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Michigan | When I started my dad and I had the home farm that was already under debt. He worked out for 9 years at a mediocre job and I worked full time farming. We steadily found rented ground and invested cash into equipment and a nice shop and because we were not in debt buying land we were able to secure an operating line that never limited more growth. If we had went out the gate and bought 100 acres of land we wouldn’t have been in a position to borrow operating money and instead of building a 4000 acre operation we would have been limited to the land we bought. Everyone is different with different opportunities and circumstances. We also farm in an area that although is marginal land we have more land rented than farmer owned and it’s a challenging area so if you are good at it you can be competitive. In 20/20 hindsight I could bought some “cheap” land at points but my plan was to grow the operation and I stuck to that plan. I may change my view on buying land now if this is the top and things pull back and opportunities arise but if not we will be just fine. | |
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10 years from now
