@@spencerhilbert depending on the part of Iowa you live in it might be kinda clay like cause lots of coal mines cause my farm/house we have is on a huge clay mine and everywhre there are clumbs of clay and just glass so you might have to till like a few inches deeper and do it a few times to mix some dirt up on top
My wife of 30 years is from a central Iowa farm family and, from my amateur observations of the high costs involved in starting a farm, I wish you the very best. With the increasing cost of land, machinery, and a whole lot of other things, there are obviously less risky career paths to take. But with the average age of farmers being up in the 60's, its good to see younger farmers taking up the challenge. By the way, it seems you did well on your land @ $7700/acre. My wife just got a 100 acre tract near Kamrar appraised at near $1.4 million, almost double the per acre cost. All the best.
Farmland cost is definitely high in Iowa. We have a little over 2000 acres in Central Iowa. A parcel of land almost adjacent to ours went for $18,500 an acre and that was 5yrs ago. We ended up buying a different parcel and paid way less since our competition got the other parcel but paid a premium. It wasn’t intentional, but it worked in our favor immensely.
I just want to say, I appreciate the transparency because it's a good dose of reality-- for better or worse. For anyone who wants to get into a line of work, seeing how the numbers break down is so useful, yet very few people (understandably) are comfortable in providing it.
Interesting to see how this works, I am Irish and started farming when I was a good bit younger than you, I bought my first farm at 20 ( coincidentally 50 acres) and bought another when I was 24 over the years I have bought a good few farms, like you I have always bought farms that have been neglected for years( basically because you pay the tax man for the privilege of buying a nice farm and he pays you to make a poor farm into a nice farm) I have always had to buy more land because I get to the point where I am paying more and more capital and less and less interest, while the interest is a tax write off we have to pay taxes on any of our capital repayments ( which basically means that for every euro we pay off the principal we give the tax man one as well) there are ways to avoid this however the taxes are paid eventually and I would rather be a sole trader with more wiggle room than a company with a huge corporate headache, I think you are a brave and capable young man with guts and ability, my advice is for what it’s worth, don’t ever worry about the banks because banks will never worry about you, don’t be loyal to any bank use them to your advantage and continue to shop around for the best deals you can get even after you have been given a loan because if one bank is willing to give you money so are the rest , depending on which bank has cash on hand on any given day you could get money at a considerable discount if you keep looking, I have saved myself thousands over the years by switching lenders sometimes I have switched lenders on the same property up to 4 times over the term of the loan, be aware that the quicker you can pay down your loan the cheaper it will be, like you my first farm was over 20 years the next 15 and generally it was 10 thereafter but now that I am over 55 I am down to 7 or 5 depending on a number of variables. My situation has changed over the years so I generally have what we call back to back loans now so it cuts out all the paperwork and is very fast and extremely competitive.😊
Nice video Spencer, my former wife was a farm gal from Nebraska, they farmed about 1500 acres that had been in the family since Abraham Lincoln if you can imagine. I got to meet alot of farmers and they indeed are a special breed. I hope this goes well for you, we need new farmers.
Thank you Spencer! It's particularly helpful to hear the detailed financial information, even though I do respect your privacy. Thank you for sharing it, and for the farming details too! I always get a lot out of your videos, even if I don't comment every time. I hope things keep going well for you! You earn your positive results with your strong efforts and the intelligence to consider what you are actually doing, and always keeping in mind if you can improve on things. I think that is an excellent way to conduct oneself! Thanks again!
this is one of the best I have seen and learnt , over the years , tried to go to classes , they shared more info not useful than needed and they asked me to take their survives , you and your brother are awesome good luck brother , having lot of experience in India but trying to get back to my roots in US is hard , learning a lot from u and u r bothers channel
You too can as well benefit from agricultural investment, heard of Agro farms investment? They allow anyone to invest in their farms and receive daily ROI without doing the work.
Do tillage at a slight angle 5-10 degrees off 0 or 90. The planter row units ride and plant at a more consistent depth because the tillage leaves small ridges and it helps spread the compaction at vs compacting the same tractor passes
Spenser I have heard of people making a living on 50 acres, but they always grew much higher value crops than corn. When I was a Kid two brothers I worked for made a good living on 20 acres. They had several green houses i which they grew flowers and vegetable plants. Then in season (in South East MI) They grew tomatoes, peppers etc. When I was in grad school (AE) I read an article done by Tuskegee University in which they showed how a farmer on 40 acres could gross 400k per year. Growing a variety of crops like berries and such. That was in 1975. Just FYI
For sure. I don’t doubt it. Currently I wouldn’t have the expertise to start something like that. Also I don’t plan on living off the farm, at least currently. I am always open to new ideas that factor in the time cost as well. But who knows down the road I am always open to a good opportunity.
Really appreciate this look into a part of America and an industry that most of us from other walks of life do not think much about. Very interesting! Thanks for the honest look into your process and details of your investment. Wish you the very very best and all success. Keep the great content coming!
