80 acres enough? Based on what you are telling us? A small income to supplement another job? I would give you a tentative yes because I do it. I am a middle aged CPA with my own practice. It pays the bills. The farm generates a positive cash flow each year if I do not count in my constant equipment purchases. I tend to buy older equipment with relatively stable values and then religiously sell it when I am done with it for at least what I paid for it. Nothing rusts in the fence rows here. For this reason I do not get too excited about factoring in equipment cost expense (depreciation) when calculating if I am making money. I also don't factor in the cost of the land. Taxes and insurance yes, purchase price no. I just use operating costs against operating expenses and I always come out ahead. I will also add that I do almost 100% of my maintenance and repairs.
From someone who is 11 years ahead of you on the timeline of your plan, let me tell you that time is what will be your biggest issue. It takes a lot of man hours. In order to make it cost effective, you need to really work it yourself and have family working with you. Even so, don't expect riches other than what you take away from the experience.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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