Menu
Forums
New posts
Search forums
What's new
New posts
New media
New media comments
New profile posts
Latest activity
Media
New media
New comments
Search media
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles and first posts only
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Forums
Cattle Boards
Beginners Board
Farmer and rancher loans
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Help Support CattleToday:
Message
<blockquote data-quote="mlang0610" data-source="post: 1071486" data-attributes="member: 21443"><p>I would get a job and save money. That's what I am doing. It's working great. I started 2 years ago and bought 5 200 pound angus steers for $2000. Grew them to 500lbs and sold them. Bought back more. And in 2.5 years I have 20 calves. 15K to buy more because I just sold some. The key thing I do is to keep my business finances and my home finances seperate. I don't sell calves to pay bills. At least not at this stage. Eventually when I am making a lot more per year. I can take out enough to pay off all my bills. And quit the job I have. It might take 5-10 years. But hey, I'm only 27. So if when I'm 35 I have my house and vehicles paid for. And am making 40-50K doing what I love. Sounds good to me. </p><p></p><p>My brother borrowed money from the bank to start his herd. Had a bad year and only a quarter of the cows got pregnant. Always had the bank loan hangin over his head. The part I don't like is that because of the interest. You have to make money just to break even. If you use money you saved up and something bad happens. You aren't out anything except some money. </p><p></p><p>Plus I think it's a lot of stress to always have that bank loan to worry about. And those 20K checks look a lot nicer when all the money is yours.</p></blockquote><p></p>
[QUOTE="mlang0610, post: 1071486, member: 21443"] I would get a job and save money. That's what I am doing. It's working great. I started 2 years ago and bought 5 200 pound angus steers for $2000. Grew them to 500lbs and sold them. Bought back more. And in 2.5 years I have 20 calves. 15K to buy more because I just sold some. The key thing I do is to keep my business finances and my home finances seperate. I don't sell calves to pay bills. At least not at this stage. Eventually when I am making a lot more per year. I can take out enough to pay off all my bills. And quit the job I have. It might take 5-10 years. But hey, I'm only 27. So if when I'm 35 I have my house and vehicles paid for. And am making 40-50K doing what I love. Sounds good to me. My brother borrowed money from the bank to start his herd. Had a bad year and only a quarter of the cows got pregnant. Always had the bank loan hangin over his head. The part I don't like is that because of the interest. You have to make money just to break even. If you use money you saved up and something bad happens. You aren't out anything except some money. Plus I think it's a lot of stress to always have that bank loan to worry about. And those 20K checks look a lot nicer when all the money is yours. [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
Cattle Boards
Beginners Board
Farmer and rancher loans
Top