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Nw Iowa | First of all 1000x20000 works out to 20 million. (In our area land was at $10000 but Definetly down from highs and probably cheaper after this fall ) I think the government would take approx 25% so now you are at 15000000. Now that is a lot of money but go try and buy a 1000 acres in a good area and see what it costs. I feel our land on northern Iowa and southern border is very productive and although I know Illinois can probably pretty consistently beat us I don't want any part of their politics and taxes. Point I am trying to make is that it is not quite the bonanza that you think. If you own a 1000 acres of good land now debt free you don't have too many financial problems. You could rent it out and live pretty good. Don't know if your lifestyle is going to change dramatically. If you have 2000 dollar land that you can sell for 10 times that may be a different story. If have just bought land as investment with no personal ties to it then it would be easy decision. would be very hard for me to sell land that Dad and I fought to hold on to thru 80's and impossible for me to sell land that has now been in family for 4 generations.(80 acres) I don't think each previous generation would appreciate me selling land so I can live well after they sacrificed for generations. Realize that world and values are changing. Don't know if future generations will place same values or politically be able to do as we have in the past. | |
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Cash out...
