Future Farmer Preparations

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jaj64
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Future Farmer Preparations

I am currently a college student with some investments but nothing compared to my father who has a decent amount of cash. He has not been preparing but knows that something is wrong with our economy and he is beginning to want to invest somewhere. He wont buy precious metals or any commodity for that matter because he believes its crazy. He has a large cash/stock position and isnt sure what to do with  it but with me constantly nagging he has recently agreed to buy some farmland.

We are looking around the Ozarks in Northern Arkansas. I have a good idea what to do when we get the land buy how do I go about finding good prep farmland for sale? It doesnt need to have actual crops yet but we would at least like a 20+ acre ranch style place where we could grow crops.

Do any farmers or investors or preppers have any suggestions on what we should do? Any help would be greatly appreciated.

Edited by admin on 11/08/2014 - 06:06
Mike7.62
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AR land

jaj64,

I live in middle TN, and AR was one of the places where we looked and looked hard, prior to buying here. Land in AR is relatively inexpensive, but the state income tax is pretty high at 7% on anything over 100K. I'm sure that you're used to that coming from Kali, where everything is taxed. AR is a pretty state, at least in the western and northwestern portions, and if you decide to move there you will enjoy the scenery and there are plenty of outdoor activities. I do have a question for you though. Do you know anyone there? The people in the cities are like people anywhere else, i.e., accepting newcomers routinely, but in the small towns and in the rural areas they are very cliquish. They are very nice and friendly, but be prepared to be considered an "outsider" for a pretty long time. My grandfather had a farm in AR outside of Ft. Smith, and I used to spend summers there helping him out. The folks are nice, but live by the old standard of "trust but verify". They are also for the most part very religious, so if you're not, be prepared to be saved. I also have a very good friend who retired from the military in AR onto a farm, and he enjoys it immensely, but his wife had family in the area so that gave him an "acceptance" card when they arrived.

My advice is to visit the area a few times once you decide the where, and hire a realtor so you can view property on their dime and fuel. Unless you're a builder or have experience in the trades, I would highly recommend against buying unimproved land and land that has not been proven arable. There are plenty of rocky hillsides for sale cheap, but good farmland will cost more, and knowing that it will produce is a head start. Having a livable structure on the property will also make it much easier to either improve on that, or live on site while something better or more in line with your needs is built.

When you're purchasing the land, there are a few things that you need to know about it in advance. Does it have water? Land without a proven source of water is all but useless. Springs, an existing well, streams, etc are all desirable. Can it be accessed without trespassing on someone else's property? It would be a bad deal if the parcel was only accessible through a neighbors driveway or field, and could result in buying a pig in a poke. Do you as the new owner have ALL the rights to the water, minerals etc., both surface and subsurface? Very important, especially if there are gas wells or petroleum in your area. Does anyone else have a lease on the property for farming, hunting, etc., and does it transfer? Find out before purchase. Have there been any industrial sites or dump sites in the area that could affect the groundwater? Is there a lien on the property from the seller's past activities, and is the title clear and does the seller really own the property? Usually the latter is not a player especially if you're using a reputable realtor in the transaction, but title insurance is advisable regardless; the former can be, especially if the owner has had some type of farming/timber operation running prior to the sale, and might be owing people money.

Finally, make damn sure that you want to live in that area before you close on the deal, as unloading the property if you change your mind will be very problematic, especially in this market. Good luck, and if you decide to buy and move, enjoy it.

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