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Beginners Board
General Advice for Starting a Profitable Commercial Herd
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<blockquote data-quote="HOSS" data-source="post: 310232" data-attributes="member: 1863"><p>One of the best ones for making a profit is not borrowing money. Interest will eat up potential profit faster then my herd bull eats hay. Everything that I have that is associated with the farm is paid for. If I don't have the cash......it doesn't get bought. Thats land, tractors, equipment and cows. I am in no hurry to grow too big too fast. I maintain my equipment for optimum life and when I do build something it is built to last with minimal maintenance.</p><p></p><p>Our economy is built on debt. It can never last. People finance hamburgers these days as every fast food joint takes credit cards. Could you have ever dreamed of that 30 years ago? Everyone is mortgaged to the eyebrows these days with 40k trucks, 300k homes with interest only loans, boats, atv's, credit cards, signature loans and personal lines of credit. Farms are ran on borrowing money in the hopes of making enough to pay the loans and pocket a few bucks. I am not wired that way. Pay as I go.</p><p></p><p>I heard on the radio today that the average credit card user has 9k in cc debt......unbelievable! It is our want it now, microwavable society that is not willing to put the work in up front to get what they want..........well enough of my soapbox :lol:</p></blockquote><p></p>
[QUOTE="HOSS, post: 310232, member: 1863"] One of the best ones for making a profit is not borrowing money. Interest will eat up potential profit faster then my herd bull eats hay. Everything that I have that is associated with the farm is paid for. If I don't have the cash......it doesn't get bought. Thats land, tractors, equipment and cows. I am in no hurry to grow too big too fast. I maintain my equipment for optimum life and when I do build something it is built to last with minimal maintenance. Our economy is built on debt. It can never last. People finance hamburgers these days as every fast food joint takes credit cards. Could you have ever dreamed of that 30 years ago? Everyone is mortgaged to the eyebrows these days with 40k trucks, 300k homes with interest only loans, boats, atv's, credit cards, signature loans and personal lines of credit. Farms are ran on borrowing money in the hopes of making enough to pay the loans and pocket a few bucks. I am not wired that way. Pay as I go. I heard on the radio today that the average credit card user has 9k in cc debt......unbelievable! It is our want it now, microwavable society that is not willing to put the work in up front to get what they want..........well enough of my soapbox :lol: [/QUOTE]
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