Important Financial Resources for First-time Farm Buyers

Iowa Farm Land

First-time Farmland Buyer Resources

 

There are plenty of things to consider when buying a farm for the first time. There’s the equipment, the livestock, the maintenance, but before you begin thinking about any of that, the first step is figuring out how to finance a farm. It can be a daunting task to take in all at once, but these financial resources can help you turn your dream of owning farmland into a reality.

 

Ag Lending

Getting qualified for a farm loan takes proper planning. Conterra Ag, or other agricultural specialty lenders, offer products that are tailored for the industry. They have the knowledge and background in the rural property sector. Another common resource for rural landowners and future farm buyers is the Farm Credit system. This network of financial farm resources focuses on rural communities, offering financial assistance and tools for buyers under the age of 35 who have 10 or fewer years of experience. Most Ag loans can be used to buy land, livestock, equipment and contribute to general farm improvements. 

 

Grant Opportunities for Farmland

The United States Department of Agriculture (USDA) supports sustainable agriculture research and education. To help enrich these initiatives, the USDA offers grants for farmland that focus on new farmers buying new farming equipment. As a first-time farm buyer, these grants can offer a big boost. Look to see if your farm qualifies for this type of financial assistance. 

 

Tax Benefits for Farming

The U.S. government offers tax benefits for people going into the farming business. The U.S. tax codes defines a farm as land that includes “stock, dairy, poultry, fruit, fur-bearing animal, truck farms, plantations, ranches, nurseries, ranges, greenhouses or other similar structures used primarily for the raising of agricultural or horticultural commodities, and orchards and woodlands.”

It’s important to understand if your property qualifies for farm tax benefits. If it does, you will need to provide proof of your farm business plan to demonstrate that it is a profitable enterprise. This includes a comprehensive profit and loss statement. Other things to consider and discuss with your CPA and real estate professional regarding your farmland purchase are: depreciation, deductible expenses, fuel tax credits, renewable energy tax credit, and agricultural research and development tax credit. 

 

Getting a Farm Started

Buying a farm for the first time is an exciting prospect, and one that comes with a variety of ways to make it a more affordable one. From first-time farm loans to farmland grants and farm tax benefits, the resources are vast and aimed at helping buyers make their farm profitable. To learn more about buying a farm or locating farmland for sale near you, contact the real estate experts at Hayden Outdoors. Our highly experienced team can help you navigate the ins and outs of securing your dream farm property. 

 

Still not sure where to start? Reaching out to a real estate professional who specializes in farmland transactions is a great first step!

 

Bobby Norris Team Joins Hayden Outdoors in Fort Worth

Rancher, horseman and real estate broker Bobby Norris recently made a move in the real estate industry, and the deal should send a ripple through the Texas ranch broker industry.

Bobby Norris and his team of agents in Fort Worth, Texas have partnered with the Hayden Outdoors Real Estate brokerage to help serve Texas and bring land, game ranches, livestock and working horse knowledge to accompany the firm’s already growing Lone Star team.

The move involves all of Norris’ team to switch brands to Hayden Outdoors, but the land specialists won’t miss a beat with real estate service and will increase exposure in Fort Worth, Dallas and Texas as a whole. Norris was most impressed with the marketing and advertising plan of the Colorado-based firm.

“The Hayden Outdoors marketing plan is second to none and recognizing this in past transactions made this move eminent. Their level of cutting-edge marketing is not done in Texas, and we are thrilled to join their team and serve our landowners with an incredible amount of real estate exposure. It’s light years ahead of the Texas land market.”

Dax Hayden, Managing Partner at Hayden Outdoors, knew this would supplement their footprint in Texas, the largest ranch market in the US. “Bobby and I see eye to eye on branding, knowledge and delivering landowners REAL marketing. After we agreed that this was a mutually beneficial, we were “all-in” on bringing their firm into our family. We’re just really excited to have their team join ours!”

