Hi Scott,
Just confirming were you looking at this motor here? 150:1 Metal Gearmotor 37Dx57L mm 12V (Helical Pinion) | POLOLU-2829 | Core Electronics Australia
If you were to balance the object with another 40kg mass that means that you only have to overcome the friction in the system (and any momentum in the system) - this also keeps the object still when raised.
Do you have a pulley in mind? All ‘levers’ are multiplied together to get your final torque and speed.
Without jumping into the math there is always the buy-and-try technique!
 
          


