Kids In The Business

[SASKFARMER]

Wow chuck that was inspirational. Takes you back to your All for one CWB.

Favours large farms is bullshit.

If you have a good financial sheet you can borrow take risks. Real simple.

It’s how much debt you want.

As I get older the answer is none or very little.

I couldn’t give a rats ass what the BTO is doing and how much shit he has or try to be like him.

It’s all about timing and opportunity and how each farm grasps it.

Three people I know sold out the last year and you want to see a smile it’s a mile wide and not one regrets the decisions.

What I have a problem with is good land that’s productive still doesnt sell as high as non productive shit in other provinces.

Black soil zone usually means rain and big yields over the long run and should be Saskatchewan’s highest priced dirt.

I have two boys and both will leave the farm on graduation day. Go take a trade or university but need to explore the world first. Sow your wild oats for a simple example. Make mistakes that’s how you learn. Get shit from a boss or asshole at work, see what a dog f$$ker is and what a hard worker is. Basically get some life experiences then if they want to farm it’s available for them.


I maybe am in a different mind set than most when it comes to farming. I don’t believe every generation should sell out to the kids and let the parents move to town and here it’s your problem now.

Yes there has always been a plan and that plan sometimes changes for unknown reasons. Hell a guy I know had the perfect setup and perfect plan and one day it ended do to a illness his son had. It’s called life.


But have a plan from the start, discuss it with wife and partners and family. Change it or revisit it often as things change.


Try not to burden them with debt you should worry about your retirement not think they are your retirement.

Farming to big is useless your just shuffling money and papers.

[the big wheel]

Wow chuck that was inspirational. Takes you back to your All for one CWB.

Favours large farms is bullshit.

If you have a good financial sheet you can borrow take risks. Real simple.

It’s how much debt you want.

As I get older the answer is none or very little.

I couldn’t give a rats ass what the BTO is doing and how much shit he has or try to be like him.

It’s all about timing and opportunity and how each farm grasps it.

Three people I know sold out the last year and you want to see a smile it’s a mile wide and not one regrets the decisions.

What I have a problem with is good land that’s productive still doesnt sell as high as non productive shit in other provinces.

Black soil zone usually means rain and big yields over the long run and should be Saskatchewan’s highest priced dirt.

I have two boys and both will leave the farm on graduation day. Go take a trade or university but need to explore the world first. Sow your wild oats for a simple example. Make mistakes that’s how you learn. Get shit from a boss or asshole at work, see what a dog f$$ker is and what a hard worker is. Basically get some life experiences then if they want to farm it’s available for them.


I maybe am in a different mind set than most when it comes to farming. I don’t believe every generation should sell out to the kids and let the parents move to town and here it’s your problem now.

Yes there has always been a plan and that plan sometimes changes for unknown reasons. Hell a guy I know had the perfect setup and perfect plan and one day it ended do to a illness his son had. It’s called life.


But have a plan from the start, discuss it with wife and partners and family. Change it or revisit it often as things change.


Try not to burden them with debt you should worry about your retirement not think they are your retirement.

Farming to big is useless your just shuffling money and papers.

Chuck is right about fcc in this one. At least in our area anyone smaller one year and your on to special credit even when they have more than enough equity but the broadass guys had a third of the equity needed and they were writing books about how it should be done.

[SASKFARMER]

Banks didn’t lose on broad Ass

[sawfly1]

Cut back a little this year. Getting too old for some of it..
Sure seems to be a lot people my age going for the big
Sleep.

Have a grandson, 15 says he is interested.
But that is far away . A lot to learn in a short time.
Life is too good for him right now . Girls lake etc..
He could do anything. Too early to lock him in.

Time is the enemy.
Maybe I need an interim operator.
Where I would be a seasonal helper.
Or have a sale and rent it out.
The real estate agents are coming around gathering for the
Hutterites.
Would hate to see it go that way.
But maybe the smallish farm is a thing of the past.
Decision time is here .
Just not sure what it will be.

[jazz]

I have debt but I have lots of equity too, and FCC said no more land. Scotia said maybe, but not likely. So cant even expand if I wanted to. I looked into possible investing in a rental apt, bank said you are going to have to invest a million plus to get a few thousand a month in free cashflow. Probably more farmland is just as good a return as that most yrs.

I asked about other business ventures. Anything that's not farmland or a rental property would have a much higher threshold for financing because once a business income is determined by how many people walk through your door everyday to buy something, the bank gets real nervous.

[the big wheel]

Banks didn’t lose on broad Ass

Nit so by the numbers I saw. But anyway the point is many family farms trying to survive or have kids go on won’t get funding but why did these trump like business people even get the chance at such a venture?
And why is it that someone that was practically teaching fcc how a farm should be run and then it goes bankrupt and his group collects millions in salary to handle the bankruptcy? Number one if he’s an expert he must have known it would never work so wasn’t it just a scam for the millions? How come never investigated? How come no one else was asked to ha for the bankruptcy I sure as hell could have sat there and said gee we can’t pay this where’s my cheque. If s smaller farmer would have tried that would be in jail.

[bucket]

Banks didn’t lose on broad Ass

True but when they figured out they couldn't farm the run up in land prices worked in their favour...

Now if land prices start dropping it won't make sense for a lot of farms .....that have been paying big money for land ...

[farmaholic]

Some people probably saw the wave coming and in some cases, for tax purposes, farmed the land to realize more profit from its sale.

Some of this shit might be orchestrated. "Business" failure versus "personal" gain. Some people are very good at seperating themselves from their business venture.

[grassfarmer]

Cut back a little this year. Getting too old for some of it..
Sure seems to be a lot people my age going for the big
Sleep.

Have a grandson, 15 says he is interested.
But that is far away . A lot to learn in a short time.
Life is too good for him right now . Girls lake etc..
He could do anything. Too early to lock him in.

Time is the enemy.
Maybe I need an interim operator.
Where I would be a seasonal helper.
Or have a sale and rent it out.
The real estate agents are coming around gathering for the
Hutterites.
Would hate to see it go that way.
But maybe the smallish farm is a thing of the past.
Decision time is here .
Just not sure what it will be.

Have you thought of a non-family interim operator? Some of the young people trying desperately to get into agriculture? It could act as a kind of incubator for them - maybe sharing your machinery and land base while they develop their own business but assisting you to get your work done in the process. There are lots of these folks wanting to get a foot in the door, direct market stuff etc so it would be producing extra off the same land base versus sharing the existing production between 2 families instead of 1. After a period they would hopefully outgrow the situation and move onto their own land base (or offer to take over yours if you finish up with no family member succeeding you). It's a way to buy some time.