Did We Make A Huge Mistake?

7-Yan, 2021
256 242 Ko‘rishlar soni

We decided not to buy our neighbors farm, did we make a huge mistake? Thank you for watching!
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Cole The Cornstar, aka Cole, is a 4th generation family farmer from Central Iowa who is the life force behind his family’s 1,700 acre farm. Cole promotes agriculture by filming his day-to-day adventures with his Dad (Daddy Cornstar) and brother (Cooper) on the farm. With a lot of help from Daddy Cornstar, Cole instills humor and education into his videos fit for both young adults and adults. Despite being 23-years old, Cole has an old-fashion work ethic with an innovative approach toward agricultural technology and practices. Cole's mission is to prove the American Dream is not dead and be a megaphone for agricultural education and innovation, from technological advances in farming equipment to conservation practices.
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Cole The Cornstar
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Marshalltown, Iowa 50158
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Watch more Videos like this:
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► Edited By Cole The Cornstar
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  • Not sure how the farm land prices are in Iowa but in Missouri, it is a seller's market right now. Folks are holding onto what they have as a plan B and if they are selling, they know they are getting top dollar. I think its a fair choice not purchasing the land. The only caveat to this is that its right there next to the farm. That could be a missed opportunity that you may not have a choice again until your children are old enough to make that decision. Also, you keep mentioning that net worth don't mean much when you will never sell, but you also mention that it does when it comes to the IRS and banks. I'm not a finance person like you Cole but to the average Joe, Equity is king in my book. If crap hits the fan and you have to sell that land in 5 years, the amount of loss you "could" have, should outweigh the resell of the land if you sold it at the same price you acquired it for. No guarantees of course for those prices but if the land is set to produce as you normally would on the rest of your land, the risk factor is decently low.

    JoeJoeSoat oldin
  • It sounds like you’ve already made a decision not to buy the land . However I thought about this . 1) have you thought of selling acres further away from the desired farm you wish to purchase? 2) marking the purchase contingent on the sell of lesser desirable acres ? Just a thought I like watching the family and hope you continue to operate a profitable family business. God bless

    Tony O'ConnellTony O'Connell16 soat oldin
  • Im not farmer I have nothing to do with farming I just enjoy your content and I do like when u actually explain how it all works and from all the videos I have seen I now understand everything is about planning and especially planning ahead

    no uno u2 kun oldin
  • I love learning more about the farm Cole and l would love to see more on the remodeling of the farm house. I think it is beautiful and I love the different kind of windows in the house and the wood work is just stunning and well-preserved. I love listening to you talkin about the farm. I wish you all the best and we'll be praying for you. God bless you and your family. Bye for now Tammy

    Wild HorsesWild Horses2 kun oldin
  • what really is your "forte" outside of being a self promoting douche?

    ww xoww xo2 kun oldin
  • You all know how to stay solvent.....im impressed.

    Carolyn CriderCarolyn Crider2 kun oldin
  • Excellent

    Mark GambleMark Gamble3 kun oldin
  • Great video! I'm not a farmer (I'm an economics teacher in high school). My dad grew up on a farm then joined the Air Force. I heard about the farm all the time while I was growing up. I really appreciate the information you provide (on multiple levels). I enjoy watching and learning. BTW - I've watched other UZworld farmers and they have never given this kind of information. You do a GREAT job! Thank you for sharing. Please keep it up!

    Mark SengMark Seng3 kun oldin
  • You need a BIG Dog !

    Ken FaceKen Face3 kun oldin
  • I don't think you quite realise that your video's from a business education point of view are nothing short of excellent. Having been an international VP running a billion dollar company, some of the best I have seen. Well done Cole, great job and keep at it. A word of advice, figure out how you can translate these videos into the corporate business world. They have a strong basis to educate new entrants to the corporate environment into the world of corporate finance. Have you ever watched the Pike Street Fish market video. This have been used 1000's of times across the world to facilitate the art of teamwork. Best wishes from the Yorkshire(UK) and Provence(France) - I have homes in both places...

    Lester PulsfordLester Pulsford3 kun oldin
  • On top of being remarkably enthusiastic, a cleaning and organization ninja, you're also a finance guy! You should probably be running the country, or at least your State.

    Catherine HodgesCatherine Hodges3 kun oldin
  • Great video always interesting

    Clear Creek FarmClear Creek Farm3 kun oldin
  • Good info. Whatever you do is education for me!

