How do I buy land to homestead with family and friends?

Рет қаралды 27,324

Күн бұрын

In this video, we take on a viewer question about sharing land with family and friends to start a homestead. Is it a good idea to share land? How do you go about doing it? What are some potential issues?
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Пікірлер: 63

@jameshanggee5928 4 жыл бұрын

It might be better to get a few separate but connected pieces of land, family make the worst business partners sometimes, you need the freedom to make the right choices for you.

@AutoCrete 4 жыл бұрын

Great video! You may have crushed a lot of dreams today BUT you also saved a lot of heartache in the future.

@RedToolHouse 4 жыл бұрын

My wife calls me a dream wrecker...

@millennialmadness5138 21 күн бұрын

@@RedToolHouseyou’re just a realist

@Dan-oz4qb 3 жыл бұрын

A big problem I see is the variety of skills and work ethic of each family. I see one or two people carrying the whole load while the others go hiking in the woods yet expect a cut when the pigs are sold.

@TrackerRoo 9 күн бұрын

Put into an agreement where any profits that are shared, are shared based on work load. Contract Law does exist and you can write a contract for anything as long as it is reasonable.

@doctorparadigmshift 2 жыл бұрын

I don't think this is an issue at all! It just requires planning. If you are building a RV resort or making a housing development (buy a number of lots and make multiple houses), Trailer park, or even have a big piece of land that has zoning (it' called different things in different places, sometimes agriculture zoning in some places) it's the same thing. I know because I have been personally involved in this. You just need to speak to a developer and they can help you through the process and work with your local authorities. This will be most welcome by some rural communities if done right where the zoning is already in your favor. The host seems to be sincere, but he simply is incorrect. Yes, zoning and many other considerations come to play, but it's not as difficult at all, assuming you pick the right piece of land, ensure the correct zoning in that county, and have a good plan or planner. People have been doing this since the beginning of this country.

@andrewblocher4841 2 күн бұрын

Fantastic perspective! Thank you so much!

@SSpees Жыл бұрын

Set up an LLC or trust and set the rules for all the member managed responsibility. Discuss and outline the details.

@potawatomimko6108 11 ай бұрын

This was my thought. But then it comes down to who makes the decisions for the LLC. Kinda results in the same problems.

@billykowalski4305 4 жыл бұрын

Even when you mix it up on us I still find it enjoyable/informative to watch...."I thought we were an autonomous collective"...

@kellyojeda9634 3 жыл бұрын

We are in the process of developing a family property in NC on 20 acres. You just summed up every conversation I’ve had for the past two years. Lol also you are correct about WV. In the process of leaving this state again for the last time. The “Man” in WV really doesn’t care about anything. Lol

@patriots1needed 4 жыл бұрын

Well thought out points to ponder.

@philmorgan4807 4 жыл бұрын

Our family is considering doing exactly what was described in the video, and this provided outstanding advice for us to consider! Really appreciate the work and time that went into preparing it!

@user-ye2em3fn4o 2 жыл бұрын

I am just considering this type of homestead also. How are you doing with your situation? is it working out?

@jburch1544 4 жыл бұрын

Everybody better get a good contract/lawyer. This could go south quick. Human nature should not be left to feelings/handshake agreements. Lawyer up for this unfortunately.

@keithkb7zpb688 4 жыл бұрын

Very well put. My grandparents had land with a main house and other small cabins for us to stay in and all gathered together in the main house. Have an awesome day and love your video's

@JohnSmith-tv5ep 4 жыл бұрын

Troy, you're a smart man. Thanks for the video and interesting details about land ownership.Built a house 38 years ago when I was 26. on my Father-in laws property on a hand shake. Boy, could I tell you a story bout my Father -in law, and his two daughters and two sons !

@MrHunterseeker 4 жыл бұрын

I can't say the group thing ever works unless it's family and even then it's a good way to get your killing done, over land disputes. Edit: after watching the whole video, I don't agree with this powerpoint presentation for investors. (at least thats what this video feels like). You should never involve family or friends into business. It will ruin relationships AND/OR will make for a less than optimal work environment because of human nature. Not knocking anyone personally because this is a fact for EVERYONE. This is a good video for people that are not your family and for strangers that you can work with. If you plan on going about this like the video shows- keep it professional relationships that way you can keep everything on the up and up. You will be able to share the workload without having hard feelings and always have the ability to buy/sell out of your partnership when things inevitably get rocky. Contracts. lay out in the contracts responsibilities and what exactly happens when the requirements of the contracts are not met. That way everyone knows what they are responsible for. It sounds like you are trying to make a commune, which is great, but there will always be the true nature of humans. There will be days when the people living on your commune don't feel like working or wanting to go do their own thing when there is stuff that needs immediate attention and it will get neglected. What then?

