Frustration that we cant buy a farm...
- Thread starter Selectamatic
- Start date
Chae1
Member
- Location
- Aberdeenshire
I'm frustrated. I d really like to buy a Ferrari but just can t afford it. All the rich people keep buying them which is really annoying. If they stopped I'm sure the price would come down.
Hilly
Member
- Location
- Scottish Borders.
Buy a scrap mini metro and build your way up to a Ferrari.
- Location
- Haute Vienne, France
Stick 50 hectares with it, it'll sell then
Yes cheers bob, problem is I am a farmer, I bought a farm with 7 houses on it, if I stick 50 hectares with every one I will have nothing left to farm.
Isn't that a bit like saying you should live in a tent, rather than take out a mortgage and buy a house which you will one day pay off and own.
1 cow's a hobby, 10 maybe a business which will generate income to pay the bank and buy a 2nd cow for yourself. Very few businesses can grow without a bank of some sort. You would be waiting a long time to get anywhere if you only bought from saved up money.
The other hypocrisy in this thread, is on one hand moaning that land's too dear but then saying"oh but it's a good investment"presumably meaning, "I want to be allowed to buy cheap land, but then hope it grows in value so that if i sell it ,it will be worth many times more, so sod anyone on the bottom rung"
Sussex Martin
Member
- Location
- Burham Kent
Walterp
Member
- Location
- Pembrokeshire
I had to lie down for a while after reading this guff.
Accepted, it's a lovely piece of Victoriana, redolent of broadcloth, farm servants tugging their forelocks, gold sovereigns carefully hoarded, and farms bought for cash. But it's also backward and dangerous. I'm truly surprised that anyone with any business sense 'likes' it.
The better way to approach capital appreciation is to teach your kids to 'leverage your assets'. It is, and looks set to remain, the only reliable way to grow a business of any description.
gone up the hill
Member
- Location
- Devon
The 1 v 10 cow's was an example......
( ie put your own figures in!!!! like 100 v 1000 cows )For the record I started off with nothing..... borrowed a lot of £££s have no payed it all off thru being canny and very very very hard work... was it worth it?? not sure on that one as the personal cost to me in my 20's was massive... doing 100 hour weeks for 7/9 years and having no life just to farm!!!!!!! tbh im very lucky now that I own a lot of land/animals/machinery/ house's and all are owned outright with no borrowings.... would I borrow money again like I have in the past??? NO NO and NO!!!! I cant get back my lost 20's and at the end of the day it isn't no good being the richest guy/woman in the parish graveyard..... by all means grow your business.... but do it off the back of profits....
If you think the bank manager is your friend forget it....
Yea im very lucky land is worth what it is now BUT I don't understand people saying farming is a great way of life... it isn't... farming is a bloody hard and tough job... but its that............. a job!!!!!! nothing more...... nothing less.....
gone up the hill
Member
- Location
- Devon
How many businesses that haven't had borrowed money from the bank have been bankrupted/ made to sell assets by the banks when the sh!t hits the fan like????????
What has driven the crazy house prices.... land prices the last few years........................................... banks loaning money far too easily!!!!!! simple as!!!!
Walterp
Member
- Location
- Pembrokeshire
Even more guff...The 1 v 10 cow's was an example......
For the record I started off with nothing..... borrowed a lot of £££s have no payed it all off thru being canny and very very very hard work... was it worth it?? not sure on that one as the personal cost to me in my 20's was massive... doing 100 hour weeks for 7/9 years and having no life just to farm!!!!!!! tbh im very lucky now that I own a lot of land/animals/machinery/ house's and all are owned outright with no borrowings.... would I borrow money again like I have in the past??? NO NO and NO!!!! I cant get back my lost 20's and at the end of the day it isn't no good being the richest guy/woman in the parish graveyard..... by all means grow your business.... but do it off the back of profits....
If you think the bank manager is your friend forget it....
Yea im very lucky land is worth what it is now BUT I don't understand people saying farming is a great way of life... it isn't... farming is a bloody hard and tough job... but its that............. a job!!!!!! nothing more...... nothing less.....
It always surprises me how much value farmers attribute to their time and work, when in reality their commercial success (or, sometimes, failure) is more often down to timing - buying things at the right time, sometimes selling things at the right time, even borrowing capital at the right time.
With the benefit of hindsight, the work often represented the way the farmer chose tp spend his/her time, whilst they waited to see whether their buying and borrowing decisions were the correct, or the incorrect, steps to have taken. In many cases, the outcome would've been the same had they chosen to rent the place out and go on a walking tour of the Hindu Kush.
