Posted 1/26/2019 14:44 (#7274361 - in reply to #7274309) Subject: RE: Rent or Equity Loan
South Central Iowa
No, do not know the location. Assumption based off the appraiser using a 3 cap for income approach, $225 NOI/gross acre on $7,500 value. Likely crop rent grosses $270 before property tax, management, and efficiency whittle it down to the $225.
It’s not a low rent area or he would have never had that $9,000 valuation. It’s not a development area or he wouldn’t have seen a decrease in value.
Teach me about Capital Gains Tax and selling land to pay for nursing home
