Page 6 – Land & Ranches for Sale in Western & Southeastern United States

Wyoming is called the “Cowboy State” and “The Forever West” for a reason. It is a destination for nature adventures where the majestic Rocky Mountains meet the High Plains. On Wyoming’s rangelands and vast plains, you’ll find some of the largest ranches throughout the United States.

Looking to start a ranch operation in Wyoming? You couldn’t have chosen a better place. Wyoming has a rich agricultural heritage that lives on to this day. It is also one of the top ten states in the country with the most ranch land for sale.

Finding the right ranch in Wyoming is not without its challenges, but this guide and our team of Ranch Brokers can help point you in the right direction.

AN OVERVIEW OF WYOMING’S AGRICULTURAL INDUSTRY

Agriculture has always been an integral part of the Wyoming economy and way of life. Today, as a $2 billion dollar industry, it is one of the top three industries in the state. Comprising about 47% of all land use, the farms and ranches in Wyoming are considered some of the largest in the United States. According to the 2017 Census of Agriculture, the average size of a Wyoming farm is 2,340 acres – more than five times the national average.

Cattle is the largest agricultural commodity, making up about 65% of all agricultural products sold. The state’s cattle industry dates back to the mid-1800s when the advent of the railway allowed for better trade throughout the West and beyond.

In 2020, Wyoming ranked as the second largest wool and lamb crop producer in the United States. Considered as some of the finest in the country, Wyoming wool consistently fetches an excellent price in the market.

According to the USDA, other leading farm commodities in the Cowboy State include hogs and pigs, hay, sugarbeets, barley, and beans.

RECREATIONAL USES OF FARMS AND RANCHES

As important as agricultural production is to Wyoming’s economy, many farms and ranches here are also widely used for outdoor recreation, particularly hunting and fishing.

A Wyoming ranch for sale can be rich ground for game species such as elk, moose, deer, and antelope, as well as upland birds, duck, and other waterfowl. And as a “headwaters state” providing water to streams and rivers in other parts of the country, many ranches in Wyoming also offer excellent opportunities for fly fishing.

Other outdoor recreational activities include hiking, boating, camping, mountain biking, wildlife and bird watching, and horseback riding, as well as winter sports such as skiing, sledding, and snowboarding.

Live Water Properties represents some of the best ranches in Wyoming where blue-ribbon rivers, creeks, and streams offer excellent fly fishing opportunities right out the door or just a short ride or drive away. Surrounded by some of the most iconic views in the West, these properties offer the perfect getaway, with endless nature adventures waiting for you and your guests right in your own backyard.

HOW TO CHOOSE THE RIGHT LAND FOR SALE IN WYOMING

With so many excellent options to choose from, finding the right Wyoming ranch for sale can be a daunting task. Ranch ownership comes with both a hefty responsibility and numerous benefits. To successfully manage both, you must first and foremost select your property carefully.

Here are some important tips to keep in mind:

Understand your reasons for buying a ranch
People want to be ranch owners for a variety of reasons, and the first thing you need to do is to be crystal clear about yours. Your purpose for ranch ownership is crucial to determining the type of property to buy, as well as the size, the location, the terrain, and other factors.

Questions you need to ask yourself include:
- Do you intend to start an agricultural business or are you simply looking for a hobby farm or a recreational retreat?
- Will you and your family live on the ranch as your permanent home? Or use it as a seasonal retreat?
- What activities or farm operations do you want to engage in? What type of livestock will you raise? Will you be growing crops in addition to raising livestock?
- Do you plan to use your ranch for recreational activities like hunting and fishing?
- How much time and money are you willing to spend to develop the land?
- Do you want to run a guest or dude ranch?

Determine the size of the land you need
The ideal size for a ranch depends on the activity you want to do on the property as well as the property’s location. If you’re raising cattle or sheep, you must consider the right acreage for pastureland. You also need to allocate space for non-grazing needs, such as structures for the animals and a home for you, your family, and the workers on the ranch.

If you intend to make a living out of your ranch, you’ll need a large property to raise enough livestock for a profit. But if you simply want to raise a few cows and sheep, and perhaps some horses for your personal needs, a smaller area will suffice.

In determining the right ranch size, the most important factor to consider is the land’s carrying capacity, which can vary from one location and one ranch to another. A knowledgeable broker can help you understand and determine the right carrying capacity for your needs. Additionally, you will want to value the water sources for ranching (more on this later.)
Find the right location
As in any other real estate type, location is important in choosing a ranch for sale in Wyoming.

Land in more remote areas can cost less, so buying a property farther from main roads and towns can be a great cost saving opportunity. If you want utmost privacy, a more isolated location can also give that to you.

A remote location, however, can also mean more difficult access to basic necessities, such as farm supplies, veterinary care, and your personal needs. If you don’t intend to live on the ranch, you may also need to take a longer trip every time you visit, or add a private runway for faster service.

In many places around Wyoming, most ranches are never too far from excellent amenities, including schools, grocery stores, and other destinations that are important to the entire family.

Recreational ranches, in particular, offer a complete lifestyle package that marries nature and outdoor activities with urban comforts. You’ll find hunting and fishing properties with great access to entertainment, dining, and shopping options, as well as to major regional and international airports like Jackson Hole Airport, Idaho Falls Regional Airport, and Salt Lake City International Airport, as well as Casper Natrona County International Airport, Sheridan County Airport, Cody Yellowstone Regional Airport, Denver International Airport, and more.

With its rich natural resources, Wyoming offers a multitude of options for a hunting or fishing ranch. Northern Wyoming is traditionally associated with recreational ranches. Encompassing parts of Yellowstone National Park and Bridger-Teton National Forest, as well as Bighorn Lake, the Shoshone River, and most of Bighorn National Forest, the region teems with big game species such as moose, deer, elk, grizzly bear, and bighorn sheep. Game fish like trout, catfish, walleye, and bass also abound.

Southeastern Wyoming is also a good place to start your search for recreational ranches for sale. Home to the North Platte River and reservoirs like Glendo and Guernsey, as well as acres of forests and mountain ranges, the area also boasts an abundance of game and fish species.
Make sure you have water rights and access

In looking for a Wyoming ranch for sale, always ask about water sources. Continuous access to water is very important to a ranch operation. You need it to grow forage and crops, as well as to provide drinking water for your animals. A property with a flowing river or stream is ideal, but without this, a well or stock water can serve the purpose. You can also opt to construct a stock tank or dam as a source of drinking water for your livestock.

If a property uses a well for irrigation, find out how much water it produces in gallons per minute. This will give you an idea on the value of the well.

Before buying a ranch – whether to raise livestock or for recreational uses – it’s crucial to understand water rights in Wyoming, which can be unique from any other state.

Unlike underground water that you can access anytime, surface water in Wyoming is owned by the government, and may be used by property owners only under an appropriation law. The law essentially states that the first users of a water source get priority in using the water. In many cases, the first users received their water rights decades ago.

However, in Wyoming, water rights are considered property rights, and are transferred along with any transfer of ownership of the land they are attached to. So when looking at ranches for sale in Wyoming, get assistance from your Ranch Broker in determining if there are water rights that come with a property.

Water rights are also important for recreational ranches. For hunting, you need constant and adequate water supply to create and sustain a habitat for wildlife.

You must also understand how Wyoming’s water rights law impacts fishing in private properties. While Wyoming’s surface waters are owned by the government, streambeds, stream banks, and islands within a private property are owned by the landowner. This means that the landowner has control over who gets access to them. A person may float down a stream or river over private land but they cannot anchor, wade fish, or fish from the banks or islands within the property without the owner’s permission.
Survey improvements made on the land
Some ranches come with existing structures and improvements, which may be more cost efficient than building your own from the ground up. However, you need to determine if the existing structures are aligned with your needs. Check their condition and usability as well. If they’re too old, have not been properly maintained, or do not serve the purpose you’re looking for, you may have to tear them down and build new ones.

