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Dougherty, IA | 250 ac is a good start. I am glad you have that base to build around.
I try to figure $100 per ac profit on rented ground, so you are looking at $25,000 / 2 = $12,500 for you. That isn't enough. Now I am not sure what your custom hay business makes, but you need to find ways to make the farm more profitable, grow it, or keep your job in town....preferably all 3.
I am kinda figuring that a guy in the corn belt needs to work the town job until he is renting 600-800 acres. At that point, you can add livestock, custom work, or other services to your operation to make it a full time job that is competitive with what other established farmers have. Remember, if you want to buy ground someday, it won't pay for itself, ever. So you will need income from other sources to help pay your land note, and after all that you will still need money to live off of.
Is there any way you can add to your custom business, add livestock, or something else to the operation to make it generate more income?
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Help with starting a farm partnership. Please and thank you.
