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Land buying and payment
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MSR
Posted 11/27/2012 08:00 (#2719049 - in reply to #2718783)
Subject: Re: Land buying and payment


In the same position as you in a way, I"m pretty young trying to build a nice equipment line, expand rented ground, and be my own banker, tough trying to do all that at the same time. What did help was that I bought my first farm the right way and it cash flows well for me. One of the best things i've done is sacrifice some nicer things to spread how far the money will go and in turn allows me to save more money for a house or the next land purchase. Example Father who has farmed for 40+ years just bought a brand new 1 ton GMC pickup, I also bought a pickup to replace my 96 chevy, it was a low miled 04 3/4. Could I have bought new yes, but now i have another 20k to put somewhere else. In time I hope if I"m smart I'll be the one buying the brand new stuff, but doesn't work out right now.
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