I dont want to lease it or sell it, I do not have enough experience to farm on my own as I am in early 20's and also have no capital to invest at present as I'm just outta college, but what options do I have, anyone who is experienced tell me please?
2007-05-03 22:50:20 · 18 answers · asked by Anonymous in Business & Finance ➔ Investing
Yes there is a house which I am living in. Land is good condition, half and half tillage and grazing. It is rented at the moment but I want to do something with it myself, farm buildings are in ok condition. It is located in midlands Ireland. I have no knowledge of what grants I could apply for...sorry for limited info earlier
2007-05-03 23:36:16 · update #1
You could give it to me:)
2007-05-03 22:52:02 · answer #1 · answered by level h 2 · 0⤊ 2⤋
Why don't you rent out some of the fields to nearby farmers so you have something small and manageable untill you get on your feet?
Dealing with a very small farm will be much easier and give you time to consider your long term plans while having an income from the land which is doing nothing.
If you want to carry on as a farm why not hire a farm manager to run it for you short term and watch his every move to learn as much as you can.
Start to look into government grants now, it's a very lucky farmer that doesn't rely on them heavily.
Look to the future, and i mean what is the up and coming tends where you will be making good long term profit, things like going organic, farm shopping, etc.
You could consider opening it to the public at certain times or offer working holidays, they pay YOU to work on the farm, how good is that?
Get professional advice, get the soil checked for an idea of what can be grown and don't discount anything such as growning vines for wine, paintballing, quad racing, go into it with an completely open mind.
Think outside the 'farming' box, think long term, think possibilities and enjoy, i just wish it was me in your place.
2007-05-03 23:05:19 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If the farm isn't too far away from a big town you could open it to the public. People love to see animals and will pay. Then once you have saved up a bit more you can get a some more animals, maybe some play equipment and make more money. You don't need that much to start out tho. Just some pens, some animals and maybe have a tea and coffee stand. You may find local farmers would be happy to help and their wives may enjoy baking cakes for the tearoom.
2007-05-03 22:56:44 · answer #3 · answered by LoveBeingAMum 5 · 0⤊ 0⤋
listen to me not everyone else....with a small investment you can plant pine trees depending on the type you choose it will take 30 - 40 years for the mto be big enough to sell but your retirement will be set if you plant enough..i think aroundmy area its liek 50$ for 1000 trees or something liek that since this was a farm the soil is probly great and you will have tremendous growth. i dont know for sure but i heard its liek having 20%apy of you inital investment over the next 30 years..ask a professional around your area for the best type to plant...even if you can only do 2 or 3 thousand at a time this is the best to do with your land and money and in 30 years you and your family will not regret it
2007-05-03 23:06:01 · answer #4 · answered by edmoney 2 · 0⤊ 0⤋
If you sell it, you will never have a farm again, and land always goes up in value over time and you will probably spend the money..
Lease it out for a few years to cover costs until you can get your life in order and see if you really want the farm in the future.
2007-05-04 04:34:24 · answer #5 · answered by bob shark 7 · 0⤊ 0⤋
You could sharecrop. Allow a neighboring farmer to farm the land. The farmer would pay the property taxes and you would get a certain percentage of the profit they realize from the sharecropping. What percentage? You would have to find out what is customary for the area.
You didn't say if there is a house on it. If there is a house, you would retain that for your own use.
By allowing someone else to farm it would tend to keep the weeds under control.
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2007-05-03 23:00:11 · answer #6 · answered by Robert L 7 · 0⤊ 0⤋
You don't say what sort of farm but, I would be looking at living in the house ( if not to far from all that you need now eg schooling) and leasing the land as a whole or in parcels for other peoples amimals eg Gracing for horses and cows
2007-05-03 22:56:27 · answer #7 · answered by Shaz 4 · 1⤊ 0⤋
Give us a bit more info here. Where are you? How much land? What farm buildings are there? Is there a habitable farm house? Is it a livestock or arable farm? There are many options open, but more info if you want genuine help.
2007-05-03 22:57:41 · answer #8 · answered by jet-set 7 · 1⤊ 0⤋
You could lease it to people who have experience with farming. Long-term lease would be like renting for them and it would give you a monthly income while still keeping the farm in YOUR name. If you decide to do this...have an attorney draw up contracts...that way if a tennant becomes a problem, you will have legal support.
2007-05-03 22:55:55 · answer #9 · answered by Anonymous · 1⤊ 1⤋
Even though you said you don't want to sell it, selling it may be the best option... especially as you have little farming experience..
2007-05-03 22:53:58 · answer #10 · answered by Evangelos 2 · 2⤊ 1⤋
Get a business partner who will get a share of the farm.
Or get a manager to run it who has knowledge.
You can sell some of the land to get capital.
2007-05-03 22:57:53 · answer #11 · answered by laylafletcher 3 · 0⤊ 1⤋