

Generally I’d agree with you, but I’m pretty sure Kubota Credit Corp would approve a shift worker at McDonalds if they tried to buy a $70k piece of equipment

[@kjacoby]

@@pacodefrancis7235 that doesn’t mean they can afford it..the payment would be more than they make in a month

[@kjacoby]

And I highly doubt that anyway

[@pacodefrancis7235]

@@kjacoby I'm not saying they can and I was being hyperbolic. The point is Kubota practically approves anyone--they'll definitely approve people who "can't afford something like that." I know for sure I'd be approved for a $70K excavator and I wouldn't be able to afford those payments without cutting back on things like retirement and vacations.

[@johnsadler8637]

Good morning! Thank you for the numbers. You probably saw the comment thread on the “cheap lumber” video where I was derided for mental gymnastics over these kinds of things. As far as I could tell, the two naysayers presumed the entire cost of the excavator had to be amortized into the cost of those few boards. So, now you have provided enough information that they can see about what cost is in that 500 bdft or so you took out. Thanks for providing the numbers - that’s good stuff. Once again, you’ve demonstrated that you had your ducks lined up nicely in a row before you pulled the trigger. A number of farmers near our farm take the approach David Morse mentioned - they see a few tasks they could do with a tool like a skid steer or excavator and buy a used one, use it for a year or two to get the projects done, and then sell it for about their original purchase price. As nice as you keep your equipment, your resale value in 10 years might be closer to your original price than your conservative estimate. Buying new instead of used is probably much better for your KZbin operation. My 16 days on the farm was pretty productive- there are now a couple thousand more yards of fence line with no cedar trees, honey locusts, or multiflora rose. Seven brush piles, 3 of them really big ones, are now burned. The 6 from the 2019 fence project are totally gone except for one last 4’ chunk I set out of the way so the field can be hauled or pastured. The huge one near the house site that grew from 2017-2019 didn’t burn quite as well as the field piles because there was a lot of dirt in it from the house earthwork operation. But the remnants are collected around the one giant stump so that the next time we can burn it has a chance to work on it. As a side benefit, I just realized most of my numerous MF rose scratches on my arms are healed up. 😋

[@patrickconnell223]

you forgot the fun factor, it's priceless. You have been smiling since you bought it.

[@lorallamb2673]

Let's call that item number 7 on the list! F.F. the fun factor!!! Priceless!!!

[@shelbydog1100]

You can’t forget smile per hours. You can’t put a price on those.

[@OutdoorsWithTheMorgans]

True lol

[@michaelmactavish1728]

there accully cheaper then deeres and cat

[@michaelmactavish1728]

@@OutdoorsWithTheMorgans same price at my dealer the cat dealer wants $190,000 for theres same size wich rediculas

[@fredc9454]

“Smiles per hour” is what gets the job done for me! Wish I came up with that one.

[@billsiliskie2518]

Great video, that’s how I analyze large purchases like land and equipment. It all works out as yours does, but the one factor it’s hard to quantify is the enjoyment you get having land and equipment to do the things you love to do! 👍🏻

[@sintactic]

Lots of people saying you don’t need to explain yourself. Totally true, but it’s so helpful to see such a transparent and detailed analysis, especially for those of us who are interested in following a similar path and wondering how you’re pulling it off. Thanks for sharing!

[@jamesknox4612]

When you helped your neighbors out with the waterline they will remember that for a long time that makes your soul fill good

[@fredc9454]

Not to mention, looks like you guys are loving what your doing , witch adds years of happy , blessed living !

[@frankbever1788]

Amen!

[@julierobertson3047]

Amazing how much people watching work can tell the person actually doing the work!

[@markbouchard525]

I don’t care if you make money with equipment or not -- I just love watching you operate all types of stuff! It’s a lot easier for you to justify it than me and my boat hobby ! No matter how you figure boat cost per hour it hurts !!! But do what you love and forget what people think !!!!!

[@daveschmidt5713]

Nice job laying out the business decision. The local community college should recruit you to teach.

