I apologize for you getting your July 9 e-mail yesterday. I was on vacation while my e-mail collapsed and was unable to repair it while away. It turns out sending an e-mail to 600+ subscribers on time isn’t as simple as ‘copy+paste’. 🙂
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This post of mine went viral on X.com about a month ago, let me know your thoughts in the comments below!
6 Characteristics of Farm Buyers
Farmers who regularly acquire new farm ground have 6 characteristics they share that you can adopt, even if you don’t yet own ground or can’t afford land at these prices.
When I think of my 5-7 most frequent buyers of farm ground, I can identify these features in each of them. I see these traits in various operation sizes, family structures, and ages.
The similarities:
They have their own customizable Excel spreadsheets and a particular way of tracking their breakevens. It might only make sense to them, but breakevens are always recalculated as scenarios change.
They monitor their cash position constantly. Every purchase or possible upgrade is compared against the impact of their cash position. If it cost too much, they find another way or wait.
They are ready to think outside the box to get a deal done. When others see too many hoops to jump through or too big of a deal they can’t afford, the best get creative and aren’t overwhelmed by the challenge.
They ask for more help from experts than others, even though they are already some of the best farmers in the county. They are still hungry to know more and don’t have too much pride to admit others can teach them something.
They have an entrepreneur’s mind. You may see a field in a bad location. They see the prime location for a few lots to be sold off and new farm related business to be created which will 3x their returns.
They manage their risks. The operation might be paying top dollar for a few things, but they won’t stick their neck out unnecessarily if the upside potential isn’t there.
BONUS: All are motivated to prove themselves. They all want to be the best farmers possible and operate with a slight chip on their shoulder. You wouldn’t notice this publicly, but it comes out working with them closely in private.
All this adds up to=THE DEALS FIND THEM. They aren’t getting lucky. They have proven themselves time after time and are seen as reliable buyers of new opportunities and stewards of the land.
You can develop these 6 traits for yourself, but only if you have the BONUS trait. Without the proper motivation to be the best, I’m not sure the rest of these traits can develop.
Is there anything you would add or disagree with?
Have a great week!
Grant
All views expressed on this site are my own and do not represent the opinions of any entity whatsoever with which I have been, am now, or will be affiliated. Information provided is authentic to the best of my knowledge, and as such, is prone to errors and the absence of key details. The content of this blog is for entertainment and informative purposes and should not be seen as professional advice to finances or any other field.