northern MN | If the value is $40k they shouldn't borrow more than $24k against it. Rule of thumb should be 65% is what i have lived with but as coup stated, if you depend on the value of the machines for equity... your cost of production will be too high. Farming is a tough business to get started in, i believe most of us that have survived did so by running older "sweat equity" machines at some point. |