1
00:00:01,320 --> 00:00:04,640
Speaker 1: Welcome to the Wired to Hunt podcast, your guide to

2
00:00:04,680 --> 00:00:08,760
Speaker 1: the White Tail Woods, presented by first Light, creating proven

3
00:00:08,920 --> 00:00:13,120
Speaker 1: versatile hunting apparel for the stand, saddle or blind. First

4
00:00:13,200 --> 00:00:18,799
Speaker 1: Light Go Farther, Stay Longer, and now your host, Mark Kenyon,

5
00:00:19,600 --> 00:00:20,360
Speaker 1: Welcome to the.

6
00:00:20,600 --> 00:00:24,040
Speaker 2: Wired to Hunt podcast. This week on the show, I'm

7
00:00:24,120 --> 00:00:28,160
Speaker 2: joined by Jake Howford to discuss the very most important

8
00:00:28,200 --> 00:00:31,160
Speaker 2: things you need to consider. Went on the hunt for

9
00:00:31,480 --> 00:00:41,720
Speaker 2: a new deer hunting proper All right, welcome back to

10
00:00:41,880 --> 00:00:44,720
Speaker 2: the wired ton podcast, brought to you by First Light

11
00:00:44,920 --> 00:00:48,919
Speaker 2: and their Camel for Conservation initiative. And today we are

12
00:00:49,000 --> 00:00:52,240
Speaker 2: wrapping up a series that we loosely started a month

13
00:00:52,600 --> 00:00:56,800
Speaker 2: ish ago on access different ways to get access to

14
00:00:57,040 --> 00:00:59,600
Speaker 2: hunting ground. We've talked about leasing, We've talked about getting

15
00:00:59,640 --> 00:01:03,760
Speaker 2: free permi, and today we are going to discuss how

16
00:01:03,800 --> 00:01:06,680
Speaker 2: to buy a hunting property of your own, especially how

17
00:01:06,680 --> 00:01:09,840
Speaker 2: to buy your first You know that very first property

18
00:01:09,880 --> 00:01:12,760
Speaker 2: you take the leap on, takes some takes some nerve,

19
00:01:13,000 --> 00:01:15,440
Speaker 2: it takes some guts, It takes a lot of planning,

20
00:01:15,959 --> 00:01:19,000
Speaker 2: and for a lot of folks it is intimidating. So

21
00:01:19,040 --> 00:01:21,840
Speaker 2: today I'm joined by someone who has a lot to

22
00:01:21,920 --> 00:01:26,759
Speaker 2: share on this front. He is a real estate broker himself.

23
00:01:26,800 --> 00:01:30,679
Speaker 2: He's helped many people purchase their own first farms. He

24
00:01:30,720 --> 00:01:34,000
Speaker 2: has gone through this process himself and bought a farm

25
00:01:34,040 --> 00:01:37,120
Speaker 2: of his own too. And he is the host of

26
00:01:37,319 --> 00:01:40,800
Speaker 2: the Land Podcast, which is all about helping people get

27
00:01:40,800 --> 00:01:44,440
Speaker 2: the information they need to make a land purchase themselves,

28
00:01:44,760 --> 00:01:49,360
Speaker 2: a hunting, deer related, recreation property, whatever it is you want.

29
00:01:49,720 --> 00:01:52,480
Speaker 2: Jacoffer's got the information to help you do that. He's

30
00:01:52,600 --> 00:01:56,680
Speaker 2: also the host of the Exodus Trailcam radio podcast. He's

31
00:01:56,720 --> 00:02:00,840
Speaker 2: part of the Exodus Trailcam company crew. He does a

32
00:02:00,840 --> 00:02:03,720
Speaker 2: lot of great stuff. I am a big fan, highly

33
00:02:03,840 --> 00:02:08,959
Speaker 2: respect his opinions, his perspectives. He's a great communicator about

34
00:02:09,000 --> 00:02:11,360
Speaker 2: this stuff, and he really brings a lot to the

35
00:02:11,400 --> 00:02:13,640
Speaker 2: table because, like I said, he's been on all sides

36
00:02:13,680 --> 00:02:17,040
Speaker 2: of this equation. He's helped sell properties to people, he's

37
00:02:17,080 --> 00:02:20,200
Speaker 2: bought property himself, and he's talked to all sorts of

38
00:02:20,200 --> 00:02:22,480
Speaker 2: different experts on this very topic. So we're going to

39
00:02:22,520 --> 00:02:27,040
Speaker 2: get into everything from understanding, you know, what kinds of

40
00:02:27,040 --> 00:02:29,320
Speaker 2: folks should be looking at buying property, and maybe who

41
00:02:29,360 --> 00:02:31,600
Speaker 2: is buying property not right for We're going to talk

42
00:02:31,639 --> 00:02:33,680
Speaker 2: about how to know when you are ready. We're going

43
00:02:33,680 --> 00:02:34,799
Speaker 2: to talk about when's.

44
00:02:34,520 --> 00:02:35,119
Speaker 3: The market ready.

45
00:02:35,120 --> 00:02:40,280
Speaker 2: We're going to talk about financial issues, market related issues, understanding,

46
00:02:40,360 --> 00:02:44,919
Speaker 2: how to determine the fair price for property, red flags

47
00:02:44,919 --> 00:02:48,160
Speaker 2: when looking at hunting properties, to buy, green lights, things

48
00:02:48,160 --> 00:02:49,720
Speaker 2: that should make you want to jump right on it.

49
00:02:49,760 --> 00:02:53,840
Speaker 2: We discussed different ways to you know, obtain new income,

50
00:02:54,040 --> 00:02:57,519
Speaker 2: different ways to make properties more affordable, all sorts of

51
00:02:57,520 --> 00:02:59,680
Speaker 2: stuff along those lines. We talk about buying and flipping

52
00:02:59,680 --> 00:03:02,480
Speaker 2: proper versus properties that you want to buy and keep

53
00:03:02,600 --> 00:03:05,680
Speaker 2: for the long term with your family, if you are

54
00:03:05,720 --> 00:03:09,120
Speaker 2: interested in purchasing a deer hunting property, if your own someday.

55
00:03:09,680 --> 00:03:13,880
Speaker 2: You really should give this one a listen that all said,

56
00:03:14,600 --> 00:03:17,040
Speaker 2: great episode. I'm excited for you us to hear this one.

57
00:03:17,040 --> 00:03:19,160
Speaker 2: I'm gonna leave you with one quick update, which is

58
00:03:19,200 --> 00:03:21,760
Speaker 2: that this coming Saturday. If you're listening to this when

59
00:03:21,760 --> 00:03:25,440
Speaker 2: it just came out, This Saturday, May eighteenth, twenty twenty four,

60
00:03:25,800 --> 00:03:29,120
Speaker 2: We've got our first Working for Wildlife tour event is

61
00:03:29,160 --> 00:03:32,560
Speaker 2: in Kentucky. It's kind of near London, Kentucky at the

62
00:03:32,639 --> 00:03:35,520
Speaker 2: Daniel Boone National Forest. If you want to sign up,

63
00:03:35,680 --> 00:03:41,480
Speaker 2: go to Dear Association dot com. Slash wf W that's

64
00:03:41,760 --> 00:03:48,480
Speaker 2: Dear Association dot com slash wfw that's the National Dear

65
00:03:48,520 --> 00:03:52,920
Speaker 2: Association's registration page for this event. This particular event is

66
00:03:52,960 --> 00:03:55,760
Speaker 2: in collaboration with them. We're gonna be working on some

67
00:03:55,880 --> 00:04:00,520
Speaker 2: white oak restoration, some hunter access improvements, different things to

68
00:04:00,560 --> 00:04:04,200
Speaker 2: help out public land and help out wildlife. If you

69
00:04:04,320 --> 00:04:06,160
Speaker 2: are in the area, I'd love to see you.

70
00:04:06,200 --> 00:04:06,800
Speaker 3: I'm gonna be there.

71
00:04:06,720 --> 00:04:08,320
Speaker 2: Were and be giving out some of these T shirts

72
00:04:08,360 --> 00:04:10,840
Speaker 2: that I'm wearing right now I work for Wildlife. There's

73
00:04:10,880 --> 00:04:13,880
Speaker 2: gonna be some NDA hats. I think NDA is doing

74
00:04:13,880 --> 00:04:17,320
Speaker 2: a drawing for Yetti cooler. There's gonna be food, and uh,

75
00:04:17,520 --> 00:04:20,400
Speaker 2: just a big old shindig afterwards as well. So it's

76
00:04:20,440 --> 00:04:23,799
Speaker 2: gonna be a great time. Can't wait. Gonna be seeing

77
00:04:23,839 --> 00:04:26,480
Speaker 2: all you guys shaking hands, taking pictures, having a grand

78
00:04:26,520 --> 00:04:30,760
Speaker 2: old time. A May eighteenth, please register, come on out Sunday,

79
00:04:31,279 --> 00:04:33,599
Speaker 2: and uh we'll have a good time. So for that

80
00:04:33,680 --> 00:04:36,359
Speaker 2: all said, let's get to my chat today with Jake

81
00:04:36,839 --> 00:04:45,080
Speaker 2: discussing how to buy a great deer hunting property. All

82
00:04:45,200 --> 00:04:48,680
Speaker 2: right with me on the line now is Jake Offer. Jake,

83
00:04:48,800 --> 00:04:49,839
Speaker 2: Welcome to the show.

84
00:04:50,560 --> 00:04:52,720
Speaker 3: Hey, thanks for having me Mark, I really appreciate it,

85
00:04:52,800 --> 00:04:55,839
Speaker 3: and UH I always excited to talk about land and

86
00:04:55,920 --> 00:04:58,920
Speaker 3: deer and been a long time listener to UH Wired

87
00:04:58,920 --> 00:05:01,320
Speaker 3: to Hunt. So pretty fun to be on here this morning,

88
00:05:01,600 --> 00:05:04,960
Speaker 3: longtime listener, first on caller exactly, Yeah, I can use

89
00:05:04,960 --> 00:05:07,120
Speaker 3: that phrase. Yeah.

90
00:05:06,600 --> 00:05:09,480
Speaker 2: I I realized when we were setting this up that

91
00:05:10,240 --> 00:05:12,840
Speaker 2: you know, I've been on your guys' show over at Exodus,

92
00:05:13,200 --> 00:05:15,520
Speaker 2: but had not had you on here. And that is

93
00:05:15,560 --> 00:05:18,240
Speaker 2: a big oversight on my part because I got to

94
00:05:18,279 --> 00:05:21,320
Speaker 2: say this publicly on my podcast. I think I said

95
00:05:21,320 --> 00:05:22,840
Speaker 2: this at one point when I was on your show,

96
00:05:22,880 --> 00:05:24,920
Speaker 2: but I want to say this to my listeners too.

97
00:05:25,800 --> 00:05:29,240
Speaker 2: I don't listen to many deer hunting podcasts, but one

98
00:05:29,240 --> 00:05:32,720
Speaker 2: that I do like, probably my favorite deer hunting podcast

99
00:05:33,640 --> 00:05:34,120
Speaker 2: is yours.

100
00:05:34,760 --> 00:05:36,240
Speaker 3: Man. I appreciate truly.

101
00:05:36,640 --> 00:05:39,600
Speaker 2: I really truly think that you do an excellent job.

102
00:05:40,960 --> 00:05:45,240
Speaker 2: You are the I think you're if. Yeah, I would

103
00:05:45,279 --> 00:05:47,880
Speaker 2: say you're the best deer hunting podcast host that I

104
00:05:48,000 --> 00:05:48,359
Speaker 2: listened to.

105
00:05:48,880 --> 00:05:50,800
Speaker 3: Man, that means a lot. I really appreciate it. Don't

106
00:05:50,800 --> 00:05:53,480
Speaker 3: go back and listen to any old episodes. I want

107
00:05:53,560 --> 00:05:55,680
Speaker 3: to check this out. It's like one of those things

108
00:05:55,680 --> 00:05:57,479
Speaker 3: you hopefully get a little better. And I mean, I

109
00:05:57,520 --> 00:06:00,560
Speaker 3: think we've had the ability to interview so many excellent

110
00:06:00,600 --> 00:06:03,520
Speaker 3: people and look at things from different angles. And there's

111
00:06:03,520 --> 00:06:06,040
Speaker 3: so many podcasts out there now, with so many different

112
00:06:06,240 --> 00:06:10,000
Speaker 3: subniches and cultures, and you know, it's easy to get

113
00:06:10,080 --> 00:06:11,919
Speaker 3: lost in the mix of all the different podcasts out there.

114
00:06:11,960 --> 00:06:13,520
Speaker 3: So you find one that you like and tune in

115
00:06:13,560 --> 00:06:15,960
Speaker 3: and pick up what you can. So I really appreciate that.

116
00:06:16,160 --> 00:06:19,400
Speaker 2: Yeah, yeah, well you're welcome. I think I think our

117
00:06:19,440 --> 00:06:21,560
Speaker 2: brains work the same way like I. When I have

118
00:06:21,720 --> 00:06:24,800
Speaker 2: listened to other shows, I sometimes get frustrated with other

119
00:06:24,839 --> 00:06:28,000
Speaker 2: people asking questions and just be like, you should ask this,

120
00:06:28,080 --> 00:06:30,080
Speaker 2: you should say this, why are you not doing this?

121
00:06:30,320 --> 00:06:33,440
Speaker 2: And with you you're always you're always doing exactly what

122
00:06:33,480 --> 00:06:37,000
Speaker 2: I would have wanted to do. So so maybe we're

123
00:06:37,040 --> 00:06:40,120
Speaker 2: just too alike. But maybe I don't know. But it

124
00:06:40,160 --> 00:06:42,080
Speaker 2: turns out well. I enjoy your guys. The stuff you

125
00:06:42,120 --> 00:06:44,240
Speaker 2: guys do a great job across across the board, everything

126
00:06:44,279 --> 00:06:47,800
Speaker 2: you're doing, Land Podcasts, Exodus, Trail, Came Radio, all the

127
00:06:47,839 --> 00:06:50,040
Speaker 2: gear you guys are making. I just want to start

128
00:06:50,080 --> 00:06:52,160
Speaker 2: it out by giving you guys all big kudos.

129
00:06:52,880 --> 00:06:54,320
Speaker 3: Yeah, really, I really appreciate that.

130
00:06:54,560 --> 00:06:57,520
Speaker 2: So that all said, though, rather than just fluffing you up,

131
00:06:57,560 --> 00:07:01,000
Speaker 2: the main point of our conversation here today is is land.

132
00:07:00,800 --> 00:07:04,440
Speaker 2: We did this kind of mini series about access that

133
00:07:04,480 --> 00:07:06,800
Speaker 2: I kicked off a month month and a half ago,

134
00:07:06,839 --> 00:07:10,960
Speaker 2: and we talked about leasing, and we talked about, you know,

135
00:07:11,200 --> 00:07:13,760
Speaker 2: still trying to find that free knock on door permission.

136
00:07:13,840 --> 00:07:16,000
Speaker 2: But you know, as I got thinking about it, it

137
00:07:16,120 --> 00:07:19,960
Speaker 2: seemed like an oversight to not at least spend one

138
00:07:20,120 --> 00:07:24,600
Speaker 2: good conversation here talking about that, you know, most in depth,

139
00:07:24,600 --> 00:07:28,040
Speaker 2: the biggest investment of an access type of project, which

140
00:07:28,080 --> 00:07:30,360
Speaker 2: is actually buying a piece of ground. And you know,

141
00:07:30,360 --> 00:07:32,400
Speaker 2: when I was thinking about I've talked to different real

142
00:07:32,520 --> 00:07:34,440
Speaker 2: estate agents over the years, and I know a lot

143
00:07:34,440 --> 00:07:37,080
Speaker 2: of folks from a lot of different good agencies out

144
00:07:37,080 --> 00:07:40,040
Speaker 2: there in groups, there's a lot of good options. But

145
00:07:40,200 --> 00:07:42,520
Speaker 2: you bring something unique to the table, and not that

146
00:07:43,320 --> 00:07:46,520
Speaker 2: you know, not only are you a license broker yourself

147
00:07:46,520 --> 00:07:49,400
Speaker 2: and you're helping folks do this, but you're also talking

148
00:07:49,440 --> 00:07:52,440
Speaker 2: to a million different people through your own podcast about

149
00:07:52,520 --> 00:07:55,840
Speaker 2: buying land. So you've got you know, firsthand experience, and

150
00:07:55,880 --> 00:07:58,240
Speaker 2: then you've also become a student of the game and

151
00:07:58,280 --> 00:08:02,040
Speaker 2: studying everybody else's so I think you can really give

152
00:08:02,160 --> 00:08:05,680
Speaker 2: us a unique viewpoint. And so where I kind of

153
00:08:05,680 --> 00:08:09,040
Speaker 2: want to start it off is, you know, with an

154
00:08:09,120 --> 00:08:11,520
Speaker 2: anecdote of sorts and that I've got a good friend

155
00:08:11,560 --> 00:08:14,600
Speaker 2: who is always talking about, you know, how he wants

156
00:08:14,640 --> 00:08:17,240
Speaker 2: to buy land. He's going to buy land someday. Every

157
00:08:17,320 --> 00:08:19,400
Speaker 2: year he's like, I'm buying land, I'm buying land. This

158
00:08:19,480 --> 00:08:20,880
Speaker 2: is the year, go to buy land. And then he

159
00:08:21,000 --> 00:08:24,920
Speaker 2: never does it. And it's always because ah, things aren't right,

160
00:08:25,040 --> 00:08:28,200
Speaker 2: or ah the Marcus crab, or everything's overpriced, or that

161
00:08:28,320 --> 00:08:32,520
Speaker 2: there's always something. And so the thing I'm curious about

162
00:08:32,559 --> 00:08:37,920
Speaker 2: first is when is the right time? How do you

163
00:08:38,000 --> 00:08:41,480
Speaker 2: know when you should actually jump off this cliff versus

164
00:08:41,840 --> 00:08:43,680
Speaker 2: you know, holding your cars back? Because I think a

165
00:08:43,679 --> 00:08:45,400
Speaker 2: lot of people for years and years and years have

166
00:08:45,440 --> 00:08:48,680
Speaker 2: had the same question, maybe especially so right now. So

167
00:08:48,720 --> 00:08:50,000
Speaker 2: what's your takeout the gate on that?

168
00:08:50,679 --> 00:08:53,319
Speaker 3: Yeah, I mean I think that's probably the most common

169
00:08:53,480 --> 00:08:57,440
Speaker 3: inner dialogue and actual dialogue when it comes to talking

170
00:08:57,720 --> 00:08:59,800
Speaker 3: with about land with someone that hasn't bought one. It's over,

171
00:09:00,240 --> 00:09:04,040
Speaker 3: it's crazy, market's going to crash. You know, this piece

172
00:09:04,080 --> 00:09:06,280
Speaker 3: isn't a ten out of ten, and it cost, however

173
00:09:06,320 --> 00:09:08,040
Speaker 3: much money, I'm not going to waste my money on that.

174
00:09:08,080 --> 00:09:10,839
Speaker 3: And I'll tell you this. So I bought my first

175
00:09:10,880 --> 00:09:13,160
Speaker 3: farm when I was twenty six. I saved literally every

176
00:09:13,160 --> 00:09:16,559
Speaker 3: single dollar I could live, well blow my means, and

177
00:09:16,679 --> 00:09:19,200
Speaker 3: even as soon as I got my down payment, I

178
00:09:19,240 --> 00:09:22,920
Speaker 3: bought a farm. And all those emotions were the same

179
00:09:23,000 --> 00:09:25,840
Speaker 3: exact things that were going through my mind when I

180
00:09:26,000 --> 00:09:28,160
Speaker 3: was buying it. And I had helped other people purchase farms,

181
00:09:28,600 --> 00:09:32,120
Speaker 3: and I kind of coach myself, like, because this is

182
00:09:32,160 --> 00:09:33,480
Speaker 3: in the back of mind, Well, what if a better

183
00:09:33,520 --> 00:09:35,760
Speaker 3: deal comes up? What if this other farm that is

184
00:09:35,800 --> 00:09:37,559
Speaker 3: probably never going to sell, but what if it does

185
00:09:37,640 --> 00:09:40,080
Speaker 3: sell after I just deployed all my capital. Yeah, And

186
00:09:40,120 --> 00:09:43,520
Speaker 3: so all those things went through my head and I

187
00:09:43,559 --> 00:09:47,040
Speaker 3: bought it, and I've been super happy, and it's been

188
00:09:47,240 --> 00:09:50,040
Speaker 3: it's been super rewarding. The market is appreciated since I

189
00:09:50,120 --> 00:09:54,600
Speaker 3: purchased that. And even then, you know, land is very localized, right,

190
00:09:54,679 --> 00:09:57,400
Speaker 3: and so you can go to the coffee shop, someone

191
00:09:57,400 --> 00:09:59,640
Speaker 3: buys a piece of ground, there's chatter, oh my gosh,

192
00:09:59,720 --> 00:10:01,480
Speaker 3: that guy crazy. Did you hear what he paid for

193
00:10:01,520 --> 00:10:04,160
Speaker 3: this farm? And then you just jump forward about five

194
00:10:04,240 --> 00:10:06,199
Speaker 3: years in the future, which I can do now, and

195
00:10:06,200 --> 00:10:07,920
Speaker 3: they're like, did you know he bought that for this

196
00:10:08,320 --> 00:10:11,000
Speaker 3: right man? What a steal man? Why not buy that?

197
00:10:11,120 --> 00:10:13,360
Speaker 3: And so that is this a common theme over time.

198
00:10:13,400 --> 00:10:15,760
Speaker 3: So I think I think that those emotions in that

199
00:10:15,760 --> 00:10:18,240
Speaker 3: thought processes for everyone. But I can tell you this

200
00:10:18,360 --> 00:10:22,760
Speaker 3: the people I talked to and personal experience and talking

201
00:10:22,760 --> 00:10:25,280
Speaker 3: to people that have been owning that's owned farms for decades,

202
00:10:25,880 --> 00:10:29,200
Speaker 3: and it's the same. I bought a farm. It wasn't perfect,

203
00:10:29,800 --> 00:10:31,360
Speaker 3: but I got into it. I made it a little

204
00:10:31,360 --> 00:10:32,840
Speaker 3: bit better, and then I decided I want to get

205
00:10:32,880 --> 00:10:34,720
Speaker 3: closer to home, or I wanted something a little bit bigger.

206
00:10:35,080 --> 00:10:39,120
Speaker 3: And it's the same exact person that would maybe not exact,

207
00:10:39,120 --> 00:10:40,679
Speaker 3: but there's a lot of parallels to someone that says

208
00:10:41,120 --> 00:10:42,760
Speaker 3: I'm not going to buy a house. I'm just gonna rent.

209
00:10:43,480 --> 00:10:46,199
Speaker 3: Everything's overpriced, I don't want to live there. And then

210
00:10:46,280 --> 00:10:48,360
Speaker 3: versus the guy that saves up buys a two bedroom,

211
00:10:48,360 --> 00:10:50,960
Speaker 3: one bath house, puts a new roof on it, puts

212
00:10:51,000 --> 00:10:53,600
Speaker 3: new siding, updates the kitchen, and they're like, you know,

213
00:10:53,640 --> 00:10:56,240
Speaker 3: our family's expanding, let's get a little bigger house, they

214
00:10:56,280 --> 00:10:58,160
Speaker 3: sell that house and they go buy a little bigger house,

215
00:10:58,360 --> 00:11:00,599
Speaker 3: and it's you know, fits their goal is better. And

216
00:11:00,640 --> 00:11:03,960
Speaker 3: I think that same parallel can follow along when it

217
00:11:04,000 --> 00:11:06,080
Speaker 3: comes to land ownership. It's not a direct parallel, but

218
00:11:06,160 --> 00:11:08,200
Speaker 3: a lot of the same thought process and everything else.

219
00:11:08,240 --> 00:11:10,040
Speaker 3: Because even when you're house shopping right like, well, what

220
00:11:10,120 --> 00:11:12,560
Speaker 3: if that house on the corner of so and so

221
00:11:12,679 --> 00:11:15,200
Speaker 3: Street I heard they might sell and then they never do.

222
00:11:15,400 --> 00:11:17,560
Speaker 3: Like so it's you know, not to ramble too long there,

223
00:11:17,600 --> 00:11:22,080
Speaker 3: but it's it's a natural consumer and consumer behavior and

224
00:11:22,120 --> 00:11:24,400
Speaker 3: also this human behavior that something better is going to

225
00:11:24,440 --> 00:11:26,880
Speaker 3: come along when reality work with what's in front of you.

226
00:11:27,320 --> 00:11:30,320
Speaker 3: And you know, if someone has the down payment state up,

227
00:11:30,320 --> 00:11:32,560
Speaker 3: they've done all the due diligence, they've looked at farms,

228
00:11:32,920 --> 00:11:35,760
Speaker 3: and they find one that checks off enough boxes that

229
00:11:35,840 --> 00:11:39,520
Speaker 3: makes you happy, buy the farm. Buy it. Because I'll

230
00:11:39,520 --> 00:11:41,360
Speaker 3: tell you this too. It's like when you buy your

231
00:11:41,360 --> 00:11:44,920
Speaker 3: first farm, you learn, oh, I would never buy a

232
00:11:44,960 --> 00:11:47,040
Speaker 3: farm that has this type of access or this type

233
00:11:47,040 --> 00:11:50,800
Speaker 3: of neighbors. And if you wait forever and you you know, hypothetically,

234
00:11:51,120 --> 00:11:52,520
Speaker 3: if you are just spune enough to be able to

235
00:11:52,520 --> 00:11:54,080
Speaker 3: save up to buy that really big piece that you've

236
00:11:54,120 --> 00:11:56,920
Speaker 3: always dreamed of. You might make a giant mistake because

237
00:11:56,920 --> 00:12:00,200
Speaker 3: you didn't go through the proper channel of try on

238
00:12:00,280 --> 00:12:03,440
Speaker 3: air throughout that process. So those are just some initial

239
00:12:03,440 --> 00:12:04,160
Speaker 3: thoughts regarding that.

240
00:12:04,600 --> 00:12:07,080
Speaker 2: Yeah, I want to dive a little bit more into

241
00:12:07,720 --> 00:12:10,520
Speaker 2: some of the things you kind of alluded to there

242
00:12:10,559 --> 00:12:12,920
Speaker 2: a little bit kind of around like personal finance and

243
00:12:12,920 --> 00:12:15,240
Speaker 2: in that kind of situation. But before that, maybe even

244
00:12:15,360 --> 00:12:18,880
Speaker 2: a little bit further up the funnel, is a question

245
00:12:18,960 --> 00:12:22,680
Speaker 2: of just like who is the right kind of person?

246
00:12:23,400 --> 00:12:25,360
Speaker 2: Like who is buying a farm right for?

247
00:12:25,880 --> 00:12:26,000
Speaker 3: Right?

248
00:12:26,000 --> 00:12:29,080
Speaker 2: I mean, there might be some people who, like everyone

249
00:12:29,280 --> 00:12:31,600
Speaker 2: dreams of buying a farm like that, that's a dream

250
00:12:31,640 --> 00:12:34,439
Speaker 2: for everyone, I think, But maybe there's some folks that, hey,

251
00:12:34,440 --> 00:12:38,360
Speaker 2: it's it's not the right thing. Maybe there's some folks that, yeah,

252
00:12:38,400 --> 00:12:42,240
Speaker 2: like this is who is I know this is incredibly

253
00:12:42,480 --> 00:12:46,440
Speaker 2: vague and incredibly general, but who is buying a farm

254
00:12:46,520 --> 00:12:46,920
Speaker 2: right for?

255
00:12:48,320 --> 00:12:52,800
Speaker 3: Yeah, that's that's a that's a personal, inward looking question

256
00:12:52,880 --> 00:12:56,319
Speaker 3: I think. I mean, in my mind, I would fall

257
00:12:56,400 --> 00:12:59,680
Speaker 3: under the I grew up hunting permission farms with fifteen

258
00:12:59,679 --> 00:13:02,199
Speaker 3: different people on it, and it was a big track

259
00:13:02,280 --> 00:13:04,280
Speaker 3: and as a kid, you always think, gosh, if I

260
00:13:04,320 --> 00:13:05,840
Speaker 3: could have own if I could own this, or if

261
00:13:05,840 --> 00:13:07,280
Speaker 3: I could do that, or if I could just have

262
00:13:07,360 --> 00:13:09,480
Speaker 3: my own piece. And so I think for a lot

263
00:13:09,480 --> 00:13:12,280
Speaker 3: of people, and this is maybe in a parallel as

264
00:13:12,320 --> 00:13:15,080
Speaker 3: well as like for someone like Michigan, right like you,

265
00:13:15,080 --> 00:13:17,800
Speaker 3: you probably jones to go hunt the Midwest, right mm hm.

266
00:13:18,160 --> 00:13:21,440
Speaker 3: But for someone that grew up in the Midwest, like myself,

267
00:13:22,280 --> 00:13:24,640
Speaker 3: you are already in a great location. You dream of

268
00:13:24,679 --> 00:13:27,040
Speaker 3: owning land. So it's like there's so like for you,

269
00:13:27,120 --> 00:13:30,760
Speaker 3: it would be leave Michigan, go to Iowa, and then

270
00:13:30,840 --> 00:13:32,360
Speaker 3: once you're in Iowa, I want to buy a piece

271
00:13:32,400 --> 00:13:34,520
Speaker 3: of ground because I want to have control over it.

272
00:13:34,559 --> 00:13:36,520
Speaker 3: I want to grow giant deer and have the best

273
00:13:36,559 --> 00:13:38,280
Speaker 3: parcel on the face of the earth, which isn't always

274
00:13:38,280 --> 00:13:40,400
Speaker 3: the reality of it. So I think, really what it

275
00:13:40,440 --> 00:13:42,800
Speaker 3: is is someone that when I think is someone that

276
00:13:42,840 --> 00:13:45,320
Speaker 3: wants to buy land, I think usually it is more

277
00:13:45,320 --> 00:13:47,079
Speaker 3: than just killing a deer too, because you can go

278
00:13:47,160 --> 00:13:48,840
Speaker 3: kill a deer in a lot of different locations. It's

279
00:13:48,840 --> 00:13:51,080
Speaker 3: for someone that wants to spend their weekends working on

280
00:13:51,120 --> 00:13:53,280
Speaker 3: their farm. It's someone that wants to continue to self

281
00:13:53,360 --> 00:13:56,120
Speaker 3: educate and learn how to make the habitat the best

282
00:13:56,120 --> 00:13:58,320
Speaker 3: that it is for beyond white tail, and it just

283
00:13:58,360 --> 00:14:01,599
Speaker 3: opens up Pandora's box of so many different things that

284
00:14:01,640 --> 00:14:03,640
Speaker 3: you can never imagine if you just leased or if

285
00:14:03,640 --> 00:14:06,120
Speaker 3: you just hunted public land. And that's just that's my opinion,

286
00:14:06,120 --> 00:14:08,120
Speaker 3: because that's that's what's happened to me, because you're just like, well,

287
00:14:08,120 --> 00:14:09,560
Speaker 3: how do how do you do this? How do you

288
00:14:09,600 --> 00:14:11,280
Speaker 3: do that? And then you just get to learn so

289
00:14:11,360 --> 00:14:13,640
Speaker 3: much more, which makes it so much more fun, and

290
00:14:13,679 --> 00:14:15,520
Speaker 3: then you can try different things. And so I think

291
00:14:15,559 --> 00:14:18,160
Speaker 3: it's for someone that wants a little piece of their

292
00:14:18,200 --> 00:14:20,560
Speaker 3: own American dream, because I think if we look back

293
00:14:20,600 --> 00:14:25,360
Speaker 3: at in the age of America, the eighteen sixty law

294
00:14:25,360 --> 00:14:28,080
Speaker 3: where you go get your forty acres and establish and

295
00:14:28,120 --> 00:14:30,240
Speaker 3: have your own little piece of heaven and on your ground,

296
00:14:30,720 --> 00:14:34,200
Speaker 3: yeah yeah and literally yeah, so things about that show

297
00:14:34,280 --> 00:14:36,200
Speaker 3: up and they give it to you. Yeah, And so

298
00:14:36,240 --> 00:14:39,600
Speaker 3: that's not the case anymore unfortunately. Yeah, but it's it's

299
00:14:39,640 --> 00:14:41,320
Speaker 3: I feel like it's rooted in our DNA as like

300
00:14:41,360 --> 00:14:43,640
Speaker 3: American heritage of you want to on a piece of

301
00:14:43,640 --> 00:14:45,840
Speaker 3: ground because you want something to call your own, to

302
00:14:46,040 --> 00:14:49,200
Speaker 3: spend time with family, get enjoyment and hopefully, you know,

303
00:14:49,240 --> 00:14:52,880
Speaker 3: spend some time in a tree sand in November. Yeah.

304
00:14:53,120 --> 00:14:56,560
Speaker 2: So then next, I think the natural question is, Okay,

305
00:14:57,000 --> 00:14:59,560
Speaker 2: if I'm a person who checks all those boxes, I

306
00:14:59,600 --> 00:15:02,960
Speaker 2: want these things. The next thing, and this is a

307
00:15:03,880 --> 00:15:07,560
Speaker 2: I had this same thought process myself was Okay, I

308
00:15:07,640 --> 00:15:10,760
Speaker 2: want this thing, but when am I ready to do it?

309
00:15:11,240 --> 00:15:13,800
Speaker 2: You know, there's a lot of questions around personal finance

310
00:15:13,840 --> 00:15:16,560
Speaker 2: and when do you know that you can actually afford

311
00:15:16,560 --> 00:15:18,880
Speaker 2: this kind of thing. I'm the type who came from

312
00:15:18,920 --> 00:15:25,400
Speaker 2: a very financially conservative family, so the idea of cashing

313
00:15:25,440 --> 00:15:28,120
Speaker 2: out my life savings to buy a farm or something

314
00:15:28,240 --> 00:15:31,000
Speaker 2: terrifies me. Kind of feels like I need to be

315
00:15:31,040 --> 00:15:33,040
Speaker 2: a millionaire before I can afford to buy a twenty

316
00:15:33,080 --> 00:15:38,240
Speaker 2: acre farm to feel comfortable. Yeah, how do you advise

317
00:15:38,320 --> 00:15:40,960
Speaker 2: someone think about this? How do you advise somebody look

318
00:15:41,000 --> 00:15:44,160
Speaker 2: at their own personal finances to determine Okay, yes, I

319
00:15:44,240 --> 00:15:48,800
Speaker 2: can carve out this to buy a starter farm or something.

320
00:15:48,880 --> 00:15:49,800
Speaker 2: How would you think through that?

321
00:15:50,400 --> 00:15:52,360
Speaker 3: I think one good exercise and this is actually from

322
00:15:52,400 --> 00:15:54,800
Speaker 3: a guest who has an accounting background, worked at the

323
00:15:54,840 --> 00:15:58,840
Speaker 3: Big four, also a very financially conservative guy. Have become

324
00:15:58,960 --> 00:16:02,440
Speaker 3: good friends with him, and what his exercise was could

325
00:16:02,440 --> 00:16:05,960
Speaker 3: definitely afford it. But he basically practiced what his monthly

326
00:16:05,960 --> 00:16:08,200
Speaker 3: payment would be. So he was saving up his down

327
00:16:08,200 --> 00:16:10,920
Speaker 3: payment and okay, I think I'm fifteen hundred dollars, let's

328
00:16:10,920 --> 00:16:12,840
Speaker 3: say is my budget per month for a farm. And

329
00:16:12,880 --> 00:16:15,080
Speaker 3: so he would continue to save fifteen hundred dollars and

330
00:16:15,400 --> 00:16:18,160
Speaker 3: make sure that you know everything the wife and kids

331
00:16:18,160 --> 00:16:20,000
Speaker 3: and house and everything's still taken care of, and kind

332
00:16:20,000 --> 00:16:21,760
Speaker 3: of go through a practice run. And when you realize

333
00:16:21,800 --> 00:16:23,760
Speaker 3: that there's no pain in that and you can easily

334
00:16:23,800 --> 00:16:25,840
Speaker 3: do it, you have the margin in your life. I

335
00:16:25,840 --> 00:16:27,560
Speaker 3: think that's a great way to do a dry run.

336
00:16:27,600 --> 00:16:30,320
Speaker 3: It really is, if you're just practicing that payment and

337
00:16:30,920 --> 00:16:34,360
Speaker 3: the beautiful thing. Hopefully in your careers, your income is

338
00:16:34,400 --> 00:16:37,520
Speaker 3: going to accelerate, the land is going to appreciate. Obviously,

339
00:16:37,560 --> 00:16:40,400
Speaker 3: you don't want to count on appreciation, but historically, over

340
00:16:40,440 --> 00:16:42,480
Speaker 3: a long period of time, you can count on appreciation.

341
00:16:42,600 --> 00:16:46,600
Speaker 3: You can count on forced appreciation. And then I remember

342
00:16:47,400 --> 00:16:49,560
Speaker 3: sold the farm and it was the guy that started

343
00:16:49,600 --> 00:16:51,160
Speaker 3: with nothing owns a lot of ground in the area,

344
00:16:51,680 --> 00:16:54,520
Speaker 3: and I was like, how'd you do it? And he's like, well,

345
00:16:54,520 --> 00:16:56,440
Speaker 3: I just invest in land because I can control it.

346
00:16:56,480 --> 00:16:58,560
Speaker 3: I can prove the soil, I can control my crops,

347
00:16:58,880 --> 00:17:00,920
Speaker 3: you know, to the best of his ability. And he's like,

348
00:17:00,960 --> 00:17:03,120
Speaker 3: I was like, do you have any other form of retirement?

349
00:17:03,160 --> 00:17:05,320
Speaker 3: He's like no, And so like there's all ends of

350
00:17:05,320 --> 00:17:07,359
Speaker 3: the extremes that I've dealt with of like one hundred

351
00:17:07,400 --> 00:17:09,439
Speaker 3: percent all in in land, right. And then you have

352
00:17:09,520 --> 00:17:11,920
Speaker 3: some people who are really successful and it's like they

353
00:17:12,000 --> 00:17:14,359
Speaker 3: kind of feel like they're cheating on the retirement to

354
00:17:14,400 --> 00:17:16,200
Speaker 3: buy a farm because they're like, well, it's not going

355
00:17:16,240 --> 00:17:18,280
Speaker 3: into my four one k and it's going to that.

356
00:17:18,320 --> 00:17:20,639
Speaker 3: And so I think it comes down to the personal

357
00:17:20,720 --> 00:17:24,720
Speaker 3: appetite and personal risk tolerance is what it really comes

358
00:17:24,760 --> 00:17:26,600
Speaker 3: down to. But I think the most practical advice is

359
00:17:27,280 --> 00:17:29,360
Speaker 3: save up your down payment, maybe figure out whatever your

360
00:17:29,560 --> 00:17:33,800
Speaker 3: future payment will be in this practice, and then say like, oh, man,

361
00:17:33,920 --> 00:17:35,959
Speaker 3: fifteen hundred might be a little bit too much because

362
00:17:36,000 --> 00:17:38,840
Speaker 3: the kids are in travel, baseball and blah blah blah,

363
00:17:38,880 --> 00:17:40,439
Speaker 3: I can only do a thousand. Well, now you know,

364
00:17:40,520 --> 00:17:42,679
Speaker 3: and it's not like you make this huge commitment and

365
00:17:42,720 --> 00:17:44,000
Speaker 3: now you have to figure out a different way to

366
00:17:44,000 --> 00:17:46,600
Speaker 3: come up with that deficit. So I think that's probably

367
00:17:46,600 --> 00:17:49,399
Speaker 3: one of the most practical ways, or just this is

368
00:17:49,440 --> 00:17:52,040
Speaker 3: the most simple thing. Do a monthly budget and see

369
00:17:52,080 --> 00:17:54,960
Speaker 3: how much money you have and that's not accounted for

370
00:17:55,400 --> 00:17:57,760
Speaker 3: is another really easy way. But you know, I just

371
00:17:57,760 --> 00:17:59,399
Speaker 3: think there's so much emotion to it, and it's so

372
00:18:00,600 --> 00:18:02,679
Speaker 3: different to what a lot of people think is a

373
00:18:02,720 --> 00:18:05,280
Speaker 3: good investment. Because you talk to ten different people that

374
00:18:05,320 --> 00:18:07,800
Speaker 3: have no clue about land and they think you're crazy.

375
00:18:08,520 --> 00:18:10,320
Speaker 3: All you can do is deer hunt on it. Why

376
00:18:10,320 --> 00:18:13,840
Speaker 3: would you buy that, what's the income? All these different things,

377
00:18:13,920 --> 00:18:16,399
Speaker 3: and then whether it's good or bad. I've talked to

378
00:18:16,440 --> 00:18:18,679
Speaker 3: so many people that have found so much success in

379
00:18:18,720 --> 00:18:22,720
Speaker 3: this space that you'd become like, you see, there's another

380
00:18:22,760 --> 00:18:26,320
Speaker 3: way to do this, and it can be a viable investment.

381
00:18:26,359 --> 00:18:29,400
Speaker 3: It can be a great way to even build some wealth.

382
00:18:29,440 --> 00:18:31,480
Speaker 3: In reality, like, there's just so many different ways to

383
00:18:31,480 --> 00:18:34,040
Speaker 3: do it. It's and that's the beauty of it. It's

384
00:18:34,040 --> 00:18:35,119
Speaker 3: like there's so many different ways to do it. You

385
00:18:35,160 --> 00:18:36,840
Speaker 3: can buy your forty and be happy with it and

386
00:18:36,880 --> 00:18:39,200
Speaker 3: own it for fifty years and give it to your kids,

387
00:18:39,440 --> 00:18:41,600
Speaker 3: or you can continue to snowball and build up to

388
00:18:42,200 --> 00:18:44,600
Speaker 3: something like Bill Winki, for example, like a really good

389
00:18:44,600 --> 00:18:46,159
Speaker 3: example of that that a lot of people would be

390
00:18:46,160 --> 00:18:48,520
Speaker 3: aware of. Yeah, so.

391
00:18:50,640 --> 00:18:53,640
Speaker 2: Is there any kind of data out there as far

392
00:18:53,680 --> 00:18:57,200
Speaker 2: as averages either by state or region or anything as

393
00:18:57,240 --> 00:19:00,000
Speaker 2: far as like how the market has appreciated over time?

394
00:19:00,240 --> 00:19:03,359
Speaker 2: Like what an what kind of expectations could I have

395
00:19:03,440 --> 00:19:05,800
Speaker 2: if I were to invest in the land. You know,

396
00:19:06,000 --> 00:19:08,560
Speaker 2: I know it fluctuates, I know it can change, but

397
00:19:08,760 --> 00:19:11,520
Speaker 2: like a ten year average is is it like an average? Okay,

398
00:19:11,520 --> 00:19:15,080
Speaker 2: it's usually appreciating five percent, ten percent, twelve. I'm thinking

399
00:19:15,080 --> 00:19:17,800
Speaker 2: like if someone's thinking about, okay, how would I compare

400
00:19:17,840 --> 00:19:20,439
Speaker 2: and contrast an investment in land versus an investment in

401
00:19:20,480 --> 00:19:22,800
Speaker 2: the market where you can expect four or five six

402
00:19:22,880 --> 00:19:27,960
Speaker 2: percent whatever it is annually? How might land be the

403
00:19:27,960 --> 00:19:28,679
Speaker 2: same or different?

