Author Topic: Ask Steve Dave Farm And Cow And Ranch And Tractor And Truck Related Questions  (Read 355914 times)

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Offline ben ji

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Is that cheap, expensive, or normal?
Seems expensive. I also don't understand how income calculation at all.
80 acres yielding 34 bushels per acre at $4 a bushel.  He leases it to someone else and gets 1/3 of the profit so around 3,590 to him per year it is farmed. It lays fallow 1/3 years so his yearly avg is around $2400.

Now that I just did the math again I'm wondering if he even accounted for input costs (seed/fertilizer/harvest/ etc). This is looking even worse than I thought.

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Offline michigancat

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Is that cheap, expensive, or normal?
Seems expensive. I also don't understand how income calculation at all.
80 acres yielding 34 bushels per acre at $4 a bushel.  He leases it to someone else and gets 1/3 of the profit so around 3,590 to him per year it is farmed. It lays fallow 1/3 years so his yearly avg is around $2400.

Now that I just did the math again I'm wondering if he even accounted for input costs (seed/fertilizer/harvest/ etc). This is looking even worse than I thought.

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got it....yeah probably a bad idea. another thing to consider is how close was the land that went for 2600? Has he seen it or is he basing his yield estimates off of historical data? I know where I grew up you can have great land like across the road from absolute dogshit land.

Offline _33

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He should put cows on the land.   :th_twocents:

Offline _33

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Is that cheap, expensive, or normal?
Seems expensive. I also don't understand how income calculation at all.
80 acres yielding 34 bushels per acre at $4 a bushel.  He leases it to someone else and gets 1/3 of the profit so around 3,590 to him per year it is farmed. It lays fallow 1/3 years so his yearly avg is around $2400.

Now that I just did the math again I'm wondering if he even accounted for input costs (seed/fertilizer/harvest/ etc). This is looking even worse than I thought.

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got it....yeah probably a bad idea. another thing to consider is how close was the land that went for 2600? Has he seen it or is he basing his yield estimates off of historical data? I know where I grew up you can have great land like across the road from absolute dogshit land.

Isn't it the same land as the $2600 but the price has dropped in the last couple years?

Offline ben ji

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Is that cheap, expensive, or normal?
Seems expensive. I also don't understand how income calculation at all.
80 acres yielding 34 bushels per acre at $4 a bushel.  He leases it to someone else and gets 1/3 of the profit so around 3,590 to him per year it is farmed. It lays fallow 1/3 years so his yearly avg is around $2400.

Now that I just did the math again I'm wondering if he even accounted for input costs (seed/fertilizer/harvest/ etc). This is looking even worse than I thought.

Sent from my Nexus 6P using Tapatalk



got it....yeah probably a bad idea. another thing to consider is how close was the land that went for 2600? Has he seen it or is he basing his yield estimates off of historical data? I know where I grew up you can have great land like across the road from absolute dogshit land.

Isn't it the same land as the $2600 but the price has dropped in the last couple years?
Yes, it was the same land that was valued at $2600 per acre in 2015.

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Offline michigancat

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Is that cheap, expensive, or normal?
Seems expensive. I also don't understand how income calculation at all.
80 acres yielding 34 bushels per acre at $4 a bushel.  He leases it to someone else and gets 1/3 of the profit so around 3,590 to him per year it is farmed. It lays fallow 1/3 years so his yearly avg is around $2400.

Now that I just did the math again I'm wondering if he even accounted for input costs (seed/fertilizer/harvest/ etc). This is looking even worse than I thought.

Sent from my Nexus 6P using Tapatalk



got it....yeah probably a bad idea. another thing to consider is how close was the land that went for 2600? Has he seen it or is he basing his yield estimates off of historical data? I know where I grew up you can have great land like across the road from absolute dogshit land.

Isn't it the same land as the $2600 but the price has dropped in the last couple years?
Yes, it was the same land that was valued at $2600 per acre in 2015.

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but it was sold as 320 acres in 2015? so like, what if he gets the shitty 80 acres?

Offline ben ji

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Is that cheap, expensive, or normal?
Seems expensive. I also don't understand how income calculation at all.
80 acres yielding 34 bushels per acre at $4 a bushel.  He leases it to someone else and gets 1/3 of the profit so around 3,590 to him per year it is farmed. It lays fallow 1/3 years so his yearly avg is around $2400.

Now that I just did the math again I'm wondering if he even accounted for input costs (seed/fertilizer/harvest/ etc). This is looking even worse than I thought.

Sent from my Nexus 6P using Tapatalk



got it....yeah probably a bad idea. another thing to consider is how close was the land that went for 2600? Has he seen it or is he basing his yield estimates off of historical data? I know where I grew up you can have great land like across the road from absolute dogshit land.

Isn't it the same land as the $2600 but the price has dropped in the last couple years?
Yes, it was the same land that was valued at $2600 per acre in 2015.

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but it was sold as 320 acres in 2015? so like, what if he gets the shitty 80 acres?
It's a 160 acre section my grandfather used to own. My aunt and uncle split it while dividing the estate. My uncle now wants to sell his 80 acres and my dad wants to buy it.