Thanks for sharing! Your corn looks really great. I think you have made an excellent step towards agriculture especially having a brother in the same line of work. I have tried to purchase Farmland and could not even buy 5 acres in AG zone in California. The greatest hurdle has been prior farming experiences which I couldn't prove even if I was born and raised on farm. You also have had an amazing price for the land, and your video has revived my dead motivation. I may have to move out of California to try farming somewhere. Thanks again!
Your anti rotation bracket on the steering wheel doesn’t look tight enough to the column so when the motor turns it’s having to compensate for the whole unit moving first.
With the autosteer, the steady steer system isn’t going to do as good of a job as getting a steering valve out in at the bottom of the steering Column, the steering valve is going to be much more accurate than the steady steer, hope this helps
This. I’m just a little guy. But of all my investments, I’ve never ever lost money on dirt. Even when I went through a divorce, I gave her all the cash, I kept the dirt. Still made out way better than if I went for the cash.
Steer axle sensor could be going out, sometimes you have to recalibrate the guidance. After calibrating the globe, you’ll have to run through the calibrations for your steering
Thank you very much for the information, Spencer! I am looking at expanding my small farming operation after I get done with college and have considered the FSA route.
Glad to see the next generation getting into it. Only suggestions are to go-slow, don't overextend, & pay down the high interest% debt ASAP. Good luck to you.
8k an acre anymore is right about the going rate. I'm finding deer ground is 7 k plus. Back in 2011 I paid 1700 an acre for my southeast Iowa farm and today that same farm brings over a million bucks all day. Thanks for the breakdown and video sir. Keep up the good work.
As for your patches in the corn, this fall after harvest, you should take soil samples to get analyzed and have your local coop do a prescription based on those sample results.
Maybe compaction on those north/south lines? If it's farmed the same way all the time and/or something is mudded in it might do that? Might want to try to pull a deep ripper through it this fall and see if it pulls hard in those spots.
Making us jealous, I live on Vancouver Island and are Annual rain fall is 485 inches a year but this year we are below 80 ,time to sell cattle,good luck
Turning long term crp to row crop ground is always hard. Your first two years are going to be bad. When we turn crp into rotation we plant an annual hay crop like teff grass. Then plant beans. Corn inputs are too high to lose that much crop. Also, ripping or plowing works much better we have found out. Will say next time spray round up on crp in August/September. Then rip ot plow in fall let freeze thaw happen, then disc, then cultivate. Rip at angle, disc opposite angle, then cultivate straight with your rows.
I appreciate you going over this so much and in detail I'm sure there's more detail you could do you can make an hour long video if you wanted to but I appreciate you being open and letting people like us more people like yourself who are wanting to get into farming and know that there are programs out there there are ways to not have to have a million dollars just to get started in farming one thing I would be interested in is how much 50 Acres ends up paying out compared to what you had to put into it and if it's able to make the payments because that's what I'm looking for to begin with is about 50 acres but I want to know, let's just say we have a good harvest if I have a good harvest is it going to pay you no for what it took to get the Harvest in and get the Harvest out once cuz 50 acres is not a lot of Acres especially compared to some of these guys with 2,000 acres 10000 Acres you know stuff like that God bless I'm praying bless your Ventures and we hope to see and hear from you soon
Yes, At the end of the season I will be breaking down how the farm cash flows. Currently my projections are I will be losing money. I would not recommend starting a farm without having most of your income coming off the farm. Appreciate the comment!
From someone who had no idea what you were taking about (at first) you explained it very very well, shoot you got me thinking I could do this 🥴 love the videos man!
This is great info. I’m on my second year of “real” agricultural work, but don’t own any substantial amount of ground. I didn’t know programs like this existed until now.
I am from Oregon, and tracing back 5 generations, 3/4s of my ancestors were farmers. In my generation, only one of my cousins was farming, and he inherited the farm (subject to whatever his brothers may have had an interest) from his dad. He was a very successful farmer, and i have often wondered how anyont could get started from ground zero given the enormous costs. Thank you for the breakdown, and I wish you all success.
Nowadays you don't need to own a farm to benefit from agricultural investment, heard of Agro farms investment? They let users invest in their farms and get daily ROI. Anyone can invest
This information was great, I'm not a farmer however the informtion was very educational. Hope you have a great crop, really enjoy following you and all the hard work you do. I always say a Farmer is the most important person in the nation . " Without them a nation starves "
Very good start Spencer! I hope all the best for you. Reminds me of my start 20 years ago, when I paid $2,200 per acre for northern Indiana ground (and thought that was expensive at the time). You put 180 miles on your brother's tractor (round trip). WOW! It's good that you have a very good relationship with him. 😁
To buy property with 10%,one should not expect a profit in the few years, whatever type it may be. You already improved the value with all the upgrades on it. From year 6 you can expect some profits and by then your land value will also be higher. Plus you do what you enjoy - what is not to like. Cheers from South Africa.
