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farawayguy
Posts: 71
Registered: ‎09-04-2013
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Should I Custom Farm?

I have found myself managing rent on family farmland and am considering trying my hand at custom farming, by which I mean hiring out the work (opposite of a previous post I read). I live way out west, but the land is in Illinois. I have about 550 acres (combined) in two parcels 5 miles from each other - all A rated farmland for corn and soybeans. I grew up on a farm, but that was 30 years ago - much has changed! Am I crazy to try this?  I have an MBA in Financial Planning and I'm thinking I'm leaving too much on the table cash renting, and I don't really want to just jack up the cash rent to the current tenant, farmer, so I thought maybe a total change of operations is needed. I'd love to hear opinions.

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