West of Lincoln a little bit | we do a combination of both. 30-50% of our truly extra profit goes toward bonus principle payments, the remaining 50-70% is put in savings for rainy day or land opportunities. I'd hate to miss out on a land deal, but also don't want to take the full 7 years to pay off our notes. Land deals look to be far off, but hey, you never know when one might appear. At this pace I can pay machinery loans in 2-3 years, mortgages in 7-10 and still have money in savings for future opportunities. The current economic turmoil has me questioning things daily, our approach helps me sleep at night feeling good about both ends (debt paydown and cash building). |
How low of an interest rate would keep you from paying ahead...
