Seems like a lot of folks are in business only for the profit, so I'd like to point out that not everyone has the same goal. Life it not so lopsided. Us people on the other side of the scale deserve to be heard from as well.
My experience is that most people who rent are hoping to own someday and are doing the best they can to get there. I try to do my part. Taken as an average, being a landlord tends to make a profit.
As for selling used - When I sell something used it is because I believe that it has value to the buyer. I price it with that in mind. If some feature doesn't work, I point it out and reduce the price accordingly. If it is broken beyond repair I will scrap it myself; I'd never sell it to someone.
rScotty
I do hay because I like doing it. It would never pay the bills (not that I have any because I really don't), I just like doing it, always have and I only have one customer and been that way for over 5 years now.
If I somehow lost him, I'd hang it up and sell everything and maybe take a long vacation somewhere warm... Last winter he paid me for the bales I ran for him just before Christmas and that entire amount is sitting in the hay account at the local credit union. Have not touched it.
In fact each of my rentals has their own account too. The security deposits go in there as well as the monthly rental payments.
We ain't hurting like a lot of people are. We still go out to eat a couple times a week (no fast food either, sit down beaneries only). We buy what we want at the store and drive nice vehicles which are all paid for as well. I don't believe in car payments or mortgage payments either.
2 years ago my wife wanted a Suburban LTZ so we went out and looked at them and bought one and when the car salesman asked us how we wanted to finance it, told him no finance and wrote him a check for 50 percent of the purchase price and told him to have it ready to go with a full tank of gas in 2 days and I'd be paying it in full then. I thought he was gonna pee his pants. Took him the exact balance in c-notes and 50's. When I pulled that wad out of my pocket I swear he did pee his pants.
That brings us to current times and I believe this is not the time to be extending yourself. Just my personal opinion from watching and playing the markets, the Fed's interest rate hikes ( which I feel is agitating the liquidity of the dollar negatively) and the constant turmoil with this what I consider a failed Presidency.
Very bad time to extend yourself and yes tractor values have increased exponential but the value received has not increased at all. In fact it's going backwards because the dollar is loosing value quite quickly.
Sure, I can get what I paid for out of both my tractors when they were new but those dollars spent don't represent what the current dollar is worth today and one needs to always remember that.
