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Stamp Farms bankrupt
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rodrod5
Posted 12/5/2012 12:19 (#2734284 - in reply to #2734185)
Subject: RE: How Many of those Creditors...



Lubbock, Texas
XIX - 12/4/2012 22:08

Except for the obvious businesses listed, They are all landlords up here. Starting at $780k.


I was thinking that as well and WOW it really did not hit me until I did the math

$780,000 / $400 per acre rent = 1,950 acres

$780,000 / $300 per acre rent = 2,600 acres

I would not consider someone that owns 1,950 to 2,600 necessarily to be in the position to withstand a hit like that financially.....don't get me wrong that is a very nice amount of land, but depending on if those people owe money on that land, if they have "refied" it, or maybe they have some other business interest they left farming to concentrate on that are struggling......that could be a pretty huge hit....hell it is a huge hit to anyone in total dollars, but I would not think that every landlord out there was just looking at $780,000 in rental income as unencumbered money that was going right into the bank with the rest of the cash

Edited by rodrod5 12/5/2012 12:20
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