Buying a farm in Canada

[TexasBred]

well theres good an bad bankers every1 knows that.an depending on who you are they rarely turn you down if you have a good banker.we was going to buy another 80 cow herd in the 80s,an went an talked to the bank.they said the cows wasnt good enough.an said no,that made my dad madd.so he told them he was paying his note off an pulling his accouunts.an when he went in to pay the note off they told him to go get the cows.we decided not to buy the cows anyway.

A good banker is the one that DOES turn you down when you don't qualify for the loan you're asking for. It's business and he has to approach it as such. Friendship should never cross his mind.

 

[bigbull338]

well it wasnt friendship an he could get a loan anywhere thats why they decide todo what he asked them for.they thought they could bluff him out of it.when he knew what he could do you didnt tell him no.im pretty much the same way.

 

[TexasBred]

well it wasnt friendship an he could get a loan anywhere thats why they decide todo what he asked them for.they thought they could bluff him out of it.when he knew what he could do you didnt tell him no.im pretty much the same way.

Seems to me after they had already told him the cows weren't worth what he was paying for them and he still insisted they just figured "you deserve what ever happens with this deal" and made the loan. Apparently it had nothing to do with his qualifications...only his judgement in cattle quality". Only time I wsa ever turned down for a loan was when I was about 25 and wantin' this old used car......banker told me later I was gettin' screwed and he was just helping me out. I appreciated taht.

 

[bigbull338]

well it wasnt friendship an he could get a loan anywhere thats why they decide todo what he asked them for.they thought they could bluff him out of it.when he knew what he could do you didnt tell him no.im pretty much the same way.

Seems to me after they had already told him the cows weren't worth what he was paying for them and he still insisted they just figured "you deserve what ever happens with this deal" and made the loan. Apparently it had nothing to do with his qualifications...only his judgement in cattle quality". Only time I wsa ever turned down for a loan was when I was about 25 and wantin' this old used car......banker told me later I was gettin' screwed and he was just helping me out. I appreciated taht.

old buddy they didnt turn him down on the loan,they tryed to get him to pay $1400 for heifers insted of $900 for the cows.an told them they had lost it.those cows weighed 1400 to 1600lbs,an weigh prices was .60 a lb.so the cows was the best deal.because you could milk most of them 3yrs an make money.didnt matter what he was doing you usually didnt buck him.because he had already thought it out.an he gave them alot of business.1 year we bought an rigged up 3 dump trucks.then maybe 18 months later bought another truck an rigged it up.

 

[TexasBred]

Ok...whatever. :???: The story keeps changing. :help:

 

[bigbull338]

the story dont change just whats bought at differant times changed.i still do business today the way he did years ago.i got madd before i bought the tractor an settled my note withem the day i was madd.an they knew i was madd.my mom tryed to get me to cool off.because she knew i prolly wouldnt back up an do business with them ever again.an go back to cash deals.so i called when i was buying the tractor an told her how much the check was she said ok.then she goes anytime i want money come get it.

 

[Lon]

well theres good an bad bankers every1 knows that.an depending on who you are they rarely turn you down if you have a good banker.we was going to buy another 80 cow herd in the 80s,an went an talked to the bank.they said the cows wasnt good enough.an said no,that made my dad madd.so he told them he was paying his note off an pulling his accouunts.an when he went in to pay the note off they told him to go get the cows.we decided not to buy the cows anyway.

A good banker is the one that DOES turn you down when you don't qualify for the loan you're asking for. It's business and he has to approach it as such. Friendship should never cross his mind.

yup i just started a year ago with my uncles banker. uncle cosigned the note for me and banker said pay it off and ill loan you whatever you want. uncle and the banker are real good friends and uncle does have a problem with borrowing too much money at times. so when this happens even if what he wants to get is a good deal and has enough collatoral to secure it if he cant truely afford it the banker will tell him no. not till he pays his note down a little. in my opinion another bank would give him the money but this banker telling him no is doing him a favor.

 

[bigbull338]

i guess ive just seen the good sides to having a good banker,as well as seeing what a bad banker does to people.i watched a banker put a friend of out of the dairy business 3 or 4yrs after they put him in.an it was all because they wouldnt do what they said they would do.an the same bank did the samething to another friend that was in the dairy business.now mind you i dont speak of things that i dont know about.talking bout all of this reminds me of a talk that me an a friend got into years ago.we was talking bout a guy i knew in dallas that was a very wealthy dairymen in the middle of mesquit texas.i told my buddy how much this guy was worth.an he goes your full of it.i go talk to mom an she will tell you.so he did an he bout died when she confirmed everything.what really blew his mind was when i told him about the friends private island that he owned in greece.