Hayden Outdoors jumped into the niche marketing that Bobby Norris had experience with, and in a couple weeks they’ve launched multiple partnerships in the Cutting and Reining Horse industry. “The NCHA Futurity and World Finals Sponsorship made complete sense to me and with their promotion on the hit series Yellowstone, all parties are sure to benefit from the timing of this launch. Other Texas working horse and livestock events will surely fall in our marketing and event calendar. Having an experienced team of land brokers in this industry is key to serving landowners selling specialty properties,” said Dan Brunk, Director of Marketing for Hayden Outdoors.

Bobby Norris bring over a dozen qualified agents and brokers to the Hayden Outdoors team, specializing in equestrian facilities, game ranches, cattle ranches, luxury estates, rural ranchettes, and recreational properties in Texas. Ricky Gohmert will continue to hold the Managing Broker status in the State of Texas for Hayden Outdoors.

Bobby Norris Team Joining Hayden Outdoors:

Pictured Below:

Bobby and JJ Norris with sons Rhett (14) and Gates (17)

How Winchester Firearms Continues to Build the Ultimate “Rifleman’s Rifle”

Article by:
Allen Treadwell
(479) 903-4109

allen@haydenoutdoors.com

 

With rifle season officially upon us, it’s time to consider adding the ultimate rifleman’s rifle to this year’s hunting kit. When it comes to the best firearms out there, one name comes to mind: Winchester. The new Model 70 and XPR bolt action rifles are the benchmark against which every other bolt-action rifle is measured. 

 

The Model 70

Model 70 Bolt Action Rifle

 

Never your ordinary bolt action, the new Model 70 continues to elevate the excellence that has defined this firearm since it was created in 1936. Key features include:

  • M.O.A.™ Trigger System 
  • Improved fit and finish
  • Enhanced accuracy
  • Classic Pre-’64 controlled round feeding

The new M.O.A. Trigger System takes accuracy to an entirely new level, providing the most precise three-lever trigger system in the world. The Pre-’64 controlled round feed fully controls the cartridge from magazine to chamber to ejection. Trip Zero Advantage means there is zero take up (the distance the trigger piece travels prior to the shooter feeling resistance), zero creep (perceived movement of the trigger just before the release of the firing pin or striker), and zero overtravel (rearward movement of the trigger once the firing pin or striker has been released). In short, this is as smooth a shot as it gets. The new Model 70 also has a three-position safety, which is easy and convenient to operate with the thumb of your firing hand. 

 

The Winchester XPR Rifle

Winchester XPR Rifle

Like the Model 70, the Winchester XPR was designed with hunters’ needs in mind. Leading in both performance and precision, the XPR’s innovation caters to the following key issues:

  • Overall accuracy
  • Quality of the trigger system
  • Advanced features
  • Lasting value

The M.O.A. Trigger is also at the heart of the XPR, complemented with the highest quality barrel and action, including its rifling, crown, action interface, and headspace. The result is a comprehensive, expertly crafted, advanced firearm that promises remarkable accuracy. It’s the details that set this rifleman’s rifle apart. Additional features include:

  • Bolt release button for opening the bolt with the safety on
  • Fast 60-degree bolt lift that leaves ample clearance for your scope
  • Superior Inflex Technology recoil pad system

 

Winchester has been creating world-class weaponry since 1866, from rifles to shotguns and accessories. Make this hunting season your best yet with the superior firearm you deserve – a new Model 70 or XPR bolt action rifle. 

Winchester Guns logo

Your Guide to 1031 Exchanges: Upgrade to a Tax-Deferred “Replacement Property”

Article by:
Steve Chacon
First American Exchange Company
(303) 876-1161

schacon@firstam.com

As a large property owner or real estate investor, you might be familiar with 1031 exchanges. As a newcomer to investing, or as someone who is preparing to sell a long-held piece of real estate, you might not be. Either way, it’s important to understand the opportunities a 1031 exchange can offer you during your next real estate transaction, and you should consider taking action quickly. President Biden’s new tax proposal dissolves the possibility of deferring taxes on property gains over $500,000.

