HELP: Drawing equity out of land due to shitty year

[Anonymous]

Thanks for the PM's and input here. I've been chewing on this for a few days and I'm still not sure. I'm a sole proprietor, wife works, I work but its energy related and 2015/16 was a dud (skilled trade, in demand when its busy and make good money but when there's no work...)
Part of my privacy issue is that there's family concerns, dad just started a generational transfer and I won't use that land for security so any security will just be on the land base I purchased.
Its been a struggle the last while but with land value rising and off farm income supporting us it seemed like the right choice.

I've always wanted to farm and the last 30 years has been focused on this but if it all goes south I'm still worth a lot of money and I'm at peace with moving on. But I'm dreading the next family dinner when I have to explain to my parents what happened and offer to take my name off title so Ritchie Bros can deal with their land.

Sent my stuff to FCC yesterday and I'll work on a proposal for AFSC over the weekend. I appreciate you guys listening, I can't talk with my wife about this and most of my friends are non farmers or were born with a silver spoon and have no idea what building a business with no equity is about. Cottons end made me stop and think about whats important and if everything goes south the world won't end.

Thanks for everything

[kato]

I am a wife, and I would certainly not want my husband to carry that much worry by himself. We've pulled our biggest rabbits out of hats maneuvers by brainstorming together. She has as much at stake as you have, and may surprise you. I don't know enough about your situation to get too preachy, but hate to see anyone carry a burden alone.

just sayin'.

Hopefully things all work out for the best. Any of us who've played the farming game will have been in the same jam. Many more than once!