Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (16) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: foo1bar Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121438  
Subject: Re: Buying rental land... Date: 5/6/2011 8:46 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Buying from your uncle is not prohibited from self-dealing,
Wouldn't be buying from my uncle - buying land from his neighbor.

Do you have sufficient assets in an IRA to pay cash for the land?
Let's assume that I do.

What happens if you uncle is no longer able to farm and ends the rental agreement?
Well, presumably I rent it to another farmer, or possibly sell it in whole or in parts. (probably depending on what is done with the adjacent parcels).
Farming it is another possible option - but probably would not be ideal. (everything would have to be done by custom operators coming in)
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (16) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Saul's Investing Discussions

Why Did I Buy a Bunch of PFIE Today?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement