Posted by Joe in Neb on November 20, 2009 at 16:57:36 from (207.5.116.146):
In Reply to: 1031 Exchanges posted by NY 986 on November 20, 2009 at 14:45:52:
As one who has used the 1031 I have to say if you are going to farm it you will never be able to pay for ground. The prices are just to high. Your lucky to be able to farm the interest out of it if you have to buy and borrow. I was fortunate enough to buy ground years ago for a cheap price and have it go up beyond my dreams. I used to farm but really don't anymore. You need to find someone who will rent you the ground for a reasonable cost. My goal is to rent my ground to a young farmer new in business that needs a leg up. The problem is I have to much ground for just one young farmer to be able to finance his input. Just hang on and keep trying and visit with people. You will find someone who will be able to see what you are trying to do and hopefully help you out.
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