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 - Tractor Traction - by Chris Pratt. Our first bout with traction problems came when cultivatin with our Massey-Harris Pony. Up till then, this tractor had been running a corn grinder and pulling a trailer. It had new unfilled rear tires and no wheel weights. The garden was already sprouting when we hooked up the mid-mount shovel cultivators to the Pony. The seed bed was soft enough that the rear end would spin and slowly work its way to the downhill side of the gardens slight incline. From this, we learned our lesson sinc
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