 

First, what exactly is a 1031 exchange?

Simply, it’s a process that allows you to sell an investment property (the key word here being investment) and then roll the proceeds into the purchase of a new investment property, preferably of equal or greater value, to defer all capital gains taxes. 

 

Am I eligible for a 1031 exchange?

If you plan to take advantage of a 1031 exchange, it’s important to understand which types of properties and transactions are eligible. Your property must be an investment property; 1031 exchanges do not apply to primary personal residences. Investment properties are real estate purchases used to generate profit, such as office buildings, ranches, farms or rentals. If you’re looking to fully defer the tax ramifications of the sale, you’ll need to roll the money into the sale of a property that is of equal or greater value than the one you’re selling. This isn’t a requirement, but using the money to purchase property that costs less than the original will leave some tax exposure. 

 

How do I accomplish a 1031 exchange?

There are specific steps you must take in order to take full advantage of the 1031 exchange tax deferment and it’s important to note that timing is paramount

  1. Sell your property. This obvious first step starts the snowball process of rolling the money into a new investment property. 
  2. Identify a qualified intermediary (QI), or middleman. While you don’t have to use a QI for the sale, the IRS does require some sort of exchange facilitator. A QI will have experience in this type of transaction, and will help ensure it is done properly. QIs typically charge between $800 – $1500 for this service. 
  3. Find up to three new properties. Again, timing is key here. Upon the sale of your property, you’ll have a 45-day window to identify up to three “like-kind” new properties
  4. Close on a new property. You will have 180 calendar days from the sale of the original property until you close on the purchase of the new or replacement property. Look to your QI to help manage this timeline. 

 

Most importantly, don’t wait! Contact your real estate professional today to learn more about possible 1031 exchange opportunities. It might be the perfect time to invest in the ranch, farm or hunting property of your dreams. 

How 4 Rivers Equipment Simplifies Building a Tractor Package for Your Farm

 

Whether it’s harvest season, snow plowing, grating your driveway, or simply moving dirt – or you’re in the market for a new ranch, farm or off-grid property and the equipment that comes with it – now is an excellent time to consider buying a new tractor.

Even better news: 4 Rivers Equipment just made it much easier. No need to go into the store (although that’s fun, too); 4 Rivers Equipment now offers buy online options. Customize a John Deere tractor package that’s unique to you, including adding attachments such as rear blades, rotary mowers, pallet forks and box scrapers. 

 

Haggle-free Pricing

Take advantage of the simple, affordable Colorado Package. Customize the best fit for you, then enjoy fall pricing and winter delivery. A variety of payment options are available. 

 

30 Days Worry-free

If you’re on the fence, so to speak, about buying a new tractor, not to worry. 4 Rivers Equipment offers a 30-day worry-free policy to ensure peace of mind. Spend that time testing, gardening and landscaping to make sure the tractor you purchased feels right for your land. 

 

10 Year Warranty

John Deere stands by its products. New tractors come with a FREE 10 year warranty or 1,000-hour engine and powertrain warranty. 

 

Front Range Ready

Once customized, you can come in and pick up your new tractor, or 4 Rivers Equipment can deliver it; they offer delivery from select locations and pick-up throughout the Front Range of Colorado and Wyoming. See the 4 Rivers Equipment locations below.

 

 

Tempted to buy that new tractor?

We don’t blame you. Spend some time window shopping online at 4 Rivers Equipment, or contact their sales team today to learn more about the customized package that’s right for you.

Ranch Squared? Your Guide to Buying Land in a Community Ranch

Ranch living offers a lifestyle that more and more people crave in a world that is otherwise in constant motion – wide open land, winding creeks and rivers teeming with trout, panoramic vistas, lingering days and plenty of room to roam. While owning and managing a ranch by yourself might be more than you’re willing to take on, the idea of living in a ranch community is well worth considering.

