Posted by: TerraSaver | February 27, 2016

SOME OPTIONS FOR BEING A HOBBY FARMER OR RANCHER

Paddocks for crops 1238x430

4 Acres Fenced with Water

ACQUIRING THE PROPERTY  One option of course is to purchase a country property – either land with the intention of building, or property that already has structures on the property.  Additional options include leasing or leasing with option to purchase.

CO-VENTURING If the objective is to be a part-time hobby farmer or rancher, co-venturing with either the lessor or a neighboring property may be desirable.  Many agricultural activities such as livestock require daily supervision and if your plan is to live off the property or visit on the weekends, this type of arrangement can work.  An example of co-venturing would be to purchase cattle and have the owner manage your cattle along with his own.  This would allow veterinary services to be scheduled and supervised as part of a larger herd and would also mean that equipment normally needed may be available from the co-venture partner.  Farming crops or orchards may not require daily oversight but regular supervision is necessary in most instances.  If the property you are leasing is part of a larger property, or a neighboring property is developing an agriculture program and possibly a brand, there may be an opportunity to participate.  Say for example olives, apples, pears.  Even if your operation is a hobby – there are still maintenance and harvesting schedules to be maintained and depending on the crop they can be very time sensitive.  Co-venturing can be a solution.

REALISTIC EXPECTATIONS  A ‘hobby’ is usually intended to be small scale and to generate enjoyment and personal satisfaction.  It is also an opportunity to ‘put a toe in the water’, gain an education and find out if personal objectives can be met regarding the property and involvement in agriculture.  Seldom do agriculture operations, including grapes, conducted on a small scale generate a significant financial return – but that is usually not the objective with hobby farming or ranching.

REAL ESTATE ATTORNEY A real estate attorney should be used to review any documents relating to leases, lease options or co-ventures.

Please let us know if we can provide additional information by e-mailing us at Chanslor2660@gmail.com

 

 

 

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Categories

%d bloggers like this: