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Southwest Missouri | I do a balance sheet every year and I figure my break evens every year. I currently don't have the cash to buy my father out of his equipment but over the next ten years I plan to slowly buy him out with cash. I don't plan on ever winning the top producer award and I don't have a goal to be a bto. I am thankful parents that I have and I would never call them stupid on the internet like the guy who started this thread. I could be in a million dallors of land debt right now if I wanted but have chosen not to. Anyone who is not prepared for a farm down turn that could be like the 80s is on them. The farm economy had the best 8 years from 08 to 14 since the early 1900s. A lot a people on here have ripped the big farmers in ND and MI that have gone under in the past year. So a sto who is successful and doesn't use debt I guess is evil too. My business model is to do the best I can with less acres and make more than some who goes out and bids rent up and tries to farm half the county. | |
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Farm Debt
