The most important thing when investing in agriculture is having a firm, detailed plan. It is what most first-time investors miss. Before you buy, you must confirm that the land parcel suits your needs and meets five criteria, among them zoning, highway access, and water rights.
Learn the details on investing in agriculture plus the other details to attend to in your business plan in this video.
When you make an in-person visit, make sure the location suits your needs and provides you with quick access to your residence.
Follow the old but good advice about buying the land next to you. Also, look for old homesteads so you can nab high-value properties with water rights tied to them. Water rights inherently increase a property’s value.
Always have a backup plan, too. You can salvage a farm that doesn’t work out by purchasing land zoned light industrial or agricultural.