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 - A Brief History of Tractors in Australia - by Bob Kavanagh. After Captain Cook's exploration of the east coast in 1770 the British Government decided to establish a penal colony in Australia. The first fleet arrived in 1788 and consisted mainly of convicts who were poorly equipped and new little of farming techniques. The colony remained far from self-supporting and it was not until the early 1800's that things started to improve. Free settlers started to arrive, they followed the explorers across the mountains and where land was suitable set up farms. T
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