littletom
Well-known member
I have read through a lot of this not all. My feelings for what it worth. I don't think alot of people could farm at much scale without a operating loan. I grow tobacco it cost 4500 a acre start to finish. I have a pretty good size loan, at this point i don't use alot of lot it. But it is there its backed by a payed for farm that is worth more than my house. When I started i borrowed pretty much everything and payed it back the next spring. I get payed a very few times a year i don't do monthly payments. I have a pretty good sized debt load it almost completly on dirt. If i never went into debt i wouldn't have much. I have seen some absolute train wrecks with people in over there head couldn't manage had no business self employed lost it all. I have seen people start with nothing made good choices now worth several million .
Not long ago I had a 35 year old guy telling me all about how he was debt free, would never borrow a penny ever. He has a old house his grandma gave him and a oldpickup. He is tickled to death sleeps good no worries. Thats great, but some people want something different to be happy. And I have seen bankers get plenty folks in trouble.
Not long ago I had a 35 year old guy telling me all about how he was debt free, would never borrow a penny ever. He has a old house his grandma gave him and a oldpickup. He is tickled to death sleeps good no worries. Thats great, but some people want something different to be happy. And I have seen bankers get plenty folks in trouble.