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I need some serious $ making ideas

tncattle

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We have the chance to live on a farm and eventually buy it in three years. At the end of the three years we will need $75K which we can get from selling the house we live in now, we'll rent it till then. The problem is we need to do a lease & purchase option now but right now I can't come up with any workable ideas to generate around a $80K from this farm on a yearly basis. It's 100 acres and about 65 of that is open pasture land. It was used as a dairy by Mennonites for around 25 years up till about 2000. It has great infrastructure (buildings, grain & feed bins, commodity shed, etc.) 15 Acres is in Alfalfa and the rest is grass--good soil. I know without seeing it it's hard to give good advice but I'm having serious brain cramps and we (wife, me three children) love this place and want to make it our home. I usually wouldn't post anything like this but I'm trying everything I can think of. If you have questions that may help clarify please ask.
 

john250

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tncattle":3v28902o said:
We have the chance to live on a farm and eventually buy it in three years. At the end of the three years we will need $75K which we can get from selling the house we live in now, we'll rent it till then. The problem is we need to do a lease & purchase option now but right now I can't come up with any workable ideas to generate around a $80K from this farm on a yearly basis. It's 100 acres and about 65 of that is open pasture land. It was used as a dairy by Mennonites for around 25 years up till about 2000. It has great infrastructure (buildings, grain & feed bins, commodity shed, etc.) 15 Acres is in Alfalfa and the rest is grass--good soil. I know without seeing it it's hard to give good advice but I'm having serious brain cramps and we (wife, me three children) love this place and want to make it our home. I usually wouldn't post anything like this but I'm trying everything I can think of. If you have questions that may help clarify please ask.

Fence?
 

tncattle

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john250":22thulek said:
tncattle":22thulek said:
We have the chance to live on a farm and eventually buy it in three years. At the end of the three years we will need $75K which we can get from selling the house we live in now, we'll rent it till then. The problem is we need to do a lease & purchase option now but right now I can't come up with any workable ideas to generate around a $80K from this farm on a yearly basis. It's 100 acres and about 65 of that is open pasture land. It was used as a dairy by Mennonites for around 25 years up till about 2000. It has great infrastructure (buildings, grain & feed bins, commodity shed, etc.) 15 Acres is in Alfalfa and the rest is grass--good soil. I know without seeing it it's hard to give good advice but I'm having serious brain cramps and we (wife, me three children) love this place and want to make it our home. I usually wouldn't post anything like this but I'm trying everything I can think of. If you have questions that may help clarify please ask.

Fence?

are you asking if it has fence? 70% does and the rest would be easy.
 

1982vett

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tncattle":181qtqfu said:
We have the chance to live on a farm and eventually buy it in three years. At the end of the three years we will need $75K which we can get from selling the house we live in now, we'll rent it till then. The problem is we need to do a lease & purchase option now but right now I can't come up with any workable ideas to generate around a $80K from this farm on a yearly basis. It's 100 acres and about 65 of that is open pasture land. It was used as a dairy by Mennonites for around 25 years up till about 2000. It has great infrastructure (buildings, grain & feed bins, commodity shed, etc.) 15 Acres is in Alfalfa and the rest is grass--good soil. I know without seeing it it's hard to give good advice but I'm having serious brain cramps and we (wife, me three children) love this place and want to make it our home. I usually wouldn't post anything like this but I'm trying everything I can think of. If you have questions that may help clarify please ask.
Do you want to make 80K or clear 80K? First might be possible second is a pipe dream.
 

tncattle

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1982vett":1a1gdvb5 said:
tncattle":1a1gdvb5 said:
We have the chance to live on a farm and eventually buy it in three years. At the end of the three years we will need $75K which we can get from selling the house we live in now, we'll rent it till then. The problem is we need to do a lease & purchase option now but right now I can't come up with any workable ideas to generate around a $80K from this farm on a yearly basis. It's 100 acres and about 65 of that is open pasture land. It was used as a dairy by Mennonites for around 25 years up till about 2000. It has great infrastructure (buildings, grain & feed bins, commodity shed, etc.) 15 Acres is in Alfalfa and the rest is grass--good soil. I know without seeing it it's hard to give good advice but I'm having serious brain cramps and we (wife, me three children) love this place and want to make it our home. I usually wouldn't post anything like this but I'm trying everything I can think of. If you have questions that may help clarify please ask.
Do you want to make 80K or clear 80K? First might be possible second is a pipe dream.
I want to make $80K and even more if possible. $80K will allow us to pay the lease and live there and have money to live on.
 

