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Re: Re: Re: Ideas on purchasing a farm
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Posted by Mike (WA) on December 10, 2003 at 08:10:41 from (209.213.155.132):
In Reply to: Re: Re: Ideas on purchasing a farm posted by dhermesc on December 10, 2003 at 07:20:03:
A couple of observations- You'll never go wrong getting a place as close to civilization as you can afford (that is, if you're raising hay or some other innocuous crops- livestock is another story- neighbor problems). When you talk about "preservation farms" I assume the "developement rights" have been removed, and it will forever be a farm- but those farms will increase in value also, as more rich people look for "rural retreats"- and the closer it is to civilization, the more it will be worth. These folks want a "rural lifestyle", but when it comes right down to it, the Mrs. doesn't want to be too far from the Mall. The side bonus is if it ever does become develope-able, it'll be worth millions, and if you still want to farm, you can take your cash to Illinois and do it right. Also, the 1031 exchange is a good idea- there are companies that do nothing else, and that's who you want. Most real estate attorneys will not do it correctly, unless they specialize in it. With the proper help, it's no more difficult than any other transaction. Good luck to you- it sounds like your head is pointed in the right direction.
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