#194 - He Survived The Farm Crisis of the 1980's: How Alan Ammons Went From Bankrupt Farmer To Owning A Real Estate Firm
Description
Welcome to the land podcast, a platform for people looking to educate themselves in the world of land ownership, land investing, staying up to date with current land trends in the Midwest, and hearing from industry experts and professionals.
On today's episode, we are back on the road in Iowa with one of my all time favorite conversations with a now great friend Alan Ammons. We discuss:
- Alan Ammons shares his journey from farming to the Navy and back to agriculture.
- He bought his first farm in 1975 with help from his father, risking his family's land.
- The 1980s brought economic turmoil, leading to significant losses in farming.
- Alan reflects on the emotional toll of losing his farm and the feeling of failure.
- He discusses the impact of high interest rates and falling land values on farmers.
- The conversation highlights the importance of adapting business models in agriculture.
- Alan's experience with a deed in lieu of foreclosure helped him clear debts.
- He emphasizes the community's struggles during the farming crisis of the 80s.
- Alan eventually returned to farming and started a real estate business in 1989.
- The discussion underscores resilience and the lessons learned from tough times.
And so much more!
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