A little further down the road from Paradise

Howboutthemdawgs

5 year old buck +
…or maybe closer, that remains to be seen. I previously started and later closed a land tour of my previous farm called Down the Road from Paradise due to the proximity to the Paradise coal plant in kentucky. I sold that property in June and simultaneously closed on this one. Ironically it’s about 10 minutes from my old property. I liked my old property but the living arrangements weren’t suitable for spending much time in due to being of the grid and definitely weren’t much for my wife and little girl. The new place is a little bigger but has a nice metal cabin that was just built last year. My wife and girl have already stayed 4 weekends since June, my parents have stayed there and my in laws so it’s already been worth the move regardless of the hunting.

The property has 60 acres tillable and the balance is timber with the bulk of that having been select cut maybe 4 years ago. Of course they high graded most of it but there is still some quality mast producers and honestly the succession is much more suitable for holding deer now than had it not been cut. Another thing I liked was it had a new 2.5 acre pond. Just stocked last spring. I’ve gotten into managing that so I’m excited about the possibilities there.

Having closed in June, and being hot and me having a severe aversion to heat I haven’t done much towards getting ready for deer season. And honestly I may not do a ton this year. May lay low and see how the property lays, just being low impact on the perimeters. As I’ve stated in previous thread, I have an outfitter behind me. They suck to put it bluntly. Basically 8 point minimum. 2 other neighbors seem fine but may not pass on a nice 3 year old and one neighbor is great. Definitely on the same page.

I’ll update as I go and hopefully I have some cool things to show. 762B6C35-A251-469B-A332-008280457B0C.jpeg6478B185-2944-4F90-BEA0-BA04CF4E942B.jpeg
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Kdog

5 year old buck +
You definitely made the right move! Great looking place!
 

buckdeer1

5 year old buck +
Nice place,how much total ground?Do you rent out the 65 acres for crops or all food plot?
 

Howboutthemdawgs

5 year old buck +
Nice place,how much total ground?Do you rent out the 65 acres for crops or all food plot?
It’s 306 total. I do rent it. Im going to rearrange a few things so it’s more what I want. This year im leaving 3.5 acres standing. Im going to see if I he interested in putting 9 acres in alfalfa this spring or possibly running beans again next year. I really don’t care for corn a whole lot
 

buckdeer1

5 year old buck +
Sounds reasonable,doesn't sound like you are lacking on food or cover,what about doing front field corn to screen back part of field
 

Howboutthemdawgs

5 year old buck +
Sounds reasonable,doesn't sound like you are lacking on food or cover,what about doing front field corn to screen back part of field
Yeah that’s a possibility too. The 9 acres I want to do In alfalfa or keep in beans is in the back so it would be completely screened if the balance was in corn.
 

b116757

5 year old buck +
Alfalfa is a ton of work if your baling it every 3-4 weeks if your just mowing it off it wouldn’t be as bad. I’d probably just let the farmer rotate the crop on it with the rest.
 

Turkish

5 year old buck +
Congrats! Not to drift off topic, did you list your land for sale before offering on the new piece? Would you mind talking about the buying/selling process of “trading up” a little? I’m in the same position right now and wondering the best order to do things.
 

Tree Spud

5 year old buck +
Love that view in the 2nd picture, great looking property HB!
 

Howboutthemdawgs

5 year old buck +
Congrats! Not to drift off topic, did you list your land for sale before offering on the new piece? Would you mind talking about the buying/selling process of “trading up” a little? I’m in the same position right now and wondering the best order to do things.
Yeah absolutely. I wasn’t necessarily looking to sell my place but I decided one day to go look at this land cause it was so close to my old place. Fell in love with the cabin and shops and view. I overlooked some of the flaws cause there isn’t ever a perfect piece I don’t think unless you are filthy rich. Went ahead and offered and made a deal. At the same time I worked with those same agents to list my place because they actually were the listing agents when I originally bought my place. Luckily it sold before it ever technically hit the market, thank god cause I think things have definitely cooled. The closings ended up being like 20 days apart (bought the new piece first) so it all worked out.

