Posted by GarrettFields on July 30, 2013 at 14:39:02 from (98.19.142.78):
In Reply to: Can it be done? posted by Joe Pro on July 30, 2013 at 11:36:37:
I am by no means a expert Joe but I firmly believe that at least you or your girlfriend should keep a good paying/good benefit job. I bought my farm in 06 at the age of 23. Just farmed 10 acres until last year because my job kept me 4 to 5 hundred miles from home 4 days a weeek, and I didnt have the time to handle any more ground. Last year I picked up 32 acres, and in 2014 im going to pick up another 120 for a total of 162. There is no way I would quit the RR for 160, a 180 or any amount under 500! Even then I would be reluctant to walk away mainly for the health insurance, But like I said if the wife keeps a good job that changes things. Even with older equipment(mostly junk that no one else would run in my case) you can run into some serious $ keeping them up, and there are some areas that you cant afford not to spend money, mainly planters, and combines/harvest equip. As far as hard numbers, I cant help you there. In my area ground rents for $75 to $100 a acre, and 150bu corn, and 40bu beans is considered a bumper crop, where as in other areas it takes a minimum of $300 a acre for rent, and 275bu corn and 60bu beans would be considered a average year. I sais all that to say this. Anything is possible, but I think in you case it would be easily attainable if your wife keeps her job and you farm! Good luck, I hope it works out for you!
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