Would love to buy neighbors additional acreage barn etc...

dianneS

Loving the herd life
Joined
Aug 17, 2009
Messages
974
Reaction score
11
Points
176
My neighbors father's farm is for sale. Its 20 tillable acres, currently being farmed. A four bedroom 2 bath house and a big white bank barn and corn crib, for only $250k! The catch is that the house is in a flood plain and any bank holding a mortgage on the property would require very costly flood insurance.

We live on the adjoining farm which is 14 acres of fenced pasture, woods and landscaping/flower gardens etc. We have no tilled fields of our own.

I would love to buy it, but am frankly scared to make the investment. We're not interested in the house and would probably tear it down if we bought the place. I need creative ideas for making this additional acreage pay off, or ways to find an investor or other interested party to collaborate with. I hate to let this bargain get away, but at the same time, its a big risk.

What would you do if you had the opportunity to expand your farm at a good price, yet a significant expense and financial risk?
 

babsbag

Herd Master
Joined
May 10, 2010
Messages
7,886
Reaction score
9,317
Points
593
Location
Anderson, CA
We are in the same boat with land next to us being for sale. Would love to buy it and expand the browsing for the goats but the only way I can justify it is to build a house on the land and rent it out; give the tenants an acre or so and I would use the rest. The problem is getting a loan to build the house when it is an investment and not a primary residence. I would really like to live on that land and rent out this one but just don't know if I am up to starting all over again on landscaping, barn building, fencing, garden, etc.

Hope you find a solution.
 

Baymule

Herd Master
Joined
Aug 22, 2010
Messages
33,094
Reaction score
98,671
Points
873
Location
East Texas
When you tear down the house, is the land worth the asking price? If not, then that is too much money to pay. If the land alone is worth that much, then go for it. I don't think I would lay out that much just to tear down the house. Would they sell you some adjoining land with out the house?
 

babsbag

Herd Master
Joined
May 10, 2010
Messages
7,886
Reaction score
9,317
Points
593
Location
Anderson, CA
That really does seem like a lot of money for 20 acres and a barn. I am not sure where you live, but in CA land is EXPENSIVE and I would be hard pressed to pay that much money for land and no house.
 

GrimshelsGrazingGoats

Chillin' with the herd
Joined
Apr 26, 2014
Messages
33
Reaction score
6
Points
44
My neighbors father's farm is for sale. Its 20 tillable acres, currently being farmed. A four bedroom 2 bath house and a big white bank barn and corn crib, for only $250k! The catch is that the house is in a flood plain and any bank holding a mortgage on the property would require very costly flood insurance.

We live on the adjoining farm which is 14 acres of fenced pasture, woods and landscaping/flower gardens etc. We have no tilled fields of our own.

I would love to buy it, but am frankly scared to make the investment. We're not interested in the house and would probably tear it down if we bought the place. I need creative ideas for making this additional acreage pay off, or ways to find an investor or other interested party to collaborate with. I hate to let this bargain get away, but at the same time, its a big risk.

What would you do if you had the opportunity to expand your farm at a good price, yet a significant expense and financial risk?
Do you have to equipment to kinda build some small levees around the housing area or somewhere else
 

Latest posts

Top