live+work in Cali but own ranch out of state

[buffybr]

Colorado is an attractive alternative if Montana is full I hear. Wyoming is full up too.

I am 5th generation Colorado (my Great Grandfather was born in Denver when Denver was a town of 5,000 people) but Colorado became too crowded for me when I left in 1975.

I still have family in the Denver area that I visit a half dozen times a year so I have to travel through Wyoming, and yes I can see that Wyoming is full.

 

[DouglasR]

. I was thinking about trying to do the same thing but in Montana or Wyoming and than just hiring a ranch foreman to look after the property and my livestock when I’m in California working.

*then

Idk much about ranching, but I’m gonna assume establishing a break even/profitable livestock operation and “ than just hiring a ranch foreman to look over it” for you while you live several hrs away is a bit more difficult than setting up a lemonade stand.
But since you’re a GC from California and I’m a low skill uneducated from Illinois I’m gonna assume you know a hell of a lot more about it than me.
#businessgenius
P.s. Rich people keep buying their way into my line of work and making it increasingly difficult to compete and idk how much longer I’m gonna be able to hold on for... So if that ranch foreman job opens up HMU... I’d love to live in Wyoming or Montana and be able to get a elk tag for $50 or so as opposed to $675 as a non resident in Colorado.

 

[2rocky]

Where he's "looking" his expectations better be not hunting much. For starters, there aren't many bigger ranches for sale around Thayne. Lots of 10-50 acre pieces with houses springing up on them. That area is also very expensive being so close to Jackson.

Unless you can find 160+ acres, with 2000 animal use days a year, he will not be getting many tags to hunt with on his new hunting property. Region G NR deer tags, are maybe a once every 5-6 year deal, best case. NR General elk, maybe once every 2-3 depending on how much money you want to spend. Wyoming residency requirements are also one continuous year and there are requirements on the number of days you have to live in state each year after that.

Astute observations Buzz.

Besides all the Tech Billionaires are pushing the Millionaires out of Jackson to places like Pinedale, Afton and Bondurant...

Long story short, Folks are buying out of state places with money from selling higher priced real estate and looking for somewhere to do a 1031 exchange. They aren't making payments from a job salary.

Show me someone who can service this kinda Debt and Cash flow, and I'll show you a money launderer....

 

[LuketheDog]

Colorado is an attractive alternative if Montana is full I hear. Wyoming is full up too.

Colorado filled up about 10 years ago...

 

[2rocky]

I think I found our guy....

https://www.tmz.com/2019/09/06/kanye-west-buys-14-million-wyoming-monster-lake-ranch/

 

[dirtnap_nation]

How old are you?

25 but I own my own contracting business

 

[dirtnap_nation]

How old are you?

25

 

[antelopedundee]

Why would you want to loose money in tough years running cattle you own. I would lease the place to some one else and let them take all the risk of owning cattle. Might not make as much money in the good years but a lot less headache.

I'd never lease property to someone like that unless I could keep an eye on them. They'd have to have impeccable references and "ranching" practices. Not much worse than an bad tenant IMO.

 

[Rancho Loco]

25 but I own my own contracting business

My suggestion which will most likely go nowhere, as someone who played the game in California for almost as long as you've been walking, get through your first downturn before thinking about anything like this.

 

[dirtnap_nation]

My suggestion which will most likely go nowhere, as someone who played the game in California for almost as long as you've been walking, get through your first downturn before thinking about anything like this.

It’s a 45 year contracting business I took over from my pops it’s a very successful business that first started plumbing with a type 36 and fire sprinklers and hydrants than we started general contracting and now I just got my type 42 sanitation systems license and I’m look to get my remediation license for all the flood calls we get for plumbing so we’re a one stop shop. My pops may invest in the property with me and he owns a lot of property that I help him manage (we don’t use property managers we do it all ourselves) so I’d have an experienced property owner helping me but I get where your comin from thanks for the advice

 

[antlerradar]

I'd never lease property to someone like that unless I could keep an eye on them. They'd have to have impeccable references and "ranching" practices. Not much worse than an bad tenant IMO.

This is so true. I have seen some disasters happen to absentee owners that lease to the wrong person. Owning your own cattle will not necessarily help you avoid getting taken. I have also seen ranch managers that will steal you blind when you are not around and owning the cattle will just up your vulnerability. It is always wise to thoroughly look into people you do business with.

 

[Zach]

Astute observations Buzz.

Besides all the Tech Billionaires are pushing the Millionaires out of Jackson to places like Pinedale, Afton and Bondurant...

Long story short, Folks are buying out of state places with money from selling higher priced real estate and looking for somewhere to do a 1031 exchange. They aren't making payments from a job salary.

Show me someone who can service this kinda Debt and Cash flow, and I'll show you a money launderer....

I'm friends with Mike, the folks in your linked video. I've sat down and talked with him about cost as I started building my cattle herd. There are lots of things folks outside the business don't think of, Mike was one of them before coming to the ranch to help his FIL. I'd say very few cow/calf operations become millionaires.

 

[Zach]

My suggestion which will most likely go nowhere, as someone who played the game in California for almost as long as you've been walking, get through your first downturn before thinking about anything like this.

As a recovering and relocated Californian, you'd know.