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ONLY $341 million? #8101788 12/24/20 12:35 PM
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Someone buy this so I can come as a guest!

https://chassmiddleton.com/land-for-sale/6666-ranch


You can't fix stupid
Re: ONLY $341 million? [Re: tlk] #8101824 12/24/20 01:17 PM
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The chinese are . But I do not think they will have you as a guest , only the bidens .

Re: ONLY $341 million? [Re: tlk] #8101825 12/24/20 01:17 PM
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The chinese are . But I do not think they will have you as a guest , only the bidens .

Re: ONLY $341 million? [Re: tlk] #8101946 12/24/20 03:20 PM
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Can't believe it's for sale. Actually not a bad price for what it is.


Donate to TX Youth hunting program.... better to donate then to waste it in taxes

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Re: ONLY $341 million? [Re: tlk] #8101952 12/24/20 03:29 PM
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Kind of surprised as well, but maybe more disappointed. Many others have done it so never a total surprise. tlk and Bobo go together and buy it and ill pay to hunt it.


Keep your gratitude higher than your expectations. RWH
Re: ONLY $341 million? [Re: freerange] #8101981 12/24/20 03:58 PM
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Originally Posted by freerange
Kind of surprised as well, but maybe more disappointed. Many others have done it so never a total surprise. tlk and Bobo go together and buy it and ill pay to hunt it.


Good friend of mine was a wagon boss for a while there.

I bet Morman Church or JBS pick it up. Another TX Icon down, well hope not but that's the normal jest.

I would if I could, I’d already wrote the check and signed the title.


Donate to TX Youth hunting program.... better to donate then to waste it in taxes

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Re: ONLY $341 million? [Re: tlk] #8101982 12/24/20 04:00 PM
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don k Online Content
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Only $1350 an acre. I have a place next to me for sale. 135 acres for $1,350,000.

Re: ONLY $341 million? [Re: tlk] #8101990 12/24/20 04:07 PM
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it's bad that these big ranches are for sale or have already sold, but what is worse is Charles calling himself Chas.

Re: ONLY $341 million? [Re: huntingbig8] #8101999 12/24/20 04:12 PM
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Originally Posted by huntingbig8
it's bad that these big ranches are for sale or have already sold, but what is worse is Charles calling himself Chas.

Reality of modern times, lots of offspring and children selling the land to get quick $$$$ instead of ranching like their parents, grandparents and earlier. Not saying right or wrong, just what is happening.

Re: ONLY $341 million? [Re: DQ Kid] #8102021 12/24/20 04:30 PM
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you hit the nail on the head

Re: ONLY $341 million? [Re: tlk] #8102206 12/24/20 07:10 PM
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I would be willing to bet a lot of the kids sell because they can't afford the property taxes on the larger places. They may be land rich, but they are revenue poor. Looks like the price dropped, because it's only listed for 192M

Reading the listing, this is interesting:

There is scattered oil production found on portions of the property. Much of the ranch has no production and where production is located, the well sites and roads have been well maintained and the production is not unsightly. All minerals are owned and one-quarter of the minerals are offered with the sale of the ranch. Royalty income has averaged approximately $400,000 - $500,000 per year for the past three years, and one-quarter (1/4) of this amount will convey. Currently, very little oil production is located on the 6666’s Ranch. In 2018, Burnett Oil Company leased the mineral rights under approximately 140,000 acres of the existing 6666’s Ranch (a copy of this mineral lease is available). Several producing wells have been drilled and this lease appears to be promising for additional development. As these minerals are developed, additional royalty income will be generated. There is no solar development or wind farm development on the ranch and 100% of the solar rights and wind generation royalty rights will convey with the sale. Property taxes are approximately $157,000 per year.

So they have 400-500K in oil royalties, but are only willing to sell 1/4 of that with the property (100K-133K). Property taxes are 157. So if all you did was live off the oil royalties, you would be 25-50K short on your property taxes. Granted, something tells me that if you had the 192M, you wouldn't accept 1/4 mineral rights and that number would go up.


Thanks,
Rich
Re: ONLY $341 million? [Re: tlk] #8102666 12/25/20 03:07 AM
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The Matador ranch is also for sale.130,000 acres+/-

Re: ONLY $341 million? [Re: gtrich94] #8102701 12/25/20 03:31 AM
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Originally Posted by gtrich94
I would be willing to bet a lot of the kids sell because they can't afford the property taxes on the larger places. They may be land rich, but they are revenue poor. Looks like the price dropped, because it's only listed for 192M

Reading the listing, this is interesting:

There is scattered oil production found on portions of the property. Much of the ranch has no production and where production is located, the well sites and roads have been well maintained and the production is not unsightly. All minerals are owned and one-quarter of the minerals are offered with the sale of the ranch. Royalty income has averaged approximately $400,000 - $500,000 per year for the past three years, and one-quarter (1/4) of this amount will convey. Currently, very little oil production is located on the 6666’s Ranch. In 2018, Burnett Oil Company leased the mineral rights under approximately 140,000 acres of the existing 6666’s Ranch (a copy of this mineral lease is available). Several producing wells have been drilled and this lease appears to be promising for additional development. As these minerals are developed, additional royalty income will be generated. There is no solar development or wind farm development on the ranch and 100% of the solar rights and wind generation royalty rights will convey with the sale. Property taxes are approximately $157,000 per year.

So they have 400-500K in oil royalties, but are only willing to sell 1/4 of that with the property (100K-133K). Property taxes are 157. So if all you did was live off the oil royalties, you would be 25-50K short on your property taxes. Granted, something tells me that if you had the 192M, you wouldn't accept 1/4 mineral rights and that number would go up.



From what I have seen and read is they have it in 3 separate pieces. That 192m is only one part of the ranch..not the whole thing

Re: ONLY $341 million? [Re: tlk] #8102734 12/25/20 04:14 AM
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If only I'd have been born filthy rich instead of just dashingly handsome.

Re: ONLY $341 million? [Re: tlk] #8102908 12/25/20 02:56 PM
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Drive past there every time I go to the lease. Hope whoever buys it keeps it while rather than splitting it into smaller tracts


Originally Posted by bill oxner
I plowed mules.
Originally Posted by Roll-Tide
I did build a cabin. Aka the brokeback shack.

[Linked Image]
Re: ONLY $341 million? [Re: DQ Kid] #8103208 12/25/20 07:21 PM
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Originally Posted by DQ Kid
Originally Posted by huntingbig8
it's bad that these big ranches are for sale or have already sold, but what is worse is Charles calling himself Chas.

Reality of modern times, lots of offspring and children selling the land to get quick $$$$ instead of ranching like their parents, grandparents and earlier. Not saying right or wrong, just what is happening.



From what I understand it was the wishes of the matriarch that the ranch be sold and the proceeds given to the beneficiaries.

Two ways to look at it....it’s the end of an era but a lot of those mega ranches were clannish and not many people got to enjoy them. Look at Brad Kelly’s ranch....400 + thousand acres and no one using them save for a few cowboys


For it is not the quarry that we truly seek, but the adventure.
Re: ONLY $341 million? [Re: txtrophy85] #8103388 12/25/20 11:29 PM
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Originally Posted by txtrophy85
Originally Posted by DQ Kid
Originally Posted by huntingbig8
it's bad that these big ranches are for sale or have already sold, but what is worse is Charles calling himself Chas.

Reality of modern times, lots of offspring and children selling the land to get quick $$$$ instead of ranching like their parents, grandparents and earlier. Not saying right or wrong, just what is happening.



From what I understand it was the wishes of the matriarch that the ranch be sold and the proceeds given to the beneficiaries.

Two ways to look at it....it’s the end of an era but a lot of those mega ranches were clannish and not many people got to enjoy them. Look at Brad Kelly’s ranch....400 + thousand acres and no one using them save for a few cowboys


If I owned only a handful would enjoy it also, I wouldn’t go commercial


Donate to TX Youth hunting program.... better to donate then to waste it in taxes

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Re: ONLY $341 million? [Re: gtrich94] #8103392 12/25/20 11:35 PM
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Originally Posted by gtrich94
I would be willing to bet a lot of the kids sell because they can't afford the property taxes on the larger places. They may be land rich, but they are revenue poor. Looks like the price dropped, because it's only listed for 192M

Reading the listing, this is interesting:

There is scattered oil production found on portions of the property. Much of the ranch has no production and where production is located, the well sites and roads have been well maintained and the production is not unsightly. All minerals are owned and one-quarter of the minerals are offered with the sale of the ranch. Royalty income has averaged approximately $400,000 - $500,000 per year for the past three years, and one-quarter (1/4) of this amount will convey. Currently, very little oil production is located on the 6666’s Ranch. In 2018, Burnett Oil Company leased the mineral rights under approximately 140,000 acres of the existing 6666’s Ranch (a copy of this mineral lease is available). Several producing wells have been drilled and this lease appears to be promising for additional development. As these minerals are developed, additional royalty income will be generated. There is no solar development or wind farm development on the ranch and 100% of the solar rights and wind generation royalty rights will convey with the sale. Property taxes are approximately $157,000 per year.

So they have 400-500K in oil royalties, but are only willing to sell 1/4 of that with the property (100K-133K). Property taxes are 157. So if all you did was live off the oil royalties, you would be 25-50K short on your property taxes. Granted, something tells me that if you had the 192M, you wouldn't accept 1/4 mineral rights and that number would go up.



I seriously doubt that they struggle to pay a $1 an acre a year in taxes. Horse sales alone cover the taxes, you still have cattle, any ag/CRP and minerals.


Donate to TX Youth hunting program.... better to donate then to waste it in taxes

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Re: ONLY $341 million? [Re: txtrophy85] #8103400 12/25/20 11:46 PM
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Originally Posted by txtrophy85
Originally Posted by DQ Kid
Originally Posted by huntingbig8
it's bad that these big ranches are for sale or have already sold, but what is worse is Charles calling himself Chas.

Reality of modern times, lots of offspring and children selling the land to get quick $$$$ instead of ranching like their parents, grandparents and earlier. Not saying right or wrong, just what is happening.



From what I understand it was the wishes of the matriarch that the ranch be sold and the proceeds given to the beneficiaries.

Two ways to look at it....it’s the end of an era but a lot of those mega ranches were clannish and not many people got to enjoy them. Look at Brad Kelly’s ranch....400 + thousand acres and no one using them save for a few cowboys



Eventually always goes to Trust. Nothing worse then asking a bank if you can hunt your own land


Donate to TX Youth hunting program.... better to donate then to waste it in taxes

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Re: ONLY $341 million? [Re: tlk] #8103404 12/25/20 11:50 PM
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In my opinion which means squat here it is. I thing the selling of it is a good idea. To own that many acres how can you really enjoy it? You would probably never see the whole ranch. To try to actually make money off it you would need a lot of help. And you best hope you could trust the manager. Selling it would then maybe down size it into places that folks would be able to enjoy it without all the headaches of trusting others to the managing. And as always it is just my opinion which may or not stink.

Re: ONLY $341 million? [Re: tlk] #8103621 12/26/20 04:55 AM
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You’re buying a business, that looks like a ranch.

Charlie


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Re: ONLY $341 million? [Re: huntingbig8] #8103637 12/26/20 05:51 AM
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Originally Posted by huntingbig8
but what is worse is Charles calling himself Chas.


I believe Chas passed away over 60 years ago. He rode in to Lubbock in the 1800’s and started up their operation. They have kept the business name. The Middleton’s are great people.

Re: ONLY $341 million? [Re: tlk] #8103659 12/26/20 12:08 PM
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Taxes are probably not a consideration. Nor do they have to mess with cattle. They can have a wildlife exemption. Some years back, the Texas Legislature expanded exemptions for rural landowners. Back then, it was all about grazing. THen the old folks died off and their heirs had little interest in working or grazing the land. They were citified but without cows the taxes were killers. So the Texas Legislature enacted a wildlife exemption. Can you say lobbyists?

As a small, 133 acre, non resident landowner I also benefit from it. When it was enacted, I promptly sold the cows and started managing for wildlife. I can pick 4 of 7 or 8 things to do. I do more than 4 just to be safe and have to file an annual report.

The Counties aren't real enthusiastic about lower taxes so I do an extensive report with pictures of protein feed, stock tanks, food plots, kids hunting/fishing etc. Without the exemption, taxes would kill me and force me to sell.

THe bottom line is that the heirs don't value the land and/or heritage like the old folks did.


Without a sense of urgency, nothing ever happens.

Boy, if I say "sic em", you'd better look for something to bite. Sam Shelley, Rancher Muleshoe Texas 1892-1985 RIP
Re: ONLY $341 million? [Re: tlk] #8103677 12/26/20 12:55 PM
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Not many of the huge old ranches got that way by the founders being "nice guys" and "community minded".

And just because someone had property doesn't make them a conservationist concerned about the land. I've watched how long it takes a little place to come back from having umpteen years of way, way too many sheep on it.

We have the cedar problem we have today thanks to overgrazing.


...and have dominion over the fish of the sea, and over the fowl of the air, and over every living thing that moveth upon the earth. Gen. 1:28
Re: ONLY $341 million? [Re: tlk] #8106682 12/29/20 03:36 PM
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"No commercial hunting has ever been allowed on the property." That's pretty incredible to think how native all of the animals still largely undisturbed on that property. What a remarkable piece of property that has been meticulously cared for 150 years.

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