The Land Podcast - The Pursuit of Land Ownership and Investing Jake Hofer

Patrick from St. Louis shares his experience of buying a plot of land for hunting, including dealing with high prices and challenges during his search. In this episode of the Land Podcast, Patrick talks about the financing process, making decisions, and doing due diligence before purchase. His valuable insights include advice on preparing financially and the online bidding process.

• Patrick had been saving for over a year for a down payment to purchase a plot of land primarily for hunting.
• He preferred land with more timber than tillable, with some road frontage.
• Looking for a farm within three hours from St. Louis, focusing on Illinois rather than Missouri
• Eliminating auto loans can free up funds for land purchases
• Appraisals can come in lower than expected, buyers should have a safety net or consider adjusting down payments
• The compound effect of starting small can lead to owning larger pieces of land in the future.
• Listening to podcasts and hearing other people's stories can give a comfort level and help make buying land feel more achievable.
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What is currently unfolding in the land market, and how can we utilize land and value trends 
to enhance our decision-making process regarding land acquisition?

The 2023 IL Land Report provides a comprehensive overview of the land market trends in Illinois, shedding light on the current state of the real estate landscape. The report delves into the latest land market trends and the key factors influencing farmland value and trends to empower you to closely monitor and take advantage of the ever-evolving land market and capitalise on gain.

Join the conversation as we examine historical land trends and review a recent publication of Illinois. Get market insights now and be on a competitive edge!

Let’s jump in!

Key Highlights from the Show
[00:01] Episode intro and what is in for you today
[04:04] Land auctions and transaction stabilization in the market
[06:29] Jake's story of how he bought back their original family farm in 2021 
[08:06] Land values and trends for wreck and excellent grounds  
[11:16] Cash rent and cash flow trends
[12:01] What wreck, fair, and recreational land cost in the state of Illinois 
[14:39] Soil productivity map of the state of Illinois
[15:51] Farmland price expectation for 2023 
[16:30] Some of the reasons people were selling farmland in 2022
[17:41] Buyers of farmland in 2022
[18:16] Wrap up and end of the show 



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In this episode, I talk with the founders with CommonGround.IO. We discuss a wide range of valuing cash flow from cash renting land, the future of agriculture, and what the surge in information could mean for land buyers and sellers in the future.

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When buying or selling land in real estate, there are many factors to consider beyond just the physical property itself. A successful transaction involves a mix of knowledge about land, residential properties, and investing. To make profitable deals, land buyers and sellers must be willing to learn, take risks, and even fail to move forward. It's also important to surround yourself with people who have industry experience and are doing what you want to do. Your network is truly your net worth in this industry, as it can provide valuable insights, advice, and connections that can help you make informed decisions and navigate the complex landscape of real estate transactions.
In the conversation, Russel Horn provides insight on buying and selling real estate assets to help you make informed decisions that lead to profitable outcomes. We discuss many things that land buyers and sellers should consider more when closing land and residential deals. Russel has been a real estate professional in Pennsylvania since 2017 and grew up around the world of real estate.

Now, lets jump in!

Key Highlights from the Show
[00:01] Episode intro and what is in for you today
[02:04] Russel's background and how he got into real estate
[10:38] How Russel navigates the challenges of being a professional agent
[11:36] Lessons Russel learned from his grandfather that he uses in his profession
[16:34] Finding a mentor, taking that leap, and being willing to learn and fail
[19:28] Mistakes that Russel has seen buyers and sellers make over the years 
[24:41] Trends in the market and Russel's perspective on what to expect
[31:14] Buying what you can afford without getting caught up in the excitement 
[35:00] Why waiting for prices to drop and buying later doesn't work
[38:04] Russel’s relationship with debt and how he finances his deals
[42:07] Russel’s long-term goals and end game with real estate 
[44:22] The biggest mistake that Russel has made so far 
[48:16] Building good credit and becoming a decent borrower
[54:23] How to reach out and connect with Russel
Notable Quotes 

Experience is the number one teacher.

If you want to get into a good financial position, you must put in the work, so get started.