 

[Lon]

i guess ive just seen the good sides to having a good banker,as well as seeing what a bad banker does to people.i watched a banker put a friend of out of the dairy business 3 or 4yrs after they put him in.an it was all because they wouldnt do what they said they would do.an the same bank did the samething to another friend that was in the dairy business.now mind you i dont speak of things that i dont know about.talking bout all of this reminds me of a talk that me an a friend got into years ago.we was talking bout a guy i knew in dallas that was a very wealthy dairymen in the middle of mesquit texas.i told my buddy how much this guy was worth.an he goes your full of it.i go talk to mom an she will tell you.so he did an he bout died when she confirmed everything.what really blew his mind was when i told him about the friends private island that he owned in greece.

i will agree that there are bad bankers. they will loan you more money than you can afford and have you put everything up against the loan so when you do fail to pay they can get everything, but this is thier job. they have to protect thier money to, its a business not a loan from a friend or family. ultimatly i have never seen a banker that has ever forced someone put pen to paper. signing that note is the persons choice and really it is up to them to know if they can afford to make the payment. when i bought my haysled the banker told me i could buy a 90 thousand dollar one if i wanted. is it because he wanted to own that haysled when i couldnt make the payment i really doubt it. i chose to buy a 30 thousand one instead. if the truck doesnt go to work i can make the payment on the 30k one but sure couldnt on a 90k one. this is were it doesnt matter what banker i wouldve used it was still my decision to decide what i could or couldnt afford. but thats just my opinion on how working with loans goes.

 

[Angus Cowman]

Mentally challenged ranting again

 

[TexasBred]

the story dont change just whats bought at differant times changed.i still do business today the way he did years ago.i got madd before i bought the tractor an settled my note withem the day i was madd.an they knew i was madd.my mom tryed to get me to cool off.because she knew i prolly wouldnt back up an do business with them ever again.an go back to cash deals.so i called when i was buying the tractor an told her how much the check was she said ok.then she goes anytime i want money come get it.

Just glad I wasn't the banker.I'd have sent the whole family down the road with a cashier's check for the total of their deposits and told them it was time someone else put up with their threats and arrogance. Too many good customers out there to have to put up with that kind of :bs: :bs:

 

[Angus Cowman]

Too many good customers out there to have to put up with that kind of :bs: :bs:

TB there was a man in Northwest Mo near where Plumber Greg lives that sounds just like OL BB
he robbed, and bullied people for yrs and caused general fear in the local people until they had enough and finally he got shot numerous times with numerous weapons right in the middle of town in broad daylight and Nobody seen what happened the whole town was hiding under the pool table in the local bar one reporter said it must have been the largest pool table in the world

Now I think ol BB and this guy must be brothers and I bet the people of the county he lives in trembles in fear when BB walks by

 

[Lon]

Too many good customers out there to have to put up with that kind of :bs: :bs:

TB there was a man in Northwest Mo near where Plumber Greg lives that sounds just like OL BB
he robbed, and bullied people for yrs and caused general fear in the local people until they had enough and finally he got shot numerous times with numerous weapons right in the middle of town in broad daylight and Nobody seen what happened the whole town was hiding under the pool table in the local bar one reporter said it must have been the largest pool table in the world

Now I think ol BB and this guy must be brothers and I bet the people of the county he lives in trembles in fear when BB walks by

:lol2: :lol2:

 

[gimpyrancher]

Should would love to hear about farms/ranches in the southern BC and/or Alberta areas. Should would love to become permanent.

 

[csr]

I find your prices very unusual -- where in Ontario are you getting land for $700/acre (canadianfarmboy), or even $1046/acre (aaron)? Where exactly are you guys? Perhaps I should move..

In my area, in midWestern Ontario, I've been offered a deal on 65 acres for $8000/acre, or $520,000 total. That's for flat land across the road from my place, clay base, tile-drained land that has no fences, and I'm told cannot be built upon. I find that a bit rich.

One mile away an older dairy operation (no quota, no cows) has 100 acres, some drained, indifferent fences, and a run-down house & barn, and is now for sale privately, asking $900,000, or $9000/acre.

In 2009, a 160 acre parcel with heavy clay and no tile drains but decent building (barn, silos, sheds and a decent 3br house), turned down high offer of $820,000 at auction - $5125/acre.

I was offered $3000/acre for a 25acre parcel in 2003, it was an unsolicited offer and I turned it down.

Even with $7 corn, these prices seem too high. And this isn't great corn country (only 2500 heat units).

 

[Aaron]

I'm right at the corner of Manitoba, Minnesota and Ontario. We are about 2500 heat units here too. Corn will do 120 to 150 bushels an acre here. Clay soils.

