Posted 5/1/2021 11:10 (#8981710 - in reply to #8980973) Subject: RE: Percentage with young renter ...
Lost1 - 4/30/2021 21:17
I have a some what neighbor who I'd like to work with as a some what exit slowing down plan. Life in the last 3 years has been fast changing with many changes all of which for the better but it's a lot fast! Any ways i'm at 0 rented ground "part time" off farm job and would like to work with this young man on renting him some acreage. He doesn't have much in way of equipment or money but has a million dollars worth of ambition and work ethic. I'd like to get him onto some of my ground (46 acres being a whole field near him) and am thinking of going on a percent deal with him to get him going. I am wondering how to go about it, Cheap rent, and he floats rest, cheap rent and we split crop. How would his crop insurance look if we do a percentage clear through? Also if he has a loan on crop would I need to be on loan if on percentage? Also if anyone has any good ideas on how to go about this or have went through this and have 2 cents to throw in i'd appreciate it!
As I get a little younger every yr..
I realize the lost art of real education.
Basically I’m going to use you in a way that I’m going to greatly benefit but along the way I’m going to show you how I do it and the ultimate goal is to have you in charge.
There’s incentives to get someone started. Talk local agency/farm tax planner.
The education that you acquired is worth alot.
That is the real value here.