smoaky99":2b1sk0cs said:
I am new here and I have a few questions to ask the people that would know what they think would be a good choice. I just inherited about 500 acres from a family friend. I got with it 2 big tractors, two brush hogs, a square bailer, and round bailer, rakes, two truck, small cattle trailer and large one, three big barns on it, two places to heard cows to load em up. Pretty much everything because the friend did nothing but cows his whole life. I worked for him during summers helping him out. My questions are now that I have inherited everything is it possible to be able to live off of raising cows? I am a football coach and high school teacher right now but I would have to quite my job and move a good distance to be able to take over the land. I have always wanted to do it but my question is can it pay the bills? or would I need to go along the lines of move up there get a job and then slowly start adding cattle to it again? There were cows on it when I inherited it but I sold them because I at least have half a year teaching. Any comments will be appreciated. Thanks
Sorry for your loss of a good friend - and congrats on the gift you are now responsible for - you have been entrusted for a reason and therefore must look after it.
First - go slow!
As previously stated - can you - well, yes you can - however - are you truly ready, able and willing to do the work? It is not easy. Otherwise everyone would be doing it - and it is very easy to pizz it all away.
The costs are still sunstantial to get up and running - you are not going to do this on 50 cows!
You have to put stock out there to get a return and in all honesty it is something that you probably do not know enough about yet - even if you did "help" - it is a business and you probably did not get involved to the extent you think you did.
So again - go slow or it can disappear in a puff of smoke.
Lease the land out. There are naysayers here, but there are good people who will look after your land. I have leased a portion of our place and it is working out fine - so it can be done.
That revenue stream pays taxes and bills - which is a good thing.
Get that teachers pension. You have no wife and no kids. Therefore no needless expenses! LOL
That pension plus the lease might just make you a gentleman farmer who can do as he sees fit while someone else does the hard lifting.
In the end you do not say what you would REALLY like to do only that you THINK you might like to do this.
Go for it - but go slow and have a separate income to shield you from all the expenses that will come up - expenses that you had no idea even existed!
So - lease first - get the pension - grow slow and have fun.
Otherwise - and I mean this - there is a good chance it will turn you inside out and it will all blow away.
Just my two cents
Bez