Who wants to be SF3s neighbor? BTO?

[wakopa]

Holy grahamp u serious, around here they are retiring before me and go on the biggest holidays and have all the toys, one guy here has never worked and he got way more land than me. Holy shit .

[Guest]

wow , Grahamp , same shit happened here , lots of these arrogant pricks never made payments for years then had the first right of refusal when govt finally had the balls to sell it . like fj says , half this rm was FCC and land bank . those ****ers are real important pricks now . and have forgotten everything

[Grahamp]

Interesting. I am 36 and I remember my dad mentioning a few guys dealing with debt review board when I was younger but never saw or heard of someone actually building an operation this way.

[hobbyfrmr]

The same thing happened in this area. Some farmers worked through the their debt and paid the interest.,some farmers just gave in and handed the land over to lenders. The last bunch went to the review board renegotiated to rent it back from lenders for 6 (?) years. They paid as little rent , sometimes no rent. The land went for sale and the farmer had the first right of refusal. He then bought it for a 50% discount from his original purchase price. Win win. Bring on new machinery and a positive attitude like you are the best manager around.

[riders2010]

Yep caseih lots around here too. And now fcc etc still lending to the big assholes paying big dollar for everything but smaller farmfamilies they don't want to waste their time with.

[iceman]

Holy cow junk sale! Looks like the lad was a staple at the old Ritchie bros sales when the crap was selling


Iceman out

[Oliver88]

The same thing happened in this area. Some farmers worked through the their debt and paid the interest.,some farmers just gave in and handed the land over to lenders. The last bunch went to the review board renegotiated to rent it back from lenders for 6 (?) years. They paid as little rent , sometimes no rent. The land went for sale and the farmer had the first right of refusal. He then bought it for a 50% discount from his original purchase price. Win win. Bring on new machinery and a positive attitude like you are the best manager around.

This was a very unfortunate thing that happened and it rewarded those who spent money careless...another example of the government getting in the way where they shouldn't.

Farm debt review board wasn't a fair process and the big spending farmer shouldn't have had the first right of refusal.

I'm not sure what % of those who received a large write down on debt ended up going bankrupt again and how many are still farming today? It would be an interesting statistic.

[sumdumguy]

Inputs and 'necessary" equipment have become so rediculous. It's not the way we survived our 32 years. When you start with $700 and have to sell a bin off the yard to pay the lawyer, you learn to farm within your means. Guess changing times make changing ownership. Knocking themselves out to do what? Produce more for less! Borrow more money - its cheap, but life isn't, its precious short.