Great video. It is interesting for people to learn farming finance. What so many don't know is how much can and does go wrong along the way to paying the loan off. Not mentioning the cost of equipment. I farm, unfortunately for farmers where I am, bank interest loans are 26.5% twenty six and a half percent. This is only possible if I prove 120% collateral and a current offtake agreement valued equal to or more than 80% of the total value of how much I want to borrow. Unbelievable how hard it is to get into farming. I grew up on a farm, have farmed on my own for 35 years. Gone bankrupt twice and have finally come through and have a viable farm. Probably will not be a farmer in my next life........ I will say, it has been one hell of a ride. More exciting than banking I would say. I wish you all the very best, and hope you make a big success. Have faith and follow your dream!
Wow 26.5% rate is crazy. Yeah I am starting small and we’ll see how it goes. Right now it’s pretty much a hobby farm. That’s a crazy story glad it worked out in the end!
This was a very good great video I follow your brother and you helping him I'm so impressed by both you young men I can't wait to see more of your videos if I ever get back home that way might look all up thanks again be safe out there.
Good luck to you young man, in financial matters, math doesn't lie. Some farm land in NEIN is going for 45k/acre and my new neighbors 28 acres, just for hunting, went for nearly 14k/acre.
Our local land prices have skyrocketed this year (2024). I'm not even joking, it cost $4,200 per acre in January, in June one acre cost $8,400 per acre, and right now, there are 60 acres listed this month (November) on my same road for $12,600 per acre. It's less than one mile from our 80 acres. When prices doubled to $8,000 this last summer I kept watching the listing thinking nobody would pay that price, they sell in about a month. We are 20 miles outside a smaller city. Our entire county has one high school, that's how small the population is but land prices are still going up fast.
So I'm curious - what do your operating expenses look like so far? I'm particularly interested in seed and treatment costs per acre (fertilizer/herbicide/fungicide, including the service), overall equipment costs, etc. And what would you say are reasonable profit projections come harvest time, and do you have some sort of access to a harvester? I'm curious how all of that stacks up alongside those loan payments and such. Because if, after factoring in everything, this looks to be financially sustainable, I might end up being one of those 50 to 100 people you mentioned. But I've really gotta know more before giving any kind of serious consideration. Honestly, if I were to embark on such a journey, I pretty much see me starting out with an antique 8N and some very small, very old (read: "very easy to repair") equipment on MAYBE forty to fifty acres.
I have no interest in buying land or starting farming but the channel is very interesting to me. I also really like the analytical and number crunching metrics. Thank you for sharing!
I think you should construct wooden gate in the river, so you can elevate ground water levers in dry months. In wet season you can open gates and don;t bother about flod.
Do you know you mustn't own a farm land to benefit from agricultural investment, heard of Agro farms investment? They give people the opportunity to invest in their farms and receive daily ROI without doing the hard work. It's a very safe investment
As per the steering, check for play in the track rod ends or any ball joints on the front of the tractor buy jacking it up. Have seen others do the same as this.
while signing the papers at the bank an old song can be heard on the radio in the back. "this land is your land, this land is my land... Ha Ha Ha good luck.
on the atu if it was straight before id look at the globe and see if it is loose and same thing with the atu just pop the logo off and see if that bolt is loose we had that issue and tightening the bolt up a bit seemed to fix it.
Hey spencer. I am a farmer as well, only in the Netherlands. I heared yours question about why the corn was growing better on the part that hasen’t been farmed for years. I have an idea what the cause can be. I would test the soil in both places for organic matter (the farmed and not farmed pieces). Gras naturally produces organic matter each year and therefore it’s likely, that those parts will be higher in organic matter. Organic matter helps with storing water and nutrionts in the soil. You said that after planting you haven’t had much rain. That’s why I suspect that the higher organic matter in the not farmed pieces helped store the rain you had before planting. That made it easier for the corn to germinate and grow. Do you also see a difference in yield between the pieces?
It’s all in that tracking sensitivity setting seems like it’s set to sensitive. I ran one on a spra coupe spraying 10mph and I was always having to mess with it. Went to hydro steering valve to turning back.
Yeah land is almost always a great investment for retirement or profit. I bought land when In 85 and been offered 14 times initial cost. I could break it up and get 20 times more. It’s river frontage property
I haven't seen traditional tillage in a while. I was born and raised in Michigan before no till was much of a thing there. Everything was plowed and disked before planting. Where I live in Kentucky now, there isn't a ton of topsoil, almost none actually, and traditional tillage doesn't work well because all your topsoil would be at the bottom of the hill so everything is drilled in no till here.
Land is only about $5000 per acre in my area. I think it is going to take a huge drop in price in the near future. I made 15.7 bu per acre last year on corn, about 1/10 of a normal yield in our area. Our corn was looking great this year, but we went about 2 weeks without rain so it is hurting bad now. Luckily I am all soybeans this year.
