Managing a farm is a proven concept for people who want to earn additional income. Many young people are leaving corporate jobs to work on a farm. Owning a farm is a lot of hard work, but it can be rewarding in multiple ways.
Milan Kordestani is the CEO of several companies. He owns Milan Farms, which is a farm that specializes in exotic pets. He started the farm many years ago, and he has had success building a brand in the industry. He recently gave a speech to local college students about starting and managing a farm. Anyone who is interested in starting a farm should listen to his advice.
One of the most challenging aspects of maintaining a farm is paying for the land. Few people have the cash needed to purchase several acres of land. In some rural areas, there are unique loans that people can use to buy farmland.
Milan recommends that people research multiple loan options before deciding on a specific financial strategy. Some farmers go deeply into debt and later regret their financial choices. A farm may take several years to become profitable, and new farmers need a large cash reserve to live on during this time.
Raising and selling animals is an excellent way to earn income while owning a farm. Some people struggle to choose a specific animal to raise. Both chickens and pigs are relatively easy to grow and can be profitable.
Chickens require little interaction and can be raised for eggs or meat. A pig can reach maturity in just a few months after being born. New farmers should start off with only a few animals and expand from that point.
Milan Kordestani also encouraged young students to follow their dreams in life. He believes that too many people wait until later in life to pursue various goals.