If you sold your land in the last 10 years your stupid

[Hopperbin]

Ten years ago I had the opportunity to buy 6 quarters of land from a relative and I looked at my aging machinery and looked at the land that was without trees and had been drained but like all land needs a little cleaning of the dithches. I took the land was given 2 years to pay for it. I don;t consider my seller to be stupid but if one was wanting a better return would be to keep the land and rent it. Basically anyone who sold land in the last few years got screwed cause of the increase in price.

[Hopperbin]

And think about an investor wants to buy your land to make a profit and besides deducts the relestate fees that they paid and still make a profit. well unless your ditching and land clearing is worthless you can sell out to a land company cause your stupid, sorry fore the stupid comment but is as I feel.

[Hopperbin]

Not sure about the rest of the areas but around here the renters are not cleaning ditches more like working them shut , so in 10 years the land will be worthless to rent and they will need to sell to the highest bidder.

[hedgehog]

depends what you did with the money.
if you bought gold, or a london mansion you are well in profit.

[bgmb]

land I paid 100,000 a quarter for 5 years ago would now sell for 280,000. And the 100,000 I paid then was top dollar, in fact it was the highest price paid in our RM to date at the time.

I think allot of guys myself included are having a bit of trouble wrapping our heads around paying these huge prices for land.

[ajl]

This is true. The big question is if you
sell your land this winter will you look
stupid?

[bucket]

If you sold at 100,000.00 and put the money in the bank, you might earn 3 percent.

That same land should rent for at least 5000 and less taxes, you are making better money holding the asset and rent it out. If shit hits the fan and the asset goes down in value, more than likely you can still get the rent. Or maybe you sell for 80,000 and get 7 per cent at the bank.

Still better to hold the asset and rent it.

I don't like the price of land now, but I will buy if it fits in. And then lock in the lowest rate for the longest term.

[farmaholic]

Hopper: What kind of a "stupid" comment is that? Your lucky to have the only crystal ball in
Western Canada that works. You should be a multi-billionaire with that thing.

[Partners]

It all depends on your age and your health..Nothing to do with being stupid..

[checking]

I believe it has to do with whether you need to sell. If it's just a want to sell, then really the land sale is just to throw it on the rest of your pile of cash.

[SASKFARMER3]

Not for sale my kids know the value of land. If
they don't farm it will be rented out some day.

[ALLFARMER]

12 years ago bought half section with yard and
older house for 160 now worth 650. Another half
section of bush I bought for 40 cleared it myself
now worth 400. Another 3 quarters I bought for
110 (bush) now worth 350/400.

Plus all this land is connected. Started farming in
1996 with $400 a pick up truck and some
ambition.

[hedgehog]

anyone can make money on a rising market.
what happens when it falls?

[bucket]

I remember 1996 and on, it hasn't exactly been a rising market until the last 3 or 4 years. Good on you allfarmer.

[sumdumguy]

What you say is what you are!