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| Yea capital gains that’s right, you can tell I’ve never sold any land. And mississippi takes a little. So 25% and add inflation which a reasonable assumption would be more like 5% over the next year I think so a third is gone. And his basis is pretty low since he 1031 originally from west Texas. And it’s paid for. So if the ground is 1 mil and you lose 1/3 that’s closer to 1.66mil. And you’ve lost passive income and if it takes another year to find land that’s another 3-5% from inflation and another year with no income since banks pay zilch for interest at the moment. Is 2.5x a good deal? Im not so sure.
A neighbor who moves a lot of dirt for the state and does various drainage projects said he wouldn’t take less than 30k but maybe that’s so he can offer them 25k Lol kidding
Edited by Deltamudd 10/7/2021 20:11
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How much an acre
