[deadeye5]

I’m looking to purchase my first hunting farm and was curious if anyone had some tips for a first time buyer. What do you guys look for and how do you prepare financially as far as securing a loan seeing as they come and go so fast? Some things I’ve looked at are quality of animals (previous management/pressure), crop returns, timber value (not a big concern), field locations (fields viewable to road hunters), neighbors parcel size (surrounding pressure). Home base will be north of Liberty. I’ve been looking at stuff from central Missouri around Truman vs Bethany and north to IOWA. I can get closer to 100 acres further south vs up north. Work is only 3 days a week so I don’t care if it’s 2.5hrs I’ll park the camper or build a cabin. I want to buy in the next year just so much to think about I don’t want to jump into something too quick. Thanks and sorry for rambling just want to make a solid decision.

 

[Beerman]

Neighbors both from hunting pressure and pysco's/wackadoo aspects. Easements, both your own and any across your land. Access in terms of creeks that often flood. Ponds or good pond sites if that matters to you.

 

[Gamegetter]

I look at % timber, % field and make sure there is some water and thick cover too. Location, price per acre and any yearly income potential are also very important.
We got a much better rate by using our almost payed off first house to borrow against. It saved us an incredible amount of money. If you are interested in central to north MO, not far from Moberly send me a pm.
Hope everything works out well for you.

 

[techteacher]

Like you said be prepared to jump on a good deal. I have bought farms the day they come on the market just using google maps and platte books to see neighbors parcel size. I know you said you only work 3 days a week but the closer you have a farm the more you will use it. I also like my wife, kids and friends enjoying it so I try to stay close to something they like to use it year around. Herman is nice for wineries or close to a lake if boating is your thing.

 

[jawesome357]

I just bought my second farm about 6 months ago.

First thing I did was talk to the bank about how much they would let me spend. Then I backed off that number by about 180k. That's the simple part really.

Next you'll have to locate a piece of property, find something you're excited about, that you can see a long term vision for. Also Something that is conducive to your hunting style. A good 50/50. If you're looking to make income off the property find out what the hay, crop, or pasture ground going rate is around you. Is it eligible for CRP? Ask when the last time it was logged. Check the woods to see if it had grazing pressure from cattle or other live stock.

Go talk to the neighbors, even before you make a decision to buy, as they can be a great source of info on the property.

Go in with a mindset of making it enjoyable, and don't rush yourself. Take time to think things through, and don't settle for something that isn't right for you.

If you need any more help let us know, and enjoy the ride man!

 

[birdhunter33]

Just some advice. Budget 20-25% down payment (many lenders will require 25% for first time buyers, $2500 additional closing costs (title stuff, your loan fees, survey costs etc).. Negotiate the listing price, there is room to do so! Buy relatively close to home as what was stated above you will use it more. I am a big fan of tillable % as it really helps to pay off the loan and reduces some of your payments; I am at 70% tillable 30% woods and love it.. Good luck!! I am up to 81 acres in NE MO now and love it!

 

[techteacher]

I just bought my second farm about 6 months ago.

First thing I did was talk to the bank about how much they would let me spend. Then I backed off that number by about 180k. That's the simple part really.

Next you'll have to locate a piece of property, find something you're excited about, that you can see a long term vision for. Also Something that is conducive to your hunting style. A good 50/50. If you're looking to make income off the property find out what the hay, crop, or pasture ground going rate is around you. Is it eligible for CRP? Ask when the last time it was logged. Check the woods to see if it had grazing pressure from cattle or other live stock.

Go talk to the neighbors, even before you make a decision to buy, as they can be a great source of info on the property.

Go in with a mindset of making it enjoyable, and don't rush yourself. Take time to think things through, and don't settle for something that isn't right for you.

If you need any more help let us know, and enjoy the ride man!

I agree with all this except if it's a good deal I wouldn't take your time it will be gone. Don't be afraid to lowball people you should not give up on a place for list price. I have seen 500 to 1000 an acre negotiation price drop. Last farm I bought he dropped over 20% off the price and got a steal on the toys. You can negotiate in anything. My last house they wanted the rocking chairs on the front porch and patio set. I know this is a farm but get anything you can.

