Thanks very much to all those who made comments and contributioned their experience.
Much of Nueva Ecija has a beautiful vista, even though it's rather flat. Much like East Anglia. I always enjoy my visits there.
The lady who will sell the rice field to me has really a lot of rice fields and runs the whole business herself. Some rice fields she rents, she also loans money to the rice farmers to prepare for the next harvest.
She is a very interesting person and has a good sense for life. Never been married (or even boyfriend) and no children. Her parents are still alive and live with her. She is the one in that area who controls/employs all the 'caretakers'.
This is done with the help of her two brothers.
She is a long time friend of my wife and myself and we always visit her and her family whenever we can. It's about 4-5 hours drive from our house in Marikina to her house.
As I mentioned, this is not a business venture.
The land itself would be a potential long investment.
The rice growing would be an additional opportunity if any of my family care to become involved It would be as I indicated one way to put food on the table for all concerned.
I feel comfortable with my cost analysis.
My estimate for yield is 3000kg unmilled per harvest
Total cash cost per harvet is estimated at P20,000
Estimated value of harvest is P40,000 (After deduction of 15% for the 'caretaker')
Based on your comment Fred I will double check this 15% is the max)
So the amount of money involved (P20,000) is not large.
The opportunity for the family in the area is significant.
It would be in their own interests to be sure they maximise their own 'takings'.
I do not believe the owner or her brothers are intent on ripping me off. But OK I do listen to what has been said here and will wait and see, as I said it's not big money.
Hybrid rice appears very well accepted in this area, and I have been told that 3 harvests are possible.
As I said this lady has plenty of rice fields many of which border the roads.
Fred, do you think that there is a chance that any of this land could ever be converted to residential in the short term??
Steve, you can see the numbers. This is not really a business idea for westerners, unless you can meet all the comments made in earlier posts and do it on a much larger scale. But remember, the weather, pests and unforseen losses can wipe out any income.
Fred has made a valuable comment which I totally agree with. Property is the way to go. Just wish I had some rental from my properties!!