@ontogeny6474 4 жыл бұрын

Yes. At one point my wife was pushing for a family commune of sort, a co-existing, happy-land fantasy on our 20 acres. One of the few times I put down my foot. I think it surprised her :D

@stephenseman8863 4 жыл бұрын

You missed the option of a land trust, something I am looking into.

@rachellebutler3369 3 ай бұрын

Great Video! Several of my siblings and I are looking into this!!! Thanks for additional topics to discuss!!

@wytwabit 4 жыл бұрын

My son is actually trying to do this up in Washington state. He's found 40 acres SSE of Olympia and is trying to buy it with contributions from family members who will live on the property. His in-laws are on board, his wife's grandmother, and he wants me to move out there, too. I'm thinking about visiting, buying a camper, and putting it on his property to allow for visits by me and other family members.

@JT-cf5ol 4 жыл бұрын

hope he was wise enough to get a pre-nup. That could end up messy for everyone.

@metroplexchl 2 жыл бұрын

This has bee HUGELY helpful. Thank you.

@TheVargaGirl 2 жыл бұрын

Exactly the information I was looking for on this subject. Thank you.

@kenjett2434 4 жыл бұрын

Great points Troy and I too can say that from experience. My oldest son is experiencing alot of these issue on a homestead piece of land and cabin. He inherited a 33% share of it shared with 2 uncle's. Both uncle's have kids and they all want to be the boss in control. It's a real mess as they was a good bit of equipment that went with the inheritance. Before something happens to me I plan on getting my kids together to see want they want for my little homestead. They are great house sites for all of them even though it's only about 5 acres. So before I am gone that issue will be presettled.

@thfield2417 5 ай бұрын

This is really excellent. A great way to guide the discussion with all parties involved. Thank you!

@deborrahdutra5599 4 жыл бұрын

Great ideas

@trailsmadeeasy 2 жыл бұрын

I love the simple explanation and information thank you.

@petruzzovichi 4 жыл бұрын

One of your BEST videos. This is not as exciting as "standing heat" but excellent advice regardless. Nice job. Thank you.

@RedToolHouse 4 жыл бұрын

Very few things are as exciting as standing heat. That is the pinnacle of KZfaq entertainment!

@thomaswright6250 4 жыл бұрын

Thank you it was very helpful

@cowboy19750 11 ай бұрын

Very great video on sharing some good insights

@aovoonthefarmsouthernillin3687 4 жыл бұрын

Nice video.

@davesusek3330 4 ай бұрын

Great video.

@vc663 2 жыл бұрын

Wow thanks for this video. My family members and I have been considering this for about 2 years now.

@jodysappington7008 4 жыл бұрын

something to think about...don't think i could though.....have a good day

@AdventuresinPopUps 9 ай бұрын

Appreciate this chat. Thinking about what could our options be to use our budding homestead to open some kind of CSS, community garden or ministry

@Anne_p 4 жыл бұрын

So very interesting I’m planning to buy the land and make space available for free to my mother and maybe my sister for homes.

@niamh2739 10 ай бұрын

Can I pose a different scenario? What about a family land trust ? With a single executor/fiduciary? Obviously purchased outright no bank. No split individual ownership of parcels more like the land belongs to the family. The sole executor also the purchaser of the land makes decisions. Thoughts?

@aNaturalist 3 жыл бұрын

I'm going to sell a vacant lot that I own in a city and buy some farmstead land. I used to want to build an ecovillage. I haven't wanted that for several years (knowing that 90% fail before the people live on the land), but recently it feels tempting again. I'd would not be doing this with family. My brothers and father each own their own acreages and livestock. I get along with them, but do not share their political or religious beliefs. So, I'd be looking for secular permaculture types to buy land with. First, to the people that mention in the comments that other people keeping up their end of the work, that's only if people go in on certain animals or crops together. People can live in a community and not have shared projects or investments. A true commune is income sharing, and that's not what was discussed on this video. Some things that give me pause: 1. Just as Red mentioned, people change and people disagree often too. 2. I have lived on three different properties with groups of adults in rental situations. In the first house of five adults, one was a heavy metal musician that started practicing again after years of a break. The second property was less friendly, but we had our own dwellings, and the lady that owned the place had good rules about keeping things clean. Now, I live on an old dairy farm with 10 adults, including the two owners. Three of the other tenants back here look like hoarders. There's too much clutter. We're raising a few feeder pigs together. Doing that with one buddy, that went smooth and was great. Doing it with 7 people is cumbersome and barely worth it, but it is working. What I'll most likely do: I don't have kids and don't plan to. I'll probably build 2 or 3 little tiny houses behind my own small house, and rent them out to people that are serious about gardening. It's the "benevolent dictatorship" route, like the place I live on now (my landlord actually was the founder of a 60's commune that is still going, but changed to not being income sharing. Now, he wouldn't do that with this land, but loves having like-minded tenants).

