I am buying a farm:
I have been looking at farm ground for my family. Unfortunately, most affordable farm ground is 30 minutes from the nearest community, so I have decided to bring the community to the farm. I am looking for 45 families to go in on a large 500 acre farm. Lots will range from 1 acre, 2 acre and 5 acres. The rest of the ground will be owned and operated by the community.
The farm will be purchased using an LLC. When a lot is purchased it includes a 1/45 share into the LLC that would own the farm. The lot prices will range from $100 to $200K. Monies from lot sales will go towards:
· Lot improvements (power, road, sewer, water, phone)
· Community center (with genealogy center)
· Horse barn
· Equipment shed
· Grain silo (storage for community grain)
· Hay shed (live stock)
· Horse corrals
· Parks (play ground, outdoor pavilion, soccer / baseball field)
· Farming equipment
Ground - $2 - $3 M
Amenities - $2 to $2.5 M
I have been working with several land owners to provide owner financing for a term of no less than 5 years. This will allow enough time to take the ground through Planning and Zoning, build infrastructure for the lots, and sell enough lots to pay the "seller".
The intent of this letter is two-fold, one is to gather a working list of those parties interested. Second; I need to raise $500,000 as a down payment, infrastructure for the project, and carrying costs. My intent is to find 1 to 5 individuals with the requisite capital to start moving forward.
Purpose of Farm:
The farm really has a multitude of purposes, the order of importance will vary from one individual to the next but essentially this is my list:
1. A healthier environment to raise kids (this statement is almost too simplified, but suffice it to say a farm can be a great class room)
2. A gathering place for my family (both immediate and extended)
3. A place of retreat from natural disasters
4. A place of security in times of recession or even a deep depression
5. A place of refuge from civil unrest
I have two locations in mind, and two separate farms that could qualify. The locations of which will be disclosed upon verbal request. As I am seeking partners for this venture additional input is needed to make a final decision, as well as final negotiations with the Seller.
(REPLY to AVOW member) CC&R will need to be drafted. As you can imagine they will need to be very unique and specific to this type of a community. I want to involve the initial investors (1-5) in brainstorming ideas, with 45 families we will want to take the time to do this right, it may take some fasting a prayer. And some impute and direction from someone wiser then me =).
One thought came to me and that was to have 3 smaller, 15 lot groups within the project (45 lots total), the small groups will 'govern' themselves so to speak, then when a issue arises involving the community as a whole then one representative from the 3 groups will each have a vote. Clear direction and order is important, especially if rougher times are ahead.
Speaking of rougher times, I personally feel like we will have 2 - 5 yrs (maybe longer.) before any kind of larger gathering takes place, this community is a great way to whether the storm before any kind of future gathering happens. Plus I want to surround myself by 'like minded' individuals, I'm tired of always feeling like the minority on the issue discussed here in AVOW.