 

Ranch communities are gaining popularity, offering land owners the best of ranching life without the pressures of managing the entire property alone. Common types of ranch communities include sporting clubs, communities of smaller ranches within a larger ranch, shared private access to resources and shared agriculture opportunities.

 

 

What are the benefits of a community ranch?

 

The pros column is full of reasons to consider buying community ranchland, including:
  • Shared ranch responsibilities such as land maintenance, cultivation and improvements
  • Shared costs among ranch community owners
  • Convenience with less isolation due to connectivity to others in your direct ranch community
  • Access to shared natural resources associated with the community ranch, such as rivers, streams, lakes, trails, mountains and more
  • Many ranch communities also offer world-class amenities like lodges, dining, guest cabins, and recreation opportunities

 

 

What should I consider when looking for the right community ranch?

 

There are many things to take into consideration when looking for community ranch real estate that fits your needs and expectations. Here are a few things to keep in mind:
  • How you want to use the property – many ranch communities offer a variety of land and recreational use amenities including guided fishing and big game hunting, skiing, livestock and equine opportunities.
  • How much land you want – Communities of ranches offer lots that can range in size from small acreage (two to three acres) to expansive ranch land (300+ acres). It’s important to assess how much land you feel is enough or too much.
  • Existing infrastructure – If you find a ranch community that interests you, work with your ranch real estate specialist to inquire about existing utilities, common areas and homeowners’ association fees and services.

 

Ranch communities are an excellent way to enjoy the extraordinary benefits of ranch living without the isolation or demands of day-to-day upkeep. The real estate professionals at Hayden Outdoors understand the unique aspects of community ranch ownership and are happy to guide you through the process of purchasing your dream ranch land.

Colorado’s Historic Year of Forest Fires

colorado wildfire

2020 was a historic year of wildland fires in our state. According to an article in 5280 Magazine, over 625,000 acres burned and three of the largest fires ever occurred last year (Carodine 2020). Total firefighting costs exceeded $266 million (gacc.nifc.gov). One of the blazes, the East Troublesome Creek (ETC) fire, scorched over 150,000 acres in only 1 day. That fire started and spread through forests comprised mostly of standing dead lodgepole pine trees from the bark beetle epidemic from earlier this century. 

From a real estate perspective, 366 homes and 214 additional structures were damaged or a total loss in the ETC fire (cpr.org). According to a Larimer County Assessors Report, 243 buildings (of which 184 were homes) were damaged or lost in the Cameron Peak fire, affecting 469 privately owned properties (larimer.org). Total market value losses are approximately $6.4 million. The combined homeowner and auto insurance claims filed for both fires exceed $614 million, making 2020 the most expensive wildfire year ever recorded (rmiia.org).

 

Mountain and Rural Property Owner Resources

Wildfires across the western United States are becoming larger and more destructive and unfortunately, it may be the norm moving into the future (denverpost.com). Given the destructive nature of these large fires, it may seem that mountain and rural landowners cannot do anything to protect their investments. However, there are many steps that can be taken to improve safety while maintaining property values. These include doing mitigation work around homes and outbuildings to enrolling in a federal or state program that can help offset the cost of bringing in a contractor to do work on a property. There are a myriad of websites and articles on the internet available to landowners to help guide the decision-making process. Included here are a curated selection that may be valuable to readers of this article (Hayden Outdoors Real Estate does not endorse any specific organization or program, these are for information purposes only)

 

Forest Fire Preparedness Resources

 

 

 

East Troublesome Creek and Cameron Peak Fires: A Photo Tour

In March 2021, Dr. Christopher Licata, a Forest Ecologist who recently joined the Hayden Outdoors team, did a driving tour of the area impacted by these two wildfires. His wife, Segrid, documented the damage to the forest and several of her photos are included here. Visit Dr. Licata’s Profile page to contact him for more info on this topic.