If you’re raising livestock, fencing is an important structure to consider. Not only can it keep your animals enclosed on your property, it can also prevent livestock that are not yours from grazing on your land. According to the Wyoming Wildlife Foundation, Wyoming’s “Fence Out” policy puts the burden on landowners to fence their property to keep unwanted cattle out. On the other hand, the state has a “Fence In” policy for sheep, meaning ranchers are responsible for fencing their properties to keep their herd from wandering out.
Know the laws of ranch ownership in the state
Ranch and farm operations are widely regulated in Wyoming. Before buying a ranch, make it a point to understand the laws and regulations governing this property type. In addition to water rights, the most important regulations to know are those related to mineral rights, conservation easements, land surveys, and leasing. Attorneys and land trusts in the area are especially helpful.

It’s also crucial to learn about land use and zoning regulations in a location you’re interested in. These vary from county to county so make sure to work with a local expert who can guide you in understanding these laws and help you avoid costly mistakes.

Wyoming provides incentives for owners of private hunting and fishing ranches in recognition of their contribution to providing habitat for game species. For example, a landowner with at least 160 acres of contiguous land may apply for landowner tags for one or more species, provided their property is found to have supported each species for an equivalent of 2,000 days of use over the last 12 months. The tags are strictly for use by the landowner and their family only.

WHERE TO BUY RANCH LAND IN WYOMING

With the tenth largest land area among all US states and the smallest population of only around 600,000, Wyoming is home to vast swathes of land that are perfect for ranching. You’ll find a wide array of choices practically anywhere in the state, ranging from traditional cattle ranches to recreational hunting and fishing grounds.

These are some of the best places to start your search:

Jackson, WY

Jackson boasts a breathtaking location between the Gros Ventre and Teton Mountain Ranges, south of Grand Teton and Yellowstone National Parks. The county seat of Teton County, one of the wealthiest counties in the United States, Jackson is a popular tourist destination largely because of its proximity to world-famous ski resorts such as Jackson Hole Mountain Resort, Snow King Mountain Resort, and Grand Targhee Resort, as well as to the Bridger Teton National Forest and Yellowstone National Park.

However, it’s not all about the outdoors in this vast nature playground. There’s also plenty of culture, shopping, and dining to be had, thanks to the city’s fantastic array of shops and restaurants, art galleries, museums, and performing art venues.

Ranging in size from 35 acres to 1000+ acres, ranch properties in Jackson also make great investments as dude ranches or simply as tranquil getaways. Whether you’re looking for a ranch surrounded by nothing but open space or want a property closer to urban destinations, Jackson has the perfect option for you.
Cody, WY

Named after “Buffalo Bill” Cody, this quaint historic city relishes its Wild West origins like no other. To this day, rodeos play an important role in the Cody culture, earning it the distinction as the Rodeo Capital of the World.

Cody boasts the only access to the eastern part of Yellowstone National Park, and the Cody-Yellowstone area offers spectacular scenery you won’t find anywhere else. Other legendary Wild West sites in the area include the Shoshone River and Shoshone National Park, Bighorn Basin, and Rattlesnake Mountain.

With the frontier town heritage remaining strong in Cody, it comes as no surprise that ranches of all sizes dot the landscape. These properties range in size from around 35 acres to more than 1,000 acres, and serve a wide variety of purposes, including cattle raising, hay production, and as dude and guest ranches.
Pinedale, WY

Nestled in an alpine valley surrounded by three mountain ranges – Wind River Range, the Wyoming Range, and Gros Ventre Mountains – Pinedale is a true Western town where the spirit of adventure is alive and thriving. Each year, the town welcomes numerous backpackers who come to conquer the area’s popular hiking and climbing destinations such as Cirque of the Towers, Titcomb Basin, and the Continental Divide Trail.

Fishing on Fremont Lake, Green River Lakes, and other lakes and rivers in the area is also a popular local activity. In the winter, visitors come for excellent skiing, snowmobiling, ice fishing, and other winter activities. Meanwhile, Pinedale’s downtown area provides plenty of shopping and dining options, and the town’s festivals highlight the rich local culture and traditions.

Proudly calling itself “The true Wyoming”, Pinedale has a deep cattle ranching tradition, with the town’s Green River Drift considered as the oldest and longest cattle drive in the country. Pinedale, Wyoming ranches for sale range in size from35 acres to over 1,000 acres, and while many of these properties are used for cattle raising, they also offer excellent fly fishing opportunities.
Dubois, WY

A hidden Wyoming gem, Dubois boasts an authentic Frontier town feel where cowboys, square dances, log cabins, and rodeos are everyday fixtures, particularly in the summer. Boasting a diverse and breathtaking landscape of badlands, pine forests, lakes, and rivers, Dubois is unmistakably an outdoor haven.

Fishing on the Wind River, as well as horseback riding and hiking along historic trails are popular activities in the summer, while snowshoeing, skiing, ice fishing, and dog sledding are rampant in the winter. The close proximity to Yellowstone National Park and the Grand Tetons also add to the town’s nature-filled allure.

Dubois, Wyoming has ranches for sale with over 1,500 acres, but you’ll also find smaller properties of about 100 acres or less. Many provide exceptional fishing opportunities and access to hiking and riding trails as well as Wyoming’s sought after public lands.
Sheridan, WY

Sheridan combines historic Old West charm with modern conveniences, making it one of the most visited places in Northern Wyoming. With the majestic Bighorn Mountains serving as a spectacular backdrop, Sheridan offers a wealth of outdoor adventures – from horseback and ATV riding on open ranges and mountain trails to hunting in the Sheridan and Bighorn National Forests and fishing on the Tongue River.

With its rich and fabled past, Sheridan is also the region’s cultural epicenter. It has no less than 10 listings in the National Register of Historic Places and its downtown area features quaint buildings hosting fantastic shops and restaurants. Sheridan’s festivals are also well attended by locals and visitors from all over the country.

Ranches in Sheridan serve a wide variety of purposes. You’ll find dude ranches, recreational retreats, and cattle and agricultural ranches in a wide range of sizes – from 35 acres to over 1,000 acres.
Saratoga, WY

Located in Southeastern Wyoming, Saratoga is best known for its hot springs and exceptional fishing. People from all over the world come to enjoy the relaxing and rejuvenating waters of the Saratoga hot springs, particularly the famous Hobo Hot Springs.

Meanwhile, anglers flock to the town for an excellent catch of rainbow, cutthroat, and brown trout in the town’s many streams and rivers – especially on the North Platte River and the Encampment River which have been designated Blue Ribbon Streams by Wyoming’s Game and Fish Department. And as home to big game species like elk, moose, deer, and antelope, Saratoga also offers plenty of hunting opportunities.

Saratoga features recreational ranches of great value, a number of which offer blue ribbon fishing opportunities. There are also quite a few working ranches as well as properties with plenty of investment potential as guest ranches and tranquil getaways. Sizes range anywhere from 35 acres to over 1,000 acres.

LIVE THE AMERICAN ADVENTURE WITH YOUR VERY OWN WYOMING RANCH

Whether you’re looking to start an agribusiness or are simply dreaming of living off the land, there’s a Wyoming ranch for sale that’s perfect for you.

Given all the nuances of buying and owning a ranch in Wyoming, it’s essential to work with an experienced and knowledgeable local real estate agent who specializes in ranch properties.

Let the team at Live Water Properties guide you through this journey. The team’s exceptional brokers all have first hand experience in buying and selling recreational properties throughout the West and Southeastern United States, and they leverage this in depth knowledge to help clients succeed in their real estate undertakings.

Have confidence knowing that a team of experts is by your side at every step of the process. Get in touch with the Live Water Properties team today at [ai_phone href=”+1.866.230.2695″]866.230.2695[/ai_phone] or drop them a note here.

Located 70 miles north of San Antonio and 78 miles west of Austin, Fredericksburg, TX is an idyllic town in the heart of the Texas Hill Country. Though most travel by car or commute from one of the major airports, the Gillespie County Airport is a few miles outside of town for those flying privately. With 1.2 million visitors a year, the town is bustling with tourists tasting Texas wines, exploring vast ranches, and discovering the slow pace of life available just outside the city.

If you haven’t been convinced to make the trek, we spoke to Mark Harman, our Texas Broker, to get his 10 things to love about Fredericksburg, Texas.