Why do you think prices will drop? There may be small corrections but in a lot of areas, prices seem to be set to continue to increase. Prices are local though. Some areas may drop severely but then you'd have to ask yourself why. I am genuinely curious. My wife and I are looking to move out of a big city and to a smaller town/city and get a small lot of land for a homestead and light farming. Why and where do you think there will be a huge drop? We aren't set on a particular state but want to head more north. We are in So Cal now.
You to can benefit from agricultural investment, heard of Agro farms investment? They give people the opportunity to invest in their farms and get daily ROI without doing the hard work.
I always ran a diff lock when I used the steering boxes before integrated valves. Takes a noticeable amount of darting out. Tap the brake on the end to cancel it out, tap on again once line acquired.
Like you, I started farming on my own in 2009. Hadn't been on a working farm for 20 years. Very steep learning curve. What ive learned in corn is having a great seed bed is the most important thing that does not get enough attention paid to it. If there is time and I just should always make the time. After I get done field cultivating the field I will run a land roller over it. If it's not terribly dry and it needs to be field cultivated twice do it twice. And I take a lot of time to get every role of seating depth exactly the same. It's kind of nerve-wracking knowing that you should be going rather than messing around for an hour or more fine tuning seed depth but it pays. Fertilizing and weed control are very important but kind of a no-brainer. But again the seed bed is very important in corn.
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The whole breakdown of cost and explanation of how the loans and stuff work is super useful. Keep up the great work.
Glad it was helpful!
@@spencerhilbert Was really hoping your brother would break down costs at the end of his first year. Thank you for the informational video
Extremely nice job on the video. Your a knowledgeable young man
@@spencerhilbertyes this video is very helpful for sure
@@spencerhilbert depending on the part of Iowa you live in it might be kinda clay like cause lots of coal mines cause my farm/house we have is on a huge clay mine and everywhre there are clumbs of clay and just glass so you might have to till like a few inches deeper and do it a few times to mix some dirt up on top
I give you all the respect kid. You are one amazing person and the Country needs more like you. Best wishes and prayers for your success.
Very Kind of you to share your experience Spencer. GOD Bless this young man and his noble endeavor.
Greatest respect of this young gentleman! The country need more men like him.
My wife of 30 years is from a central Iowa farm family and, from my amateur observations of the high costs involved in starting a farm, I wish you the very best. With the increasing cost of land, machinery, and a whole lot of other things, there are obviously less risky career paths to take. But with the average age of farmers being up in the 60's, its good to see younger farmers taking up the challenge. By the way, it seems you did well on your land @ $7700/acre. My wife just got a 100 acre tract near Kamrar appraised at near $1.4 million, almost double the per acre cost. All the best.
Farmland cost is definitely high in Iowa. We have a little over 2000 acres in Central Iowa. A parcel of land almost adjacent to ours went for $18,500 an acre and that was 5yrs ago. We ended up buying a different parcel and paid way less since our competition got the other parcel but paid a premium. It wasn’t intentional, but it worked in our favor immensely.
My Grandfather bought his 200 Acre Farm in Michigan for $500.00 a long time ago. I hate inflation!!!!!!!!!
In warren county my new neighbor paid $23k per acre this past spring and thought he got a screaming deal...
not to mention Diesel fuel prices
same, 1 tractor like that blows an engine and there goes your profit
I just want to say, I appreciate the transparency because it's a good dose of reality-- for better or worse. For anyone who wants to get into a line of work, seeing how the numbers break down is so useful, yet very few people (understandably) are comfortable in providing it.
Interesting to see how this works, I am Irish and started farming when I was a good bit younger than you, I bought my first farm at 20 ( coincidentally 50 acres) and bought another when I was 24 over the years I have bought a good few farms, like you I have always bought farms that have been neglected for years( basically because you pay the tax man for the privilege of buying a nice farm and he pays you to make a poor farm into a nice farm) I have always had to buy more land because I get to the point where I am paying more and more capital and less and less interest, while the interest is a tax write off we have to pay taxes on any of our capital repayments ( which basically means that for every euro we pay off the principal we give the tax man one as well) there are ways to avoid this however the taxes are paid eventually and I would rather be a sole trader with more wiggle room than a company with a huge corporate headache, I think you are a brave and capable young man with guts and ability, my advice is for what it’s worth, don’t ever worry about the banks because banks will never worry about you, don’t be loyal to any bank use them to your advantage and continue to shop around for the best deals you can get even after you have been given a loan because if one bank is willing to give you money so are the rest , depending on which bank has cash on hand on any given day you could get money at a considerable discount if you keep looking, I have saved myself thousands over the years by switching lenders sometimes I have switched lenders on the same property up to 4 times over the term of the loan, be aware that the quicker you can pay down your loan the cheaper it will be, like you my first farm was over 20 years the next 15 and generally it was 10 thereafter but now that I am over 55 I am down to 7 or 5 depending on a number of variables. My situation has changed over the years so I generally have what we call back to back loans now so it cuts out all the paperwork and is very fast and extremely competitive.😊
Nice video Spencer, my former wife was a farm gal from Nebraska, they farmed about 1500 acres that had been in the family since Abraham Lincoln if you can imagine. I got to meet alot of farmers and they indeed are a special breed. I hope this goes well for you, we need new farmers.
