If your land qualifies for WRP, or the official term is WRE … you can get $5000 per acre or more , paid to you. Lump sum .
Those acres can never be farmed & have further restrictions. Mostly crop land that floods or was a wetland/tiled.
—30 year easements & permanent easements!
I would have never guessed that WRP would ever sell for 5000 acre ?
Keep in mind the current owner probably received 5-7k in WRP easement money ? He’s gonna make bank !!
I personally do not buy those farms .. unless they are just dirt cheap . I like income on my farms (crop or CRP). Then I can justify it to my wife (as an investment)!!;)
In this case I think it is a USFW easement. You cannot plant any crop, minimal food plots, can’t build on it …
Pasture only , maybe some cutting of hay after August 1.
The land sold after the auction… guessing around $2000/acre .
A 360 acre parcel with a wildlife easement (pasture only.. limited food plots)was on auction today in Minnesota.
Nice property, solid duck/goose, good whitetail farm . Mostly pasture with brush and cattail slough, some woods, rolling terrain .
$1750 was the highest bid… no sale, reserve not met !
Correct … you have to keep the money in the IRA. However, you can use that money to buy more property in your IRA…
It’s complicated, but not as bad as you’d think .
I have land in Self Directed IRA and yes you are not supposed to use it.. you can rent it/crop lease or take timber income off of it .
Mine is a 40 acres—you can’t see from the road . I’ve actually never hunted on it, but scooped up some sheds from it .
Never seen an IRS agent on it ;) .. once...
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