Inheriting land

[galway_blow_in]

I'm a pretty fortunate individual,I had several uncles who were life long bachelors who happened to own farms, I'm about to inherit more land which has a potential value of 400k

I could simply lease it out to a farmer but with beef prices so bad, I'm not sure how strong a hand that sector is going to have going forward, would probably be worth about 8000 per annum to rent out on a good day

Were i to sell it and perhaps put the money in an Irish reit or an investment trust with a diversified equity exposure, the 400k would probably do better long term and deliver an equally good yield?

Forestry is an option but i sort of wonder if exit options upon maturity will be limited, i mean what option is there but to sell down the line?



I own my own home outright

 

[joe sod]

Yea you are lucky, if I was you I would keep it and rent it out, after all you inherited it, it's not like an investment that you bought with your own money . As for beef farming its going through a difficult spell but I think globalisation and the ever growing world population trumps people's environmental concerns in Europe. It's a misplaced concern with regard to beef farming in Ireland anyway as it has probably the lowest impact of all. Dairy and arable farming have a much bigger environmental impact. Anyway in the west of Ireland it's predominantly a cow and calf grazing on a green field as nature intended.
What's the alternative urbanization and pouring concrete on that lovely green field, the bull McCabe wouldn't have that.

 

[Ravima]

I differ.

There is the sentimental value of the land and it is not possible to put a monetary value on this. There is then the income derived from the land. Land will not produce much income. You may be better to sell and invest in something that will give a better income. It is a choice that must be made.

 

[noproblem]

How much tax would you have to pay if you sold the land and what money would you be left with when all the expenses are paid?