| JUST LEARNING - 9/10/2015 13:56 Are you currently renting 3k acres? If so I would hope you have at least 400 per ac in operating equity. That would be 1.2 million in cash plus probably another 500k in equipment equity. Keep 100k for equipment and 100k for operating and that leaves you with 1.5 million down on 300 ac. Live poor retire wealthy or impress the neighbors and never retire.
If I had $1.5 million down the banker wouldn't even loan me the rest of the money needed to buy 300 acres.
300 good acres in this area would cost ~ $3,750,000
$1.5 is only 40% down and you'd be borrowing $7500/acre. Last time I talked with the local bank they weren't looking to loan anywhere near that much $/acre without a lot of collateral backing the loan.
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how to get some ground?
