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w-Mn | Your going to have a tuff time trying to compete with some of these landowners. A lot of the land is old family land or land that was bought 20 years ago for a lot less per ac than now days. We have a landowner that we rent from that has land that was bought for less than a $1,000.00 per ac and land that was bought for over $7500.00 per acre. The rent is the same per ac, so how many times over has the rent paid for the $1000.00 per ac land, not counting the gain in equity? We also have some guys that have bought land in the last three to four years that has lost over $2,000.00 in equity per acre. $150,000.00 loss of equity does not help the balance sheet either. A lot of it is being in the right place and time to be able to jump on a deal. I don't know if that time is now or in the next few years. Guys remember the bad part of the 80's but there were some opportunities if you had the means to jump on them. There were some fire sales around here at that time, $500-600 bucks per ac bought a lot of ground. My advice would be to get as much debt payed down as possible and try to build some cash for when a deal comes along. | |
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Different outlook on things!?
