Am I Mad

[Sheepy2]

Taking over part of the family farm, currently going through fathers and his brother partnership dissolution. I’m not getting the whole half share, that is going to my other brother however I am expected to shoulder all the debt and pay for fathers house.

To be quite honest they had made a right rubbish of farming it. 700k or so on 160 acres to buy it out. Farm is run right down with no buildings or handling facilities.

I was already farming in my own right with sheep and cattle. But getting about 500 ewes with the farm.

Do I need to wise up and let it go?

 

[Al R]

What is the land like? £4375/acre for land that you know the history of isn’t bad if it’s good land? What’s the fencing like? Can you take the extra workload on with your current self/employees?

If all of those questions are reasonable positives then your not mad?

 

[kiwi pom]

Taking over part of the family farm, currently going through fathers and his brother partnership dissolution. I’m not getting the whole half share, that is going to my other brother however I am expected to shoulder all the debt and pay for fathers house.

To be quite honest they had made a right rubbish of farming it. 700k or so on 160 acres to buy it out. Farm is run right down with no buildings or handling facilities.

I was already farming in my own right with sheep and cattle. But getting about 500 ewes with the farm.

Do I need to wise up and let it go?

Half share of 160 acres?
How big is your current operation?

 

[Global ovine]

Seek professional advice to assist you through the questions that arise from potential productivity and COP ending with return on your capital investment.
Are the other family shareholders paying you a management wage, or are you their slave?

Good advice may well prove to be the cheapest investment you ever make. Don't let emotions rule the logic of business.

 

[averageguy54]

I wouldn't be too keen on jumping in on that deal without some sound professional advice and some very clear cut and precise answers as to exactly who is going to be responsible for what. I wouldn't settle for "We can sort that later", on anything.

 

[icanshootwell]

My advice is, buy them out as borrowing is cheap at the moment, you can always re-access in a few years time. Seems an ok deal to me.

 

[Werzle]

Taking over part of the family farm, currently going through fathers and his brother partnership dissolution. I’m not getting the whole half share, that is going to my other brother however I am expected to shoulder all the debt and pay for fathers house.

To be quite honest they had made a right rubbish of farming it. 700k or so on 160 acres to buy it out. Farm is run right down with no buildings or handling facilities.

I was already farming in my own right with sheep and cattle. But getting about 500 ewes with the farm.

Do I need to wise up and let it go?

Sit down and work the figures out as best you can to see if you can make it pay without killing yourself. Why have you copped all the debt and had to pay for your fathers house?

 

[7610 super q]

Buy somewhere else with the £700k.
Half shares of half a farm sound like future ballache.

 

[7610 super q]

Where's @Walterp, he'd know what to do....

 

[Flat 10]

Taking over part of the family farm, currently going through fathers and his brother partnership dissolution. I’m not getting the whole half share, that is going to my other brother however I am expected to shoulder all the debt and pay for fathers house.

To be quite honest they had made a right rubbish of farming it. 700k or so on 160 acres to buy it out. Farm is run right down with no buildings or handling facilities.

I was already farming in my own right with sheep and cattle. But getting about 500 ewes with the farm.

Do I need to wise up and let it go?

Are there any issues between you and brother? I don’t understand why it wouldn’t be half and half. Get everything in writing.....

 

[David.]

Frankly, if I understand you correctly, I think I'd start somewhere else with my £700k with no baggage.
Can you absolutely guarantee no unpleasant future surprises from father or brother?

 

[Tubbylew]

Taking over part of the family farm, currently going through fathers and his brother partnership dissolution. I’m not getting the whole half share, that is going to my other brother however I am expected to shoulder all the debt and pay for fathers house.

To be quite honest they had made a right rubbish of farming it. 700k or so on 160 acres to buy it out. Farm is run right down with no buildings or handling facilities.

I was already farming in my own right with sheep and cattle. But getting about 500 ewes with the farm.

Do I need to wise up and let it go?

Could you clarify what you'll end up with for 700k?

 

[Formatted]

700k for half a farm? That is a decent deposit on a much larger farm and no bagage...

 

[deleted user 837354]

If you can forgo any emotional ties to the place, a clean break on a new unit, unconnected in any way to any siblings or relatives, may be a better place for one's sanity in the future...

 

[SilliamWhale]

Who gets the other half? Your Dad?

Does it come to you after Dad?

?You need to know where you stand. Its a lot of money. £3500 a month for 25 years on the AMC Loan calculator. Thats a lot to spend on a bit of grass when you've got kids etc.

 

[betweenthelines]

Are you getting 160 acres or 80? Is the £700k to buy 80 or 160 acres? Is this money to pay for fathers house? What about the debt you mention? Is the ewe flock FOC? Any employees involved?

 

[Yale]

Walk away,plough your own furrow and break free.

Do the math but don’t take on a ball and chain.

 

[Hillside]

Run and don’t stop.

 

[D14]

Taking over part of the family farm, currently going through fathers and his brother partnership dissolution. I’m not getting the whole half share, that is going to my other brother however I am expected to shoulder all the debt and pay for fathers house.

To be quite honest they had made a right rubbish of farming it. 700k or so on 160 acres to buy it out. Farm is run right down with no buildings or handling facilities.

I was already farming in my own right with sheep and cattle. But getting about 500 ewes with the farm.

Do I need to wise up and let it go?

So you are getting a 1/4 of 160 acres and all the existing debt?

 

[Roger Perry]

Taking over part of the family farm, currently going through fathers and his brother partnership dissolution. I’m not getting the whole half share, that is going to my other brother however I am expected to shoulder all the debt and pay for fathers house.

To be quite honest they had made a right rubbish of farming it. 700k or so on 160 acres to buy it out. Farm is run right down with no buildings or handling facilities.

I was already farming in my own right with sheep and cattle. But getting about 500 ewes with the farm.

Do I need to wise up and let it go?

From afar, this does not strike me as much of a deal, as portrayed there is a lot of emotion involved in the mix and that can cloud the decision making.............if you can distance yourself and let the numbers alone make the decision you will feel better long term.

In these uncertain times it may pay to be a little cautious, good luck to you whichever way you decide to go.