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| A really nice 160 field. $1.5 MILLION…. Nice land, irrigation should hit +140 acres? 3 phase. I planned out where a drying setup not 300 yards from buried 3 phase for irrigation. *assuming decent amperage for bin site* 30k storage, 10k wet bin, +500 bu per hour dryer.
I looked at reasonable custom tillage, planting, spraying, harvest, hauling to town. $4 corn +30 years if things go well. Then buying a $40k 4wd, +800 bu grain cart. *using redneck dump pit to wet corn bin auger on edge of field* $80k combine/heads, $40k one useable semi to market grain. *hopefully wet corn could be used for soybeans every other year at least. To reduce custom costs. But you need hired hand.
How can a person start out? When I started buying a 40, equipment was cheap. A bank I have been with for decades was needing lots of info to loan 700k.
I had never met loan guy. He started amused I would think they would loan to me at start. I got back by saying. “Well if I need the loan I will not have to bother you. As I am approved 2 blocks away for .95% less. Almost 1% on that kind of money matters. Plus no tax returns, records of assets…. I never even met loan officer. All over the phone.
But how could a 25 yr old with $50k to his name hope to get start? New equipment is crazy priced if $7 corn. | |
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Next generation farmers? How is it possible?
