Posted by Dave from MN on November 01, 2007 at 04:22:28 from (67.133.91.236):
In Reply to: buying farmland.... posted by need your advice on October 31, 2007 at 19:46:32:
If you can do it , do it. 80 acres adjacent to your family farm, NICE. Cant say nothing about the price,$4000/acre here is a bit below average. You cant really base buying it for cash flow, unless you are gonna be dependant on it to pay for itself, Sounds more like you want to buy it as a life investment, having your own land is the best investment you can make(in my opinion), it ussually pays off financially over time and does alot for your personal and emotional investment in your life. Look at it this way, God is not making any more land(short supply), people are continually gobbling it up( high demand), grab it when you can get it. IF, and only if, you can make the payments using 50% of what you expect to make for income from the land, and your regular income. As people suggested, check USDA loans, some states have rural financing programs for farms/ag land also. Good luck
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Today's Featured Article - The Day Mom Drove the 8N - by Brian Browning. My Dad was wanting to put in a garden but couldn't operate the 8N and handle the old horse drawn plow he had found and rigged up to use with the tractor. Well, he decided to go get Mom out of the house and have her drive the tractor while he walked behind the plow. You got to understand that while my Mom is a hard worker who will always help whenever she can... she had never operated farm machinery before that day. Dad got her out there, explained how the clutch was the same as in our o
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