#233 - How a $240 Taxi Ride Led To His First 100 Acre Iowa Farm with Leo Lospoto

Welcome to the land podcast, a platform for people looking to educate themselves in the world of land ownership, land investing, staying up to date with current land trends in the Midwest, and hearing from industry experts and professionals. On today's episode, we are back in the studio with Leo Spoto. We discuss: How Leo went from a Bronx apartment to owning 245 acres of Iowa timber and creek bottom. Why buying 100 acres near Albia at $1,850 an acre felt like overpaying back in 2013. The expired driver's license that stranded Leo at the Des Moines airport before his first showing. Why Chase Bank wouldn't touch a land loan and a local Iowa banker wrote it anyway. How Leo closed on his first farm with $30,000 down when the bank wanted closer to $40,000. The 1031 exchange that rolled two small farms into one 214-acre piece he bought sight unseen. How walnut timber checks and an Iowa operating account carried a $2,600 monthly payment. Why Leo would now rather buy a landlocked 30 with an easement than a farm with road frontage. The roughly 250% return Leo has seen on Iowa ground since his first purchase in 2013. Why point creep and four kids finally pushed Leo to list the entire farm this year. And so much more! Thanks again for all of the support from our partners—none of this would've been possible without them! Buck Land Funding: https://www.firstbankers.com/bucklandfunding Hawke Optics | Use Code WHTL for 15% off: https://bit.ly/hawkeoptics_ OnX: https://bit.ly/onX_Hunt Painted Arrow: bit.ly/PaintedArrow Latitude Outdoors: https://www.latitudeoutdoors.com/ Whitetail Master Academy https://www.whitetailmasteracademy.com Use code 'HOFER' to save 10% off at www.theprairiefarm.com Massive potential tax savings: ASMLABS.Net