Posted by John T on October 31, 2007 at 20:49:41 from (66.244.83.147):
In Reply to: buying farmland.... posted by need your advice on October 31, 2007 at 19:46:32:
Id say if you cant afford to buy it if it doesnt yield a certain x amount of positive cash flow, better not HOWEVER dont let that stop you, if it had me Id never of owned any of the several farms Ive had over the years lol which did pay off handsomely when I re sold them (despite negative cash flow during my ownership). I guess what Im saying if you need some sort of guaranteed income from it and would go belly up without it, better be careful... but a family farm cant be measured in dollars alone, ITS YOUR CALL
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Today's Featured Article - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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