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Discussion Starter #1
I just need to rant for a bit here. So this last spring, we get a call from our landlord saying he had sold the farm that I farm. A whopping 32 acres of ground. I use the revenue to pay for some school and my car (payments). So my dad trys to get in touch with the guy who bought it. Left a message (this is in like May/June, btw) He never returns our call. We knew he owned the surrounding 120 acres around this farm, and we were going to try to rent the whole piece from him. So still no calls. Sept 14 we get a notice in the mail saying we won't be farming it this coming year. :bawling: Kicker is this...you've got to have the notice by Aug 31 or Sept 1 for it to be effective, so essentially, we are still entitled to farm it this coming year. :znanner: So my dad talks to him and pretty much tells him what the deal is (I don't think he was aware of the deadline, or thought we weren't). So he wants to talk to me then. Tells me he wants to farm it all one piece (yank all the fences out, etc) and he'd like to give me some $$ to let it go to someone else this coming year. So I say ok, and we set up a meeting last Friday. I've got all my figures from what I've earned over the past 4 years and show him. He then makes me an offer of $2150. That's the average profit over the last 4 years, 2 beans and 2 corn. The bean years average out to waay more than that. And it would be beans this coming year. Also, I've been splitting the profit 60/40 with the previous land owner (he gets 40% of crop for rent) and the new guy wants to do 50/50 (he pays half of everything and gets half the crop). In the 50/50 world, I make more, not much, but it's a substantional difference. So anyways, I tell him I'll think about his offer and get back to him today. I work some numbers and come up with just short of $3K that I would be making if it's 50/50 (that was an average of the previous years bean crop) and I felt that was a fair enough trade off. Considering of course that I can still farm it...hmmm...$2150 to walk away or $3K to farm it...basically giving up $900. I tell him this and he says we'll compramise...average the 2...we get $2562ish. Still too low I feel. I'm chewing on this one till tomorrow, but damn...some people. And it's not like he needs the money. Thanks for listening. Rant off

Joe
 

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Honestly, I would take the money. $450 isn't all that much of a gain for so much work.

-Miller
 

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The Parts Guy
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miller1995 said:
Honestly, I would take the money. $450 isn't all that much of a gain for so much work.

-Miller
Ditto.

-Rod
 

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Refrigerator Raider Hater
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It's a better deal than working all that time for $3000. Figure out how much time you would spend farming, figure out how much you would spend in captial (seeds, gas, fert.) Take that $450, and subrtract expenses, then divide the answer by the number of hours worked. I think that will help you make up your mind, seeing as how with all that time you could get a PT job....
 

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miller1995 said:
Honestly, I would take the money. $450 isn't all that much of a gain for so much work.

-Miller

I agree,

3000 for a sh*t load of work,

or 2450 for nothing!!!!


No question there.

MG

(little note... Invest it.... make some more money off of that money!!)
 

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Discussion Starter #6
Actually, a figure of roughly $2750 is what is profit after all the inputs (seed, chemical, labor, fuel, machinery, etc). The actual revenue number is around $4K. Honestly though, farming that small piece of land only requires around 50 hours of actual field time. And its what I like doing too. Which really kind of drives the stake a little further. But I drive a hard bargin. Have to call him back yet, we'll see what happens.

Joe
 

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Refrigerator Raider Hater
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so your going to work 50 hours for $188 (2750-2562)? Plus, you never know, maybe this year you'll get a drought, or a flood.
 

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I have no idea about farms, but I did take an economics class one time where we learned about opportunity cost which is the cost of the greatest good passed up to do what you are doing. Essentially, like it was pointed out above, 50 hours of work for only 150 extra dollars is $3 an hour. I realize that is what you love to do, and most of us here feel the same way about our cars, but think of what else you could be doing during those 50 hours. Wether it is a part-time job, learning a new skill, or just spending time with you family and friends. Are any of these worth more than $3/hour to you. Of course the decision is yours, so do what's right for you.
 
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