[{"@context":"http:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/community.legendarywhitetails.com\/blog\/how-to-make-money-off-your-hunting-land\/#BlogPosting","mainEntityOfPage":"https:\/\/community.legendarywhitetails.com\/blog\/how-to-make-money-off-your-hunting-land\/","headline":"How to Make Money Off your Hunting Land","name":"How to Make Money Off your Hunting Land","description":"Certainly, we would all love to own a couple hundred acres of prime deer hunting property, but who can actually...","datePublished":"2016-06-29","dateModified":"2018-11-15","author":{"@type":"Person","@id":"https:\/\/community.legendarywhitetails.com\/author\/hagosto\/#Person","name":"Hector Agosto","url":"https:\/\/community.legendarywhitetails.com\/author\/hagosto\/","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d7bfedbdc5ef3ed8f8df91eb37e1ffbe?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d7bfedbdc5ef3ed8f8df91eb37e1ffbe?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Legendary Whitetails","logo":{"@type":"ImageObject","@id":"http:\/\/community.legendarywhitetails.com\/wp-content\/uploads\/2018\/09\/logo-legendary-whitetails.png","url":"http:\/\/community.legendarywhitetails.com\/wp-content\/uploads\/2018\/09\/logo-legendary-whitetails.png","width":522,"height":226}},"image":{"@type":"ImageObject","@id":"https:\/\/community.legendarywhitetails.com\/wp-content\/uploads\/2016\/06\/Logging.jpeg","url":"https:\/\/community.legendarywhitetails.com\/wp-content\/uploads\/2016\/06\/Logging.jpeg","height":800,"width":1200},"url":"https:\/\/community.legendarywhitetails.com\/blog\/how-to-make-money-off-your-hunting-land\/","about":["News"],"wordCount":1750,"keywords":["Land & Habitat","Tips"],"articleBody":"Certainly, we would all love to own a couple hundred acres of prime deer hunting property, but who can actually afford to?\u00a0 Not many of us, that\u2019s who. For the majority of us, even owning just 40-80 acres seems impossible. This is precisely why I\u2019m here to change your \u201ccan\u2019t-do\u201d attitude into a \u201ccan-do\u201d attitude. The latter of which allows you to actually act towards fulfilling your dreams.You\u2019re not getting any younger, and land isn\u2019t getting any cheaper. Which is exactly why you need to start saving today.\u00a0 Contrary to popular belief, hunting land may be more affordable than one would think. Use creative options to fuel your desire to own hunting land.Partner UpIt\u2019s no secret, the more partners you have, the more funds you\u2019ll have to buy a hunting property.\u00a0 Partnerships are great when they work out, but they can also turn ugly and ruin friendships, so choose wisely.\u00a0 Partnerships work best when all parties can be trusted and have their principles clearly laid out ahead of time.\u00a0 Everyone involved should have similar hunting goals and expectations of one another.Partnering up is a great\u00a0way to add funds and enjoyment to a hunting property.You never think any issues will come up between you and your hunting buddy when you\u2019re signing the offer, but you need to be prepared just in case. Forming a Limited Liability Company (LLC) or at the bare minimum, a legal contract between parties is highly advisable.This talk isn\u2019t meant to scare you out of a partnership, as they can be extremely beneficial, but rather to make sure you are covered when potentially hundreds of thousands of dollars are at stake. A healthy partnership will make owning and hunting a property much more enjoyable and affordable.Make the Land Work for YouIt applies the same principles as the age old investor saying, \u201cMake your money work for you. Don\u2019t work for your money.\u201d\u00a0 Here\u2019s a few investor savvy strategies that can turn your dream hunting property into an income producer.CASH RENT CROPLANDThe first\u00a0strategy that many hunters are familiar with is to rent out any farmland.\u00a0 In this Wired to Hunt Podcast, Dan Perez, owner of Whitetail Properties, talks in great length about using this strategy as a means to own large amounts of hunting land in the Midwest, properties that ultimately earn an income.As deer hunters, we often look for properties with an ideal mixture of timber and farmland. The more farmland there is, the more rent you can collect.\u00a0 Use this strategy as a means to lower your monthly payment, help with property taxes, or even make you money on your property.\u00a0 Of course, the fertility of the ground and current crop prices will ultimately dictate the amount of income potential.\u00a0 Here in Wisconsin, most farmers are paying anywhere from $100-$150\/acre to lease out for farming rights. To put this into perspective, let\u2019s say you are looking to buy a 100-acre property and 60 acres are tillable.\u00a0 Farmland is currently renting for $125\/acre, which would leave you with an annual income of $7,500 . . . not bad for sitting back and doing nothing!HARVEST TIMBERTimber harvest may also be an income generator from a hunting property.\u00a0 Selling off timber is a bit more complicated than simply handing a lease over to a farmer every year.\u00a0 Going into a property, it\u2019s always wise to have an experienced forester along to walk you through the process.\u00a0 Just because you see a lot of trees doesn\u2019t mean there\u2019s a profit behind them.