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Non-Cattle Specific Topics
Coffee Shop
Tough decision, sell out or stick it out?
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<blockquote data-quote="KenB" data-source="post: 576184" data-attributes="member: 1491"><p>A couple of more questions if you don't mind:</p><p></p><p>(1) What is the current market value of the same 40 acres in question?</p><p><strong>See land in this area for $1200-1500 an acre.</strong></p><p></p><p></p><p>(2) What are the terms of your existing land note such as interest rate, term, payoff, etc.?</p><p><strong>Owe about 15 more years at 5.875% balance of less than $80,000</strong></p><p></p><p>(3) What is your professional expertise?</p></blockquote><p><strong>Full time job is a service rep/mechanic.</strong>[/quote]</p><p></p><p><strong>$1500 X 40 acres = $60,000</strong></p><p><strong>40 acres X $197 X 15 years = $118,200</strong></p><p><strong>Take the CREP money and buy some of that $1500 acre land, have your cows and make some money to boot. :tiphat:</strong></p><p>[/QUOTE]</p>
[QUOTE="KenB, post: 576184, member: 1491"] A couple of more questions if you don't mind: (1) What is the current market value of the same 40 acres in question? [b]See land in this area for $1200-1500 an acre.[/b] (2) What are the terms of your existing land note such as interest rate, term, payoff, etc.? [b]Owe about 15 more years at 5.875% balance of less than $80,000[/b] (3) What is your professional expertise?[/quote] [b]Full time job is a service rep/mechanic.[/b][/quote] [b]$1500 X 40 acres = $60,000 40 acres X $197 X 15 years = $118,200 Take the CREP money and buy some of that $1500 acre land, have your cows and make some money to boot. :tiphat:[/b] [/QUOTE]
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Tough decision, sell out or stick it out?
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