sending you a pm.

Honestly, buying that amount of land with the intent to grown big deer is very, very hard. It has to be in a very good location that allows you to siphon deer off of a much larger tract of land. It certainly can be done, but remember location, location, location. If your sole purpose is deer hunting, get a lease If its to have an investment in the future, I think its a good idea (just bought 140 AC's myself). I was looking for the right place/price for about 2 years before pulling the trigger.

Thanks Kevin!

This has been a really informative thread! I hope to own a piece of Texas soil one day too.

We went through capital farm credit to finance the raw land.We have a 30 yr mortgage and had to put 20% down.Capital farm is usually 2% above prime unless they have changed. Most banks dont like to finance raw land or more than 15 acres, even with a house it. Usually if ag exempt in some way you will pay only a fraction of the taxes. You can look what the person paid the year before online or the realistate agent will tell you. But i will tell you the cheapest taxes is usually on tree production even cheaper than other types of ag.

Do these rates change if you purchase land with a small house on it? Say you purchase 50 acres with a little 1400 sq. foot home, wouldn't it then fall under a typical home loan with a better rate thus saving you money?

Interest rates are really low for people who are keeping cds in the bank. You may consider trying to buy the land on a land contract. I have worked on alot of these and they work really well if the seller does not need all the money up front. You can negotiate your down payment any where from ten to twenty percent down. Since a "CD" only pays one to three percent, sometimes the seller is happy to get 5 to 6 percent on there money. In short, the seller becomes your banker.

hey guys i need some help....im looking to buy some land somewhere close to dallas county and i found one in bowie county..does anybody know how the hunting is down there?any good sized bucks??

East Texas? Good luck unless it is big! Unless you want live on property, you better get something big like 1000+ acres or you better lease if you want to manage deer. When you can pay $9 an acre for somerhing worth $2,500 an acre, not a bad deal to lease... No guarantee it will go up and it hasn't in 8 years.

how about red river county..anybody know about the hunting there...and thanks txduckman.

Getting into land ownership is hard - Getting out might be harder. Owning can be relentless work and with limited results. At this stage of the game I don't think I would recommend it. Perhaps when you could count on values to rise it made more sense., But it isn't so today, in fact the land prices are falling in many areas. I get the "run your own place" thinking but you most definatly can lease cheaper. Yes, I'm trying to throw ice water on the idea as a favor to a wavoring future land owner. Just pay the lease fee and roll on brother.

might keep this in mind, the more improvements you build the more your taxes will be.

one thing to consider is...you own it, you are never broke.

Great thread. Alot of good info here. So, my brother and I are looking for a place between here and Oklahoma City - we have family there that would use the place. So far, we've considered several places in Texas and Oklahoma. My question is this: If I live in Dallas, and deer and turkey hunting are the most important thing to me, how far east can I go and still be pleased with the place? For example, there is a place in Titus County out by Mt. Pleasant. Are there any deer out there? Anyone know anything about the deer and Turkey in Atoka, OK? Thanks

Yes, there are deer in titus county. The hunting is so-so ;there may be a few turkey (eastern strain) more novelty than serious hunting population. Not to belabor the point but reread what I'm telling you about land ownership (reply above) Don't do it --- I'm your best buddy right now trying to save you from yourself.
As far as if you own it you are never broke --- uh, your always broke, taxes,repairs, that one more project to get it just right.

Thanks, olducker. I appreciate the insight. Regardless of lease or own, anyone else know how far east from Dallas I can go and still have a good place to Deer and Turkey hunt? Maybe I'm asking the wrong question. Put it this way: where is the best country between OKC and Dallas, to hunt deer and turkey (can go east or west a bit)?

YellowDog, I have owned several pieces of Texas and Okla, currently have a place in limestone county. Turkeys east of 1-35 in Texas are hit an miss, have a buddy with a place outside of Atoka that has turkeys but they are not over run with them. like olducker says there is always one more project to do.. but if you have family and friends there is no better place to bond than your own land. As far as being broke that has not happened to me, if you want it buy it, life is short and I have never seen a casket with a cash lock box in it.....