Mark Harman is experienced with all Fredericksburg has to offer. He supports his love for the outdoors as a member of the Coastal Conservation Association Texas, Pheasants Forever & Quail Forever, Ducks Unlimited, and Texas Dove Hunters Association. He is also a member of the National Sporting Clays Association. Thus, he is an avid bird hunter.

What drew Mark to Fredericksburg? He and Pam were living north of Dallas in 2007. They were thinking of downsizing since their children had become young adults. They toyed with leaving North Texas, and the “itch” had become trips to visit his dad on a ranch in Fredericksburg. Quietly, Mark and Pam both decided that “nothing ventured, nothing gained” was their new mantra, and in January 2008, Fredericksburg was it, their new home.

Here is Mark’s list of 10 things to love about Fredericksburg, Texas, after calling it home for 13 years.

Enchanted Rock State Natural Area – Enjoy hill country views from this massive pink granite dome. Whether you hike to the top, around the base of the rock, or climb in the crevices, there is something for every adventure-seeker to enjoy. 
Wineries – Affectionately named “the Napa of the south,” Fredericksburg is home to over 45 wineries and vineyards. The hilly terrain, limestone soil, and sunny conditions provide ideal growing conditions for stubborn grapes. Favorites include Southold Farm + Cellar, Ab Astris, and Slate Theory.0
Museums – Escape the Texas heat by visiting the National Museum of the Pacific War. Dedicated to all those who served in the Pacific War, the historic building is now a premier museum about World War II’s Pacific Theater. In 2020, it was recognized as the fifth-best history museum in the United States by USA Today readers. If traveling with children, the Pioneer Museum is a must-see. Walk around the 3.5-acre grounds and explore the historic homesteads and buildings donated by founding families of Gillespie County like a one-room schoolhouse, log cabin, Sunday house, bathhouse, barn, and smokehouse.
Wildflowers – The Texas hill country boasts fields of flowers in the springtime! Some of the best wildflowers can be seen at Wildseed Farms – a tasting room and flower farm located off Highway 290. Or take a car ride along Willow City Loop to see the flowers in their natural element. For those looking for a more hands-on experience, book a tour and pick your own flowers at Windmill Meadow Farms.
Farmers Market In the spring, summer, and fall farmers and growers gather in the historic Marktplatz to sell their crop. The Fredericksburg Farmers Market is open from 4 pm. to 6 pm. on Thursdays. Enjoy fresh produce, local pizza, and wine on the lawn at the park.
Roam Ranch Texas bison graze the vast fields at this regenerative farm in Fredericksburg. Roam Ranch offers events throughout the year like guided hunts, ranch tours, and harvests. Connect with the food you eat by experiencing this one-of-a-kind farm just outside of town. 
Photo from RoamRanch.com
Historic Charm Hallmark movies come to life during the holidays in Fredericksburg. Each season brings a new parade down Main Street like Christmas, Fourth of July, and the Gillespie County Fair. Bring your folding chairs and grab a coffee or drink from one of the tasting rooms on Main Street and enjoy the small-town charm.
Photo from vaudeville-living.com/
Local dives No small-town experience is complete without a visit to a local dive. Luckenbach, Texas is known for its post office and dance hall. Visit on a weekend and see live country music in this historic German settlement. 
Photo from @LuchenbackTx
Lady Bird Johnson Park  The local municipal park offers golf, hiking trails, tennis courts, and a public pool. Reserve a pavilion to host a group for the day or just enjoy nature for a couple of hours.
Peaches Fredericksburg is known for two things: wine and peaches. During peach season, drive down any major highway and see dozens of farmstands selling peaches. Snag a bag of the juicy fruit or opt for homemade peach ice cream or cobbler, and enjoy the sweetest peach you’ve ever had.

With so many adventures to explore, Mark is available nearly 24-7 to explain all of these extra gems in and around Fredericksburg. His email is [email protected] and his cell is (214) 733-4239. Ranches for sale in Fredericksburg and the Hill Country of Texas will elevate your quality of life. Please reach out to Mark today.

The Importance of Ranching and Agriculture in the United States

“Almost all of us take agriculture for granted,” says the Agriculture Council of America. To recognize the “greatness of agriculture,” they founded National Ag Day in 1973 to create awareness about agriculture’s role in modern society. How many of us stop to think about where our food comes from when we sit down to eat? American ranchers and cowboys are some of the most iconic personas in our country, yet some of the least understood and appreciated. Behind that mystique are the hard-working families that labor day in and day out to feed our country.

We wanted to hear firsthand from families engrained in ranching about the state of agriculture in the United States. They work the land themselves. It’s not like what you see on TV. There is no large staff of hired help. It is 24/7, and there are no vacation days. They do it for various reasons, but they all love the lifestyle and recognize their work’s importance in feeding our local communities and country.

Meet the Ranchers

Montana

Greg Putnam and Tim Sheehey met while serving together as active-duty Navy SEALs and are now partners in Little Belt Cattle Co (LBCC). Tim, his brother Matt, and Greg started the ranch together that would become LBCC in 2020. “After looking at the food production system in America and realizing how important it was to our counties nation, we a recognized that a large number of acres were currently coming out of production. We started to assess how the system would be able to sustain itself as we know it without new producers starting agriculture businesses? We realized that it couldn’t, so that’s what we did. Today Little Belt Cattle Co has built a sustainable supple chain that raises cattle from start to finish all in Montana, that includes direct to consumer beef.

Wyoming

For generations, the Lyman family has worked hard and sacrificed to build Lyman Ranch Company to what it is today. Reed Lyman, his parents, and three brothers own and operate the ranch today. In 1914, his great-grandfather homesteaded along the Bighorn Mountains in Wyoming. His grandfather, who Reed notes had only a 7th-grade education, put together a few pieces of land and “scraped together every penny he could, even taking money out his kids’ piggy banks” to put a down payment on land in Tensleep. They worked from “daylight to dark.” The ranch was passed down to Reed’s father and his brothers. His dad was able to go to college – as would Reed and his brothers. His dad took his knowledge from banking and range management classes and kept taking advantage of good opportunities as he saw them. The family switched from raising sheep in the 50s to black Angus. At the time, Herefords were the area’s most common breed of cattle, and the Lymans were one of the rare families to raise Angus.

The Importance of Ranching to our Nation

While these families and ranches are different, ranging from multigenerational to first-generation, with ranches throughout the country, they quickly recognize and highlight the importance of ranching to our nation. “The food system is critical to the security of the United States,” says Putnam. “The U.S. is one of the few that can self-sustain within our own borders.” Putnam has seen the places without reliable food systems firsthand: “I honestly believe it is a critical component of what makes this country great.”

“The country, in general, has forgotten where its food comes from,” says Lyman. “It’s such a misbelief. As we see now, with any commodity, if you depend on another country, you’re at their mercy. We need to feed ourselves and the country,” says Lyman.

Threats to Agriculture

One of the reasons Putnam and Sheehy formed LBCC was witnessing the removal of acreage from our food systems. “There is a big threat with the subdivision of productive acres for development, recreation, or other things. There is a breaking away, but at some point, when there is not the ground needed anymore to sustain the system. It fractures the system down. It becomes unsustainable.

“I’d encourage people buying to take a good look and find the good partners to keep those acres in ag. And not get displaced by the misconception if you graze cattle, there won’t be grass for elk or that you would be degrading the land you bought. In actuality, you will be helping. Find the right production partners to help develop these as great holdings and businesses and keep them in this system because we need you, and we need this acreage.”

To Lyman, one of the biggest threats to agriculture is politics and the miseducation surrounding ag. Agriculture has been “mispainted” by many. Many quickly point to it and say it’s not environmentally friendly, but anyone who knows ranchers knows how far from the truth is. They are dependent on their land and stewarding their land well if they want to run a profitable business. “You buy the land, and you don’t force your ideas on the land. You work with what the land will give you,” says Lyman, whose grandpa instilled these values in him. “If you treat the land badly, it will help you for a year or two, but long term, it won’t. Any good ag person can’t abuse the land.”

