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Southern Alberta | Son is 16 yrs old and not even sure if he is going to farm. I am hoping he does something else in the world first and then comes back to farm in 5-10 years. That way he will be making an eyes wide open decision to farm, not just farming because it is the easy route to join dad now.
I don't have a great diversity to my investments or assets. A couple of stocks and t-bills, but most of my money lies in machinery and land. It has worked ok for me, but I do worry that the next string of poor years could be just around the corner.
I have put in a bid on the land and have to wait a month for a reply.
Just feeling others out on the forum as to a great place for future investment. I do not seem to have the ability to make my fortune in the stock market. After 20 years of yearly investing, I only seem to have about 20% more dollar value than the total of all the money I have put in. With the laws of compound interest, it should have been a tidy nest egg.
Thought that maybe rental property would have been a good thing, but in reading these posts you need to deal with people and all their small issues which does not interest me. Perhaps commercial real estate would be better. If farmland is at the highs and houses are at the lows it makes more sense to buy a house than dirt. Wish I new if farmland is at the highs.
Buddy in the real estate rental business claims that the rent makes the payments if you had 1/3 down to begin with. He bought a few years ago with the idea that after 20 years of ownership he most likely will have an asset to sell that is worth 2-3x more than he paid. Most farmland here since 1978 has only doubled in value from the lows. My stock investing has done even worse. | |
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good time to buy land?
