Posted by need your advice on October 31, 2007 at 19:46:32 from (69.218.213.167):
Hi, There is a farm coming up for sale next to my parents farm. I have a great job and work off the farm, yet help plant and harvest the crops on my parents farm. Now with the neighbors farm coming up for sale, I would like to buy her land. I need a bit of advice to see if this makes sense before I pursue it further. Typical yields are 45 bpa for beans and 150 for corn. I expect it to sell for 4,000/acre. It is 80 acres, so estimate purchase price would be $320,000. I can put 10% down or $32,000. With typical interest rates, would this land cashflow if I brought in $175/acre net from farming it (either renting to my family or on shares?) How do I calculate this?
Just aweful hard to pass this up as my great, great grandfather used to own and farm this land in the 1800's and it has been out of the family since then. Of course, maybe my money is better(safer) off in the stock market the way things are going there...what are your thought? I value your opinions...
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