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ncia | Use the entire proceeds of the crop tto pay off the principle as fast as possible. (200bpax$4=800 land payment and prepayment)try to make input costs from your other farm. Live off your other job. let your neighbors support john deere. buy their nice trade ins to farm with. The lust for the coolest shiniest equipment burns up a lot of liquidity. a 15 year old pickup will take your checks to the bank.
Part of farming is luck. YOur family staying healthy is important (believe me health care costs are big), staying married to the same spouse is important, timing of purchase can be huge, and carefully picking your ancestors (silver spoon boys) can have abig impact on any successful business.
Edited by idalivered 12/17/2014 07:24
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P & I Payments Per Acre
