| sloughclub - 4/16/2024 18:15 So what happened in your area back in 82 when someone paid too much for a farm with cash and didn’t owe a dime to anyone, did they come out and take it away from him anyway? Yes I have the same thoughts now as I had in 82 about someone doing that and around nobody ever came and took it away from those cash buyers and I bet they don’t this time either, so yes same thoughts for me as in 82
No they didn’t lose the farm. What they did lose was 1/2 or more of their equity and it took roughly 25 years to get it back. And during those 25 years the ROI was terrible.
So, if the only thing that matters is “not losing the farm” yea they did ok. Most people with lots of money want a real ROI. If you find some that don’t, I’d love to have them buy land near me and I’ll pay them 1% on their purchase as rent.
The economics will always win out. It just takes some time to get rid of the excess capital. |
Crazy Land Auction
