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Saronville NE | I love people who say you have to run that old stuff to be able to buy ground, my history with running old stuff is it will keep you broke UNLESS you can do the repairs yourself. Like the 4850 reply above, my banker made me buy a 4850 yrs ago over a 8300, the 4850 had had some money spent on it allready, but over a 2 yr period I spent another $27k in repairs, I had more money in that 4850 then I woulda gave for that 8300, I woulda still had the 8300, but the 4850 got shipped down the road, even after that it was just more repaird every yr so I dumped it. The extra payment amount woulda been easy to swallow vs a BAD repair bill, thats what alot of guys miss in there thinking on running old equipment.
Its not easy buying your first farm, but if they want you to have it get signed up and get the paperwork done for FSA they will get more money in either sept or oct when there new yr starts, then you will be ahead of the line again. Or you will get the money ahead of them with a bridge loan thru the bank, the bank will take 50% and FSA 50% and bank will have first lien so they will always go with that cause they have lots of equity in it then. Dont get discouraged by what some others have said. | |
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How to buy ground?
