Highland Center, in Southeast Iowa | SoilSolutions - 5/30/2022 12:37 First post- young farmer and going to have an opportunity to purchase 200 acres of row crop ground. The family is succession planning this summer. They want to keep the farm in the family but want to hold it in their names for 6 more years so it’s a century farm than give me the first right to refuse. The reason I’m posting is id like some advice on different on ideas on how to be able to make this purchase. I can come up with at least 30% down payment now . One idea I had is renting the farm for 6 years and c if I can have my rent payment that go towards down payment and than at the 6th year pay the rest of the amount (contract of some sort). Side note this family is far from greedy they want to do whatever for me to be able to make this purchase . Any advice would be appreciated . Meeting with a few older experienced lenders this week. Thanks guys
I'm no help whatsoever, but it sounds like a nice opportunity.
I think you'll get more (in quantity) and more varied responses if you post this question in AgTalk Cafe or Crop Talk. Good luck!!! |