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WC MN | OK lets take your example. A 160 farm that sells for $10,000/acre is $1.6 million. You say they are putting half down which is $800,000. That means they needed before tax money of well over a million dollars to have that kind of cash laying around. Then an $800,000 loan over 10 yrs leaves a $630/acre payment before RE taxes. Even out to 15 yrs that's $490 before real estate taxes. I figured 5% interest, maybe some do better. I think many are still leveraging, that's what lenders have been telling me all along as well. | |
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Southern Illinois Landsale
