Posts: 7,733
Threads: 851
Reputation:
126879
Joined: May 2015
Location: Ohio
Mood:
After becoming an investor in the new women's volleyball league, Joe is now reportedly part of a new project - along with Sam Hubbard and a few other athletes.
'CINCINNATI (WKRC) - Bengals quarterback Joe Burrow and defensive end Sam Hubbard are reportedly part of a group of professional athletes buying farmland in Iowa to lease back to farmers.
According to FrontOfficeSports.com the group is purchasing a 104-acre, corn- and soy-focused farm in northern Iowa that was arranged by Patricof Co. seeking a single-digit percentage annual return on the investment.'
Posts: 15,925
Threads: 407
Reputation:
90858
Joined: May 2015
Mood: None
Oof.... farming is a bad business to try to make money on these days. It's almost not doable. Not sure who he is getting investment advice from.
Posts: 16,388
Threads: 234
Reputation:
122306
Joined: Oct 2015
Mood: None
Don't love big money buying up farmland as a form of investment.
____________________________________________________________
Posts: 18,326
Threads: 218
Reputation:
169377
Joined: May 2015
Mood:
If you lease it they will come.
Posts: 5,776
Threads: 414
Reputation:
41189
Joined: May 2015
Mood: None
5 million between 20 athletes comes out to around 250k a person. Peanuts.
The boys are just talkin' ball, babyyyy
Posts: 5,776
Threads: 414
Reputation:
41189
Joined: May 2015
Mood: None
(01-10-2023, 02:31 PM)Sled21 Wrote: Oof.... farming is a bad business to try to make money on these days. It's almost not doable. Not sure who he is getting investment advice from.
He's leasing the land to farmers, not planning on making the money off farming. It's essentially a real estate investment.
The boys are just talkin' ball, babyyyy
Posts: 6,297
Threads: 106
Reputation:
45300
Joined: May 2016
Mood: None
Blake should teach Burrow some nice acting skills to get more advantageous calls from the refs. Then, I suppose, they could sell some corn at their farmer's stand on route 6.
Posts: 12,800
Threads: 129
Reputation:
82981
Joined: May 2015
Mood: None
Those huge farms farms in Iowa are a big deal. Highly likely its soy beans and that is money but the investment is in the land.
I have the Heart of a Lion! I also have a massive fine and a lifetime ban from the Pittsburgh Zoo...
Posts: 462
Threads: 55
Reputation:
4913
Joined: Apr 2017
Mood:
100 Acres is not much of a farm, especially in Iowa terms.
Posts: 15,925
Threads: 407
Reputation:
90858
Joined: May 2015
Mood: None
(01-10-2023, 02:47 PM)WeezyBengal Wrote: He's leasing the land to farmers, not planning on making the money off farming. It's essentially a real estate investment.
Right, but if his tenant farmers aren't making money, they can't make the lease payments.
Posts: 35,047
Threads: 49
Reputation:
226242
Joined: May 2015
Location: Star Valley, Wyoming
Mood: None
Farmers have it rough man, let alone tenant farmers. I don't know what to think of this honestly.
Reminds me of Far and Away. Great show BTW.
Posts: 5,812
Threads: 159
Reputation:
19883
Joined: May 2015
Location: Ohio
Mood:
Maybe this is the start of NFL players stopping Bill Gates from buying it all and controlling our food supply.
Sent from my SM-S515DL using Tapatalk
Posts: 12,800
Threads: 129
Reputation:
82981
Joined: May 2015
Mood: None
(01-10-2023, 04:55 PM)Sled21 Wrote: Right, but if his tenant farmers aren't making money, they can't make the lease payments.
It's the yearly increase in the value of the land that these guys invested in not the actual farming.
I have the Heart of a Lion! I also have a massive fine and a lifetime ban from the Pittsburgh Zoo...
Posts: 1,117
Threads: 44
Reputation:
5880
Joined: Mar 2017
Mood: None
(01-10-2023, 04:55 PM)Sled21 Wrote: Right, but if his tenant farmers aren't making money, they can't make the lease payments.
Quote "single digit percentage returns" makes it sound like its more to promote natural products instead of GMO (not trying to turn this into a pnR debate, just pointing out that phrasing seems to indicate its not entirely financially based from how I read it).
Posts: 2,559
Threads: 22
Reputation:
17054
Joined: Jun 2015
Mood: None
(01-10-2023, 07:35 PM)WVUHomer Wrote: Quote "single digit percentage returns" makes it sound like its more to promote natural products instead of GMO (not trying to turn this into a pnR debate, just pointing out that phrasing seems to indicate its not entirely financially based from how I read it).
This is correct. The single digit return makes this sound like more of a charitable, do good thing a bunch of athletes got together to do. Shockingly, Blake Griffin is in the picture w Joe and part of it, because he's an absolute D bag.
Now, watch it turn out to be a weed farm. Ahahahahaha!
Posts: 3,277
Threads: 9
Reputation:
11773
Joined: May 2015
Mood: None
(01-10-2023, 07:35 PM)WVUHomer Wrote: Quote "single digit percentage returns" makes it sound like its more to promote natural products instead of GMO (not trying to turn this into a pnR debate, just pointing out that phrasing seems to indicate its not entirely financially based from how I read it).
It's carefully crafted wording no doubt.
But if you think that the athletes are doing this for charity that's not the case. They see an investment opportunity to get richer. Land/leasing is good business.
Not knocking them, I'd do it if I could.
Posts: 1,355
Threads: 7
Reputation:
5924
Joined: Sep 2018
Mood: None
(01-10-2023, 02:31 PM)Sled21 Wrote: Oof.... farming is a bad business to try to make money on these days. It's almost not doable. Not sure who he is getting investment advice from.
I think investing in real estate is one the best investments you can make.But with farmland and this leasing program,not to sure how that works.But investing in real estate,if done correctly,can reap huge dividends.
Posts: 37,610
Threads: 892
Reputation:
123486
Joined: May 2015
Mood: None
Don't know much about how smart purchasing land in Iowa is, but I'd venture to say it will outlast the women's professional Volleyball League
Posts: 1,117
Threads: 44
Reputation:
5880
Joined: Mar 2017
Mood: None
(01-10-2023, 08:34 PM)CKwi88 Wrote: It's carefully crafted wording no doubt.
But if you think that the athletes are doing this for charity that's not the case. They see an investment opportunity to get richer. Land/leasing is good business.
Not knocking them, I'd do it if I could.
You could be right. Not saying the potential isn't there. But considering JB9s promotion of the food banks for impoverished people of Athens, buying stake in a farm with low returns gives me hope that that had some factor in the reasoning. He could also be using the farm to promote healthier choices in food. He does seem like the type to want the best for all people.
Posts: 15,925
Threads: 407
Reputation:
90858
Joined: May 2015
Mood: None
They also could be using it to take losses to offset taxes.
|