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10/20/2017 1:01:18 AM
9/22/2017 12:11:25 AM
Posted: 8/2/2005 7:21:46 AM EDT
[Last Edit: 8/2/2005 7:22:42 AM EDT by Quarterbore]
I have a line on a 150-acre farm in the finger lakes region of New York that may be available in the next two years for about $200,000. The farm is in a nice location for tourist trafic during the summer and mainly weekends...

We have talked about options including:

Building a campground (But for taxes I may need to keep it Aggrecultural)
Establishing a stable with horse riding lessions and boarding
Opening a gun range (but this is New York)
Setting up the farm to raise Beef Cattle (curently a Hog opperation)
Setting it up as a hunting club and lease the land

The farm has been in the family for a long time... say 60-years... and my Uncle is just getting older and his health is getting bad enough that he needs to get out of farming. My cousins are not interested in running the farm and frankly my wife and I make too much money at our jobs to consider moving to that region without having a clear business plan and money comming in...

I am pretty sure I need to keep the farm land as aggrecultural to help keep the property taxes reasonable and it will also allow me to get a longer mortgage...

We have some great minds here... how can you have a 200-acre farm pay for itself so that I can lock up the land and keep it in the family... The farm is just down the road from the Watkins Glen Race Track along the main road into the track...

Thanks for any thoughts or suggestions...
Link Posted: 8/2/2005 7:23:56 AM EDT
Sharecroppers. Company store. High interest.
Link Posted: 8/2/2005 7:24:41 AM EDT
x-mas tree's or apple orchard?
Link Posted: 8/2/2005 7:25:17 AM EDT
Link Posted: 8/2/2005 7:25:19 AM EDT
It's pretty tough to make a farm pay for itself even when you are around all the time.
Link Posted: 8/2/2005 7:37:14 AM EDT
forget about paying for itself, you may be able to get enough income to cover the taxes and a few payments. I'd suggest renting the grassland to another farmer and maybe renting out some buildings under the table for storage.
You're better off considering it as a weekend retreat and possible investment than a money-maker.

Link Posted: 8/2/2005 7:43:56 AM EDT
Sex with Anima……..Ooooppps…..wrong thread……Sorry……
Link Posted: 8/2/2005 7:46:13 AM EDT
you can't
Link Posted: 8/2/2005 7:48:27 AM EDT
A labor pool made up of illegal immigrant children, toiling in a hellish environment and subsisting on a diet of water, rice and cockroaches.
Link Posted: 8/2/2005 7:51:04 AM EDT
[Last Edit: 8/2/2005 7:52:00 AM EDT by Dolomite]

Originally Posted By DzlBenz:


That stuff is supposed to be very dangerous. Check out the personal protective equipment this warrior is sporting for his own safety:


Watch out! It's a pot lab!
Link Posted: 8/2/2005 7:52:26 AM EDT

Originally Posted By Dolomite:

Originally Posted By DzlBenz:
www.marijuanaparty.com/images/logo_blanc_150px.gif


That stuff is supposed to be very dangerous. Check out the personal protective equipment this warrior is sporting for his own safety:

www.sptimes.com/News/072901/photos/drug-bust.jpg
Watch out! It's a pot lab!

Cool! Tactical hedge clippers! w00t!
Link Posted: 8/2/2005 7:54:23 AM EDT
[Last Edit: 8/2/2005 7:55:24 AM EDT by killingmachine123]
I would say leasing it to rich hunters may be the way to go. My roomates aunt and uncle do that. I hear that they make a pretty penny off of people who lease the land for a couple weeks of the season to take clients there. This place is about 250 acres just north of the metro detroit area though, so it has be come prime reaestate for anyone that likes to hunt close to home. Also there is most certainly the high end clientel that lives in the hood too. Might not be that easy where your place is located.

In before the clowns.

ETA: looks like I just missed the IBTC.
Link Posted: 8/2/2005 12:23:45 PM EDT
Put in a Christmas tree farm. Plant them and wait about 7-10 years between harvests. Cut one down, plant 2-3 more and you're set.
Link Posted: 8/2/2005 12:25:39 PM EDT
I'd either rent the land to a farmer or charge hunters to use it
Link Posted: 8/2/2005 12:26:12 PM EDT
Don't expect the farm to pay for itself. Use it as a tax shelter.

Lease the land to a nearby farmer. Hay, crops, grazing etc. The leasing will help pay for the farm and write the rest off on your taxes.
Link Posted: 8/2/2005 12:28:55 PM EDT
i agree, lease the land for farming and see if you cant lease it again for hunting.
Link Posted: 8/2/2005 1:11:08 PM EDT
Rent the land. Sell wood to the race-goers at superinflated prices. Heck, rent space on the land to campers at super-inflated prices. You have too much competition in the area from area gun clubs to make a go of it as strictly a range unless you are willing to sink big bucks into the project and have a Blackwater or Gunsite level operation
Link Posted: 8/2/2005 1:13:52 PM EDT
Can you still get land put into the CRP program?


The government steals money from the people, and then gives it to you to not farm the land.

Link Posted: 8/2/2005 1:18:15 PM EDT
Rent the land or grow lumber.
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