I would write up a contract that outlines what each of you expect to happen. ie: what if he wants to build a house later on down the line, how many hunters are allowed, food plots allowed? ATVs?

 

Draw up an agreement....

Multiples friends have proposed joint ownerships.
The last one we tentatively agreed to have an agreement drawn up that whoever lost interest or ceased participation for whatever reason was to be bought out by the other.
A good friend. But I don't mind owning my own land. Less temptation of conflicting use or ideas that way.

 

You need to have a iron clad agreement, made up by a good lawyer, with everything written down in Black and White. I looked at several properties with my brother and his BFF. Everybody was gung ho initially but then life happens and I ended buying a 120 by myself. I was very fortunate in that my wife was all in and I had a son and two grandsons close by, who were able to help with chores too. It was a labor of love and we had wonderful times hunting on our own property and made money too, when it was time to sell.

But I have heard several stories of lifelong friendships and deer camps going down the toilet because of misunderstandings of the property/camp rules. Everything needs to be thrashed out beforehand and what if somebody dies???? Good Luck.

 

What are best friends for! Take a look, there are two of you to work the property. Talk to him about written out a exit strategy just in case. What about of one of you die? 90% of us that are developing large property are by ourselves most of the time unless you have kids.

 

Sounds like the best possible scenario you can have if you are buying property with someone. Hope it all works out for you. Good luck

 

I've never done it, so I don't have any experience to relay. I don't think I'd ever consider it. I don't always play well with others when money and hunting are involved . Way too many variables to consider long term. Hunting rules, styles, guests, camp, estate planning, etc...

 

Did this with my BIL but had the property legally divided. Both got road access. You could share hunting and all other activities but when push came to shove you each have a piece. A lawyer could save you 💰 in the long run.

 

Buy it on your own,

 

My thought too... I'd find out who the landowner is you maybe already know and put in an offer... Then tell your your buddy you bought the property he can hunt there If he helps with taxes habitat work...

This way you can pick your spots, have control over how and when the property is used... What type of deer are off limits etc...

That way if you guys have a falling out you still have the property and like others have said I'd something unfortunate happens it isn't a legal mess ..

That's if you can swing it...

 

Are there any splits that you could just buy 35 each and then manage it and work on habitat together?

 

Not a chance in hell would I buy a property with someone. I want to be in complete control, the one calling the shots. You better have every single scenario spelled out in an operating agreement. What if you want to bring a friend, or cut trees, or sell, or one of you gets to hunt more than the other and that causes resentment. Owning with a buddy/friend isn’t for me. That being said, if a friend wants to come put in his time to help me on the farm, then I get to decide if, when and how much they get to come hunt with me. It’s not a free for all, too many properties get ruined too easily. Good luck to you but I’d try to find a way to buy it yourself. Deer make people do stupid things, god help you if there’s a big deer involved.

 

Writing up a contract is a definite must. In 1989 I bought 50 acres for hunting. A long time friend was also interested in buying it with me but did not have the money then. He said he would have it soon. So the deed was drawn up with me, my wife, him and his wife. We paid $15,000 for the property and were joint owners. The property had been split into three parcels, 10 acres, 18 acres and 22 acres. We each decided to hunt different parts of the land. I additional bought 2 adjoining parcels 20 acres and 10 acres so we now had 2 forty acre parcels adjoining. We had a verbal agreement that if one of us wanted to sell to the other we would sell for $1000.00 per acre.
In early 2000 his wife divorced but her name was never removed from the Deed. She remarried and has since died. They have 2 boys and they seldom hunt the property. My partner has essential tremors and another health issue and does not hunt any more. We both allowed our sons and friends to hunt. Now my partner allows sons, brothers or friends to hunt, but only one at a time. If my son wants to hunt ( his ) part of the 50 acres he gets upset.
A few years ago I had the 20 acre parcel logged off. I wanted to log the 50 acre parcel but my partner did not so we didn't. Now many of the trees have just fallen down.
A few years ago I offered to buy him out but he did not want to sell. Instead he suggested I sell him 40 acres and with the 30 acres I owned we would each have forty acres I was definately not interested in his offer.
So this is something I would NEVER do again as you lose control.

