Welcome to the 25 new subscribers this week!
Next week I’ll have a new farm buying case study to review, in the meantime:
NW Call to Action:
This week only the Farm Buying Toolbox is available: Shop – Farm640
I spoke with Shay Foulk from Ag View Solutions about the Farm Buying Toolbox, helping the next generation of farmers buy ground, which you can listen to here: #616 – “Farm Buying Toolbox wi – The Ag View Pitch – Apple Podcasts
And here’s a sneak peek of what is available, but it goes away after September 15…
Do you want to buy farm ground but haven’t been able to acquire any due to:
the price of land…
large down payments needed…
lack of positive cash flow…
lack of availability…
or not understanding your financials?
The tools to get your name listed as ‘owner’ exist. Techniques thousands of farmers have used to buy farm ground are here, and they can be yours. Available for just 5 days!
Did you know, on average every year you don’t buy 80 acres of farm ground it is costing you $10,186. Every year you wait, it will cost you $10,186 more to buy (U.S. farm real estate: average value per acre 2023 | Statista).
Here’s What You Get with the Farm Buying Toolbox
The Basics: 101 (Tape Measure)
6 Balance Sheet training videos that walk you through putting the perfect financials together… and then understanding the ratios behind the numbers.
The Balance Sheet + Scenarios spreadsheet is a balance sheet made for the farmer. Combine it with the 6 Balance Sheet training videos to discover your position, include your new land purchase, and watch your wealth grow.
10 Year Balance Sheet Trend spreadsheet is the secret to your financial success. Track your working capital and net worth year-over-year to allow for sound land buying decision making.
Cash Flow + Ratios is a handy monthly cash flow with separate lines for different loan payment types. Financial ratios are included to help understand your position. The most financially successful operations know their numbers the best.
Cash Flow Trend enter your historical cash flows to monitor for high percentages of expenses atypical to your operation. Identify where expenses are getting out of line and make corrections.
You can’t update all the above on a land purchase without a proper Amortization Schedule + Compare. Discover impacts to your cash flow and working capital on any potential purchase.
Preparing to Buy: 201 (The Screwdriver)
Farm Buying Decision Tree provides feedback if you are potentially offering too much, using too much cash, or have room financially to place one more bid.
30 Day Auction Guide Checklist shares all the steps I take to prepare for bidding on farm ground at auction and through listings. Discover the actions needed to make deals happen.
The 5 C’s of Credit are a must to get your loan approved. The bank uses them and if you want to stay financially strong, you need them too.
Balancing Working Capital vs Cash Flow structures your first land purchase the right way, so you are in position to make a second land purchase sooner.
Buying Case Studies show how I completed my first two land purchases along with more examples. See how you can Buy Farms with Less Cash, or even be paid cash at your loan closing.
5 Items on a Purchase Agreement you need to be aware of before signing the contract.
Lending Timeline details what the bank is doing to prepare your loan and what you can do to help get the loan approved.
FSA FAQ provides information most don’t know until after the transaction is complete. Having this knowledge before the purchase can prevent you from being disqualified from this vital purchasing program.
Plus Extra Bonuses!
If you want to buy farm ground but haven’t been able to get it done, get help here: Shop – Farm640
Next week will be back to the traditional newsletter. Stay safe with harvest.
Thanks, and have a great day!
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.