All Forum Posts by: Chad Rohlfsen

 Actually my family has owned it since 1888...  The 18K is after taxes...  It rents for about $255 an acre....    No, there is a huge step up in basis from 1991 when it was worth about 2-3K an acre...  It would not be tax free....

Thanks... The FarmLand has had a steady renter for the past 40 years and will continue to rent. It will net me about 18G a year. I guess I'm mostly interested in what strategy do I use... I've got a bank interested in giving me a line of credit however that is at a higher rate than FarmLand Credit Union would be ... We are looking primarily at BRRRR... With questions on Refinance after rehab... We are looking for the worst properties in Nice neighborhoods and bring up the value with them. Looking at sheriff auctions or homes that have been on the market for a long time.

So, the model would be...  Spend 50K on a good deal.. Put 20K into it and refinance to pay off the line of credit plus have some extra to put into the next property.  Hopefully 4-5 similar deals we wouldn't need to use the line of credit as much or at all.  

Thank you!

Hello,

New to this world and recently inherited about 700K in farmland. I plan to start leveraging that land to pick up some properties. Plan on using Farm Credit for line of credit @ 3% rather than a regular bank@ 4.75%. Looking to aim for 40-50K purchase with 20-30K in rehab expected.

I'm obviously looking to avoid certain pitfalls with my first deal. Reading The BRRRR book right now. Mainly looking for advice on utilization of this line of credit. And what I may expect at the refinance.