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Coffee Shop
Selling our farm
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<blockquote data-quote="GMN" data-source="post: 457759" data-attributes="member: 2382"><p>I agree you have to establish yourself with a good bank, and have access to a good line of credit with them. I don't know any people who do not have a Good Bank on their side, especially in the farming business, I would stay away from the Farm Credit Services though, once you get sucked in with them, impossible to get out. They are numbers people if your numbers don't match what they think they should be, they do not want anything to do with you, and if your numbers do match, watch out, they will loan you money, and more money, until all you are paying is interest, and there is no light at the end of the tunnel. I had a friend who farmed in WI, was in with the Farm credit up there, it was insane how much money they were in debt-over half a million dollars, and for what to work 16 hours a day, milking cows--and at the end of the year not to be able to pay thier taxes, have to borrow money to pay them too. A sad depressing cycle for sure.</p><p></p><p>Anyways good luck with your move, and I hope you find a nicely priced place, with all that you want.</p><p></p><p>GMN</p></blockquote><p></p>
[QUOTE="GMN, post: 457759, member: 2382"] I agree you have to establish yourself with a good bank, and have access to a good line of credit with them. I don't know any people who do not have a Good Bank on their side, especially in the farming business, I would stay away from the Farm Credit Services though, once you get sucked in with them, impossible to get out. They are numbers people if your numbers don't match what they think they should be, they do not want anything to do with you, and if your numbers do match, watch out, they will loan you money, and more money, until all you are paying is interest, and there is no light at the end of the tunnel. I had a friend who farmed in WI, was in with the Farm credit up there, it was insane how much money they were in debt-over half a million dollars, and for what to work 16 hours a day, milking cows--and at the end of the year not to be able to pay thier taxes, have to borrow money to pay them too. A sad depressing cycle for sure. Anyways good luck with your move, and I hope you find a nicely priced place, with all that you want. GMN [/QUOTE]
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