I'm looking for a farm work sir
Were they stewards of the land? Any chance they left the ground better than when they got it? I doubt it.
Thank you Spencer! It's particularly helpful to hear the detailed financial information, even though I do respect your privacy. Thank you for sharing it, and for the farming details too! I always get a lot out of your videos, even if I don't comment every time.
I hope things keep going well for you! You earn your positive results with your strong efforts and the intelligence to consider what you are actually doing, and always keeping in mind if you can improve on things. I think that is an excellent way to conduct oneself! Thanks again!
this is one of the best I have seen and learnt , over the years , tried to go to classes , they shared more info not useful than needed and they asked me to take their survives , you and your brother are awesome good luck brother , having lot of experience in India but trying to get back to my roots in US is hard , learning a lot from u and u r bothers channel
Glad it was helpful!
Do yourself a favor and remove "learnt" from your vernacular.
It warms my heart to see you go through this process. I just subbed. Nicely done videos too!
You too can as well benefit from agricultural investment, heard of Agro farms investment? They allow anyone to invest in their farms and receive daily ROI without doing the work.
love to see young generation doing farming, happily subscribed!
Do tillage at a slight angle 5-10 degrees off 0 or 90. The planter row units ride and plant at a more consistent depth because the tillage leaves small ridges and it helps spread the compaction at vs compacting the same tractor passes
Better yet, do not till at all. Cover Crops. Learn what Bio Reactors do.
$7,700 an acre in northern Indiana is no longer an option. Great buy. We’re at about 10-20k an acre now. Congrats keep growing
Granted I dont have my eye on 10+ acres and not farm land but here just 1 hour out of Houston the land is over 75k+ an acre. its so wild!
Iowa Iowa iowa
There about 250 acres for sale here in Saskatchewan for $350k
That was nice of you to put info out there that can help people.
Spenser I have heard of people making a living on 50 acres, but they always grew much higher value crops than corn. When I was a Kid two brothers I worked for made a good living on 20 acres. They had several green houses i which they grew flowers and vegetable plants. Then in season (in South East MI) They grew tomatoes, peppers etc. When I was in grad school (AE) I read an article done by Tuskegee University in which they showed how a farmer on 40 acres could gross 400k per year. Growing a variety of crops like berries and such. That was in 1975. Just FYI
For sure. I don’t doubt it. Currently I wouldn’t have the expertise to start something like that. Also I don’t plan on living off the farm, at least currently. I am always open to new ideas that factor in the time cost as well. But who knows down the road I am always open to a good opportunity.
Cannabis/hemp if it is legal is a great cash crop and doesn't need fertilizer etc
You don't happen to know where that article is do you? Been searching on the web. Sounds like a good read!
its eazy to say
@@spencerhilbertso you have a job on the side to pay your bills?
Thank you for sharing this. Nice to meet people who are honest to goodness people out to help other people learn.
For your squiggling problem, you should always do your last tillage pass in the same direction that you plant so it might be less bouncy
Thank you. This is great information that is rare in a transparent , realistic format. Keep it up and good luck to you and yours.
I appreciate that!
Really appreciate this look into a part of America and an industry that most of us from other walks of life do not think much about. Very interesting! Thanks for the honest look into your process and details of your investment. Wish you the very very best and all success. Keep the great content coming!
Thanks for sharing! Your corn looks really great. I think you have made an excellent step towards agriculture especially having a brother in the same line of work. I have tried to purchase Farmland and could not even buy 5 acres in AG zone in California. The greatest hurdle has been prior farming experiences which I couldn't prove even if I was born and raised on farm. You also have had an amazing price for the land, and your video has revived my dead motivation. I may have to move out of California to try farming somewhere. Thanks again!
Awesome video. Love watching your brother, and now we have you. Can't wait to see what you guys do and how you grow your farms.
Your anti rotation bracket on the steering wheel doesn’t look tight enough to the column so when the motor turns it’s having to compensate for the whole unit moving first.
With the autosteer, the steady steer system isn’t going to do as good of a job as getting a steering valve out in at the bottom of the steering Column, the steering valve is going to be much more accurate than the steady steer, hope this helps
Its always good time to buy land, might seem expensive today, but in 20 years it will seem dirt cheap! You have an awesome brother!
This. I’m just a little guy. But of all my investments, I’ve never ever lost money on dirt. Even when I went through a divorce, I gave her all the cash, I kept the dirt. Still made out way better than if I went for the cash.
