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Rivers, MB | I'd agree on the machinery comments. The interest on a $350K combine more than pays for all repairs needed to for our 70-140K combines on a yearly basis. And far less risk. Land debt is another story.
Someone on here mentioned that land debt was poor debt because of the low ROI. Depends on how you look at it. If your land base is uncertain because it is all rented, that adds lots of risk in my way of thinking. How do you long term plan, purchase machinery and market grain when you don't know what you have?
I also like the comment that someone made that as long as you have made your payments on the schedule agreed upon by you and the lender, you do not "owe" anyone. I think that is very wise.
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Debt is a tool
