Old farmer nehbor up the road has bought about 3000 acres here in se Nebraska over his lifetime...he is 83 ....told me he never bought a farm he didn't think was too much at the time...his first farm was 150/ acre....he paid it off in 3 years....last one he bought a few years ago around 7500..
My grandad was the same way...he bought one one time and paid it off with his first crop....that will just never happen these days with the safety net of fed crop insurance....
Someday you may look back and say boy I should have payed up and got that farm...
Around here a $7500 per acre piece of dryland farmland wouldn't pay for itself EVER........not saying some hedge fund or very cash heavy buyer wouldn't bite it off......just saying it will never pencil growing crop on it.
Hell, $3500 an acre won't pencil....and it's pretty good dirt around here. (lot of 100 bu. wheat this summer around)
I'd better correct myself, Out of the 141.4 acres, all but 31 are tillable. Still a lot of money.
Wabi, if you pull 2 crops most years off this ground does the banker say it pencils?
