Re: Re: Need some advice!

Posted by m.c. on February 22, 2002 at 17:35:05 from (63.82.131.131):

In Reply to: Re: Need some advice! posted by CJ on February 21, 2002 at 20:52:43:

Diversify! Same as with buying stocks. I't's all a crap shoot.You know the old saying,"don't keep your eggs in one basket". If the market dives on one particular stock, i.e."crop", you won't lose everything. You've got a lot of good advice here, I'd just add my two cents worth, if I was 20 again. This depends on where you live and how much time you've got to spend on the farm. If you're not too far north and have good, well drained soil, and can spend the time, this is what I'd do. First, just like everyone else has suggested, rent most of the acres to another farmer in area. He can at least pay the property tax if nothing else. Second , unlike the one guy who want's to kill trees, they are an excellent investment.Take a small portion of the property and plant geneticaly advanced black walnut, oak and cherry. Look at what the prices are for these hardwoods and veneers, now think what they will be in 25-30 years when they are ready to be harvested. you will only be 45-50 years old. Third, take another small portion, and plant pines, spruces, balsam, ect. These can be purchased yearly from the d.n.r or soil conservation district, depending where you live, for @$25 for 100 seedlings. These can be grown for christmas trees or for landscaping purposes. Think of all the new housing additions and office parks that suddenly spring up with new, tall pines or spruce trees. The landscapers make a fortune off of a mature tree, who bought it off someone like you ,maybe. Lastly, if you aren't going to do the heavy farming yourself, a smaller tractor, 20-30 hp should work. Lot's of old ones out there, wouldn't pay over $5000,00, and it better be in damn good shape. Well, that's what I might do, if I was 20 again. Good luck

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