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Texas | Lucky around here to make the payment with total net proceeds off owned land.
Outside money/city dwellers looking to get money in tangible assets. Taxable value on my house and land doubled for this year. That’s right doubled this year. Because people from elsewhere are paying 3x the going rate for rural homesteads fleeing the city. Investors paying top dollar for farmland that rents for a 2% return. I kid you not, that’s being generous on a lot of it. Some idiots paid 50k for a 5 acre chunk of mesquite pasture and hollowed out an area and set up a tent. Dirt road, no electric, no water well, nothing literally a 5 acre tract inside a cattle pasture that would have sold for $1200 an acre. The realtor has to be swimming in money like that duck guy in the cartoon. (Guy paid $650 an acre tops for the whole place a few year ago) | |
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Cost vs Return of Farmland, Opinions please
