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Leasing your managed grassland

 
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I was just watching Greg Judy on YouTube, at a conference in VA in 2011 (http://www.youtube.com/watch?v=W6HGKSvjk5Q). I was rather intrigued by the idea of managing grassland and leasing it to local cattle farmers. They would pay $21 a head, per month, for cattle to graze on his land. He says this is what he did to get out of bankruptcy.

I wonder how much he was really involved with the cattle. If you had little time invested towards them, this seems like a great thing with little risk.
I figure, over the long run, it would be more profitable to get your own cattle on your own land. But, if you have the open land and are just getting started, this seems like a possible route not only to introduce you to intensive cattle grazing but get some income with little investment and risk. But, I could be wrong.

Has anyone here tried this or similar land leasing?
 
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