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Story time. How did you buy your first farm?

I love all the stories. Very inspiring.

Similar to most of the stories. I grew up middle class, worked at Grocery Stores, Construction, Machine Shops, and pinched pennies to support myself through college. Luckily had very good parents that taught me money management. Got my engineering degree from ISU with minor student debt. $25k. Graduated in and landed an entry level job in 2010. Lived with my parents, paid off student loans, and saved. Met my future wife and rented a cheap double wide trailer with her and continued to save for a nice downpayment while keeping my eyes open for a piece in the area I was looking for. After roughly 4 years I finally found a piece that I felt was in the right area and reasonably priced but was 187 acres, way more than I could afford at the time. Networked with some locals and found 2 guys that were willing to split the acreage. I ended up with the house and 65 acres where I reside today. Currently keeping my eyes open for my next piece.
 
See if I can add anything I haven’t said before ;).
My family is extremely wealthy & I inherited billions at 15 years old. :)
My fam was poor but my grandpa ran a small biz & taught me the most about $. His gifts to me growing up were savings bonds. He was the one that got me to put my lawn mowing $ at Edward d jones to save for land. He had me do the nastiest jobs growing up… at his house doing his lawn, landscaping or any crap Job. Then- I’d go to his plumbing business & get the truly disgusting jobs!!! Like - really bad. $4.25. He made me do the nastiest horrible jobs by design. He didn’t tell me this but I figured it out later In life. He drove a car that was so old and nasty- it pissed my grandma off so bad & I know he smiled how much he knew it bothered her that he drove POS cars but could afford whatever he wanted. To this day I still drive some embarrassments, by design. Grandpa & my stepdad were hard working, no frills, all lessons & sometimes ball busters. I’d be screwed without their influence.
1) Some unique things I think helped me… I was an obsessed baseball card collector from 8 to maybe 14??? I learned how to wheel & deal. I got really good. By the time I was maybe 12 or so, I had it down …. I was a deal maker …. “I’ll give u 20 Ricky Henderson rookie cards for that ONE 1955 Mickey mantle” or sub in any combo of “somewhat common cards” that added up to say, $500 to trade for ONE card worth say, $350….. I got a pile of: Willy Mays, maybe 10+ Mickey mantles, Hank Aaron, Roger Maris,, on & on. To this day, I have a stack of cards maybe 6” thick that are worth probably 10x as much as a giant shelf stacked with literal TONS of cards from the 80’s & early 90’s. That trading taught me a lot that translated into cars later & then land.
To this day though…. Problem…. A small fortune in stupid old baseball cards I still never cashed in and wish I could trade it in for land but pain in butt to get graded & sold. The lessons learned are far more valuable than the sizable amount sitting in some room. I’ll pry Just give em to my kids.
2) hail damage cars…. No one wanted to deal with em…. I’d fill em, sand em, paint em …. Detail & fix whatever needed - grand or 2. Dealing with stuff no one else wanted to mess with… for sure translated into farms!!!!! How many farms “this isn’t selling cause it has this_____ this_____ & this_____ wrong With it” & I’d buy, fix it and make $…. Absolutely the same mindset!!!!
3) my jobs, no joke, this list is spot on…. A) being my grandpas be-itch for awful jobs- endless disgusting things mentioned above. B) Working at super market cleaning produce rooms with bleach in a spray bottle, scrubbing & spraying down- did that for a whole summer. C) Worked at no less than 10 factories- summer or even winter & spring break: building shipping pallets, assembling dash board for cars, doing inventory counts, assembling farm parts, etc. D) weeding flower fields 3 summers for $4.25/hour. By hand. I was minority & most spoke Spanish. E) waiting tables at red lobster. F) delivering pizzas. G) 8-10 years old: raked leaves for $5 a lawn. H) 10 years old on…. 3 to maybe 10 lawn jobs. I) detailed cars for big car dealership & delivered cars. J) 3 internships in college. K) worked cafeteria at college. L) cart boy at Walmart M) any other job u can imagine up that I won’t bother boring u guys with :).
I was so fired up to buy land it’s bananas. Like- too extreme. I did know I had to graduate college. It took 2 weeks after i graduated & had my first farm under contract. I over paid for it and should have taken my time more but it did work out. Ok- that’s the fine print SPECIFICS that I don’t think I mentioned most of before.
& yes, I am all for “balance” for how much someone works. Above sounds like a lot right??? & it was…. For some odd reason… I could write as long or longer a list of all the time I spent screwing around & traveling to hunt. How I had the time for all this is kinda crazy - now that im an old man now- doesn’t seem possible. The things youngsters can do it’s astounding.
Now…. Unemployed. Work on farms. Hang with family, church, eat & sleep. Im BORING!!!!

