|
south central IL | I bought 80 acres 5 years ago for more than I really wanted to pay. When I bought it I got the opportunity to rent a nice 150 acres at a reasonable price. Three years later I was offered the chance to buy the 150 (one very nice field) for 1500 more per acre than I paid for the 80. Grain prices were not very good that year and crops in our area weren’t very good either. I passed on it but I get to custom farm it for the guy who bought it. There was a land auction in the area a year and a half later and an 80 next to it brought $6,000 more per acre that what the 150 brought. Now there is a 160 acre field for sale across the road for double what the 150 sold for. I had no idea that it would have done what it did but I kinda regret not sticking my neck out. | |
|
Kubs Den “ INSANITY OF PAYING 7% ON AN ASSET (FARMLAND) THAT ONLY EARNS 2%”
