This letter is intended only for accredited investors who are clients of either Blackburne & Brown or C-Loans, Inc. You signed up for this letter with Blackburne & Brown or by using C-Loans.com. Removal instructions are below. Today we'll discuss the ease of finding tenants for farm land.

Joke Du Jour

A census taker in a rural area went up to a farmhouse and knocked. When a woman came to the door, he asked her how many children she had and their ages. She said, "Let's see now, there's the twins, Sally and Billy - they're eighteen. And the twins, Seth and Beth - they're sixteen. And the twins, Penny and Jenny - they're fourteen ..." "Hold on!" said the census taker, "Did you get twins every time?" The woman answered, "Heck no, there were hundreds of times we didn't get anything."

You Can Always Find a Farmer

Let's suppose you own an office building, and you lose your tenant during a recession. It could easily be one, two, or even three years before you find a new tenant. In the meantime you're carrying the cost of the real estate taxes, the insurance, the exterior maintenance, and the cost of heating the building during the winter to keep the pipes from freezing.

But if you own farm land, you can almost always find a farmer to lease the land. Farmers always want more land to till, even during recessions. Are you willing to consider farm land investments? If so, please click here.

Soup Joke

Mr. Gable had a leak in the roof over his dining room, so he called a repairman to take a look at it. "When did you first notice the leak?" the repairman inquired. Mr. Gable scowled. "Last night, when it took me two hours to finish my soup!"

But, George, Farm Rents Are Sooo Low

The cap rates on commercial buildings have compressed significantly over the past seven years. Suburban apartments used to sell at 9% to 9.5% cap rates. Today they sell at cap rates in the 5% to 6% range. Well-located buildings sell for even lower cap rates. In comparison, the 2.5% to 3% cap rates offered by farm investments no longer look ghastly. And the upside potential for corn farm land looks far more exciting than the upside potential for improved commercial properties.

Are you willing to consider farm land investments? If so, please click here.

Fun Stuff

My oldest son, George IV, got me the coolest present for my birthday. It was a DVD produced by the History Channel entitled, Decisive Battles of the Ancient World. Using computer animation and graphics, the producers were not only able to show the troop formations, but they were able to actually show the individual warriors battling. Last night, while we worked out together, we watched a chariot battle between the Hittites and the Egyptians under Ramses II. It was really an awesome spectacle.

On Sunday nights at 8:00 p.m. on the Discovery Channel they are now broadcasting a fantastic new program entitled Planet Earth. Surprisingly, my college-aged son (parties, beer ... and he's watching nature?) told me about it. The show took five years to film, and the photography of nature is the most amazing you've ever seen.

Speaking of my 22 and 20 year old sons, my wife asked the Boys if they still wanted Easter baskets (candy, DVD's, treats) this year. "Absolutely!", was the immediate response. "Dad, I'm a grown man now (... but Mom, you know I really love those chocolate bunnies).

Shotgun Joke

Rummaging through her attic one day, my friend Kathryn found an old shotgun. Unsure of how to dispose of it, she called her parents. "Take it to the police station," her mother suggested. My friend was about to hang up when her mom added... "And, Kathryn?" "Yes, Mom?" "Call them first, and let them know you're coming."

Gold Doing Well

Are you following the price of gold? It's back up to almost $680 per ounce. Most investors buy gold because it's a hedge against inflation. But mark my words - investors will someday flee to gold because gold held in your own physical possession cannot default.

It's one of the reasons why I recently put my two sons' money into one of Blackburne & Brown's farm deals. Farm land owned free and clear cannot default, and it's easy to find a farmer to lease the land.

New Draftee Joke

Fifty-one years ago, Herman James, a North Carolina mountain man, was drafted by the Army. On his first day in basic training, the Army issued him a comb. That afternoon the Army barber sheared off all his hair. On his second day, the Army issued Herman a toothbrush. That afternoon the Army dentist yanked out seven of his teeth. On the third day, the Army issued him a jock strap. The Army has been looking for Herman for 51 years.

Corn Prices Still Historically Low

Corn prices peaked at $4.50 per bushel in February. Prices have backed off since then on reports that farmers will be planting 15% more corn this year. In the 1980's, however, inflation-adjusted corn prices were as high as $10 per bushel, according to the USDA.

---

Are you willing to consider farm land investments? If so, please click here.

---

A Tiny Bit Naughty ... But Very Funny

One day, a man came home and was greeted by his wife dressed in a very alluring nightie. "Tie me up," she purred, "and you can do anything you want." So he tied her up and went golfing.