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<blockquote data-quote="Bez+" data-source="post: 564693" data-attributes="member: 6797"><p>First - thanks for the vote of confidence from Workinonit Farm </p><p></p><p>Now then let's look at things from a bit different point of view. I am going to say some things you will like, some things you will not like and some things you have to take into consideration.</p><p></p><p>Want to ranch? So do millions of others. But ....</p><p></p><p>Young, recently married, new business and so on.</p><p></p><p>You got a lot of strikes against you no matter how you slice the cake.</p><p></p><p>If the business fails - where does the money come from?</p><p></p><p>One of you starts running around - or doing things that cause a divorce in the next ten years - now what. (Stats are with me on this)</p><p></p><p>You have no track record financially - despite the other house, you both are so young that banks just chuckle.</p><p></p><p>What happens when kids come along? And I hope they do - lots of happy and healthy ones - that cause you all sorts of parental grief! Pay back for what you did to your folks!!! <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite8" alt=":D" title="Big grin :D" loading="lazy" data-shortname=":D" /> <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite8" alt=":D" title="Big grin :D" loading="lazy" data-shortname=":D" /> </p><p></p><p>Medical emergencies and health issues, etc - all kill the future unless carefully planned out well in advance - all it takes is one drunk driver with no insurance or job and you are screwed. </p><p></p><p><u>More than one business has failed through absolutely no fault of the owner</u></p><p></p><p>Suggestions from me.</p><p></p><p>1. Find out how much that loan you want would cost you on a monthly basis - and start paying it to yourself - now!!!! - and that is on top of your saving for the down payment. Going to be tough - but you will get hit with some whopper bills that you are not expecting when you are in the ranch / farm game - so you might as well get used to that early.</p><p></p><p>Run that business hard - drive it till it breaks out in a sweat and makes you tons of money. Whip it for at least 10 years - then take all that savings and the money you paid to yourself and go buy what you can cash.</p><p></p><p>Drive the cheapest rat trap car and truck you can - fancy is expensive and it takes away from your dream. Cannot do it? Then you are not ready to make the effort.</p><p></p><p>Get out of debt. Save.</p><p></p><p>Prices of land may be high today but watch closely - there will be some good deals to be had in the future.</p><p></p><p>Stay out of debt!! It has killed more operations than it has helped - of that I can assure you.</p><p></p><p>You want to ranch?</p><p></p><p>If you do what I suggested for 10 years - and follow the plan closely, the money you have created will make your payments for you.</p><p></p><p>And you will only be 33 years old. Lord if only I could go back to that age knowing what I know now.</p><p></p><p>If you successfully manage what I suggested, you will not only make a living - you will make a fine living - provided the good Lord smiles at you and the luck around the next corner continues to come your way.</p><p></p><p>So I try to pass it on - you will do as you see fit - and I would suppose that is only proper.</p><p></p><p>Regards</p><p></p><p>Bez+</p></blockquote><p></p>
[QUOTE="Bez+, post: 564693, member: 6797"] First - thanks for the vote of confidence from Workinonit Farm Now then let's look at things from a bit different point of view. I am going to say some things you will like, some things you will not like and some things you have to take into consideration. Want to ranch? So do millions of others. But .... Young, recently married, new business and so on. You got a lot of strikes against you no matter how you slice the cake. If the business fails - where does the money come from? One of you starts running around - or doing things that cause a divorce in the next ten years - now what. (Stats are with me on this) You have no track record financially - despite the other house, you both are so young that banks just chuckle. What happens when kids come along? And I hope they do - lots of happy and healthy ones - that cause you all sorts of parental grief! Pay back for what you did to your folks!!! :D :D Medical emergencies and health issues, etc - all kill the future unless carefully planned out well in advance - all it takes is one drunk driver with no insurance or job and you are screwed. [u]More than one business has failed through absolutely no fault of the owner[/u] Suggestions from me. 1. Find out how much that loan you want would cost you on a monthly basis - and start paying it to yourself - now!!!! - and that is on top of your saving for the down payment. Going to be tough - but you will get hit with some whopper bills that you are not expecting when you are in the ranch / farm game - so you might as well get used to that early. Run that business hard - drive it till it breaks out in a sweat and makes you tons of money. Whip it for at least 10 years - then take all that savings and the money you paid to yourself and go buy what you can cash. Drive the cheapest rat trap car and truck you can - fancy is expensive and it takes away from your dream. Cannot do it? Then you are not ready to make the effort. Get out of debt. Save. Prices of land may be high today but watch closely - there will be some good deals to be had in the future. Stay out of debt!! It has killed more operations than it has helped - of that I can assure you. You want to ranch? If you do what I suggested for 10 years - and follow the plan closely, the money you have created will make your payments for you. And you will only be 33 years old. Lord if only I could go back to that age knowing what I know now. If you successfully manage what I suggested, you will not only make a living - you will make a fine living - provided the good Lord smiles at you and the luck around the next corner continues to come your way. So I try to pass it on - you will do as you see fit - and I would suppose that is only proper. Regards Bez+ [/QUOTE]
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