If a farm next to yours -- a piece of ground that you've been yearning to get your hands on -- comes up for rent, how far would you go to get it? Would you go far enough to make it a financially losing venture, even temporarily? That's a question farmers are talking about these days over at Agriculture.com. Makes for a tough road for young and beginning farmers, but some older, more established farmers say they'd consider it under the right circumstances. So, what do you think?
I would do it as long as it was a year to year thing it allows you to get your foot in the door. I’m a young guy but I’m not afraid to stick my neck out, if I fall off the saddle I have a long time to recover. But I dont know to many bankers that would support the idea.
It all depends on if you will get the chance in the end to buy the property otherwise it's a losing game or if the ground rents high and is going to be sold in the next three years why not wait and save your money and buy it then, because if your losing money renting you would be better to save it to put a down payment on it. It all depends on your personal judgement i don't like to farm a piece of ground just to say yeap i farm that, even though theirs no money in it, i farm that. That sounds like a recipe for bankruptcy if you are playing that high stakes game. You spend money to make money, not spend money to lose money that's what my dad always said, he also said buying land is better becasue renting you might never end up with that farm but that also depends on your relationship with the owner or owners in the end, if you treat them good you will get that treatment back in the end.
BUYING IS ALWAYS better . i wouldnt stick my neck out for rented land or get in a bidding war on rents but i would war it up for the sale price. i ve had to many rented pieces that get pulled out from you once you get them into shape . we are always looking to buy good land . and rent only if we have to if the price and loaction is right .