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Rookie needs advice with big decision
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<blockquote data-quote="Dave" data-source="post: 1394667" data-attributes="member: 498"><p>To start with I wish I won't have listened to the naysayers when I was your age. Land is almost always a good investment. They aren't making any more of it. Two questions you need to ask yourself. How close is the land to where you live. If it is real close it is probably a no brainer. Farther away the more questionable it becomes. Define profitable. Five or six cows aren't going to make the land payment for you. In my opinion there are a lot of lessons taught to kids raised around livestock and farms that are invaluable. Can you make the land payment on your own now? How much will that tax the family budget? How much interest are you going to have to pay? Then the question becomes should you log now or is the timber growing at a rate that adds value more than the interest? If I were to log the timber off all that money would go against the land payment.</p></blockquote><p></p>
[QUOTE="Dave, post: 1394667, member: 498"] To start with I wish I won't have listened to the naysayers when I was your age. Land is almost always a good investment. They aren't making any more of it. Two questions you need to ask yourself. How close is the land to where you live. If it is real close it is probably a no brainer. Farther away the more questionable it becomes. Define profitable. Five or six cows aren't going to make the land payment for you. In my opinion there are a lot of lessons taught to kids raised around livestock and farms that are invaluable. Can you make the land payment on your own now? How much will that tax the family budget? How much interest are you going to have to pay? Then the question becomes should you log now or is the timber growing at a rate that adds value more than the interest? If I were to log the timber off all that money would go against the land payment. [/QUOTE]
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