Yesterday's Tractor Co. Shop Now
   Allis Chalmers Case Farmall IH Ford 8N,9N,2N Ford
   Ferguson John Deere Massey Ferguson Minn. Moline Oliver
Classified Ads
Photo Ads
Tractor Parts

Discussion Forums
Project Journals
Tractor Town
Your Stories
Show & Pull Guide
Events Calendar
Hauling Schedule

Tractor Photos
Implement Photos
Vintage Photos
Help Identify
Parts & Pieces
Stuck & Troubled
Vintage Ads
Community Album
Photo Ad Archives

Research & Info
Tractor Registry
Tip of the Day
Safety Cartoons
Tractor Values
Serial Numbers
Tune-Up Guide
Paint Codes
List Prices
Production Nbrs
Tune-Up Specs
Torque Values
3-Point Specs

Tractor Games
Just For Kids
Virtual Show
Museum Guide
Memorial Page
Feedback Form

Yesterday's Tractors Facebook Page

Related Sites
Tractor Shed
Ford 8N/9N Club
Today's Tractors
Garden Tractors
Classic Trucks
Kountry Life
Tractor Talk Discussion Forum

Re: crash course on land buying (long post)

[Show Entire Topic]  

Welcome Guest, Log in or Register
Author  [Modern View]

12-12-2012 07:17:37

Report to Moderator

Lot of good advise, I'm mostly repeating I guess....

Talk to banks, find out that wont work, they have the govt house loan setups, can't work with farmland interest rates and equity is way way too high....

Talk to credit unions, find out they are friendlier, but won't cash flow for you. Better than a bank, but same basic problem...

Talk to Farm Credit Services find out they are the best deal as they are the ones tailored to ag land, but you will need 50% cash to make it approved. Everyone is scared of the current ag land bubble....

Talk to FSA, get into the beginning farmer program, that will lower interest quite a bit, but you have a world of paperwork to get done, on and on. You will not be allowed to cash rent the land you buy, you might be able to crop share it so you are making farm decisions, but they want to deal with farmers, not landlords, you will find many issues to comply with. Might as well get this checked out so you know where you stand....

Find some land to buy, have 50% cash to put down, and sign up the paperwork you did above.

This will be your process. Don't skip the banks and credit unions, but you'll end up with the last 2 most of the time.

It's hard to own farmland when you don't own any to begin with, no equity, the big farmers can easily get bigger with a 40 or 160 here and there and cost average all their land costs; you need to make that first purchase cash flow sometime soon so you just can't pay what they can..... It's very hard to break into the farmland game...... Did you notice you need 50% cash these days, that is a big hunk of cash on even a 40.....


[Log in to Reply]   [No Email]
[Show Entire Topic]     [Options]  [Printer Friendly]  [Posting Help]  [Return to Forum]   [Log in to Reply]

Hop to:

Fast Shipping!  Most of our stocked parts ship within 24 hours (M-Th). Expedited shipping available, just call! Most prices for parts and manuals are below our competitors. Compare our super low shipping rates! We have the parts you need to repair your tractor. We are a company you can trust and have generous return policies. Shop Online Today or call our friendly sales staff toll free (800) 853-2651. [ About Us ]

Home  |  Forums

Copyright © 1997-2018 Yesterday's Tractor Co.

All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy

TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.

Yesterday's Tractors - Antique Tractor Headquarters