I have now owned my property for about a year now and am loving it. Is it costing me more than a lease, YES. But it is also nice to know that I'm the owner and any improvements I do on the property is mine. I don't have to worry about leases being pulled out from under me or dealing with others. Mine is only 65 acres, but my main hunting is ducks so the 50 acres of wetlands is what I wanted.
The one thing you want to keep in mind is try to get something within reasonable driving distance if you have a family. Trying to mix in family time and working on the property is hard if you are driving more time than spending on the land.
Money isn't going to get any cheaper to borrow than it is now. Most land is at the lowest you are going to find it. So if you have the means to do it now, I say go for it.
YellowDog31 - Try to get something east of I-35 around the Red River, either side of it.

Some have suggested using qualified money (i.e. inside a retirement plan) to purchase real estate. While I am not providing specific tax advice, I would caution that personal use of that land could cause the entire basis (purchase price) or a portion thereof to be a deemed distribution. Additionally, placing debt on property purchased with qualified money can cause issues as well. It can possibly be done but I would suggest using one of the companies that specialize in that area.

Another suggestion is to not just get a real estate broker but get a broker with experience in ranch sales. There is a big difference. A farm/ranch broker can evaluate the value of standing grass and timber. This can help you determine what food sources are available. Do the same when you get the appraisal. A farm/ranch bank will know this but a standard bank may send out your standard residential appraiser. Usually the bank drives the choice but you can make sure you are getting someone that knows ranch land.

You can also consider buying a place that has adjacent crop land. You can lease the crop land to help defer the carrying costs. This type of set up COULD (consult your tax advisor) allow you to deduct some of the carrying costs. Consult a tax advisor experienced in farm/ranch as they can give you more insight than someone with less experience.

If you own land that is not your primary residence and want to sell it for better land, consider a tax free exchange, specially if you have a gain on it I.R.C Section 1031. There are different ways to do this and you need to plan this IN ADVANCE.

If you don't turn it into a farm/ranch property have your tax professional consider attaching an election to your return to capitalize carrying costs. This can add usually non-deductible expenses to the basis (cost) of the property so when you do sell it you will have less taxable gain.

If you don't have the mineral rights, consider the likelyhood that someone may want access to those minerals someday. With some restrictions, you cannot block access to the minerals. This means if you own the surface rights and they want to drill on your property, you may not have a lot of say, but you can and will get reimbursed for damages.

Consider the environmental aspects. If you buy land in certain areas and it is determined that those areas have habitat conducive to endangered species, you may lose your ability to hunt the property. Not likely to happen but it needs to be considered. Under the current legal framework, if you discover endangered species on your property you are held hostage, not rewarded, which is why SSS seems to be the standard operating procedure. Bassackwards incentive but that is what you get with congress.

Once you start to own land, specially if it is out of state, update your will and if you have little ones I would suggest a trust be created. Talk to a lawyer, I'm not one but I play one TV.

Just my 175/hr suggestions but free for all of you who keep our hunting traditions alive.

Last bit of advice. Talk to your attorney and tax professional. Don't assume anything is chisled in stone.

Great posts and information from all.

Some more FYI I thought Id pass on.

I just got off the phone with Heritage land bank. He said my wife has to be on the loan app. Which is a deal killer because we just got married and her credit has some bruises from a few years back.

Also on the down payment, most banks are just looking for equity to start, not necc money out of you pocket. If you buy land for 1500 and acre and it appraises for 21-2200 an acre you wont have to come out of pocket almost anything

If you have a sizeable nest egg and you don't need at retirement, the qualified money ie (ira) is a good avenue. Just be careful, no personnel use. All money made on leasing off ag or hunting rights have to go back in ira capsule. Take out an acre or two for your home. Get a professional company to handle for you and pay a small maintenance fee per year. Entrust in Houston Tx. is such a company for self directed investments.If you buy now and land goes up, you will pay apprasial price (which could be exorbitant) when you decide to start removing it back out of ira. But I would check with a pro. My 2 cents.

Great post....Hopefully getting ready to take the plunge in Montague county or Leon County. Budget is $200,000...25% down....

If there are no structures your Home Insurance/Liability will cover it. Depending on who as access to your land and what you do with it...you will want to consider raising your liability coverage

Anyone have experience with using the Texas Land board route for a loan?

Everyone. I'm new to this forum and am amazed at how much info is freely shared between all of you. I, myself, have been looking to buy some acreage and this info has been very informative. Thanks!