What Mistakes Did You Make When buying Your Hunting Property?

[bwoods11]

Having land in two states, can be a challenge. A few things I've learned. You need to make a local friend who will watch over it for you.

Work with a farmer who will leave some crop for you (plots).

Set weekends aside to get things done, combo shed hunting and setting up stands or chainsaw work.

Good fences and lots of cameras on the farm. Trespassing might happen, but make it very hard for them to trespass. Knowing the neighbors helps.

*like Freeborn said, ROI, is key ...make sure you consider income opportunity. 50/50 farms are my preference, in some cases more tillable than timber.

 

[MoBuckChaser]

I don't have a choice about being an absentee owner as I am still working and will be for at least another 6+ years. I'm OK with work as you got to make hay while you have the opportunity and I don't plan on leaving that opportunity to soon. Being an Absentee owner is not the best situation but I can't let it stop me from doing the things that are important to me. Once I retire having two properties will be fine as I have family and a family cabin near my farm.

If i purchase a place it will have to include a high percentage of farm land as I'm a ROI guy just like you Mo.

ROI comes in several different ways Jerry. If you enjoy hunting whitetails, you don't have to have the land pay for itself. God knows we don't get any return to speak of in MN. But having some type of fixed income attached to a property does help. I just sold a good money maker that had the most deer per square acre as I have had on any property. And we did not do much to that property, it was just naturally a deer haven with all that over grown river bottom. But the sale price was so high, I ain't a fool, it had to go. Now I am try to roll the money into two properties that are both good, but no where near the income producers. Hoping to get them 30% under market, that will make up for limited yearly income. So maybe that would work for you?

 

[Freeborn]

ROI comes in several different ways Jerry. If you enjoy hunting whitetails, you don't have to have the land pay for itself. God knows we don't get any return to speak of in MN. But having some type of fixed income attached to a property does help. I just sold a good money maker that had the most deer per square acre as I have had on any property. And we did not do much to that property, it was just naturally a deer haven with all that over grown river bottom. But the sale price was so high, I ain't a fool, it had to go. Now I am try to roll the money into two properties that are both good, but no where near the income producers. Hoping to get them 30% under market, that will make up for limited yearly income. So maybe that would work for you?

That only works if you turn the properties and I move allot slower than you do. I like my regular income and diversity of income stream. Capital appreciation is great but farm income is a better long term investment for me especially if the land is purchased correctly. I see buying at the right price key to purchasing land and I am patient. In fact, I'm still in the thinking about it mode which is why I posted. I'll start looking at properties once I am convinced its the thing to do. Maybe this summer I need to visit Missouri.

 

[MoBuckChaser]

That only works if you turn the properties and I move allot slower than you do. I like my regular income and diversity of income stream. Capital appreciation is great but farm income is a better long term investment for me especially if the land is purchased correctly. I see buying at the right price key to purchasing land and I am patient. In fact, I'm still in the thinking about it mode which is why I posted. I'll start looking at properties once I am convinced its the thing to do. Maybe this summer I need to visit Missouri.

You ever want to come look around just let me know. Don't be like a buddy of mine that has been looking for the right property for the last 25 years......still doesn't own any.......

 

[swat1018]

I own in MO, as well. Live 400 miles away. I make it out every 4-6 weeks on average for a long 3-4 day weekend. I usually am there half of November, as well. I do most of the plotting myself. I have good equipment, including a no-till drill I am learning to master. I use the MDC private land conservationist to get cost-share on my timber work. They paid for a forest plan on both farms, and I have been getting cost share every year to do edge feathering and TSI. I have been able to hire the saw work done for the cost-share payment, so far, with nothing paid out-of-pocket. They also gave me beans, sorghum, and millet seed this year to plant.

I have a great neighbor too, and lots of cameras, including 3 cell phone cameras. I let me neighbor turkey hunt, that is his passion. He deer hunts a little after I finish, but when I tell him a deer is off limits, he is good with it. I also have about a 1 acre lawn that he mows, all he asks for is some gas money. I always send him a nice big gift certificate for Christmas. We both are happy.