Cattle Ranching and the Environment

“The beef industry and ranching have been unjustly framed as being environmentally destructive,” says Putnam. Cattle eat what humans can’t consume and convert the grasses it forages on to the highest density nutrient-rich protein source available, all this while ultimately improving the land. “The positive environmental impacts, if grazed with certain practices, are hugely beneficial. There is a misconception that it is part of the problem. One of the best ways to sequester carbon is grazing and regrowing of grasslands, and while doing that, it improves the soil,” adds Putnam. “It is important for people to wake up that ranching is not the problem but could be even more of a solution moving forward. Regardless of thoughts on climate change, a good food system and the need for good high-quality nutrient-dense foods for communities and family doesn’t change.”

Ranchers are some of the first stewards of the land. Much of the new regenerative practices are practices that older ranchers have been using for generations. “The tried-and-true methods that our ancestors did for agriculture are all about having a well-balanced operation. It seems simple, but that goes a long way towards being profitable or not. The longer cows are on the fields, the more costly they are. More equipment takes away from your profit,” says Lyman.

“Cows are just a way of utilizing that grass. Ranchers are exceptional stewards of the land, not because they degraded the resource. They enhanced it. Ranchers have been doing this quietly for generations, and it works, and people know it works.” Says Putnam. Ranchers have an almost engrained desire to leave the land better than how they found it. Among many things in common, Lyman and Putnam share the desire to leave the land better than they found it to their future generations. It’s what so many ranchers who have come before them have done.

Hard Lives Make Strong People

With an everchanging political climate, droughts, and higher input costs such as fuel and fertilizer, it seems like agriculture is under continual attack. But with a family that has been in ag for generations, the Lymans have seen much of this before. “In general, ag seems to suffer nowadays, but in truth, that is what makes real ag people hold up. The trials and tribulations create strong people,” says Lyman. “Droughts and such are just part of life in general for ag. It comes and goes. The weather is cyclical. We’ve gone through droughts and extreme rainy periods before.”

It is perhaps the uncontrollable circumstances that have molded ranchers into who they are. Anyone who knows someone who depends on the land and livestock for their living will be the first to say they are the hardest working people they know. “A hard life makes for strong people. Ag people are stubborn. But it’s a good life. You put them in any situation, and they can figure out how to get through it,” says Lyman. “It’s the reason ranch kids are in high demand for colleges and jobs.”

Animal Rights and Welfare

Along with the work ethic of ranching comes the level of care it takes to produce high-quality food. “Here is a history of people that continue to keep working, trying, improving, and taking those risks to bring food to people’s tables,” says Putnam. “There is a level of care for those animals. When something doesn’t go your way, when something dies, there may be the misconception that you go – ‘oh well.’” However, that is far from the case.

“Anyone running cows is constantly and daily looking at cows, evaluating them, looking for problems,” says Lyman. “Everything centers around the well-being of your animals. You are always focused on the care and requirements of the animals. There are generally no vacations because every time of year has something different you are watching your cows for. Anything going wrong takes away from your bottom line. You are always, always, always watching.”

After years of ranching, one learns the “tricks of the trade.” A rancher has to learn to identify what the different signs, body positions, and movements of livestock might mean. “A cow standing alone can be a problem. [You watch for] if she’s hanging her head and how’s she twitching her tail. You have to understand what’s going on so you can prevent problems,” says Lyman. “Ag tends to be greatly into animal rights and welfare. Any ag operation that undervalues animal care becomes unsustainable.”

Work Ethic

“What people do to keep their cattle herds and business going comes down to the care of the land and livestock first and themselves second,” adds Putnam. “It’s not what you see in other industries where you ask, ‘what do I get?’ Ag and ranching is ‘how do I benefit the we?’ And that’s something you don’t see all the time, and you don’t realize it until you see the level. It’s a mindset lost in other industries and ultimately what people need to get back to.”

The work ethic, the care, and the understanding of where food comes from all coincide. To Lyman, what he wishes more people understood about ag is, “The work ethic. The need and the importance of ag. Understanding where the food came from. Food coming in from other countries is greatly inferior because they don’t have the regulation for quality as the U.S. does. You think it will solve problems, but it doesn’t take into account how the animals are handled, treated, and chemicals used.” And that cycles back to the care and work put in by ranchers in America.

“There is such a disconnect between people going to a store buying steak and who did it come from, where did it come from. People assume that steak is going to be there and don’t think much about where it came from or who cared for it. The level of commitment to get to the end result is something that I know myself is something I’m impressed by on a daily basis.”

Who are Today’s Ranchers?

There has become a skewed perception of who the “real” rancher is. “It is more than just a hobby. It’s not a hobby for those who do it professionally. These are really smart professional people,” says Putnam.

For the working ranch owner, there are no bunkhouses filled with workers to do the job for them. Often it is one or two people doing the job. In the Lyman’s case, he is fortunate to have three brothers to spread out the work. The job doesn’t stop at 5 pm. “People look at TV nowadays and think it’s a grand life, and you ride horses all day and don’t see it’s a poor man’s work,” says Lyman.

Why Ranching?

With all the challenges involved, why do ranchers continue to work day in and day out? “It’s important. It’s the lifestyle and the effort you put into it. You like to be recognized for what you’ve done. It’s where you’ve come from. It’s the values and how you’ve been raised,” says Lyman. “You want to pass that onto the generations. There is no greater way to do that than to pass on your livelihood.”

Great ranches take generations to build. “The reason ranching is generational is because it takes generations to build great programs,” says Putnam. “These are long-term, multigenerational ranches, and that’s how long it takes to build the reputation. It does not happen overnight. And you have to be patient. You have to look at it with a long-term mindset.
Anything that looks super easy is usually highly complicated.”

“I’m a firm believer that what ranching and ag can do for a positive impact on the country is worth doing. I personally don’t love when people say it’s a lifestyle. There is a lifestyle, but the people that do this well are professionals, and it’s their careers. They have done it well for a long period of time. I like being part of that and learning. What they are doing is valuable, not just to just one group of people. The actual ag system is about helping the country have a healthy food source of healthy, high-quality nutrient dense food in America. Tim and I are both proud to be a part of that.”

Thank you to Greg Putnam from Little Belt Ranch Company and Reed Lyman from Lyman Ranch Company for taking the time to discuss the state of ag in our country. And on this National Ag Day, thanks to all the farmers, ranchers and workers in ag who work incredibly hard, and too often without any thanks, to feed our country and keep us secure. To learn more, please reach out to [email protected]

The Covid-19 Pandemic brought many uncertainties to the world. Living in rural parts of America became an iconic attempt at getting back to a “normal life.” The ability to be outside, not confined. The ability to escape overpopulated neighborhoods and workspaces. Investment seekers from around the world have looked at large ranches or vacant land in the American West to capitalize on another move West.

For Tim Sheehy and Greg Putnam, it was quite the opposite. They already resided in the West. They did not need to move, yet they were experiencing problems of their own due to Covid. Shortages of many things, including beef. With no certainty the supply chain would ever be set straight, at least not the way in which Tim and Greg would prefer, they envisioned starting their own cattle company to produce high-quality Montana beef. They, along with Tim’s brother Matt, created a goal to focus on the direct sale of high-end beef to consumers.

Watch the story about Little Belt Cattle Company in the video above, produced by Land.com and Filson, in partnership with Live Water Properties.

They considered how to start a cattle ranching business that fulfilled their goal and in the summer of 2020, Tim got in touch with Craig Janssen, Managing Broker of Live Water Properties in Bozeman, and Tim related his dream to Craig. Live Water Properties had the Daisy Dean Ranch listed for sale, which consisted of 3,140 acres in the heart of cattle country in the Treasure state, known as Montana. From the information that Tim and Greg shared with Craig, he knew they needed more land than that to fulfill their dream of starting a cattle ranch. There weren’t any existing Montana cattle ranches for sale that fit their needs in terms of size and resources, so Craig began to get creative with potential opportunities. Craig crafted an unusual deal by putting three ranches together, rather than splitting them up into smaller parcels for development opportunities. Tim describes Craig’s approach in a word: thoughtful.

Daisy Dean, Lazy Daisy and Robidu Ranches were the three possible cattle ranches for sale in Montana that Craig had the curiosity about combining. The Little Belt Cattle Company now encompasses over 7,000 acres between deeded and state-lease ground.

