Re: OT - What to do with 17 acres....

Posted by TomR Ont. on October 30, 2004 at 17:57:06 from (209.226.138.41):

In Reply to: OT - What to do with 17 acres.... posted by farmerboybill on October 30, 2004 at 06:22:56:

Go crazy - If you have at least 30% equity in it
after you buy it and don't go over 70% of your total annual income, to head off a possible 3-4% interest increase or a 20% decrease in value or both, so you can get a mortgage renewal in say 5 years.

Always remember the '80s 10%, going up to 26% for renewal mortgages.
Land is always a good investment, if you can hang in there when it gets, rough & tough.

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