404
00:19:29,280 --> 00:19:33,240
Speaker 3: Yeah, so farmland traditional farmland, you can see anywhere between

405
00:19:33,240 --> 00:19:36,159
Speaker 3: an appreciation historically of ten to thirteen percent. And so

406
00:19:36,600 --> 00:19:39,719
Speaker 3: that's a headline. So does that include the commodity of

407
00:19:39,800 --> 00:19:43,560
Speaker 3: cash rent or growing those crops? But regardless, as an average,

408
00:19:43,560 --> 00:19:45,959
Speaker 3: as a rule of thumb, five to seven percent of

409
00:19:46,119 --> 00:19:48,639
Speaker 3: annual appreciation is what we can what we can expect.

410
00:19:48,640 --> 00:19:51,600
Speaker 3: Now we are leaving in my opinion, we are leaving

411
00:19:51,960 --> 00:19:56,199
Speaker 3: a historical, historical run of land values. During you know,

412
00:19:56,320 --> 00:20:01,159
Speaker 3: the pandemic era, land appreciated so insane quick across the

413
00:20:01,280 --> 00:20:03,520
Speaker 3: entire country, all forms of real estate, right. And I

414
00:20:03,520 --> 00:20:06,160
Speaker 3: remember talking to some really sharp people and they're like, well,

415
00:20:06,320 --> 00:20:08,960
Speaker 3: inflation's out of control, and the best hedge against inflation

416
00:20:09,080 --> 00:20:11,119
Speaker 3: is land. So there was a lot of people with

417
00:20:11,160 --> 00:20:13,359
Speaker 3: a lot of money that were really smart, and a

418
00:20:13,359 --> 00:20:15,119
Speaker 3: lot of investment firms that went and bought a lot

419
00:20:15,119 --> 00:20:18,080
Speaker 3: of farm ground. And when there's limited supply and a

420
00:20:18,080 --> 00:20:20,159
Speaker 3: lot of demand, you can imagine what happens. And when

421
00:20:20,160 --> 00:20:23,360
Speaker 3: commodity prices were really high. So like in my opinion,

422
00:20:23,400 --> 00:20:26,880
Speaker 3: we saw a really strong, extremely strong run of land

423
00:20:26,880 --> 00:20:29,520
Speaker 3: prices across the board. And I think we're getting back

424
00:20:29,560 --> 00:20:32,600
Speaker 3: to reality to where maybe we can expect a flat

425
00:20:32,640 --> 00:20:34,760
Speaker 3: here or two. But if you had a ten year

426
00:20:34,800 --> 00:20:37,639
Speaker 3: period anywhere between five and seven percent, I think is

427
00:20:37,680 --> 00:20:40,760
Speaker 3: a fair rule of thumb. Now, another thing that I

428
00:20:40,760 --> 00:20:44,760
Speaker 3: personally love about land is the stock market is an

429
00:20:44,760 --> 00:20:48,280
Speaker 3: extremely extremely efficient market. You have algorithms, you have the

430
00:20:48,280 --> 00:20:51,000
Speaker 3: smartest people on the face of the earth on Wall Street.

431
00:20:51,040 --> 00:20:52,800
Speaker 3: You have so many things that are out of you

432
00:20:52,880 --> 00:20:56,239
Speaker 3: and i's control were lying on other people. Then you

433
00:20:56,280 --> 00:21:00,679
Speaker 3: have rural land, which has become way more efficient than

434
00:21:00,720 --> 00:21:03,639
Speaker 3: someone like a Dan Perez in the nineties, like you know,

435
00:21:03,680 --> 00:21:05,840
Speaker 3: like it has become more efficient, but it is not

436
00:21:05,920 --> 00:21:09,080
Speaker 3: nearly as efficient as the stock market. When there's inefficiencies

437
00:21:09,119 --> 00:21:11,800
Speaker 3: in a market, you can hedge to get more equity

438
00:21:11,800 --> 00:21:14,000
Speaker 3: out of something. So I think that's something to really

439
00:21:14,000 --> 00:21:19,280
Speaker 3: look at, is it's still historically an inefficient market to

440
00:21:19,400 --> 00:21:21,720
Speaker 3: get the whatever the max price is for a lot

441
00:21:21,720 --> 00:21:24,800
Speaker 3: of different parcels across the country. So hypothetically, if you

442
00:21:24,840 --> 00:21:26,880
Speaker 3: do your homework, you do your due diligence, you find

443
00:21:26,880 --> 00:21:29,080
Speaker 3: someone that is really familiar with an area and say, hey,

444
00:21:29,080 --> 00:21:32,280
Speaker 3: this one is five percent below market, ten percent below market,

445
00:21:32,600 --> 00:21:34,560
Speaker 3: but you can catch that up really fast. And then

446
00:21:35,040 --> 00:21:37,760
Speaker 3: unlike the video, and you don't know if there's going

447
00:21:37,840 --> 00:21:40,960
Speaker 3: to be a war in Taiwan, like that's out of

448
00:21:41,000 --> 00:21:43,000
Speaker 3: all of our control. But you can put up a gate,

449
00:21:43,359 --> 00:21:45,560
Speaker 3: you can improve a property, you can improve the access,

450
00:21:46,200 --> 00:21:47,600
Speaker 3: you can do all these different things. And to me,

451
00:21:47,640 --> 00:21:49,080
Speaker 3: that's what I find a lot of freedom in is

452
00:21:49,119 --> 00:21:51,600
Speaker 3: like you have control over your own destiny, and if

453
00:21:51,640 --> 00:21:54,080
Speaker 3: you're confident with your own decision making. Then for those

454
00:21:54,080 --> 00:21:55,600
Speaker 3: bad do you have no one else to play but yourself,

455
00:21:55,720 --> 00:21:57,320
Speaker 3: unlike a stock market.

456
00:21:57,440 --> 00:22:07,960
Speaker 4: Yeah, that's that's a really good point.

457
00:22:09,800 --> 00:22:13,080
Speaker 2: So you bring up some things related to this historic run.

458
00:22:13,160 --> 00:22:13,720
Speaker 3: We've been on.

459
00:22:15,280 --> 00:22:18,720
Speaker 2: What's your read on the market today and looking forward

460
00:22:18,800 --> 00:22:21,359
Speaker 2: the next I don't know, three months, six months, twelve months.

461
00:22:21,480 --> 00:22:24,520
Speaker 2: If someone's listening to this and thinking about buying, you know,

462
00:22:24,520 --> 00:22:26,840
Speaker 2: I'll go back to to like my friend. My friend

463
00:22:26,880 --> 00:22:29,119
Speaker 2: has been talking about how the market's crazy, the interest

464
00:22:29,200 --> 00:22:32,560
Speaker 2: rates are crazy, how could anyone buy land right now?

465
00:22:33,720 --> 00:22:36,280
Speaker 2: But then I always worry. My other friends were like, man,

466
00:22:36,480 --> 00:22:38,399
Speaker 2: the best time to buy land is always yesterday, right.

467
00:22:38,400 --> 00:22:40,520
Speaker 2: Everyone always says you should have bought it last year,

468
00:22:40,560 --> 00:22:42,080
Speaker 2: You should have bought it yesterday. Like, if you keep

469
00:22:42,119 --> 00:22:44,239
Speaker 2: on pushing it out into the future, you'll never do it.

470
00:22:45,400 --> 00:22:48,119
Speaker 2: So what's your take on the situation right now in

471
00:22:48,400 --> 00:22:49,560
Speaker 2: the foreseeable future.

472
00:22:50,160 --> 00:22:52,199
Speaker 3: Yeah, I think a lot of people in when this

473
00:22:52,359 --> 00:22:54,119
Speaker 3: crazy run was happening, a lot of people made a

474
00:22:54,119 --> 00:22:56,000
Speaker 3: lot of money. There's no secret to that. I mean

475
00:22:56,000 --> 00:22:57,879
Speaker 3: we can look on social and see a lot of

476
00:22:57,880 --> 00:23:00,080
Speaker 3: people that made a lot of money throughout this run.

477
00:23:00,200 --> 00:23:02,840
Speaker 3: And I feel like there were speculators rather than investors,

478
00:23:02,840 --> 00:23:05,320
Speaker 3: and it was very easy at that time because money

479
00:23:05,359 --> 00:23:07,560
Speaker 3: was cheap. Land prices went up. And so for your

480
00:23:07,560 --> 00:23:09,240
Speaker 3: friend that said for the last five years he was

481
00:23:09,280 --> 00:23:11,200
Speaker 3: going to buy a farm, he's going to buy a farm,

482
00:23:11,240 --> 00:23:13,440
Speaker 3: and he knows he wants to keep it for five years,

483
00:23:13,520 --> 00:23:16,040
Speaker 3: six years, buy the farm if he buys it, and

484
00:23:16,040 --> 00:23:17,439
Speaker 3: he's like, I think I'm going to turn this thing

485
00:23:17,480 --> 00:23:18,919
Speaker 3: around and I'm going to do this, this, this, and

486
00:23:18,920 --> 00:23:21,399
Speaker 3: I'm going to sell it tomorrow. Don't do that. I

487
00:23:21,440 --> 00:23:25,480
Speaker 3: don't think that's a great idea. And so that's kind

488
00:23:25,520 --> 00:23:28,159
Speaker 3: of my general rule is a lot of people I

489
00:23:28,240 --> 00:23:30,720
Speaker 3: asked them, how long do you think you'll have that piece?

490
00:23:31,320 --> 00:23:32,760
Speaker 3: And if they say, I don't know, maybe hunt for

491
00:23:32,800 --> 00:23:34,800
Speaker 3: a year and then sell it after that. I don't

492
00:23:34,840 --> 00:23:37,200
Speaker 3: have the utmost conviction that's a great plan right now.

493
00:23:37,480 --> 00:23:39,200
Speaker 2: Just because of the situation right now.

494
00:23:39,560 --> 00:23:43,880
Speaker 3: Yeah, so yeah, the interest rates. So let's say someone

495
00:23:43,920 --> 00:23:46,439
Speaker 3: thinks that they someone like, I'm going to make three

496
00:23:46,480 --> 00:23:47,840
Speaker 3: hundred dollars an acre on that farm. I'm going to

497
00:23:47,880 --> 00:23:49,320
Speaker 3: do this, this, this, and sell for three hundred dollars

498
00:23:49,320 --> 00:23:51,640
Speaker 3: an acre more than what I bought it for. If

499
00:23:51,640 --> 00:23:55,479
Speaker 3: you're borrowing money, you're probably not going to make hardly

500
00:23:55,480 --> 00:24:00,000
Speaker 3: any money period because of eight percent interests or primes

501
00:24:00,080 --> 00:24:03,320
Speaker 3: eight and a half percent. And so to relay that,

502
00:24:03,359 --> 00:24:05,399
Speaker 3: back when it was three and a half four percent,

503
00:24:05,720 --> 00:24:07,639
Speaker 3: you could buy twice the size of the farm. So

504
00:24:07,680 --> 00:24:09,440
Speaker 3: your buddy that should have bought a farm, he could

505
00:24:09,440 --> 00:24:11,159
Speaker 3: have bought twice the size of the farm that he

506
00:24:11,160 --> 00:24:13,879
Speaker 3: could buy today. That's how much purchasing power he has lost.

507
00:24:14,119 --> 00:24:17,000
Speaker 3: And tell me it was crazy then, and you're locked

508
00:24:17,000 --> 00:24:20,879
Speaker 3: into that. And so I think the general market overview,

509
00:24:21,400 --> 00:24:23,239
Speaker 3: I don't want to predict anything, but I can tell

510
00:24:23,280 --> 00:24:27,040
Speaker 3: you this from here in ILLINOI quarter four of last

511
00:24:27,080 --> 00:24:32,320
Speaker 3: year to quarter one today, class A tillable is down

512
00:24:32,320 --> 00:24:35,240
Speaker 3: almost one thousand dollars an acre on average cross the entire state.

513
00:24:36,480 --> 00:24:39,440
Speaker 3: And so like that, that commodity price corn is down

514
00:24:39,480 --> 00:24:41,920
Speaker 3: about thirty percent from where it was last year. It's

515
00:24:41,960 --> 00:24:43,919
Speaker 3: down almost fifty percent from when it was that it's

516
00:24:43,960 --> 00:24:48,000
Speaker 3: peaking in April of twenty two. Beans are down I

517
00:24:48,040 --> 00:24:49,800
Speaker 3: want to say, like twenty percent or something like that too.

518
00:24:49,840 --> 00:24:54,280
Speaker 3: So it's like commodity prices have really like that. There's

519
00:24:54,280 --> 00:24:58,000
Speaker 3: some people that view that ag Land is like the

520
00:24:58,040 --> 00:25:01,960
Speaker 3: gold standard of land, right, and so like if AG struggles,

521
00:25:02,000 --> 00:25:04,399
Speaker 3: and a lot of these pieces are mixed use properties

522
00:25:04,400 --> 00:25:06,679
Speaker 3: where it's thirty percent tillable forty percent tillable, so like,

523
00:25:06,720 --> 00:25:09,920
Speaker 3: if AG goes down, hypothetically, recreational land prices should go

524
00:25:09,960 --> 00:25:13,400
Speaker 3: down to However, year to date, from quarter to four

525
00:25:13,400 --> 00:25:16,160
Speaker 3: of last year, recreational land has actually continued to accelerate,

526
00:25:16,320 --> 00:25:18,280
Speaker 3: which is interesting, and so I don't know if there's

527
00:25:18,280 --> 00:25:22,480
Speaker 3: a lagging period there, But those twenty to sixty acre properties,

528
00:25:22,520 --> 00:25:24,320
Speaker 3: there's still a lot of people that can't afford those,

529
00:25:24,359 --> 00:25:26,560
Speaker 3: and there's a lot of cash out there too, So

530
00:25:26,560 --> 00:25:28,760
Speaker 3: it's like the average household is probably feeling the pinch

531
00:25:28,800 --> 00:25:31,120
Speaker 3: of inflation, but there's a lot of people that haven't

532
00:25:31,160 --> 00:25:33,119
Speaker 3: felt that, and they look at this as a buying opportunity.

533
00:25:33,240 --> 00:25:37,120
Speaker 3: So it's really hard to say what will happen. It's

534
00:25:37,160 --> 00:25:40,400
Speaker 3: really hard to say. We're supposed to have multiple rate

535
00:25:40,440 --> 00:25:42,359
Speaker 3: cuts this year. We haven't had a single one yet.

536
00:25:42,480 --> 00:25:44,320
Speaker 3: We don't even know if one's going to come in September,

537
00:25:44,720 --> 00:25:46,760
Speaker 3: and so there's this a lot of uncertainty in the market,

538
00:25:46,760 --> 00:25:49,080
Speaker 3: which could be good if you're very confident in your

539
00:25:49,119 --> 00:25:52,520
Speaker 3: plan if you are a newbie and you don't have

540
00:25:52,560 --> 00:25:54,200
Speaker 3: someone in your corner and you don't really know what's

541
00:25:54,240 --> 00:25:57,840
Speaker 3: going on, I would probably follow some level of uncertainty.

542
00:25:57,840 --> 00:25:59,800
Speaker 3: But if you've been shopping, you've been waiting, you've been

543
00:26:00,560 --> 00:26:03,800
Speaker 3: this has been your dream, don't let those outside forces

544
00:26:03,840 --> 00:26:07,560
Speaker 3: stop you from sticking to your plan. Like, it's your plan.

545
00:26:07,680 --> 00:26:10,560
Speaker 3: It's not the averages, it's not it's your plan. It's

546
00:26:10,600 --> 00:26:12,000
Speaker 3: what you want to buy, it's what you want to

547
00:26:12,080 --> 00:26:14,840
Speaker 3: keep for five years, six years, seven years, then do it.

548
00:26:14,920 --> 00:26:16,480
Speaker 3: So I think that's the best way to look at

549
00:26:16,520 --> 00:26:19,560
Speaker 3: It's like, look at it is an investment, not a speculation.

550
00:26:20,359 --> 00:26:21,520
Speaker 3: It's the best way to say it.

551
00:26:21,840 --> 00:26:24,479
Speaker 2: Yeah, so this is the again, this is not the

552
00:26:24,520 --> 00:26:27,880
Speaker 2: short term turn and burn market right now. But if

553
00:26:27,880 --> 00:26:29,200
Speaker 2: this is like the hey, I want to get a

554
00:26:29,240 --> 00:26:31,800
Speaker 2: place and have it for a while and then maybe

555
00:26:31,800 --> 00:26:34,640
Speaker 2: five years down the road, you know, flip and grow

556
00:26:34,720 --> 00:26:36,320
Speaker 2: like okay, yeah, go for it.

557
00:26:37,080 --> 00:26:39,160
Speaker 3: Yeah. I think I think that's always a great plan.

558
00:26:39,240 --> 00:26:40,639
Speaker 3: I think that's always been a great plan. And I

559
00:26:40,640 --> 00:26:43,960
Speaker 3: think that when like Warren Buffett or like there's all

560
00:26:43,960 --> 00:26:46,000
Speaker 3: these different things like where you look at if you

561
00:26:46,040 --> 00:26:47,840
Speaker 3: put money in the s and p five hundred. The

562
00:26:47,960 --> 00:26:50,119
Speaker 3: chances that you lose money in a week is whatever,

563
00:26:50,200 --> 00:26:51,639
Speaker 3: and then you look at it for a month and

564
00:26:51,680 --> 00:26:54,200
Speaker 3: then one year, five year, ten year, twenty year. It's

565
00:26:54,520 --> 00:26:57,280
Speaker 3: a similar thought process with land, and I think that's

566
00:26:57,280 --> 00:26:58,960
Speaker 3: the easiest way to illustrate it because that's how people

567
00:26:58,960 --> 00:26:59,439
Speaker 3: are familiar.

568
00:26:59,640 --> 00:27:03,800
Speaker 2: Yep, that makes sense. Now, please forgive my ignorance, But

569
00:27:03,880 --> 00:27:07,960
Speaker 2: I have not bought land myself, so I've never had

570
00:27:08,000 --> 00:27:10,600
Speaker 2: to look into this. But what about refinancing on a

571
00:27:10,640 --> 00:27:13,199
Speaker 2: land purchase, Like, is it just like refining on a

572
00:27:13,240 --> 00:27:15,960
Speaker 2: house or is there something different? Because imagine some people

573
00:27:16,000 --> 00:27:18,440
Speaker 2: are thinking, Okay, I'll buy my land now, I'll get

574
00:27:18,440 --> 00:27:20,520
Speaker 2: a mortgage at eight percent because I have to, but

575
00:27:21,320 --> 00:27:24,320
Speaker 2: hopefully four years from now I can refinance when it's

576
00:27:24,400 --> 00:27:25,119
Speaker 2: more reasonable.

577
00:27:25,280 --> 00:27:28,159
Speaker 3: Is that yeah, Yeah, that's definitely, yeah, that's definitely a

578
00:27:28,240 --> 00:27:31,840
Speaker 3: viable option. It depends on who your lender is and

579
00:27:31,880 --> 00:27:33,960
Speaker 3: everything else. Which this is probably the biggest piece of

580
00:27:34,000 --> 00:27:35,879
Speaker 3: advice when it comes to buy land. Everyone wants to

581
00:27:35,880 --> 00:27:38,160
Speaker 3: shop for a parcel, right. Everyone wants to go look

582
00:27:38,160 --> 00:27:41,280
Speaker 3: at all these farms. Call at least five different banks

583
00:27:41,840 --> 00:27:44,480
Speaker 3: or credit unions. Call at least five explain what you're doing,

584
00:27:44,800 --> 00:27:47,919
Speaker 3: find a bank that understands what understands land, understands what

585
00:27:47,920 --> 00:27:51,280
Speaker 3: you're trying to do, and shop rates because they can

586
00:27:51,320 --> 00:27:54,000
Speaker 3: be a lot different. I mean, the first farm I bought,

587
00:27:54,000 --> 00:27:55,639
Speaker 3: I had to put thirty percent down. It was a

588
00:27:55,680 --> 00:27:58,120
Speaker 3: high rate, and then I ended up finding a bank

589
00:27:58,200 --> 00:28:01,080
Speaker 3: just through work. And if I buy anything else, I'm

590
00:28:01,080 --> 00:28:02,880
Speaker 3: going to go through you guys, because they're the most competitive,

591
00:28:02,960 --> 00:28:06,879
Speaker 3: easiest to deal with a lower down payment, And so

592
00:28:06,920 --> 00:28:10,439
Speaker 3: I think that's a very key important piece here to

593
00:28:10,920 --> 00:28:14,040
Speaker 3: talk to multiple banks and find someone that understands what

594
00:28:14,080 --> 00:28:16,399
Speaker 3: you're trying to do before you go find a piece,

595
00:28:16,840 --> 00:28:19,200
Speaker 3: fall in love with it, and then you call your

596
00:28:19,359 --> 00:28:21,120
Speaker 3: local bank that you've banked there since you were a kid,

597
00:28:21,119 --> 00:28:24,119
Speaker 3: and got a you know, a ten hour to deposit

598
00:28:24,240 --> 00:28:27,080
Speaker 3: into it. Like call some more banks, all right, because

599
00:28:27,400 --> 00:28:30,679
Speaker 3: that's just as important as getting a good deal arguably,

600
00:28:30,720 --> 00:28:32,520
Speaker 3: Like if you can save a percent on a purchase

601
00:28:32,560 --> 00:28:34,439
Speaker 3: of that size, it makes it makes it a huge difference.

602
00:28:34,440 --> 00:28:37,400
Speaker 3: So yeah, you can definitely refinance. Something that's also interesting

603
00:28:37,520 --> 00:28:40,800
Speaker 3: is land loans. A lot of times are arm loans,

604
00:28:40,800 --> 00:28:43,880
Speaker 3: so suggestible rate mortgage, so sometimes that's a three year

605
00:28:43,960 --> 00:28:46,360
Speaker 3: arm loan or a five year, ten year, seven fifty.