“This deal was very exciting because we put ranches together rather than separating them. I was aware of the Robidu and Lazy Daisy being listed with other companies and when Greg and Tim told me about their dreams of becoming full-on cattlemen, this idea began to grow. It was a pleasure to work on it, because now the Little Belt Cattle Company could have a fully functioning operational ranch that can last for generations,” said Craig.

The idea of combining ranches is not a new idea, however, it has not been the trend of what’s occurring around the West. Craig was pleased when this all came together because he was able to make Greg and Tim’s dream become a reality. Since last spring, Tim saw weaknesses in an overly centralized food network. Tim explains, “It’s a moral imperative to be able to feed our nation under any circumstance.”

And how did they narrow their search to the Little Belts? An easy web search reveals the Little Belts “as an island mountain range of the Rocky Mountain Front; this area is truly an untouched sanctuary of solitude.” Its location is near the center of the state between White Sulphur Springs and Great Falls, Montana.

The Little Belt Cattle Company has been in operation for roughly nine months. When Greg and his wife, Heidi, first showed up at the property the surrounding neighbors took note of the new owners. Many of them were curious if the ranching practices would continue or if this was going to become a getaway for city folks. Thus, it is important here to acknowledge and appreciate the personalities of the visionaries (problem-solvers and wanting to be relevant in the ways of job creation.) Moreover, it is significant to add that the new cattle company in the Little Belts is vet-owned and operated.

Craig believes the biggest measure of pride was overcoming “the adversity in putting the deal together.” The mix of seller personalities of the three ranches as well as the interactions with the other brokers was a challenge. When someone doesn’t have the desire to truly sell, there can be that main obstacle. However, Craig witnessed Tim and Greg’s effectiveness, and he knew it could be done. He calls Tim and Greg, “dreams to work with.”

It takes stamina. On working the multiple ranch deals, Craig’s advice was to “keep the big picture in mind. By putting all three (ranches) together it helped the value of the whole. Stay focused on the whole.”

Once the neighbors realized that the new owners were actually going to be the ones running the cattle and operating the ranch, they backed off and were helpful whenever their insight was desired. Starting a cattle ranch was a challenge, but it paid off for the new owners as well as their community. Greg and Tim have also shown the surrounding ranches new technologies that some of the seasoned ranches had not yet considered.

Another reason for Greg, Tim, and Matt starting the Little Belt Cattle Company was when people were stocking up on toilet paper and groceries at the height of the Covid-19 Pandemic, they wanted to be a supplier of a good to the American people. This was one of the first times that most Americans were denied the “American Leisure System.” Many people didn’t know where to acquire the goods that they had become so accustomed to and what to do replace such items. Tim is excited about the Little Belt Cattle Company’s mission. He believes deeply: to forge a more locally minded food procurement system that is durable, resilient, and connected to the surrounding communities. Their goals are to create relevant jobs and grow the economy, ultimately with a farm-to-table approach.

The synergy of the team of buyers and brokers in this cattle ranch investment was a strong bond built on persistence. Craig explains that having a team mentality is always helpful, but this was not a typical transaction; the team mentality in this scenario was a requirement. The team approach also included Jack McInerney, another Bozeman-based Live Water Properties broker. Jack’s expertise included his availability; he came on the first showings. Furthermore, Jack extended his local knowledge about some neighbors. He knew the land, specifically the earth on the ranches, qualities about the specific grass species and range conditions as well as soil quality and other crops that might be a fit on some parts of the ranches.

Each person on the team, from buyers to brokers could focus on where they could “plug in” to assist the transaction. Overall, this participatory and collective approach, Craig states, “turned a complicated deal into a real joy.” This is only the beginning; there is more to follow as this summer’s livestock production comes to market. Stay tuned, as the pandemic’s interruption stands no match for the Brokers Janssen-McInerney and Buyers Sheehy-Putnam team

There was much discussion and hype about the real estate market and economy in general in 2022. Despite a market that showed signs of changing conditions, 2022 was still a strong and successful year in ranch sales. At Live Water Properties, we saw our second-highest year in sales volume at $377M. This was higher than the pandemic-driven market that began in 2020 and fell only behind 2021’s record-setting year.

As we look forward to 2023, the real estate market appears to be normalizing. However, while the news and media report on the residential market, the ranch market must be looked at separately. Ranches are unique and often tightly held assets that cannot be recreated. Additionally, nearly 90% of ranch transactions are purchased in cash. How did these factors affect 2022, and what do we expect to see in 2023? We spoke with our team of Ranch Real Estate Brokers to take a closer look at the 2022 Ranch Market and get their predictions and advice for Ranch Buyers and Sellers in 2023.

What were the driving factors in the ranch real estate market in 2022?
Both 2020 and 2021 were unprecedented ranch real estate markets. How did 2022 differ?
There is a great deal of news about the residential market, but how do you see the ranch market differing from it, and how does this affect your Buyers and Sellers?
What role did off-market ranch transactions play in 2022?
What economic, political, and lifestyle factors played into Ranch Buyers and Sellers’ motivations?
What advice would you give to Ranch Buyers in 2023?
What advice would you give to Ranch Sellers in 2023?

What were the driving factors in the ranch real estate market for Buyers and Sellers in 2022?

“While the latter half of 2020 and all of 2021 were characterized by record-breaking land sales numbers in Montana, the ranch, farm, and rural land market in 2022 revealed changing conditions,” says Montana Ranch Broker Jeff Shouse. “Buyer interest and demand remained high throughout the year. However, transaction volume was lower than in previous years due, in a large part, to an unprecedented lack of inventory. Much of the availability issue was a result of high-volume sales the previous two years, as well as many landowners seemingly reluctant to sell due to the limited amount of potential replacement properties coming onto the market.

“According to statistics from Montana appraiser Andy Rahn at Montana Land Source, numbers through the third quarter of 2022 showed total statewide market inventory of acreages 200 acres and larger, down over 30% from 2021 and over 80% from 2020,” continues Jeff Shouse. “Additionally, the number of new land listings being brought to market was down 100% from the previous year. On average, Montana ranch and land market inventory for the calendar year 2022 was down approximately 50% from historic levels.”

“2022 saw a diverse set of motivating factors for buyers. Buyers remained urgent to obtain quality recreational ranches while land investors looked to deploy capital, often in the form of 1031 exchanges. Land was once again viewed as a favorable inflationary hedge,” says Matt MacMillan, Live Water Ranch Broker licensed in Wyoming, Montana, Idaho, and Utah. “Many sellers saw 2022 as a last opportunity to capture top-of-market prices, so elected to liquidate while inventory remained in short supply.”

“Sellers’ motivations largely focused on effecting a sale during the advantageous market cycle in an effort to get ahead of looming unknowns in the equity markets while competing inventory was limited in most markets,” adds Brian Hartley, Live Water Ranch Broker licensed in Colorado and Wyoming. “Buyers were eager to find those special places that offered the features that always seem top of mind – location, privacy, public land adjacency, sporting resources on site.”

“Sellers I worked with in 2022 were motivated by Buyer activity, and high land values realized during the previous two years during the Covid boom. Overall, sellers that came to market during the 2022 season could substantiate higher listing prices based on comparable regional sales and a lack of quality inventory,” notes Live Water Ranch Broker Tate Jarry, licensed in Idaho, Wyoming, and Montana. “During the second quarter of the year, with the increase in interest rates, the dip in confidence in the investment markets, and the pressure of inflation, we realized a decrease in buyer activity. There were many price adjustments, less buyer demand, and less urgency for property in the rural areas we serve.”

Live Water Properties Texas Ranch Broker Mark Harman adds, “I would say that recreational ownership continues to be the motivating factor for most buyers even as the market has slowed from the break-neck pace of 2020 and 2021. Many sellers realize that they missed the golden window opportunity to sell into the frenzy as 2022 unfolded. Sellers will continue to experience ‘real estate occasions’ triggering the urge to sell i.e., death, relocation, estate planning, and life changes.”

“For the most part, Wyoming ranch Buyers were seeking destinations that offered less government control, restrictions, and regulations that affected their business and lifestyle. Many plainly said they had made the decision to leave their current residence due to factors that included increased crime, increasing taxes, more regulation, poor education systems,” says Wyoming Ranch Broker Toby Griffith. “In regard to Sellers, all were taking advantage of the market, downsizing or exchanging into other properties.”

