Thumb of Michigan | MaineFarmer - 2/19/2024 07:10
If you 1031 to more ag land have you diversified? If you sell and keep the $$ ,,in 10 years will you be unhappy with the pile of $? If you lease it for either development or solar it will earn you income for your life.It sounds if it is very possible to lease it for almost any use.There are many reasons to lease and not sell,IMO.Who cares if it is leased to solar or say a truck stop etc?Your cash flow should be quite good for many years,,even your children will benefit.Of course you could sell,,buy a fancy pickup or two,, pick up more rigging ,,more stress in more acres,,,hmmm...I would find a good lease...
I've found it easier- in fact MUCH easier- to find replacement income producing real estate that isn't farmland. I would like to trade into more farmland. I think I understand it better and I'm comfortable with it. But, if one was to sell a farm and is looking to do a 1031 into other income producing property thats diversified from ag, its not hard at all to find. |
Ground for developement/solar
