Yes, I have a few as well. My plumber and my tree guy are what you described with your experience.. The downside seems to be there are very few like that. It's not that they aren't nice, pleasant and courteous, it's they don't have ambition. My one grandson is 27 and he doesn't even have a drivers license! He does have a job, though.
We need to be reminded $$$
- Thread starter bobt
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That's hard to be able to answer dfattack. So many different ways (games) to obtain farm equipment now days. it's as real estate property. The procurement, financing options, change as fast as the prices increase. Imo is they have to in order to keep the game going sadly? This as the prices have gotten to a very difficult management point. So you have actual purchase, Co. financing, variable term leases, all kinds of rental agreements, and what have you options. All kinds of interest rate variables now too, due to the % rates went up. That's a very large expense all in it's self! It's envolved with all the different ways of obtaining, procurement. However this party may be starting to be encountering rough seas?sorry if this gets off topic, but Abe what is a typical lending term for equipment like that? What is a reasonable amount of time to get that paid off then operate with that same equipment? In other words how long will they last before having to trade in or purchase again? I have no clue and am curious. I always wanted to be a farmer since I was a kid.
The high pricing has now also effected the used machinery, equipment market. Overpriced used is piling up fast, perhaps too fast. Imo these prices have made it impossible to 'Actually' fully pay $$ for combines, and now tractors before their life has expired beyond being financially usable. Financing is where the real $$ is made. Imagine that, eh!! Sadly so it is. However if you wish to get into farming, have at it! There's plenty of people who will be more than willing to help you, one way or the other with $$. A few years ago, we purchased the farm across, and next to our farm where my son lives. That farm has been in our family since the early 1830's, almost 200 years. We paid more for the additional farm than I had ever thought of, but financially it worked. I also very well knew we, or my son would never again have the chance to obtain it. They don't make dirt any more, let alone it being very good, highly productive soil. I had wanted to buy that farm for the last 40 some years as it's ajoining property. I'm through now, sorry so long.
dfattack
Well-known member
Thanks for the explanation Abe. I always wanted to be a farmer but it's not in the cards for me now. I'm trying to plan my eventual retirement as it is. No desire to start over again at my age.That's hard to be able to answer dfattack. So many different ways (games) to obtain farm equipment now days. it's as real estate property. The procurement, financing options, change as fast as the prices increase. Imo is they have to in order to keep the game going sadly? This as the prices have gotten to a very difficult management point. So you have actual purchase, Co. financing, variable term leases, all kinds of rental agreements, and what have you options. All kinds of interest rate variables now too, due to the % rates went up. That's a very large expense all in it's self! It's envolved with all the different ways of obtaining, procurement. However this party may be starting to be encountering rough seas?
I'm pretty much retired now, just a gopher now for my son, eh. Still do a bit of field work, and trucking now for my son and a couple best friends at harvest. Kathe, and I had a wonderful life farming, and there was always challenges. She was a RN for 42 years, and I've been farming, and trucking since 16. That sure came in handy as farming is very unpredictable $$ wise. My father died when I was 19. It's a journey I wouldn't trade for anything. Live everyday as it's your last, however use good sense.
Just the opposite for us. A couple of weeks ago we had a plumber come out to clean a discharge line with tree roots. His helper was post high school age. His first day working, as his mom worked in the office and got him his first job. I felt bad for the plumber because you could tell he was sharing some of the tricks of the trade but the kid wanted nothing to do with it. Just stood there in his street clothes with little interest, checking his phone. Afterwards he was instructed by the plumber to clean up the work area and retrieve all the gear. He didn't in either case. Maybe a free college degree would be more to his liking.