All Forum Posts by: Juan Jorge

@Kelly Custer My small town lawyer has the same attitude about setting up trusts, just fluff. He didn't even ask why I'd want to set up a trust. I mean, there's a reason they exist. By the way, who is WCG?

Thinking of farmland, depending on where it is, soil type and productivity, it is too expensive. However, it can also produce some income, such as gov't reserve programs, cash rent, timber sales, and/or hunting leases.

Not yet, but have goals to do so. In research mode now. In the meantime, buying shares of LAND. Also, trying the Iowa tax sale track. Have you looked further into farmland investing since your last post? What have you discovered?

@Tierra Carter, excellent advice from @Henry Clark ! 

I'm a market farmer for Atchison farmers' market, and the examples Henry gave about "hard work" just made me laugh, since he is telling truth that I know so well. I'm not sure what I can offer here, but just to let you know I've partnered with someone with similar aspirations to live the country life, grow wholesome food, on a 3 acre farmstead out in the middle of nowhere Kansas. Love it. 

I also love everything Henry said, but if you don't mind starting small, you might want to find a homestead with acreage. Then again, not sure how big of a spread you want. 

I've always wanted to live out in the country, and be as self-sufficient as possible, working my soul-sucking gov't accounting job, saving $$$, when the opportunity arose to move out to the farmstead, I had enough resources to do so. I wish you success in all your plans to achieve your goals.

@Vik V. From what I've read on AcreTrader, one has to be an accredited investor ($1M net worth at least, primary residence not included). Since I don't qualify, I buy shares of LAND instead. It's a REIT with diversified ag holdings, pays a dividend monthly.

@Chris LumLee I'm interested in farmland investing, and currently doing research on markets, soil productivity, conservation programs that pay  $$$. Have you considered "land flipping" where you direct mail to landowners in a given county/area, with the goal of buying for below market value? That may also work for farmland.

Glen, good going! It's so awesome that it all worked out just by you willing to take a chance. 

Before I even got to the part about irrigation, I was thinking to myself, does it need tiling work? LOL. I'm in northeast Kansas, near Atchison, with $5000+ per acre farmland. No irrigation needed here as we get adequate rainfall. 

So glad I found your inspiring post. Gave me lots of food for thought. I'm very tentatively tipping my toes into the farmland waters, and your info has helped me to tweak my analysis before taking the plunge. My geographic areas of interest are NE Kansas, northern Missouri and southern Iowa for now.

What are you future plans with farmland? BRRR? Hahahaha! Do you work closely with agricultural or state university (ag) extension people? Anyway, I'm very interested to hear how it goes for you. Best regards, Juan.

@Eliott Elias, just wondering, and I have heard of Propstream before, but exactly what types of leads/data could we glean from using Propstream? TIA

Just wondering. Why can't you just talk to the selling agent and ask him if his client is willing to accept a lower than (current) list price offer? I'm a newbie, so if that's not lawful or good business practice, sorry. 

I wasn't at all pleased with my agent refusing to relay my lower than ask offer to an off-market owner of a 5 acre rural property. The property was overgrown vegetation and dilapidated buildings that required bulldozing, working with count to establish an address, gain road access, etc. Besides, it had an odd, uneven topography. 

Yes. As an example, in January 2022, I was interested in a 5 acre parcel with unlivable home, and a barn, outbuildings, etc. Real estate taxes $18/year. I asked my real estate agent to reach out to the owner to offer to purchase. The property was not listed, it was just one that I pass by often and thought I'd give it a try. Owner wanted $50K.