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re: Official OB Farm Thread
Posted on 6/19/17 at 3:18 pm to Junky
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.
5
Posted on 6/19/17 at 4:37 pm to No Colors
Methinks you have a pretty good clue about how this works. I've farmed, worked in Research and Extension, managed farms and sold farms. I've also done some ag lending.
There's lots of opportunity in Agriculture if you want it.
There's lots of opportunity in Agriculture if you want it.
Posted on 6/19/17 at 4:51 pm to No Colors
Do you know anyone that farms organic corn?
I've been looking into doing this
I've been looking into doing this
Posted on 6/19/17 at 5:00 pm to No Colors
quote:
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.
Well thats freaking depressing.
My question is, and i believe every word you say here...but it's such an iffy bidness, why is land so astronomical?
Posted on 6/19/17 at 6:25 pm to No Colors
Nail on Head 
Posted on 6/20/17 at 1:41 pm to No Colors
quote:
Your kids will hate your guts for being gone all the time. But your grandkids (who you probably hardly ever got to see)
Hold on now. We're talking about farming, not working on a pipeline. Sure you'll put in some long hours for a few months in the summer. But you'll also have the entire winter (hunting season)off, wet days, idle days when you've laid your crop by and so on. Just about everybody I know is a farmer. I would trade their hours for my 8-5 any day.
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