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cobuying land

Most times I've suggested against it- it fell on deaf ears and almost all cases did not end well. Kinda like ur buddy dating or marrying the woman from hell- u can tell him to run but he probably won't listen & it'll be his catastrophy for later. Thankfully land isn't as serious as a marriage but the land partnerships I see RARELY go well
 
I thought about trying partnership few years back. do yourself a favor save your money and go it alone best decision I ever made. I'm my own boss at least on the back 40;)
 
I've also bought with friends and it hasn't gone well. We had some things in writing before buying but less than 2 years in they were ready to dump all the agreements. We still own it but we don't hunt together and one friendship is done and the other is a fraction of what it used to be. Really sad deal. DON'T DO IT! One of the worst decisions I've ever made.
 
I do not have any personal experience with cobuying land, but from the multiple accounts from others that did go that route that I have heard about...I wouldn't do it, no way, no how! Also, I know realtors that when they hear about a potential "partnership buy", they will avoid that deal because of the likely headaches and delays, etc, that often come up.

I have heard of a couple of successful stories though where people in essence shared land by separately buying adjoining farms or by buying one larger tract and then splitting it. (At least one previous poster in this thread indicated how they successfully did something along these lines.)

I could see that working, but I would guess that 90%+ of the time, a straight up "cobuy" would end up poorly.
 
As long as you can agree on principals ahead of time and draw it in writing that helps. But for all the reasons mentioned it could get messy very easily.
 
I would not do it. I have owned like 5 huntable farms and I owned all of them myself. In Iowa last year I had a good 180 and would hunt a 40 for like 2 days and then start moving up the ladder to other 40's on the property. If I had a partner who knows what would have been going on and it would not have been the same to share it. I would rather own 10 acres than share 1000 acres.
 
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You will all be proud to know that this transaction will not happen...mutual agreement on the end i guess. Now I kind of feel bad that he doesn't want to buy land with me! lol all for the best I'm sure

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I have two really good freinds that are in together on 285 acres and have been for 9 years. It has worked out great. There are rules and regulations that we all follow. I actually live about 15 minutes from the land and look over it for them and hunt it as well.

Put it this way. It has worked out so well that they are looking at buying a peice that joins it.

There are times when you can make it work. Just set the guide lines and follow them.
 
The biggest issue arises when a partner wants to sell, or is forced to sell his share (divorce), and the decisions regarding what piece to break off. Obviously, there are portions of the property not worth the same money when separated from the rest and vice versa. Very ugly process.
 
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