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SE Arkansas | The only way this land purchase can be supported is to be subsidized, whether it is the free cash flow off base ground they inherited, the in-town jobs, the government payments, etc, or someone 1031'ed into it and they weren't terribly worried about getting the price of land down, but rather avoiding cap gains taxation.
I can't make it work for over $2k, even with higher yields. You answered your question above. Rental value-opportunity cost-interest=it don't work, and I use to say they don't make any more of it until South America came along. There's plenty more if the price is right. | |
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Land prices
