central kansas reno county | Had a quarter section right south of my house sell a couple weeks ago on internet auction. We have the half section to the east of it, and the half section to the south of it. Don't own the quarter we live on but do farm it. My wife and I don't own alot of ground but do have some owned outright and another piece we have bought and paying for it now. I was really interested in it until I started trying to figure out how to pay for it. We have been in a drought for the last 4 years. Insurance checks don't make land payments for dang sure. Talked with my parents who are now retired and they have done well for themselves. They was gonna try and buy it. Yes it's the piece next door but also you gotta use your head. I told my parents that they worked their asses on to enjoy retirement. Not work their asses off to retire then have to figure it out cause we thought we needed to own the quarter south of the house.
It ended up bringing 4500 an acre. Pretty much 713k. Mind you this is central ks aph of 48 bushel wheat. No way we can make this work.
On a side note it was a local retired farmer that was doing a 1031 exchange. This tax can down the road has really over inflated our land locally.
Edited by saltcreek 12/1/2024 15:11
|
Land payments
