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RR Valley, ND; MN native | My Dad retired in 1998 and rented out his remaining acres (abt 200, what he had left after grandparents died and sibling squabbles).
I am pretty sure his income was more in those retirement years than his later farming years.
Nowadays, I am not sure what the net income on that land would be and could someone live off it if owned clear. The rent income gets eaten about 25% in property taxes. Farming it yourself would be more lucrative I suppose but inputs cost too of course.
At some point, I will inherit 50% stake in it and for sure don't expect to live on the rent!!!! | |
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Retirement
