No, they spend a heck of a lot more than that! I spent 10K on the mill, but that's a cheap one. You can easily spend 70K or more for a good one.
I also spent another 8K on a lot of stuff that goes with it - phase converter, heavy -duty trailer, i-beam and chain hoist to help move the logs, log turners, and steel for making various tools (prybars, log hooks, etc). Then you need a tractor or skid steer to move the logs around, but my buddy who owns the property has one I can use anytime.
So far I've made a couple hundred bucks, but I haven't advertised my services yet as I'm still learning the ropes, and I haven't advertised any slabs or lumber yet, for they are all still drying.
But I've saved myself at least $1,000 so far by using my own milled lumber for projects. So, say $1,500 in profit/savings. Not bad for 6 months and not even open for business yet. Suppose we double that for the year to $3k, and then double that (at least) for actually being open for business, and I just might pay for it all in a few years.
But I don't really expect to get my money back, for this is something I really enjoy doing, and I wanted to have real property on hand instead of cash in the bank. I believe hyper-inflation is just around the corner, and cash is going to be worthless. Better to invest in real property and tangible goods.
