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Would I be crazy to buy a farm?
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Posted by greenwood85 6b (My Page) on Sat, Jan 31, 09 at 9:56
| Most people say yes, but it seems like new small organic farms are popping up all over the place and thriving. So I'll ask the folks who know. Would I be crazy to quit a good job to become an organic farmer? Is it possible to be successful as a start-up in the current political/economical climate in our country?
I am seriously considering a change of career. I've heard rumors that Obama may offer grants or incentives for farmers willing to practice responsible farming techniques(use of cover crops, crop rotation, etc.). That sounds good. |
Follow-Up Postings:
RE: Would I be crazy to buy a farm?
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| Yes, yes you would. Thanks,
Me. |
RE: Would I be crazy to buy a farm?
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| Most people who successfully leap into a new thing like farming would try to do it as a hobby first. After that hobby starts to pay for its self and you believe that if you devoted your full time to it that you could make a living off of it... Only then would it be an actual GOOD idea to become a full-time farmer. It may actually be very hard to get a loan for a farm if you don't have a business plan or the equipment or an agricultural job to use as a reference that you would be capable of farming on your own. I recently bought a house. My credit score is very good, my income is better than it needs to be for the loan and I had plenty of money to put down a full 20% payment. Still, with today's loan market they had me jump through so many silly hoops to be absolutely sure that I was safe for them to give a loan to. Generally there are several checks but this time it was quite ridiculous. I imagine that for a high risk business loan the requirements would be even higher. |
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