    Beth FrazierBeth Frazier3 kun oldin
  • Your a legend cole. The best one out there, i want you to know that. God bless you and the family

    cooncoon4 kun oldin
  • You are absolutely right! You are very wise! So wonderful to watch your videos. Great Job! I am thankful you love the Lord!

    CarrieRae Dixon BrownCarrieRae Dixon Brown4 kun oldin
  • Will you PLEASE be my financial advisor??!!😁

    christine azmichristine azmi4 kun oldin
  • I would use a laser scarper to do what you need and that's quicker way of doing what you need..

    Chris CardozaChris Cardoza4 kun oldin
  • I really enjoyed this. My grandfather had a lovely farm but with six children, it got split up when he died and passed out of the family. How does your family deal with inheritance issues?

    Lori McClaskeyLori McClaskey5 kun oldin
  • I love these videos. It’s great to see such a young man making sound decisions to continue to secure the future for yourself and your family. And to top it off, you don’t mind sharing that knowledge and insight with others. I believe that is why God will continue to bless you.

    Monica BurnettMonica Burnett5 kun oldin
  • I find these videos fascinating! And informative. Excellent. I would be interested in learning more about the state of farming today in the US versus previous times. Where or how that affects your farms - regulation? Pricing? I recall back in Carter admin seeing farmers driving their tractors to DC and the start of Farm Aid..what has changed? Maybe, too broad - but you are so good at breaking things down! Thanks.

    Mark ShippMark Shipp5 kun oldin
  • Would it make sense possibly to purchase the acres next to your farm, and perhaps sell a piece of ground that you have debt on and maybe is lower producing than the prospective farm to buy? Its probably way too late, but I notice that you have a lot of pieces of ground, would it make sense to consolidate and sell off some of those outlier properties that may not produce well? Can you 1031 exchange tax liability into the new piece of ground if you sold an old one?

    Tony BuhrTony Buhr6 kun oldin
  • Dude, watched you off and on the last year or so (more off than on)... backwards complement here, thought you were just another spazzy kid who's dad was basically giving him the ability to farm. Gotta say, this video impressed me, I'm a business owner/operator trying to farm. Like you but smaller scale (farm wise), face decisions and criticism like the ones you rattled off. I agreed with pretty much everything you said. Good for you, glad you're involved in the "tough" part of farming. My opinion the work is easy, management is the real job. Keep up the good work, ✌ from NE

    Trent PhillipsTrent Phillips6 kun oldin
  • If corn and soybean prices stay like this, a big mistake may have been made. I know, you can't spend "IF".

    10-410-46 kun oldin
  • After watching this video I realized I did not learn anything from the Economics 101 class I took years ago. I do not always get to watch all your videos but I enjoy the ones I do get to see.

    bshilling9924bshilling99247 kun oldin
  • WOW!!! There is so many levels to the business of farming. This is an excellent insight into the behind the scenes of farming. Great video Cole.

    Petranilla14Petranilla147 kun oldin
  • More of this please

    Alex MAlex M7 kun oldin
  • Did I miss understand or did he turn down what I understand to be at least average farm ground for 850 per acer? It sales for 8500 to 10000 an acer here in the southeast. I'm sure I must be confused. But rent it for 250 or buy it for 850? .

    mrih1586mrih15867 kun oldin
    • You are confused, he turned it down because he would be paying 850.00 per acre, per year for 25 years.

      Trent PhillipsTrent Phillips6 kun oldin
  • Cole, I'm sorry,but your videos got to be too long.

    Jean BakerJean Baker7 kun oldin
  • does your family have a say?

    Lynn LopezLynn Lopez7 kun oldin
  • Nice video 👍 really enjoyed the financial strategy behind the acquisition of equipment and land. Having money on hand when running a business is so important need money to make money.

    Crash JumpCrash Jump7 kun oldin
  • Some times you have to do the hard thing for a short while to make the long-term better

    Wayne JonesWayne Jones7 kun oldin
  • How do you irrigate your fields you gotta show us your irrigation system

    Sher KhanSher Khan8 kun oldin
  • You are so smart Cole. Thank you for educating all of us on the importance and the intelligence you need to be a farmer in today’s USA!

    Kimber BlueyesKimber Blueyes8 kun oldin
  • That makes more sense. With that being efficient and productive means you can have a better cash flow. Witch in the end after all the debt is paid you can than purchase and upgrade in many ways per say land

    Alex AndersonAlex Anderson8 kun oldin
  • You answered my thought on it. The new farm wouldn't pay for itself.