Both 2020 and 2021 were unprecedented markets. How did 2022 differ from the past two years?

“The pace of sales we saw in 2021 was a convergence of several factors which we may never see again in our lifetime, namely a global pandemic that made buyers re-think their choices on where they would like to spend their time. Our mountain communities and rural valleys became the focus of this new buyer set, seeking an improved quality of life,” says Matt MacMillan. “This trend continued in 2022; the shortage of inventory may have slowed sales toward the end of the year, but buyer demand remained robust.”

“Colorado generally followed the trend of other western states into 2022; inventory levels continued to wane while buyer activity remained high. Buyer motivations varied from client to client, but the general tone remained a commitment to enjoying time outdoors in areas they love and connecting with family and the land,” notes Hartley. “There was also more commentary from buyer clients about diversification of their portfolios to hedge against the uncertainties of the equity markets while simply enjoying the properties.”

“In 2022, we saw a slight shift from a Seller’s to a Buyer’s market. We are seeing the average Days on Market increase, price adjustments and reductions becoming more common, and more Buyers entering the market with an air of caution and less urgency,” adds Tate Jarry.

Inventory was the main change Toby Griffith saw, noting, “There was no real difference [in the markets] until the latter part of the year when quality inventory became virtually non-existent and buying activity slowed. We continue to have a huge demand but no supply.”

There is a great deal of news about the residential market. How does the ranch market differ, and how does this affect ranch buyers and sellers?

“Though the national news of the softening house markets is well understood by our clients, most of the properties we deal with are much different, and to a degree, removed from the ebbs and flows of the residential markets and the direct impacts of varying interest rates. That’s not to say there is not some correlation, if only mentally. Buyers are leery of purchasing at the perceived top of the market cycle, and Sellers don’t want to be the last ones standing in their markets trying to achieve price points that are no longer realistic,” says Brian Hartley. “These nuances are what keep this industry so fascinating – we as brokers study the trends, compare notes on our respective areas and advise our clients accordingly based on all of the data points we track.”

“The ranch market is not nearly as sensitive to the interest rate environment as is the residential market. Most of our buyers tend to use cash and often become more motivated to add to their land holdings when recessionary headlines are top of mind,” says Matt MacMillan.

Tate Jarry adds, “Historically, the properties we sell are discretionary purchases with nearly 90% cash transactions.”

“Ranch ownership is not a necessity for most. Home ownership is a necessity. Land buyers that I have engaged with over the past several days, weeks and months appear slower to commit to recreational land ownership,” notes Mark Harman.

“Our buyers are typically cash buyers with the exception of some agricultural buyers where some heavily rely on borrowing money,” say Toby Griffith. “With increasing rates, this may create a slowdown in agricultural properties unless those properties are priced aggressively to sell.”

What role did off-market transactions play in your state?

“Off-market transactions continue to play a significant role in Colorado; the largest transaction our company was involved with in 2022 was an off-market transaction in Northwest Colorado. We had been tracking the property in prior years when it had been on the market. When representing a buyer client whose search parameters matched well for it, we were able to affect a sale for the seller and our buyer client quietly and relatively quickly,” says Brian Hartley. “We work hard to build trust with landowners and educate them on market conditions incrementally over the years; in some cases, they prefer not to formally list their ranch asset but are open to an off-market transaction as they know the buyer clients we work with are qualified and can move quickly to perform.”

“Off-market transactions always play an important role in the Western ranch market. When inventory is short, as was the case in 2022, off-market deals became even more prevalent as buyers sought out properties and often made offers on properties that were not actively for sale,” adds MacMillan.

“In the first quarter of 2022, there was still a relatively healthy inventory of quality ranch properties listed and on the market that we were able to capitalize on, matching our buyer clientele needs. As the year progressed, quality inventory steadily decreased, forcing brokers to direct their efforts to find off-market inventory to meet Buyer demand,” says Tate Jarry. “There remains seller apprehension to market their properties despite the higher-than-average market values due to tax implications, difficulty finding replacement properties, and investment market uncertainties. I believe off-market transactions will play a large role in 2023 as our niche market begins to ‘normalize.’”

“In light of recent limited inventory, I believe there were considerably more off-market transactions done in the last six months than what we realize; however, this is something that has always been going on and will continue to be part of the real estate game,” notes Toby Griffith. “I think when inventory begins to get back to a stable amount, off-market deals will decrease, or at least the opportunities for off-market deals will decrease. It’s a great time right now to sniff out all leads and possibilities.”

What economic, political, and lifestyle factors played into Ranch Buyers and Sellers’ motivations?

“Lifestyle and quality of life were at the forefront of buyers’ minds in 2022, and I anticipate this trend will continue for years to come. As technology continues to advance, allowing even more flexibility to work remotely, our western mountain communities will see more and more demand based the healthy active lifestyle that many now seek,” says Matt MacMillan.

“A solid majority of the Buyers and Sellers I work with in the ranch real estate market are motivated primarily by the ‘lifestyle factor’ associated with rural mountain living. We all see ourselves as conservationists and stewards of the lands that surround the beautiful areas we call home,” adds Tate Jarry.

Media has also played a role in creating this lure. As Craig Janssen notes, many Buyers are quick to mention the hit television series Yellowstone, when beginning a ranch search.

“The motivation for Buyers to be in Colorado remains almost universally lifestyle-driven,” says Brian Hartley. “Ease of access from nearly all urban centers around the country makes it a desirable place to be in all seasons, be that escaping heat and humidity elsewhere in the summer, enjoying seemingly endless acres of aspens glowing in all shades of yellow and gold in the autumn as big game hunting season takes center stage, or, of course, enjoying the myriad of skiing options around the state.”

“It is my opinion that the biggest impact on the Wyoming ranch and recreational ranch market was politically driven. Perhaps COVID started consideration and conversations but the realization of increased government involvement in people’s lives started the mass migration,” adds Toby Griffith.

Oregon Ranch Broker Sam Houser notes that conversely, “Oregon Buyers looked to take advantage of the short-term gain of catching a steelhead or hunting a trophy elk for a lower price per acre versus a long-term tax shelter state with higher upfront purchase costs.”

“A good portion of the Buyer activity in 2022 was focused on higher-quality, amenity-rich properties, which generally went under contract quickly. However, these properties were typically priced at a premium. Buyers as a whole were more measured and selective in 2022 than had been the case in the previous two years, illustrated by good property showing activity but fewer offers tendered. This tendency contributed to an increasing amount of price reductions as the year progressed – something that was rarely seen during the 18 months prior,” says Jeff Shouse. “Another trend that continued from 2021 was a notable number of off-market transactions on properties that were never publicly offered.”

What advice would you give to buyers in 2023?

“Buyers in 2023 should have more opportunities than they have seen the past two years. That said, the quality inventory, which is priced appropriately, will still sell, and potentially very quickly. So, if you find something you like, buy it and begin to enjoy it!” says Matt MacMillan.

Both Texas Ranch Broker Mark Harman and Montana Ranch Broker Craig Janssen offer the same piece of advice: patience. “There will be good-to-great buying opportunities in the next year or two, be patient but be ready to move quickly if the right thing comes along,” adds Janssen. Toby Griffith echoes this as well, “Be patient but be prepared to immediately jump on any property that meets your requirements.”

“The recent real estate boom has also seen an increase of new real estate sales agents entering the market. With the persistent lack of quality inventory, a Buyer needs to be ready to move quickly when they find the property that fits their needs,” says Tate Jarry. “To maximize your time and efforts searching for your western investment property, consider working with a veteran in the niche market you are interested in.”

“If they have not already done so, any active Buyers should begin the process of vetting and selecting an experienced and trustworthy broker to represent their interests. That broker will be your eyes and ears in the area, or areas, that match well for your search,” notes Brian Hartley. “Be prepared to move quickly when something that fits for your search parameters and budget hits the market or is identified by your broker off-market. With inventory as tight as it is, options remain limited both for you and the field of competing Buyers who are actively looking – likely with similar criteria.”