[@andrewupham4713]

Mike, you know we are all just jealous! LOL! I really did try the approach with my wife... she just laughed, and said when I am as successful as Mike Morgan I can buy one too! :-) I had already done the math in my head on your toys, you made a great decision there... and I know when I rent one, I am making a great decision for my situation. I do appreciate you laying out your life and decision making choices for us. It really can help some of the young guys out there that are not just jealous, but maybe even coveting your life, some people need to know HOW to make a good decision. I think you did a great job explaining it. ONCE AGAIN! a very informative video and worth every second of time making it and watching. You are a great educator and are blessed with the gifts God has provided you. Keep up the good work, and again thank you for your expertise as a certified weekend warrior.

[@caljim1950]

I have a finance background and applaud your analysis. Great job.

[@jrbrumley9334]

Mike, I know this is your channel but you don't owe anything to people that are critical of the way you do things. I know, it is just in you to try and explain to the ingrates that try and criticize what you do. To me, the number one thing is that you and your family are happy and it is quite obvious that you are. Yes, it is important to be sure you can afford it before buying, and it is obvious that you can, but the point is, does it improve your quality of life? You are doing excellent and I really like watching and learning how you do things. Keep up the good work! Thanks again!

[@jamesgetz7101]

Don’t worry about it Mike. Everyone knows that guy. The guy that tells you how to do it , but never does anything himself

[@frankbever1788]

Isn’t that how it really is!

[@jimcarmellini8294]

Mike- not sure you will ever read this but...you're a better man than I! I started watching your channel after my son recommended it to me...which was just about a week after I bought my KX057-5! About 30 years ago I bought 50 acres in Vermont, up on a hill (meaning lots of steep grades to travel too). About 20 years ago I bought a Kubota M6800 with bucket, backhoe (which I'll probably now sell), logging winch, bush hog, York rake, blade, etc. We also picked up a Ranger and 4x4. So...needless to say, you have nothing to justify to me. My KX057 was a bucket list item...I've always wanted an excavator and I have no doubt that after buying it will be worth every penny...either in money saved or just sheer enjoyment! Big equipment is a game changer (as I know you know) on a large track of land. I've been on the fence about a bandsaw mill but after watching your videos, I think that too may be on my bucket list...my land has beautiful ash and maple. Keep the videos coming...I really enjoy them...and if you're ever up in the Vermont area, give me a shout...I'd love to compare notes! [e-mail]

[@NHHalKnowsHow]

When I buy something expensive, the first thing I look at is the scowl on the face of the finance committee I'm married to.

[@OutdoorsWithTheMorgans]

lol

[@bradunruh9188]

A person does what is best for them at time. Monday morning quarterbacks have little value. Another lesson I've learned is people who always pinch and whine get nowhere in life. You are in public life now. Wouldn't you enjoy being politician?

[@python3574]

lol..... I never get good feedback from "The War Department", but if she wants me to do a cost analysis of a Louis Vuitton bag, I'd be more than happy to.

[@petermavus4131]

Waiting for the explanation of buying 2 new vehicles in one year (Jeep and Bronco)

[@santini4754]

I have been married for over 50 years. Trust me, those scowls and the accompanying silent treatment diminish the longer you're married. I recently purchased a side by side, trailer, and a high end Beretta O/U, and got zero push back. Maybe she has accepted that that's the way I operate, or doesn't worry about it . Who knows! After all this time she is still a mystery to me.

[@chrisnash2154]

Very noble of you to justify to the masses, Mike. I appreciate the lesson because it teaches us how to analyze and justify these purchases and choices. One thing you did not include in the analysis is your plan to use the excavator as a side hustle when you retire. This is huge because now it’s bringing in money. Others have mentioned it, but there is the fun factor and the satisfaction of having a project completed EXACTLY the way you want it done. You can’t put a price on that. it really gets down to the fact that you can do what the heck you want and many are just a bunch of trolls chugging hater-aid. People get trucks and do nothing but go back and forth to work and they don’t have to justify buying that truck by hauling a bunch of stuff for a profit. This is still a free country and we are free, (for now) to actively participate in the pursuit of happiness. Like you, playing in the dirt make me happy and if I can save or make some cash while doing it then all the better!

