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southern MN | As land prices fluctuate so much, and as fertilizer and fuel and crop prices also go up and down, it will be very difficult for both of you to look at any arrangement as fair, balanced, and remain friends for the next 20 years.
Basically you start out with nothing, he starts out with a heavy dept investment.
Over time, you gain the land, and what does he gain? Some income while the farm ecconomy holds together, but could easily be losses when the bubble bursts, as well as lowered land values, as well as losing assets to you.
I don't see a graceful, honest, good way to do this.
Some day your friend will meet the wall, and realize he is going to lose on this situation 80% of the time, and look for other avenues than to trade off hard assets for simple labor...
Sure sounds like a good deal for you, tho, if that's the deal you can get?
Paul | |
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Buying land: Kinda a weird question.