Greg Norman Seven Lakes Ranch Sells – Hayden Outdoors Brings Buyer

Greg Norman's Seven Lakes Ranch

June 2, 2021 – Meeker, CO: In an onslaught of major recent land deals for Hayden Outdoors Real Estate, one is getting lots of press. The sale of Greg Norman’s Seven Lakes Ranch near Meeker, Colorado. In addition to the recent sale of the Kucera Ashcraft Ranch, Twin Pine Ranch and others that Hayden Outdoors have represented, totaling over 50,000 acres this year, the purchase of Norman’s ranch is significant for more than the popularity of its owner.

Hayden Outdoors agent and Elk Creek guide Colton Brown represented Chuck Kuhn, the buyer, in the transaction, which in total transferred roughly 11,600 acres of land ownership. Multiple parties were involved with the deal, one being JK Land Holdings, owned by Kuhn, which seeks to conserve nearly 11,000 acres.

The Kuhn family will retain the Seven Lakes lodge and surrounding land, and a majority of the remaining acreage will be acquired by neighboring Elk Creek Ranch, a one-of-a-kind private sporting community dedicated to conscientious stewardship of the land that it owns and manages. Brown is a guide at Elk Creek Ranch, and knows the ins and outs of the property, the river and Seven Lakes Ranch.

“This transaction spanned over 9 months when we started early dealings. It was an important goal for Chuck and I to give Elk Creek Ranch an opportunity to add an additional 11,000 acres of prime Elk hunting and a couple miles of very important water. In my mind, this addition completely transforms Elk Creek into one of the most pristine in the country for fishing and hunting. We now have an accumulated 25,000 acres of hunting accompanied by over 30 miles of fishing. As a resident and native to this valley the conservation easement is important to all parties, assuring this country will never be developed.”

The buyer is a land enthusiast as well. “Greg’s legacy extends well beyond golf. He is an outdoorsman and conservationist, and we share his vision of preserving this amazing swath of Colorado from future development,” said Mr. Kuhn, CEO, JKLH, and Founder and CEO, JK Moving Services, the nation’s largest independently owned and operated moving company.

With this acquisition, the Elk Creek Ranch development will double its grounds to over 25,000 acres, expanding what is already well known in the recreational and sporting industry as a top “shared-amenity” ranch in North America.  From fishing to hunting, private restaurant and bar, on-site fly shop and clubhouse, Elk Creek Ranch offers homeowners luxury amenities and world class recreation in the quiet White River Valley, just east of Meeker, Colorado.

Hall and Hall represented the sellers in the transaction.

Contact Colton Brown for information on Elk Creek Ranch real estate opportunities.

Off-grid 101: A Guide for Buying Your First Cabin Off the Grid

Living Off the Land and “Off the Grid”

 

Self-sustaining gardens. Star-filled night skies. Only the essentials in the best possible way. A quiet many of us haven’t heard in a long time – if at all. As the world becomes more and more connected and hectic, the idea of living unplugged and off the grid is gaining appeal, and the draws are more relevant than ever.

It can be an incredibly rewarding endeavour, especially if you’re prepared. And the best part? Living in a cabin off the grid doesn’t have to mean giving up some of your favorite creature comforts, like running water and flip-switch electricity (and dare we say – internet access, if you wish).

Consider these key points to help ensure your off-grid real estate purchase is successful, long-lasting and as rewarding as possible. 

 

Energy: How and Where You’ll Get It

When people think of living off the grid, one energy source in particular comes to mind – solar. And it’s a powerful one. It doesn’t take a huge swath of solar panels to provide enough energy to get a small to mid-size cabin through a summer day. But what about a gray mid-winter sky in northern Montana? Or a drizzly week in your dreamy Pacific Northwest coastal enclave? For most people, living off-grid still requires some form of back-up power for life’s basic necessities. Buyers should consider an alternative power source to ensure you’re not left stranded. The most common is a propane- or gas-powered generator. Wind power is another option if your property offers the means to support it. 

