Posted by Chris in ND on August 18, 2011 at 23:39:32 from (75.61.102.36):
I rent land from a guy I went to high school with. A farm kid, he went to the army, college, and the west coast and I guess did well. He ended up buying most his dads and grandpas farms, and at a auction bought some neighbors land. He worked 1031 exchanges as well as anyone. I rent 480 farmland acres from him and anouther guy we went to school with rents 1120 acres, about 1/2 farmland and the rest pasture. He has always been fair, helps when he is around, and accepts a little below the going rate for cash rent. So a land auction is comming up. 320 acres next to him. We all want it. Tonght he is in town and took us out to supper and finally says, "I would never tell you guys how to farm" and "you guys would never tell me how to be a land lord, and we all recognize everyone has a right to try to make a living". "However if either one of you bids against me on that land, I won't rent anything to either of you". I guess I will set this one out and hope to rent some more land from him next year.
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