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SE IA | 1. Be patient
2. There is plenty of ground, don't think the piece you want is your last opportunity.
3. If you don't get the piece you want, it wasn't meant to be, another opportunity may present itself.
4. When you buy land, don't be too married to it if a better opportunity presents itself
5. Invest in land improvements that will help you generate more income. (Its cheaper to get extra bushels off the farm you own vs buying another farm)
6. Save up money for a healthy down payment.
7. Nothing is worth giving up your integrity over. Buy land honestly and do it in a manner that won't upset others ( sometimes this is hard to do)
8. Take care of it so others will notice you as operator.
9. You don't have to own every piece of land in the county.
10. Weather and markets can humble a person real fast, don't think things cannot turn around. I know a lot of farmers that paid 18% interest early 80's.
Those are my 10. | |
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10 things to know before buying farm ground
