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General Skidsteer & Technical Topics
Construction & Landscaping
Looking for input on buying a Bobcat for rental
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<blockquote data-quote="sage0501" data-source="post: 43752" data-attributes="member: 5692"><p>Hello, this is my first post and I'm glad I found this site! Lots of useful information on here!! Anyways, I have been tossing around the idea for purchasing a Bobcat skid-steer and then renting it out to people. I've considered all the basics such as maintenance and insurance. What I am more interested in, is if you guys (the presumed professionals) think this would be a good idea? I have a normal full time job and could use a Bobcat around the house, but not enough to justify buying one. I was thinking of just putting up an add on craigslist and maybe the newspaper. I would charge under the local daily rate of $160.00 to hopefully gain more interest. I also have a trailer and a diesel pick up, so I could deliver if needed. My thought is, I spend in the ball park of 35k for a basic Bobcat with a bucket attachment. We'll say 40k with all things considered. 40k divided by 110 bucks a day, means I would have to rent out 363 days to pay it off. Again this is all ball-park. So after that point, even if spread out over 2 years, would leave me with a paid off Bobcat, with roughly 3300 hours on it. Does that sound like an ok idea? Slow months I can easily make the payment myself and in the harsh Minnesota winter, I could either rent out to a snow removal contractor or do it myself. I already have a plow for the truck. Are there other things I'm not considering or I should know? I would love to hear your opinion as I don't know too much about these kinds of things. Thanks in advanced for any advice offered, I truly appreciate it!</p></blockquote><p></p>
[QUOTE="sage0501, post: 43752, member: 5692"] Hello, this is my first post and I'm glad I found this site! Lots of useful information on here!! Anyways, I have been tossing around the idea for purchasing a Bobcat skid-steer and then renting it out to people. I've considered all the basics such as maintenance and insurance. What I am more interested in, is if you guys (the presumed professionals) think this would be a good idea? I have a normal full time job and could use a Bobcat around the house, but not enough to justify buying one. I was thinking of just putting up an add on craigslist and maybe the newspaper. I would charge under the local daily rate of $160.00 to hopefully gain more interest. I also have a trailer and a diesel pick up, so I could deliver if needed. My thought is, I spend in the ball park of 35k for a basic Bobcat with a bucket attachment. We'll say 40k with all things considered. 40k divided by 110 bucks a day, means I would have to rent out 363 days to pay it off. Again this is all ball-park. So after that point, even if spread out over 2 years, would leave me with a paid off Bobcat, with roughly 3300 hours on it. Does that sound like an ok idea? Slow months I can easily make the payment myself and in the harsh Minnesota winter, I could either rent out to a snow removal contractor or do it myself. I already have a plow for the truck. Are there other things I'm not considering or I should know? I would love to hear your opinion as I don't know too much about these kinds of things. Thanks in advanced for any advice offered, I truly appreciate it! [/QUOTE]
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General Skidsteer & Technical Topics
Construction & Landscaping
Looking for input on buying a Bobcat for rental
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