The Cost of Ownership: Lost Time and Repairs

I initially bought it so in practicality I had gotten the back hole for free but now I'm air quoting because before I sold that back hole I had to move it off from one job site to another and the easiest way to move it was just to drive it down the road the main hydraulic hose is busted on that back hole I got that fixed then a secondary set of hydraulic hoses busted on that back ho I got that fixed then there was an electrical problem in the back ho where the mice chewed through that I got that fixed me and Sam ended up spending over a day just repairing this Backle to move it a couple blocks down the road now if I had rented that backhoe would I have done any of that no if I was renting that backhoe I would have made a phone call sat back and waited for the rental company to come out and fix their piece of equipment but there was no rental or anybody coming out to fix that piece of equipment besides Sam andai and both Sam and aren't the best mechanics we can get by in a pinch but I W call us up to do any major repairs so did I actually get that back ho for free in my opinion absolutely not I've got two decades of repairs of Maintenance of upkeep of changing tires of insuring it of doing everything that requires you to keep a piece of equipment up and running for decades so although I was able to buy that piece of equipment and sell that piece of equipment for the same price it doesn't necessarily mean that that piece of equipment was free and the thing that really cost me the most was the lost time time is a finite resource and the most valuable thing that we have and time away from jobs time away from bidding estimating from refining your business cost you more than a little bit of money that you can potentially make off from buying or selling a piece of equipment if you're stuck doing all of the repairs and maintenance having all of the headaches and Hassle and having your attention drawn away from what really makes your business tick and you my friends are the thing that makes your business tick more than anything so I realized pretty quickly renting made my life way easier now I rent every chance I get and I buy very very cautiously but there's an easy way to rent and there's a difficult way to rent so let's go over that next all right