CASH OUTAnd Keep Farming:Growers opt to sell and lease-back their land to investors to free up capital or ease into retirement

摘要

John Gomez, of Buhl, Idaho, recently sold a family farm to an investor. But he plans to continue producing crops on the land for at least three years. Gomez sees the sale and leaseback as a way to eventually retire.Through a mutual acquaintance, Gomez met with representatives of U.S. Trust, a division of Bank of America Private Wealth Management. One of the bank's investor clients purchased the farm."The investor hasn't visited, and I doubt that heever will," says Gomez, who says his farming practices haven't changed since the deal was signed. A farm manager with U.S. Trust does occasionally visit."I want him to come by when he's in the area," Gomez says. "We go out to supper, and I show him how well his investor's land is producing corn— 30 to 34 tons of silage per acre."Gomez, who also owns multiple nonfarm businesses in Idaho and North Dakota, had a stroke in 2012 and has turned everything but agriculture over to his son to manage.