[@simonp1]

Well you convinced me, my wife, the dog and the cats so we have all ordered one 😀

[@Bentwatertrail]

A couple months ago I bought a U25. Your evaluation is spot on. Exactly my thoughts ... especially the insurance. Wow, when Kubota carries the paper they make sure their interests are protected. I was surprised at the increase in my insurance. Anyhow, your cost/benefit analysis is accurate. We can do in a few hours what would have taken a whole weekend. I traded my old excavator (had her for about 12 years). The utility with the addition of a thumb on the new one is dramatic. My wife was totally on board...which is awesome. Put half down so she wouldn't be underwater if something happens to me. "Tally" the hoe joined our L2900 (Honey Badger) and Kubota Zero Turn (Mowe). Haven't broached the subject of a sawmill yet. But we have the property to make use of one (NE Ohio). I enjoy your channel. Thanks for taking the time to do it. A quality channel is not a trivial endeavor.

[@paulsergojan1541]

You don't owe anyone an explanation.

[@brenchuckswood3826]

Spot on Mike, glad someone other than us understands the monetary value of equipment purchases.

[@GreyBeardz]

Greetings from SC, I grew up in Erie. Well thought out execution and remember you can't argue with facts. The way I see it those people are uninformed on what your doing in life. Most people don't do that level off research when it comes to doing business or financial planning. I enjoy learning from you and I am envious.

[@ginacalvello6403]

Mike You and Melissa Are Great People,Amazing Parents..99.9% of us love spending time with Ya'll and keeping up with all you. are doing..You have No Need to Explain to anyone why you do what you do or what you spend on anything you buy.. When you feel the need to Explain that nonsense . It is a Waste of Good Video Time..You Need to Turn your Head and Scroll on buy those Worthless Comments..Hi to the Family..Ya'll are all Wonderful People..Keep Doing What Your Doing..Thank Ya'll so Much for Sharing Your life with Us..Would Love to Meet Ya'll..🙂Maybe at one of the Wood Working Events this Year..🙏❤💙🙏

[@LaddGardner4]

"Take that, Johnny IRS." -- Mike Morgan Man, what a great way to start off a rainy Tuesday morning. :) Most of the folks commenting about your KX057-4 are probably tooling around in a $70k Ford dually pickup that they use to make grocery runs. None of them has 100 acres of forest land under management, plus a wood lot, plus a work ethic that includes bailing out his neighbors when their septic systems fail. Great cost breakdown, for those not hampered by envy.

[@oscar3197]

Hi Mike, no need for any explanations. Talk is cheap from those that do not know or understand what it takes to run a well oiled organisation like yours. You’ve done your homework and it all adds up and makes sense. Your endeavours and hard work are justified and you will reap the benefit.

[@TheFabled1]

I found this very interesting and really appreciate you going through it. I'm sorry you had to feel like you needed to defend or explain your decision though.

[@SunnyBunnyAcres]

Great analysis Mike. Much of this is an elaboration on the simple time=$ principle, which I suspect many of your viewers don't consider. I suspect there are alot of retired guys or people with a different lifestyle who prioritize saving money over time because they really have nothing else going on. You (and I) working full-time jobs know how precious those minutes are between getting home and sunset on a clear day.

[@547Rick]

Interesting! Not that you need to explain anything to me. The videos went up another notch in value to me with your purchase. So please keep putting out the videos! This site is awesome with great content from a wonderful family! 👍👍👍

[@frankf2485]

Mike you are a very patient man when it comes to dealing with negative comments. I'm afraid if I were in your shoes, I would probably offend some viewers by explaining that I don't have to explain myself to anyone (except maybe Melissa) , and that I bought an excavator because I wanted one. How many of the critics wouldn't think twice about spending that same amount on toys like boats, campers or sports cars? Keep on enjoying the things that you have worked for all of your life.

[@robertkessell2766]

You also forgot 2 things. 1): the convenience of having when or if something comes up and you need it instead of having to rent one. That alone is priceless. 2): you are spending your money how you see fit. If you have the money and can afford it, go for it. It is nobody’s business but yours how you spend your money. Just my two cents here.

[@kdegraa]

@Richard Charles agree but clearly this is his hobby plus he must be making good money out of it from KZbin.

[@L4060BGB]

Greetings from eastern Ontario. Great video Mike. The financial analysis you provided is spot on. Your numbers are pretty conservative. Every business should do the same analysis before purchasing any equipment. Cheers.