606
00:28:46,440 --> 00:28:48,840
Speaker 3: So that's something you have to this. When you call

607
00:28:48,840 --> 00:28:51,040
Speaker 3: the bank, say tell me sound real smart, say this,

608
00:28:51,080 --> 00:28:52,880
Speaker 3: tell me a little bit more about your products. They

609
00:28:52,880 --> 00:28:54,320
Speaker 3: love when you say that, tell me a little bit

610
00:28:54,320 --> 00:28:56,240
Speaker 3: more about your products. You guys just give me money,

611
00:28:56,240 --> 00:28:58,320
Speaker 3: but tell me tell me about your loan products. Like,

612
00:28:58,360 --> 00:29:02,200
Speaker 3: oh yeah, So that's something that I would just ask.

613
00:29:02,280 --> 00:29:04,920
Speaker 3: And so thirty year fixed rates probably going to be higher.

614
00:29:04,960 --> 00:29:06,640
Speaker 3: But there's just so many different things that go on

615
00:29:06,680 --> 00:29:10,280
Speaker 3: with what's happening to prime and how you know the

616
00:29:10,280 --> 00:29:12,840
Speaker 3: bank is borrowing money from another bank in order to

617
00:29:12,840 --> 00:29:14,680
Speaker 3: give you money, and so they have to get martgage

618
00:29:14,680 --> 00:29:17,440
Speaker 3: on it. So call out of banks, be prepared to

619
00:29:17,440 --> 00:29:19,880
Speaker 3: refinance if you need to, or keep saving money and

620
00:29:19,960 --> 00:29:23,000
Speaker 3: keep looking because there's something's going to come along eventually.

621
00:29:23,800 --> 00:29:26,920
Speaker 2: Are there any other things along those lines that a

622
00:29:26,960 --> 00:29:30,320
Speaker 2: first time buyer oftentimes is not aware of, or hasn't

623
00:29:30,320 --> 00:29:33,040
Speaker 2: thought about, or is not prepared for. But that would

624
00:29:33,080 --> 00:29:36,480
Speaker 2: be very useful to know before taking this leap.

625
00:29:38,080 --> 00:29:42,200
Speaker 3: Yeah, I think a lot of it is probably bank specific.

626
00:29:42,480 --> 00:29:44,320
Speaker 3: If you're self employed, you have a little bit more

627
00:29:44,360 --> 00:29:49,560
Speaker 3: going against you, is the reality of it. But I

628
00:29:49,560 --> 00:29:52,920
Speaker 3: would say, plan on having twenty twenty five percent ready

629
00:29:52,920 --> 00:29:56,000
Speaker 3: for a down payment, ask them about their loan products,

630
00:29:57,040 --> 00:29:59,200
Speaker 3: way out, whatever you think is the best one for you,

631
00:30:00,120 --> 00:30:03,560
Speaker 3: and shop around. I think that's probably the most important thing.

632
00:30:03,600 --> 00:30:05,760
Speaker 3: And ask these people are here to help you. They're

633
00:30:05,800 --> 00:30:08,240
Speaker 3: here to earn your business, right, they want you to

634
00:30:08,240 --> 00:30:10,240
Speaker 3: do business with them, And say and ask them what

635
00:30:10,280 --> 00:30:12,840
Speaker 3: advice do you have? What what are some things I

636
00:30:12,880 --> 00:30:14,479
Speaker 3: should look at? And so because a lot of these

637
00:30:14,520 --> 00:30:18,560
Speaker 3: bankers do they specialize in land, and they are familiar

638
00:30:18,640 --> 00:30:21,600
Speaker 3: with the market, and a lot of times their opinion

639
00:30:21,640 --> 00:30:24,800
Speaker 3: isn't probably my opinion, but you can get their opinion too.

640
00:30:24,920 --> 00:30:28,040
Speaker 3: Is just another data point. So I think those are

641
00:30:28,040 --> 00:30:31,160
Speaker 3: the biggest things. Shop chopper, a lender understanding you have

642
00:30:31,200 --> 00:30:35,880
Speaker 3: a down payment. The biggest thing debt to income ratio.

643
00:30:36,520 --> 00:30:38,840
Speaker 3: You got a sixty seventy thousand dollars truck sitting in

644
00:30:38,880 --> 00:30:41,440
Speaker 3: your park, in your garage, and you pay fifte hundred

645
00:30:41,440 --> 00:30:43,480
Speaker 3: dollars a month on that. That's your first farm. It's

646
00:30:43,480 --> 00:30:46,240
Speaker 3: sitting in your garage instead of on ther I think

647
00:30:46,240 --> 00:30:47,720
Speaker 3: that's probably the hardest thing for a lot of people

648
00:30:47,760 --> 00:30:51,360
Speaker 3: to really realize. And I truly believe and that's part

649
00:30:51,360 --> 00:30:53,320
Speaker 3: of the reason why I started a land podcast is

650
00:30:53,360 --> 00:30:55,240
Speaker 3: I talked to so many people that, like the friend

651
00:30:55,280 --> 00:30:57,280
Speaker 3: you mentioned, I would always love to own a piece

652
00:30:57,280 --> 00:31:00,000
Speaker 3: of ground, and you start learning it's way more accessible

653
00:31:00,640 --> 00:31:03,920
Speaker 3: than what you probably realized right here today. It's not

654
00:31:03,960 --> 00:31:06,800
Speaker 3: going to happen by accident, but you can do some

655
00:31:06,840 --> 00:31:09,200
Speaker 3: small things in your life to figure out how to

656
00:31:09,800 --> 00:31:11,760
Speaker 3: get to that point. And it might not happen in

657
00:31:11,800 --> 00:31:13,440
Speaker 3: a year. It might take two or three years for

658
00:31:13,480 --> 00:31:15,280
Speaker 3: you to get to where you're at, but you can

659
00:31:15,320 --> 00:31:17,720
Speaker 3: definitely do it. I firmly believe everyone can own land

660
00:31:17,760 --> 00:31:21,400
Speaker 3: if there make some microadjustments in their personal finance or

661
00:31:21,440 --> 00:31:23,520
Speaker 3: in their life, if it's that big of a priority.

662
00:31:23,600 --> 00:31:26,320
Speaker 3: I truly believe everyone can own a piece of ground

663
00:31:26,360 --> 00:31:28,520
Speaker 3: at some point in their lifetime. And so to me,

664
00:31:28,640 --> 00:31:32,600
Speaker 3: that's liberating, right because a lot of people are just programmed, well,

665
00:31:33,280 --> 00:31:35,120
Speaker 3: you know, I wish I was born into a farming family,

666
00:31:35,200 --> 00:31:36,760
Speaker 3: or I wish I hit the lottery, or I wish

667
00:31:36,760 --> 00:31:38,400
Speaker 3: I did this, or I wish I did that, but

668
00:31:38,640 --> 00:31:40,640
Speaker 3: wishing and just put together a plan and get there,

669
00:31:40,680 --> 00:31:43,040
Speaker 3: because you can do it. If I growing up, I

670
00:31:43,120 --> 00:31:45,440
Speaker 3: just dreamed of owning a farm like that was like

671
00:31:45,560 --> 00:31:47,520
Speaker 3: no matter five ac or ten acres, twenty whatever. It

672
00:31:47,600 --> 00:31:49,760
Speaker 3: was like that was my goal and it was way

673
00:31:49,760 --> 00:31:53,200
Speaker 3: more accessible than I think everyone realizes. And so I

674
00:31:53,320 --> 00:31:55,520
Speaker 3: just I just want to champion everyone of not to

675
00:31:55,560 --> 00:31:57,080
Speaker 3: get discouraged and not to say, oh, I would be

676
00:31:57,120 --> 00:31:58,640
Speaker 3: really cool to own a piece. If you want one,

677
00:31:58,640 --> 00:31:59,880
Speaker 3: you can do it. I guarantee it.

678
00:32:01,080 --> 00:32:02,959
Speaker 2: So one of the things that a lot of folks

679
00:32:03,280 --> 00:32:07,040
Speaker 2: consider if they're you know, on the fence about this,

680
00:32:07,240 --> 00:32:09,560
Speaker 2: and it's it feels like a financial stretch a little bit.

681
00:32:09,840 --> 00:32:10,040
Speaker 3: I know.

682
00:32:10,160 --> 00:32:13,840
Speaker 2: One of the common piece of advice that we'll hear

683
00:32:14,040 --> 00:32:18,800
Speaker 2: is is look at ways to derive income from your property,

684
00:32:19,320 --> 00:32:22,560
Speaker 2: so you know, essentially find ways to get dividends of

685
00:32:22,560 --> 00:32:24,440
Speaker 2: a sort from it. You can either you know, put

686
00:32:24,480 --> 00:32:27,680
Speaker 2: crop into or put put land into production, lease out

687
00:32:27,720 --> 00:32:31,280
Speaker 2: your ground for for row crappers, uh, do a timber

688
00:32:31,360 --> 00:32:34,520
Speaker 2: harvest on the property, sign up for some kind of

689
00:32:34,600 --> 00:32:39,280
Speaker 2: government program, all that kind of stuff. There's options, but

690
00:32:39,320 --> 00:32:42,560
Speaker 2: I'm curious, you know, if if the headline is like, hey,

691
00:32:42,560 --> 00:32:44,120
Speaker 2: you can make money off your property through all these

692
00:32:44,160 --> 00:32:46,120
Speaker 2: different things, and I think most people know like that's

693
00:32:46,120 --> 00:32:49,479
Speaker 2: an option, But when you get into the nitty gritty

694
00:32:49,520 --> 00:32:53,040
Speaker 2: of it. You know, how does someone go about assessing

695
00:32:53,200 --> 00:32:55,760
Speaker 2: the potential, like before they buy and they're thinking, like, Okay,

696
00:32:55,800 --> 00:32:57,880
Speaker 2: can I can I afford this farm? I think I

697
00:32:57,920 --> 00:33:00,440
Speaker 2: can maybe afford it, But but man if I could

698
00:33:00,440 --> 00:33:02,000
Speaker 2: make some money off the timber, and if I could

699
00:33:02,000 --> 00:33:03,440
Speaker 2: make some money, if I could get this in the quip,

700
00:33:03,520 --> 00:33:05,160
Speaker 2: or if I could get this in CRP or something

701
00:33:05,160 --> 00:33:07,320
Speaker 2: that I've heard about on this podcast, and all of

702
00:33:07,360 --> 00:33:09,360
Speaker 2: a sudden it was bringing in another eight hundred bucks

703
00:33:09,400 --> 00:33:11,800
Speaker 2: a month that might help a lot. Like how does

704
00:33:11,800 --> 00:33:13,880
Speaker 2: someone actually figure that out? Because there's a lot of

705
00:33:13,880 --> 00:33:16,520
Speaker 2: like hypotheticals like yeah, do this, do this, But then

706
00:33:16,560 --> 00:33:20,320
Speaker 2: when it comes down to the brass tacks, how realistic

707
00:33:20,400 --> 00:33:22,440
Speaker 2: is that? How do you figure any of that out

708
00:33:22,480 --> 00:33:23,520
Speaker 2: before you buy the place?

709
00:33:24,120 --> 00:33:27,160
Speaker 3: Yeah, that's a that's important of having an agent. For sure.

710
00:33:27,160 --> 00:33:29,480
Speaker 3: I hate to be the guy that like champions the

711
00:33:29,520 --> 00:33:32,720
Speaker 3: industry here, but you need a good agent. No, no,

712
00:33:32,840 --> 00:33:35,120
Speaker 3: But in all seriousness, those are really good points. And

713
00:33:35,120 --> 00:33:36,560
Speaker 3: so I think that a lot of people just know

714
00:33:36,600 --> 00:33:38,880
Speaker 3: that to your point, the very surface, they know what

715
00:33:38,920 --> 00:33:40,720
Speaker 3: it is and they maybe can tell you a sentence

716
00:33:40,800 --> 00:33:43,320
Speaker 3: or two about it. Yeah, but just because something is

717
00:33:43,520 --> 00:33:46,640
Speaker 3: in CRP and it's not going to be compliant or

718
00:33:46,680 --> 00:33:50,240
Speaker 3: eligible for re enrollment, then like you need to call

719
00:33:50,280 --> 00:33:53,080
Speaker 3: the NRCS office in the FSA office and say hey,

720
00:33:53,720 --> 00:33:56,680
Speaker 3: you get an FSA release form from the sellers and say, hey,

721
00:33:56,680 --> 00:33:58,840
Speaker 3: I need to know is this potentially eligible for re

722
00:33:58,920 --> 00:34:03,880
Speaker 3: enrollment or so just to break down so like cash rent,

723
00:34:04,480 --> 00:34:07,160
Speaker 3: if a piece that is recreational, usually there's not gonna

724
00:34:07,160 --> 00:34:08,799
Speaker 3: be a bunch of farmers that are super excited at

725
00:34:08,840 --> 00:34:10,719
Speaker 3: farming in a lot of parts of the country. It's

726
00:34:10,760 --> 00:34:12,399
Speaker 3: more of like they're doing you a favorite of farming.

727
00:34:12,520 --> 00:34:17,000
Speaker 3: That's been my experience on multiple pieces. And so just

728
00:34:17,000 --> 00:34:20,480
Speaker 3: because everyone has such yeah everyone has giant equipment, and

729
00:34:21,160 --> 00:34:23,719
Speaker 3: you know there's just so many it's like, yeah, I

730
00:34:24,040 --> 00:34:26,400
Speaker 3: will farm. It's kind of what it feels like a

731
00:34:26,400 --> 00:34:30,640
Speaker 3: lot of times when you talk to pull my arm. Yeah. Yeah.

732
00:34:30,719 --> 00:34:32,320
Speaker 3: Now that might be different if you're looking at a

733
00:34:32,320 --> 00:34:34,239
Speaker 3: different type of farm. But you know, for someone that's

734
00:34:34,239 --> 00:34:35,960
Speaker 3: looking at a forty and there's ten acres of tollable

735
00:34:36,000 --> 00:34:39,239
Speaker 3: on it, your highest income is probably going to come

736
00:34:39,239 --> 00:34:41,120
Speaker 3: from CRP. Now you have to own that farm for

737
00:34:41,200 --> 00:34:44,440
Speaker 3: one year before you enroll CRP. So if you buy

738
00:34:44,520 --> 00:34:46,120
Speaker 3: it and you think, oh, I'm gonna I'm gonna get

739
00:34:46,120 --> 00:34:47,520
Speaker 3: CRP payments right away, you need to own it for

740
00:34:47,560 --> 00:34:49,439
Speaker 3: a year before you go into enrollment, and so that's

741
00:34:49,440 --> 00:34:51,520
Speaker 3: really important. The other thing too, is asked to have

742
00:34:51,560 --> 00:34:54,759
Speaker 3: cropp in history. So let's say someone bought it and

743
00:34:54,920 --> 00:34:57,080
Speaker 3: they put it it was in pasture before, and then

744
00:34:57,239 --> 00:34:58,719
Speaker 3: they bought it, they put it into beans, and then

745
00:34:58,719 --> 00:35:00,160
Speaker 3: they're selling it and you think, oh, I can put

746
00:35:00,160 --> 00:35:02,279
Speaker 3: it in the CRP next year, you wouldn't because the

747
00:35:02,280 --> 00:35:04,920
Speaker 3: wouldn't be enough cropping history. So that's where there's a

748
00:35:04,920 --> 00:35:06,799
Speaker 3: lot of things that go into this to really get

749
00:35:06,800 --> 00:35:09,319
Speaker 3: a full full idea and plan and utilize those free

750
00:35:09,400 --> 00:35:13,600
Speaker 3: resources like the USDA office provides. That's their job, that's

751
00:35:13,719 --> 00:35:16,000
Speaker 3: they have that information for you. So I think that's

752
00:35:16,000 --> 00:35:18,080
Speaker 3: probably one of the biggest things. And a lot of

753
00:35:18,080 --> 00:35:20,360
Speaker 3: recreational farms you are lucky if you can get a

754
00:35:20,440 --> 00:35:25,880
Speaker 3: quote unquote three percent return, like you'd be lucky now.

755
00:35:25,920 --> 00:35:27,120
Speaker 3: Back in the day when land was a little bit

756
00:35:27,160 --> 00:35:29,360
Speaker 3: cheaper and there was better CRP payments relative to the

757
00:35:29,400 --> 00:35:30,960
Speaker 3: price of land, it was easier to get that. But

758
00:35:31,080 --> 00:35:34,399
Speaker 3: most recreational farms are probably looking at one to two

759
00:35:34,400 --> 00:35:38,880
Speaker 3: and a half percent in reality as a law of average.

760
00:35:39,040 --> 00:35:42,239
Speaker 2: Can you can you explain what you're saying when you

761
00:35:42,280 --> 00:35:46,760
Speaker 2: say you're getting one to two percent that is cash.

762
00:35:46,960 --> 00:35:50,439
Speaker 3: Yeah, so meaning okay, so forty acres and I don't

763
00:35:50,440 --> 00:35:51,960
Speaker 3: know if it's actually going to pens on to the

764
00:35:52,000 --> 00:35:54,480
Speaker 3: percentage range that I'm providing. But let's say forty forty

765
00:35:54,520 --> 00:35:57,680
Speaker 3: acres for two hundred thousand dollars and there's ten acres

766
00:35:57,680 --> 00:36:00,960
Speaker 3: on it, and you're getting two hundred dollars an acre

767
00:36:01,000 --> 00:36:04,680
Speaker 3: of a CRP payment, So that'd be one percent. That's

768
00:36:04,840 --> 00:36:07,480
Speaker 3: probably reminiscent to what most people are going to look at.

769
00:36:07,480 --> 00:36:10,759
Speaker 3: So in reality, in my opinion, most of it's like

770
00:36:11,239 --> 00:36:13,200
Speaker 3: it's gonna help pay for food plots, eater, It's gonna

771
00:36:13,200 --> 00:36:15,319
Speaker 3: help pay for whatever I'm going to put onto it,

772
00:36:15,360 --> 00:36:18,560
Speaker 3: and so it's hard. Now, there's different parts that like

773
00:36:19,080 --> 00:36:21,239
Speaker 3: to me, like the best. If you're a guy that

774
00:36:21,280 --> 00:36:24,440
Speaker 3: said I need to scratch my investment itch and my

775
00:36:24,560 --> 00:36:27,680
Speaker 3: hunting itch, the best everyone wants a big block of timber.

776
00:36:27,800 --> 00:36:29,799
Speaker 3: I know that for fact. Everyone everyone wants a big

777
00:36:29,800 --> 00:36:32,359
Speaker 3: block of timber because I think that's the best. If

778
00:36:32,400 --> 00:36:37,200
Speaker 3: that is you. I would look at a marginal tillable

779
00:36:37,239 --> 00:36:40,560
Speaker 3: type ground that could be enrolled in a CRP or

780
00:36:40,600 --> 00:36:43,560
Speaker 3: a CRP farm, and I'm talking eighty acres and it's

781
00:36:43,600 --> 00:36:45,960
Speaker 3: got two ditches in it or three ditches in it

782
00:36:46,000 --> 00:36:48,200
Speaker 3: in a place to have a couple stands. It's gonna

783
00:36:48,200 --> 00:36:50,040
Speaker 3: be an easy farm to probably burn out, but you're

784
00:36:50,040 --> 00:36:51,799
Speaker 3: going to have the income from the CRP and that's

785
00:36:51,800 --> 00:36:53,200
Speaker 3: going to help you, you know, maybe buy a little

786
00:36:53,200 --> 00:36:55,080
Speaker 3: bit bigger farm. So I think that's something too, is

787
00:36:56,120 --> 00:36:57,440
Speaker 3: whatever you have in your mind, you have to be

788
00:36:57,480 --> 00:37:00,360
Speaker 3: able to be flexible. If you want to have the

789
00:37:00,440 --> 00:37:02,080
Speaker 3: investment type piece, then you're going to have to have

790
00:37:02,120 --> 00:37:05,520
Speaker 3: something on there. And you brought op timber, and I

791
00:37:05,520 --> 00:37:09,160
Speaker 3: think that's a great point. And this is just my opinion.

792
00:37:09,200 --> 00:37:10,799
Speaker 3: I think a lot of people look at that as

793
00:37:10,840 --> 00:37:13,799
Speaker 3: a land shortcut, and I don't think it's probably the

794
00:37:13,840 --> 00:37:17,479
Speaker 3: best thing for the timber that's on it. So there's

795
00:37:17,520 --> 00:37:22,439
Speaker 3: a study out of a University of Iowa and black

796
00:37:22,480 --> 00:37:26,640
Speaker 3: walnuts outpaced the S and P five hundred historically. So

797
00:37:27,000 --> 00:37:30,160
Speaker 3: when you chop down that tree that has a you know,

798
00:37:30,440 --> 00:37:33,719
Speaker 3: Steve Hansen and Skip have both given very similar independent

799
00:37:33,920 --> 00:37:36,920
Speaker 3: opinions on this topic. I've spent time with both of them,

800
00:37:36,920 --> 00:37:39,839
Speaker 3: and they both almost gave you the same concept of it's

801
00:37:39,880 --> 00:37:41,600
Speaker 3: like shooting one hundred and sixty inch three year old,

802
00:37:41,760 --> 00:37:44,880
Speaker 3: like you know, cutting a young timber. So like people

803
00:37:44,920 --> 00:37:46,160
Speaker 3: look at that and they're like, oh, man, I can

804
00:37:46,200 --> 00:37:48,040
Speaker 3: you know my down payment's forty thousand, and I can

805
00:37:48,120 --> 00:37:50,240
Speaker 3: you know, get however much money from a timber cut,

806
00:37:50,520 --> 00:37:52,040
Speaker 3: when in reality, if you waited ten years, you could

807
00:37:52,080 --> 00:37:54,160
Speaker 3: have got drastically more. So I think it's a good

808
00:37:54,200 --> 00:37:56,040
Speaker 3: thing to have in your toolbox. It's something to consider.

