Columbia Basin, Ephrata, WA | Cliff SEIA - 10/24/2016 08:21
There are some really good buys on 5-10 year old equipment that still has shiney paint right now. Equipment might go down in value but some equipment has a much higher roi that land ever will, if my Shiney sprayer (not high dollar but a good self propelled) pays for itself in 2 years it was a better buy than land even if the sprayer is worth nothing in 5 years.
This is why I own way too much equipment.
I didn't own anything but debt when I started farming, and getting financed on enough land to matter wasn't going to happen, so equipment and hard work had to to pay for everything. Sucks that equipment doesn't hold value like land, but that's why we keep it moving to generate cash. We'll bring in more in custom revenue this year than farming grossed when I started, and we're also farming 3x more land. Both the land and equipment are making money, even this year.
I've spent more on equipment than most people will ever make, but I wouldn't have got very far without it.
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