You have to be willing to learn, not to be afraid, and ready to fail to move forward.

Surround yourself with people doing what you want; your network is your net worth.

If you can, buy it now that you have the time. 



Listen along as we cover:

Biggest Mistakes Made in Real Estate

Advice for Buyers and Sellers

What to look for in this market

Lack of Inventory Holding Prices Strong

How to Prepare for Possible Shifts in the Market


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Whether you're a seasoned hunter or a beginner, owning your own deer hunting farm can be a dream come true. But before you start setting up blinds and baiting areas, it's essential to ensure that your land is properly prepared for hunting. That's why we sit down with a veteran deer hunting farm owner, Skip Sligh, to discuss the top things you need to do before opening up your farm to hunting. 
In this conversation, we dive into the importance of timber sampling, the benefits of planting food plots for deer, and the ideal forests to grow for optimal hunting conditions. So, if you're looking to maximize your chances of a successful and rewarding hunting experience, Skip shares essential steps to take on a scenario of a 50-acre deer hunting farm. Skip is the owner of Iowa Whitetail. He purchased his first land when he was 22 years and what he has done over the last 20 years is interesting and inspiring. He has bought and sold over 200 farms and built a special track in Iowa. 
Now, let’s jump in!
Key Highlights from the Show
[00:01] Episode intro and what is in for you today
[04:19] The greatest habitat mistake farm owners make
[07:14] A 50-acre parcel case scenario
[08:37] Why the first thing Skip would do after purchasing the land is timber sampling
[16:04] How you can handle the bush hunting circles
[19:53] Third priority: growing food
[28:14] A quick recap of what you should do to your parcel in the first year
[32:09] What you should do in your second year: planting trees
[40:30] A quick list of fruit trees you can plant in the Mid-West
[47:36] More things you can do in year two
[52:52] Other projects you can do alongside optimizing your farm
[55:47] Episode wrap-up and calls to action

Notable Quotes 

Just because your farm is for hunting deer does not mean you should skip any steps of farming on the land.

Food abundance and variety are keys in deer habitat. You should spend the entire first year in your new land focusing on growing food.

Good quality timber will hold more deer and have vastly more benefits than anything you will do with native grasses. 



Connect with Skip:
Website - Iowa Whitetail
IG - Iowa Whitetail
YT - Iowa Whitetail
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Connect:

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The current land market can be a confusing place for first-time land buyers. With the economy and market climate in flux, it's important to consider the influence of commodity prices on land prices when investing. In addition, factors such as access to capital and government regulations should also be taken into consideration. With the right information and advice, first-time land buyers can make a wise decision when looking to invest in land.
In this conversation with Skip Sligh, we discussed the current land market and some advice for first-time land buyers right now in today’s economy, market climate, and everything. We also discussed commodity prices and how they may have a role in land prices moving up in the next 12-18 months, and also the influx of investors and how that may or may not impact lands. Skip is the owner of Iowa whitetail. He purchased his first land when he was 22 years and what he has done over the last 20 years is interesting and inspiring. He has bought and sold over 200 farms, and he has built a special track in Iowa. 

Now, let’s jump in!
Key Highlights from the Show
[00:01] Episode intro and what is in for you today
[02:31] What first-time land buyers need to know in the current markets
[04:35] Why you should buy land now or within two years
[07:50] What Skip wishes to have done differently in his land journey
[15:05] What he didn’t know about hunting in his 20’s but knows now
[22:00] How the increasing popularity of farmland investing has affected land prices
[33:15] Commodity prices and inflation and their impact on land prices
[40:42] Connect with Skip and episode wrap up
Notable Quotes 

On land, no one really knows what is going on. We can only deduce from the facts that are in front of us.

If you have the money, you have to buy land right now. There is no point in waiting.


Connect with Skip:
Website - Iowa Whitetail
IG - Iowa Whitetail
YT - Iowa Whitetail
Exodus Upgrade Program: https://bit.ly/ExodusUpgrade
Connect:

 https://linktr.ee/TheLandPodcast


https://linktr.ee/exodustrailcamera


https://bit.ly/TheDeerGearPodcast