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Losing my family farm
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redoak
Posted 3/20/2023 06:10 (#10148945 - in reply to #10148812)
Subject: RE: Losing my family farm


sw ontario
Clay SEIA - 3/19/2023 23:34

davpal - 3/19/2023 15:07 Buy it from them.


Easy to say, but real estate which has many hands in it is pretty poor collateral for both buying itself out and maintaining enough liquidity to cash flow input costs at the same time.  And if those hands would rather squabble than work the process with the goal of a successful and intact income, then it's a train wreck.   



+1 - here , 20k land , 5-6% interest ,+ principal ,+ taxes ...Minimun payment with 0 down would be $1,200 acre

This big run up in land appreciation will cause a lot of problems for parents, heirs,siblings. Maybe 20 yrs. ago a $100k life ins. for each sibling with the farming child getting the land looked pretty fair. Now land maybe worth $10 mil. or whatever + machinnery,inventory .... hard not to have hurt feelings by some

And its been a long time since many kids as adults worked for there parents with sweat equity and promises , most got compensated way better than what parents would pay an employee
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