1982vett

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You realize to bring in 80K, each acre would need to earn $800. Don't think it is going to be easy.

Bed and breakfast at a $1000 a week-end times two bedrooms might do it if you can stay sold out.
 

tncattle

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1982vett":2jiaqdci said:
You realize to bring in 80K, each acre would need to earn $800. Don't think it is going to be easy.

Bed and breakfast at a $1000 a week-end times two bedrooms might do it if you can stay sold out.

It has a 3800 square ft. home that the Mennonites built and then someone added on, it's kind of odd and I don't think the whole property would be condusive to Bed & breakfast. But I ain't ruling it out and thanks for the idea, thats what I need, as many ideas as I can get.
 

HerefordSire

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Specialty business is the only way I see how you can generate $80K per year. What type of investment, besides you and your family's time and the land, do you have to work with?
 

tncattle

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HerefordSire":2xtq6hdg said:
Specialty business is the only way I see how you can generate $80K per year. What type of investment, besides you and your family's time and the land, do you have to work with?
$10K-$20K and maybe more.
 

tncattle

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cross_7":x7svx599 said:
keep your job and work on the farm after work and weekends...

my job is 99 miles from this farm, I guess that could be possible. Some days I don't have to at work until 9 am but others it's 7:30 am.
 

HerefordSire

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If you have a green thumb....

Plant the 100 acres.....advertise in Memphis, Nashville, Knoxville, and Chatanooga or your closest big city. Have your clientele prepay in the late winter for organic beef and vegetables. Sell below retail but much higher than wholesale. If you collect $100 per person, you would need 800 people if you didn't have any production costs. Shoot for 1000 clients or more. It would be possible for you to get 10,000 clients. Be creative in order to get someone you never met to send you a check for $100.
 

tncattle

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HerefordSire":2eq6fuw7 said:
If you have a green thumb....

Plant the 100 acres.....advertise in Memphis, Nashville, Knoxville, and Chatanooga or your closest big city. Have your clientele prepay in the late winter for organic beef and vegetables. Sell below retail but much higher than wholesale. If you collect $100 per person, you would need 800 people if you didn't have any production costs. Shoot for 1000 clients or more. It would be possible for you to get 10,000 clients. Be creative in order to get someone you never met to send you a check for $100.

Only 65 acres is open land the other is wooded. Out of the 1000 are 200 to cover production costs?
 

HerefordSire

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tncattle":1egsa43o said:
HerefordSire":1egsa43o said:
If you have a green thumb....

Plant the 100 acres.....advertise in Memphis, Nashville, Knoxville, and Chatanooga or your closest big city. Have your clientele prepay in the late winter for organic beef and vegetables. Sell below retail but much higher than wholesale. If you collect $100 per person, you would need 800 people if you didn't have any production costs. Shoot for 1000 clients or more. It would be possible for you to get 10,000 clients. Be creative in order to get someone you never met to send you a check for $100.

Only 65 acres is open land the other is wooded. Out of the 1000 are 200 to cover production costs?

Yes. Put all your numbers in an Excel spreadsheet with fomulas in the cells to where you can change any number and the important decision making totals are immediately updated. 10,000 clients could be easy if you target organic yuppies with jobs paying greater than $100K per year and you are smooth talker.
 

HerefordSire

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tncattle":3cbd56c7 said:
do you mean 1000 clients instead of 10,000?


No. I mean 10,000 people sending you a $100 check is possible. If you collected prepay checks for 90 days prior to planting season, you would have to take in 111 $100 checks each day or 11 per hour for 10 hours each day. If you are creative and create urgency, I feel like it can be done. No matter what you choose to do, there will be risk ...some are higher risks than others. Generally, I would not start any business in this environment.....but people have to eat...food prices are expected to increase in price....and if you grow good home grown vegetables where organic yuppies can stop by and pick up fresh produce once every two weeks...etc.
 

tom4018

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I don't know what part of TN but $6600 a month seems pretty steep to me. I don't see how a person could make that much on that size farm.

Is the timber marketable?

Oh yea, if someone figures out how to make that much let me know. ;-)
 

HerefordSire

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tom4018":q5gsaftp said:
I don't know what part of TN but $6600 a month seems pretty steep to me. I don't see how a person could make that much on that size farm.

Is the timber marketable?

Oh yea, if someone figures out how to make that much let me know. ;-)

Making money is very easy.
 

tncattle

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Please don't misunderstand because I appreciate the idea but I think expecting to get 10,000 customers is probably not very realistic. The farm is 90 miles south of Nashville, about 40 miles north of Chattanooga and no where near Memphis or Knoxville.
 

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