I think as a starting point you should ask yourself if you can make the payments based on what local cash rent is paying based on current interest. THEN ask yourself if you can make the payments on HALF the cash rent with DOUBLE the interest rate. I've got a feeling that we're going to be heading there; mabey in the not so distant future. If you can't handle that you'd be best to leave it for someone else. If you can handle that, mabey then you go ahead. After you've gotten settled in then you can start looking at growing more hay, etc or whatever you're interested in. I would tend to think that throwing another 200 acres worth of hay onto the local market might not be such a wise idea all at once. It takes time to build up a list of good reliable customers. Something that's more easily done over a period of time. Also gives you time to grow into the problems you ~will~ encounter. Laying down 50 grand or 250 grand on crop inputs without a whole lot of experience will break you VERY quickly if there's some small screwup.
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Today's Featured Article - On the Road with Dave Gohl: Auction Musings - by Dave Gohl. I was thinking the other day about all the auctions I've been to in the last few years. There've been many. Some have been very good, some have been well, disappointing to say the least. But no matter how good or bad auctions may be, we always seem to stay until the item we've come for or are interested in is on the block. I've been to some auctions near and far. I think the furthest has been the Two Cylinder 7 in the Amana Colonies last year. Lots of stuff, lots of people. I've also atten
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