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SW KS, near Dodge City | Unless he was so far out of the market when he bought it then he can easily recoup the working capital lost to the down payment by selling the last purchase, even after cap gains. Five years ago a 15k sale would light up NAT. Now it takes 20k… Realistically he’s probably gotten another couple hundred K in equity in it if it’s sold.
Not a fun situation, but not the end of the world either.
Edit: unless a lot of the other debt is land debt, someone should have been putting the brakes on equipment purchases a while back. Or he has some debt payments about to drop off.
Edited by pknoeber 1/25/2023 06:17
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Real World/Real life Financials Course 102
