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Saronville NE | Depending on how much money it is, I think I would part of the money into idea #1, then rathole the rest. That way you have money if things get nasty to help you pull thru it, or if you are doing ok and this landmarket heads south, you would have some money around to make another downpayment to buy another farm. We rathole some away every yr just for that reason, and am hoping to buy some more in the next 2-3 yrs or so. When the market goes south, and you buy land more than likely the payments wil be cheaper than what the cash rent is getting to be anymore. I just bought our first farm thru FSA beginning farmer loan going on 2 yrs now, with 3.85% intrest Im not going to pay ahead anymore than I have to, will never get intrest any cheaper than that, so ride it out and put the money you saved into more land. | |
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Young Farmer Question
