Now you guys are into a whole nuther discussion...I did not suggest he develop the land into houses or commercial buildings...I suggested he rent it for pasture.
The housing bubble was driven by foreign investment and accomodative interest rates made possible by the federal reserve bank...when it popped - the buyers and renters evaporated and you got unfinished subdivisions and unrented commercial space - thats a whole nuther discussion as well as one that was easily foreseeable...
With respect to too much fertilizer - that is silly - make em sign a contract for rent... if they loose their butts on fertilizer...NOT YOUR PROBLEM! They pay just the same!
Also - don't talk to one person - advertise you are taking bids in multiple local papers for pasture ground...See what comes up.
One person telling you 10.00 per acre is NOT doing your home work.
And again - take a look at the lower counties of iowa...their assessments are lower - they generate less revenue because they can't pay any tax revenue because their 15 year old CRP or Cons Eastment payments don't buy what they did when they signed the contract...its called dollar DEVALUATION...and its gonna get allot worse in the very near future...remember the fed???? its on QE3 right now - printing 60 Billion per month! This monetization is going to cause Grain to continue to soar to new hights....combine that with real cattle and hog shortages and those comm's are going to continue to soar - cattle prices and hog prices will explode....
You are sitting on an income maker - its up to you to decide how to make it prosperous...
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Today's Featured Article - New Hitches For Your Old Tractor - by Chris Pratt. For this article, we are going to make the irrational and unlikely assumption that you purchased an older tractor that is in tip top shape and needs no immediate repairs other than an oil change and a good bath. To the newcomer planning to restore the machine, this means you have everything you need for the moment (something to sit in the shop and just look at for awhile while you read the books). To the newcomer that wants to get out and use the machine for field work, you may have already hit a major roadblock. That is the dreaded "proprietary hitch". With the exception of the
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