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Would Dayton work for ya??You'd better define "well south of Toledo", otherwise, eff you!
I'd like all snow, please. From what I've heard, we might be looking at the mix; not looking forward to ice.
I had to stop by the local supermart establishment last night to pick up my drugs and a couple of grocery type items - many of the shelves were picked clean. Crazy...
My guess is that they are trying to prep all of the major roads in your area, spreading sand and salt and whatnot, for the big storm that is on the way, and neglecting the smaller side streets at the moment. Idealy you just let the snow pack on side streets, but when you get too much at a time that doesn't work so well, you get ruts.
I'm trying to buy 112 acres of dirt.
I'm trying to buy 112 acres of dirt.
Farmland back home, across the road from one of my dad's farms. I can buy it now, with minimal investment, and make enough off of the land to pay the interest and principal, it is basically a no-brainer.
5% down
45% @ 1.5% interest for 20 years
50% @ 3.5% interest for 20 years
Yes, those are fixed rates for 20 years. I have worked out all of the numbers with my dad and a couple other people and it all works out that I will be able to bring in enough cash flow to cover the loan, and maybe more, depending on the year. There are 2 lenders, neither are conventional banks, but both are ag companies that are very reputable and specialize in ag loans. My dad already does quite a bit of business with both. I will be the sole borrower, which is the way it has to be, since these loans are special rates that most can't get, but I am elligable for. Then I'll also get all of the other perks of owning farmland, the tax benefits and such. Though now I will not be able to do my taxes myself on TurboTax.com.P&I for 20 years at those % and rates? I am assuming the rates are fixed. $5,400.00 and acre? Is that typical for that neck of the woods?? I am sure you know the land well and between you and your family you know what you are doing. Are you working with a bank? If so, are you the borrower?
The dirt you speak of should be a wise thing to get involved in as long as it (or you for that matter) can cash flow it. I am sure that based on your experience and connections (family) that you will be able to work the land and reap the benefits with minimal effort. In addition, there are additional perks that a good accountant can work into the equation. Lastly, Your personal stock will go up and therefore you will get your pick of any of the 4H girls you desire in johndeereville.
Good luck!
Edit. Sorry for all the questions I am just curious.
Yes, those are fixed rates for 20 years. I have worked out all of the numbers with my dad and a couple other people and it all works out that I will be able to bring in enough cash flow to cover the loan, and maybe more, depending on the year. There are 2 lenders, neither are conventional banks, but both are ag companies that are very reputable and specialize in ag loans. My dad already does quite a bit of business with both. I will be the sole borrower, which is the way it has to be, since these loans are special rates that most can't get, but I am elligable for. Then I'll also get all of the other perks of owning farmland, the tax benefits and such. Though now I will not be able to do my taxes myself on TurboTax.com.
That is the same feedback I've gotten from everyone I've asked about it, which is why I'm doing it. It still isnt' a done deal, far from it actually. My offer has to be accepted, and then something could still happen to make my financing fall through, but I have to at least try.