It's not ideal, but I retire in about 6-7 years, and will have to do till then. In the mean time I'm looking for a big farm in N. Missouri. I'd like to trade up to 700+ acres.....

 

[Freeborn]

I own in MO, as well. Live 400 miles away. I make it out every 4-6 weeks on average for a long 3-4 day weekend. I usually am there half of November, as well. I do most of the plotting myself. I have good equipment, including a no-till drill I am learning to master. I use the MDC private land conservationist to get cost-share on my timber work. They paid for a forest plan on both farms, and I have been getting cost share every year to do edge feathering and TSI. I have been able to hire the saw work done for the cost-share payment, so far, with nothing paid out-of-pocket. They also gave me beans, sorghum, and millet seed this year to plant.

I have a great neighbor too, and lots of cameras, including 3 cell phone cameras. I let me neighbor turkey hunt, that is his passion. He deer hunts a little after I finish, but when I tell him a deer is off limits, he is good with it. I also have about a 1 acre lawn that he mows, all he asks for is some gas money. I always send him a nice big gift certificate for Christmas. We both are happy.

It's not ideal, but I retire in about 6-7 years, and will have to do till then. In the mean time I'm looking for a big farm in N. Missouri. I'd like to trade up to 700+ acres.....

Thanks swat1018, good neighbors are invaluable. On the other hand bad neighbors cost you the enjoyment of your property.

Thanks for sharing your experience. 700+ acres, that would be a dream farm.

 

[bwoods11]

Buying up, can happen and if you know what you are doing (it can set you for life). Friend of mine, originally from Michigan, bought an 80 in early 2000 in Iowa. Buying, selling and flipping since. He now has close to 2000 acres of the most prime hunting/income land in Southern Iowa.

They shoot 170-200 inchers and collect huge cash rent and CRP checks. He also has a 30 acre orchard... This guy has Donald Trump work ethic, and it's paying off!!

 

[chickenlittle]

At least for me, having property in 2 states would be an advantage due to the hunting seasons, regulations, tags, etc but it depends on taxes and properties being located close enough. I live in NY, own property in PA (that needs sold) and hunt and habitat on the family farm in PA (2 hour drive). A NY hunting property would be attractive for me if close enough to my home. Even better, would be on my route to PA. The deer seasons do not completely overlap and NY allows Sunday hunting while PA does not.

The point is moot at the moment as I am too busy with family and work to hunt much and I have not hunted in NY the last couple years.

 

[swat1018]

I think it can be done without a local in some instances, but it helps. If you only plan on going to the farm twice a year, you will probably need help. My neighbor doesn't do any work on the farm, other than mow my yard. His presence is the key.....

 

[Redonthehead]

You ever want to come look around just let me know. Don't be like a buddy of mine that has been looking for the right property for the last 25 years......still doesn't own any.......

Waiting too long for the right place to come up for sale was probably my biggest mistake in buying land. Should have been paying off land 30 years ago rather than funding retirement. I am set pretty good now having dove in on land that could be "fixed up" 7 years ago. Four 150's now. Stopped by at noon today and there were 11 deer in the food plot. oh, and its in MO! taxes are about $1 an acre.

 

[Bill]

As a long distance owner one thing that has been very beneficial to me is a regional airline. Didn't know it when I bought the place. But by chance learned Cape Air runs a small fleet of 10 seater prop planes out of St. Louis to destinations in MO, IL and KY. $49 one way. If I catch the layover right I can be door to door in about 5 hours which beats the heck out of 18 hours in a truck. The really good thing is free parking at the regional airport. My truck often sits there for weeks.

Im very fortunate to be able to get there often but do have 2 good neighbors, a father and son. They plant my crop ground on 1/3 share and look out for the place when I'm gone. Actually the father gets the first call if my monitored burglar alarm goes off.

Which is another good point if you're not going to be close its a good idea to buy where water, electric and phone/internet are available. I have a video monitoring system in and around the house, monitored Alarm system and RF trail cameras. All of which can be accessed remotely. There's a few cabins in the area off grid and they get broke into all the time.

