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south central WI | Are you familiar with the rents in the area? Asking because rents can have dramatic differences in just 10-15 miles. It may be getting all it is worth, or the owner could just be helping the farmer out. After you purchase it contact the current renter and discuss it with him first. Before purchase make sure there is no long term contract you will have to follow. I will somewhat disagree with the others in that a 15 acre field isn't tiny. Around me that is a normal field size. There, I wouldn't have a clue. It is also a difference if it is a square field surrounded by roads or other fields, compared to a odd shaped field surrounded by trees.
If you really want to research, look at some fields in the area. Figure out who seems to take care of their land and who doesnt. It may be worth more to you to find a renter who will maintain the soil and land so it is ready for you, even if they pay less. You could also put it in the contract that they could build fence on other needed maintenence in exchange for the rent if that helps you towards your future goal. | |
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