Buy farmland or a investment property?

Tommyturf · 05-11-2020 10:39AM #1

hi all,

very much part time farming at the minute (grass to beef), circa 50k to invest (doing nothing in bank at min), whats your opinion on the above two? full time paye worker. cheers

3 the square · 05-11-2020 11:28AM

Farm land is only getting cheaper imno

arctictree · 05-11-2020 11:37AM

I got a letter from the bank yesterday stating that they will be charging negative interest rates from now on on balances. One of the main banks. They also stated that I can close my account if I wish.

Yet, they are charging me 8.65% interest on a personal load I have. Greedy feckers.

cute geoge · 05-11-2020 11:38AM

No doubt land but it has to be good land close to you and how often does this come up where as houses are 10 a penny

Panch18 · 05-11-2020 11:47AM

arctictree wrote: »

I got a letter from the bank yesterday stating that they will be charging negative interest rates from now on on balances. One of the main banks. They also stated that I can close my account if I wish.

Yet, they are charging me 8.65% interest on a personal load I have. Greedy feckers.

Pay off the personal loan is the very best thing you can do with your money

JeffKenna · 05-11-2020 11:55AM

Tommyturf wrote: »

hi all,

very much part time farming at the minute (grass to beef), circa 50k to invest (doing nothing in bank at min), whats your opinion on the above two? full time paye worker. cheers

Depends if the land is close or not. 7 or 8 acres a good bit away is hardly worth the hassle.

Mad_maxx · 05-11-2020 12:00PM

arctictree wrote: »

I got a letter from the bank yesterday stating that they will be charging negative interest rates from now on on balances. One of the main banks. They also stated that I can close my account if I wish.

Yet, they are charging me 8.65% interest on a personal load I have. Greedy feckers.

Pay off that personal loan first , 8.65% is a lot more return than any property will yield ot at least any worthwhile property

awaywithyou · 05-11-2020 12:08PM

3 the square wrote: »

Farm land is only getting cheaper imno

Farmland up the road from Buford made 22k/acre in the last couple weeks... more land for sale around the same area and it supposed to b at 18k/acre at the moment

kerryjack · 05-11-2020 12:47PM

Don't think you would buy much land with 50k and buying an investment property you would only be a slave to the tenants they have all the power now. Could you add value to your home place, concrete land reclamation or build a large shed you could rent it out for storage or some one that wants to run a business from it.

Mooooo · 05-11-2020 01:17PM

Clear any high interest debt after that prob better to look at investing elsewhere, pension or stock market. Unless the land is boundsing your own place or puts you in a better position to join two parcels the return wouldn't be there in farmland

Tommyturf · 05-11-2020 01:52PM

Mooooo wrote: »

Clear any high interest debt after that prob better to look at investing elsewhere, pension or stock market. Unless the land is boundsing your own place or puts you in a better position to join two parcels the return wouldn't be there in farmland

no other debts bar the mortgage which is under control. leaning towards land over property for all of the reasons outlined above, thanks

3 the square · 05-11-2020 02:13PM

awaywithyou wrote: »

Farmland up the road from Buford made 22k/acre in the last couple weeks... more land for sale around the same area and it supposed to b at 18k/acre at the moment

Maybe, most farmers around my area are in there 70s or 80s with only relatives arein dublin America or uae you know what there going to do with it there will be some much land for sale in ten years it will be frightening there will be the best of land planted with forestry or abandoned

Say my name · 05-11-2020 02:14PM

It'll be very tough get farmland for 50k.

Reason is not many small lots like that come on the market at that price.
Even a site where I am in the country comes in more than that.

Timmaay · 05-11-2020 02:22PM

Say my name wrote: »

It'll be very tough get farmland for 50k.

Reason is not many small lots like that come on the market at that price.
Even a site where I am in the country comes in more than that.

Plus legal fees /stamp duty, will add best part of 10% onto the price.

Mad_maxx · 05-11-2020 02:26PM

Pay off the high interest loan and stick the rest in the IRES reit, gives you a share in prime Dublin residential property,plus a 4% plus dividend currently

No calls late at night looking for a broken shower to be fixed

Panch18 · 05-11-2020 02:37PM

Tommyturf wrote: »

no other debts bar the mortgage which is under control. leaning towards land over property for all of the reasons outlined above, thanks

if it was me i'd clear the mortgage - there is a good sense of freedom when you don't have to answer to any bank - especially in the current uncertain world

05-11-2020 02:45PM

Tommyturf wrote: »

hi all,

very much part time farming at the minute (grass to beef), circa 50k to invest (doing nothing in bank at min), whats your opinion on the above two? full time paye worker. cheers

