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Farmington, Mo | Todd hit the nail on the head...
Scale of the purchase matters too. I’m talking about parcels ranging from 25 to 160 acres...you go out buying a half section or more, the annual payments become burdensome depending on the current size of your operation.
It really boils down to percentages. If you have 1000 paid for acres or 10,000 or zero, your purchasing power is all relative.
My Dad and I are NOT where we are financially solely because of what We have done individually or jointly...however, the same principles can be applied to someone starting from zero, they just have to have an income source to make the cash flow for the initial purchase or two. Much like rental houses, once the first couple are paid for, they help pay for the rest... | |
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paying cash vs financing
