No crash in land prices coming. I"ll be really surprised if there is even a 10% correction.
So let`s just say that you could get the place for about $720,000. You maybe could borrow $600,000 of that if you had $120,000. to put down. The payments are going to run you around $3,500. a month or $42,000. a year, and I`d think other expences will at least equal that amount. You`d also want to be able to pocket around $30,000. a year with that kind of investment of money and labor. So, is there $115,000. a year to be made out of that ground, with the herd you have? Can you handle a bigger herd on that ground, and will the facilities handle the load? If you have to buy more cows or rent more ground all the expenses go up too.
I"m not setting in your chair, but from here it looks to me like a pretty sure and short trip to going broke. Which in my opinion is a pretty darn bad worst case. Now if I`m wrong and land prices change, say 30% down turn, while interest and everything else stays about the same... then... maybe...
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Today's Featured Article - Upgrading an Oliver Super 55 Electrical System - by Dennis Hawkins. My old Oliver Super 55 has been just sitting and rusting for several years now. I really hate to see a good tractor being treated that way, but not being able to start it without a 30 minute point filing ritual every time contributed to its demise. If it would just start when I turn the key, then I would use it more often. In addition to a bad case of old age, most of the tractor's original electrical system was simply too unreliable to keep. The main focus of this page is to show how I upgr
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