Steer axle sensor could be going out, sometimes you have to recalibrate the guidance. After calibrating the globe, you’ll have to run through the calibrations for your steering
Thank you very much for the information, Spencer! I am looking at expanding my small farming operation after I get done with college and have considered the FSA route.
Best of luck!
Glad to see the next generation getting into it. Only suggestions are to go-slow, don't overextend, & pay down the high interest% debt ASAP. Good luck to you.
This person really explains the whole process my respect to him. Good luck Hope you do well 🙏👍
8k an acre anymore is right about the going rate.
I'm finding deer ground is 7 k plus.
Back in 2011 I paid 1700 an acre for my southeast Iowa farm and today that same farm brings over a million bucks all day.
Thanks for the breakdown and video sir.
Keep up the good work.
40k+ per acre in southwestern Ontario. 8k sounds awesome
Your transparency is amazing and fascinating! Loving your videos and look forward to them!
Thanks!
I lived in Florida for the last 30 years and I visited Iowa a few times and for some reason i like Iowa so much
Thank you fir your explanation. I now somewhat understood how u work numbers on a farm. Good luck.
I’ve have never been on a farm or had a interest in farms but that has changed from this guy
As for your patches in the corn, this fall after harvest, you should take soil samples to get analyzed and have your local coop do a prescription based on those sample results.
Food is the future. Im going to keep my eye on your channel kid, you are goin' places.
Great video on a new start. Here in the UK it is almost impossible as established farmers outbid those trying to break in.
Yeah you have to pay to play. I most likely won’t be able to pay input cost and loan payment from farm income.
Prolly got suggested your video because Sean Overton/Dust Ups channel. Name dropping so that the algos send more peeps your way! Best of luck!
Appreciate that
I can only imagine how you feel looking at your first crop planted by you on your land. Some us who have been there understand.
Hopefully they did not get the wind we got yesterday Northeast Missouri and Lil Bit of Iowa
Wind stayed far enough south my 50 here is north of grants and he missed it as well.
Maybe compaction on those north/south lines? If it's farmed the same way all the time and/or something is mudded in it might do that? Might want to try to pull a deep ripper through it this fall and see if it pulls hard in those spots.
Congratulations on your purchase. You’ve done a very good job of analyzing your deal which, by the way, is a very good deal.
Wow it went from FS17 (when I started watching) to farming in real life. Good work guys love the videos keep it up
Great break down ,count your blessings ur getting rain many places on the west coast and Canada are burning up from no rain ,great video Spencer
Yeah pretty dry in neighboring states. Got 3” in the past week.
Making us jealous, I live on Vancouver Island and are Annual rain fall is 485 inches a year but this year we are below 80 ,time to sell cattle,good luck
And any recalibration you can do will help the gps go into settings- then calibration, and just go though any there
Turning long term crp to row crop ground is always hard. Your first two years are going to be bad. When we turn crp into rotation we plant an annual hay crop like teff grass. Then plant beans. Corn inputs are too high to lose that much crop. Also, ripping or plowing works much better we have found out. Will say next time spray round up on crp in August/September. Then rip ot plow in fall let freeze thaw happen, then disc, then cultivate. Rip at angle, disc opposite angle, then cultivate straight with your rows.
Lovely looking piece of land; decent price; and a wonderful crop given it was your first year. Success story.
Thanks 👍
Really enjoyed financial breakdown portion of video!!
Have you considered utilizing a cover crop during the off season in order to prevent erosion? Just curious
I appreciate you going over this so much and in detail I'm sure there's more detail you could do you can make an hour long video if you wanted to but I appreciate you being open and letting people like us more people like yourself who are wanting to get into farming and know that there are programs out there there are ways to not have to have a million dollars just to get started in farming one thing I would be interested in is how much 50 Acres ends up paying out compared to what you had to put into it and if it's able to make the payments because that's what I'm looking for to begin with is about 50 acres but I want to know, let's just say we have a good harvest if I have a good harvest is it going to pay you no for what it took to get the Harvest in and get the Harvest out once cuz 50 acres is not a lot of Acres especially compared to some of these guys with 2,000 acres 10000 Acres you know stuff like that God bless I'm praying bless your Ventures and we hope to see and hear from you soon
Yes, At the end of the season I will be breaking down how the farm cash flows. Currently my projections are I will be losing money.
I would not recommend starting a farm without having most of your income coming off the farm.
Appreciate the comment!
Very interesting to see how the economics of farms works. Aprreciate how detailed you were about financing the purchase - it's an insight few get.
Glad it was helpful!
I'd want to do a deep plow on the new property. Bring up the soil from a couple feet down to the top.
From someone who had no idea what you were taking about (at first) you explained it very very well, shoot you got me thinking I could do this 🥴 love the videos man!
This is great info. I’m on my second year of “real” agricultural work, but don’t own any substantial amount of ground. I didn’t know programs like this existed until now.
