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Land sale maybe better than a purchase
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Bonanza
Posted 11/13/2020 11:21 (#8604687 - in reply to #8603986)
Subject: RE: Land sale maybe better than a purchase


Ne Nebraska
I personally did that in 2016.

I'd bought an odd shaped CRP farm after graduating college in 1990 and sold it to family that owned the rest of the land surrounding it in 2016. Other than hay it a few times I never farmed it. 26 yrs had some serious appreciation from 1990 to 2016.

Paid off my house in city, 3 other quarters I was dragging mortgages on, bought decent used line of equipment, 4630/4440/2366/1760 and had enough left to operate with cash. Avoided a lot of the capital gains by spreading payments over 3 tax years to keep from triggering upper rate and depreciation on the equipment line.

After doing this the perspective change on farming was amazing and worrying about weather/markets diminished beyond what I thought could be.

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