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Tractor Talk Discussion Forum

Decisions, Decisions

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casetractor5

02-27-2006 03:51:12




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Alright guys and gals, need a little input on my current situation. A very good friend of mine just past away. He was a truly good man and will be missed by alot of people. I worked for him on and off for a few years and still went back and helped him on the weekends or whenever I could. He kept a few beef animals around and did about 240 acres of hay. And here is a the dilema, his sister who is about 80 (he was 83) wants to keep the place running (ie. harvesting and selling hay and raising the beefers) and she wanta me and another friend to help her. Well I just moved 2 months ago an hour and a half away to Massachusetts (farm is located in Connecticut) which is about an hour and a half away. And i know I am definately not going to ba able to help her except on weekends if i stay here. And i was just offered another job back their. So i was wondering what you guys thought I should do. I love my current job (parts man for a Massey dealership) and am treated real well. And the job offer is for the same job just for New Holland with a little bit of a bad reputation, but still not horrible. Well I would appreciate and input on my situation. Thanks in advance and hope you all have a great day.

Pat

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retired farmer

02-27-2006 18:48:33




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 Re: Decisions, Decisions in reply to casetractor5, 02-27-2006 03:51:12  
I would probably stay where you are. Years ago I used to drive a truck about two thousand miles a week and then drive a four hundred mile round trip from where I lived to a ranch my parents had, and worked about five hundred acres during the summer. Never made a profit during the entire sixteen years that I did it. Company I drove for eventually became a J-----s so I quit and bought a 265 acre ranch and did that for ten years. Just made enough to pay the mortgage each year. Wasn't really worth all the hard work. Agriculture is a dead business that hasn't been buried yet. The only downside to staying where you are that I can see, is, working for a Massey dealer, I couldn't do that, John Deere, yes.

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kyhayman

02-27-2006 16:07:20




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 Re: Decisions, Decisions in reply to casetractor5, 02-27-2006 03:51:12  
If you are interesting in owning the place, see if you can work out an arrangement. I'd sure try to negotiate. Alot depends on how you like where you are living now vs. living there. For me, I'd make an offer on rent to own, do it right with all the right legal documents. Another question I'd ask myself is what is the heir situation. One of my friends that I went to school with did a help out on a situation like this, guy passed away with no heirs, and left him the farm. Nice 150 acre dairy farm, in a sweet location (development potential wise), worth about $1.5M when he got it, and about $4.5M today.

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aFORDable

02-27-2006 13:59:55




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 Re: Decisions, Decisions in reply to casetractor5, 02-27-2006 03:51:12  
I'd stay put and maybe help if and when i wanted to. That is an unstable situation .



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JDknut

02-27-2006 09:01:48




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 Re: Decisions, Decisions in reply to casetractor5, 02-27-2006 03:51:12  
I'd stand Pat ( pun intended). Sounds like you got it good where you are at. Help her whenever you can, but I'd hate to give up a good job for that. Not like it was your sister or mother. Even if you can get one almost as good there, you still have the longevity where you are now and thus presumably better job security which is so important in this day and age. just my $0.02.



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Mike (WA)

02-27-2006 08:37:14




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 Re: Decisions, Decisions in reply to casetractor5, 02-27-2006 03:51:12  
This looks like a real good thing to stay away from. She's thinking with her heart and not her head, and you should be careful not to fall into the same trap. Besides the problem of continuity due to her advanced age brought up by others, this is not likely to be a profitable operation what with having to hire more help to do it, etc. Unless she's independently wealthy and willing to subsidize it, she may get tired of the deal real fast. If you lived next door it might be a different story, but given your distance away and the good job you have, I'd make the clean break now. Even if you just commit to weekends, these things have a way of becoming a "tar baby"- once you get into it, you can't extricate yourself without hard feelings, and you'll find that a lot more of your time will be needed, regardless of what the "agreement" was.

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TomTX

02-27-2006 06:03:56




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 Re: Decisions, Decisions in reply to casetractor5, 02-27-2006 03:51:12  
Stay with your good job. At 80 things may be temporary.



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Kestrel

02-27-2006 05:02:21




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 Re: Decisions, Decisions in reply to casetractor5, 02-27-2006 03:51:12  

Has she or her family considered selling the development rights to the state of CT under their farm preservation program ? Of course, this is a very personal decision, but it would alllow your friend's legacy and her's to live on in the farm's future owners.

You might then find it more valuble be a part of it, working part time, etc. knowing your efforts were not just temporary. Just a thought.
Kestrel, CT.

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TRC

02-27-2006 04:07:02




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 Re: Decisions, Decisions in reply to casetractor5, 02-27-2006 03:51:12  
I would be concerned about what happens when the sister passes away. Will the property remain in the family and the farming continue, or will it be sold off? There is no guarantee that she will be around for very long and her passing might mean the end of the farm, and your involvement with it, as you know it. I know I would want to help and be involved, but it is difficult to leave what you know is a good situation for a maybe and an uncertain long-term. Tim

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