Posted by ss55 on July 13, 2018 at 05:34:49 from (63.147.218.40):
In Reply to: Buying a Hobby Farm posted by StrikeForce on July 12, 2018 at 20:49:25:
Crunch the numbers, be realistic about what your markets will buy, market prices, and your production costs. Plan in at least two years of disappointing yields out of every ten. Crop insurance may reduce your risk. Are there any Corn Suitability Ratings available for the land?
Don't count on making any money renting out a farm house. Better to demolish it or move it off the property to reduce your property taxes or sell it as an acreage to reduce your debt - probably the best option.
In the Midwest, most farmland can't generate enough income from cash grains alone to pay off a 30 year mortgage for the land. Renting some land as a hobby farm may be lower cost and much less risky than buying farmland.
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Today's Featured Article - Usin Your Implements: Bucket Loader - by Curtis Von Fange. Introduction: Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he rea
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