[@larrygarner6722]

Mike I enjoy watching your videos. You are a great equipment operator and very safe. Mike if you passed out 50 dollar bills someone would complain. There will always be people that think they know a better way to do something and some are just jealous of what you have. Thanks for all the time you put in on making Great Videos.

[@billymcdaniel8420]

Well said my friend

[@nelsonsr.jenking725]

Nailed it !!! Great comment !!

[@toplink]

Great perspective Mike. It’s hard to make folks understand REAL cost of ownership. No dig, just fact. Most people look at purchase price alone. For me, the biggest factor in a major purchase is how much time it saves me. I like doing things myself, and my time is by far my most valuable commodity.

[@marcussmith8196]

It seems to me that the moment someone becomes successful in any walk of life there is always someone jealous of them. If you are not interfering with anyone or gaining by someone else's expense whoever you are then good luck to you I say.

[@philipgarrett4758]

Haters gonna hate, should be a life lesson. No matter what, if you are doing great things and having success at it, some people just seem to need to hate on it.

[@rebelcitysports1outlook713]

In 2021, the threshold of success is envy disguised as hate.

[@rexwoodall2179]

Rex from Charlotte. Mike and Melissa, it was the right decision, buying the excavator! This machine is so versatile that you have not discovered it’s full potential nor it’s final dollar justification. Plus your grandson loves to watch it in operation with his Pap and that is priceless! Stay the course, push your channel forward and please, you two, keep great content coming forth! Love your channel...!

[@MrUSNMasterChief]

Don't worry about what other people think. If it's what you and Melissa want and you can afford it, Go for it...

[@jgk9820]

great job at explaining your rational Mike. As a Retired CFO, love the thought process.

[@noelgreen9381]

Good video. A comparison to rental cost per hour for an excavator would also justify the purchase. Cheers.

[@philsmock4943]

Phil here from NE Indiana. I can't believe someone would question your purchase of that excavator. You are constantly using it for just about everything you do. It's in almost every video. I love it. I want one. I have no need for one but watching you...I want one. I have even checked on the price of used ones in my area. So for this subscriber you don't need to explain to me why you bought that excavator. I think you're saving money and time.

[@bykrmom]

"At least that's what I tell Melissa" made me shoot coffee out of my nose! Hahahahaha!

[@bobmurphy3707]

Completely justified.. no explanation required! Your decision, your satisfaction! Enjoy..

[@johnraley5713]

I see pickup trucks in the neighborhood that cost more than that excavator. Most are just used for transportation.

[@heilwoodworkingandmore1892]

Appreciate you sharing your math and ROI. Commend your transparency. It's your money and don't stress about the opinion of anyone else that isn't writing the check. Thanks for sharing your adventures.

[@helodriver20]

Video could be titled, "How can I NOT have an excavator." They are worth their weight in GOLD. Period.

[@kenthomas2143]

Mike, your rational presentation and reasoning certainly justified your purchase of your handy useful excavator. One item you may have overlooked is the cost you would have had to pay if you rented the same machine for all those chores you did yourself. I've been a fan of OWTM's since its conception and look forward to many more years of the same wholesome entrtainment.

[@kennethanderson3129]

Mike, you might want to run a cost per hour on the excavator you rented as a comparison. Could be interesting.

[@gordoneigner7565]

$550 a day 10 metered hours where I’m at.

[@uberuser1999]

Mama didn’t raise a fool! I hope this puts to rest all the naysayers and negative comments about the excavator. You obviously did your homework and it is obviously paying off. It’s easy for people to toss around negative comments but this video is the perfect response. It works for YOU! Boom!

[@ijones2011]

Good morning. That's a good one. It's funny when you have to start providing a disclaimer with your videos, so that the other halves don't line up at the complaint department.

[@jimcoogan1529]

Over the years I have had to rent a small excavator which is over $400 a day. Takes time to get it back and forth, needs fuel, takes time to clean it or you get a cleaning charge, and you pay insurance in case you break it. Plus you need to plan ahead to make sure you have the time planned for yourself and the equipment is available. And having someone else come in doubles the cost. So doing everything you are doing on your property makes that a wise purchase.

