Running a successful farm takes a lot of hard work both in the fields and in the office.
Leaders at Hebert Grain Ventures tell aginfo.net that farmers should view their operations as separate businesses.
“You run two [businesses],” said Kristjan Hebert. “You run a farm operation, and you run a real estate business. Understand the numbers on both of those. It’s no different than, you know, Walmart sells stuff and they have a building. If you have a hotel, you need it to be full. So, is your farm profitable? Is your real estate operation profitable? Yes, they’re at different rates. Then, how much cash flow does your farm operation have, and how much equity does your real estate operation have? You need to know both of those numbers because your real estate equity allows you to buy land, and your cash flow from your farm allows you to pay for it.”
Hebert says knowing that information will make lending requests a lot smoother.
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Learn the conditions farmers must meet to qualify for this new three-year tax deferral on farmland sales, how much it could save, and other details to consider.
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RFD-TV farm legal expert Roger McEowen digs into the details on how to make your rural property dreams a reality — and avoid a living nightmare.
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David Hardin with the Indiana Soybean Alliance discusses USMEF’s push to open new global export markets for both meat and soy-based feed.
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FD-TV’s own Tammi Arender caught up with Gregg Doud, President and CEO of the National Milk Producers Federation.
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