I would comment that if he can maintain some discipline that he should escrow some money for a tough stretch to make sure the payments get made. If it is like around here people are bidding based on maximum cashflow from all enterprises both farm and non-farm. Example. 7000 acre farm makes 100 dollar per acre profit. 700,000 dollar profit less taxes to bid on a small tract of land. The operator of the 7000 acre operation is not worried about the small tract paying for itself but rather what the whole operation will generate to keep other bidders away.
Then there are the bidders that have exotic forms of financing that give them an edge. These bidders have access to money at one percent for 50 years but are limited to a purchase of what is considered a home farm. They calculate based on expected cash flow the maximum that they can pay for the farm in another attempt to out bid their competitors.
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Today's Featured Article - Box Plow Blues - by Tom Schwarz. One of the first implements most tractor owners obtain is the box plow. For very little money, this piece of equipment promises to plow and flatten any hill or vale on your ranch road or farm. At least that's what I thought! As simple as a box plow appears, it can be rather challenging to make work correctly. In our sandy soils of Florida, traction is king. You can never have wide enough tires or heavy enough weights to get all the traction you want … unless you own a monster tractor. U
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