Posted by Dave from MN on November 01, 2007 at 04:22:28 from (67.133.91.236):
In Reply to: buying farmland.... posted by need your advice on October 31, 2007 at 19:46:32:
If you can do it , do it. 80 acres adjacent to your family farm, NICE. Cant say nothing about the price,$4000/acre here is a bit below average. You cant really base buying it for cash flow, unless you are gonna be dependant on it to pay for itself, Sounds more like you want to buy it as a life investment, having your own land is the best investment you can make(in my opinion), it ussually pays off financially over time and does alot for your personal and emotional investment in your life. Look at it this way, God is not making any more land(short supply), people are continually gobbling it up( high demand), grab it when you can get it. IF, and only if, you can make the payments using 50% of what you expect to make for income from the land, and your regular income. As people suggested, check USDA loans, some states have rural financing programs for farms/ag land also. Good luck
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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