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near dyersville iowa | I cant find a farm that would cash flow from a 10% down payment today, but i guess i havent figured in the new corn prices. Neighbors farm sold for 6800(with buildings, approx 200k,80 acre farm) Maybe im not using a sharp enough pencil, but i think the best i could do on that land, at my projections at least was break even until it was paid for 20 years from now, with a 10% down payment. Now I understand ive done some things wrong in the past, but coming up with 3k an acre to put down is going to take me a couple years. Now using older ground to leverage new additions is easy when land prices are going up, and i know land prices will probably never return to 800/acre, but at some point it has to get to where you cant do that anymore? Im just thinking out loud here. Kind of like contracting corn for 7$ three years out, you can rent lots of expensive land, but what happens when the best contract you get is $4...rent has to come back down, its a matter of time. Sorry, this post seems to be all over the place, sometimes i have trouble keeping my brain focused, lol. | |
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Land Market
