Purchasing a farm

Does anybody have knowledge of how to purchase a farm, is it a straight real estate transaction or can it be done as a business if the farm is making money? Also I was wondering about any tax benefits to owning a farm? Thank you
In Buying Property - Asked by steven d. - Nov 5, 2008
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Answer(s)

Dan F.
Broker/Agent
Saint Charles, IL

Steve -
I am a farm and land broker in Illinois. It is typically a straight real estate transaction for the land and any buildings. If there is equipment involved, you could but that seperately. Like with any small business, there are a lot of tax benefits from being able to expense a lot of your typical business items to depreciation on equipment. There is no depreciation on the land, however. Are you looking to buy farm land as an investment, or buy land and farm it yourself? If you have further questions you can email me at flanaganrealty@yahoo.com.

Nov 6, 2008
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Eric W.
Owner/Investor
Billings, MT

My company provides phase one site assessments nationwide as wells as environmental insurace for your transactions. We'd love to work with you and your investors to speed the closing process. We get our phase ones completed quickly...not 3-4 weeks. Please contact me at your convenience.
Eric Wells
406-697-2486
ewells@pointconsultinggroupinc.com
www.pointconsultinggroupinc.com

Nov 22, 2008
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Tai L.
Broker/Agent
San Diego, CA

I have a friend who has a house on a 15 acre farm. She grows fruits and vegetable. Don't know if you are interested. She tried selling before.

May 23, 2009
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