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  1. #1
    Junior Member jenjen1 is on a distinguished road
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    Who do i contact to Buy 40 Acres of Farmland in Iowa (Northern, N-W or N-E)

    Hi -

    I'm very new to farmland investing but I would like to find about 40 acres in Iowa to purchase. I'm looking at the Northern area, N-W area mostly.

    My question, Is finding such a small amount of acreage possible, i notice most auctions are for over 100 acres. How can i go about finding such as small amount of property available? Are there other smaller investors that go in together to purchase these larger acres ?

    Who do i contact? I contacted Hertz but they mostly have larger parcels of land and i'm just a small investor so i'm not sure they can find anything for me. Any advice from experienced people? I'm very new at farmland real estate. Any help greatly appreciated.

    - Thanks, Jenny

  2. #2
    Senior Member davidm479 is on a distinguished road
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    better stick with what you know this farm land deal is fast approaching top a person could get his knob skined good right now but then agian they don"t make any more fam ground check all realters in to area is best bet and watch local papers good luck----------------------dave

  3. #3
    Moderator ses is on a distinguished road ses's Avatar
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    There are areas that beat Iowa all to crap if you're looking for ROI. Western Kansas irrigated land at $6,000 - $7,000 beats anything Iowa has to offer by a wide margin.

  4. #4
    Senior Member NE sandhiller is on a distinguished road NE sandhiller's Avatar
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    Right now its a seller's market.

    Sometimes @ auctions they will offer smaller parcels. But then all the smaller parcels are offered all together @ a slightly higher price than all of the smaller parcels.

    Bottom line - you are going to have to get together with somebody else (or multiple somebody elses) who wants to own farmland and buy together.

    Good luck.

  5. #5
    Senior Member jabber1 is on a distinguished road
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    Quote Originally Posted by jenjen1 View Post
    Hi -

    I'm very new to farmland investing but I would like to find about 40 acres in Iowa to purchase. I'm looking at the Northern area, N-W area mostly.

    My question, Is finding such a small amount of acreage possible, i notice most auctions are for over 100 acres. How can i go about finding such as small amount of property available? Are there other smaller investors that go in together to purchase these larger acres ?

    Who do i contact? I contacted Hertz but they mostly have larger parcels of land and i'm just a small investor so i'm not sure they can find anything for me. Any advice from experienced people? I'm very new at farmland real estate. Any help greatly appreciated.

    - Thanks, Jenny
    Jenny, a measly 40 acres??????????? For crying out loud that is only $400 to $600,000 here. lol.

    Now seriously- a purchase of 40 acres represents a lot of money. Some 40 acre tracts actually do come to the market here. They sell quicker and easier because the pool of buyers that think they can bite off 40 acres at a time is larger. I have been part of a few realestate deals on 40 acres or less. 40 acre tracts are more likely to be sold private or with little fanfare due to the size of the pool of local buyers that would be interested. On 40 acres sometimes all that you have to do to get it sold for a decent price is talk with neighboring owners and tell them that if they don't buy it a neighbor on the other side will.

    You might want to contact some community bankers, realtors, and auctioneers in areas that you are trying to purchase in. The bankers are on the list because they often know of those considering a sale before the property is listed. Farm community bankers might also know some farm operators near retirement that want to turn part of their farmland investment into cash before this farmland is listed for sale.

    If you are looking to purchase 40 acres as an investment but need a tenant to operate the farm, your options grow.

    How?

    1) the list of those that might be willing to sell 40 acres just might grow if they can lease/rent the property back.
    2)Also, if you are an investor that will be renting the farmland out, many farm operators would be willing to find a larger tract, carve out 40 acres for you to purchase, lease this 40 from you, and purchase the rest. I have purchased 5 tracts with absentee landowners this way.

    Good luck.
    Last edited by jabber1; 03-15-2013 at 07:24 PM.

  6. #6
    Senior Member H. Bell is on a distinguished road
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    First of all you sound like you might not live in IA? Farm land there has appreciated more than the rest of the farm country. I would look for the reast to catch up. So IA might not be the place to be looking. You might want to look at some place like OHIO. Prices here are MUCH lower than IA. True we migfht not be able to raise 300 bu corn everywhere, but 200 isn't out of the way in many places. I might even be interested in letting 40 acres go with a lease back agreement for say 6 or7K ac.

  7. #7
    Senior Member iadave is on a distinguished road
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    Remember farmland is NOT all the same. 40 acres on one side of the road might be worth 2 or 3 times what the 40 on the other side of the road is. Land sold not to long ago here for 17,000 an acre. There is an 80 coming up that will bring half of that , I think. The cheaper land might be an option. I won't buy it as I think land is topping out. If you are interested in buying it I am interested in renting it.

  8. #8
    Senior Member gmart is on a distinguished road
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    for 800000 i can scrape up some nw iowa farmland.

  9. #9
    Senior Member iadave is on a distinguished road
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    Evidently Jen Jen has better things to do than hang around with a bunch of old farmers! To bad! I was really looking forward to hooking her up with the kid!LOL

  10. #10
    Senior Member rswfarms is on a distinguished road
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    Quote Originally Posted by jenjen1 View Post
    Hi -

    I'm very new to farmland investing but I would like to find about 40 acres in Iowa to purchase. I'm looking at the Northern area, N-W area mostly.

    My question, Is finding such a small amount of acreage possible, i notice most auctions are for over 100 acres. How can i go about finding such as small amount of property available? Are there other smaller investors that go in together to purchase these larger acres ?

    Who do i contact? I contacted Hertz but they mostly have larger parcels of land and i'm just a small investor so i'm not sure they can find anything for me. Any advice from experienced people? I'm very new at farmland real estate. Any help greatly appreciated.

    - Thanks, Jenny
    If you are serious about purchasing a very small 40 acre North-Central Iowa farm you can answer this post. I would sell you just a 40 acre section on the end corner of a 160 acre Northern Iowa farm I own. Nobody ever buys just a 40, the smallest is an 80 acre farm. The reason I would consider this is I have my eye on a 1/4 section/160 acres that is coming up for sale in my area next month. It will take at least $2 Million dollars to buy this 1/4 section. So I would use the money you pay me for a 40 acre Iowa farm as part of the downpayment to purchase this 160 acre Iowa farm. I will sell you a corner piece out of the corner of a 1/4 section I own so you have road access to get your equipment in. This 40 acres is mostly Niccolent Loam Soil with a CSR Rating of 83 (Corn Suitability Rating). It is also pattern tiled for drainage, which is extremely important in Iowa. This 40 acres will do 220+bu for a corn yield. I am asking for the going rate for High-Quality Iowa farmland of $185 per CSR Point. This would be $15,355/acre or $612,200 for the entire 40 acres. Doing this would give me $612,200 for the downpayment on the 160 acre farm I would like to purchase next month when it goes on the market. For your information, it would be about impossible for you to ever find so small of a farm of just 40 acres for sale in Northern Iowa. The smallest available is an 80 acre farm. Anyway, if you are interested in doing business, just answer this post. I have a complete CSR Soil map, along with a very detailed tile map showing all the drain tile that I have had installed on this 40 acres. Again, this is a CLASS A soil type Iowa farm with an excellent 83 CSR soil average, this is about as good as it gets in Iowa for high-quality corn dirt.

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