 

[jawesome357]

I agree with all this except if it's a good deal I wouldn't take your time it will be gone. Don't be afraid to lowball people you should not give up on a place for list price. I have seen 500 to 1000 an acre negotiation price drop. Last farm I bought he dropped over 20% off the price and got a steal on the toys. You can negotiate in anything. My last house they wanted the rocking chairs on the front porch and patio set. I know this is a farm but get anything you can.

Very true, you have to be able to jump at a deal when you see it. That's why I recommend getting a price point from the bank ASAP. It'll at least let him know what his price range will be able to buy in.

The thing that's tough around here, is stuff rarely hits the market, so you have to be in on the coffee shop talk. So maybe find an area he wants to be in and talk to some locals.

 

[techteacher]

Very true, you have to be able to jump at a deal when you see it. That's why I recommend getting a price point from the bank ASAP. It'll at least let him know what his price range will be able to buy in.

The thing that's tough around here, is stuff rarely hits the market, so you have to be in on the coffee shop talk. So maybe find an area he wants to be in and talk to some locals.

Talk to locals is the best way to find a good farm.

 

[deadeye5]

Neighbors both from hunting pressure and pysco's/wackadoo aspects. Easements, both your own and any across your land. Access in terms of creeks that often flood. Ponds or good pond sites if that matters to you.

Forgot to write that down it's pretty important to me. Some of these places only have 1 road access w/o any ditches or creek

 

[Hawk]

Forgot to write that down it's pretty important to me. Some of these places only have 1 road access w/o any ditches or creek

My advice would be to use your home loan for as much of the farm as possible. Home interest is deductible and is almost always lower than interest on a farm. If you have good equity in a home access it.

 

[bowhunter8]

I went through this 2 years ago and landed an awesome place near Polo. I tried to do it all on my own. Then reached out to Paul Lowry aka Outbackbio on here. Use a buyers agent. Not only to help with the process, but to find deals that may never hit the open market. Paul got notified on mine, and I was boots on the ground walking it it and offered before it ever hit MLS or the internet.

 

[deadeye5]

I’ll contact him. Very familiar with that area most of my hunting has been in cowgill just super expensive in that area. Thank you

 

[callaojoe]

Pay close attention to whats just across the fence from the land you are looking at. :wave1:

 

[beanpile]

dont go without talking to FCS for financing..our "royalty" check makes a payment every year

 

[MO-APE]

Some thoughts I put together a few years ago:
https://www.whiteknuckleproductions.com/andy-petti-land-journey/

We've since moved onto another 160 acre piece. If your primary intention is hunting, then the "neighborhood" and "cover" should be some of the most important factors. Like others mentioned above, a buyer's agent is priceless. They frequently keep high-end listings (pocket listings) for their repeat customers and those farms never hit the market. Good luck!!!

 

[OutbackBio]

I went through this 2 years ago and landed an awesome place near Polo. I tried to do it all on my own. Then reached out to Paul Lowry aka Outbackbio on here. Use a buyers agent. Not only to help with the process, but to find deals that may never hit the open market. Paul got notified on mine, and I was boots on the ground walking it it and offered before it ever hit MLS or the internet.

Appreciate it buddy! We definitely got on that one fast!
A quality buyers agent can be key in both finding the perfect property and making the process as easy and smooth as possible. Not to mention the buyer typically does not have to pay for the service!

 

[Mailman]

I just bought my second farm about 6 months ago.

First thing I did was talk to the bank about how much they would let me spend. Then I backed off that number by about 180k. That's the simple part really.

"Backed off by 180k"?? Just how big a farm you buying?

 

[jawesome357]

"Backed off by 180k"?? Just how big a farm you buying?

I bought 141 Acres, I was looking more upwards of the 250 acre range though.

 

[Gutpile]

Being close is really nice. After the "new farm smell" wears off you don't want going to your farm to be a chore or a hassle.

My place is 70 minutes door to door. I am a schoolteacher. Off in the summer and I am up there all the time doing stuff. Round tripping in a day is nothing, heck I go up after school to hunt to work on stuff and them home in the evening.