Purchase of a farm?

[terrisss]

Everyone was so helpful yesterday, Thank You!
But like I mentioned before, I am purchasing my family farm from my father, it has 40 acres of all pasture, with water. My goal is to retire from my fulltime job, my boyfriend would like to retire in about 5 years. If anyone has any suggestions on what it would take for me to achieve this, that would be great. I'll try to give you all the details of my purchase, so please be patient with me.

The farm consists of the following:

1. Milking parlor for 80 head w/full pipeline
2. Various out buildings (machine shed, calf building, 2 grain bins & 3 silos. It also has a huge manure pit off from the barn, and over head building in the pasture.
3. Their are also 420 acres that my father is renting as tillable land, which someday will belong to us children.
4. House that needs remodeing, and a mobile home.

We are purchasing it for $149,900

If anyone has any suggestions on what would be the most profitable way for us to proceed from their past experience,
We would so greatly appreciate it. When I lived there, milking holstein cows was the big money maker, but apparently not anymore.

I know it's alot to ask, but we just want to make sure we approach this the right way.

Thanks Again For All Your Help!

Terri/Wisconsin

 

[john250]

Everyone was so helpful yesterday, Thank You!
But like I mentioned before, I am purchasing my family farm from my father, it has 40 acres of all pasture, with water. My goal is to retire from my fulltime job, my boyfriend would like to retire in about 5 years. If anyone has any suggestions on what it would take for me to achieve this, that would be great. I'll try to give you all the details of my purchase, so please be patient with me.

The farm consists of the following:

1. Milking parlor for 80 head w/full pipeline
2. Various out buildings (machine shed, calf building, 2 grain bins & 3 silos. It also has a huge manure pit off from the barn, and over head building in the pasture.
3. Their are also 420 acres that my father is renting as tillable land, which someday will belong to us children.
4. House that needs remodeing, and a mobile home.

We are purchasing it for $149,900

If anyone has any suggestions on what would be the most profitable way for us to proceed from their past experience,
We would so greatly appreciate it. When I lived there, milking holstein cows was the big money maker, but apparently not anymore.

I know it's alot to ask, but we just want to make sure we approach this the right way.

Thanks Again For All Your Help!

Terri/Wisconsin

You aren't retiring. You're changing careers.

80 cows ain't gonna cut it in the dairy biz. And more work than "retired" people want. Dairy facilities convert nicely to backgrounding beef operations. And finishing operations. Buy low, sell high, if you can.

 

[terrisss]

Your right, I shouldn't call it retiring...Just changing careers!
I grew up on the family farm, and left when I was 18. My dad and I ran 3000 acres, dehorned, casterated & milked 120 head, and I really miss it (yes, just the 2 of us). To me having 40 acres feels like I would be retiring!
I'm now 44, and the opportunity of going back, is exciting. I do not plan on milking (unless it's goats).

So back to my original question, do you suggest that I just raise beef cattle?

Thanks
Terri

 

[alabama]

I don't think you can make a living on 40 acres raising cattle. But if you have the income to live, then raising a few cattle can turn a small profit.

 

[terrisss]

That's a depressing answer..Is their anyone out there, that raises meat & milk goats? Is there any profit in it? I recently heard that a goat milk plant is opening up not to far from my farm....and since I already have a milking parlor (and with a few alterations, maybe that's the way to too)?

Your Thoughts Are Greatly Appreciated!

Ter

 

[travlnusa]

I also have 40 acres here in NW Wisconsin. We a currently buiding a herd to the point we can quite outside work. To do that we will need numbers that will force us out of current place. We pay cash for eveything and buy equipment used.

As for the goats, if you are near Minneapolis at all, I would think you could build a business selling direct to the mid east market.

As all things, it would take time.

 

[badaxemoo]

That's a depressing answer..Is their anyone out there, that raises meat & milk goats? Is there any profit in it? I recently heard that a goat milk plant is opening up not to far from my farm....and since I already have a milking parlor (and with a few alterations, maybe that's the way to too)?

Your Thoughts Are Greatly Appreciated!

Ter

The meat goat market in Minnesota and Wisconsin is certainly growing with the influx of East African and Mexican immigrants.

There is also a growing potential for artisan cheeses - whether goat, sheep, or cow.

That said, I think the only way you could hope to make a decent income off of 40 acres would be to direct market cheese or some other value-added product.

If you don't want to direct market your products, your options for a real income are limited. You said you don't want to milk cows, but with access to some more land, you could set up a grass-based, organic dairy. Realistically, this is one of the few farm enterprises for start-ups that has been able to support a family income.

Contact Organic Valley in La Farge, Wisconsin (the nation's largest farmer-owned organic milk cooperative http://www.organicvalley.com) if you're looking for more information. They have been actively looking for more producers and even assist with certification issues.

As others said, beef cattle might provide some supplemental income, but even if you go for organic, 100% grassfed beef production (the highest value beef I know of) and direct market it you would have to live awfully frugally to make a living off of it.

Good Luck

 

[alabama]

That's a depressing answer..Is their anyone out there, that raises meat & milk goats? Is there any profit in it? I recently heard that a goat milk plant is opening up not to far from my farm....and since I already have a milking parlor (and with a few alterations, maybe that's the way to too)?

Your Thoughts Are Greatly Appreciated!

Ter

You might make it with goats. That is a fast growing market.
But with cattle I think you need 150 mommas to make a living in the cow calf business.

 

[somn]

I don't think you can make a living on 40 acres raising cattle. But if you have the income to live, then raising a few cattle can turn a small profit.

I know more than one person who has made a wonderful living and retired and lived for the rest of thier lives off what they made and they had less than 15 acres to raise cattle on. We call it a feedlot.

 

[blk mule]

Don`t want to sound like a whinner but, If you can make a decent income from 40 acre farm i`m all for your management.
I have always lived on a farm. Dairy cows while i was growing up,raising corn, hay, soybeans, tobacco. We seemed to do very well (45 yrs ago)
Today with prices sorring, it is very tough. I hold down public job so i can help support the small cow/calf operation i have.
NOT into farming anymore at all. but, sure miss the day`s in the fields. but, honest i feel i would have a cow/calf program even if i loose $$. (I enjoy cattle can`t help it)
I do wish you the best in your operation. :lol

blk mule

 

[Aero]

goats pretty much sell for the same live price at feeder sales as weaned calves do in our area. you get a few more pounds out of beef cattle for each acre than with goats.

the multiple kidding of goats makes herd expansion a bit quicker which might help with cash flow in the beginning. my family has had boer goats and Angus cattle concurrently... there are only a few goats still around.

i cant imagine having to milk goats for a living.

 

[lseger]

We're starting a small goat dairy in Texas. We will be doing direct marketing - a farmstand and farmers markets. The thing I can say about goat dairying is that you will not have a lot of competition - there is so much room in the marketplace...and no giant industrial farms to compete against. (There is no goat equivalent to "Elsie the cow" )

One of the women who has been helping us get started brings in about $1000 a week selling cheese at two markets. ..with only 11 goats. It's a lot of work, for sure, but has great profit potential.

Good luck in whatever you choose - we're pretty much in the same boat so will cheer for you.

 

[Aero]

$1000 a week selling cheese at two markets. ..with only 11 goats.

hmmm... maybe i should reconsider the goat dairy. :shock: