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  1. #11
    Senior Member CanadianCowMan is on a distinguished road
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    Around here too, the farms that are inherited and the kid didnt have to pay for it are the poorest managed.

  2. #12
    Senior Member dennis1 is on a distinguished road
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    Quote Originally Posted by CanadianCowMan View Post
    Around here too, the farms that are inherited and the kid didnt have to pay for it are the poorest managed.
    aroound here, those inherited do nothing but cash rent to the highest bidder...you know what that does to most farms.

  3. #13
    Senior Member jabber1 is on a distinguished road
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    I am number 5 of 8 children here. Some would suggest that not having a lot of farmland owned by immediate family is tough for grain farmers. Some would suggest that renting from modest sized absentee landowners is a tough way to support a grain farm. Both of the above have worked for me. Due to modest holdings of my ancestors, I have a better chance of actually being able to buy out siblings that decide to sell their inheritance. Due to the fact that I farm a number of modest sized farms for a number of absentee landowners, when some of these farms have come up for sale, I was more likely to be able to purchase or find a buyer.

    Farming very large tracts for immediate family or absentee owners would be easier at times but these large tracts also create a lot of risk for the future viability of what I do, if someone decides to sell.

    My advantages in life appear to be being born into a crop farming family with a good reputation, having parents that though they had very conservative ideas on how I should conduct my portion of the business were also there to work with, and not relying on lots of family capital to fund the farming habit. Not a self made man here. I really don't know one that didn't have someone of value in their life that was a very big help in some way. Buuuuutttttttttt- things were just tough enough to make me tougher, a bit smarter, and more resilient.
    Last edited by jabber1; 02-20-2013 at 08:38 AM.

  4. #14
    Member 4055 is on a distinguished road
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    Saddest thing I see is those outstanding operations that grandpa and dad worked hard to establish and the kids don't give a darn and walk or party it away. Any good outfit will be determined more on hard work than luck. Success is what opportunity did we get what did we do with it. If ones farming operation came down through family so much the better

  5. #15
    Senior Member Pick-Six is on a distinguished road
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    Quote Originally Posted by 4055 View Post
    I purchased my first farm from starting off farming from scratch. I'm number five of seven kids. My dad had a dairy farm he wanted to sell he was tired of feed prices being to high. I asked him to buy it. He asked a certain high figure for it, also I made him ask all of my siblings if they cared it gets sold. Not knowing I'm the buyer my siblings say "If anyone is willing to pay that sell the farm". Anyways it appraises for 150k less than he wants. We settled for 60k more than it appraises. If you can't buy a farming operation and make it u might not be able to operate one handed to you. I custom farm for nearly 300 dairy farmers mostly family farms. Someof the most successful are the ones paying the mortgages. Some of the poorest managers had the farm handed to them.

    You custom farm for 300 dairy farms? That's astonishing.

  6. #16
    Junior Member OilPull is on a distinguished road
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    That 300 number is astonishing to say the least.

    Agree that you have to have skin in the game. I took shares in our S corp as part of my compensation for 23 years, the other family at 50% ownership took cash from their parents. One got booted out for drinking at work, the other one I will likely be buying out due to his impending divorce. I've cussed the S corp in the past, but now is when it works.

  7. #17
    Senior Member Tall Grass is on a distinguished road
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    Am i correct that these farm sales were owner financed?
    DON'T CROSS THE RIVER IF YOU CAN'T SWIM THE TIDE

    “Travel is fatal to prejudice, bigotry, and narrow-mindedness.” Mark Twain

  8. #18
    Senior Member dennis1 is on a distinguished road
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    Quote Originally Posted by jabber1 View Post
    I am number 5 of 8 here. Some would suggest that not having a lot of farmland owned by immediate family is tough for grain farmers. Some would suggest that renting from modest sized absentee landowners is a tough way to support a grain farm. Both of the above have worked for me. Due to modest holdings of my ancestors, I have a better chance of actually being able to buy out siblings that decide to sell their inheritance. Due to the fact that I farm a number of modest sized farms for a number of absentee landowners, when some of these farms have come up for sale, I was more likely to be able to purchase or find a buyer.

    Farming very large tracts for immediate family or absentee owners would be easier at times but these large tracts also create a lot of risk for the future viability of what I do, if someone decides to sell.

    My advantages in life appear to be being born into a crop farming family with a good reputation, having parents that though they had very conservative ideas on how I should conduct my portion of the business were also there to work with, and not relying on lots of family capital to fund the farming habit. Not a self made man here. I really don't know one that didn't have someone of value in their life that was a very big help in some way. Buuuuutttttttttt- things were just tough enough to make me tougher and more resilient.
    Not saying anything against anyone's extended education, but this seems to fit here with jabber1, and I know he has
    a certain amount of education many of us do not(thank you)..

    "Without wishing to damp the ardor of curiosity or influence the freedom of inquiry, I will hazard a prediction that, after the most industrious and impartial researchers, the longest liver of you all will find no principles, institutions or systems of education more fit in general to be transmitted to your posterity than those you have received from your ancestors." --John Adams, letter to the young men of Philadelphia, 1798

  9. #19
    Senior Member 82 is on a distinguished road 82's Avatar
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    I've inherited land from a great aunt. Bought land from neighbors. Swapped a pristine wooded 10 acre building site with a 5 year old house my wife and I built for a 10 acre hazardous waste site with bins on it and 105 year old house with my father and mother. And rent from my mother, cousin, and neighbors...Boy am I screw up!

  10. #20
    Senior Member dennis1 is on a distinguished road
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    Quote Originally Posted by 82 View Post
    I've inherited land from a great aunt. Bought land from neighbors. Swapped a pristine wooded 10 acre building site with a 5 year old house my wife and I built for a 10 acre hazardous waste site with bins on it and 105 year old house with my father and mother. And rent from my mother, cousin, and neighbors...Boy am I screw up!
    Boy or boy, there is no other word for...

    You are headed the direction you want'a be going!

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