    Charles's OutdoorCharles's Outdoor8 kun oldin
  • A couple things you didn't mention about equipment are productivity and down time. A newer, larger, more efficient combine will pay for itself by being able to harvest the same number of acres in less time, with less input cost. Down time is when a piece of equipment breaks or needs routine maintenance. New equipment still breaks, but it theoretically breaks less (is more dependable) than old equipment. When you have down time with a piece of critical equipment like a combine, all production stops. For business to run efficiently you have to minimize down time. A great way of doing that is to have newer equipment that doesn't break down in the middle of harvest season when the sun is shining and the ground is dry. I used to work in heavy construction and our shop foreman told me you can either have old equipment and a fleet of mechanics, or you can have new equipment and just two or three mechanics.

    Nick SchaffNick Schaff8 kun oldin
  • These videos are great from a person who is not a farmer. Puts our world into perspective.

    Random Robert RenditionsRandom Robert Renditions8 kun oldin
  • One option I did not see in your analysis was the potential to buy the farm and sell it (or other land ) to an investor that agrees to rent it to you. Or some sequence of transactions that gets the same result. You'd think your social networking would put you in contact with folks willing to do that. Is that frowned upon in your neighborhood?

    Mike GodleyMike Godley9 kun oldin
  • That made a lot of sense. I’m sure it was a decision that bummed you out. Is it possible to watch the price and see if it comes down to a sustainable level or is it something that will never get there? Thanks for taking the time to share your farming with us.

    Pete SchiavoniPete Schiavoni9 kun oldin
  • Mom!!! The numbers won't add up. Mommm?!

    ComfortableComfortable9 kun oldin
  • Cole the CEO, COO and CFO. But, without Cooper as the leading hand, and Daddy Cornstar, no business. Momma Cornstar, I suspect, holds it all together. Thanks Cole and the rest of the family :)

    ComfortableComfortable9 kun oldin
  • Brother Cole you seem like a really good man!!!!! I'm praying for God's blessing in your decision-making that he give you the wisdom the knowledge the grace the favor the blessing and the courage that you need!!! Oh yeah and the discernment!!! Be blessed young man and family!!!!!!😊

    James MoodyJames Moody9 kun oldin
  • Soo glad to see these types of videos it shows the side of farming you never get to see from other UZworldrs.

    Chris devineChris devine9 kun oldin
  • i really liked this video

    enmanuel francoenmanuel franco9 kun oldin
  • Hey Cole, lets see the cash flow break down of the new bin sight as compared to the coop. Good to see your farm moving forward!

    Tyler CoburnTyler Coburn9 kun oldin
  • is lease finacing a possibility?

    Luke RaeLuke Rae9 kun oldin
  • Brian Miller construction in Victor does a great job

    zach Zuberzach Zuber9 kun oldin
  • I like the financial videos. It's like a little behind the scenes insight. The bottom line seems to be the farm was not really that big and it was overpriced.

    Randy BRandy B9 kun oldin
  • This is awesome content! I'm heading back to the family farm soon, and it's good for someone to say the truth about cash flow out loud and clearly for farmland purchases. Ive gotten a lot of conflict avoiding non answers when I bring up that I can't see any way of buying my own land for a while.

    Jacob McClernonJacob McClernon10 kun oldin
  • For someone who is pursuing a finance degree and enjoys farming this is a great comment section and video!

    Ross EldridgeRoss Eldridge10 kun oldin
  • the breakdowns are great keep them coming

    Arria RyanArria Ryan10 kun oldin
  • Good video, I look at land more sentimental because I have a business that pays for my farming habit that I love. This puts what you are doing in a better perspective as your farm is the business. You may have said this but how many acre is the farm that is for sale? What would you pay per acre for it to make sense? Are you going to at least make an offer if you haven’t already? Do you consider proximity and amount of effort/fuel cost to get to the farm for sale when looking at this? Probably a dumb question as it seems like you think about everything.

    Rocco FavoriteRocco Favorite10 kun oldin
  • Thanks Cole!

    H EckH Eck10 kun oldin
  • Nope. Didn’t make a mistake. It’s always about the cash flow - anyone in biz knows that. Only make that kind of acquisition when you are bank rolling your own operation, should you ever get there. Smart move. In the meantime, thanks for helping me figure out that I have been seriouslyunder charging for renting my ag acreage. Decisions decisions.

    ntnstyntnsty10 kun oldin
  • Really enjoyed this one.

    Chris GundermanChris Gunderman10 kun oldin
  • great job explaining.

    ruthie Sruthie S10 kun oldin
  • Can't let emotions run a business. You have to make sound financial decisions independent of emotions. I'm sure Cole is aware there are several families using this farm for income that depend on sound financial decisions. And, slow growth is solid growth.

