CattleArmy said:
However who's really gonna take less money to let someone in???
my grandpa lost everything in the early 80's. I was in JR high. so I began working for a neighbor. well eventually I worked into where I was part of the operation and we became more partnerish than employer / employee
he holds most of the land and is farm driven, I had different views and was cattle driven. so we work well together. now, my wife and I wanted to get going on our own, but land is high as a kite.
the home we were living in burned to the ground and we rented for two years deciding what to do next. that is where a man of 83 years stepped in. he asked what we were gonna do. I told him we were weighing our options. he said just buy my place.
many guys around here wanted to buy it and doze it in and put up a pivot. I could not compete with thier money and told him so.
he told me what he wanted, and said go home and figure out how you can afford it.
we sat down, came up with a plan. 40 year contract, payment is same amout as I can rent it out for, just incase I need to do it that way. he said fine, but I forgot the interest rate. I figured 8 % or so.....he pops off with 4% !!!!
all said and done, I got this place bought at about 75% of what others had offered him...... so yes, there are guys who will take less money to get a kid going on his own!!!
and I have been poor and broke ever since, but as happy as can be to OWN MY OWN LAND!
in time, if my boys leave the farm, I intend to help out a young couple the same way I was helped.