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mercer county, il | I’d agree with this. The returns on rented ground make it tough to count on a lot of cash flow for owned ground.
My advice would be to buy “fixer uppers” and don’t be afraid to sell if the $$$ makes sense. I’ve owned several farms, and sold some as well. Sometimes it’s best to swallow your pride and let something go if it makes economic sense.
At one point I owned 400 acres, that nowhere near cash flowed. Did a lot of work, now I own 170 ish that cash flow pretty well. And that’s a farm that was bought in 2019. My situation is a bit different too, sooner rather than later I’ll have to come up with the cash to buy out the 350ac family trust, and at the time, it made sense to kinda minimize things and keep the cash flow/war chest building.
We’re about the same age, but I think my kids are older, and I still have a day job. I think we have essentially the same goals. | |
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Farm economics from below
