Probably not helpful here, but will throw it in anyway. Back in my working days I became acquainted with a small building construction/ real estate owner outfit. Father & 2 sons operation. Beside doing construction, they owned a mix of residential, commercial, & farm land. Not a hard rule, but a starting point. This was in southern Mn, close to Paul, Flying Belgian, & Kow Farmer. The old man said rent income should be 1% of cost monthly. That would pay for the investment, real estate taxes, insurance, upkeep, & a reasonable profit. Eg: a $500,000 commercial building should bring $5,000 rent monthly. Single family residential they wanted 3/4 of 1%. Farm land was split rate. Tillable land brought 1/2 of 1%, while a building site brought 3/4 of 1%. Tillable land was taxed at a lower rate than building sites, & didn't have structures to insure. A 500 acre farm with 5 acres of buildings would be 495 acres at 1/2%, while the 5 acres with house, barns, sheds etc brought 3/4%. Being in the construction business, they had a close tab on their costs. Times have changed somewhat, interest rates are a lot lower now. Also farm land prices & building construction costs are higher now. Willie
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Today's Featured Article - Bad Vibes - by Curtis Von Fange. One of the strangest ways to communicate with our tractor is to ask it how it feels. "Ask it how it feels," you say? Yup, ask it how it feels. Now, as with the other articles in this series one has to be able to hear what 'ole blue' is trying to say in response. The nice thing about our old iron friends is that they are usually quite consistent in their response, rather unlike some people I know who might change what they say due to the weather or other mitigating circumstances. But since t
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