 

[Bill]

Taxes. The first few years I owned the place my wife opened the tax bill and asked, "is this a quarterly bill?"
She couldn't believe how cheap it was. But personal property taxes hurt. My truck costs $800/ year.

 

[MoBuckChaser]

Taxes. The first few years I owned the place my wife opened the tax bill and asked, "is this a quarterly bill?"
She couldn't believe how cheap it was. But personal property taxes hurt. My truck costs $800/ year.

You leave one at your place? Can't you keep it licensed in NJ?

 

[Bill]

You leave one at your place? Can't you keep it licensed in NJ?

Usually it's at the airport out there. Right now it's in NJ because return flights the week after thanksgiving were crazy high. Typically it's cheaper to fly than drive if I book early.
I could license it in NJ, but I like blending in and in truth it's there 90% of the time.

 

[Someday isle]

Pick the right agent who understands your goals and find out about the neighbors. I just bought my first property this year. It's 36 acres and I couldn't be happier at this point. I'm not sure if they're horror stories or not but I looked on and off for five years before pulling the trigger. I called a local agent from a brand name realtor specializing in hunting properties when I first started looking. He hooked me up with one of "his guys" who is supposed to be a big time competition shooter and video TV guy. He mostly wanted to talk to me about bar fighting and show me properties he didn't have listed but he knew the guys would sell to the right buyer. Everything felt shady. He never showed me a legitimate listed property and every property I asked to look at was never available. Second agent was a former professional athlete. Nice enough guy. After only a couple months it became clear his goal was to deal in million dollar properties and I wasn't really worth his time. I did most of the work. I finally called the agent who was the property manager for the first commercial property that I leased when I started my business 25 years ago. I asked if he could recommend an agent. He used to deal in rural land and is now mostly commercial. He said he still did some private sales for friends. He met me for lunch and we discussed all of my goals, what I'd like, what I must have, what I could do without, what my budget was etc... He even bought lunch. We started looking and within 48 hours he'd found dozens of properties. After some google earth and some phone calls we started putting boots on the ground. He busted his butt for me both finding properties and walking them afterwards.

On the third to last property we looked at we were met by a neighbor. We were on a county road in St. James, MO wine country. He was dressed in army fatigues and a mil-surp hat from WWII. He told us "trespassers" to get the you know what off his land and was kind enough to show us the big hog leg revolver on his hip. He told us the county stole that road from him 12 years ago and he was suing his idiot lawyer, the county, the property owner of the land we were there to look at, and if I bought the land he'd sue me too. We told him to have a nice day and backed our way out of there. The biggest lesson I learned that day was research the neighborhood. Two properties and a week later I walked the property that I now own. While it was smaller than I envisioned it had everything else. As part of my deal I had the agent write in the contract, at his suggestion, that I wanted to meet or speak with the three neighbors who shared the access road. My agents research on the history and background of the property was probably overkill but I sure appreciated how thorough he was. In my case everything worked out great so far.

My advice based on my very limited experience is this
1) find an agent that will listen to your goals. If your agent isn't working for you find another one. I preferred having my own "buyer's agent" and didn't want to use the "seller's agent". I'm sure there are great ones out there but unless you know one I think having your own agent is better. Remember that the agent works for you and not the other way around. They get paid when you get what you want.
2) meet the neighbors or at least thoroughly research the neighborhood
3) be patient but remain proactive in your search.

 

[Freeborn]