***really random things that shaped me & steered me into land…. In 7th grade, got selected to go to Amazon rainforest to study deforestation With teacher & group of fellow Nerds. I was the anti-nerd of the group but it was part of my molding into a crazed environmentalist. I went 4 hours by boat into Amazon. Traded shoes with indigenous tribes for crazy artifacts they had. Caught piranhas, fer-de-lance (super deadly snake that freaked everyone out!!!), giant catfish & some bizarre giant iguana. Lived in Australia for a year & traveled lots of the country/continent & learned so much I won’t type it here. Wild stuff. Went all over Asia to places devastated by man… Malaysia, china, etc- again- made me care deeply about environment. Guess u could say “seen a lot of stuff at young age & thought deeply on this stuff when others were clearly thinking of far different life issues. ;)
 
Got into my first and only farm via owner finance.

Grew up in Mercer, MO, where the farm is located. The landowner owned a sporting goods store close to the property that I was a regular at in high school.
It was priced $100 over what land was going for in that area at the time. Lacking $$$ for a big down payment for property via a bank made the decision easy on what to do. He had also sold some additional land and wanted to save on taxes so getting monthly installments made sense to him.

Then added an additional 20 acres of land a few years ago that connected and squared off the property via auction. It was landlocked with only 3 farms having access to get to it.

Uncle is wrapping up construction of the cabin on the property now.

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Got into my first and only farm via owner finance.

Grew up in Mercer, MO, where the farm is located. The landowner owned a sporting goods store close to the property that I was a regular at in high school.
It was priced $100 over what land was going for in that area at the time. Lacking $$$ for a big down payment for property via a bank made the decision easy on what to do. He had also sold some additional land and wanted to save on taxes so getting monthly installments made sense to him.

Then added an additional 20 acres of land a few years ago that connected and squared off the property via auction. It was landlocked with only 3 farms having access to get to it.

Uncle is wrapping up construction of the cabin on the property now.

View attachment 129865
We need more cabin pictures!
 
We bought our place in August and December of 2019, but our history with it started in 2016. A lot of it was luck and good timing.

I worked through college to keep my debt as low as possible while still saving $$ every month. I met my wife while in college, and unfortunately her parent's advice was to borrow as much as possible so she could enjoy college. She got a bachelor's degree and walked away with just over $60k in debt in 2009. Luckily she has a good work ethic and we both worked 2 jobs for 3 years to get it paid off.

While paying the student loan debt off we also got married and started a family. Our careers brought us close enough to Des Moines and Ames that real estate prices were pretty inflated. I got some info on a house that was part of an estate that the family was going to sell through an attorney. The house needed some work, but most of it I could myself. We spent 8 years in the house while I updated it and kept my eyes out for land to buy, but knew it was going to be tough in our location.

Fast forward to 2016, and my father in law calls to tell me he was looking at buying a foreclosure that had 15 acres of land with a house and a Morton building on it. The property had been vacant for about 6 years, and looked rough. You couldn't even see the house from the road because of everything that had grown up. He was wondering if I would be willing to help him get it cleaned up if he got it. I looked the property up and despite the size it looked promising as far as hunting. I agreed to helping with whatever he needed on the property if I could deer hunt it. I killed the deer in my profile picture there in November of 2018.

In 2019 I saw 10 acres next to this property was on tax sale. I managed to get contact info for the owners. I explained that I was planning on buying it on the tax sale, but I would feel better about buying it from them and I would pay the back taxes. They agreed and we closed in August 2019. About this time the county where these properties were opened a position in my career field.

We didn't really have any intention of moving, but my father in law approached us about buying his house with the 15 acres for basically what he bought it for. We still weren't sure, until a local realtor approached me inquiring about my 1st house. She had a local client that had heard we may be moving, and they loved what we had done to the house. They looked at it a few days later and made an offer that allowed us to payoff the 10 acres, and 50% of the property from my father in law.

We ended up with 25 acres, that's about 10 acres of timber, with a 1.3 acre stocked pond, a 4,000 square foot house, and a 20'x40' Morton building for $235k.
 
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