[@matthewdoran3561]

That’s a great explanation you didn’t have to make!😊 You do you and do it well! 👍😉

[@hsearing1]

Mike that was the best video ever. I really appreciate your candor and integrity in your videos. I rented a e50 for a week last week and yesterday sawed logs on a neighbors sawmill, both new things for me. I am loving all the things you talk about and do on your property. Truly you are apprecited!

[@TheChief3102]

Good morning Morgan’s! Mike, I look at it like this....it’s your life, your money and your happiness, so live your life, spend your money and enjoy your happiness! Life is too short and fragile to stress about others opinions. Have a day!

[@RLGurnsey]

Mike, that was a well thought out and thorough breakdown of the cost savings for your use case. It definitely helps to understand your thoughts for the use case and the purchase. I recently purchased a new tractor because of the projects around the house that needed to be completed. I wish I could say I thought it through and broke it down the way you did. I will be doing that over the next week. I'm sure the cost savings will be an eye opener. Thank you for the great content and sharing this with all of us.

[@timkd5vmv583]

Mike, you forgot to figure in the “Ty” factor. The hours he spends watching you are priceless!!

[@elihujohnson9234]

It’s worth every penny to teach the next generation something they can do with their hands.

[@southernfirewood7144]

Really good information. No worries about me talking the wife into a big purchase. You be you Mike! God bless!

[@jimmycagnee65]

Great Video, I wouldn't be too concerned what others think, you are an inspiration to so many of us. Cheers and blessings.

[@jaykaydee5772]

Excellent cost analysis. Other savings would be cost avoidance for machine rentals - You’ve proved your point . . .

[@garyfox8170]

I was more shocked that you bought 2"x4"'s for the stone wall project.

[@frankneely6225]

Lol

[@straffordacres68]

I appreciate your business approach, I find the decision making very difficult, your explanation of the process was very helpful, thanks and God bless

[@ronnchase4872]

“take that, Johnny IRS !!! Made me snort my coffee. I love it! Nice vid Mike.

[@lorallamb2673]

Let's hope Johnnie IRS wasn't listening!?!?

[@ronnchase4872]

@@lorallamb2673 I thought the same thing

[@mcd5082]

Mike, It’s refreshing to see someone who understands math, depreciation, and cost of ownership. Very well put.

[@malcolmcavalier7849]

The best thing about buying your own equipment, is you get to do the work on your own schedule, not someone else's. I hate waiting for someone to show up for a job that I need done.

[@amossnowdaharleyman9179]

or rent. You rent a dozer for a month and then it rains for 3 weeks......

[@pedrocaballero1497]

Haters! Haters! Haters! It is so easy to point out and criticize what you do. You know better than anyone what your needs are for yourself and your family. You seem to do a pretty good job from what we see on your videos. You keep doing you. Unless someone is going to fund your operations their opinion(s) are their opinions. You don’t have to answer to them. You did a great job with all the numbers you came up and disclosed. Thanks for sharing. You and your family seem to be doing pretty good and hopefully the big man upstairs continues blessing you all. You work hard for what you have. Your videos are always a welcomed relief and a stress reliever. 😎 👍👍👍👍👍

[@HeavyIronAcres]

You forgot to factor in the smiles per hour! The enjoyment and satisfaction of doing those jobs is hard to quantify. Thanks for sharing all that! It does make sense.

[@bruceguidosh2120]

I think the biggest thing is, how much work will you need done, how much it would cost to rent or lease the machine! Your needs are best fit by what YOU can afford, and everyone's financial situation is different, and growing up doing some logging with my father and equipment that was already 20 or 30 years was no fun! I plan on renting a Bobcat 50 to thin out thick groves of Maple and Red Oak I have to improve timber quality, and I like the "dig a pit, burn, then cover" method of keeping the woods cleaned up. My goal is to get a 40-50 hp Kubota with a front loader in the near future, as I have a BX2200 (w/54" deck and fl) , new since 2000, and can't say enough good on how adaptable and well built it is Keep up enjoying what you are doing! I enjoy the heck outta your videos!!

[@drgnner6028]

I for one, am happy for you!!