Let's go man can't wait to see some vids on the farm.😊
I love it when I see Young guys like you thinking outside the box to be producers of wealth 🤑🤑🤑🤑😉😉👍👍👍 Good job 👏👏👏
I am from Oregon, and tracing back 5 generations, 3/4s of my ancestors were farmers. In my generation, only one of my cousins was farming, and he inherited the farm (subject to whatever his brothers may have had an interest) from his dad. He was a very successful farmer, and i have often wondered how anyont could get started from ground zero given the enormous costs. Thank you for the breakdown, and I wish you all success.
Nowadays you don't need to own a farm to benefit from agricultural investment, heard of Agro farms investment? They let users invest in their farms and get daily ROI. Anyone can invest
Are you planning on doing Regenerative agriculture?
This information was great, I'm not a farmer however the informtion was very educational.
Hope you have a great crop, really enjoy following you and all the hard work you do.
I always say a Farmer is the most important person in the nation . " Without them a nation starves "
Green Acres is the place for me farm living is the life you see
Great video. Thanks for sharing
Good luck dear. Your explanations are quite helpful.
Very good start Spencer! I hope all the best for you. Reminds me of my start 20 years ago, when I paid $2,200 per acre for northern Indiana ground (and thought that was expensive at the time).
You put 180 miles on your brother's tractor (round trip). WOW!
It's good that you have a very good relationship with him. 😁
Where in northern Indiana and what have you been growing?
To buy property with 10%,one should not expect a profit in the few years, whatever type it may be. You already improved the value with all the upgrades on it. From year 6 you can expect some profits and by then your land value will also be higher. Plus you do what you enjoy - what is not to like. Cheers from South Africa.
Good way to put it. Thanks for watching!
Great video. It is interesting for people to learn farming finance. What so many don't know is how much can and does go wrong along the way to paying the loan off. Not mentioning the cost of equipment.
I farm, unfortunately for farmers where I am, bank interest loans are 26.5% twenty six and a half percent. This is only possible if I prove 120% collateral and a current offtake agreement valued equal to or more than 80% of the total value of how much I want to borrow.
Unbelievable how hard it is to get into farming.
I grew up on a farm, have farmed on my own for 35 years. Gone bankrupt twice and have finally come through and have a viable farm. Probably will not be a farmer in my next life........ I will say, it has been one hell of a ride. More exciting than banking I would say.
I wish you all the very best, and hope you make a big success.
Have faith and follow your dream!
Wow 26.5% rate is crazy. Yeah I am starting small and we’ll see how it goes. Right now it’s pretty much a hobby farm. That’s a crazy story glad it worked out in the end!
This was a very good great video I follow your brother and you helping him I'm so impressed by both you young men I can't wait to see more of your videos if I ever get back home that way might look all up thanks again be safe out there.
Good luck to you young man, in financial matters, math doesn't lie. Some farm land in NEIN is going for 45k/acre and my new neighbors 28 acres, just for hunting, went for nearly 14k/acre.
Should think of doing a Quad Loan on farm land.
Our local land prices have skyrocketed this year (2024). I'm not even joking, it cost $4,200 per acre in January, in June one acre cost $8,400 per acre, and right now, there are 60 acres listed this month (November) on my same road for $12,600 per acre. It's less than one mile from our 80 acres. When prices doubled to $8,000 this last summer I kept watching the listing thinking nobody would pay that price, they sell in about a month. We are 20 miles outside a smaller city. Our entire county has one high school, that's how small the population is but land prices are still going up fast.
I'm old but I like your vids. Thanks
So I'm curious - what do your operating expenses look like so far? I'm particularly interested in seed and treatment costs per acre (fertilizer/herbicide/fungicide, including the service), overall equipment costs, etc. And what would you say are reasonable profit projections come harvest time, and do you have some sort of access to a harvester? I'm curious how all of that stacks up alongside those loan payments and such. Because if, after factoring in everything, this looks to be financially sustainable, I might end up being one of those 50 to 100 people you mentioned. But I've really gotta know more before giving any kind of serious consideration.
Honestly, if I were to embark on such a journey, I pretty much see me starting out with an antique 8N and some very small, very old (read: "very easy to repair") equipment on MAYBE forty to fifty acres.
I have no interest in buying land or starting farming but the channel is very interesting to me. I also really like the analytical and number crunching metrics. Thank you for sharing!
I think you should construct wooden gate in the river, so you can elevate ground water levers in dry months. In wet season you can open gates and don;t bother about flod.
I wish you luck for harvest season. Thanks for the financial info, I’d always wondered how the farmed out west because I’m from the southern u.s
You too can benefit from agricultural investment, heard of Agro farms investment?
This company gives people the opportunity to invest in their farms and receive daily ROI without you doing the hard work.
just subscribed, hope all the best in your endeavor.
