Back in early 2000s, we took over the farm from my folks, remodeled the house, etc. Was way more debt than I liked, but way less than most people our age were into for just a home mortgage. Paid it all off in less then 11 years, started with the college tuitions and upgrading equipment.
About that same time, the 40 acre open ground right next door sold at auction to a local car lot wheeler/dealer with a farm background. 40 acres for $6K per. He tried to perc it and build houses, then threatened to put in a dirt bike track, but eventually just rented it to the same guy. About 3 years ago the for sale sign went up at $12K per acre. Seems he wanted to cash out to build a new dealership. It still sits there, the sign has fallen off, but not sold. None of the three BTOs have jumped on the land, it is marginal at best. But being next door, it has always intrigued me. Right now, I can't justify offering him even what he paid for it back then- I don't even use all the land I own now, what do I need another 40 for? And even at $150 per acre rent (high for our area), I can't see it pencilling out
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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