Sorry guys, I should have clarified before that I am leasing the farm I'm on (25 yr lease), and I intended to lease out the other lands as well for the same length.
I'm in a protected area (Ottawa Greenbelt) that the government owns so they lease the lands to all farmers. I'd be paying $10-20/ac month in rent for the extra lands so it's not the rent cost that is an issue, it's the equipment/manpower/experience needed to work an extra 200+ acres.
I have a job in town... never inherited any money or had any help. I paid cash for all my equipment but I bought a tractor new (was a mistake, should have bought used...). However, I want to expand and eventually farm full-time. Because of my proximity to the city (less than 10 minutes), I'm in a good position to sell beef/lamb locally. In fact I already have buyers lined up, just through word of mouth, for the current livestock I have. This is what I want to aim for - direct sales.
The only way for me to expand into this is to take on more land. If I pass it by, another farmer will take it and I'll miss my opportunity.
I don't have much for grain storage, I'd have to rent space or keep in bins. I'm really not setup for grains at all so I know I would have to invest a lot to harvest and store.
It's certainly tough without a farming background because I had equipment passed down to me... I have to buy everything. Not an easy situation, so I was just curious how others managed growth without going too far into debt. I think renting out the lands and accumulating equipment slowly is my best choice.
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