    Rob JRob J10 kun oldin
  • I love these videos. I’m an accountant that grew up farming.

    Megan JoMegan Jo10 kun oldin
  • Great Video, you have a gift with the finances Cole and we like listening about it!

    Seamus McGrathSeamus McGrath10 kun oldin
  • Thank you so much I love your videos and to take the time and really explain everything to us was very educational and heck just super nice of you. And as always the very best to you and your family stay happy and healthy.

    Michele MooreMichele Moore10 kun oldin
  • Out standing young man, now keep all cyclist in helmets.

    Charles KawskiCharles Kawski10 kun oldin
  • The ability to blend grain makes a grain leg pay dividends higher and faster than adding acres. In time the money you save on docs will buy you more land faster.

    Chad WilliamsChad Williams10 kun oldin
  • This was a great video. I learned a lot! Thanks Cole!

    Tecia GreenTecia Green10 kun oldin
  • brilliant video Cole. you have an amazing Financial brain

    Alan Hill Alan HillAlan Hill Alan Hill10 kun oldin
  • With the bigger equipment you have purchased. What does that do to your cost of growing 1 acre of corn? Now if it is $750 per acre. Bigger equipment means less rounds, less fuel, and etc.

    Jason GJason G10 kun oldin
  • much prefer the financial videos, i don't care what you do to your house.... and i hate lawn, so not interested in that end of things...

    David AinleyDavid Ainley10 kun oldin
  • Lack of cash flow for a business is the absolute worst, been there and you are right Cole. Other opportunities will arise, they always do! And when the gut says no, listen to it!

    Simon CaronSimon Caron10 kun oldin
  • I liked this type of video too..but man it's hard to keep up. You talk fast😂

    DanDan10 kun oldin
  • Just a heads up, alot of people have deleted there fb & Instagram and Amazon accounts and I'm one of them , im still on UZworld for now 🤷🏼‍♀️ I didn't want you to think we left you guys. Just a heads up if you see a down flux in you subscribers 😉, hopefully UZworld doesn't go in that direction. 💞

    Deborah FonnerDeborah Fonner10 kun oldin
  • Excellent excellent video cole

    Steve StantonSteve Stanton10 kun oldin
  • Thumbs up on the video. Can you let us know whats up with Nave? haven't seen he in a while.

    Butch GrissoButch Grisso10 kun oldin
  • I enjoyed watching you put your smarts to use, and exercising patience with the backseat farmer comments, in this video.

    Jenny ShawJenny Shaw10 kun oldin
  • I'm curious if you attempted to negotiate a more favorable price on the farm for sale?

    Scott NunyaScott Nunya11 kun oldin
  • Love these types of videos man. As a first generation farmer, these mean the world hearing different perspectives. Thank you!!

    Peter SchmelingPeter Schmeling11 kun oldin
  • Very well said

    The HillbillyThe Hillbilly11 kun oldin
  • Here's what the broke people say: "Money is really cheap right now", "They aren't making any more of it", "It will never be for sale again", "Once you add it to your paid for land it will look cheap", "Somebody will pay that"........What rich people say: "How do I make money if I buy this?"

    SnSBathSnSBath11 kun oldin
  • Much better detail than the first pass! Quite interesting and contains what I consider to be genuinely useful information. Good job, and bring as many more like this to the table as you can produce! How about one where you justify the whole farming premise? You enjoy the lifestyle but time is worth something too. I once ran a business where I figured out the hard way that I would have made more working at a burger flipping place. I liked being in control, I liked spending big bucks etc., but in the end, it wasn't viable. How much time do you put in, and what do you net per hour? Thanks for the great series!

    Barry GysbersBarry Gysbers11 kun oldin
  • Very good! Thanks for sharing.

    Kyle GrimesKyle Grimes11 kun oldin
  • One thing that always strikes me in the videos, youre very young. how did you become the "point man" in your family so young on multi million dollar decisions. Seems like youre running the show and everyone else is just there lol

    mike poemike poe11 kun oldin
  • Many young people could take a lesson from you. Hard working, you do your homework, and you don’t act on impulse! Good for you Cole! Great role model!

    Bob McNelisBob McNelis11 kun oldin
  • Your business, your decision. None of us have a financial stake in your success.

    joel millerjoel miller11 kun oldin
  • I love these videos I am a numbers nerd

    R NR N11 kun oldin
  • It was great to hear your responses to viewer questions and comments. I appreciate your candor and humility.

    alejandro929alejandro92911 kun oldin
  • Cole you know your business best. You do what’s best for you. From a business perspective looks can be deceiving. Just because someone has a new truck and equipment doesn’t mean they are not sinking in their debt. Sounds like you’ve got a handle on your money. I was surprised to find out a well known farmer in my area borrows money every year against his farm just to have cash to run on.

