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Fontanelle, IA | I have no advise regarding the farm but I would strongly, strongly, strongly encourage you to have the difficult discussion with your wife about the challenge of “buying in” a farm.
It’s one thing to talk in generalities and get a “sounds okay” ….. the rubber meets the road when you start putting your house, HER HOUSE, up as collateral. Dave Ramsey always has a quote about mortgaging a house to buy the stock market because that is where RISK and emotion of risk override the math.
3 legged gunny sack race.
As for the equipment, NAT has many many threads /suggestions in past years about equipment fleet and “overhead” to farm “X” acres in “Y” location for a beginner on a budget. If you want to buy the dirt and be competitive on rent to keep the rented acres, you might NOT be able to afford ALL the equipment your mentor has - no matter how nice it is. Ie. Tax avoidance vs. payment cash flow. | |
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Farm Hand to Farmer (Seeking Advise)