“Look out for properties that were purchased by Buyers caught up in the momentum of the market over the last couple of years. They may have a property that no longer suits their wants or needs,” adds Sam Houser.

What advice would you give to Ranch Sellers in 2023?

“Don’t chase the market. Spend time during the planning process to form a solid marketing strategy based on realistic price points backed by recent sales that local appraisers and broker analysis can substantiate. This will allow you to capture those Buyers still lingering in the marketplace who are willing to move fast if pricing is in line with market trends,” says Tate Jarry.

“Pricing will be more important for Sellers in 2023 than in the past two years. If it is the right time in your life to sell your ranch, don’t hold off waiting for potentially ‘better prices,’” adds Matt MacMillan. “All markets are tough to time, and the ranch market is no different. Currently, there are still ample buyers in our valleys looking to purchase quality land assets.”

Mark Harman and Craig Janssen also echoed each other’s sentiments, “Manage your real estate value expectations! When in doubt, hire a certified appraiser,” says Harman. “Price property correctly from the start of the listing,” added Janssen.

“If pricing is higher than justification based on comparable sales, a Seller should plan on and expect little to no activity for a couple of years. Unless the property is desirably unique, average properties no longer demand top prices like they did the previous two years,” says Toby Griffith. “However, if the seller understands the market has softened, but there remains a good pool of buyers, they still have the opportunity to sell their property if it’s reasonably priced.”

“Despite what the perception of the current market may be, there remains plenty of capable Buyers looking for that next special place who may have missed out on other opportunities in recent years and will also be prepared to move expeditiously to jump on a new opportunity,” says Brian Hartley.

“Despite increasing interest rates, current inflation levels, and recession discussions, I believe the Montana ranch market in 2023 will be robust. Potential sellers should recognize that many interested cash buyers are watching the market, waiting for the right offering to present itself. Good quality properties that are priced right are in high demand at present and will sell this year. The probability of low inventory again this year is high, in my opinion. Accordingly, active buyers need to be diligent in staying on top of current and new market offerings. They will need to be prepared to move quickly when the right opportunity presents itself. Along these lines, one option that a prospective buyer may wish to explore is enlisting the assistance of a qualified and skilled ranch broker via a buyer brokerage arrangement, which may lead to exposure of properties that are not advertised on the open market but may be available for purchase,” concludes Jeff Shouse.

If you would like to learn more about Buying or Selling Ranches with Live Water Properties, please reach out to one of our trusted Ranch Brokers in your state here, or you can email [email protected]. We will connect you to a Broker who can discuss Buyer needs or offer a comparative market analysis for your ranch.

Ranches and farms are some of the most worthwhile and secure investments you can make. Not only do you get to live in a luxurious and spacious property incomparable to what many investors have ever had before, but you get to live a more natural rhythm of life, reconnect to the land and fully pursue interests such as fishing and hunting or raising livestock and producing goods. Add to this the possible returns in investment that can be gained by ranches and farms and it’s easy to see why so many are turning to these types of property for their next investment.

However, how do you get started with ranch investments? What are the benefits that come with investing in ranches and farms? And what are the risks involved in this enterprise?

Continue reading as we lay down everything you need to know and consider regarding ranch investments, especially in places like Wyoming, Montana, Colorado, and Texas.

What are the main types of ranch investments?

Cattle Ranches – One of the most common forms of ranch investments, ranching typically involves raising livestock such as cattle, horses, and sheep on expansive tracts of farmland. Aside from common livestock, animals like American bison, alpaca, and elk — as well as exotic birds like ostriches and emu — may also be raised.

At present, most of the working ranches in the United States are typically used in the production of meat, milk, wool, and other animal products. Some ranches in the country, however, have branched out to agrotourism and also offer attractions such as cattle drives, horseback rides, and guided hunting.

Ranching is especially popular in Texas, which is home to about 248,000 farms and ranches, all of which have a combined area of 127 million acres.

Farms – According to the Department of Agriculture, there are about 2.1 million farms spread throughout the U.S., the majority of which are family-operated. Farms in the U.S. typically have an area of about 435 acres, although there are some whose total area exceeds 2,000 acres.

Most farms in the U.S. grow grains such as corn, wheat, barley, and oats, while some grow crops like soybeans, as well as vegetables, fruits, and various other types of produce. Because of the demand for their products, farms are incredibly lucrative ventures, with crop cash receipts from US farms totaling $198.8 billion in 2020.

Fly Fishing and Hunting Properties – Ranch investments also cover properties and attractions that offer fly fishing, hunting, and similar activities to visitors. Fishing and hunting properties are particularly appealing to those who love the great outdoors and the sporting lifestyle, and— much like farms and ranches — come in a wide range of sizes, amenities, and features. For instance, some properties span thousands of acres and include exclusive, luxury lodgings, while some offer a more rugged and rustic experience for buyers.

Roughly 18% of the entire U.S. population, that’s 54.7 million Americans, went on fishing trips in 2020. Hunting is also very popular with 15 million Americans participating in hunting trips in 2020. This can be turned to your advantage. Not only will you enjoy your own hunting and fishing ranch, you can open your property to visitors and generate income. Having recreational activities on your ranch enhances the lifestyle you lead and adds value to your agricultural property.

If you are planning to invest in these types of properties, Montana, Colorado, and Wyoming have some of the best land for fly fishing and hunting in the U.S.

Conservation Ranches – For the most part, conservation quality ranches function just like standard working ranches and farms. These properties, however, employ conservation strategies and sustainable farming practices, both of which help preserve and enhance the land and its resources, promote healthy biodiversity, and help carry on their legacy for future generations.

Entering into a voluntary legal agreement such as conservation easements and land trusts safeguard the ranch’s character and natural resources. However, a much more immediate benefit for the owner is that they can realize tax and or cash benefits, sometimes both. Furthermore, partnership with a local trust gives a new landowner access to expert knowledge and the tools needed to manage the property in a wildlife-friendly and resource efficient manner.

Other types of ranch investments include the following:

What makes ranches and farmland great investments?

Ranches and farmland are great investments, not only because of the positive combined returns that they deliver to investors but because of how effective they are at hedging inflation compared to other forms of investments like gold and stocks.

Ranches and farms have the ability to provide extra income, which means that investors remain well-protected — even in times when the prices of goods rise and the purchasing power of the dollar decreases. Not only that, but the world’s supply of arable land is decreasing at a steady rate, driving up both the demand for ranch investments and their value.

They are less volatile investments when compared to other major assets, making them especially valuable to those who wish to diversify their portfolios.

Another major plus is that ranches and farmland – depending on which state they’re located in – come with tax breaks and benefits that investors can take advantage of to maximize their earnings.

For instance, Montana allows deductions of up to $50,000 on capital gains – provided that the property covers more than 80 acres, and the sale is done via a long-term, state-approved contract. Colorado, on the other hand, exempts several agriculture-related items from taxes, including farm and livestock equipment, electricity and fuel costs, and proceeds from farm close-out sales.

Wyoming does not tax properties such as farms and ranches based on their market value, but rather, on the agricultural products that they produce. The value of these products are then calculated at a fractional rate of 9.5% — resulting in massive savings for qualified investors. Texas employs a similar tax scheme for agricultural properties, with ranches and farms taxed based on what they can produce rather than their land’s market value. Not only that, but Texas also exempts farm owners and investors from paying state and local sales taxes on most of the items they buy and use for their properties.

What are the past trends and future prospects of ranch investments?

The demand for ranch investments exceeded expectations in 2021, with sales of multi-million dollar ranching properties reaching record-setting numbers.

Real estate professionals place the increase in the sales of ranch investments and other agricultural properties in places like Montana, Colorado, Wyoming, and Texas in 2021 on several important factors. These include the migration of buyers from cities to rural areas, a shift in the U.S. political environment, and stronger overall economic conditions.

As noted by several real estate agents, a significant chunk of the sales made in 2021 were off-market transactions — a scenario largely driven by a combination of limited inventories and buyers wanting to find properties that match their specific wants, needs, and investment goals.