[@TheSagerider]

When I first saw this video come up my ears perked up. You have laid out your thought process very well. My initial thoughts were how much it would cost you to pay someone else to do what you have been doing with your machine. There are some things that can be done with both the tractor or the excavator. Sometimes one machine is better than the other and sometimes it is a toss up. Digging out the pit for the cistern Digging the hole for Milissa’s swimming pool is well in the excavators favor. Fetching out logs, pushing trees over or moving big heavy rocks and placing logs on the saw mill with precision. I am a very safety conscious individual and sometimes we just have to make do with what we have even though it is not the best or safest tool for the job. This is where things can go very wrong in a hurry where I call working on the edges, dangerous place to be. How much is your mobility worth? How much is your life worth? How much are you worth to your family and if something happened to you how would their lives be impacted? There is no way I or anyone else could put a price tag on that. You are getting old Mike day by day and with that your abilities to do certain things will diminish like it or not. At 71 I am slowly Turing into a walking wad of pain having to take Ibuprofen every night so I can sleep. If I don’t I don’t sleep well and in the morning just getting out of bed and that walk to the kitchen to make morning coffee is a real chore, not fun. My lower back reminds me every day of the things I did to it in spades all because I did things I shouldn’t have like carrying a very heavy welding power supply up four flights of stairs by myself. It should have been flown up with a crane instead of brute force and blind ignorance. Young and dumb and now I get to pay for it. Instead of fighting my old worn out tractor every winter to plow my driveway out I cashed in my 2011 SS Camaro, which I never drove anyway, and bought a skid steer. No more stuck tractor, no more shoveling it out in subzero temperatures. I hook my skid steer up to my dozer blade and I am back in the house just as the coffee is done perking. I did rebuild my tractor so now that I need it for digging post holes for my wood shed she is ready to go to work with me, saved a bunch of money doing it myself in the process. Doing what you guys are doing on the homestead you don’t need anymore justification than it makes my life much easier and safer. The things you are able to do with your excavator is amazing, such a fantastic machine. Your run down and analysis is right on the money Mike. 👍

[@jimkempton5568]

Probably one of you’re most interesting videos Mike!

[@ronniefeatherstone7909]

No explanation needed. Your doing just fine with that much acreage. You & Melissa do great.

[@jeffbutton9611]

This is a well thought and comprehensive analysis. Good video.

[@peter6244431]

I thought the same as you.

[@Dorchwoods]

I rented a bobcat e35 for a weekend and even though it cost me about $650, I did over $5,000 worth of work myself, even taught myself how to operate it. I am a numbers guy so I appreciate you breaking it down this way, maybe I can convince the old lady to let me buy one now hahahah!

[@billbadger3127]

When you retire, you are going to be the busiest retired guy I know!

[@davel2223]

Hey Mike as we get older, machinery helps get the job done. As for comments in the negative, who gives a flying flip what you do if you can afford it, go for it and enjoy the journey, comfort is worth a lot. I would do the same given the circumstances. Always work with the mind instead of the back. Go for it Dave

[@howardmorrison2043]

Hi, Don’t let any one take your joy from you. I love what your doing. God bless you and your Family.

[@jpolicicchio2021]

Mike, after 13 minutes of listening to you on your video, I am convinced it was a very wise purchase. I was impressed with your finance skills which is a side of you we don't get to see. What you did not factor into the cost per hour is the satisfaction, pride and relaxation that the excavator brings to you personally. For those reasons alone, I think you your purchase was a wise decision!! Enjoy it!!

[@erice9536]

I was really wondering what you would possibly do with that machine when you bought it. Quickly became apparent the answer to that questions is "A LOT!" Now after yesterday's video, bet you are running the same calculations on that kiln. Nice discussion today. I bet some of the naysayers have an $80K boat they use 3 months per year. :)

[@techauthor324]

No complaints with your logic. Have a great day.

[@tophat7199]

Great video as usual but it is sad times when a grown man has to justify him self to others

[@smoke09able]

Good explanation on your cost analysis Mike, not that any is needed. It's your machine so enjoy it!

[@rcote1234]

Mike, great job with the financials / ROI breakdown. I do this type of ROI analysis for work, in an I.T. context, so it’s nice to see your efforts here. I can think of a few more line items on the (optional) revenue side to add to your list, but I’m sure you know about those already and you are being conservative with your numbers. Great job, and thx.

