Re: Re: Re: Re: CRP payments

Posted by dhermesc on December 30, 2003 at 06:50:49 from (65.149.3.181):

In Reply to: Re: Re: Re: CRP payments posted by Dieselrider on December 29, 2003 at 14:38:16:

They use the profits of land already paid for to subsidize new land purchases. I am starting out from ground zero and subsidize my land purchases with my job in town. Instead of buying a boat or SUV I keep driving my 10 year old car and apply those payments to land and equipment purchases. Hoefully it will pay off in 20-30 years.

Biggest land buyers in my area (Eastern Kansas) are guys who have never lived or worked a farm in their life. Rich guys who have lost millions in the stock market and pulled it to buy land. Even with only a 2% or 3% return of equity through rent they figure its better then 1% CDs and 10% LOSSES in the stockmarket. They are also planning to gain 5% a year in increased land prices. Thats a nice solid 7%-8% return on your investment, and its not like the land is going to dry up and blow away like their ENRON stock did. Lately anything bigger then a half section has sold this way, and the smaller tracts go to guys who have been farming for 20-30 years. I was extremely lucky I got the 40 acres bought, if it had better access somebody else would have out bid me in a heart beat.

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