wbstofer - 12/29/2024 07:50
coup - 12/29/2024 07:10
RCR - 12/28/2024 19:34
Many multi gen farms you arent competing against right now.
We have paused all further land purchases, indefinitely.
Not a lever the paid for dirt time. They are reserved to take care of the retiring generation.
Its a race to pay it all off. Add 100 acres for 1.5 mil is DUMB!
What do you do when land comes up for sale, you surround it on three sides with ground you own, ground for sale will probably never generate positive income, and you wouldn't need to leverage other land to buy it?
This actual situation happened to me. 4th side was a RR track. Have wanted the farm for 30+ years, and I passed at $30k/tillable acre. I refused to leverage other paid for dirt for the deal, and I didn’t have enough down payment to keep it its own deal. I would have had to put up 2x paid for acres for the bank. Sold for cash to an ‘investor’ and he’s putting up a $3M sports complex. Maybe my kids will get another opportunity to buy it some day…
Edit…I’m sure I’m not the only one that has had this problem on NAT.
Will the younger farmer not accept an opportunity when given?