At $1046 an acre, it is actually grossly overpriced for this area. Very little land goes for more than $500 an acre here, and it has to be prime cleared land. Most goes in the $200 to $300 range, or even less. That is why that same family has been sitting on that farm for over 3 years now. Overpriced. The house is worth it alone, but like I tell everyone, house values are all about location, location and location. A new house built out in our area for $300,000 will sell for $200,000 10 years later. But people ignore that fact and than whine when they can't get the value out of their house. Land is not an investment here. It's a resource and you pay based on the local market price, not speculation.

We are very isolated here in relation to markets, so that is why land is cheap. One of the few people that have inquired about that farm were Amish from around London, ON because the city is crowding them out....and even they are a little intimidated by how isolated they would be out here.

 

[Aaron]

My mistake, that place is listed for $1027 an acre.

 

[csr]

Thanks, Aaron - looked at the heat unit map for Ontario, and I see Stratton and my neighbourhood have equivalent average 2300-2500 heat units. But you're way further North! My wife is a Northern girl who hates winter. Guess I won't be looking for cheap land up there.

The amish/mennonites of Kitchener-Waterloo are moving 30-50 miles North due to high land prices, as RIM drives the city's growth. Mt Forest and Conn now have more buggies now then I remember. But the land up there is a poorer quality (poor drainage, more clay). There is also cheaper land around Shelburne, currently growing windmills.

 

[Lon]

I'm right at the corner of Manitoba, Minnesota and Ontario. We are about 2500 heat units here too. Corn will do 120 to 150 bushels an acre here. Clay soils.

At $1046 an acre, it is actually grossly overpriced for this area. Very little land goes for more than $500 an acre here, and it has to be prime cleared land. Most goes in the $200 to $300 range, or even less. That is why that same family has been sitting on that farm for over 3 years now. Overpriced. The house is worth it alone, but like I tell everyone, house values are all about location, location and location. A new house built out in our area for $300,000 will sell for $200,000 10 years later. But people ignore that fact and than whine when they can't get the value out of their house. Land is not an investment here. It's a resource and you pay based on the local market price, not speculation.

We are very isolated here in relation to markets, so that is why land is cheap. One of the few people that have inquired about that farm were Amish from around London, ON because the city is crowding them out....and even they are a little intimidated by how isolated they would be out here.

sounds like i should move. land brings round the 500 mark here. pasture not farm ground. some pasture sells pretty easy for 800. i might be getting some for the 2-3 range though. but we sure dont have 120 bushel acre corn. 90 on a perfect year was the best i ever heard of. but people plantin it aint farmers either so could be the way raised. i know where farm ground is good next county over from us close to 50 or 60 miles east a guy just sold his for 1600/acre and turned downs 1400 for quit a few years.

 

[Aaron]

I'm right at the corner of Manitoba, Minnesota and Ontario. We are about 2500 heat units here too. Corn will do 120 to 150 bushels an acre here. Clay soils.

At $1046 an acre, it is actually grossly overpriced for this area. Very little land goes for more than $500 an acre here, and it has to be prime cleared land. Most goes in the $200 to $300 range, or even less. That is why that same family has been sitting on that farm for over 3 years now. Overpriced. The house is worth it alone, but like I tell everyone, house values are all about location, location and location. A new house built out in our area for $300,000 will sell for $200,000 10 years later. But people ignore that fact and than whine when they can't get the value out of their house. Land is not an investment here. It's a resource and you pay based on the local market price, not speculation.

We are very isolated here in relation to markets, so that is why land is cheap. One of the few people that have inquired about that farm were Amish from around London, ON because the city is crowding them out....and even they are a little intimidated by how isolated they would be out here.

sounds like i should move. land brings round the 500 mark here. pasture not farm ground. some pasture sells pretty easy for 800. i might be getting some for the 2-3 range though. but we sure dont have 120 bushel acre corn. 90 on a perfect year was the best i ever heard of. but people plantin it aint farmers either so could be the way raised. i know where farm ground is good next county over from us close to 50 or 60 miles east a guy just sold his for 1600/acre and turned downs 1400 for quit a few years.

Other crop info:

Oats will do 70 bushels on a bad year and up around 120-140 on a good year.
Barley does poorly here, but some people have a green thumb with it and can go 60 bushels
Wheat is similar to barley in that it has a hard time, but it can go 100 bushels
No one does canola or soybeans here.
Hay, generally 2 tons to the acre is the low end of the spectrum. With the right mix, you can hit 5-6 ton to the acre.

I sure wish more 'normal' farmers would move to this area. Got a slug of Mennonites around here that are irritating as hell. Big talkers, but they believe God should provide everything for them, so their cowherds are disgusting and they never fertilize or properly work their fields. I shudder to think what Amish would be like. :cowboy: :bang: