texashuntingforum.com logo
Main Menu
Advertisement
Affiliates
Advertisement
Newest Members
Bill Marshall, Nicholasbe, Sondiana, med, flyfisherman
68235 Registered Users
Top Posters(All Time)
dogcatcher 106,426
bill oxner 81,177
stxranchman 57,303
SnakeWrangler 56,754
RKHarm24 44,585
rifleman 44,461
Gravytrain 42,067
BMD 41,171
Forum Statistics
Forums45
Topics600,087
Posts11,258,727
Members83,235
Most Online19,184
Feb 5th, 2020
Print Thread
Land Brokers/Realtors I have a Question #8024924 10/27/20 12:11 AM
Joined: Mar 2011
Posts: 203
O
oldstyle244 Offline OP
Woodsman
OP Offline
Woodsman
O
Joined: Mar 2011
Posts: 203
I have a group of guys, we have been leasing hunting land for probably a decade now and never had any issues. We were taking the other day, what if some of us created a group/trust and bought land together instead of leasing. How does that work? I have bought and sold homes, but not sure how you go about buying land with multiple owners?

Thoughts?

Re: Land Brokers/Realtors I have a Question [Re: oldstyle244] #8025057 10/27/20 01:49 AM
Joined: Aug 2005
Posts: 27,364
T
txtrophy85 Offline
THF Celebrity
Offline
THF Celebrity
T
Joined: Aug 2005
Posts: 27,364
typically you would form a LLC. and have a percentage of the LLC. owned by each individual OR have it in individual names with undivided interests, meaning every person owns X amount each acre.

it sounds good on paper but the fact is that its really hard to get more than 2 people to agree on much of anything. I've seen two people succesfully own a ranch but anymore than that and problems arise quickly.


I've never seen it successfully done long term, and I've been selling ranches for 12 years and been around them for over 25. Even family has a really hard time owning a piece of property together







For it is not the quarry that we truly seek, but the adventure.
Re: Land Brokers/Realtors I have a Question [Re: oldstyle244] #8025441 10/27/20 01:06 PM
Joined: Nov 2014
Posts: 6,189
M
Mr. T. Offline
THF Trophy Hunter
Offline
THF Trophy Hunter
M
Joined: Nov 2014
Posts: 6,189
It can be done, just be prepared to spend a years worth of lease money upfront on a attorney. So many things have to be spelled out.
What if one dies and wife is not interested in the property. What are her rights to sell. What if one moves for a job and wants to sell.
What if one looses job and can't make payments. Where is the money going to come from for fixing fences, roads, any structures on the
property. Money for equipment....a tractor, etc. There is so much more to owning land than just the price of the land. What if there are
5 of you and 4 want to build a $25,000 cabin but the 5th does not.
Lots to think about. But it can be done.


Cabin rental in Pagosa Springs, Co.
Sleeps 10, If interested please PM me.
Re: Land Brokers/Realtors I have a Question [Re: oldstyle244] #8025454 10/27/20 01:15 PM
Joined: Nov 2018
Posts: 746
F
fishdfly Offline
Tracker
Offline
Tracker
F
Joined: Nov 2018
Posts: 746
Along with financial details, there is the work load to consider. It has to be split fairly.

Future relatives, how, when and what are the rules going to be for them to come to the land?

Father bought a ranch with 2 other guys, did not work out.

Re: Land Brokers/Realtors I have a Question [Re: oldstyle244] #8025757 10/27/20 04:16 PM
Joined: Jul 2014
Posts: 79
TX_Birddog1L Offline
Outdoorsman
Offline
Outdoorsman
Joined: Jul 2014
Posts: 79
All of the responses above contain great feedback to follow...if you do it then you want to put a ton of time (and unfortunately legal expense) into as many "what if" scenarios you can come up with and create the most detailed LLC and operating agreement (rules & expectations) as possible to cover each and then some...as mentioned above, financial reversals, death, divorce, dispute, violation of operating agreements, etc...all can cause major issues...if possible try to carve out exactly who owns what and then the other partners have right of first refusal to purchase a partner's piece at a set price or per a pre-determined & agreed to calculation if they need or want to sell...if a fall out were to occur it's best that everyone know exactly how the situation is unwound...but, believe me, there is no way to account for every possibility and when people want to they can get an attorney and make a legal argument out of just about anything...you better really trust your buds and you need to take their family, business and personal lives into serious consideration.


Last edited by TX_Birddog1L; 10/27/20 04:18 PM.
Re: Land Brokers/Realtors I have a Question [Re: oldstyle244] #8025814 10/27/20 04:44 PM
Joined: Mar 2020
Posts: 274
B
booskay Offline
Bird Dog
Offline
Bird Dog
B
Joined: Mar 2020
Posts: 274
The reply's seem to be in total agreement ------ in short ------ great theory, but DON'T DO IT !!!! LOL .

Re: Land Brokers/Realtors I have a Question [Re: booskay] #8025898 10/27/20 05:29 PM
Joined: Apr 2013
Posts: 2,875
F
freerange Offline
Veteran Tracker
Offline
Veteran Tracker
F
Joined: Apr 2013
Posts: 2,875
Originally Posted by booskay
The reply's seem to be in total agreement ------ in short ------ great theory, but DON'T DO IT !!!! LOL .

X2. Never say never but the odds are this is good advice.


Keep your gratitude higher than your expectations. RWH
Re: Land Brokers/Realtors I have a Question [Re: oldstyle244] #8026370 10/27/20 11:17 PM
Joined: Sep 2004
Posts: 3,026
E
easton1025 Offline
Veteran Tracker
Offline
Veteran Tracker
E
Joined: Sep 2004
Posts: 3,026
this idea is how 20k acre ranches become 120 acre tracts 2 generations later...Too many varibles divorce,children,death for 6 people to do....Land is a great investment by yourself....If you have the means to buy by yourself do so and have 5 guys pay a lease few that will cover you 5 months..Capital farm credit has great dividend checks that cover 2 months of my mortgage...Then you are left with 5 months you have to cover....

Re: Land Brokers/Realtors I have a Question [Re: oldstyle244] #8026651 10/28/20 01:14 AM
Joined: Aug 2009
Posts: 17,523
B
BigPig Offline
THF Celebrity
Offline
THF Celebrity
B
Joined: Aug 2009
Posts: 17,523
Too much headache for me. I’ve got a few friends that ask me every year to do this with them and it’s always a hard NO for me. I know there can be benefits to it, but the headache involved just makes me not want a thing to do with it.

Besides, I can lease a place for a long time before I ever get close to what it would cost me to own a place. Also, I know I can’t afford the size place I want, where I want, and if I ever get tired of the lease I’m on I can find something else that suits me faster than if I own something or a pet of something


Wade Dews, REALTOR ®
"The Bigley Group"
Premier Legacy Real Estate, LLC.
www.PremierLegacyRealEstate.com
WDews@premierlegacyrealestate.com
214-356-2410

Re: Land Brokers/Realtors I have a Question [Re: oldstyle244] #8026848 10/28/20 02:24 AM
Joined: Aug 2016
Posts: 1,864
D
Dalroo Offline
Pro Tracker
Offline
Pro Tracker
D
Joined: Aug 2016
Posts: 1,864
Friend’s father and 3 of his buddies bought 1200 acre place in early 70s and had a pretty good thing for nearly 30 years. They had owners week first week of rifle season, then a rotating schedule for remainder of season by week when they could bring friends/family/clients. Nice lodge and a manager that kept things running in exchange for grazing rights. During season a local couple would cook and clean for tips and did quite well.

All went along well until the original owners started passing away, or simply became too old to enjoy. They then voted to sell and made a HUGE payday.

Lessons - it can work, but you have to set pretty firm rules, be willing to compromise at times, and the big one, be RICH to start.


Dalroo
Deep in the Heart of Texas
No matter where you go, there you are...
Re: Land Brokers/Realtors I have a Question [Re: oldstyle244] #8027710 10/28/20 05:26 PM
Joined: Mar 2011
Posts: 203
O
oldstyle244 Offline OP
Woodsman
OP Offline
Woodsman
O
Joined: Mar 2011
Posts: 203
I am getting the impression that you all are not in favor of this idea LOL

I get and appreciate all the comments, it is an idea we thought about, but to be honest, i am not 100% if we actually went down that road who could afford to do it and who is just saying it is a great idea

Re: Land Brokers/Realtors I have a Question [Re: oldstyle244] #8028808 10/29/20 01:24 PM
Joined: Nov 2014
Posts: 6,189
M
Mr. T. Offline
THF Trophy Hunter
Offline
THF Trophy Hunter
M
Joined: Nov 2014
Posts: 6,189
Easy way to find out. Hold a meeting and tell everyone to bring a $2,000 check to cover their part of attorney fees
on setting this up. You may be the only one at the table. lol.


Cabin rental in Pagosa Springs, Co.
Sleeps 10, If interested please PM me.
Re: Land Brokers/Realtors I have a Question [Re: oldstyle244] #8028958 10/29/20 03:11 PM
Joined: Mar 2013
Posts: 3,241
J
jetdad Offline
Veteran Tracker
Offline
Veteran Tracker
J
Joined: Mar 2013
Posts: 3,241
This is a good way to lose friends. In a group something unexpected is going to happen to one or more members over time. Not saying it can't work, but odds are against a group staying intact. Stuff has a way of happening.

Re: Land Brokers/Realtors I have a Question [Re: oldstyle244] #8029095 10/29/20 04:57 PM
Joined: Jan 2011
Posts: 19,274
E
Erathkid Offline
THF Celebrity
Offline
THF Celebrity
E
Joined: Jan 2011
Posts: 19,274
Buy your own smaller place.


Life is too short, as is. Don't chance it.
Don't text and drive.
Re: Land Brokers/Realtors I have a Question [Re: oldstyle244] #8029168 10/29/20 06:05 PM
Joined: Nov 2018
Posts: 746
F
fishdfly Offline
Tracker
Offline
Tracker
F
Joined: Nov 2018
Posts: 746
Unless the wives are all friends and totally by in, there is another source for problems.

Re: Land Brokers/Realtors I have a Question [Re: oldstyle244] #8029450 10/29/20 09:39 PM
Joined: Jul 2008
Posts: 3,469
B
Big_Country01 Offline
Veteran Tracker
Offline
Veteran Tracker
B
Joined: Jul 2008
Posts: 3,469
How big is the group?


Re: Land Brokers/Realtors I have a Question [Re: BigPig] #8029470 10/29/20 10:01 PM
Joined: Apr 2013
Posts: 2,875
F
freerange Offline
Veteran Tracker
Offline
Veteran Tracker
F
Joined: Apr 2013
Posts: 2,875
Originally Posted by BigPig
Too much headache for me. I’ve got a few friends that ask me every year to do this with them and it’s always a hard NO for me. I know there can be benefits to it, but the headache involved just makes me not want a thing to do with it.

Besides, I can lease a place for a long time before I ever get close to what it would cost me to own a place. Also, I know I can’t afford the size place I want, where I want, and if I ever get tired of the lease I’m on I can find something else that suits me faster than if I own something or a pet of something

^^^The second paragraph of this is me for sure.


Keep your gratitude higher than your expectations. RWH
Previous Thread
Index
Next Thread

© 2004-2019 OUTDOOR SITES NETWORK all rights reserved USA and Worldwide
Powered by UBB.threads™ PHP Forum Software 7.7.3