Lots of hard-working people go bust, it isn't always their fault, timing can go against anyone.
And everyone ages.
gone up the hill
Member
- Location
- Devon
You talk rubbish at times Walter.... very VERY few farmers are lucky to have had such a high paying career before they turned their hand to farming as either a hobby/tax dodge!!!! ps : how are the lady tenants in the flat????
Walterp
Member
- Location
- Pembrokeshire
The key word there is 'luck', or its synonym 'timing'.You talk rubbish at times Walter.... very VERY few farmers are lucky to have had such a high paying career before they turned their hand to farming as either a hobby/tax dodge!!!! ps : how are the lady tenants in the flat????
Get your timing right, and any career (law, agriculture, banking, medicine, etc etc) will be lucrative. With bad luck/timing, none of them will be rewarding.
Although me and Julie have done our bit of slog, with the benefit of hindsight I'd not hesitate to attribute our success primarily to good luck and good timing: setting up a practice at the start of the 1980's property boom, benefiting from the swansong of the Legal Aid scheme, buying farmland when £1,000 an acre was the benchmark price. None of this arose from work, merely from timing.
Would we have succeeded had we worked less, and partied more? Of course we would, so long as we took those few key decisions.
Walterp
Member
- Location
- Pembrokeshire
And another thing: the most miserable, tight-fisted, misogynistic scroats I know are those unhappy farmers who believe that material success should flow from hard, grinding, physical drudgery.
Why?
Why?
gone up the hill
Member
- Location
- Devon
Walter... life is for living..... work to live.. not live to work ( many farmers do the opp of this! ) iv had good luck/timing but it comes alongside being canny and a lot and I mean a lot of luck.... but not everyone get's this luck..... so what do they do instead???? just give up????? that's not the answer... many ways into farming..... you just have to find the one that works for you!!!! hence the OP's question!!!!!!!
Baling Hay
Member
Have you ever done anything else?
Baling Hay
Member
The 1 v 10 cow's was an example......
For the record I started off with nothing..... borrowed a lot of £££s have no payed it all off thru being canny and very very very hard work... was it worth it?? not sure on that one as the personal cost to me in my 20's was massive... doing 100 hour weeks for 7/9 years and having no life just to farm!!!!!!! tbh im very lucky now that I own a lot of land/animals/machinery/ house's and all are owned outright with no borrowings.... would I borrow money again like I have in the past??? NO NO and NO!!!! I cant get back my lost 20's and at the end of the day it isn't no good being the richest guy/woman in the parish graveyard..... by all means grow your business.... but do it off the back of profits....
If you think the bank manager is your friend forget it....
Yea im very lucky land is worth what it is now BUT I don't understand people saying farming is a great way of life... it isn't... farming is a bloody hard and tough job... but its that............. a job!!!!!! nothing more...... nothing less.....
How did you get the bank to lend money to you if you had nothing?
Robw54
Member
- Location
- derbyshire
I did realise that the 1 cow thing was an example, i'm not that stupid!. I was using the same analogy, no need to bang your head.The 1 v 10 cow's was an example......
For the record I started off with nothing..... borrowed a lot of £££s have no payed it all off thru being canny and very very very hard work... was it worth it?? not sure on that one as the personal cost to me in my 20's was massive... doing 100 hour weeks for 7/9 years and having no life just to farm!!!!!!! tbh im very lucky now that I own a lot of land/animals/machinery/ house's and all are owned outright with no borrowings.... would I borrow money again like I have in the past??? NO NO and NO!!!! I cant get back my lost 20's and at the end of the day it isn't no good being the richest guy/woman in the parish graveyard..... by all means grow your business.... but do it off the back of profits....
If you think the bank manager is your friend forget it....
Yea im very lucky land is worth what it is now BUT I don't understand people saying farming is a great way of life... it isn't... farming is a bloody hard and tough job... but its that............. a job!!!!!! nothing more...... nothing less.....
You sometimes have to take opportunity's as they come along. For instance, i'm a tenant farmer, but have managed to buy 75 acres of land in the same village.
I borrowed the money, as by the time i had "saved up", it would have been sold.
It was a struggle at times to pay for it, but now it's all paid for and has gone up quite a bit in value from the £2k/acre i paid.
No way could i ever have saved for it out of profits from the tenanted farm, but used the land to produce a profit to help pay for it.
Hilly
Member
- Location
- Scottish Borders.
Nothing wrong with borrowing to buy land, its when you start borrowing for fancy hols and Rangerovers etc etc that the trouble starts !
Baling Hay
Member
I'm confused how @gone up the hill got going with nothing if he never borrowed money, I would love to hear how!