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Re: asking advice again -Long post
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Posted by Mark from WI on March 21, 2006 at 18:24:49 from (69.11.249.219):
In Reply to: asking advice again -Long post posted by Dave from MN on March 21, 2006 at 08:21:33:
All anyone can say for certain without more information is that by renting you have zero risk. But on the other hand, you miss out on all the fun. If it is currently rented, can't you find out what sort of yield the current operator is getting? That times the (completely unpredictable) future price of the crop is all you need to calculate your profit... :-)
I tried renting my acreage at first, nobody wanted it. So I started farming it myself, and I wouldn't rent it out now, even if that paid twice what I make. Wouldn't have an excuse to play with tractors and other equipment almost as old as me.
If you just bought the land, you might consider continuing to rent it for a while, and learn what you can by watching. Just don't get in the way.
Whatever you do, make sure you talk to your local USDA office before planting any trees, you don't want to violate the DCP contract. Make sure they approve of your plans, they can also be a great source of advice, mine was!
MarkL
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