|
| I'm in agreement with Gary to a degree.........its going to get better if you have a plan and pay attention. KEEP the cows, think of them as an assest like land......they look better on paper more than anything. I've been where you are, like was said before......find a niche and run with it for extra cash, doesn't have to be a stump grinder........detail cars or farm equipment, clear fencerows, build fence, hay.....not a big $$$ but steady cash, paint bins, etc.....whatever to cover living expenses......you are really in decent shape, selling assests is only going to help right now. Do not mortgage the farm.....repeat don't, you'll just have that much more to worry about.....
I joined the family farm right out of junior college......signed my name on a 3xx,xxx hog barn and have been SLOWLY plugging along. I can't seem to get in the door on renting some ground, so I bought a nice set of cows to run with mother dearest's herd. I'm within striking distance on paying off my hog adventure.......which is a real blessing after swimming in red ink for 3 of the last 5 years. I make good money, but no room for "personal" expenses, all has to go back into the farm.....so I cleared the gully behind my house and sold the firewood to keep the lights on and keep food on the table. I don't plan on ever darkening a loan officer's door again, unless I'm planning on buying ground....
Good luck and give it hell....... | |
|
personal question?
