Posted by JDseller on August 15, 2012 at 02:00:18 from (208.126.196.144):
In Reply to: Re: farm work posted by LAA on August 14, 2012 at 18:56:35:
LAA: I am in North-east Iowa. There are not any little pastures to rent in my area. What little pasture is still in grass will rent for $150 acre and have 3-4 guys fighting over it. That pasture will sell for $5-7K per acre. The good farm ground will rent for close to $500 per acre and sell for 10K plus(Top I have seen for farming is $14900 per acre) There are just about zero small tracts here that will sell cheap enough to buy and farm.
There is a 28 acre farmlet with only 12 acres of sandy ground for sale close to me. Smaller 30 year old ranch house that needs siding and windows plus furnace. One metal shed. Asking price??? $295,000. There are three guys bidding on it right now. So far they are 45K over the listed price. They are having their own little silent auction. They all are in their 50s and have sold larger farms and want to park some money. So do you want to try and pay for a 300K property with 12 acres of sandy soil???
There is a neighbor that is going to help his boy start farming this next crop year. He is only going to have him pay $300 an acre rent. The son owns ZERO equipment and the father has rented the farm for 10 years and has very little equipment left himself. I think the both guys are going to loose their butts. Rent+inputs+fuel+equipment rent/payment= Zero profit.
As for the off farm jobs. Around here there a few high paying jobs in Cedar Rapids or Dubuque. To get them you are going to need a college degree and some experience. The regular blue collar type job around here max out at $15-17 and hour. You are talking about Oil rig jobs. We don't have those type around here. Also you have higher value crops per acre in the pecan trees you are talking about.
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