809
00:37:56,120 --> 00:37:57,920
Speaker 3: I think you really need to talk to a forester

810
00:37:58,440 --> 00:38:04,040
Speaker 3: and get a professional's opinion. Except I think that here

811
00:38:04,480 --> 00:38:08,080
Speaker 3: I could walk fifteen farms and one of them is like,

812
00:38:08,080 --> 00:38:11,040
Speaker 3: oh yeah, there's some timber value on this. Because everyone

813
00:38:11,080 --> 00:38:13,400
Speaker 3: has the same concept of the short sided mind of

814
00:38:13,400 --> 00:38:14,400
Speaker 3: like I'm gonna go in there and buy and I'm

815
00:38:14,400 --> 00:38:15,480
Speaker 3: gonna get all the trees out of it, and I'm

816
00:38:15,480 --> 00:38:17,680
Speaker 3: going to get some money back. In reality, if you

817
00:38:17,680 --> 00:38:19,719
Speaker 3: were truly trying to scratch that investment, it's you were

818
00:38:19,719 --> 00:38:21,839
Speaker 3: going to actually do a crop release, let those trees

819
00:38:21,880 --> 00:38:24,000
Speaker 3: continue to grow, take care of them, and let them

820
00:38:24,040 --> 00:38:26,799
Speaker 3: grow and then that value doesn't leave, right, Like that

821
00:38:26,840 --> 00:38:31,480
Speaker 3: tree is there barring a thunderstrike hits it or a

822
00:38:31,520 --> 00:38:33,279
Speaker 3: tornado rips through it, but like that value is going

823
00:38:33,320 --> 00:38:36,960
Speaker 3: to continue to grow. And to me, that's something that

824
00:38:37,000 --> 00:38:39,239
Speaker 3: needs to be protected rather than exploited. And that's just

825
00:38:40,640 --> 00:38:43,799
Speaker 3: what my gut says. Like there's a million there's a

826
00:38:43,800 --> 00:38:45,680
Speaker 3: lot of ways to find success to what you want

827
00:38:45,680 --> 00:38:48,480
Speaker 3: to do. But that's just my public disclaimer of think

828
00:38:48,520 --> 00:38:50,520
Speaker 3: twice before you just try to extract all the value

829
00:38:50,520 --> 00:38:54,160
Speaker 3: out of the trees, because I think it's, in my opinion,

830
00:38:54,440 --> 00:38:57,120
Speaker 3: being exploited. And is it?

831
00:38:57,160 --> 00:39:02,000
Speaker 2: Is it something that is commonly like accepted practice to

832
00:39:03,160 --> 00:39:05,720
Speaker 2: get a forester out there with you before you purchase

833
00:39:05,719 --> 00:39:07,839
Speaker 2: a piece of ground, like tell your agent or tell someone, hey,

834
00:39:07,880 --> 00:39:10,360
Speaker 2: I'm interested in buying this, but I want a forester's perspective.

835
00:39:10,880 --> 00:39:12,360
Speaker 3: Can you get away with that kind of thing? Or

836
00:39:13,000 --> 00:39:15,600
Speaker 3: I think it probably dependent on the seller. I think

837
00:39:15,600 --> 00:39:18,000
Speaker 3: some sellers will be open to that. And here's the

838
00:39:18,040 --> 00:39:19,320
Speaker 3: reality of but two, it's like we're all dealing with

839
00:39:19,480 --> 00:39:22,560
Speaker 3: different personalities, right. You can have some super relaxed sellars

840
00:39:22,600 --> 00:39:23,799
Speaker 3: and then you can have some people that are really

841
00:39:23,880 --> 00:39:25,759
Speaker 3: uptight and so I think that's probably dependent on the

842
00:39:25,760 --> 00:39:28,960
Speaker 3: type of seller, and I think I'm not anything close

843
00:39:29,000 --> 00:39:30,960
Speaker 3: to a forester, but I can at least give you

844
00:39:31,120 --> 00:39:33,960
Speaker 3: a starting point or a springboard of like, yeah, you know,

845
00:39:34,040 --> 00:39:36,120
Speaker 3: this is a really good example of one that has

846
00:39:36,120 --> 00:39:38,680
Speaker 3: some value now but will be exponentially worth more in

847
00:39:38,840 --> 00:39:42,319
Speaker 3: however many years, and when you go to sell that, right,

848
00:39:42,840 --> 00:39:46,120
Speaker 3: that value isn't gone. You can portray that value to

849
00:39:46,160 --> 00:39:49,360
Speaker 3: the next guy. Sure, So I think that's just really important,

850
00:39:49,360 --> 00:39:51,600
Speaker 3: but it is certainly a good option. Though. If you

851
00:39:51,640 --> 00:39:53,759
Speaker 3: buy a piece and it's a that tree's gonna die

852
00:39:53,840 --> 00:39:56,680
Speaker 3: because it's so old and big, then yeah, that makes sense,

853
00:39:56,719 --> 00:39:58,840
Speaker 3: But don't kill the three year old one hundred and

854
00:39:58,880 --> 00:40:00,480
Speaker 3: sixty inchier like you don't want you don't want to

855
00:40:00,480 --> 00:40:00,680
Speaker 3: do that.

856
00:40:01,000 --> 00:40:03,960
Speaker 2: Yeah, so okay, So you can. You can lease out

857
00:40:03,960 --> 00:40:06,520
Speaker 2: your ground to a farmer. You can put it into

858
00:40:06,520 --> 00:40:10,959
Speaker 2: a government program and get a payment. You can look

859
00:40:11,000 --> 00:40:16,560
Speaker 2: into some kind of timber harvest if appropriate. Are there

860
00:40:16,600 --> 00:40:20,200
Speaker 2: any other revenue opportunities with a piece of recreational ground

861
00:40:20,200 --> 00:40:23,680
Speaker 2: that you've found that's actually a reasonable opportunity for someone

862
00:40:23,719 --> 00:40:25,440
Speaker 2: to look at if they're trying to figure out how

863
00:40:25,440 --> 00:40:28,040
Speaker 2: they can make this work financially, Yeah.

864
00:40:27,880 --> 00:40:31,960
Speaker 3: I think yeah, equip equip is an excellent, probably underutilized

865
00:40:34,200 --> 00:40:35,960
Speaker 3: government tool to get some income from a piece. I

866
00:40:35,960 --> 00:40:38,799
Speaker 3: wouldn't really necessarily say it's true income, but it's kind

867
00:40:38,800 --> 00:40:41,120
Speaker 3: of like you're getting paid to improve the parcel. And

868
00:40:41,200 --> 00:40:44,520
Speaker 3: so you can do exotic removal and basis species removal.

869
00:40:44,560 --> 00:40:46,319
Speaker 3: You can get paid paracor to do that. And that's

870
00:40:46,320 --> 00:40:48,279
Speaker 3: something you don't have to wait to own it for

871
00:40:48,280 --> 00:40:50,000
Speaker 3: a year. That's something you could apply right away. Now

872
00:40:50,000 --> 00:40:52,600
Speaker 3: there's application periods, but that's something you could start working

873
00:40:52,640 --> 00:40:55,040
Speaker 3: on the day you buy it. And so there's there

874
00:40:55,040 --> 00:40:57,480
Speaker 3: are so many different EQUIP projects that you can do.

875
00:40:57,960 --> 00:41:02,760
Speaker 3: I've done and basis species remove, I've done tree planning,

876
00:41:03,040 --> 00:41:06,319
Speaker 3: drug planning, and there's there is a lot of them.

877
00:41:06,480 --> 00:41:09,239
Speaker 3: I mean, if you there is a pile, there's uh

878
00:41:10,400 --> 00:41:17,400
Speaker 3: bird houses, there's brush piles, there's erosion control, there's there's

879
00:41:17,440 --> 00:41:19,320
Speaker 3: a lot of different things. Now you're not going to

880
00:41:19,360 --> 00:41:21,600
Speaker 3: get rich from any of this, but it could help

881
00:41:21,680 --> 00:41:23,760
Speaker 3: improve the parcel. And if you do the labor yourself,

882
00:41:23,800 --> 00:41:25,480
Speaker 3: then you can put a little money into your pocket.

883
00:41:25,600 --> 00:41:27,880
Speaker 3: And so I think that's really important. And then I

884
00:41:27,880 --> 00:41:29,759
Speaker 3: mean some of the more obvious ones. If you don't

885
00:41:29,760 --> 00:41:31,840
Speaker 3: like turkey hunting, you can lease the turkey hunting rights.

886
00:41:32,560 --> 00:41:34,759
Speaker 3: I think another thing is if you buy one with

887
00:41:35,000 --> 00:41:37,440
Speaker 3: a house on it, you could parcel off the house

888
00:41:37,480 --> 00:41:39,440
Speaker 3: and sell the house or rent the house or airbnb

889
00:41:39,520 --> 00:41:41,120
Speaker 3: in the house and you know, block out those dates

890
00:41:41,120 --> 00:41:43,600
Speaker 3: when you're going to be there hunting it. I think

891
00:41:43,640 --> 00:41:47,000
Speaker 3: another one that is probably more advanced, but something to consider.

892
00:41:47,760 --> 00:41:49,680
Speaker 3: There's no secret there's a lot of solar panels going up.

893
00:41:49,880 --> 00:41:52,480
Speaker 3: If you can find a farm that has three phase

894
00:41:52,520 --> 00:41:55,120
Speaker 3: power running near near it with a substation with a

895
00:41:55,239 --> 00:41:57,239
Speaker 3: capacity to add a solar panel system, that could be

896
00:41:57,280 --> 00:42:00,799
Speaker 3: a home run. Now it's very, very very specific and

897
00:42:00,880 --> 00:42:02,960
Speaker 3: you're gonna need to utilize some experts on that, but

898
00:42:03,000 --> 00:42:04,840
Speaker 3: that's another more out of the box idea that you

899
00:42:04,840 --> 00:42:07,680
Speaker 3: could at least consider. And so those are those are

900
00:42:07,680 --> 00:42:09,120
Speaker 3: some of the biggest ones. But I think the biggest

901
00:42:09,120 --> 00:42:11,239
Speaker 3: thing is buying a farm for a fair price. I mean,

902
00:42:11,239 --> 00:42:14,160
Speaker 3: that's that's really what it boils down to, and then

903
00:42:14,239 --> 00:42:15,839
Speaker 3: just figuring out what you can afford. I mean, if

904
00:42:15,840 --> 00:42:18,680
Speaker 3: you are if you're that tight, where twenty bucks an

905
00:42:18,680 --> 00:42:21,000
Speaker 3: acre cash rent is going to make or break you.

906
00:42:21,000 --> 00:42:23,719
Speaker 3: You're probably spending too much money. So I think that's

907
00:42:23,719 --> 00:42:25,719
Speaker 3: probably the biggest thing too, is like, don't be so

908
00:42:25,800 --> 00:42:28,160
Speaker 3: shortsighted that you have to exploit your land in order

909
00:42:28,239 --> 00:42:29,719
Speaker 3: to pay for it. Like you bought it. You want

910
00:42:29,719 --> 00:42:30,800
Speaker 3: to be a good steward of it. You want to

911
00:42:30,800 --> 00:42:31,960
Speaker 3: take care of it. You want to this is what

912
00:42:32,000 --> 00:42:34,120
Speaker 3: you dreamed of, Right, do you want to go degrade

913
00:42:34,160 --> 00:42:38,640
Speaker 3: it in order to pay for it? I wouldn't personally.

914
00:42:38,960 --> 00:42:52,680
Speaker 2: Yeah, all right, I want to play game, ah jake,

915
00:42:53,480 --> 00:42:56,919
Speaker 2: what Yeah, I want to call it green light, red light?

916
00:42:57,640 --> 00:43:01,880
Speaker 2: Walk me through some green lights and some red lights.

917
00:43:02,160 --> 00:43:04,640
Speaker 2: When it comes to a farm, if you're shopping for

918
00:43:04,680 --> 00:43:06,759
Speaker 2: a farm, you're out there, you're looking at pieces, you're

919
00:43:06,800 --> 00:43:10,680
Speaker 2: walking pieces, or you're looking online listings, what would be

920
00:43:10,760 --> 00:43:13,640
Speaker 2: some of the top things that would give you like

921
00:43:13,680 --> 00:43:16,759
Speaker 2: that ooh yes, green means go kind of feeling. And

922
00:43:16,800 --> 00:43:18,719
Speaker 2: what are some of the top things, especially things that

923
00:43:18,719 --> 00:43:22,200
Speaker 2: maybe people overlook that would be hey, red light, tap

924
00:43:22,239 --> 00:43:24,920
Speaker 2: the brakes. This is concerning.

925
00:43:25,920 --> 00:43:27,279
Speaker 3: When we start with a green light or red light.

926
00:43:27,320 --> 00:43:29,440
Speaker 2: First, let's start with the greens, because people want to

927
00:43:29,440 --> 00:43:30,920
Speaker 2: be excited and want to buy a farm. So we'll

928
00:43:30,920 --> 00:43:32,920
Speaker 2: get them all excited like, yes, you can buy, and

929
00:43:32,960 --> 00:43:35,239
Speaker 2: then you can confront them with the reality of the

930
00:43:35,320 --> 00:43:35,840
Speaker 2: red lights.

931
00:43:36,680 --> 00:43:40,080
Speaker 3: Yeah, I think number one of the most obvious green

932
00:43:40,120 --> 00:43:42,359
Speaker 3: lights and probably something that I have noticed a trend

933
00:43:42,440 --> 00:43:45,040
Speaker 3: of people being way more focused on access, you know,

934
00:43:45,080 --> 00:43:47,640
Speaker 3: whatever the predominant wind is, that's what they really really want.

935
00:43:47,680 --> 00:43:49,400
Speaker 3: So I think that's probably one of the biggest things

936
00:43:49,960 --> 00:43:53,359
Speaker 3: of looking at, is this access suitable to your goals,

937
00:43:53,360 --> 00:43:55,000
Speaker 3: because I think that is one of the most important

938
00:43:55,000 --> 00:43:56,799
Speaker 3: things here too. Everyone in the head things they need

939
00:43:56,800 --> 00:43:59,000
Speaker 3: to buy a farm of kill booters. There's not a

940
00:43:59,000 --> 00:44:02,439
Speaker 3: lot of farms that can truly produce that. If someone

941
00:44:02,440 --> 00:44:04,920
Speaker 3: tells you that they're lying mean opinion, they're not hiding

942
00:44:04,920 --> 00:44:07,719
Speaker 3: behind every tree in Illinois. No, I can tell you that.

943
00:44:07,840 --> 00:44:10,480
Speaker 3: I could tell you that for a fact. Now there's

944
00:44:10,520 --> 00:44:13,880
Speaker 3: some farms that So I think just to establish the

945
00:44:13,880 --> 00:44:16,239
Speaker 3: red light green light, Like if your goal you have

946
00:44:16,600 --> 00:44:17,880
Speaker 3: a ten year old son and you want to go

947
00:44:17,920 --> 00:44:19,360
Speaker 3: on the weekends and help with your son and have

948
00:44:19,480 --> 00:44:21,960
Speaker 3: quality time in the summer and everything else, your green

949
00:44:22,040 --> 00:44:23,360
Speaker 3: light and red lights are gonna be different than a

950
00:44:23,400 --> 00:44:26,040
Speaker 3: guy that really really wants to kill butter. So we'll

951
00:44:26,080 --> 00:44:27,680
Speaker 3: just talk to the average guy here, because I think

952
00:44:27,680 --> 00:44:31,160
Speaker 3: that's where most of us are. Access is huge. I

953
00:44:31,200 --> 00:44:34,520
Speaker 3: think another green light is it within two hours of

954
00:44:34,560 --> 00:44:37,279
Speaker 3: your primary residence where you plan on going to look

955
00:44:37,360 --> 00:44:40,240
Speaker 3: at it, because I think a lot of people, depending

956
00:44:40,239 --> 00:44:42,160
Speaker 3: on what part of the country, and man, this farm

957
00:44:42,200 --> 00:44:45,000
Speaker 3: that's seven hours away is thirty percent cheaper than the

958
00:44:45,040 --> 00:44:47,719
Speaker 3: farm that's an hour away, they buy the one that's

959
00:44:47,880 --> 00:44:50,520
Speaker 3: seven hours away. Like, we didn't really go down as

960
00:44:50,560 --> 00:44:52,680
Speaker 3: often as we wanted to, or the kids and wife

961
00:44:52,719 --> 00:44:53,960
Speaker 3: didn't want to go down there as often. So I

962
00:44:54,000 --> 00:44:55,759
Speaker 3: think two hours is kind of the cap where I

963
00:44:55,800 --> 00:44:58,120
Speaker 3: think you sure your radius should be. So that's another

964
00:44:58,160 --> 00:45:01,759
Speaker 3: green light. Oh it's within two hours of my I

965
00:45:01,800 --> 00:45:04,680
Speaker 3: think another thing too, is obviously greenlight. I can afford

966
00:45:04,719 --> 00:45:07,440
Speaker 3: this based off of the income or based off of

967
00:45:07,480 --> 00:45:10,399
Speaker 3: the price of it. And I think this is also

968
00:45:10,440 --> 00:45:13,120
Speaker 3: dependent on what you're like, the type of buyer that

969
00:45:13,160 --> 00:45:16,680
Speaker 3: you are. If you are young, energetic, you you know,

970
00:45:16,719 --> 00:45:18,200
Speaker 3: I hear this all the time. I want something that

971
00:45:18,239 --> 00:45:20,279
Speaker 3: I can put my DNA on or put my fingerprint on,

972
00:45:20,400 --> 00:45:21,600
Speaker 3: or I want to develop it. I want to I

973
00:45:21,680 --> 00:45:23,600
Speaker 3: want to raw piece of land. So a green light

974
00:45:23,600 --> 00:45:27,720
Speaker 3: could be not a really great listing, maybe a scanned

975
00:45:27,840 --> 00:45:30,800
Speaker 3: image of the map of the property, and you're like, oh, man, okay,

976
00:45:31,440 --> 00:45:33,560
Speaker 3: there's a chance that you know this is a family

977
00:45:33,600 --> 00:45:36,120
Speaker 3: friend that's selling this for them. So I think that

978
00:45:36,160 --> 00:45:38,280
Speaker 3: could be a green light. I think sometimes the crappier

979
00:45:38,280 --> 00:45:40,440
Speaker 3: the listing, the more excited I get as a as

980
00:45:40,440 --> 00:45:44,760
Speaker 3: a shopper. There's some benefits of a really nice listing.

981
00:45:44,880 --> 00:45:46,919
Speaker 3: I mean I would if there was an amazing farm

982
00:45:46,960 --> 00:45:48,319
Speaker 3: that was marketed really well and I was in the

983
00:45:48,320 --> 00:45:50,839
Speaker 3: market and checked off all my green lights, I would

984
00:45:50,840 --> 00:45:52,640
Speaker 3: be excited. But I think that's something that that people

985
00:45:52,640 --> 00:45:56,600
Speaker 3: can get excited about of like ooh, talking about inefficiencies

986
00:45:56,600 --> 00:45:59,400
Speaker 3: in the market, right, this is an inefficiency of marketing

987
00:45:59,440 --> 00:46:01,400
Speaker 3: this property. And if I can go walk it and

988
00:46:01,640 --> 00:46:05,880
Speaker 3: see that you know this this fallow field is actually

989
00:46:06,080 --> 00:46:09,040
Speaker 3: recorded f s a acres and I can get back

990
00:46:09,040 --> 00:46:12,040
Speaker 3: into production no problem, or all these different things. So

991
00:46:12,040 --> 00:46:14,400
Speaker 3: those are some other green lights. Another one is I

992
00:46:14,480 --> 00:46:16,560
Speaker 3: know that farm's in a great neighborhood based off of

993
00:46:16,600 --> 00:46:19,879
Speaker 3: my own knowledge or my agent's own knowledge of yes,

994
00:46:19,960 --> 00:46:24,520
Speaker 3: this isn't a good neighborhood. I think those are some

995
00:46:24,640 --> 00:46:27,279
Speaker 3: other other bigger green lights. I'm trying to think of

996
00:46:27,320 --> 00:46:29,360
Speaker 3: anything more out of the box that would be a green.

997
00:46:29,239 --> 00:46:32,080
Speaker 2: Light before you're While you're doing that, I'd love a

998
00:46:32,080 --> 00:46:34,279
Speaker 2: little bit more thought on the neighborhood thing, because I

999
00:46:34,280 --> 00:46:37,640
Speaker 2: think that's one of those things that like has been

1000
00:46:37,760 --> 00:46:39,440
Speaker 2: drilled home, Like we know we need to be in

1001
00:46:39,440 --> 00:46:43,359
Speaker 2: a good neighborhood. I've learned that myself, and I think

1002
00:46:43,360 --> 00:46:46,239
Speaker 2: it's it's great in practice and it makes a lot

1003
00:46:46,320 --> 00:46:49,239
Speaker 2: of sense, but I think sometimes it's easier said than done.

1004
00:46:49,680 --> 00:46:51,640
Speaker 3: Yeah, have you found.

1005
00:46:51,400 --> 00:46:54,160
Speaker 2: Any tricks to the trade as far as how to

1006
00:46:54,239 --> 00:46:56,359
Speaker 2: get a better assessment on that? If you're not from

1007
00:46:56,400 --> 00:46:59,160
Speaker 2: the area and you don't know these people, and maybe

1008
00:46:59,200 --> 00:47:02,239
Speaker 2: your agent doesn't like know them firsthand, how do you

1009
00:47:02,280 --> 00:47:04,400
Speaker 2: go about getting a feel for man, is this a

1010
00:47:04,400 --> 00:47:06,120
Speaker 2: good situation I'm getting into or is this going to

1011
00:47:06,160 --> 00:47:06,600
Speaker 2: be a mess?

