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Near Richmond, IN | First farm I bought was in 1985. Neighbor (we farmed his farm) walked in and said he wanted to sell me his farm. I said how much and he said $60K. (this was for 86 Ac., 59 tillable) I said I'll give you $40K and he returned he'd take $50K. I said ok. End of deal. That was truthfully the conversation-just that short. It was just about the low point in land values and he had sold it earlier to someone else who lost it back to him, so he had collected a fair amount in payments for it before selling it to me. So he ended up with a fairly good amount (total) for his farm and I got it fairly cheap. The only place I bought that you could pay for with it's own earnings. Just luck, actually. | |
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Buying Your First Farm
