The Next Step Down a Never Ending Road!
This past week we did something we've never done before: we closed on a house! We are super excited about our new house even though we still won't be moving for another couple weeks!
Buying a house: Check!
We don't have a picture of our new house so we'll show you Pen 8's "house" instead! They are terrible at maximizing the space they have for optimal use.
Buying a house is a goal we have worked for, for what feels like forever but in reality has been about 3 years. Being young, having student loans, and running your own business does not put you in the good graces of many mortgage companies. The only way we can prove our source of income is through tax returns so we've had to wait a whole year in between each attempt at procuring a mortgage which requires a gigantic amount of patience that we still don't feel like we possess! Now that we've completed this goal, it's time to move on and focus on our next step.
Buying the farm: In Progress
Owning the farm has been something we've been working towards our entire career!
Our next goal would be to buy the feedlot we are currently renting. The owners of the feedlot have always been kind and understanding when working with us and have, thankfully, been willing to wait until we could afford to buy the feedlot instead of selling it to someone who could afford it right this second. We thank God for this relationship with our landlords because it is not something you find every day between people who are not related in any way.
Careful Planning
After buying the farm we'll work on being able to build some new barns.
Buying the feedlot will require us to be very judicious with our money the next 5-7 years. Our goal is to have less debt (goodbye student loans!) and have more assets. This means we need to make smart purchases when we can, such as buying tractors we can pay off in just a couple years, and put extra profits towards our debts. We already have a basic plan for how we are going to accomplish this that will become more defined along the road.
By always looking forward and setting a new goal for ourselves we are always providing ourselves with a way to measure our success or lack thereof. We can also look backward and take note of how far we've come when we feel like we've stalled out at a specific step. We're really looking forward to the future and hope that you'll enjoy reading our future posts about where our next step takes us!
Thanks for reading!