Dougherty, IA | happyfarmer - 9/8/2014 07:30
I believe Coup understands how it's done and I'm sure there are others. 5 Bean we farm more than you and 70% is owned and paid for. I know lots of individual operators that own 1,000 +/- that r paid for. The amount of guys that own 500-1,000 is even way more than that.
Hardly anyone around here (NC IA) owns 1,000 acres, nonetheless owns 1,000 acres free and clear. It seems that anyone who does own 1,000 acres inherited a good chunk of it early in there career, then leveraged that land to buy more. Not saying that is good, bad, or indifferent, just saying that is the type of person here that owns 1,000 acres. The other type that owns 1,000 acres free and clear is the 75 year old that is still chugging along on cheap land he bought years and years ago.
I can think of about 4 individual farmers in my entire county that own 1,000 acres. (or operations in which many family members are involved where the total amount owned by the family corp = 1,000 acres per family making a living from the corp). I don't know what their debt situation is on these acres, but a land records search would show that. Seems like the typical owner-operator here owns 200-500, depending on age, and some guys have done very well and own 500-800.
Congrats to you for owning and paying for a bunch of land, it sounds like you have done very well.
What do you mean by coup (and others) understands how it's done? |
Paid for Land
