Agricultural land ...

Hello all. This is sort of a general question. Does anyone have insight on buying rural land and then leasing it out for agricultural purposes (crops, grazing, etc.)? I've just begun doing some homework on this possibility, so I am open to any resources or personal experiences you may have had.

Thanks for any assistance.

 

I had some land a long time ago in Wyoming. The agricultural products made upkeep tidy, difficult, and expensive. I would advise against it.

 

My family used to do this. Though not in a business like way, we just owned fields around the house and didn't need most of it, so we rented it out to a friend for a small price. Obviously in our situation this was a good idea since we didn't need it and already had it, so we constantly get something from it.

Now if you are looking into buying some land for this specific purpose, then it's time to start calculating what kind of a return you will be getting and if you can get the same return from somewhere else.

 

It's tricky to break into, and depending on the land, you're not going to see as quick of a return on your investment as you would from trading stocks. You really need to know what land you're buying, and what you can do with it. So do your research extensively before you buy anything, and see what the market out there for different farms is.

 

I think if I'd buy rural land, I'd do what I see a lot of in my area... resell to an organization wanting to build some kind of subdivision. I can't see myself buying that kind of land for the purpose of just renting it out.

But those developers who want to build a lot of homes or townhouses in a rural setting... they often don't mind paying top price for that land. (Of course there are things like zoning to take into consideration but we have a lot of "neighborhoods" being built close to me that I would have sworn would only be zoned for agriculture... not so!)

 

I would really love to buy a large plot of agricultural property. I want to use part of it for a small farm/homestead for myself and my BF, then I would like to lease out the rest to a farmer. I figure that then I would have a nice income coming in from leasing the land, but I would still have land attached to my own that I could take back over if necessary in the future.

 

Im planning to buy a agricultural property because i love farming, can any one suggest what should and how should be the agricultural land's soil

 

I'd probably contact my county's agriculture extension agent with these questions. They'd be able to tell you all about the best kind of soil, what would be your best cash crops, and so on.

 

I agree. One of my family members did this and they ended up regretting it big time. I would definitely consider the pros and cons before following through with this. Best of luck!