$48k per acre - iowa farm sold to football players!

[daniel93077]

This article seems to suggest that $5M is the first pool of capital being used to buy "farms". So not sure if the $5M for one 104 acre farm that's being reported is accurate. https://www.desmoinesregister.com/s...e-griffin-kevin-gausman-patricof/69796093007/

 

[Obsessed]

A fool and his money are soon parted. Most famous athletes don't manage their money well and end up broke. Nothing out of the ordinary here, other than it being iowa land instead of drugs, jewelry and hookers.

 

[Sligh1]

I don’t have a problem with them buying it. Free market has always had examples like this forever.
Heck- I don’t even care if they pay obscene prices as far as it impacting others. A few blips won’t impact the market. If “1000 football players” start doing this- ya - could impact the market. But groups buying 104…. Nah, no biggy. The guy down the road from that farm will put his farm for sale “I’d like $48,000/acre” due to what they paid. It clearly won’t sell & market is still the market.
Ya- the next thing they listed they wanted to buy was a WATERMELON FARM in WASHINGTON!!! I’d love to be in the room for that sales pitch!!! ….. “hey guys, a watermelon sells for $6. But if u guys endorse these melons and market it right- we’ll put them for sale for $60 each!!!” There’s a farmer about to make it big selling a melon farm right now!!

*if they didn’t pay $48k/acre- I’d actually feel better for them on a moral level for how business is done. I know they have huge sums but anytime a group is completely “ripped off” - it’s not right. Hopefully they did pay somewhat close to market value.

 

[Meyer30]

Somebody found the farm they bought, Bremer Co, $10k/acre

 

[Daver]

Somebody found the farm they bought, Bremer Co, $10k/acre View attachment 124084

Well that makes a lot more sense. It just goes to show how bad the media does these days on getting stories out correctly.

 

[Hardwood11]

A lineman for the Jacksonville Jaguars bought 180 or 190 acres north of me about 10 miles in Monona County by auction.

I think he paid around $5000/acre . Brandon Scherff—he grew up around there.

 

[8bitnes]

A lineman for the Jacksonville Jaguars bought 180 or 190 acres north of me about 10 miles in Monona County by auction.

I think he paid around $5000/acre . Brandon Scherff—he grew up around there.

Denison-schleswig grad, one county east of monona county

 

[2-bucks]

A lineman for the Jacksonville Jaguars bought 180 or 190 acres north of me about 10 miles in Monona County by auction.

I think he paid around $5000/acre . Brandon Scherff—he grew up around there.

He and/or family probably had decent insight as to what market value is.

 

[Windwalker]

Wow just crazy Amount of money out there.

 

[bigbuckhunter88]

Somebody found the farm they bought, Bremer Co, $10k/acre View attachment 124084

Guy has the the wrong parcel highlighted but it's just north of there. I'll have to check it out. Gonna start selling jars of "Joe Burrows land" on eBay.

 

[Rjack]

Wow just crazy Amount of money out there.

They did not pay $48k an acre.

 

[northcedar]

Guy has the the wrong parcel highlighted but it's just north of there. I'll have to check it out. Gonna start selling jars of "Joe Burrows land" on eBay.

Lol, so more fake news. I wonder when the actual for real story will be told.

 

[bigbuckhunter88]

Lol, so more fake news. I wonder when the actual for real story will be told.

Hes just got the wrong parcel highlighted. It's the one directly north of that one to the best of my knowledge, according to the counties GIS system. Unless they previously bought that one and are now buying the highlighted portion

 

[fatboy]

 

[JNRBRONC]

Article on land prices too high for profit.

 

[Daver]

Article on land prices too high for profit.

I noticed in your article that a survey indicated that 81% of Iowa farmland is fully paid for. This is a point that I have been highlighting in other threads. I don't know what the percentage was in the early 80's, but I really doubt it was anywhere close to that high.

 

[hillrunner]

I noticed in your article that a survey indicated that 81% of Iowa farmland is fully paid for. This is a point that I have been highlighting in other threads. I don't know what the percentage was in the early 80's, but I really doubt it was anywhere close to that high.

I wonder what percentage of newly purchased land is debt free. I bet a good size chunk of that paid for land has been paid off for a long time.

 

[[email protected]]

I wonder what percentage of newly purchased land is debt free. I bet a good size chunk of that paid for land has been paid off for a long time.

Most of the guys I know who are buying land now pay cash. Plus, all the family land handed down thru the years add up to a lot of land that is paid for. Also, sometimes land sells for more than it's worth because guys are doing a 1031 exchange on something they made a huge profit on. I've seen this firsthand.

 

[JNRBRONC]

Iowa Farmer Today had an article this week on land prices. Interesting chart in embedded in the article saying 507,000 acres (1.5% of Iowa) is held by foreign entities. When you open the market globally, then you get locals bidding up because they “don’t know if the land will come up for sale again”, you get some crazy prices. Some have cash they need to spend and can justify it.


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[Sligh1]

Wow just crazy Amount of money out there.

40% more total dollars in the market vs 2 years ago!!!
Conversations I’ve had MANY times with guys buying farms!…. Guys paying “high prices” - over market……. “I’m doing it because my business got $2m forgiven during covid pandemic. “FREE $!!! From government”. Hundreds of thousands to millions. By definition- a few of those folks are gonna buy land. & it brought tons of new land buyers into the market. & heck, this is what I would expect- u pass out free $ & some guys wisely spend it on land.

What we just witnessed with trillions given out & raining $ on folks is crazy!!! Way more buyers got created and when huge sums got rained on people- the prices get nuts. Even the guys that said “heck, I can buy a 40 now!!!! I got free down payment $!!!!” It blew things up- Fast!!!!