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Offline ben ji

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Text I just got from my mom (they have had separate finances for the last 15 years due to crap like this)

Has dad said anything about buying more farmland? Phil has offered to sell his to Rita and/or dad and dad thinks it is to good of a deal to pass up.

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Offline michigancat

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ah hell he's a grown man in late middle age just let him do it

Offline pissclams

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mind’s eye this crap you guys-
a big warehouse, think costco size.  inside said warehouse- layers and layers of crops being nourished by hydro.
this is a new future of farmers who were bred in the laboratory, not western kansas (sry tod).  no worries about hail storms


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Offline DQ12

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mind’s eye this crap you guys-
a big warehouse, think costco size.  inside said warehouse- layers and layers of crops being nourished by hydro.
this is a new future of farmers who were bred in the laboratory, not western kansas (sry tod).  no worries about hail storms
plants need sun, dinkus


"You want to stand next to someone and not be able to hear them, walk your ass into Manhattan, Kansas." - [REDACTED]

Offline meow meow

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costco is what, maybe 1 acre  :lol:

Offline pissclams

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costco is what, maybe 1 acre  :lol:
that’s why the layers are stacked


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Offline meow meow

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so like 5 acres of corn then?

Offline pissclams

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mind’s eye this crap you guys-
a big warehouse, think costco size.  inside said warehouse- layers and layers of crops being nourished by hydro.
this is a new future of farmers who were bred in the laboratory, not western kansas (sry tod).  no worries about hail storms
plants need sun, dinkus
did you go to k state? because sometimes i’m not sure
we design seeds everyday, dipshit
new seed- no sun needed,  or water.  seriously some people just want to live in a cage, others like elon musk and I dream bigger


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Offline pissclams

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so like 5 acres of corn then?
see above


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Offline pissclams

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tap out noted


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Offline Rage Against the McKee

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Plants grown indoors don't taste very good. We just don't have the seed technology to make that work yet.

Offline sys

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It's a 160 acre section my grandfather used to own. My aunt and uncle split it while dividing the estate. My uncle now wants to sell his 80 acres and my dad wants to buy it.

you should have mentioned that it was your family's land from the start.  of course your father should buy it.
"experienced commanders will simply be smeared and will actually go to the meat."

Offline ben ji

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It's a 160 acre section my grandfather used to own. My aunt and uncle split it while dividing the estate. My uncle now wants to sell his 80 acres and my dad wants to buy it.

you should have mentioned that it was your family's land from the start.  of course your father should buy it.
He already has 640 acres that has the family home on it (mainly pasture). This is a couple of miles down the road and my grandfather did not own it until the 80's when my dad had moved to the big city with his computer job. He has no emotional connection to the land.

I am worried that he will put the main farm that does have emotional value to our family and lose that.

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Offline steve dave

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when I inherit a shitload of western ks land the first thing I'm going to do is sell it to the areas rich land baron. it'll include all of the cows, tractors, houses, the works. and it's a take it all or nothing deal. also he has to box up and ship to me all my baseball cards that are in the basement of one of the houses (these are not part of the deal obv). and I know all the good ones in there so he better not try to swipe any. I've got this thing planned out.

Offline 420seriouscat69

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Quote
Kids,

What are your thoughts.

I need to make a decision by this weekend, an opportunity to buy some good land at below market price.

Here are the details. 

===============================

$2,675 / acre  ($856,000 for 320 acres) Sept 23, 2015.

Current is $1,350 / acre.

===================== 

I've been chatting with banker.  35% down needed on farm loans, however can use existing land as collateral.

Interest rate is 5.18%.  80 x 1350 = $108,000

Crop est $2,400 / yr avg (2 crops in 3 yrs // 35 bu acre, wheat, 26 acres share, $4/bu).


COSTS / YR:

I am calculating about $5,600 / yr interest expense.
There is also property taxes, est $1,000.
Plus principle repayment about $5,400 / yr.

I am estimating cash flow needs for purchasing the property at about $12,000 / yr.

12,000 - 2,400 = $9,600 / yr additional monies needed to buy the property.  (Assuming using farm as collateral).


===============================


What do each of you think ?

Dad
That's an amazing deal, Ben Ji. My grandparents farm went for the initial cost per acre your dad first stated. http://goEMAW.com/forum/index.php?topic=39805.msg1771877#msg1771877 He should jump on that if he likes the responsibility for that type of stuff.

Offline ben ji

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Wacky, this is western KS. They don't get alot of rain there, no turkeys will be drowning in the "Creek".

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Offline 420seriouscat69

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I ran into a million Pheasants with my car when I worked out in Western Kansas. I figured some rich game hunter would eventually buy the land from him for double that. That's what happened with my granadpas land. Some rich husker that drives down from Nebraska to hunt now. If he's thinking of something like that, it could work.

Offline yoga-like_abana

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when I inherit a shitload of western ks land the first thing I'm going to do is sell it to the areas rich land baron. it'll include all of the cows, tractors, houses, the works. and it's a take it all or nothing deal. also he has to box up and ship to me all my baseball cards that are in the basement of one of the houses (these are not part of the deal obv). and I know all the good ones in there so he better not try to swipe any. I've got this thing planned out.
sd you should start posting more again. I forgot that you are pretty funny