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 - Museum Coverage: The Stuttgart Agricultural Museum - by Cindy Ladage. While cold wind was blowing back in Illinois, in Arkansas, daffodils were in bloom, and the Magnolia trees were adorned with fragrant blossoms. Stuttgart, Arkansas was the site of this year's winter Minneapolis Moline Collector's show February 25-27, 1999. The show was held at the Oliver Museum created by Don Oliver, the pioneer of the four wheel drive tractor. Oliver along with Gale Stroh and Kenneth Bull using Minneapolis Moline tractors and parts created what has become known as
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