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Post by MoBuckChaser on Dec 31, 2019 8:52:13 GMT -6
Sounds like you made some great money any way you look at it. What caused the land to be at such a good value, recession, bad commodities, divorce? For the purpose of trying to find a place to hunt and not flip I doubt I would ever get close to 50-60% against comps. If I buy a second farm it would probably be a few years away as I need to digest the new OZ house first. We have stuff to pay for including landscaping, furniture etc. My wife is already in overdrive on some of this stuff. There will be a parade of contractors and vendors coming to our place for the next couple of years. Still, I’m a long-range planner so I like to start looking now so I can educate myself. If I fell into a perfect situation (Spectacular comps, more Ag then Timber and the right size) then my timing would change. Deals are out there all the time. This one in Allendale MO was an absolute auction sale from an elderly ladies estate. No relatives in the area. What I used to do was to contact every real estate agent in areas I thought held distressed properties tell them I am a cash buyer and can close quickly. That is what I have done in Missouri as well and how I found out about this auction. It was at the tail end of $8 corn. And most farmers in that area all just purchased huge lines of new JD equipment. So not much cash on hand. They buy the toys, I buy the sandbox. Rent was still high then. $200-$300 per acre was common. So even with 9th grade math skills. Anything under $2K an acre was a steal. My actual cost basis was close to 40% when I sold the 200 acres. But I have sold properties before with 0 cost basis also. Been doing it for years.
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Post by Bwoods11 on Dec 31, 2019 9:02:36 GMT -6
Jerry—are you going to look in MN?,,, or?
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Post by MoBuckChaser on Dec 31, 2019 9:11:34 GMT -6
Stay out of NW Iowa. All those hog farms are buying up land to spread manure on because all their own land is maxed out on gallons. Those guys are paying double what land should be bought at to make a profit from farming.
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Post by Sandbur on Dec 31, 2019 9:29:43 GMT -6
Stay out of NW Iowa. All those hog farms are buying up land to spread manure on because all their own land is maxed out on gallons. Those guys are paying double what land should be bought at to make a profit from farming. Not always in Iowa!
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Post by Freeborn on Dec 31, 2019 10:24:57 GMT -6
Jerry—are you going to look in MN?,,, or? No Minnesota. Most likely Iowa and Missouri. Mix of Ag to woods 50/50 if possible.
Size of property will depend on economics of the property but most likely a smaller parcel, +- 100 acres.
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Post by batman on Dec 31, 2019 10:53:20 GMT -6
Jerry—are you going to look in MN?,,, or? No Minnesota. Most likely Iowa and Missouri. Mix of Ag to woods 50/50 if possible.
Size of property will depend on economics of the property but most likely a smaller parcel, +- 100 acres.
Have you ever run the numbers on leasing vs owning hunting land or is that not an interest?
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Post by Freeborn on Dec 31, 2019 11:16:39 GMT -6
No Minnesota. Most likely Iowa and Missouri. Mix of Ag to woods 50/50 if possible.
Size of property will depend on economics of the property but most likely a smaller parcel, +- 100 acres.
Have you ever run the numbers on leasing vs owning hunting land or is that not an interest? I have not thought about leasing but I should. It would be allot less capital intensive. How do you find land that is available?
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Post by batman on Dec 31, 2019 11:37:27 GMT -6
Have you ever run the numbers on leasing vs owning hunting land or is that not an interest? I have not thought about leasing but I should. It would be allot less capital intensive. How do you find land that is available? There are websites like baseeampleasing etc but I bet an Onxmapping subscription to areas you desire could yield fruit. OnX has mailing address' of landowners you could solicit. I used to get use local newspapers around the Monticello area to advertise for deer leases and local farmers would call me.
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Post by Freeborn on Dec 31, 2019 11:41:06 GMT -6
I have not thought about leasing but I should. It would be allot less capital intensive. How do you find land that is available? There are websites like baseeampleasing etc but I bet an Onxmapping subscription to areas you desire could yield fruit. OnX has mailing address' of landowners you could solicit. I used to get use local newspapers around the Monticello area to advertise for deer leases and local farmers would call me. Now that's a good idea!
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Post by MoBuckChaser on Dec 31, 2019 12:03:41 GMT -6
Have you ever run the numbers on leasing vs owning hunting land or is that not an interest? I have not thought about leasing but I should. It would be allot less capital intensive. How do you find land that is available? Northern Mo is very hard to lease land. Outfitters grab all they can. But the kids that worked for me found 260 acres there off the base camp leasing. $6500
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Post by Freeborn on Dec 31, 2019 12:08:50 GMT -6
I have not thought about leasing but I should. It would be allot less capital intensive. How do you find land that is available? Northern Mo is very hard to lease land. Outfitters grab all they can. But the kids that worked for me found 260 acres there off the base camp leasing. $6500 $25 per acre, is that typical?
I hunt alone so I would not need a big place. 80-100 acres would be fine.
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Post by Bwoods11 on Dec 31, 2019 12:24:33 GMT -6
I would look at Iowa, Missouri of possibly South Dakota.
Parts of Iowa can be good cash flow, but also tough tags. Missouri May be less cash rent, but lower taxes, easier tags.
Personally I like Iowa since you can bow hunt in November uninterrupted... always a chance at a real big buck.
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Post by Freeborn on Dec 31, 2019 12:46:41 GMT -6
I would look at Iowa, Missouri of possibly South Dakota. Parts of Iowa can be good cash flow, but also tough tags. Missouri May be less cash rent, but lower taxes, easier tags. Personally I like Iowa since you can bow hunt in November uninterrupted... always a chance at a real big buck. How is Iowa for a rifle tag? I like Iowa but I'd like Iowa better if I could hunt every year. It would be hard to rationalize Iowa if you could only hunt every 3 years.
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Post by Bwoods11 on Dec 31, 2019 12:57:44 GMT -6
If you were to buy in my zone in Iowa ... you can buy a gun tag every year, archery is every other. You can factor in 2 things... $1000-1200 cost for the tag and taxidermy bill.
I may know of a 120 .,, 70 tillable, 50 timber. Excellent hunting. I’ll keep you posted.
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Post by Bwoods11 on Dec 31, 2019 12:59:57 GMT -6
Also Iowa is shotgun... but you can use .450 Bushmaster. Late season Muzzy is great as well.
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