\u00a0 A lot of factors can impact the value of a timber stand such as: size of trees, species, accessibility, and current market conditions. The one nice thing about timber compared to ag crops is that it grows year round.\u00a0 This allows you to time the market over the course of several years, all while the timber volume increases.As a buyer, you should have a game plan for what to do with and after the harvest.\u00a0 Will you be doing a clear-cut? Selective thinning? High-grading?\u00a0 Each option will impact the amount of income you can earn immediately and in the future.\u00a0 Since trees grow relatively slow, it\u2019s important to plan it out right the first time.\u00a0 Understand what the impacts of cutting are in terms of income and property value before and after to help you decide what the best path is moving forward.LEASE OUT HUNTING RIGHTSWait, what?\u00a0 You\u2019re probably asking why would this dude tell me to lease out my hunting land to other hunters if I bought it for hunting?\u00a0 But, before you get your undies in a bundle, let me explain some ways it could benefit you.Scenario 1: Maybe you\u2019ve always wanted land to enjoy with your family as a recreational property.\u00a0 Hunting is one benefit the property offers, but it may not take precedence over how you utilize it.\u00a0 Maybe you strictly gun hunt and wouldn\u2019t mind leasing it out to a bowhunter for a little extra income. Depending on the area, you could potentially get a pretty decent chunk of cash if you leased it out for bowhunting \u2013 which by the way, has fairly low odds of success.\u00a0 In the end, you get a check and the opportunity to gun hunt with your family.Scenario 2: You end up buying a large property that can easily hunt multiple people.\u00a0 Instead of always having hunting buddies who don\u2019t pay a dime hunt it, maybe you lease it out with the agreement that both of you will be hunting it.\u00a0 Now, you\u2019re getting a check while still being able to hunt effectively.\u00a0 Heck, you might just find a new (paying) hunting buddy while you\u2019re at it.Scenario 3:\u00a0 You buy land near your permanent residence, but the only way you could buy the land is if you bought it with the existing house and outbuildings.\u00a0 Since you live nearby you don\u2019t have any use for the buildings, so you decide to rent them out.\u00a0 Now, you\u2019re getting a monthly rent check to help pay off the mortgage, while still owning the land to hunt on.Bonus tip: With sites like Airbnb and HomeAway it\u2019s now easier than ever rent out your cabin or home for extra income while you\u2019re not using it.\u00a0 You might be surprised by what people will pay for a little seclusion.Leasing out hunting rights isn\u2019t fit for everybody, but it can be an advantageous income stream if need be.Buy > Sell > RepeatHere\u2019s a strategy that is often overlooked by potential land buyers.\u00a0 Most hunters who are thinking about buying land tend to set a target price and acreage amount from the get-go and won\u2019t act until they can afford their final destination.\u00a0 This could take years and years of saving or even worse, it may never come to fruition.\u00a0 Instead of waiting on your dream, why not act now?\u00a0 Nobody said you had to buy your \u201cdream\u201d property from the get-go.\u00a0 In fact, the education gained from buying a smaller tract or tracts of land before purchasing your \u201cdream\u201d property is invaluable.\u00a0\u00a0 You\u2019ll learn exactly what to look for, what you like or dislike, how much work and money projects costs, etc.Starting small with an end goal of improving and selling down the road is a great method for working your way up to bigger properties.\u00a0 Remember, land can be a great and profitable investment if you buy right and improve the property.\u00a0 If your end goal is to own 200 acres of prime deer hunting land, start with a 20 or 40-acre property.\u00a0 Throw some food plots in, create a good trail network, maybe a water hole or two, and remove any junk to add instant equity into the property, while also improving its value for a future sale.\u00a0 Not only will the property look nicer to future buyers, but it\u2019ll also probably hunt better.Once you sell the small property, you can use a 1031 tax exchange to defer capital gains taxes by rolling profits into another property.\u00a0 Using the buy>improve>sell method along with the 1031 exchange, you can acquire your dream property faster than you ever thought possible, all while having your own deer hunting property along the way.\u00a0 Short term sacrifices can lead to long-term gains.Final ThoughtsSo you see, owning and affording your dream hunting property may not be as impossible as you once thought.\u00a0 The beauty of many hunting and recreational properties is that many of these options coexist \u2013 you can partner up with a hunting buddy, do some improvements, cash rent the cropland, harvest some timber, and sell it at a later date for a profit.\u00a0 Bottom line is creativity is often the fastest vehicle to reaching your dreams.RELATED:\u00a0THE FIRST STEPS TO BUYING A HUNTING PROPERTY"},{"@context":"http:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"https:\/\/community.legendarywhitetails.com\/#breadcrumbitem","name":"Legendary Whitetail's Blog"}},{"@type":"ListItem","position":2,"item":{"@id":"https:\/\/community.legendarywhitetails.com\/blog\/how-to-make-money-off-your-hunting-land\/#breadcrumbitem","name":"How to Make Money Off your Hunting Land"}}]}]