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NEIA | I started myself without any family money or land. The key thing you've got is opportunity. That's what I had. You're young, and I imagine driven. You will succeed if you have the determination. You don't need the newest equipment but you do need quality stuff that will get the job done and done right. If you have the trucking company, put in a few extra loads with the equity you have in your truck and take that money and hire the planting or harvest done. It's kind of like owning the good equipment but not. You're making the equity in the truck pay for planting or harvesting. Make a deal with Gramps renting his equipment. It may be better for him tax wise. Also don't spread yourself too thin. Make sure if you hire it done that you are riding in the combine and studying yield Maps in the offseason to make sure you're getting the crop you need. You will have a lot of money invested in both the trucks and the crop. Start losing money on either one and you will go backwards fast. Employees are great if you can manage them, but they will also bleed you dry if you can't. The key thing here is, you have an opportunity many don't have. Be thankful for that even if it is not the # of acres want. Run with it! | |
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How is a young farmer going to make it?
