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| I have the oportunity to buy 63,000bu (27,000 + 36,000) 5 year old storage, very good condition, 10” power sweeps for $1/bushel. Bins would stay in place on that land which someone else owns. The land owner also owns another larger bin on that site which I rent. My attorney tells me we can get an easement/leasehold improvement agreement allowing me access indefinetly to these bins. Would really prefer bins bigger than that. These bins probably 5 miles out of my way depending on which farms fill the bins.
Eventually I would want to build larger bins at a central location but for reasons (not financial reasons) that are a long story it may be quite a while before that is an option.
I figure carry and basis improvement will pay for the bins in 4 years. If/when the centralized storage becomes real I could sell these... if someone is willing to buy bins on someone elses ground?
What would you do? | |
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To buy the grain storage or not?