This uptick in the demand for ranch investments and similar agricultural properties is likely to continue in 2022. Interested buyers, however, might find it difficult to get ahold of agricultural properties, especially since land inventory in several states is currently at an all-time low, resulting in a highly competitive real estate market.

Buyers may also see stiff competition from foreign investors, whose interest can often drive up property values to unprecedented heights.

The good news, however, is that current ranch investors are still likely to see healthy returns from their properties this year, with the net farm income for 2022 projected to be at $113.7 billion – only a slight dip from the $119.1 billion recorded in 2021.

What are the nuts and bolts of acquiring ranches?

Acquiring ranches and large land properties can be a complicated affair. Because of this, it is important that you follow certain guidelines, including the following:

Find a realtor who specializes in ranch investments – One of the smartest things to do is find a real estate professional who specializes in farmland and ranches. Getting the right support at the beginning can save you time and effort, open your options and guide you to the ideal property for you.They must be experts regarding the type of property you want to develop, or at least have a working knowledge of the activities you want to pursue, such as angling, hunting, or farming.
Ideally, you want to work with agricultural real estate professionals who are not only about buying and selling residential real estate. Live Water Properties is made up of people who know the land and live the agricultural, outdoor and hunting life, we live what we sell. Being able to provide the support and know how on how to set and run your ranch or farm has earned us glowing testimonials from clients. We want them to enjoy their new properties and we’re more than happy to help in any way we can.
Decide on the kind of ranch investment you desire – One of the first things you need to do before investing in a ranch or similar property is to zone in on what it will be used for, as well as how it fits with your current lifestyle and investment goals. For instance, if you’re just looking for a place that can function as a private retreat for your family, a small to mid-sized ranch might be more in line with your needs, rather than an expansive estate that may be more suited to investors looking who are interested in activities such as hunting or agriculture.
Experts in the field – Once you have decided on the type of property you want, the next step is to find the right realtor for your particular type of ranch or farm.For example, if you want to get a fishing property, you’ll need a ranch broker who at the very least knows where there are great fishing waterways and what type of fish are predominant in those waterways. It should then also follow that they’ll know the rules and regulations in these particular areas. Likewise, if you are looking to invest in a hunting property, you’ll want a ranch broker that can get you up to speed with hunting regulations that may be in place in that area.
Aside from that, ranch brokers can provide you with nuanced information on factors that affect how you utilize your property, such as its location and accessibility, privacy, fencing, and improvements, as well as leases and conservation easements.
Find a lender that specializes in ranch investments – If you will be financing your purchase, the next step is to look for reputable lenders who specialize in ranches and similar investments. This option is particularly helpful for those who may be planning to start dude or guest ranches, or luxury fishing and hunting establishments.If you are looking to start a standard cattle ranch or farm, another option is to approach the USDA’s Farm Service Agency, which offers Farm Ownership Loans to qualified individuals.

Ranch investment properties

When searching for ranch investments and similar real estate properties, it is important to choose the ones that best match your needs and overall investment goals.

To give a taste of what could be yours here are some properties to consider:

Ross Plateau

Available for purchase for the first time in four generations, this Bridger-Teton inholding sits 15 minutes from the Jackson Hole town square at the end of a private road. With its elevated location, the property enjoys stunning views of the Teton, Gros Ventre and Wyoming Ranges. Consisting of timber-framed lush mountain meadows, the 159 acres are divided into four parcels that capture the stunning views and have backdoor access to Munger Mountain and the southern Teton Range.

Priced at $25 million and composed mostly of timber-lined mountain meadows, Ross Plateau is not under any deed restrictions or conservation easements. As such, the property lends itself to a variety of uses and can be converted into family hunting ranches.

Ross Plateau is surrounded by the Bridger-Teton National Forest, home to an impressive variety of local fauna, including elk, deer, moose, and bald eagles.

Golden Eagle Ranch

Situated on the banks of the South Platte River in Colorado, Golden Eagle Ranch covers 2,074 acres and has extensive water resources, making it the perfect property for those who want to hunt waterfowl.

In operation for the last thirty years, Golden Eagle Ranch is noted for its healthy populations of waterfowl such as ducks and geese, as well as strong populations of birds such as turkeys, pheasant, and quail. There’s also prime deer hunting, with the owners having chosen not to extensively harvest but keep numbers of deer high by practicing archery hunting exclusively.

Now selling for $17.6 million, this property includes features, such as a six-bedroom and five-bathroom hunting lodge, and an additional storage garage complete with top-quality commercial-grade game processing facilities and kennels.

The Ranch at Aspen Ridge – A luxurious retreat in every sense, The Ranch at Aspen Ridge is located in Oregon’s South Central area and is nestled between the towns of Klamath Falls and Lakeview.

Spanning a total of 3,598 deeded acres, The Ranch at Aspen Ridge has a multitude of luxurious features, including a 7,000 square foot log lodge with a commercial kitchen, as well as five, 1,250 square foot cabins. The property is currently being sold for $10 million.

An off-grid property, The Ranch at Aspen Ridge primarily depends on hydropower for its electricity and has a propane generator as a backup for emergencies.

Aside from its scenic views, The Ranch at Aspen Ridge is also home to healthy populations of elk, deer, trout, and other fauna, making it the perfect investment for hunters and sport fishers alike.

Aspen Ridge offers complete privacy for investors.

Invest in your own ranch or sporting property

If you are planning to invest in ranches, farmlands, and other similar properties, don’t hesitate to give Live Water Properties a call.

A real estate brokerage company, Live Water Properties specializes in investment-quality ranch properties in locations such as Wyoming, Montana, Colorado, Idaho, Nebraska, New Mexico, Utah, and Texas, as well as large land properties in Georgia, South Carolina, and Florida.

Founded in 2001 our brokerage primarily focuses on agricultural and cattle ranches, farms, plantations, fly fishing ranches, bird and big game hunting ranches, and timber farms, as well as other properties like guest ranches.

Live Water Properties has over two decades of experience in the industry, and The Land Report has recognized the company as being one of the top ranch brokerage firms in the world ten years in a row. Live Water Properties is widely known for providing expert-level advice and seamless service to our valued clients, in order to help them make sound decisions when it comes to land and ranch ownership.

Aside from helping buyers find ranches and properties that match their goals and lifestyles, we also assist landowners with their daily operation, as well as their capital improvement projects. Our firm provides consulting services regarding land and ranch market valuation, fisheries and wildlife habitat enhancement and management, and conservation easements.

If you want expert guidance regarding ranch investments and other recreational properties, call Live Water Properties at [ai_phone href=”+1.833.982.1964″]833.982.1964[/ai_phone]. You can also send us a message here to set an appointment with our expert team of real estate professionals.

Office Locations

Stay Up To Date Join Our Newsletter

Table of Contents:

AN OVERVIEW OF WYOMING’S AGRICULTURAL INDUSTRY

RECREATIONAL USES OF FARMS AND RANCHES

HOW TO CHOOSE THE RIGHT LAND FOR SALE IN WYOMING

WHERE TO BUY RANCH LAND IN WYOMING

LIVE THE AMERICAN ADVENTURE WITH YOUR VERY OWN WYOMING RANCH

The Importance of Ranching and Agriculture in the United States

Table of Contents:

Meet the Ranchers

Montana

Wyoming

The Importance of Ranching to our Nation

Threats to Agriculture

Cattle Ranching and the Environment

Hard Lives Make Strong People

Animal Rights and Welfare

Work Ethic

Who are Today’s Ranchers?

Why Ranching?

Table of Contents:

What were the driving factors in the ranch real estate market for Buyers and Sellers in 2022?

Both 2020 and 2021 were unprecedented markets. How did 2022 differ from the past two years?

There is a great deal of news about the residential market. How does the ranch market differ, and how does this affect ranch buyers and sellers?

What role did off-market transactions play in your state?

What economic, political, and lifestyle factors played into Ranch Buyers and Sellers’ motivations?

What advice would you give to buyers in 2023?

What advice would you give to Ranch Sellers in 2023?

Table of Contents:

What are the main types of ranch investments?

What makes ranches and farmland great investments?

What are the past trends and future prospects of ranch investments?

What are the nuts and bolts of acquiring ranches?

Ranch investment properties

Invest in your own ranch or sporting property

Connect With Us