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| Glad to here things are moving the right direction for you. A big part of my point is that this doesn't happen over night and I've seen far too many people prostrate themselves at the alter of land growth by cheating out friends and neighbors (and it really was cheating - and the guy is a preacher go figure) or pay 'what ever it takes' to farm land all in a effort to be what they think is successful quickly.
Of course patience is definitely a 'buzz kill' these days, but with so many of farmers still farming well past 'city' retirement age there is going to come a point where many finally retire just about all at once. There will be opportunity and possibly really good opportunity (retiring farmer helping small family farm expand to get a little more comfortable in the lean years or bringing on younger folks that have the aptitude, but not the opportunity to farm, etc). The investment community is a very fickle bunch and the minute wallstreet offers better options, land will be dumped - prices will fall and it will get back into the 'expensive, but I can pay for it' range again. Fantastically expensive equipment will be available used at pretty deep discounts eventually (who is going to pay $120K for a 5000 hr combine?) and even mother JD has found that not everyone thinks $300K sprayers are worth it and so they are making lower cost sprayers.
No doubt you have to be looking to find opportunity, but patience seems to be a key in about every successful business. It's probably the closest we every come to being able to predict the future (at least your own).
Thanks,
Pat | |
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Running a business