Back to propane, one or two tanks, depending on your property size, can be important. When buying off-grid cabin property, consult your realtor to make sure your parcel can safely support propane – and that a delivery truck can access your land at least once or twice a year depending on how much you anticipate using. Tip: Don’t wait until you’re down to your last drop of propane. Try to fill up proactively, ideally before high-use winter and shoulder season months.

 

Water: Vital to Off-grid Cabin Life

When people buy property off the grid, grocery store water dispensers and city taps are typically very, very far away. It’s important to understand what your water source will be. This varies from one region to the next. In rainy climates such as Alaska and parts of Oregon, some rely on rain capture mechanisms. In areas where natural water is prevalent, wells are more typical, but again, it’s imperative to know how deep your well is. If you need to drill down 100-plus feet to find a water source, your real estate purchase just became quite a bit more costly. However, tapping into a well just 20 feet beneath ground-level, or relying on filtered water from a nearby stream or lake, is easier. 

In addition to a well, you’ll need an electric pump, which takes us back to a reliable energy source. If possible, it’s worth installing a hand pump somewhere on the property. Should you ever completely lose power, this will come in handy.

 

Septic: If You Have Running Water, You Need a Septic System

While it’s not the sexiest aspect of off-grid living, a viable septic system is as important as running water if you have it. If you don’t, an eco-friendly outhouse is perfectly sufficient. But for those who appreciate the occasional hot shower or flush toilet as much as they love the solitude of their cabin off the grid, a proper septic system and durable drain field are essential.

 

Location. Location. Location.

Real estate’s favorite catch phrase takes on a whole new meaning when you’re talking about living miles away from anyone or any modern amenities. Here are some things to consider:

 

Solitude

It can be the driving factor behind your off-grid cabin real estate purchase, but it’s important to understand how others are using the land around you. Do you border Forest Service or BLM land? Is motorized vehicle use allowed nearby? Will hunters be walking the woods come fall?

 

Access

It’s all fun and games until it snows three feet and you’re stuck in, or stuck out, of your cabin. Make sure you understand what it will take to access your off-grid property year-round. 

 

Safety

Stocking up on basic medical supplies is a good idea. Have a well-tooled first aid kit handy. Additionally, understand nearby EMS access points, including ALERT landing zones. 

 

Community

Yes, you’re buying to escape. But you might find that your neighbors, even if they’re acres or miles away, provide a unique and elemental support system. 

 

Rural Internet

Sure, off-the-grid doesn’t typically mean high-speed access to the world wide web. And that’s not what we’re talking about here. But for those who are looking to combine the magic of an off-grid cabin with remote work options, you can. Rural Wi-fi and satellite internet is beginning to provide possibilities to those farther afield. 

 

All the Good Stuff

Views. Running streams. Surrounding mountain ranges. Open meadows. Sweeping prairies. Rugged coastlines. Choose land with which you connect. When you’re reliant on it, those points of connection will mean so much more.

 

Food: Going All-in on Living Off-grid

Yes, you can completely live off the land. But if you’re relying on your property as your sole food source, you need to be diligent in understanding what that means. Prior to your off-grid cabin purchase, work with your real estate professional to understand which soil types you’re dealing with.

If you’re a hunter, become well-versed in your state’s hunter safety programs, hunting licensing and local meat processing (unless you plan on doing it yourself). The same rule applies to any local fishing licensing and catch-and-release regulations. Growing seasons are also worth some looking into. The Midwest and Southwest offer plenty of prime days throughout the year to grow a harvestable bounty. But if you’re living in more northern climes, or areas where crafty wildlife find endless ways through your garden fence, maybe consider a greenhouse.

 

Land Improvements: Yes, You Can Improve the Perfect Place

Living off the grid isn’t just a lifestyle; it’s a way of life. It’s a commitment to your property, and forming a partnership with the land around you. More than a townhome remodel or upgrade to a higher-end house, buying a cabin off the grid is a way to establish a connection to wild and uncommon natural spaces, and to reconnect with yourself.

