Posted by MarkB_MI on February 25, 2014 at 03:12:02 from (75.198.2.56):
In Reply to: $ per acre posted by Whiskey Bent on February 24, 2014 at 18:41:33:
You use the expression "paid and clear" as if the cost of land is free if you didn't borrow money to buy it. NOT TRUE! If you're paying cash, your cost is what that money could earn in a different investment. Interest rates are low right now, but they could go up in the near future. And high interest rates can hurt property values while increasing the cost of a farm operation. If you already own the land, your cost is what you could get renting it to someone else. Or you could sell that property (farmland prices are a historical high) and invest the cash elsewhere.
Same thing with farm equipment. Just because it's paid for doesn't make it free.
It's very optimistic to think you can make much money raising grain in a small operation. Better to look at specialty crops like vegetables. Of course vegetables are a LOT of work, which is why folks don't like to raise them.
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