Sunday, May 27, 2012

Rural Land Deals In Sussex County Delaware

There is a lengthy but interesting article by Liam Rogers on rural real estate at Exodus Valuations

A number of comments about land deals in Sussex County Delaware.   A taste of it is like this;

Twenty and thirty years ago thousands of people bought in to the “live on a farm and make a fortune” dream of owning a chicken house, home and acreage in Sussex County Delaware — the chicken capital on the world — exactly where there are quite a few million chickens for each individual who lives here. To get a short although it was feasible to take the “contract” from a chicken plant for the bank and with only that as collateral, get a loan for about ten acres, a home and no less than 1 chicken house. Several people soon found that the so referred to as contract had fine print and clauses that had been all in favor on the chicken plant and none in favor on the chicken grower. Soon most chicken growers had been operating complete time to help assistance the chicken business enterprise they had bought, along with it is mortgage of $200,000 or more, often substantially more.

Now when I appraise a chicken farm with house and acreage I appraise the operating chicken farm at zero — and that is genuinely also high a worth in some circumstances. You’ll find a great deal of a lot easier, superior smelling and cleaner jobs you are able to acquire with $200,000 or so. If you would like to produce a living developing chickens you must prepare to invest no less than a million dollars, you are able to finance it needless to say, and get quite a few chicken houses built around your home on 15 to 20 acres, in the event you do not mind the smell, and after that the ideal bet is to lease the business enterprise to someone who is running 20 or thirty chicken houses no less than.

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