Young ones starting out

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By Dwain Duxson

Young ones starting out - We wrote the other day about how young people are making small incremental steps towards their ambition of owning Land. A Farm Consultant who owns Farm Land himself, told us of a couple of case studies of young people he works with that are successfully doing it. 

Case 1) A young couple put their life savings into a low productivity Farm in the Mallee of SA. They have 3 young kids, and the wife was teaching. The husband was Contract Spraying, and with some pretty ordinary Gear, they managed to pull it off in the first year. 

Case 2) A Couple with 4 kids purchased Land in the Eyre Peninsula with the security of his parent's home. They, too, are doing some outside Share Farming, Leasing, and Contract work to realise their dreams. They have had 2 good years now and are starting to get ahead. 

The consultant said that in both instances, there were some common factors:

• A couple operating with common objectives – A good team
• Ambition to Farm and run a business in their own right
• Recognition that contract income is a necessary part of business – It pays the bills
• Use of off-Farm salary work – It also pays the bills
• Understanding that external financial advice is essential – avoid the mistakes
• Well-informed and preparedness to undertake training – Improve personal capacity
• Local support for young people – Preparedness to provide Share Farming or Leasing - Giving them a chance

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