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Any families on farm land?

Posted by on Aug. 30, 2012 at 11:36 PM
  • 16 Replies
I have been looking at houses. I found one I adore today...and can afford. It is on 40 acres. 4 are the house, stables, corral, and yard....the remaining 36 are alfalfa fields with water rights. They are currently farmed by the homeowner... I know nothing about farming so I would lease it out. A neighbor would be interested in taking it over.

Is that feasible? Profitable? Practical? Is it better to not lease and hire workers? I am so lost, lol.

I am a former city girl living in a resort town who wants to move 10 miles south and have horses, lol. This is ALL new.
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by on Aug. 30, 2012 at 11:36 PM
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Replies (1-10):
kquad
by Member on Aug. 31, 2012 at 8:30 AM

My parents are farmers and I grew up on a farm.  They have now retired and are cash renting the farm land.  My mom is slowly trying to teach me everything I need to know in case something happens to her (you don't get it from osmosis LOL) 

They farm field corn and soybeans. For them they could choose to cash rent (get set payment at the beginning of the season) or go 50/50.  With 50/50 the 'renter' does the work, you own the land and expenses and profits are split 50/50.  The second option has more potential and also more risk.  With cash rent for corn and beans you have to be careful and make sure and choose someone who will not abuse the land. Corn takes a lot of nitrates our of the soil so you have to rotate crops each year.  corn one year, beans the next on the same field.  A bad renter will come in and plant the same thing every year maximizing profit then give up the land when it's close to worthless...... Not sure about alfalfa

oredeb
by on Aug. 31, 2012 at 11:08 AM

 oh yea go for it bramble!!! the most acreage we've ever had was 5 acres, with chickens, bunnies, goats, pigs, and lots of gardens,  and we leased out a few of the acres,  i sure do miss it! how is the water? well? how is it in the summer?  what year is the house? how many outdoor specits(sp), how is the water in the house, slow or fast? does it flood in the winter, andy tornados? basement? how many bedrooms, bathrooms, bugs?   got a picture? i love looking at houses!  what state are you in? are you handy at fixing things?

TxMommyOfBoys
by on Aug. 31, 2012 at 3:49 PM
2 moms liked this
Swear to god I thought you were talking about the game on Facebook.



*hides*
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chic2chic
by on Aug. 31, 2012 at 4:33 PM

Wow, what a terrific set up.  I think it's great you're leasing out the land.   We live on about four acreas and my children basically have free reign of the land.  I think it's good for them - hands-on science.  My kids have grown vegetables, explored the various flora/fauna that have made their home on our land.  They love it.  I think your kids will too.

oredeb
by on Aug. 31, 2012 at 4:43 PM

 hahahahahaha

Quoting TxMommyOfBoys:

Swear to god I thought you were talking about the game on Facebook.



*hides*

 

BramblePatch
by on Aug. 31, 2012 at 5:41 PM
http://www.realtor.com/realestateandhomes-detail/420-Gannett-Rd_Bellevue_ID_83313_M28983-28033

Ignore the price...the owner, a widow, is,willing to take ALOT less.


Quoting oredeb:

 oh yea go for it bramble!!! the most acreage we've ever had was 5 acres, with chickens, bunnies, goats, pigs, and lots of gardens,  and we leased out a few of the acres,  i sure do miss it! how is the water? well? how is it in the summer?  what year is the house? how many outdoor specits(sp), how is the water in the house, slow or fast? does it flood in the winter, andy tornados? basement? how many bedrooms, bathrooms, bugs?   got a picture? i love looking at houses!  what state are you in? are you handy at fixing things?


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oredeb
by on Aug. 31, 2012 at 7:50 PM

 looks pretty nice, doesnt look like a farm! nice swimming pool, not very many trees though, does it get hot there? and it has a underground tank? they dont allow those over here anymore, do they where you are? they cost to get rid of, What is GFA? cost a lot to heat? no wood stoves? can you  look at the electric bill for a few months? is the water well only? how many gpms?

looks like a fun house!! nice big kitchen,  what is water rights? how much does propane cost a month, hows the roof, when last put on?

how much will she sale it for to you?

BramblePatch
by on Aug. 31, 2012 at 9:51 PM
It gets mid 90's in July and August. Its 14 miles south of where I live now. Lots of snow, but since its 1000 feet less elevation from where I live now, not as bad.

Water is well. And it is septic. Also propane. The property has water rights which means you own all the well access. The fireplace is wood. GFA is gas forced air.

The lack of trees bugs me, too. I would put in a small orchard but that would takes years of course.

Its 7 miles to town, so not bad....not as central to our county as I would like. But I could get it in the 6s...and if I got that house with less than 1 acre in my current town, I would pay 800,000 to 1.3 million.

I asked the realtor for the bills....but won't get them until after the weekend.


Quoting oredeb:

 looks pretty nice, doesnt look like a farm! nice swimming pool, not very many trees though, does it get hot there? and it has a underground tank? they dont allow those over here anymore, do they where you are? they cost to get rid of, What is GFA? cost a lot to heat? no wood stoves? can you  look at the electric bill for a few months? is the water well only? how many gpms?


looks like a fun house!! nice big kitchen,  what is water rights? how much does propane cost a month, hows the roof, when last put on?


how much will she sale it for to you?


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Boobah
by Nikki :) on Sep. 1, 2012 at 7:20 AM
Oh wow! What a dream! If I could afford it I definitely would. No experience/advice here, just wanted to say good luck! It is beautiful!
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poshihal
by on Sep. 1, 2012 at 7:22 AM
bump


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