Posted by notjustair on January 14, 2016 at 09:04:41 from (162.221.229.230):
So I got a call from a landlord that they want to sell the ground that I farm. They are giving me time to think it over, but I think I have to do it. 110 of the acres are on the east and north of my house and farm and the 80 is right across the road. I've talked here about how I think we may see a repeat of the 80's so I am more than nervous. I've farmed it for years so I have records of the income from it and the oil wells on it are a substantial monthly income. Interest rates are definately not at the level of the 80's.
Land is always a good investment unless it is not useable. This is, but the rate is $3500 an acre. I know in some areas that's nothing, but it sure is higher than the last time I bought ground.
Sorry, just looking to vent I guess and for someone to tell me to do it. You can't afford to loose farm ground and stay solvent, I just didn't anticipate this land lord (the oil company) wanting to sell. Ugh!
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