 

Hayden Outdoors specializes in finding clients uniquely remote, off-grid cabins and vacant land in a variety of states, including:

Whether you’re just beginning to explore the idea of off-grid living, or you’re in the market for a remote cabin where you can completely unplug, Hayden Outdoor real estate agents are experts in walking you through the important considerations, and finding you the perfect property.

Steps for Creating a Successful Ranch Management Plan

sprawling utah ranch property with iconic red barn

The relationship between ranchland and its landowner is one of America’s oldest love stories, complete with romance, reward, heartache, hard work and unending commitment to living a life on the land. Ranch ownership offers plenty of allure, but before you purchase your own ranch property, it’s imperative to create a comprehensive ranch management plan to ensure healthy land, profitable seasons and longevity.

 

Follow these Ten Steps for a Holistic Approach to Properly Managing Your Ranch.

 

1. Establish the “Big Picture” or Mission Statement for Your Ranch

Start by specifically defining the Ranch’s land use and general purpose. Do you dream of raising commercial cattle? Or is your ranch intended for your family’s sustainable living only, offering a collective means of living off the land?

Before you purchase your dream ranch property, it’s important to clarify what you want to do with it. This guiding philosophy provides a road (or trail) map for ranch operations, management, marketing, upkeep and profitability. 

 

2. Qualify Your Key Resources

These can be the land itself. From pastures to quality soil and natural water sources – your livestock and other animals, and the people who manage the property.

It’s important to understand the unique aspects of your ranch and enhance them over time with special attention paid to natural resource management, proper equipment maintenance and providing a fun, engaging work environment for ranch managers.

 

3. Create a Management and Business Plan

Treating your ranch like a business is important to its long-term viability & sustainability.

Determine your goals and objectives. Establish key performance indicators you can track from season to season. Then revisit the plan frequently throughout the year. 

 

4. Develop a Pasture Management Plan

Understand your soils, water sources, forages and potential for erosion to ensure your pastures remain productive and your cattle are happy. 

 

5. And a Cattle Management Plan

Ranches are most productive when every element of them work in harmony – and this is certainly the case with cattle and the land.

Things to consider are which types of cows are best for your land, how you will keep them healthy and well nourished, and how they’ve been bred or if you will breed them. 

 

6. Make Sure Your Bookkeeping is Organized and Up-to-date

Toss the shoebox full of old receipts and invest in proper bookkeeping software. You’ll want to keep track of revenue streams, spending, employee wages, invoicing and profits and losses. Being diligent about your bookkeeping throughout the year is an important way to ensure you’re working toward your ranch’s mission statement and it will save you time, energy and headaches come tax season. It’s also worth noting that profitable ranches are much more likely to be passed down from one generation to the next, ensuring their legacy in your family’s history. 

 

7. Consider If and How You Want to Market Your Ranch

Is it family-owned and operated? Do you focus on raising organic cattle or does your ranch support speciality breeds? Establishing your ranch’s unique aspects and competitive advantages is elemental to a successful marketing plan. From there, consider how you want to communicate that message. These days, effective marketing can range from sponsorship opportunities at your local livestock auction to highly targeted social media advertising. 

 

8. Keep Personnel Management in Mind

Happy employees stick around. It’s important to create a fun and inviting work environment for your ranch management team. 

 

9. Continue to Observe and Adjust Accordingly

Ultimately, ranches are complex living entities at the cross-section of humans, animals and nature. It’s important to learn your ranch inside and out. Continually look for ways to improve soil and water sources. Stay up-to-date on emerging ranch and farm technologies and equipment. Tap into local scientists and land managers to better understand the environment around you. Then apply your learnings to your ranch management plan. 

 

10. Enjoy the Process!

Owning your own ranch can be a dream realized. It offers an incredible amount of freedom and responsibility, independence and teamwork and an undeniable connection to the land. 

 

The ranch property experts at Hayden Outdoors are an excellent resource in helping you find a ranch that meets your needs and aligns with your ranch management goals.