1012
00:47:07,920 --> 00:47:11,360
Speaker 3: I think one thing you could do is walk the

1013
00:47:11,400 --> 00:47:14,520
Speaker 3: property edges of walk the boundaries of the property and

1014
00:47:14,560 --> 00:47:19,400
Speaker 3: see how many stands there are, what type of stands

1015
00:47:19,400 --> 00:47:22,200
Speaker 3: are they. I mean, that sounds really bad, like of

1016
00:47:22,239 --> 00:47:26,239
Speaker 3: profiling another hunter, but it's it's it's kind of the

1017
00:47:26,280 --> 00:47:28,520
Speaker 3: fact of it. Yeah, if they're all double buddy stands

1018
00:47:28,560 --> 00:47:30,719
Speaker 3: ten feet off the ground. They're probably not going to

1019
00:47:30,800 --> 00:47:32,520
Speaker 3: be the best neighbors. I hate to say that, but

1020
00:47:32,760 --> 00:47:34,719
Speaker 3: they might be great people, but if your goals aren't align,

1021
00:47:34,719 --> 00:47:37,480
Speaker 3: they're probably not going to be your best friend, and

1022
00:47:37,600 --> 00:47:38,440
Speaker 3: so go ahead.

1023
00:47:38,560 --> 00:47:40,680
Speaker 2: Well, so that that brings up another question though, So

1024
00:47:40,719 --> 00:47:44,080
Speaker 2: this is something I've debated debated myself, which is would

1025
00:47:44,080 --> 00:47:47,960
Speaker 2: I rather be surrounded by a bunch of not serious

1026
00:47:48,040 --> 00:47:52,239
Speaker 2: hunters who might not have the same goals as me?

1027
00:47:53,719 --> 00:47:56,040
Speaker 2: But like, so the downside of that would be like, Okay,

1028
00:47:56,040 --> 00:47:57,799
Speaker 2: they're gonna shoot every young buck and they're never going

1029
00:47:57,880 --> 00:47:59,880
Speaker 2: to pass on the deer I want to pass. But

1030
00:48:00,160 --> 00:48:02,239
Speaker 2: the upside might be that they're not very good at

1031
00:48:02,280 --> 00:48:04,160
Speaker 2: hunting or that they don't take as serious and I

1032
00:48:04,239 --> 00:48:06,239
Speaker 2: might have a better chance, you know, to kill the

1033
00:48:06,239 --> 00:48:08,759
Speaker 2: one big deer in the area because you know, I

1034
00:48:08,880 --> 00:48:11,040
Speaker 2: put a more time effort. YadA, YadA, YadA. Now the

1035
00:48:11,080 --> 00:48:12,719
Speaker 2: flip side is like, do you want to live in

1036
00:48:12,760 --> 00:48:16,319
Speaker 2: Mark Jury's neighborhood? Where might righte? Mark Jury and Jeff

1037
00:48:16,360 --> 00:48:18,239
Speaker 2: Lindsay and all these guys around there have got the

1038
00:48:18,239 --> 00:48:21,279
Speaker 2: most incredibly managed farms. They're all managing for big deer

1039
00:48:21,320 --> 00:48:23,480
Speaker 2: and they're all really invested in it, right, But the

1040
00:48:23,560 --> 00:48:25,840
Speaker 2: same time, you're surrounded by people that really know what

1041
00:48:25,880 --> 00:48:31,400
Speaker 2: they're doing. What which is better? Like I've kind of done,

1042
00:48:31,960 --> 00:48:34,440
Speaker 2: I've had both. I would I haven't been neighbored with

1043
00:48:34,440 --> 00:48:36,759
Speaker 2: mark jury, but I've been neighbored for someone that is, uh,

1044
00:48:37,200 --> 00:48:41,040
Speaker 2: maybe as serious as that person. Yeah, and it is

1045
00:48:41,080 --> 00:48:44,360
Speaker 2: a little debilitating where you know, if you have a

1046
00:48:44,400 --> 00:48:47,440
Speaker 2: big deer, your odds of killing that deer are very low. Now,

1047
00:48:47,480 --> 00:48:49,400
Speaker 2: the good thing is there's a lot of deer that

1048
00:48:49,440 --> 00:48:51,520
Speaker 2: they probably wouldn't want to shoot that or mature and

1049
00:48:51,600 --> 00:48:54,799
Speaker 2: still make me happy versus I've hunted farm. Further is

1050
00:48:54,920 --> 00:48:58,640
Speaker 2: it's heavily hunted, and I don't spend many time much

1051
00:48:58,640 --> 00:49:00,400
Speaker 2: time on those farms because there's not a deer to

1052
00:49:00,440 --> 00:49:02,080
Speaker 2: the age class that I would like. So I think

1053
00:49:02,080 --> 00:49:04,359
Speaker 2: if you would ask that question in like the early

1054
00:49:04,400 --> 00:49:07,080
Speaker 2: two thousands or nineties, when we didn't have cell cameras,

1055
00:49:07,080 --> 00:49:09,239
Speaker 2: we didn't have all these different tools to make not

1056
00:49:09,360 --> 00:49:12,439
Speaker 2: so serious hunters more proficient to kill like a solid buck,

1057
00:49:12,480 --> 00:49:16,280
Speaker 2: and there's nothing wrong with that, But if your definition

1058
00:49:16,320 --> 00:49:18,000
Speaker 2: of what you want to shoot is, you know, slightly

1059
00:49:18,000 --> 00:49:21,000
Speaker 2: above that solid bucker older than three years old. I

1060
00:49:21,000 --> 00:49:23,279
Speaker 2: think the three year olds have gotten easier to kill

1061
00:49:23,440 --> 00:49:25,359
Speaker 2: with all the tools that are available, so I think

1062
00:49:25,400 --> 00:49:26,200
Speaker 2: that has probably changed.

1063
00:49:26,239 --> 00:49:28,000
Speaker 3: I think i'd rather have I would definitely rather have

1064
00:49:28,080 --> 00:49:30,760
Speaker 3: Mark Curi or someone like that as my neighbor, because

1065
00:49:30,760 --> 00:49:33,359
Speaker 3: I think that there's gonna be it's gonna be a

1066
00:49:33,360 --> 00:49:35,719
Speaker 3: more target rich environment, there's gonna better age class. You

1067
00:49:35,760 --> 00:49:37,840
Speaker 3: know that you're gonna be healthy because they're taking spending

1068
00:49:37,840 --> 00:49:40,640
Speaker 3: a lot of money, leaving a lot of crops, and yeah,

1069
00:49:40,719 --> 00:49:42,759
Speaker 3: will you ever compete with them, Probably not on a

1070
00:49:42,800 --> 00:49:45,160
Speaker 3: smaller parcel, but you kind of get the fringe benefits

1071
00:49:45,160 --> 00:49:49,200
Speaker 3: of what they have going on. Yeah, Versus opening day

1072
00:49:49,200 --> 00:49:51,279
Speaker 3: of gun season and you get cell camp pictures of

1073
00:49:51,280 --> 00:49:52,839
Speaker 3: the deer. You're hoping, oh man, I hope he makes

1074
00:49:52,880 --> 00:49:56,719
Speaker 3: it through, and then the exactly it's like, this is

1075
00:49:56,760 --> 00:49:58,359
Speaker 3: the last picture I ever get of that deer. That's

1076
00:49:58,400 --> 00:50:00,520
Speaker 3: the last picture I ever get of that deer. And

1077
00:50:00,600 --> 00:50:03,399
Speaker 3: to me, that's more frustrating than like, Hey, congratulates, since

1078
00:50:03,400 --> 00:50:05,759
Speaker 3: you shot a giant, you did all the work. I'm

1079
00:50:05,760 --> 00:50:09,279
Speaker 3: really really happy for you. So so to summarize, I'd

1080
00:50:09,360 --> 00:50:11,000
Speaker 3: rather have the super serious name.

1081
00:50:11,080 --> 00:50:15,120
Speaker 2: Yeah, Okay, So were there any other major green lights

1082
00:50:15,320 --> 00:50:17,080
Speaker 2: or kind of under the radar green lights that you

1083
00:50:17,160 --> 00:50:18,400
Speaker 2: wanted to mention or do you want to do you

1084
00:50:18,400 --> 00:50:20,760
Speaker 2: want to move over to some of these red light situations.

1085
00:50:21,120 --> 00:50:23,279
Speaker 3: I think another green light is as you're walking it,

1086
00:50:23,719 --> 00:50:25,960
Speaker 3: seeing the sign and I think that's obviously a good thing,

1087
00:50:26,000 --> 00:50:28,400
Speaker 3: and there's there's actually been a lot of farm for like,

1088
00:50:28,440 --> 00:50:29,920
Speaker 3: I know there was a big deer on that farm

1089
00:50:29,960 --> 00:50:32,120
Speaker 3: just from Hearsay, just from and you walk it and

1090
00:50:32,160 --> 00:50:34,279
Speaker 3: there's not that much sign on it, but you know

1091
00:50:34,320 --> 00:50:35,879
Speaker 3: that deer had spent a lot of time on that farm.

1092
00:50:36,440 --> 00:50:38,239
Speaker 3: And then there's other ones where you walk it and

1093
00:50:38,280 --> 00:50:40,279
Speaker 3: you're like, wow, this is tore up. There's got to

1094
00:50:40,280 --> 00:50:42,120
Speaker 3: be giants on there, and then there isn't. So I

1095
00:50:42,120 --> 00:50:45,400
Speaker 3: think that's something that like, as a if you're ate

1096
00:50:45,480 --> 00:50:47,279
Speaker 3: up enough to save up a bunch of money and

1097
00:50:47,800 --> 00:50:49,960
Speaker 3: you know the bloy capital to buy a farm, you

1098
00:50:50,040 --> 00:50:52,640
Speaker 3: probably have your own spidy sense of white tail hunting.

1099
00:50:53,080 --> 00:50:56,120
Speaker 3: Trust your gut. I think, like, don't trust the agent blindly,

1100
00:50:56,160 --> 00:50:59,400
Speaker 3: don't trust the seller blindly, follow your own gut. I

1101
00:50:59,400 --> 00:51:02,600
Speaker 3: think that's probably just another your own internal green light.

1102
00:51:02,960 --> 00:51:04,440
Speaker 3: But then we can we can talk about red flax.

1103
00:51:04,480 --> 00:51:06,040
Speaker 3: There's quite a few, quite a few of those. Two.

1104
00:51:06,239 --> 00:51:10,120
Speaker 2: Yeah, let's let's let's uh put some reality in front

1105
00:51:10,120 --> 00:51:11,719
Speaker 2: of us here. What are some of those things that

1106
00:51:11,880 --> 00:51:16,600
Speaker 2: should be at least I'm the type of person that

1107
00:51:17,600 --> 00:51:20,319
Speaker 2: when I want something, like when I when I kind

1108
00:51:20,320 --> 00:51:22,560
Speaker 2: of like I could see myself at some point when

1109
00:51:22,560 --> 00:51:24,799
Speaker 2: I'm if I'm gonna do this, and I decide, Okay,

1110
00:51:24,880 --> 00:51:26,440
Speaker 2: now is the time to buy a piece of ground.

1111
00:51:26,840 --> 00:51:29,399
Speaker 2: Once I make that, once I flip that switch, I'm

1112
00:51:29,400 --> 00:51:32,239
Speaker 2: gonna want to fall in love with something and I'm

1113
00:51:32,280 --> 00:51:34,000
Speaker 2: gonna fall in love with it hard and fast, and

1114
00:51:34,040 --> 00:51:36,360
Speaker 2: I'm gonna be like, oh no, this is this is

1115
00:51:36,400 --> 00:51:38,879
Speaker 2: the right neighborhood, this is this is the thing. It's

1116
00:51:38,960 --> 00:51:41,640
Speaker 2: got that sweet little crp field the middle that I've

1117
00:51:41,640 --> 00:51:44,560
Speaker 2: always wanted. Like, I'm sure there's certain buttons that a

1118
00:51:44,600 --> 00:51:48,280
Speaker 2: property could push that would have so much sex appeal

1119
00:51:48,320 --> 00:51:51,200
Speaker 2: to me that I would be willing to like gloss

1120
00:51:51,320 --> 00:51:54,320
Speaker 2: over certain other things because I do you know what

1121
00:51:54,400 --> 00:51:56,840
Speaker 2: I'm getting at, Like, I can see myself falling for

1122
00:51:56,920 --> 00:51:59,600
Speaker 2: that kind of situation. So what are those red lights

1123
00:51:59,600 --> 00:52:02,879
Speaker 2: that that I cannot overlook, that I can't gloss over

1124
00:52:03,040 --> 00:52:04,799
Speaker 2: that I can't you know, they can't put lipstick on

1125
00:52:04,840 --> 00:52:05,920
Speaker 2: this pig kind of situation.

1126
00:52:06,600 --> 00:52:08,719
Speaker 3: Yeah, yeah, you're you're buying the sizzle, not the steak.

1127
00:52:08,840 --> 00:52:11,319
Speaker 3: Is like famous thing there. So I think I think

1128
00:52:11,320 --> 00:52:14,960
Speaker 3: some red some red lights in general, and this this

1129
00:52:15,040 --> 00:52:17,640
Speaker 3: may fall more over under like a beige flag. Right,

1130
00:52:17,719 --> 00:52:20,080
Speaker 3: So we've all done this. So you're looking on land

1131
00:52:20,160 --> 00:52:22,560
Speaker 3: Watch or wherever and you see this price, like, man,

1132
00:52:22,600 --> 00:52:25,319
Speaker 3: this thing is half the price of everything else. Yeah,

1133
00:52:25,440 --> 00:52:27,759
Speaker 3: click it, and they're like, oh, it's in w RP.

1134
00:52:28,040 --> 00:52:30,000
Speaker 3: So it's in the wet end Reserve Program, which means

1135
00:52:30,040 --> 00:52:33,399
Speaker 3: that you're very limited. It's not a bad buy if

1136
00:52:33,600 --> 00:52:36,000
Speaker 3: if your only goal is deer hunting, but you're limited

1137
00:52:36,000 --> 00:52:37,480
Speaker 3: on what you can do yet if you get approval

1138
00:52:37,520 --> 00:52:39,279
Speaker 3: to put you to put in a food pot and

1139
00:52:39,280 --> 00:52:41,759
Speaker 3: all these different things. So that's something that I think

1140
00:52:41,840 --> 00:52:43,880
Speaker 3: is just a general beage flag. Like if something is

1141
00:52:43,960 --> 00:52:48,440
Speaker 3: priced extremely half of market, it's probably in WRP, or

1142
00:52:48,480 --> 00:52:52,360
Speaker 3: it's in CREP, which is an easement that you couldn't

1143
00:52:52,360 --> 00:52:54,240
Speaker 3: build on it, all these different things. So that's something

1144
00:52:54,320 --> 00:52:56,839
Speaker 3: just to consider as a beige beige flag. I think

1145
00:52:57,800 --> 00:53:00,680
Speaker 3: some other red flags. If I walked by and there's fence.

1146
00:53:00,800 --> 00:53:05,880
Speaker 3: There's seventeen tree stands on the fence line. I with

1147
00:53:05,960 --> 00:53:09,040
Speaker 3: most people that are buying forty to eighty acres, you're

1148
00:53:09,080 --> 00:53:10,719
Speaker 3: not gonna win that battle. Man, Like you can do

1149
00:53:10,719 --> 00:53:13,239
Speaker 3: all the TSI, all the food plots in the world,

1150
00:53:13,680 --> 00:53:15,960
Speaker 3: You're gonna be You're gonna be frustrated, I think. And

1151
00:53:16,000 --> 00:53:17,600
Speaker 3: that's not what you want, right Like, you want to

1152
00:53:17,600 --> 00:53:19,320
Speaker 3: buy this and be happy. There's gonna be ups and

1153
00:53:19,400 --> 00:53:22,040
Speaker 3: downs just like anything, but you're probably not gonna be happy.

1154
00:53:22,080 --> 00:53:23,960
Speaker 3: So that's a that's a pretty pretty big red flag.

1155
00:53:24,280 --> 00:53:28,600
Speaker 3: I think some other ones that are you kind of

1156
00:53:28,600 --> 00:53:31,160
Speaker 3: have to get a trained die, like if it has

1157
00:53:31,200 --> 00:53:34,480
Speaker 3: epa risk, like there's been a couple run ins there

1158
00:53:34,480 --> 00:53:36,960
Speaker 3: where it's like this is probably too good to be true,

1159
00:53:37,280 --> 00:53:40,879
Speaker 3: or there's probably more more to the story here, and

1160
00:53:41,320 --> 00:53:43,600
Speaker 3: that's something else to consider. So how would you know?

1161
00:53:46,360 --> 00:53:49,479
Speaker 3: It's my gut feeling, what's one of them? I walked.

1162
00:53:49,520 --> 00:53:50,960
Speaker 3: I walked one farm, which I talked about on the

1163
00:53:51,000 --> 00:53:53,080
Speaker 3: Land podcast, but basically this farm came up and it

1164
00:53:53,120 --> 00:53:54,920
Speaker 3: was pretty close to me, and I went and walked it,

1165
00:53:55,600 --> 00:53:58,680
Speaker 3: and uh, it was really weird. This felt, Yeah, some

1166
00:53:58,680 --> 00:54:00,920
Speaker 3: some feels off, like on the some of the hillside

1167
00:54:00,920 --> 00:54:02,880
Speaker 3: there was really old growth, and up top it was

1168
00:54:02,920 --> 00:54:05,560
Speaker 3: all really younger growth, like thirty forty year old trees,

1169
00:54:05,680 --> 00:54:08,520
Speaker 3: the trees that are typically there when there's been disturbance.

1170
00:54:08,960 --> 00:54:13,040
Speaker 3: This top knob was all switch grass, which is clearly okay.

1171
00:54:13,080 --> 00:54:15,000
Speaker 3: This was some sort of remediation. It ended up being

1172
00:54:15,120 --> 00:54:19,200
Speaker 3: an old area where the soil was contaminating, and so

1173
00:54:19,480 --> 00:54:20,839
Speaker 3: now granted you could have bought it and still would

1174
00:54:20,840 --> 00:54:22,799
Speaker 3: have been okay, but that was something I didn't want

1175
00:54:22,800 --> 00:54:26,200
Speaker 3: to do it. There was another, more recently, a really

1176
00:54:26,560 --> 00:54:29,840
Speaker 3: sweet farm, really sweet farm. Client text me about it.

1177
00:54:29,840 --> 00:54:31,279
Speaker 3: I'm like, oh, we need to go look at it.

1178
00:54:32,040 --> 00:54:35,160
Speaker 3: And it's next to a place where they used to

1179
00:54:35,200 --> 00:54:37,879
Speaker 3: make explosives. And then you start doing some due dilts,

1180
00:54:37,960 --> 00:54:39,560
Speaker 3: you do some googling, and you're like, oh, there might

1181
00:54:39,600 --> 00:54:41,799
Speaker 3: be some EPA issues here, and so like that's something

1182
00:54:41,800 --> 00:54:43,239
Speaker 3: you don't want to mess with. I mean to me, like,

1183
00:54:43,280 --> 00:54:45,880
Speaker 3: there's a lot of upside reward if everything's good, but

1184
00:54:45,920 --> 00:54:49,360
Speaker 3: there's also if this is your first farm, probably suggests

1185
00:54:49,360 --> 00:54:52,120
Speaker 3: you to avoid that. There was one that I went

1186
00:54:52,200 --> 00:54:54,160
Speaker 3: looked at it. It was an old it was an

1187
00:54:54,200 --> 00:54:57,879
Speaker 3: old landfill, and I was like, oh, sweet thousand bucks

1188
00:54:57,920 --> 00:54:59,840
Speaker 3: an acre and you go walk in and then you

1189
00:54:59,880 --> 00:55:02,920
Speaker 3: do some due diligence, you call the EPA off it's like, yeah,

1190
00:55:03,000 --> 00:55:04,880
Speaker 3: it's not in compliance, and there could be a million

1191
00:55:04,920 --> 00:55:07,920
Speaker 3: dollars of remediation. You get it up the code and

1192
00:55:08,000 --> 00:55:09,719
Speaker 3: trying like okay, well that's not it. And then so

1193
00:55:09,800 --> 00:55:11,200
Speaker 3: like what people would do is they would just buy

1194
00:55:11,239 --> 00:55:14,680
Speaker 3: it in different LLCs and like do some sort of

1195
00:55:14,760 --> 00:55:17,120
Speaker 3: shell like it was someone bought it and they let

1196
00:55:17,120 --> 00:55:18,920
Speaker 3: it go to a tax sale and then someone else

1197
00:55:18,960 --> 00:55:20,600
Speaker 3: bought it and then they resold it. So those are

1198
00:55:20,600 --> 00:55:22,920
Speaker 3: like some really kind of more I would say advanced

1199
00:55:22,960 --> 00:55:24,239
Speaker 3: red flags. I think most people will be able to

1200
00:55:24,239 --> 00:55:26,760
Speaker 3: catch on to that, no problem. But I think another

1201
00:55:26,840 --> 00:55:32,120
Speaker 3: thing is access for sure. I think one one red

1202
00:55:32,160 --> 00:55:34,960
Speaker 3: flag is a lot of farms sometimes gets split up

1203
00:55:35,480 --> 00:55:37,680
Speaker 3: and the tillable gets sold, and then you have one long,

1204
00:55:37,800 --> 00:55:40,080
Speaker 3: skinny access point all the way through there. So in

1205
00:55:40,120 --> 00:55:42,359
Speaker 3: the morning you're gonna scare deer walking in. In the evening,

1206
00:55:42,400 --> 00:55:44,640
Speaker 3: you're gonna scare deer walking out. And unless you have

1207
00:55:44,680 --> 00:55:47,120
Speaker 3: a really good plan for screening your access, that's a

1208
00:55:47,160 --> 00:55:50,040
Speaker 3: battle that I'm not sure if you can really win.

