I know someone that owns their avocado farm outright near Temecula and they do approx $100 per acre per year renting it out about 7 years ago for approx 200 acres. I own 1200 acres (900 tillable) in ND and rent it out for 35K per year. If you own it outright and you don;t need the money to live, then you should be OK, if you owe $ and something goes south: water, fertilizer, gas, weather, commodity prices, etc. it would not be worth it and you might lose it. If you are leveraged to the hilt you will surely fail as something always happens 15-20% of the time.
My family has owned that farm since Teddy Roosevelt signed off on the deed, my ancestors nearly lost it several times and my parents were able to ride out bad times once about every decade because it was extra income and was not needed. we learned from them and have not taken any chances, but we have been stiffed for half the rent one year out of the last 11, even while being extra conservative and charging below average rental rates. Lucky we don’t NEED it as well.
I think it is awesome that you were able to keep the family farm and if things went down hill in California, then you would have a place to go to, assuming there is something in your agreement to that effect. I would love to have another place in a rural setting.
I think it is awesome that you were able to keep the family farm and if things went down hill in California, then you would have a place to go to, assuming there is something in your agreement to that effect. I would love to have another place in a rural setting.
I think it is awesome that you were able to keep the family farm and if things went down hill in California, then you would have a place to go to, assuming there is something in your agreement to that effect. I would love to have another place in a rural setting.
I think it is awesome that you were able to keep the family farm and if things went down hill in California, then you would have a place to go to, assuming there is something in your agreement to that effect. I would love to have another place in a rural setting.
I think it is awesome that you were able to keep the family farm and if things went down hill in California, then you would have a place to go to, assuming there is something in your agreement to that effect. I would love to have another place in a rural setting.
.
