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Renting out Hog barns?
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MAVERICK90
Posted 1/13/2022 07:49 (#9437144 - in reply to #9436939)
Subject: RE: Renting out Hog barns?


NW Ohio
Dougw - 1/13/2022 05:41

Toying with what to do with our newer hog barns as we get closer to retirement.

They are all 14 years old or newer. 2400 head.

Selling them would be a tax nightmare, they do not qualify for 1031 exchange according to IRS. They provide a nice side income and seem like they are worth more to us to keep than sell. We either need to find that needle in the haystack that wants/capable of taking them over for a salary or rent them out.

Anybody have knowledge of this? What is a good salary/barn to attract someone? What do people pay to rent barns? Plenty of integrators in our area to get contracts.

We could provide some labor to the new employee/renter as we will still be around for a few more years but are looking to transition out of being tied down.

TIA



Any insight on why it doesn't qualify for a 1031 exchange? Doesn't really make much sense to me?
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