Multi Owner Ranch Questions

[STGS]

Just to add to the fodder, I noticed where Jack Brittingham is offering partial share (25%) interests in Rancho Encantado for $4.5 million each. Interesting model and I am certain there are details in the fine print that warrant due diligence.

https://www.landwatch.com/dimmit-county-texas-farms-and-ranches-for-sale/pid/408701173

[DUKFVR]

Yea and even then it will most likely be over before it starts with trying to decide who gets what piece.

Yep, no doubt!

[BigOh!]

Never

[Briar Friar]

Dont do it. Too many uncontrollable moving parts.

Really dumb regardless...but especially with financing involved...Dave Ramsey would say...STUPID!

[DEADEYE1]

ranch

Just to add to the fodder, I noticed where Jack Brittingham is offering partial share (25%) interests in Rancho Encantado for $4.5 million each. Interesting model and I am certain there are details in the fine print that warrant due diligence.

https://www.landwatch.com/dimmit-cou.../pid/408701173

Very interesting !!!!!!!!!!!

[kingranch]

nooooo!!

[kingranch]

if u can subdivide the purchase into ranch sections that you each finance seperately that would be the only way I would do it... and write into the contract that if one fails to pay that you guys would have 1st rights to purchase.

[dphillips62]

I have 2 small place that I share ownership in but I have sole say in both places. Both are inheritance properties I share with family.

[hooligan]

Con: owning land with multiple family members

[Charrison]

I have a rule - never do business with family or friends. NEVER ends well and this rule has served me very well over the years.

[FUB]

A buddy has a ranch with multiple family member owners. It's a nightmare in every aspect from utility bills, Feed, maintenance, family friends coming out hunting, etc. 12 owners plus their kids, plus guest....there's 30 people on that land every weekend.

[6.5 shooter]

It should be fine if everyone is on the same page and it’s all written up.
I would recommend that each owner have their own space to do what they want though.
Once again, have it all written up, especially if there is ever a divorce between y’all.

[Walker]

As far as survived and heirs, you can either buy life insurance payable to the heirs for their share or have a contract for first right to buy the deceased share. Form an LLC

[Chance Love]

I get asked about this a lot. Plan for the "out", meaning plan for the exit strategy. That's as simple as I can put it.

[lanceodom]

My brother and I own one together. It has worked really well. It is all about relationship and how well you get along. We do own our business together before we bought it, so we knew what our strengths and weaknesses are. We work around the issues pretty well so far. For instance, he was strongly against us getting horses. I wanted to have horses so we had another activity other than just hunting related. I finally said that I would buy them and if they didn't work out, I would sell them. If we found out they were great fun, then we would have the ranch buy them from me. Now we have six horses! He loves it and we both ride as much as possible. We use it for our friends and business but also love to be there together. I find just being considerate and thoughtful will keep the bulk of the issues at bay.