Hi Folks! Bought a 30acre ranch recently. thinking to buy a lightly used Kawasaki Mule Pro FXT 1000 2024 for some riding / working in the ranch. there’s some fun element to it and I do think it would be handy to have. Question is - considering the recall and issues they have had, is it still a good buy or should I look elsewhere?
Just want to get some thoughts here. I did a pretty dumb thing a few weeks ago. Paid about $750k cash for a weekend ranch (30 acres with a house plus a guest house). my financial situation is below
- Net worth $3.5 mil ( $1.8 mil in 3 real estate, one of which is rental, $1.25 mil in retirement accounts, $650k in cash and other investment accounts)
- zero debt
- $750k conservative annual income. It could be over 1mil depending on bonuses.
I want to get some work done on the ranch so I can rent it out occasionally. it’s a want more than a need. I’m panicking a bit that I may be a bit cash/house poor with the new addition. I’m thinking to downsize by getting rid of some toys (specifically a car and a motorcycle ~ $100k worth in total) just to feel “safe” and be ready for worse case scenarios. Use some of it for the repairs and invest the rest is my plan. Both wife and I have relatively stable jobs.
Am I panicking for no reason? I know I have taken a huge responsibility with the ranch purchase. Just trying to make things better.
Thanks