Re: Need some advice!

Posted by This is important J.C.F. so pay attention. on February 21, 2002 at 16:55:55 from (216.248.190.199):

In Reply to: Need some advice! posted by J.C.F. on February 21, 2002 at 13:46:41:

I am an attorney, but not like the ones that everyone curses all the time. My advice is free, both here and at my office.
You are 20 years old and have a farm that belonged to your grandfather. You don't want to do anything that may cause you to lose it. Trust me, the memory of your grandfather will keep raising the value of the property as you get older.
O.K., priority, COLLEGE-get it first so you don't have to depend on one thing (farming) to keep your property. As John mentioned, check out local farmers to rent it to until you finish college and are ready to do what you like and can afford. By the way, I like that boy John from Maryland, he has a good head on his shoulders for 21, better than a lot of us grown folks.
Next, the only farmers I know that are successful are the big acreage boys, minimum of 2-3-4 thousand acres. A lot farm more land, usually rented. It is almost impossible to make a "good" living on 120 acres. If you have that college degree, a steady paycheck and a farm, you can play as much as you feel you can afford.
Finally, as someone said, never, never,NEVER mortgage your land. You do not want to know the heart break of watching a Foreclosure Sale and the family that owned the land crying while the bank takes it away. JUST DON'T DO IT.
Rent the land while you get your college, get independent and carry on with your grandgather's tradition. May my own boys have the intelligence to take this advice. I wish you well.

Follow Ups:

• Re: Re: Need some advice! John in Maryland 17:37:33 02/21/02 (0)

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