You’d get 2.5 acres. In Wexford for 50k . Buy it ,Sit back and let the good times roll

lakill Farm · 05-11-2020 04:39PM

Tommyturf wrote: »

hi all,

very much part time farming at the minute (grass to beef), circa 50k to invest (doing nothing in bank at min), whats your opinion on the above two? full time paye worker. cheers

property. steady return and maybe even a capital return also

Cattlepen · 05-11-2020 08:43PM

awaywithyou wrote: »

Farmland up the road from Buford made 22k/acre in the last couple weeks... more land for sale around the same area and it supposed to b at 18k/acre at the moment

Do u mind me asking you what part of the country this is in?
I had auctioneers telling me the best of Meath land in good heart and well fenced with good facilities would only make 15 k an acre

older by the day · 05-11-2020 09:25PM

3 the square wrote: »

Maybe, most farmers around my area are in there 70s or 80s with only relatives arein dublin America or uae you know what there going to do with it there will be some much land for sale in ten years it will be frightening there will be the best of land planted with forestry or abandoned

Exactly what a friend of mine said at a group meeting last year on about land abandonment. He gave 9000 an acre for very middling land this year. If someone is giving land away for free give me a pm please

lalababa · 05-11-2020 09:58PM

3 the square wrote: »

Maybe, most farmers around my area are in there 70s or 80s with only relatives arein dublin America or uae you know what there going to do with it there will be some much land for sale in ten years it will be frightening there will be the best of land planted with forestry or abandoned

Yeah..the smaller and marginal farms will be put up for sale or planted ..no two ways about it AFAIK/ can see.
Farmers are Old and no relative has much interest ...and why would they?

Cavanjack · 05-11-2020 10:06PM

Cattlepen wrote: »

Do u mind me asking you what part of the country this is in?
I had auctioneers telling me the best of Meath land in good heart and well fenced with good facilities would only make 15 k an acre

Good land in Meath can be bought for €9000 an acre.

05-11-2020 10:31PM

Tommyturf wrote: »

no other debts bar the mortgage which is under control. leaning towards land over property for all of the reasons outlined above, thanks

Would the 50k clear your mortgage, or if you put it into the mortgage how long would there be left on it?

Spanish Eyes · 05-11-2020 10:37PM

Where can one find land/farmland for sale please?

It’s just out of interest but it seems to be hidden!

Say my name · 05-11-2020 11:03PM

Spanish Eyes wrote: »

Where can one find land/farmland for sale please?

It’s just out of interest but it seems to be hidden!

It's next to the drinks aisle in Tesco.

patsy_mccabe · 05-11-2020 11:04PM

Spanish Eyes wrote: »

Where can one find land/farmland for sale please?

It’s just out of interest but it seems to be hidden!

https://www.daft.ie/ireland/commercial-property/agricultural-farm-land/

kollegeknight · 06-11-2020 01:45AM

Land beside me came up for sale for €85k- about 15acres with sheds.

I decided against it as if I had that money, an apartment in Ennis or shannon wouldn’t have been far from that price and around €600 income monthly- you’d never get that from a farm. Saying that both would cause hassle.

Semi glad I didn’t jump- the guy that bought it doesn’t believe in fences.

Cattlepen · 06-11-2020 08:08AM

Cavanjack wrote: »

Good land in Meath can be bought for €9000 an acre.

Would seem very cheap compared to what land is making around the country. Can anyone explain this

kerryjack · 06-11-2020 08:49AM

Cattlepen wrote: »

Would seem very cheap compared to what land is making around the country. Can anyone explain this

Maybe it's big acreage and than you come up with 9 K an acre I know a round my area they are a few local lads buying up every thing that comes up for sale, not enough hours in the day for them lads,
I lad is a right goer started off with sweet fucck all.

wrangler · 06-11-2020 11:54AM

Cattlepen wrote: »

Would seem very cheap compared to what land is making around the country. Can anyone explain this

If it's like Westmeath there isn't enough dairy farmers well enough set up yet to compete, There's a lot of new entrants, There's 24 acres beside me and It has been on the market three months, I hear it's not making €10000/acre.
A neighbour bought 40 acres of great land in two lots three years ago for about 8000/acre

Tommyturf · 06-11-2020 12:07PM

wrangler wrote: »

If it's like Westmeath there isn't enough dairy farmers well enough set up yet to compete, There's a lot of new entrants, There's 24 acres beside me and It has been on the market three months, I hear it's not making €10000/acre.
A neighbour bought 40 acres of great land in two lots three years ago for about 8000/acre

leaning towards land, houses are hassle and cant write tax off against it, plus the tax man has the best of any rent :rolleyes:

Buy farmland or a investment property?

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