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Financing your herd.
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<blockquote data-quote="Craig-TX" data-source="post: 138110" data-attributes="member: 39"><p>Lot of good advice in this thread. There was so much good in stocky's posts that it would be too cumbersome to quote him. While there's money to be made off cattle bought on borrowed money, that only applies to the professional cow man. If you're doing it on the side or as a hobby, either pay cash or do without, for numerous reasons. </p><p></p><p>Like he said, they will only loan you 50-65% of what you will spend. But make no mistake about it, they will take a lien on 100%. A line of credit is only for the pro who is getting in and out, usually for trading stockers. A lot of banks will want interest paid monthly or quarterly, like he said. It might be a little harsh to say they are out to bleed you. It's probably more to do with them not being comfortable with ag loans or with a novice rancher. </p><p></p><p>The rest of stocky's comments about what type of animals and equipment to buy are also 100% on the money.</p></blockquote><p></p>
[QUOTE="Craig-TX, post: 138110, member: 39"] Lot of good advice in this thread. There was so much good in stocky’s posts that it would be too cumbersome to quote him. While there's money to be made off cattle bought on borrowed money, that only applies to the professional cow man. If you’re doing it on the side or as a hobby, either pay cash or do without, for numerous reasons. Like he said, they will only loan you 50-65% of what you will spend. But make no mistake about it, they will take a lien on 100%. A line of credit is only for the pro who is getting in and out, usually for trading stockers. A lot of banks will want interest paid monthly or quarterly, like he said. It might be a little harsh to say they are out to bleed you. It’s probably more to do with them not being comfortable with ag loans or with a novice rancher. The rest of stocky’s comments about what type of animals and equipment to buy are also 100% on the money. [/QUOTE]
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