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Re: Prospecting Methods for Rental Ground


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Posted by paul on May 16, 2016 at 04:53:57 from (173.27.49.32):

In Reply to: Re: Prospecting Methods for Rental Ground posted by JD Seller on May 15, 2016 at 20:32:19:

Like most things, you can earn it or you can steal it.

Going to funerals and asking the widows about renting land is kinda frowned on, but happens more than you would think. Getting a rich relative to bankroll you and offer $100 an acre more rent than normal also gets you a bit of talk in the neighborhood.

Earning it takes time. Wife and I are almost too old to enjoy it, and the neighbor came by with an offer to sell me 55 acres this spring, touching my land. Strange deal but they liked me as neighbors, would rather have me own it than risk it going on the auction block. As JD says, land gets rented for 30-40-60 years to the same farm family, hard to break into that ethically. If you are under 40 you are a young kid to old retiring farmers, not sure you're proven yet.... And so one.

I'm a quiet by myself type of person, of late a friend got me involved in grilling for the pork producers (I don't raise hogs) and I've been at different coops and farm/city club meetings serving food and so forth. I see now this is a good way to meet people, have good conversations many end up hearing in the grape vine, and so forth. Nothing would come of it in a year, but over 5 years, you might get yourself out there as a nice, volunteering, good kid that a landowner should consider, and a few 100 landowners now saw your face, sat down and gossiped over who you are at the gathering...... Stuff like this will cultivate a network of getting yourself out there and remind people some nice guys are atill out there, if/when they feel the urge to change renters.....

It takes time.

If we are following the 1980s with dropping prices in g, I presume you have a real job and are in a stable financial position. You might want to consider dropping land prices the next 4-5 years and opportunities might open up to buy land at a discount. -iF- you have your ducks in a row and can jump in on a land purchase, when times get ugly bankers flock to those that can buy with a lot of cash in hand. Its rough, but you can set yourself up with good assets with a real job and be in a better position than others to buy a few random small parcels in the tough times. Owned land pays off a lot better - you need less acres - and makes you more stable as a farmer and more appealing to landlords. Its not easy, but we are in an economic climate you might want to think hard on these lines.

Paul


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