1209
00:55:51,640 --> 00:55:54,839
Speaker 3: So I think that's that's another really big one. And

1210
00:55:56,960 --> 00:55:59,000
Speaker 3: I look, I love looking at farms like I geek

1211
00:55:59,040 --> 00:56:03,560
Speaker 3: out look at all the time online shopping. Yeah, for sure.

1212
00:56:03,600 --> 00:56:06,960
Speaker 3: And so I think another like more red flag is

1213
00:56:07,800 --> 00:56:11,720
Speaker 3: typically these are in all caps mature trees, giant bucks,

1214
00:56:11,840 --> 00:56:17,799
Speaker 3: turnkey and you know, okay, there's maybe mature trees, but

1215
00:56:17,840 --> 00:56:22,319
Speaker 3: are they cottonwoods or is there really giant bucks because

1216
00:56:22,320 --> 00:56:23,680
Speaker 3: what you might call giant buck and what I call

1217
00:56:23,719 --> 00:56:27,440
Speaker 3: giant buck might be two completely different things. Or turnkey

1218
00:56:27,520 --> 00:56:29,359
Speaker 3: is another big one too. It's like, so what makes

1219
00:56:29,400 --> 00:56:31,399
Speaker 3: it truly turn key? Because they put in a clover

1220
00:56:31,480 --> 00:56:35,360
Speaker 3: plot in a box line, or because like there's a

1221
00:56:35,400 --> 00:56:36,920
Speaker 3: million things you can do to your farm, right like

1222
00:56:37,280 --> 00:56:40,120
Speaker 3: quite literally maybe a million, And so like if it's

1223
00:56:40,120 --> 00:56:41,960
Speaker 3: just two or three things, is it really turn key?

1224
00:56:42,000 --> 00:56:45,040
Speaker 3: And are you paying a premium for a non premium property?

1225
00:56:45,320 --> 00:56:48,000
Speaker 3: And I think this is another potential red flag is

1226
00:56:48,480 --> 00:56:51,440
Speaker 3: like people talk about a fliphouse, or they talk about

1227
00:56:52,120 --> 00:56:56,640
Speaker 3: like the the landlord painting the outlets white, like everything

1228
00:56:56,719 --> 00:56:59,000
Speaker 3: is just white. Don't buy a farm that was this

1229
00:56:59,080 --> 00:57:02,120
Speaker 3: painted white completely everywhere with really bright lights to make

1230
00:57:02,160 --> 00:57:04,759
Speaker 3: it look awesome. So I think those are kind of

1231
00:57:06,239 --> 00:57:08,759
Speaker 3: they're red flags. But if the if it's price right,

1232
00:57:08,840 --> 00:57:11,000
Speaker 3: like I would buy anything or encourage you. I want

1233
00:57:11,000 --> 00:57:12,560
Speaker 3: to buy anything if it's price right. So I think

1234
00:57:12,560 --> 00:57:15,520
Speaker 3: that's like what is the farm and how does it

1235
00:57:15,560 --> 00:57:19,000
Speaker 3: really fit into the market and is it fair? And

1236
00:57:19,080 --> 00:57:21,680
Speaker 3: so that's the easiest way to say that, But it's

1237
00:57:21,760 --> 00:57:24,760
Speaker 3: kind of dynamic. But those are some general some general

1238
00:57:24,800 --> 00:57:26,720
Speaker 3: red flags. Or in some parts of the country, if

1239
00:57:26,720 --> 00:57:28,640
Speaker 3: there's an oil rig on it in the heart of

1240
00:57:28,680 --> 00:57:30,120
Speaker 3: the farm and they got a drive in there every

1241
00:57:30,160 --> 00:57:32,400
Speaker 3: single day, in and out, like you canna be happy

1242
00:57:32,400 --> 00:57:37,400
Speaker 3: with that, right? So yeah, there's wind turbines, Yeah, yeah, Yeah.

1243
00:57:37,560 --> 00:57:39,280
Speaker 3: I on a farm that had a wind turbine on

1244
00:57:39,320 --> 00:57:42,720
Speaker 3: it and it was just all day. Did you go

1245
00:57:42,800 --> 00:57:44,480
Speaker 3: to sleep and you still hear it? Yeah?

1246
00:57:44,560 --> 00:57:47,120
Speaker 2: Did you find did you ever have issues with like

1247
00:57:47,720 --> 00:57:49,760
Speaker 2: you know, folks coming in checking on those that the

1248
00:57:49,840 --> 00:57:53,760
Speaker 2: utility trucks and stuff, or I always wondered, I've had

1249
00:57:53,760 --> 00:57:55,000
Speaker 2: a bunch of those put up in some of the

1250
00:57:55,080 --> 00:57:57,400
Speaker 2: areas that I hunt, and I've wondered, like, gosh, what

1251
00:57:57,440 --> 00:57:58,320
Speaker 2: if that happens to one of the.

1252
00:57:58,320 --> 00:57:59,960
Speaker 3: Pieces that I hunt. Well, the dear.

1253
00:58:00,400 --> 00:58:02,280
Speaker 2: I imagine the deer get used to it to a degree,

1254
00:58:02,360 --> 00:58:04,360
Speaker 2: but I could also see like every time they come

1255
00:58:04,400 --> 00:58:07,040
Speaker 2: in that buck will jump back eighty yards. And how

1256
00:58:07,080 --> 00:58:08,280
Speaker 2: many hunts might that mess up?

1257
00:58:08,320 --> 00:58:11,040
Speaker 3: You know? Have you experienced it? I hunted a couple

1258
00:58:11,080 --> 00:58:13,640
Speaker 3: of times. I'm like, I'm over this place because it

1259
00:58:13,840 --> 00:58:16,200
Speaker 3: it didn't have the It didn't it wasn't you know.

1260
00:58:16,240 --> 00:58:18,360
Speaker 3: Like I'm a big advocate of like we only have

1261
00:58:18,560 --> 00:58:20,680
Speaker 3: so many days in November, so many days in October,

1262
00:58:20,760 --> 00:58:22,160
Speaker 3: and if I don't feel really good about it, I

1263
00:58:22,160 --> 00:58:25,000
Speaker 3: don't want to spend time there. Ye, So yeah, I

1264
00:58:25,000 --> 00:58:26,560
Speaker 3: think that. But here's the thing. So it's like this

1265
00:58:26,600 --> 00:58:29,480
Speaker 3: is this goes back to the investment versus hunting. What

1266
00:58:29,520 --> 00:58:31,000
Speaker 3: if you buy that and you get a letter from

1267
00:58:31,000 --> 00:58:32,440
Speaker 3: a windmill company and say, hey, we're gonna pay you

1268
00:58:32,480 --> 00:58:34,800
Speaker 3: fifteen thousand dollars a year, we're gonna put up a windmill.

1269
00:58:35,280 --> 00:58:37,240
Speaker 3: The if it's the investment version of you, you're going

1270
00:58:37,280 --> 00:58:39,200
Speaker 3: to say, yeah, put that thing up tomorrow. But if

1271
00:58:39,200 --> 00:58:41,280
Speaker 3: it's truly a hunting parcel, you're there to say, I

1272
00:58:41,320 --> 00:58:43,080
Speaker 3: don't think so, but it is a lot of money,

1273
00:58:43,080 --> 00:58:46,120
Speaker 3: and I you know, so that's why all this is

1274
00:58:46,120 --> 00:58:50,080
Speaker 3: so personalized. It It truly is, and that's what makes

1275
00:58:50,080 --> 00:58:50,400
Speaker 3: it fun.

1276
00:58:50,440 --> 00:58:54,120
Speaker 2: But yeah, so so I hate going back to the

1277
00:58:54,120 --> 00:58:55,880
Speaker 2: financial side of things because we spend a lot of

1278
00:58:55,920 --> 00:58:57,720
Speaker 2: time on that in the front end. But it's it's

1279
00:58:57,760 --> 00:59:00,880
Speaker 2: such a it runs through so much of this conversation,

1280
00:59:00,960 --> 00:59:04,000
Speaker 2: I guess because when you're mentioning like that turnkey property,

1281
00:59:04,000 --> 00:59:06,040
Speaker 2: that's something I've seen a lot when I've done my

1282
00:59:06,160 --> 00:59:09,080
Speaker 2: looking and stuff. You'll see this property that they're on

1283
00:59:09,160 --> 00:59:11,240
Speaker 2: the listing. They've got trail camera pictures of the Big

1284
00:59:11,280 --> 00:59:13,880
Speaker 2: Bucks and they said they put food plots in their

1285
00:59:14,000 --> 00:59:16,480
Speaker 2: stands up there, and like usually those pieces like I'm

1286
00:59:16,520 --> 00:59:18,200
Speaker 2: just I don't even want to look at them because

1287
00:59:18,240 --> 00:59:21,720
Speaker 2: I'm just assuming like it's they've already marked it up

1288
00:59:21,760 --> 00:59:23,920
Speaker 2: the way I would want to mark it up someday. Right, Like,

1289
00:59:24,040 --> 00:59:25,480
Speaker 2: if I were ever going to buy a property, it

1290
00:59:25,480 --> 00:59:29,000
Speaker 2: would be to start small, do the work, and then

1291
00:59:29,040 --> 00:59:31,080
Speaker 2: I can flip it and make money off of because

1292
00:59:31,120 --> 00:59:34,600
Speaker 2: I would do all that stuff myself and market it, YadA, YadA, YadA.

1293
00:59:34,640 --> 00:59:36,800
Speaker 2: When I've seen that somebody else does that, I'm assuming

1294
00:59:36,840 --> 00:59:39,160
Speaker 2: it's probably overpriced and I'm not going to have like

1295
00:59:39,200 --> 00:59:42,160
Speaker 2: that margin that I was hoping to gain myself by

1296
00:59:42,160 --> 00:59:46,280
Speaker 2: buying it, improving it, and selling it. So my question

1297
00:59:46,440 --> 00:59:50,840
Speaker 2: is like, how do you how do you how do

1298
00:59:50,880 --> 00:59:53,000
Speaker 2: you go about figuring out what is a fair price?

1299
00:59:53,200 --> 00:59:55,200
Speaker 2: And if I'm trying to do what I just described,

1300
00:59:55,200 --> 00:59:57,480
Speaker 2: which is I want to buy something that has opportunity

1301
00:59:57,520 --> 01:00:02,200
Speaker 2: for investment growth by sweat equity and whatever, how do

1302
01:00:02,280 --> 01:00:04,600
Speaker 2: I pick the right property for that kind of thing?

1303
01:00:04,680 --> 01:00:07,800
Speaker 2: I mean, I'm assuming you're ideally looking for an undervalued

1304
01:00:07,800 --> 01:00:10,400
Speaker 2: property with a lot of potential, But how do you

1305
01:00:10,600 --> 01:00:13,400
Speaker 2: how do you find that kind of thing? And is

1306
01:00:13,400 --> 01:00:17,920
Speaker 2: there anything unique in the search process compared to what

1307
01:00:17,920 --> 01:00:19,080
Speaker 2: you've been describing already.

1308
01:00:20,360 --> 01:00:22,000
Speaker 3: Yeah, I think that's a great point because I think

1309
01:00:22,080 --> 01:00:23,880
Speaker 3: that's the majority of people, is they want to buy

1310
01:00:23,920 --> 01:00:25,960
Speaker 3: something that is rough and make it quote unquote turnkey

1311
01:00:26,000 --> 01:00:27,720
Speaker 3: whatever that is to them when they go to sell it.

1312
01:00:29,000 --> 01:00:33,840
Speaker 3: And so a lot of is this patience in searching

1313
01:00:33,880 --> 01:00:36,400
Speaker 3: A lot I think is the best way to say that.

1314
01:00:36,480 --> 01:00:41,280
Speaker 3: And I think that if you're a guy that for

1315
01:00:41,360 --> 01:00:43,000
Speaker 3: sure to say, hey I want to I want to.

1316
01:00:43,320 --> 01:00:45,640
Speaker 3: But here's the thing, like every even even those turnkey farms,

1317
01:00:45,640 --> 01:00:47,240
Speaker 3: like there's still so much stuff that can be done.

1318
01:00:47,320 --> 01:00:51,560
Speaker 3: That is potential value add right, Like there's if they

1319
01:00:51,560 --> 01:00:54,200
Speaker 3: did two of the two of the million things, well

1320
01:00:54,200 --> 01:00:56,760
Speaker 3: there's still nine hundred and ninety hit whatever things to do.

1321
01:00:56,800 --> 01:00:59,240
Speaker 3: So I think the biggest thing is like figuring out, okay,

1322
01:00:59,360 --> 01:01:05,280
Speaker 3: the average parcels are selling for this, and because everyone

1323
01:01:05,320 --> 01:01:08,200
Speaker 3: thinks that, there's a lot of assumptions in the world

1324
01:01:08,280 --> 01:01:09,960
Speaker 3: of land, right like you hear people like, oh he

1325
01:01:09,960 --> 01:01:13,200
Speaker 3: bought it, he just doubled his money. That doesn't really happen,

1326
01:01:14,400 --> 01:01:18,120
Speaker 3: So I think for overall, so I think the biggest

1327
01:01:18,120 --> 01:01:21,720
Speaker 3: thing is seeing if okay, if the average price is

1328
01:01:21,720 --> 01:01:24,040
Speaker 3: four thousand and he's asking forty one hundred and he

1329
01:01:24,080 --> 01:01:26,400
Speaker 3: has ten thousand dollars worth of box blinds on there,

1330
01:01:26,440 --> 01:01:29,439
Speaker 3: well maybe that actually pencils out to a fair price

1331
01:01:29,440 --> 01:01:32,880
Speaker 3: for forty one hundred, and you could still like do

1332
01:01:33,080 --> 01:01:35,240
Speaker 3: value add I had Pat Porter on the Land podcast.

1333
01:01:35,360 --> 01:01:37,439
Speaker 3: He's written books about real estate. I bought a bunch

1334
01:01:37,480 --> 01:01:39,600
Speaker 3: of them and they're very quick reads, and I like

1335
01:01:39,720 --> 01:01:42,480
Speaker 3: him a lot. And he said people don't have imagination.

1336
01:01:42,600 --> 01:01:45,680
Speaker 3: Take the imagination out like so do the work. And

1337
01:01:45,720 --> 01:01:47,560
Speaker 3: I think that is why a lot of those properties

1338
01:01:47,640 --> 01:01:50,480
Speaker 3: do go well because someone buys their first piece of ground,

1339
01:01:50,480 --> 01:01:52,040
Speaker 3: they maybe they never put in a food water, maybe

1340
01:01:52,040 --> 01:01:54,040
Speaker 3: they've never put up a blind. And so I think

1341
01:01:54,160 --> 01:01:56,760
Speaker 3: if that was me and I'm trying to do this, yeah,

1342
01:01:56,800 --> 01:01:59,840
Speaker 3: it's to quote unquote turn key, But what could I

1343
01:01:59,880 --> 01:02:02,280
Speaker 3: do that I can see in my own eyeballs to

1344
01:02:02,840 --> 01:02:05,400
Speaker 3: take the imagination away for the next person and do

1345
01:02:05,480 --> 01:02:08,240
Speaker 3: those things that truly add value to the property. And

1346
01:02:08,280 --> 01:02:10,200
Speaker 3: so I think that's the best way to do. But

1347
01:02:10,280 --> 01:02:12,040
Speaker 3: in terms of like figuring out the best way to

1348
01:02:12,080 --> 01:02:14,880
Speaker 3: find a raw arm, it's patience. I mean, that's just

1349
01:02:14,920 --> 01:02:17,200
Speaker 3: the reality of its patience. And I think going back

1350
01:02:17,240 --> 01:02:19,880
Speaker 3: to like the green lights and red lights, I think

1351
01:02:21,840 --> 01:02:23,880
Speaker 3: a potential red light would be a farm that's been

1352
01:02:23,920 --> 01:02:26,560
Speaker 3: on the market for a very long time, right, But

1353
01:02:26,680 --> 01:02:29,000
Speaker 3: it could be a potential green light if they have

1354
01:02:29,080 --> 01:02:31,120
Speaker 3: newfound motivation because it's sat on the market for a

1355
01:02:31,160 --> 01:02:32,920
Speaker 3: year and nothing happened to it. And so I think

1356
01:02:32,960 --> 01:02:34,600
Speaker 3: that's just the weird balance of all of that too.

1357
01:02:34,680 --> 01:02:37,040
Speaker 3: It's like, well, you know, you thought it was worth this.

1358
01:02:37,280 --> 01:02:39,400
Speaker 3: If it was worth that, I would have sold. Would

1359
01:02:39,480 --> 01:02:43,560
Speaker 3: you consider this? And so that's the dynamic fun thing

1360
01:02:43,560 --> 01:02:47,320
Speaker 3: about real estate. So yeah, trust me because everyone wants

1361
01:02:47,320 --> 01:02:51,200
Speaker 3: to find a raw farm. They're becoming less and less

1362
01:02:50,480 --> 01:02:54,680
Speaker 3: like talking about the efficiencies of the market, like we

1363
01:02:54,800 --> 01:02:57,520
Speaker 3: are becoming very efficient. Like people are becoming so well

1364
01:02:57,600 --> 01:03:00,000
Speaker 3: educated when it comes to buying land, like the access,

1365
01:03:00,120 --> 01:03:01,600
Speaker 3: Like I've talked to a lot of people this year,

1366
01:03:01,600 --> 01:03:03,600
Speaker 3: like I only want this type of sided access on

1367
01:03:03,640 --> 01:03:06,080
Speaker 3: this farm, and I won't look at anything else. And

1368
01:03:06,160 --> 01:03:08,400
Speaker 3: so back in the day, that wasn't even a thing.

1369
01:03:08,440 --> 01:03:10,480
Speaker 3: Did I have big deer and could I put in

1370
01:03:10,480 --> 01:03:12,480
Speaker 3: a food plot? Yes, yes, Okay, I want to buy it.

1371
01:03:12,520 --> 01:03:14,720
Speaker 3: And so I think that's just like we as hunters,

1372
01:03:14,720 --> 01:03:18,000
Speaker 3: we as consumers continue to evolve and change what something

1373
01:03:18,040 --> 01:03:20,480
Speaker 3: could be worth based off of what could be produced

1374
01:03:20,480 --> 01:03:22,800
Speaker 3: on the ground. And that even includes solar panels. Like

1375
01:03:22,840 --> 01:03:25,160
Speaker 3: ten years ago, who cares it would have been a

1376
01:03:25,240 --> 01:03:28,160
Speaker 3: drawback if there was a big power line running nearby, right, Like,

1377
01:03:28,240 --> 01:03:30,400
Speaker 3: oh I don't like that. Now it's a potential huge

1378
01:03:30,480 --> 01:03:34,720
Speaker 3: value add So I think that's just that's the awesomeness

1379
01:03:34,800 --> 01:03:39,520
Speaker 3: of land is just it's it's like some people like

1380
01:03:39,520 --> 01:03:41,320
Speaker 3: shed hunting, right, people are eight up with shed hunting.

1381
01:03:42,000 --> 01:03:44,920
Speaker 3: I like land hunting. That's that's what I like I

1382
01:03:45,000 --> 01:03:48,800
Speaker 3: like looking for that eighty inch side like hypothetically as

1383
01:03:48,800 --> 01:03:50,880
Speaker 3: a farm, because I think that's like, that's what makes

1384
01:03:50,920 --> 01:03:53,240
Speaker 3: me excited, Like going walking a farm that you have

1385
01:03:53,440 --> 01:03:55,080
Speaker 3: you looked at online and you're like, oh, I didn't

1386
01:03:55,120 --> 01:03:56,800
Speaker 3: see this, or oh this wasn't on the listing, or

1387
01:03:56,800 --> 01:03:58,320
Speaker 3: I didn't know there was a creak through here, or

1388
01:04:00,000 --> 01:04:01,640
Speaker 3: so that's just the best way to look at It's like,

1389
01:04:01,800 --> 01:04:05,160
Speaker 3: look at it with an inquisitive mind and ask yourself

1390
01:04:05,200 --> 01:04:07,480
Speaker 3: as many questions until you think you have enough answers

1391
01:04:07,600 --> 01:04:08,640
Speaker 3: and vision.

1392
01:04:09,160 --> 01:04:11,120
Speaker 2: If I want to if I want to do the

1393
01:04:11,280 --> 01:04:14,120
Speaker 2: buy something and fix it up, sell it by a

1394
01:04:14,160 --> 01:04:17,320
Speaker 2: bigger farm, you know, if that's my dream, that's what

1395
01:04:17,320 --> 01:04:18,600
Speaker 2: I'm trying to do. I want to work my way

1396
01:04:18,640 --> 01:04:20,240
Speaker 2: up to having one hundred and forty acres soon to

1397
01:04:20,280 --> 01:04:25,640
Speaker 2: start with thirty. Is there any kind of rule or

1398
01:04:25,680 --> 01:04:28,560
Speaker 2: best practice as far as like what kind of delta

1399
01:04:29,040 --> 01:04:32,120
Speaker 2: or like how below market value do you want to

1400
01:04:32,160 --> 01:04:35,080
Speaker 2: try to find a farm in order to be able

1401
01:04:35,120 --> 01:04:39,240
Speaker 2: to see an investment. I'm having a hard time describe

1402
01:04:39,240 --> 01:04:42,040
Speaker 2: what I'm trying to say here, Jake. Basically like knowing like, hey,

1403
01:04:42,080 --> 01:04:43,440
Speaker 2: I want to be able to flip this thing in

1404
01:04:43,760 --> 01:04:46,640
Speaker 2: a couple of years and make some money off of it.

