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Posted on 6/19/17 at 3:14 pm to Junky
I can see that.
We have a family farm up in Nebraska. My uncle is the only one of 5 that farms. Neither of his kids farm, they moved to the city and have 0 interest in farming.
I think its about 700 acres total. Going to suck when that time comes. At least its a small community and the neighbors that helped my grandpa out a ton will get first dibs. Their operation has become massive. Like 5000 acres, they had three boys and all farm.
We have a family farm up in Nebraska. My uncle is the only one of 5 that farms. Neither of his kids farm, they moved to the city and have 0 interest in farming.
I think its about 700 acres total. Going to suck when that time comes. At least its a small community and the neighbors that helped my grandpa out a ton will get first dibs. Their operation has become massive. Like 5000 acres, they had three boys and all farm.
Posted on 6/19/17 at 3:18 pm to Junky
quote:
Cannot be said enough. I think the avg age is 55 or 65 - some obscene number.
If you want to start farming today as a renter, you will need 5 years of experience and $1 million of equity against a $2 million equipment loan and another $2 million revolving crop loan. That's a $5 million starter kit for a 3000 - 4000 acre operation. Which was big 20 years ago, and is just mid sized today. Your chances of going BK within 3 years are probably 50/50.
If you want to own your land one day, that's no problem. Just find someone to loan you $25 million. If you work your arse off and have extraordinary good luck, you will die on a tractor at about age 70 with everything about paid for. Your kids will hate your guts for being gone all the time. But your grandkids (who you probably hardly ever got to see) will think you were a really swell guy for setting them up with mailbox weed and condo money for life.
If this sounds like how you want to be remembered, then go for it.
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