[@richardlefrancois7886]

Thanks for sharing all that you are doing. I was curious about the costs of buying, owning, operating, a machine of this type. That you share this with us is very generous. I enjoy watching the progress your making.

[@dodgeman658]

Mike very informative have to explain that to my wife so I can purchase one too! Very well put can't let peoples comments get under your skin. No matter how hard you try to explain there's still going to be people with different opinions

[@wibiles3756]

Mike, Kudos to you. If you have a machine that you are paying for, It is nobody else's business to naysay it. I have a small yard tractor, I use it for mowing mostly, but have made or bought attachments for it for me to use. It was expensive for its size and capacity, but I love it every time I use it and it is paid for. Some people said I spent too much money for it, and some said it doesn't do enough things to be worth it. To me, I don't worry about others opinion about it. It's mine , I enjoy using it, and I don't care what somebody else thinks about what I use it for. That is my opinion, for what it is worth. Do what makes you happy! I grew up on a dairy farm in PA, and my dad got my first Ferguson tractor to help him make the farm work more economical time wise. It sped up the crop planting, harvesting, and helped my dad beat the rain storms that used to hit and destroy part of our crop production. Whatever that works is what you need to do.

[@dwightarnold6980]

NUMBER 5! GETTING BETTER! MIKE IT'S YOU'RE MACHINE! DO WHAT YOU GOTTA DO 💯 ! KEEP THE GREAT VIDEOS COMING! TELL THE HUNT MAN AND THE REST OF THE MORGAN FAMILY 👪 I SAID HELLO AND 👋 HAVE A DAY!

[@deerepasture]

Good Summary, anytime you can reduce taxes with something you can work with, do it!! Given machinery inflation you should easily get the used number, probably a lot more, reducing the cost per hour even more. Melissa, he did good!

[@Penskop]

In Germany we say: it‘s better to have it, than to need it😎😁👍 BTW, my prefered way of life - if affordable😉

[@jimroeske2049]

Hiring a machine like that would cost a lot per hour of use

[@johndrury2231]

Great explanation of the costs of owning and operating the excavator. All that info in addition to the convenience and enjoyment of owning it.

[@kurtsimmons1587]

Mike you should checkout tractor time with Tim. He has an insurance guy that can let you know if you are being overcharged or not on your machinery! I hope this helps you out!

[@johne9341]

Every KZbinr has so many naysayers. You do great videos and I bet most of your real fans don't post comments that are negative or critical. We love your explanation of ROI, and residual value of your equipment. Kubota provided my tractor and now we may purchase and excavator for all of our projects. Based n your math and the value of my time being retired I would rather take more time and do it myself than having companies up here with employees who are just trying to get the job done in the shortest amount of time and may overlook minor flaws in the project.

[@badcat4707]

Good morning Hunter ;-) and family ;-) / I don't have room in my apartment for an excavator - lol ;-)

[@HallnoutMhall]

Good morning Rick

[@badcat4707]

@@HallnoutMhall Good morning Michael ;-)

[@LaddGardner4]

@@badcat4707 With an excavator, you can make more room in that apartment, pronto. :)

[@davidmorse8432]

Hi BadCat! Get a scale model. I have them all over my place.

[@badcat4707]

@@davidmorse8432 Good morning friend , I had thought of something similar , I wanted one of those tall boom cranes , and tried to find one in the old Mechano sets , but couldn't find what I was looking for . ( yet )

[@rogermacdonald9126]

Hey Mike. & Melissa if I wasn’t 78 years old I would definitely to work like to work for you guys …. Definitely my kind work !!

[@MrBillfrog]

If you can write the check without an adverse effect on your family, more power to you.

[@stevemartinez6757]

I like the way that you broke it down and explained it. It makes sense. One other point that can come into play is "making money" with the machine. As an example, getting firewood logs out of the woods that you eventually turn into income or perhaps lumber should you ever start selling some. The other key point that you briefly touched on is the most efficient tool for the job at hand. Working in the woods, an excavator is very often the easiest, safest and most efficient way to do things. I've seen it first hand when I've hired my friend who owns one much like yours. Of course, my friend gives me the "buddy rate", but I don't mind paying him for his time and the operating costs (including transportation) for his machine.