 

A good friend of mine and I have discussed owning land together in the past but with the high prices nothing ever panned out. Recently, he said a family friend of his dad mentioned they had 75 acres they were looking to sell. My buddy called me last night and asked if I was still interested. Needless to say I am and we are awaiting word from the owner to see if we can walk the parcel.

I bring this up because my dad was looking to purchase property up north back in the 90's with 3 other friends. They had a chunk lined up but one guy bailed and it fell through. Eventually, my dad found our current land and bought it by himself. He told me that was the best decision he ever made. That has always stuck with me to this day and gives me a little pause to owning a property with a friend.

Any of you have experience owning property with another person? What were the pros? Cons? Did it cause any rifts or strain in your relationship?

This is a real good friend of mine. He stood up in my wedding. Our wives are good friends. I would say our hunting ideals are pretty close. I already have hunting property up north, this wont be my primary hunting but it is less than 3 miles from my home and I can hunt after work. He doesnt have his own property so this would be his primary hunting location.

The property is 75 acres with about 15 of it tillable. Road access on the south.

Business partnerships amongst friends and family rarely work well. Partnerships are tough and end up falling apart a high percentage of the time - the only question usually is how long it will take.

In terms of rules, written rules are always preferable to unwritten. However, partnerships, contracts, etc. between friends or family will always change the nature of a relationship. Things are immediately different once you move into the role of having to enforce contracts with a friend or family member.

 

Don't do it is my advice.

 

Partnerships suck as others have said , I would not .

 

Your friend is likely going to have the same concerns as you and is receiving mixed suggestions as you are on this site.
I would at least walk the property with him and have the long talk afterwards. Do you both have families that would also be using the property ?
If you decide not to get into the arrangement I'm sure he will find another person who will be interested so you should not feel any pressure that ya need to do this.

L & O

 

I tried to go in with (3) guys in 2000 to buy a camp in the UP. It fizzled out quickly once it came time to lay out the cash. Shortly afterward I ended up buying my own land. I wouldn't have it any other way, no way I'd want a partner after owning it by myself. The other guys didn't have any problem coming up to hunt after I bought it

 

Good way to ruin a friendship imo.

 

I considered this when I bought my land and now 10 years later, I am glad I did not.

I still have my friends and I am able to do exactly what I want when I want.

The guys that help have some ability to influence me, but I have all the decision power on how, and when we hunt.


TD

 

Like others have said I would look at splitting the acreage with your friend if possible.

 

Bad idea. Never going to see eye to eye on everything. Then what? Almost always ends bad.


Sent from my iPhone using Michigan Sportsman

 

Our neighbors bought 280 acres together just over 50 years ago. There were 3 of them. One was bought out and one has passed which leaves one original buyer and the heirs of the one who passed. The problem now days is there are four boys and their kids to share the property. They have a fight every summer when all the kids and Grandkids come up to play in the woods and at deer season. Just something to think about long term when you share a property.

 

It is not something I would do. As others have mentioned, see if the property can be split and each of you purchase a portion. Doesn't have to be an even split if the finances aren't right.

I used to know a guy through work who along with a friend purchased adjoining properties in the UP. They treated them as a single parcel for hunting purposes but kept them legally separate in case something happened to one of them the other was free of any future unplanned entanglements.

 

For me, the idea stinks. You can be best friends now, and all seems great until conflict arises, then the power struggle begins, not long after its a mess. Even contracts get messy when one party isn't willing to compromise
. If you can buy it yourself that would be my suggestion.

 

Just
Say
No

 

I will never go in partnership with anyone ever again , it seam I always get screwed

 

When I was in my early 20's, I went in with three buddies and purchased 20 acres surrounded on three sides by Manistee National Forest. We built a nice two story cabin with a bunch of glass and a huge deck. It was a great time for about 15 years. By then, two of the members had lost their hunting desire and seldom came up to use the propery, and then the 3rd guy decided to move to Florida. He talked the other two guys into selling. They asked me if I wanted to buy them out, but it would have cost me about 75k and we had just built our primary residence. I agreed to sell. I also often got the pleasure of thinking I had the cabin to myself for a weekend, only to have friends of friends show up on a Saturday afternoon.

I was a bit bitter for a few years, but I got over it. Never again. On positive note, I did more than quadruple my investment.

 

Never, ever, ever would I go in with someone on property. Sounds good at first but rarely every ends well.