New farmer needing advise
Hi I am looking for advise, I am new at this. I have 1000ac of cultivated land, have tractor and seeding tool, misc tillage items, discs, harrows etc.. I have everything to get a crop in the ground. Now out of money. So no grain storage, combine, grain truck. No sprayer. Not many custom operators around. I do not own hay equipment. I don't want livestock. What would you do at this point? From what I can see my options could be:
-rent the land to established farmer
-spend/borrow about $100,000 for 'pretty good' hay equipment
-spend/borrow the same amount and get some used storage bins and probably lower end combine and truck.
Not sure what to do, any money potential in this, or keep the day job (I would anyway, just not sure if I should keep throwing money into the farm or if it is a losing proposition). If there is money to be made then it is worth more investment I think. I am in Canada.