Farm credit was much more expensive than a traditional loan for my property. Can’t wait till I am past my 24 month window to refinance it.
Thank you all again! Every reply is helpful and is helping me to find at least a direction to go in.
To open another can of worms; for you folks who are operating businesses, did you consider investors? I’ve got a couple of clients who have approached me about investing in this, and it scares the crap out of me. I do not think it would be a good idea, but, it is money to significantly help get things rolling…obviously an iron clad contract would be needed, and several contingency plans for when/if we no longer want to be in business together, and I’m trying to come up with the maximum amount of ownership/equity I am willing to give up from the get-go before we even explore options.
How do you feel about giving up control?
[QUOTE=TrotTrotPumpkn;8130210]
How do you feel about giving up control?[/QUOTE]
That is the question I have repeating in my brain about every other second all day every day since these gentlemen have mentioned the interest. I can see both sides of the coin. Complete control feels comforting and right, but having folks who can help balance the financial obligations has its upside for sure, but what kind of decision making power will they require? What if they want to turn this into a Parelli facility?!
I don’t want to give up more than 10% ownership. Enough to use their business expertise for guidance but not enough to make big management changes. That’s the thought today, anyway.
