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North of London | In the long term land is the best buy BUT you have to be able to cash-flow it because it has never paid for itself the first few years and that is the trip line.
Too much debt in land or machinery and you WILL be out of business with a poor crop or some other unexpected down turn.
New machinery is nice but it is usually bought for the neighbours, no just for them to look at.
Do not forget that sometimes it makes money to hire work done instead of owning machinery to do it.
Do the 'pencil work' to know what pays best because at the end of the year you need a profit, what ever you buy or at least enough cash to pay the bills and debt payments. | |
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