Age old question.. hire or purchase.

[USAFpj]

Hello, guys. Again looking to TBN for advice.

44 years old and own one tractor- a 50's Ford that's dedicated for bush hogging. Acreage I'm responsible for is a minimum of 6 acres, but being my Dad's only Son, possibly up to 160 acres of mixed hardwoods with food plots, log roads, and streams- we both inhabit the same land, so I feel I'm responsible for the upkeep now.

I know that a tractor will always be useful for this kind of property, but here's my situation: The one major project I'm looking at is clearing 40yr old growth from a 5 acre lake bed, to re-establish the lake. Tree size averages 8-10in, and is mostly Yellow poplar; not very dense. I will eventually do this through the hiring of an experienced professional to build the proper dam, grade, and soil work.

If I buy a Kubota M59/62, I can clear this acreage myself, but that leaves zero wiggle room for any other portion of the lake construction. However, if I spend the $30K to get the lake built back, then that money is gone, with nothing to show for it.. After the land clearing is done, not really sure if I'll need something as large as the M59/62??

I don't mind saving money, and don't necessarily have to make a decision NOW, but I feel a bit pressured as I'd love to get this lake built up as my Grandmother is still alive and can remember decades of swimming in that lake, and Dad sure would like to see it get built up as well...


You have $30K in your pocket- do you buy the tractor and save for the remainder of the project over years, or do you give it all to the construction company now?

 

[Turbys_1700]

If you have the time buy the tractor and do it yourself. If you don't have the time hire it out. If you are mechanically inclined and can do you own repairs that has to be considered also. Hiring it out relieves you of the pressure of getting it done. How old is your grandfather? How is his health? That may play into getting it done faster with a hire out for the job.

 

[USAFpj]

Hey Turby- Grandmother is 87 and in great health; Dad is 65 and is still recovering from Cancer surgery. Yes, it weighs on my mind..

 

[Diggin It]

You have $30K in your pocket- do you buy the tractor and save for the remainder of the project over years, or do you give it all to the construction company now?

I'd leave the $30K in my bank or investment account, finance the tractor at low interest or 0% if possible. That leaves some money to hire someone to do parts of the work as you go. At some point you reconsider if you need that size machine or if it's time to sell and get something smaller.

All that said, I've read some cautions about working around old water areas. The bed may not be as solid as you think. Even to walk on or take a small machine may seem OK, but a larger heavier machine can break though the top several harder inches into something much softer and less predictable.

 

[mddorange]

Hey PJ, you can have the lake built now and buy the tractor you will need for upkeep and future projects with 0% financing and have both.

You definitely need to make sure all the tree stumps are removed from the lake bed before completing the dam.

 

[USAFpj]

I hear ya, guys. Forgive my ignorance on financing, but isn't the bank going to want a percentage down, or is that only if you have less than stellar credit?

I'll heed the warning on soft ground- I'll be digging some test holes to check soil condition in July.

 

[radioman]

Hmm talk to dealer about financing. Not the bank. Typically the dealers have 0 interest which is every one is trying to say.

 

[USAFpj]

Understood. I guess I look at the dealer as a bank- especially on a $60K purchase. Do dealers want to see any cash down, then?

 

[Zebrafive]

I would RENT equipment to the do the clearing, possibly an excavator and wide track bulldozer for a month. 90 acres sold by my farm and new owner hired it cleared. They had two excavators, and three bulldozers there most of one summer. They cleared, burned, and buried rocks. They did not try and save any trees for firewood. I heard cost was $90K, $1K per acre

 

[Gary Fowler]

I am never a fan of hiring something done that I can do myself. However, regarding purchasing a new M62, you can get a full size backhoe used that is in fair shape for less than $10K and it will do far more than the largest Kubota.

If after doing your test holes you determine that a tractor will stand up on the ground, go for a used commercial backhoe with a thumb. You can also use it to dig out the muck in the bottom of the lake which I am sure will require lots more work than just removing the trees and stumps. A lake that your grandmother swam in as a kid will have several feet if not yards of deep muck that has accumulated over the century of its existence from decaying matter. This really needs to be removed in order to have a good lake bed.
This is really a big job and might require an excavator and dump truck to haul off the refuse.

OR, you could just cut down the trees, leave some stump above ground for the fish to habitat and just repair the dam. This would be the least expensive option and unless you are going to muck it out, that is really all you need to do as long as water will cover the stumps. You may need to dig out the few stumps that are along the bank or shallow areas, but for the deeper stuff, just leave the stumps. Remove all the cut down trees to a burn area, dont burn them in the lake bed as the ashes would substantially contaminate the water.

When lakes are built, they generally just log the timber that is of value and leave everything else standing for cover for the fish to hide in. That is what I would do if it is a large area and deep enough to hide the stumps. Building the dam is going to be enough of a chore to do by yourself as it is. This requires some good clay soil to hold the dam and it may need to be imported if you dont have that available at site. Consider the cost of this in your estimate to restore the lake.