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Updated about 11 years ago,
Needing direction
Hey guys and gals,
I've always been interested but have never educated myself on it; I'm beginning to do so. I'm in need of some direction as I'm in a different situation than most.
We are farmers and I feel that we are breaking our backs 365 days a year; rain and shine to scrape by.... My family has about 20+ acres of rural agricultural land (15 miles away from the city) On the land there is the main house and two detached single family home (2 bed, 1 bath) cottages (both being occupied by family not paying rent). To my knowledge all 3 houses are paid off. We obviously have the potential and the assets to make more money in real estate than we do farming.. I just don't know where to begin....
My questions are:
1. What real estate possibilities do we have with this land; both short term and long term?
2. What type of realistic real estate plan would you try to employ to basically make enough money annually to retire from farming.
Thanks for your time!