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I'm buying a new hay farm, good idea?
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<blockquote data-quote="agmantoo" data-source="post: 818488" data-attributes="member: 8973"><p>I never discourage anyone to buy land. I do search for property that has some type of what I call a feature in event that I may want to sell it later. The features could be that the property is in the "path of progress", has a nice view or lake or stream, highly productive and will cash flow, wooded with a future timber harvest, etc. With the debt for the farm machinery and the production of 400 bales of hay the return on the purchase is lacking IMO. Surely there is a better end use with a better return! If the property is worth $1667 how many head of momma cattle will it support? Why not hire the hay made and maximize the use of the land as pasture. Does the land have amply water and will it produce each year? Actually there is too little known to make a wise decision. Possibly Dad has deep pockets and this is for hobby and the financial return is immaterial. Land varies some much from location to location that the price per acre cannot be compared. Net return as a percentage for dollars spent may be a better evaluation.</p></blockquote><p></p>
[QUOTE="agmantoo, post: 818488, member: 8973"] I never discourage anyone to buy land. I do search for property that has some type of what I call a feature in event that I may want to sell it later. The features could be that the property is in the "path of progress", has a nice view or lake or stream, highly productive and will cash flow, wooded with a future timber harvest, etc. With the debt for the farm machinery and the production of 400 bales of hay the return on the purchase is lacking IMO. Surely there is a better end use with a better return! If the property is worth $1667 how many head of momma cattle will it support? Why not hire the hay made and maximize the use of the land as pasture. Does the land have amply water and will it produce each year? Actually there is too little known to make a wise decision. Possibly Dad has deep pockets and this is for hobby and the financial return is immaterial. Land varies some much from location to location that the price per acre cannot be compared. Net return as a percentage for dollars spent may be a better evaluation. [/QUOTE]
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I'm buying a new hay farm, good idea?
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