The value of the investment is the sum of the first three points
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- No investment is perfect. Value is a relative and subjective judgement:
- There is no point purchasing a great farm at too higher price:
- There is no point in purchasing a cheap farm that has inherent problems:
- The job of the manager is to identify value, follow up with a due diligence process that confirms his initial
thoughts, and then purchase the asset at the lowest possible price:
- Value is not just seen in monetary terms. A hard working, highly skilled and honest tenant is invaluable