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| If you have enough ground to retire comfortably then your base is big enough to pay down that debt fast and there is no reason to sell.
If your operation is small enough that you feel crushed by this debt then retiring 5 years early might not be in the cards anyway
If it's machinery debt, well lesson learned I guess. $1M in machinery debt is enough to farm like 3-4K acres. And that's if it's all leveraged. Might be closer to 5-6K. If you are farming that much $1M is a slash in a bucket
Then there is this thing called a tax bill when you sell this higher dollar dirt. What's your plan there? | |
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Wonder how the "sell land and use that money to rent more ground" strategy is working out?
