Posted by Goose on January 07, 2015 at 12:02:32 from (70.198.36.195):
In Reply to: Buying Land posted by picassomcp on January 07, 2015 at 08:53:15:
Coupla years ago, I sold a farm to the next door neighbor for $8,000 per acre. But, he and his son farm over 2,000 acres. (Before people go berserk over a BTO, I've known the guy since he was a teenager and you'd never hope to meet a nicer guy).
It was a private sale and I didn't even have to advertise. I approached his wife one evening, and the next afternoon he was over with a loan officer from the Farm Credit Bureau.
But to answer one of your questions, he could do it because he had a large operation to blend it into. At 8 large per acre, there's no way it would cash flow.
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