    Jeff JonesJeff Jones11 kun oldin
  • I very much appreciate the honesty. This explains a lot of things you learn the hard way farming.

    Kevin NinemireKevin Ninemire11 kun oldin
  • Maybe with the extra cash flow, you can get a haircut!

    Shane BeckShane Beck11 kun oldin
  • Great explanation Cole

    Bill MansfieldBill Mansfield11 kun oldin
  • You are doing an awesome job explaining things to us. I'm not a farmer, but it's nice to see this industry.

    Danielle Hulme-LoweDanielle Hulme-Lowe11 kun oldin
  • Very informative and good lessons to be gleaned from content like this...keep it up.

    rusnscrusnsc11 kun oldin
  • By the time I caught up to this video there's already 3.3k comments. I don't have the energy to review over 3k comments so it's possible this has already been mentioned and responded to by Cole, but here goes. The land for sale 1. Abuts your farm. 2. Is adjacent the best yielding acreage you have. Wouldn't it be in your interest to buy the adjoining farm with good yield and sell non attached acreage with lower yield? The $ from the sold land could be applied to the mortgage of the new property which could be then paid off short term. After 3.3k comments I'm guessing Cole's head is spinning so if anyone else posited this same scenario and Cole responded feel free to jump right in & let me know the upshot.

    Tarbh NathracTarbh Nathrac11 kun oldin
  • Love this type of video, keep it up!

    Stephanie AdixStephanie Adix11 kun oldin
  • As a farmer and having a financial consulting business of my own i totally agree with you on the finance side of things, there have been many times in the last 10 years since I got out of school that buying land would have been nice, but never cash flowed for us either, i think alot of people forget about things like property taxes if the farm had buildings, having insurance on those and a myriad of other factors, it looks alot easier than it actually is in most cases, when you were reading the comments i knew exactly what you were going to say because i would have answered the same way. our farm is run in a very similar matter, to your guys operation we just put up 3 more bins last year and added a 20 ton crane in our shop to make overhauls on machinery easier, as my cousin went to school to be a heavy machinery diesel mechanic, we ended up leasing a S790 kind of like the larson's did and for us it made sense and allowed us time to look for something we really liked, while costing us less up front, and knew would fit into our expansion plans. Anyway Really like your financial videos, you give a good basic outline of everything, and I am excited for more farmhouse videos, me and my wife marvel at the potential of your place.

    jjhopp55jjhopp5511 kun oldin
  • I like watching you work. Plain and simple those are my favorite videos. Doing any kind of work

    Davey CrockettDavey Crockett11 kun oldin
  • How much do Government subsidies weigh in to your numbers?

    amber wheatamber wheat11 kun oldin
  • good analysis - thx!

    Tim KuehnTim Kuehn11 kun oldin
  • Thanks Cole for showing how your farm runs and the costs.

    Wallace LoanWallace Loan11 kun oldin
  • Is that an intake valve on the desk behind you? That thing is huge!! What's it off of?

    WilliamWilliam11 kun oldin
  • I didn’t comment on the other video but that does explain things better and it is yalls farm so I don’t get to help make your decision. But the only other thing I would consider and I considered this when I was doing yard work is cost to move your equipment etc. if you pass this 130acres that border your best ground but a little while later you do run across a little better price for the same acreage but now you have the time fuel and man hours to move your equipment not to mention it may not produce as well which means less money anyway. When I was doing yard work I would gain a yard I would try to market to that area and even gave a better deal to the original customer as well as the new customer if I gained customers next to each other. Not as much cash flow not as much overhead as a farm but just something to think about what would it take in man hours fuel etc to move that equipment 5-10 miles down the road and even if it was only an average loss of 2 bushel of grain an acre. The equipment is efficient when it’s harvesting grain not efficient head off of the combine and got to move it down the road at 20ish mph. I do still think you are making a sound decision based on what you mentioned but just something to think about

    Michael SteppMichael Stepp11 kun oldin
  • Love watching the finance part of farming so I can see what else is in farming

    Josh EricksonJosh Erickson11 kun oldin
  • Proverbs 22:7 , The rich rule over the poor, and the borrower is slave to the lender. The good book tells us to avoid debt, that's why my family and I have decided to live without debt.

    BlavaBlava11 kun oldin