RE: borrowing money to buy land
Howler, you're absolutely right, there is no guarantee of income for a farmer, but that's part of the thrill, isn't it?
ParrotHead, didn't mean to ruffle any feathers. You're doing very well for yourself obviously. Different stages in life and I obviously didn't think before I typed.
I'm looking at an 80 in southern mo. It's 1400/acre and is about 50-60% timber and hilled where the surrounding five miles is flat. I'm going to sit the stand in the adjoining property Thanksgiving morning with my buddy. I haven't seen the portion of property that is currently pasture but I'm not sure how viable it would be to cash rent maybe 20-25 acres. I'm having trouble justifying a hunting property (even as solid as this is) that doesn't have the potential of paying for a good portion of itself in cash rent. Other than putting it in CRP or turning it to cropland (if it's even feasible at that remote end of the 80), thinning out the hardwoods (one time deal)... I'm not seeing much other income potential other than maybe getting a few dozen bales off the pasture. I sure as heck don't want to run cattle on it.