I think as a starting point you should ask yourself if you can make the payments based on what local cash rent is paying based on current interest. THEN ask yourself if you can make the payments on HALF the cash rent with DOUBLE the interest rate. I've got a feeling that we're going to be heading there; mabey in the not so distant future. If you can't handle that you'd be best to leave it for someone else. If you can handle that, mabey then you go ahead. After you've gotten settled in then you can start looking at growing more hay, etc or whatever you're interested in. I would tend to think that throwing another 200 acres worth of hay onto the local market might not be such a wise idea all at once. It takes time to build up a list of good reliable customers. Something that's more easily done over a period of time. Also gives you time to grow into the problems you ~will~ encounter. Laying down 50 grand or 250 grand on crop inputs without a whole lot of experience will break you VERY quickly if there's some small screwup.
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Today's Featured Article - Upgrading an Oliver Super 55 Electrical System - by Dennis Hawkins. My old Oliver Super 55 has been just sitting and rusting for several years now. I really hate to see a good tractor being treated that way, but not being able to start it without a 30 minute point filing ritual every time contributed to its demise. If it would just start when I turn the key, then I would use it more often. In addition to a bad case of old age, most of the tractor's original electrical system was simply too unreliable to keep. The main focus of this page is to show how I upgr
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