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| I was young and dumb enough to dive in with both feet young. My first purchase was a bit of a distressed sale. They needed to move the half section to buy an irrigated quarter, so I bought it at a bit of a discount. Used FSA participation loan so they put down 300k (all the beginning farmer loan at the time) and the bank financed the other 75% or so. Everything I had went to buying inputs at the time. A few good crop years. A few good crop prices. And a few good years of off farm income have helped tremendously. Along with now paying back debt with massively inflated dollars. Or deflated debt. However you look at it. Grandpa said life rewards those that take action. I know some guys go broke, but it’s treated me ok so far. | |
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New bin.