Thanks for sharing! Buying a farmland is always on my bucket list
Do you know you mustn't own a farm land to benefit from agricultural investment, heard of Agro farms investment? They give people the opportunity to invest in their farms and receive daily ROI without doing the hard work. It's a very safe investment
Just want to wish you all the success in the future, Champ!
As per the steering, check for play in the track rod ends or any ball joints on the front of the tractor buy jacking it up. Have seen others do the same as this.
while signing the papers at the bank an old song can be heard on the radio in the back. "this land is your land, this land is my land... Ha Ha Ha good luck.
on the atu if it was straight before id look at the globe and see if it is loose and same thing with the atu just pop the logo off and see if that bolt is loose we had that issue and tightening the bolt up a bit seemed to fix it.
Thanks for the tip!
Hey spencer. I am a farmer as well, only in the Netherlands. I heared yours question about why the corn was growing better on the part that hasen’t been farmed for years. I have an idea what the cause can be. I would test the soil in both places for organic matter (the farmed and not farmed pieces). Gras naturally produces organic matter each year and therefore it’s likely, that those parts will be higher in organic matter. Organic matter helps with storing water and nutrionts in the soil. You said that after planting you haven’t had much rain. That’s why I suspect that the higher organic matter in the not farmed pieces helped store the rain you had before planting. That made it easier for the corn to germinate and grow. Do you also see a difference in yield between the pieces?
Hope it is successful
It’s all in that tracking sensitivity setting seems like it’s set to sensitive. I ran one on a spra coupe spraying 10mph and I was always having to mess with it. Went to hydro steering valve to turning back.
If you don't, someone else will. Then it's gone. Glad to see you found a way.
I purchased 30 acres with a house and barn for $75000 in 1984 .
I was offered a crazy amount when a large foundry moved into the area .
Yeah land is almost always a great investment for retirement or profit. I bought land when In 85 and been offered 14 times initial cost. I could break it up and get 20 times more. It’s river frontage property
Thanks for the education.
Good Luck on your crop. Hope you get max production and a good sale price.
I haven't seen traditional tillage in a while. I was born and raised in Michigan before no till was much of a thing there. Everything was plowed and disked before planting. Where I live in Kentucky now, there isn't a ton of topsoil, almost none actually, and traditional tillage doesn't work well because all your topsoil would be at the bottom of the hill so everything is drilled in no till here.
The 4020 Deere is a great old tractor. You'll really appreciate that front loader too.
Hello Spencer I like the video wend harvest come you drive Grant combine at your farm
You guys ever think to drop organic matter on the field and not til? Seems like you need more carbon matter in your soil.
Algorithm is working overtime, we're looking in Florida for deals.
Great video.
Land is only about $5000 per acre in my area. I think it is going to take a huge drop in price in the near future. I made 15.7 bu per acre last year on corn, about 1/10 of a normal yield in our area. Our corn was looking great this year, but we went about 2 weeks without rain so it is hurting bad now. Luckily I am all soybeans this year.
Why do you think prices will drop? There may be small corrections but in a lot of areas, prices seem to be set to continue to increase. Prices are local though. Some areas may drop severely but then you'd have to ask yourself why.
I am genuinely curious. My wife and I are looking to move out of a big city and to a smaller town/city and get a small lot of land for a homestead and light farming. Why and where do you think there will be a huge drop? We aren't set on a particular state but want to head more north. We are in So Cal now.
farmers do a tough job. thanks for stepping up.
You to can benefit from agricultural investment, heard of Agro farms investment? They give people the opportunity to invest in their farms and get daily ROI without doing the hard work.
I always ran a diff lock when I used the steering boxes before integrated valves. Takes a noticeable amount of darting out. Tap the brake on the end to cancel it out, tap on again once line acquired.
Nice thanks for the tip. Will give it a try if the issues is still there. Thanks!
Your presentations are very excellent
Good for you. Good luck!
With the atu, put the differential lock on, our 8220 had the same issue and I think it’s just because the rear wheels were working against each other
I suppose I should add that this did fix our problem for the most part
Strips could be anhydrous burn, we had fair amount this yr with dry weather
I looking for everything I can put in my head to start my own farm
Like you, I started farming on my own in 2009. Hadn't been on a working farm for 20 years. Very steep learning curve. What ive learned in corn is having a great seed bed is the most important thing that does not get enough attention paid to it. If there is time and I just should always make the time. After I get done field cultivating the field I will run a land roller over it. If it's not terribly dry and it needs to be field cultivated twice do it twice. And I take a lot of time to get every role of seating depth exactly the same. It's kind of nerve-wracking knowing that you should be going rather than messing around for an hour or more fine tuning seed depth but it pays. Fertilizing and weed control are very important but kind of a no-brainer. But again the seed bed is very important in corn.
How you planning on making that back? That is a lot of $$$ for only 50 acres.
Thanks for the video. I'm looking at doing this as well. Not too much info on this subject.