Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
My great uncle left his farm near Plainview, TX undivided to 11 nieces and nephews. I am in the next generation. Now owners of 4 of the shares have announced that they want to sell their shares. We have been in drought conditions for the last 7 years. I have talked both to realtors whose highest estimate of value is $400/acre for a share value of $26,900 and a highly respected farm appraser who gave a value of $19,600 per share.

Emotionally - I really want to buy a share - memories of my great-uncle and times spent on the farm and keeping family land in the family (I will inherit a full share from my father and already have 1/3 of a share from an uncle who passed)

value wise - the farm, after expenses, has returned an average of $950/share for the last 5 years during the drought for a little over 4.8% return on the appraiser value of a share.

to buy a share at this time - i will have to take out a home equity loan but a 10 year loan at current rates is easily affordable.

thoughts, suggestions on a price to offer and evaluations are most welcome here on the board or to JStarkey9@aol.com

thanks,
Joe Starkey
Print the post  

Announcements

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 Glassdoor #1 Company to Work For 2015! 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