If I didn’t cover a specific question just let me know, I’ll be more than happy to help. I think the one thing about selling land in a timely mannner is simply having something that is desirable. Put in the work, make it nice and presentable, good buck pics certainly help, at the end of the day hunters were my only real target. Sure some buyers want a deal on a turd they can polish but you will cast a wider net with a prettier property.
 

Turkey Creek

5 year old buck +
Yea the market seems to be cooling off, we are happy with the piece we bought. The market was so ridiculous, propertys were literally on the market for less than a week, offers were always over the asking price and lots of buyers had no reason to pay for any expenses or inspections. We lost out on a couple others that we made offers on. Looks like you made a great "trade".
 

buckdeer1

5 year old buck +
Check out The Land Podcast it talks alot about trading up and even some of the tax breaks.Also how to use the equity on your old piece to cove the down payment
 

Turkish

5 year old buck +
Check out The Land Podcast it talks alot about trading up and even some of the tax breaks.Also how to use the equity on your old piece to cove the down payment
Im a subscriber and listen to every episode, but I don’t find it terribly relevant to my situation, unfortunately. Too many case studies from Iowa land investors that bought in the early 2000s when a chimpanzee could’ve made money. Also those folks have lots more risk tolerance and bullish attitudes toward land investing than I think is wise in my area. You’d think the host was a real estate agent or something. Hahaha
 

Howboutthemdawgs

5 year old buck +
Im a subscriber and listen to every episode, but I don’t find it terribly relevant to my situation, unfortunately. Too many case studies from Iowa land investors that bought in the early 2000s when a chimpanzee could’ve made money. Also those folks have lots more risk tolerance and bullish attitudes toward land investing than I think is wise in my area. You’d think the host was a real estate agent or something. Hahaha
I’m sure there’s little strategies and tricks to buying land and flipping it or programs to give up some rights to offset costs or what not but I don’t have the appetite for a lot of that stuff. I either have the money or I don’t. My farm is my passion, I don’t want to play games on affordability. It would be too stressful for something that should bring you great joy.
That’s my strategy, spend what you can afford and upgrade when you are in a position to. I hope to upgrade one day lord willing but if I don’t it’s because I couldn’t afford it.
 

Turkish

5 year old buck +
W
I’m sure there’s little strategies and tricks to buying land and flipping it or programs to give up some rights to offset costs or what not but I don’t have the appetite for a lot of that stuff. I either have the money or I don’t. My farm is my passion, I don’t want to play games on affordability. It would be too stressful for something that should bring you great joy.
That’s my strategy, spend what you can afford and upgrade when you are in a position to. I hope to upgrade one day lord willing but if I don’t it’s because I couldn’t afford it.
We sound a lot alike. A lot! Were you moving forward with closing on the new one even if you hadn’t sold the old one? While I could afford owning both and could easily get the loan for the new one without selling, I really don’t want that big of a note, nor do I really want that much tied up in rec land at once. I also don’t want to have a deal to sell without knowing what I’m buying to replace it.

Maybe I’m trying to have my cake and eat it, too…
 

Howboutthemdawgs

5 year old buck +
W

We sound a lot alike. A lot! Were you moving forward with closing on the new one even if you hadn’t sold the old one? While I could afford owning both and could easily get the loan for the new one without selling, I really don’t want that big of a note, nor do I really want that much tied up in rec land at once. I also don’t want to have a deal to sell without knowing what I’m buying to replace it.
Great question…yes. At the end of the day I felt like my other farm was a desirable enough product that it would eventually sell. Worse case scenario maybe not for what I wanted but nowhere near a loss. I could have afforded both but I dang sure didn’t want to! But don’t think the prospect of having two farms to hunt didn’t cross my mind.
 

Telemark

5 year old buck +
Congrats! Not to drift off topic, did you list your land for sale before offering on the new piece? Would you mind talking about the buying/selling process of “trading up” a little? I’m in the same position right now and wondering the best order to do things.

Look at the different types of 1031 exchanges. They will explain the process in terms of what order you can do things in. It's not difficult, but you need to deal with dependable people and have all your ducks in a row.
 
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