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Opinions on this farm scenario?
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<blockquote data-quote="Farmer Roy" data-source="post: 7952627" data-attributes="member: 71668"><p>err, I wouldn’t have thought it that odd surely ?</p><p></p><p>buying out siblings / family members, purchasing land, a few bad seasons etc etc </p><p></p><p>not hard to run up a bit of debt & I’d say most farms here have substantial borrowings. There is nothing intrinsically wrong with debt - it’s the ability to service it that is the main thing.</p><p></p><p>6 figures - that could theoretically be £100,000, which is less than it would cost me to update a tractor</p></blockquote><p></p>
[QUOTE="Farmer Roy, post: 7952627, member: 71668"] err, I wouldn’t have thought it that odd surely ? buying out siblings / family members, purchasing land, a few bad seasons etc etc not hard to run up a bit of debt & I’d say most farms here have substantial borrowings. There is nothing intrinsically wrong with debt - it’s the ability to service it that is the main thing. 6 figures - that could theoretically be £100,000, which is less than it would cost me to update a tractor [/QUOTE]
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