All Forum Posts by: Dan Kistler

Nate...you will find that buying small farms is typically no economical. Economies of scale rule the day in the farming community. Anything smaller than a few hundred acres is simply too small IF its really farming that you are interested in.

The investment opportunities in the Midwest are terrible at present. Low crops prices are dragging down values. Better returns can be found elsewhere.

I agree with Rob. No consideration was provided (EMD) and therefore there is no contract. Do not continue discussions with realtors who may use what you say as reason to collect a commission. Your chances of being sued is very very low IMO.

You have not given us an idea of what a settlement amount might be. Without some idea its not possible to advise you to go to court or settle. In my experience its almost always better to settle from a cost perspective unless the Plaintiff is just silly with greed.

I think that's a doable deal with a couple of provisions.

Number one you must have built homes before and two you will need an investor that knows you personally.

I would fund someone locally if the above conditions were met.

Good Luck.

That fact that your asking the question should also provide your answer. "mentors" in the business of mentoring for fees are seldom if ever worth what they charge as your gut instincts are telling you......

Buying a Brokerage office without being a broker is a bad idea. You are entirely committed to the performance of someone else (the broker) with almost no ability to impact the performance of the brokerage.

I have no idea what excites you about this opportunity as you have said you have not even seen the financials but I would suggest you pass on the opportunity.

Shes 88. Its not a crime to pay taxes but it would be a crime for her to lose money in a shaky investment trying to avoid or delay taxes.

I agree with Brian. Find an agent that you are comfortable with and then negotiate fees based on what you expect them to do.

Saving money by going with discount brokers just to save money is short sighted. In the long run you will be far ahead with a solid relationship.

Helping your son is a noble idea however it appears you will be deeply intertwined with a start up farming operation that may or may not work out (my family farms).

If you want to help I would purchase the home yourselves and give your son an option to purchase it. That way if farming didn't work you would not have to untangle another set of assets that were owned by several family members. You could just sell the house you owned.

Farming is very capital intense. If I were you I would rather see your son focused on acquiring farming assets instead of farming assets and home assets. At 23 he most likely doesn't have enough cash to do both.

Just my 2 cents. Good luck.