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rswfarms
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Registered: ‎12-17-2012
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Faust- I have been contacted by a Des Moines Doctor to sell 40 acres

Say Faust, I have been contacted my a Des Moines Doctor that is interested in buying 40 acres from me. I would use this money for a 1031 Exchange to purchase a 160 acres that might be coming up for sale just 2 miles from all my other farms. It sounds like he may pay $14,000/acre for this small 40 acre piece out of another 160 acre farm I own. There is a small drainage ditch that runs though the farm making it very easy to split into a small 40 acre corn field. Considering I only paid $1,000/acre for this farm or around $160,000 total in 1987 for the entire 160 acres, what do you think? Should I consider selling to him? I need the money from the 40 acres to allow me to pay cash for the possible 160 acres that may be for sale from an Estate. Let me know what you think. Thanks.

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