1405
01:04:47,480 --> 01:04:50,960
Speaker 2: How much under what everything else is going for? Do

1406
01:04:51,040 --> 01:04:53,360
Speaker 2: I need to look for to define this as like, okay,

1407
01:04:53,400 --> 01:04:55,800
Speaker 2: this is an undervalue properly that gives it Like if

1408
01:04:55,800 --> 01:04:58,160
Speaker 2: the going rates five thousand bucks an acre, would a

1409
01:04:58,160 --> 01:05:00,600
Speaker 2: forty five hundred dollars acre property be something that would

1410
01:05:00,600 --> 01:05:02,720
Speaker 2: be worth buying because I can bump it up and

1411
01:05:02,720 --> 01:05:04,360
Speaker 2: fix it up and then sell it for fifty five

1412
01:05:04,440 --> 01:05:06,160
Speaker 2: Or am I looking for something that's like two thousand

1413
01:05:06,240 --> 01:05:09,160
Speaker 2: dollars less than everything else? Like what's Yeah, if you

1414
01:05:09,200 --> 01:05:12,120
Speaker 2: can find one that's two hundred dollars two thousand dollars

1415
01:05:12,160 --> 01:05:14,880
Speaker 2: an acre below market, then definitely buy that, no doubts

1416
01:05:14,920 --> 01:05:18,640
Speaker 2: about it, because hardly exists anymore. I mean I think, yeah,

1417
01:05:18,640 --> 01:05:21,400
Speaker 2: I think the maybe something I think even like I said,

1418
01:05:21,400 --> 01:05:24,160
Speaker 2: at a fair price, because people don't have the vision,

1419
01:05:24,200 --> 01:05:25,880
Speaker 2: they can't see what you could do to it to

1420
01:05:25,920 --> 01:05:28,120
Speaker 2: get it to a five thousand dollars an acre piece

1421
01:05:28,120 --> 01:05:30,200
Speaker 2: to six thousand dollars an acre if you do this,

1422
01:05:30,200 --> 01:05:31,640
Speaker 2: this and this, So I think that's one way to

1423
01:05:31,640 --> 01:05:33,600
Speaker 2: look at it. I think the other one is if

1424
01:05:33,640 --> 01:05:37,040
Speaker 2: you could find something that is I mean, honestly, like

1425
01:05:37,080 --> 01:05:40,360
Speaker 2: ten percent of market I think is pretty something to

1426
01:05:40,360 --> 01:05:41,560
Speaker 2: get a little bit excited about.

1427
01:05:42,360 --> 01:05:45,640
Speaker 3: And so, but that's looking in the rearview mir where

1428
01:05:45,640 --> 01:05:47,240
Speaker 3: the market has been, where is it going to be

1429
01:05:47,240 --> 01:05:50,400
Speaker 3: in the future. And so I think that's a general

1430
01:05:50,400 --> 01:05:51,840
Speaker 3: with them, like if you can find something for a

1431
01:05:51,880 --> 01:05:53,920
Speaker 3: fair price that checks off, you know, within two hours,

1432
01:05:53,920 --> 01:05:56,160
Speaker 3: and you have value adding all these different things, then

1433
01:05:56,240 --> 01:05:58,040
Speaker 3: that's good too. I Mean there's clients that have helped

1434
01:05:58,040 --> 01:06:01,680
Speaker 3: that bought things at what felt like maybe a touch

1435
01:06:01,720 --> 01:06:04,000
Speaker 3: above fair, but time has been on their side and

1436
01:06:04,000 --> 01:06:05,440
Speaker 3: the market was on their favor and they did really

1437
01:06:05,480 --> 01:06:09,600
Speaker 3: well with those. And so I truly believe that the

1438
01:06:09,680 --> 01:06:14,040
Speaker 3: biggest bottleneck to land ownership is paralysis by analysis, because

1439
01:06:14,040 --> 01:06:15,640
Speaker 3: like we've just been talking this whole time, and I

1440
01:06:15,680 --> 01:06:18,320
Speaker 3: feel like I probably haven't educated you anymore to get

1441
01:06:18,360 --> 01:06:21,320
Speaker 3: you excited to do it when we started, because it's

1442
01:06:21,880 --> 01:06:25,960
Speaker 3: it's like though it's people are their own people getting

1443
01:06:25,960 --> 01:06:27,720
Speaker 3: their own way of success. I really believe that, like

1444
01:06:27,920 --> 01:06:30,800
Speaker 3: they'll it's not the farm isn't perfect enough, Like you're

1445
01:06:30,800 --> 01:06:32,600
Speaker 3: not gonna find a perfect farm, especially if it's your

1446
01:06:32,600 --> 01:06:35,480
Speaker 3: first one. By the farm, learn what you can make

1447
01:06:35,520 --> 01:06:39,040
Speaker 3: some mistakes, have comfort and making mistakes because that means

1448
01:06:39,040 --> 01:06:41,800
Speaker 3: you're growing. I think it's the same thing for a

1449
01:06:41,840 --> 01:06:44,000
Speaker 3: deer hunter. They're like, I don't know he's on the farm,

1450
01:06:44,000 --> 01:06:45,120
Speaker 3: I don't know if I need to go in, or

1451
01:06:45,120 --> 01:06:47,120
Speaker 3: I don't know how to do this, versus like just

1452
01:06:47,160 --> 01:06:49,040
Speaker 3: go try and you're gonna learn something and get better

1453
01:06:49,080 --> 01:06:51,480
Speaker 3: next time. And I think land follows that same thing.

1454
01:06:51,760 --> 01:06:53,360
Speaker 3: So one of the things that I feel like a

1455
01:06:53,360 --> 01:06:55,640
Speaker 3: lot of folks worry about is like if I sink

1456
01:06:55,720 --> 01:07:00,280
Speaker 3: my savings into this farm and it's not perfect, if

1457
01:07:00,280 --> 01:07:02,600
Speaker 3: the thing I was worried about ends up being the

1458
01:07:02,720 --> 01:07:04,400
Speaker 3: case and it's not as good as I thought it

1459
01:07:04,440 --> 01:07:06,880
Speaker 3: was going to be, or there's a bad neighbor, or

1460
01:07:07,120 --> 01:07:09,040
Speaker 3: there's not a bunch of big deer, whatever it is.

1461
01:07:10,560 --> 01:07:12,960
Speaker 2: How hard is it to offload a property like that? Like,

1462
01:07:13,000 --> 01:07:16,080
Speaker 2: are you stuck if there's a red flag like that

1463
01:07:16,080 --> 01:07:18,920
Speaker 2: that you discover? Or is there so much demand these

1464
01:07:19,000 --> 01:07:22,400
Speaker 2: days that even those properties that aren't perfect, there'll be

1465
01:07:22,440 --> 01:07:25,120
Speaker 2: someone who is willing to take a flyer and give

1466
01:07:25,160 --> 01:07:26,000
Speaker 2: it a shot.

1467
01:07:26,240 --> 01:07:28,400
Speaker 3: Yeah. I think there's still way more buyers than our

1468
01:07:28,480 --> 01:07:30,520
Speaker 3: sellers in the market right now, So I think you

1469
01:07:30,600 --> 01:07:34,440
Speaker 3: have some level of protection for something like that, and

1470
01:07:34,480 --> 01:07:36,240
Speaker 3: then once again, it kind of goes back to the

1471
01:07:36,760 --> 01:07:38,280
Speaker 3: maybe you thought it was going to be an awesome

1472
01:07:38,280 --> 01:07:41,320
Speaker 3: deer hunting spot and it's twenty acres, but maybe it's

1473
01:07:41,320 --> 01:07:43,560
Speaker 3: a really nice place to build a house and have

1474
01:07:43,600 --> 01:07:45,440
Speaker 3: some pasture out back. So like that's the thing, Like

1475
01:07:45,720 --> 01:07:49,040
Speaker 3: we are so dear focused that we often forget the

1476
01:07:49,080 --> 01:07:52,200
Speaker 3: guy that wants honeybees and it's away from ag and

1477
01:07:52,240 --> 01:07:54,280
Speaker 3: he can have his honey bees out back. So those

1478
01:07:54,280 --> 01:07:55,880
Speaker 3: are just some different things. Or maybe it could be

1479
01:07:55,920 --> 01:07:58,120
Speaker 3: an orchard or you know, there's so many different land

1480
01:07:58,240 --> 01:08:01,200
Speaker 3: uses and potential there. So just because there's a bunch

1481
01:08:01,200 --> 01:08:03,440
Speaker 3: of neighbors there and you want to run cattle or

1482
01:08:03,440 --> 01:08:05,560
Speaker 3: have horses and that's not going to impact them. So

1483
01:08:06,080 --> 01:08:10,360
Speaker 3: I think it's definitely a valid concern, right, But there's

1484
01:08:10,400 --> 01:08:12,800
Speaker 3: also people that is, I want a place to hunt.

1485
01:08:13,040 --> 01:08:15,280
Speaker 3: I got kicked off everywhere. I'm sick of paying for leases.

1486
01:08:15,320 --> 01:08:17,120
Speaker 3: I just want a place to hunt. I don't care

1487
01:08:17,200 --> 01:08:18,880
Speaker 3: if I see a deer, I'm gonna be so happy,

1488
01:08:19,439 --> 01:08:21,280
Speaker 3: Versus maybe what your goals were going into, Like I

1489
01:08:21,320 --> 01:08:23,760
Speaker 3: want to target five year old deer home and so

1490
01:08:24,080 --> 01:08:26,960
Speaker 3: that's that's that whole bell curve of potential buyers. And

1491
01:08:27,000 --> 01:08:29,120
Speaker 3: so I don't think you every want to be deceitful, like, yeah,

1492
01:08:29,120 --> 01:08:31,640
Speaker 3: that neighbor's a jerk and you're not gonna like him.

1493
01:08:31,680 --> 01:08:35,040
Speaker 3: Like I think you probably say, hey, he's hasn't liked

1494
01:08:35,040 --> 01:08:37,080
Speaker 3: me that much, but maybe you guys will get along better.

1495
01:08:37,160 --> 01:08:39,880
Speaker 3: And I think that's just like the easiest way to communicate,

1496
01:08:40,600 --> 01:08:42,320
Speaker 3: you know, like to never be deceitful, because like the

1497
01:08:42,320 --> 01:08:45,000
Speaker 3: world is tiny, whether people realize that or not, like, yeah,

1498
01:08:45,160 --> 01:08:48,040
Speaker 3: be honest, explain like, hey, these are the things that

1499
01:08:48,240 --> 01:08:49,960
Speaker 3: didn't work for me on this farm, but maybe you

1500
01:08:49,960 --> 01:08:52,360
Speaker 3: could fix them, or maybe maybe this doesn't bother you,

1501
01:08:52,400 --> 01:08:53,880
Speaker 3: but I do want to let you know these you

1502
01:08:53,960 --> 01:08:55,920
Speaker 3: know that this is going on, and I think that's

1503
01:08:56,160 --> 01:08:58,720
Speaker 3: really important. But to summarize though, yeah, I think you

1504
01:08:58,760 --> 01:09:02,720
Speaker 3: probably sell it. And I've talked to a lot of

1505
01:09:02,720 --> 01:09:06,000
Speaker 3: people and I have not found many people that have

1506
01:09:06,080 --> 01:09:09,280
Speaker 3: lost money from selling a piece of crown historically, and

1507
01:09:09,280 --> 01:09:11,320
Speaker 3: I think that comes down to owning it long enough too,

1508
01:09:11,400 --> 01:09:14,080
Speaker 3: So I think that's really important. And like circling way

1509
01:09:14,080 --> 01:09:16,320
Speaker 3: back to like the investment versus land, this is one

1510
01:09:16,320 --> 01:09:18,040
Speaker 3: of my favorite conversation on the Land podcasts. It was

1511
01:09:18,040 --> 01:09:21,680
Speaker 3: a father and son and the father went bankrupt during

1512
01:09:21,720 --> 01:09:24,439
Speaker 3: the farming crisis in the eighties. It was like a

1513
01:09:24,520 --> 01:09:27,280
Speaker 3: very powerful story that I really enjoyed. And then the

1514
01:09:27,360 --> 01:09:31,360
Speaker 3: son has been so like multi family investment, investment, investment,

1515
01:09:31,920 --> 01:09:33,760
Speaker 3: and then they bought a farm and they're like, yeah,

1516
01:09:33,760 --> 01:09:36,320
Speaker 3: this is pretty awesome, Like we did pretty well, and

1517
01:09:36,520 --> 01:09:38,120
Speaker 3: my son loved to go out and work on it.

1518
01:09:38,520 --> 01:09:40,800
Speaker 3: And so it's like we always we get in our

1519
01:09:40,800 --> 01:09:44,040
Speaker 3: own way of crunching the numbers and Okay, what is

1520
01:09:44,080 --> 01:09:47,120
Speaker 3: peace and quiet worth? What is running a tractor and

1521
01:09:47,160 --> 01:09:48,760
Speaker 3: doing your food? But what is that worth? Because like

1522
01:09:48,760 --> 01:09:49,960
Speaker 3: at the end of the year, I always write down

1523
01:09:49,960 --> 01:09:52,200
Speaker 3: what are my five favorite days of the year. Three

1524
01:09:52,240 --> 01:09:54,120
Speaker 3: of the five are always a day like working with

1525
01:09:54,120 --> 01:09:56,719
Speaker 3: my wife or my family on a farm. Like that's

1526
01:09:57,040 --> 01:09:59,360
Speaker 3: that's me. So like what is that worth to me?

1527
01:09:59,439 --> 01:10:01,479
Speaker 3: It's worth a lot. And so I think that's the

1528
01:10:01,479 --> 01:10:02,960
Speaker 3: biggest thing is we get so caught up on like

1529
01:10:03,000 --> 01:10:04,960
Speaker 3: the numbers. We get in our own way. This farm

1530
01:10:05,000 --> 01:10:06,680
Speaker 3: doesn't have this, or this one could be better, or

1531
01:10:06,680 --> 01:10:09,600
Speaker 3: did you hear about this other farm? It's like you

1532
01:10:09,640 --> 01:10:11,360
Speaker 3: got to give yourself permission to be happy and move

1533
01:10:11,400 --> 01:10:14,040
Speaker 3: forward with what you want. I really like I think

1534
01:10:14,040 --> 01:10:17,960
Speaker 3: it's more in our brain than anything else. I think

1535
01:10:18,000 --> 01:10:21,800
Speaker 3: it's a really good final thought to send this out.

1536
01:10:21,960 --> 01:10:24,880
Speaker 3: I think that's probably the message a lot of folks

1537
01:10:24,960 --> 01:10:26,920
Speaker 3: need to hear. But I want to give you an opportunity.

1538
01:10:27,000 --> 01:10:29,880
Speaker 2: If there's anything else you want to send folks off with,

1539
01:10:30,800 --> 01:10:34,640
Speaker 2: speak now or forever hold your tongue. And then secondly,

1540
01:10:35,280 --> 01:10:38,800
Speaker 2: could you give folks the rundown of where they can

1541
01:10:38,880 --> 01:10:41,880
Speaker 2: find all the different great work that you and the

1542
01:10:41,920 --> 01:10:44,719
Speaker 2: folks at Exodus and everyone are doing with the various

1543
01:10:44,720 --> 01:10:48,600
Speaker 2: podcasts and media you guys have, I would love to

1544
01:10:48,600 --> 01:10:49,439
Speaker 2: hear about all that.

1545
01:10:50,040 --> 01:10:52,760
Speaker 3: Yeah, once again, thanks for having me on here. My

1546
01:10:52,880 --> 01:10:56,000
Speaker 3: shameful shameless or and maybe there's some shame I don't know.

1547
01:10:57,120 --> 01:10:59,439
Speaker 3: I'm a licensation here in Illinois, and so I'm more

1548
01:10:59,479 --> 01:11:02,360
Speaker 3: than happy to assist anyone in some of the conversations

1549
01:11:02,400 --> 01:11:04,160
Speaker 3: that we had here, or if you're anywhere in the country,

1550
01:11:04,400 --> 01:11:06,240
Speaker 3: happy to talk to you as a friend and give

1551
01:11:06,280 --> 01:11:08,559
Speaker 3: you some ideas and point you in the right direction.

1552
01:11:08,840 --> 01:11:11,200
Speaker 3: When I started a land podcast the goal of helping

1553
01:11:11,240 --> 01:11:13,240
Speaker 3: one hundred people by their first farm, and I'm getting

1554
01:11:13,280 --> 01:11:15,040
Speaker 3: really close to that, which is so cool to say,

1555
01:11:16,000 --> 01:11:18,200
Speaker 3: you know, like whether this is someone an email like hey,

1556
01:11:18,240 --> 01:11:20,559
Speaker 3: I'm in Wisconsin and you helped me have enough confidence

1557
01:11:20,560 --> 01:11:21,880
Speaker 3: to move forward. I bought a farmer. I love it,

1558
01:11:21,960 --> 01:11:24,320
Speaker 3: and so like that's why I started it, and so

1559
01:11:24,360 --> 01:11:26,680
Speaker 3: it's really cool to share kind of what I've been

1560
01:11:26,680 --> 01:11:29,080
Speaker 3: doing for the last one hundred and thirty some episodes

1561
01:11:29,080 --> 01:11:32,559
Speaker 3: of the Land podcast comes out every Monday. And the

1562
01:11:32,600 --> 01:11:37,040
Speaker 3: other thing Exodus outdoor Gear, our YouTube channel and the website.

1563
01:11:37,040 --> 01:11:40,160
Speaker 3: Exodus outdoor Gear dot com manufacture trail cameras and arrows,

1564
01:11:40,200 --> 01:11:43,080
Speaker 3: and this may will be nine years of Exodus, which

1565
01:11:43,120 --> 01:11:46,360
Speaker 3: is crazy to say. And it's been a lot of fun.

1566
01:11:46,400 --> 01:11:48,120
Speaker 3: We have a lot of content beyond If you're a

1567
01:11:48,160 --> 01:11:50,680
Speaker 3: big woods guy, probably not your dude, but if you

1568
01:11:50,720 --> 01:11:52,320
Speaker 3: want to talk about land, I'm your guy. And so

1569
01:11:52,360 --> 01:11:53,720
Speaker 3: we have a lot of different types of content. If

1570
01:11:53,720 --> 01:11:56,559
Speaker 3: you like whitetails, I guarantee we talk about wherever you're

1571
01:11:56,600 --> 01:11:57,400
Speaker 3: hunting in the country.

1572
01:11:57,520 --> 01:12:00,960
Speaker 2: Yeah, yeah, Chad's got that big Woods game dialed in

1573
01:12:01,120 --> 01:12:01,920
Speaker 2: to talk about there.

1574
01:12:02,360 --> 01:12:04,720
Speaker 3: I always give him a hard time. Yeah, he's all

1575
01:12:04,720 --> 01:12:06,680
Speaker 3: about it. Not for me, but he's all about it.

1576
01:12:06,760 --> 01:12:11,280
Speaker 2: Hey, different strokes for different folks, right, absolutely, All right, well, Jake,

1577
01:12:11,320 --> 01:12:14,639
Speaker 2: thank you so much. This is great, And make sure

1578
01:12:14,640 --> 01:12:17,160
Speaker 2: my buddy listens to this and gets off his tail

1579
01:12:17,200 --> 01:12:18,840
Speaker 2: and buys that farm. And I think there's a lot

1580
01:12:18,880 --> 01:12:22,240
Speaker 2: of other people who, in all seriousness, I can't recommend

1581
01:12:22,320 --> 01:12:24,600
Speaker 2: your stuff enough. The Land podcast. I've listened to a

1582
01:12:24,600 --> 01:12:26,320
Speaker 2: bunch of it as I've gone through. I go through

1583
01:12:26,320 --> 01:12:28,320
Speaker 2: these like ups and downs, and maybe I should do

1584
01:12:28,320 --> 01:12:30,120
Speaker 2: it now, right right now. Maybe I should do it now,

1585
01:12:30,200 --> 01:12:33,479
Speaker 2: right now, And so I'll periodically jump in and explore

1586
01:12:33,520 --> 01:12:36,719
Speaker 2: the archives. And you've been doing some good stuff lately,

1587
01:12:36,800 --> 01:12:41,080
Speaker 2: So thank you for helping so many people. You maybe

1588
01:12:41,240 --> 01:12:43,280
Speaker 2: are approaching one hundred people that you've helped that have

1589
01:12:43,360 --> 01:12:46,559
Speaker 2: told you and confirmed that they've been helped. But I'm

1590
01:12:46,560 --> 01:12:49,320
Speaker 2: sure there's many, many thousands who have benefited from what

1591
01:12:49,360 --> 01:12:51,200
Speaker 2: you're putting out there along the way.

1592
01:12:51,320 --> 01:12:54,080
Speaker 3: So keep with the good work, appreciate that. Thank you

1593
01:12:54,120 --> 01:12:54,439
Speaker 3: so much.

1594
01:12:56,920 --> 01:12:59,240
Speaker 2: All right, and that's a wrap. Thank you for joining.

1595
01:12:59,600 --> 01:13:01,960
Speaker 3: Thank you again to Jake for everything he shared with us.

1596
01:13:03,000 --> 01:13:04,960
Speaker 2: I think we got a wealth of information there, and

1597
01:13:05,000 --> 01:13:07,880
Speaker 2: as I mentioned earlier, if you're looking for more, go

1598
01:13:07,960 --> 01:13:09,759
Speaker 2: check out Jake's podcast, Go check.

1599
01:13:09,560 --> 01:13:10,880
Speaker 3: Out the resources he mentioned.

1600
01:13:10,920 --> 01:13:13,640
Speaker 2: There's a lot more there to dive into. So that

1601
01:13:13,680 --> 01:13:16,519
Speaker 2: all said, thanks for being here, and until next time,

1602
01:13:16,840 --> 01:13:19,120
Speaker 2: stay wired to hunt.