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 - Show Coverage: Godfrey, Illinois Country Days - by Cindy Ladage. Except for last fourth of July's Old Gold show in Springfield, Illinois, I don't remember when it was so hot. Nevertheless, the heat didn't keep vendors and visitors alike from enjoying the third annual Country Day's Event. Jane Elliott said the event was originally a one man show. "Barry Seiler, owner of Country Town Farm Supply store used to invite people up to the Johne Deere store. He would give hats and a free meal for everyone that brings a tractor." Elliott said while this
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