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starting out in tough times
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<blockquote data-quote="Howdyjabo" data-source="post: 630879" data-attributes="member: 391"><p>One thing that comes to mind- be patient and I think you will be able to pick up some big bargains(land,fencing,machinery and cattle) in a year or two when the current owners finally loose it all trying to stay in. If enough of them go under (and I think its coming) the demand will be null and they will go for a song.</p><p>if you have the cash you can get in with everything already set in place.</p><p></p><p>Even before all this to really make a go of it you had to have an off farm income with benefits or (and sometimes and) everything paid for. Or find a niche market that pays better than commercial.</p><p></p><p>Right now you had better have cows that can produce on just grass, minerals and water-- there are times when supplementing still pays. But if you have cows/calves that NEED supplementing you may not be able to make it thru the down turns(especially this one).</p><p></p><p>I got my revised property tax this week-- It DOUBLED. How can they possibly think this is a good idea when people are going under right and left. </p><p>And the state is checking taxes 7 years back looking for small mistakes so they can fine you and charge interest . And small enough that it costs more to fight them than pay them. A $50 mistake(or so they say) is costing me $450- accountant says it will end up costing a minimum $500 to fight it.</p><p> Then next year they will go back 7 years and do it again. I wouldn't have a problem with them doing all 7 years all at once(could afford to fight one big one)- but they are waiting so they can get more money in perpetuity . The words BLACKMAIL/EXTORTION keep coming to mind.</p><p> Unless something starts changing fast I may have a place for you to buy right here. If I was smart I'd sell the place and invest in cheap stocks and sit around and get fat.</p></blockquote><p></p>
[QUOTE="Howdyjabo, post: 630879, member: 391"] One thing that comes to mind- be patient and I think you will be able to pick up some big bargains(land,fencing,machinery and cattle) in a year or two when the current owners finally loose it all trying to stay in. If enough of them go under (and I think its coming) the demand will be null and they will go for a song. if you have the cash you can get in with everything already set in place. Even before all this to really make a go of it you had to have an off farm income with benefits or (and sometimes and) everything paid for. Or find a niche market that pays better than commercial. Right now you had better have cows that can produce on just grass, minerals and water-- there are times when supplementing still pays. But if you have cows/calves that NEED supplementing you may not be able to make it thru the down turns(especially this one). I got my revised property tax this week-- It DOUBLED. How can they possibly think this is a good idea when people are going under right and left. And the state is checking taxes 7 years back looking for small mistakes so they can fine you and charge interest . And small enough that it costs more to fight them than pay them. A $50 mistake(or so they say) is costing me $450- accountant says it will end up costing a minimum $500 to fight it. Then next year they will go back 7 years and do it again. I wouldn't have a problem with them doing all 7 years all at once(could afford to fight one big one)- but they are waiting so they can get more money in perpetuity . The words BLACKMAIL/EXTORTION keep coming to mind. Unless something starts changing fast I may have a place for you to buy right here. If I was smart I'd sell the place and invest in cheap stocks and sit around and get fat. [/QUOTE]
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