Pick the right agent who understands your goals and find out about the neighbors. I just bought my first property this year. It's 36 acres and I couldn't be happier at this point. I'm not sure if they're horror stories or not but I looked on and off for five years before pulling the trigger. I called a local agent from a brand name realtor specializing in hunting properties when I first started looking. He hooked me up with one of "his guys" who is supposed to be a big time competition shooter and video TV guy. He mostly wanted to talk to me about bar fighting and show me properties he didn't have listed but he knew the guys would sell to the right buyer. Everything felt shady. He never showed me a legitimate listed property and every property I asked to look at was never available. Second agent was a former professional athlete. Nice enough guy. After only a couple months it became clear his goal was to deal in million dollar properties and I wasn't really worth his time. I did most of the work. I finally called the agent who was the property manager for the first commercial property that I leased when I started my business 25 years ago. I asked if he could recommend an agent. He used to deal in rural land and is now mostly commercial. He said he still did some private sales for friends. He met me for lunch and we discussed all of my goals, what I'd like, what I must have, what I could do without, what my budget was etc... He even bought lunch. We started looking and within 48 hours he'd found dozens of properties. After some google earth and some phone calls we started putting boots on the ground. He busted his butt for me both finding properties and walking them afterwards.

On the third to last property we looked at we were met by a neighbor. We were on a county road in St. James, MO wine country. He was dressed in army fatigues and a mil-surp hat from WWII. He told us "trespassers" to get the you know what off his land and was kind enough to show us the big hog leg revolver on his hip. He told us the county stole that road from him 12 years ago and he was suing his idiot lawyer, the county, the property owner of the land we were there to look at, and if I bought the land he'd sue me too. We told him to have a nice day and backed our way out of there. The biggest lesson I learned that day was research the neighborhood. Two properties and a week later I walked the property that I now own. While it was smaller than I envisioned it had everything else. As part of my deal I had the agent write in the contract, at his suggestion, that I wanted to meet or speak with the three neighbors who shared the access road. My agents research on the history and background of the property was probably overkill but I sure appreciated how thorough he was. In my case everything worked out great so far.

My advice based on my very limited experience is this
1) find an agent that will listen to your goals. If your agent isn't working for you find another one. I preferred having my own "buyer's agent" and didn't want to use the "seller's agent". I'm sure there are great ones out there but unless you know one I think having your own agent is better. Remember that the agent works for you and not the other any around. They get paid when you get what you want.
2) meet the neighbors or at least thoroughly research the neighborhood
3) be patient but remain proactive in your search.

Good advice Someday isle. Meeting the neighbors is key. Seems like the less neighbors on your borders the better.

 

[Kenny]

I looked at listed properties for a few years and they were all pretty much overpriced. I had good luck with my land purchase by going to land auctions. You have to be patient but if your at the right place right time you can get a deal.


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[MoBuckChaser]

I looked at listed properties for a few years and they were all pretty much overpriced. I had good luck with my land purchase by going to land auctions. You have to be patient but if your at the right place right time you can get a deal.


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Auctions are great sometimes. The 200 acre piece I just sold was bought at a land auction 3 years ago. It was a steal when I bought it. One thing people need to know is most land auctions have terms stating you must put down a large down payment that is non refundable if you are the winning bidder. And closing is usually within 30 days of the auction. You need to have your cash ready to go. They frown on you trying to get a loan after the auction. If you do need a loan to buy, Get pre-qualified, so a guy is good to go. And set your limit, so you don't exceed that amount! I have seen people get caught up in the bidding excitement and with a fast auctioneer, they have paid to much before they know it!

 

[John-W-WI]

I bought my place in 2010 at nearly 2x the going rate.... BUT. It was 180 acres 10 miles from town. In our area finding anything larger than a 40 anywhere near town is rare.

I didn't buy it for an investment so to speak, I was looking for a place to eventually build my home and grow old. 10 years later and I'm starting to look pretty smart. Much smaller parcels are starting to sell near the price per acre I purchased mine for. Just a couple more years and I'll be brilliant. And I've managed to buy some adjoining parcels that weren't as big at a better price.

I guess it has everything to do with what your motives are. If it's an investment property you need to be much more tuned into the market. If it's a long term play you can be a little more reckless. I was and I'm glad I did it.

As the old timers always say "They quit making land a long time ago".

-John

 

[Freeborn]

I looked at listed properties for a few years and they were all pretty much overpriced. I had good luck with my land purchase by going to land auctions. You have to be patient but if your at the right place right time you can get a deal.


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Thanks Kenny, I have always thought you make your deal when you buy your land. Buy it right and you should do well with it. How did you find land auctions?