> You need ~$1M worth of equipment to farm 80 acres
All new? That seems way too low. You'd struggle to get into a combine alone.
Used? That seems way too high. I doubt I'd get any more than $300k for my equipment (and that's more than I paid) if I were to sell it today, and it's pretty nice equipment compared to what I see a lot of farmers using.
> 80 acres (~$1M worth of land)
We always wonder why so cheap? The 18 acres for sale down the road from me wants just about $1M (I expect that will be a hard sell, to be fair). The 130 acres further down the road wants nearly $4M (quite realistic; comparable parcels have sold for more). If you could pick up 80 acres in these parts for $1M, you just won the lottery. And, to be clear, it's not like on the edge of a city or something where other interests are driving up the price. It's just farmland. The yields are respectable, but not quite like Illinois will produce.
All new? That seems way too low. You'd struggle to get into a combine alone.
Used? That seems way too high. I doubt I'd get any more than $300k for my equipment (and that's more than I paid) if I were to sell it today, and it's pretty nice equipment compared to what I see a lot of farmers using.
> 80 acres (~$1M worth of land)
We always wonder why so cheap? The 18 acres for sale down the road from me wants just about $1M (I expect that will be a hard sell, to be fair). The 130 acres further down the road wants nearly $4M (quite realistic; comparable parcels have sold for more). If you could pick up 80 acres in these parts for $1M, you just won the lottery. And, to be clear, it's not like on the edge of a city or something where other interests are driving up the price. It's just farmland. The yields are respectable, but not quite like Illinois will produce.