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Veteran Advisor

thanks

about every time I consider stopping posting here altogether because of the trolls like Shifty, I get a message such as yours that makes me think it's still worthwhile.

 

Back in the 80's when I was a pup, we had a great local coop where you knew everyone from the manager on down, did business with them, and were part of a family....you knew that the manager was getting the best deals for everyone, regardless of size, you got an honest shake on your grain samples and drying bills, etc. Then , maybe 10% of the apples went sour, and ruined it for everybody. Pretty easy to figure out who was a sour apple, right? Seems like all the good men at that coop died in short order of cancers, and it was never the same when the guard changed and after the debt writeoffs. I sometimes wonder if it is true that the good die young.

 

I guess being called a liar by a used car salesman is about like being called a sissy by Pee Wee Herman, right? 

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Honored Advisor

Re: thanks

Alternative provider  ------- who is that........???

 

Well it starts like this " There are two kinds of farmers.............".. The ones who are loosing money because their dumb and the retired ones who know everything and live off the other ones..  Guess which one thinks there are two kinds of farmers....

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Senior Contributor

Re: Lots of reasons

Simply to challenge the assertion about getting a sweetheart deal out of buying land from a family estate. You are assuming that the other heirs will tolerate a sweetheart deal at their expense. Not a very likely occurance.

 

In our case, the estate was of an childless uncle that left his farm to two church organization. One in Boone iowa the other in the twin cities. I bought the land for $900 per acre during the great recessin ofthe 1980's. The trtuh was that i had a landlord who offered them $2000 per acre and they stalled around until the land dropped further.

 

So there was no implied sweet heart deal as you are suggesting. The other farms were bought from their owners at the current values at the time.

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Honored Advisor

Re: Lots of reasons

There`s a similar sale situation where the executor and a buddy gave themselves a sweetheart deal.  It was a low advertised sale/give-a-way in the attorney`s office, Bigshots that showed up to bid were shock and awed out of there with one Bigshot reported to`ve said "There really isn`t a point to bidding against you guys, is there?" as he walked out.

 

I kid you not, the one guy on the inside was turned down by the bank, but after the fact the estate accepted the amount the bank would finance...basically by turning the guy down, it saved him $25,000 and he still got the same land with his "winning bid"...pretty loosy-goosy if you ask me, but ...if no one complains Smiley Indifferent

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Senior Contributor

Re: Lots of reasons

Why wasn't there any point to biding. Weren't they taking bids from those in attendence? Generally, sellers aren't required to take inadequate bids.

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Veteran Advisor

Re: Lots of reasons

thats even more interesting than the situation I was thinking about, but its your own business. God works in mysterious ways....maybe He thought you deserved a break and caused the farm crash to give you a leg up on life and enable you to do some good while still helping His churches. Best of luck with your opportunity.

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Highlighted
Veteran Contributor

Re: Land Barometer...southern MN

When it comes to buying farmland my barometer is if I can get the payment down to a reasonable cash rent-I buy it. We just had a farm sell here in Central Iowa for 10,200.00 per tillable, If you are wanting to buy land Red where was your checkbook on the farms that sold you posted.

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Veteran Advisor

Re: Land Barometer...southern MN

I have a better deal in the works. Thanks for worrying about me. Smiley Happy

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Honored Advisor

Re: Land Barometer...southern MN

Just a thought but..........fortunately........  There are aspects of land ownership and land transfer that go way beyond $$$$ accumulation.

If there weren't things that trump dollars the whold midwest would have turned over in the last 4 years.....

What a mess that would have been...

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