Advice on change of ownership

[Whitewing]

I know just where you stand. About 60 years ago I was standing before the same solid wall that you are today. If you do not have anything to put down on a lace it is hard if not impossible to find a lender who would take a second mortgage on something bought on contract. I never owned a piece of land until I was 43 years old.

My Dad owned a small place that was paid for. He was about 55 years old and still needed it to make a living and raise the rest of his family. He had no cash reserve to help out. He often accused me of trying to reach to far from where I was. As it turned out I stayed here on the family farm helping out as Dad became older. Mostly I was just puttering along, but opportunities, just small cracks really, did appear. I always put my un-need profits back into my business.

You are talking about a place that will run about 500 cows. Just from here, it looks like a couple million dollars just for the land. Quite a bite from my point of view.

Indeed, but if the owner really is interested in seeing it go to someone like KRob, he may never get another opportunity like it in his lifetime. If he's serious, my recommendation would be to do whatever it takes to make it happen. It's often too easy just to say, "I can't do it" and walk away. Do it KRob, figure out a way to make it happen!!

When I started working for the company I eventually owned and later sold, there were two owners. I demonstrated to them via my work ethic that I was serious about the business, became a partner after a few years (due to my own insistence that I become a partner) and eventually bought them both out using the profits of the very same company. My total out-of-pocket expense in the beginning was $100,000 (mostly borrowed from my parents).......a small sum compared to the overall value of the company when I finally sold it.

It's said that luck is when preparation and opportunity cross paths. KRob sounds like a relatively young fellow. With that in mind, I hope he accepts the challenge and does what it takes to make this one happen.....again, if it's what he really wants.

 

[KRob]

Yeah i am a pretty young fellow...with a promising career as an army officer...however im already tired of the bureaucracy and ready to do something i really enjoy again.

I am willing to do just about anything to make this work, as long as i can turn enough to support my family.

 

[Whitewing]

Yeah i am a pretty young fellow...with a promising career as an army officer...however im already tired of the bureaucracy and ready to do something i really enjoy again.

I am willing to do just about anything to make this work, as long as i can turn enough to support my family.

Those of us who are much older these days can attest to how quickly life flies by. As a young man you have much more time to recover from mistakes of your own doing or from lousy market conditions. Don't fear the future, embrace it.

If your bride is on board then she'll stick with you through thick and thin. For what it's worth, I'd imagine that those here who have been in ranching all their lives probably wouldn't trade the lifestyle for any other. Ranching truly is a way of life. I'm as happy today as I've ever been in my life doing what I'm doing.