BJohnson
Well-Known Member
- Deleted by BJohnson
A couple thoughts:
Ishi is totally correct. My hunting in the past 20+ years has been a mix of public (first 10-12 years), permission farms (last 8-10) and my own farm (2nd yr of ownership). To date, my best buck was taken in 07 off public ground. No doubt I was lucky but I hunted my ass off on public for many years and when success came, it was VERY rewarding. There are some slammers on certain tracts of public ground in various areas of this state but the frequency of success is no doubt lower.
My specific farm experience:
Years looking at farms - 3/4 yrs - now own under 100 acres - bought at age 53
Down pymt - 40% - financed 60%, fixed rate - 20 yrs - FCS of America (plan to pay-off early)
At the time we bought the farm, our home was paid off and 2 of 4 kids were through college - other 2 in high school. In the end, for me I had a choice of investing some inheritance into more paper assets or buying land, which had been a big part of my parent's long-term financial success. (BTW - high school educated parents, WWII generation, started their eventual family of 8 kids in post-war military housing in our hometown). I choose to diversify into land. I would have preferred a farm with some income stream but knew when I left "my farm" after the first walkthrough that it felt "right" based on size, location, etc. Like others have stated, I let a few slip through my hands early on in the "shopping" phase but you will know when the right tract comes along after walking a few farms.
My wife and I could have purchased the farm with or without the inheritance but it did make the decision a bit less risky related to funding college costs for the last two kids. In our case, the farm represents a manageable level of debt/risk and an investment diversification strategy that we also get to enjoy for the next 10+ years. I will know in 10 years whether the strategy was good or bad.
So yes, count me as one who "had help" so to speak. My long-term goal is to do the same for my kids someday and the farm is just part of the overall plan.
Ishi is totally correct. My hunting in the past 20+ years has been a mix of public (first 10-12 years), permission farms (last 8-10) and my own farm (2nd yr of ownership). To date, my best buck was taken in 07 off public ground. No doubt I was lucky but I hunted my ass off on public for many years and when success came, it was VERY rewarding. There are some slammers on certain tracts of public ground in various areas of this state but the frequency of success is no doubt lower.
My specific farm experience:
Years looking at farms - 3/4 yrs - now own under 100 acres - bought at age 53
Down pymt - 40% - financed 60%, fixed rate - 20 yrs - FCS of America (plan to pay-off early)
At the time we bought the farm, our home was paid off and 2 of 4 kids were through college - other 2 in high school. In the end, for me I had a choice of investing some inheritance into more paper assets or buying land, which had been a big part of my parent's long-term financial success. (BTW - high school educated parents, WWII generation, started their eventual family of 8 kids in post-war military housing in our hometown). I choose to diversify into land. I would have preferred a farm with some income stream but knew when I left "my farm" after the first walkthrough that it felt "right" based on size, location, etc. Like others have stated, I let a few slip through my hands early on in the "shopping" phase but you will know when the right tract comes along after walking a few farms.
My wife and I could have purchased the farm with or without the inheritance but it did make the decision a bit less risky related to funding college costs for the last two kids. In our case, the farm represents a manageable level of debt/risk and an investment diversification strategy that we also get to enjoy for the next 10+ years. I will know in 10 years whether the strategy was good or bad.
So yes, count me as one who "had help" so to speak. My long-term goal is to do the same for my kids someday and the farm is just part of the overall plan.
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