@roscmon Жыл бұрын

I'm curious if you were able to follow through with your idea and how it worked out.

@LK-bn7sz Ай бұрын

You need 40 acres per single housing, not even a garage with an ADU over it where I live, so a family compound would be gigantic and expensive.

@ratedmark4704 2 жыл бұрын

Solution - one person owns everything. Allows work too be distributed based on what each family would like to manage - however it has to benefit the overall community. I'd also want someone who has a really green thumb, and loves to go to the farmers markets and sell produce. Also someone who would manage animals etc. 5 to 10 families only - I've been looking at few thousand acres in Elko County Nevada - since there is no building permits etc sounds like an okay area.

@roscmon Жыл бұрын

Not a good solution at all. If someone is putting in work and helping to build a homestead, they need to know they have some kind of asset in their name. Otherwise, all they are doing is working to have free rent, and that is an awful deal. Plus, whoever owns everything is the authority, the boss. I own 5 acres right now but am considering going in with someone on a bigger piece of land. Even I don't agree that the other person shouldn't have their name on a deed. People will be more willing to contribute and work if they are owners rather than just labor traded for rent. Someone works and builds for 20 years on a piece of land, and then gets into some kind of accident and needs assisted living would have no asset to sell after all those years of increasing the value on someone else's land. It's not right. I'd certainly not want to live on someone else's land and wouldn't expect my partner to have nothing in his name. Because what if it was all in my name, and someone helped me for 20 years, and then I die... would that person then be homeless because no provisions were made to make sure his/her home is his/hers?

@azhomesteaders5028 3 жыл бұрын

We found out about the 1house per plot of land restriction by the county after land purchase; wasn't something we knew to ask about before hand.

@mel_pnw 2 жыл бұрын

Check with your zoning ordinances and building codes to see how you can divide your parcel in this case. Strictly why we are looking in certain counties out of state. Its a lot of research. You can also look at that county's public hearing minutes and research the topic you're interested in. If you're interested in adding a special circumstance ADU or multiple family dwellings, you can see how the county usually decides if they'll allow it or not.

@nicholaslachapelle6256 3 жыл бұрын

You know what they say about opinion..... ELBOW

@niamh2739 10 ай бұрын

Considering buying land in West Virginia myself. It seems daunting coming from the outside knowing nothing of the state. Advice? Suggestions? Best areas to buy large parcels of land ? How is the growing season there? Can you grow much? Is it hard to get people /companies out to help with clearing, wells, electricity etc…?

@jalopyjoe4483 4 жыл бұрын

Was hear

@user-hu8rc7jd4n Жыл бұрын

But what if you wanted to do this and not have a farm is there any beenfit

@tracielang9500 Жыл бұрын

Sounds like time for a trust set up and a lawyer

@polluter1986 3 ай бұрын

It starts out ok, but when work needs to be done no one is around… just a single person or one family only.

@sixfourhim Ай бұрын

Do you still have a KZfaq channel?

@RedToolHouse Ай бұрын

Yes. Post a new video every Sunday

@paintballer7171986 4 жыл бұрын

You don't go into business with friends or family, it always ends bad.

@MrHunterseeker 4 жыл бұрын

This.

@badger_actual8249 Жыл бұрын

Not true

@NC_SUGAR Жыл бұрын

Paintball, my entire side of my grandmother's family lived in a small town in a rural area of NC. and they lived there since around 1876. Right on down to my mother. They each have about 10 acres. They had my great great aunts, my great aunts, my great, great grandmother, then later great and my grandmother and my mother. My great great and great uncles lived there too. Some family members are still there. They even named the road they made after our family. Each family had a garden and cows or chickens and hogs. Each woman had something she was good at and so did the men. Some plumbing others building or electrical later. Some of the woman traded canned or baked goods for medicine others made. They helped each other dig wells and slaughter cows and hogs. The woman took care of the chickens and helped a lot in the gardens. We had most everything we needed. The agreement they had was to pass their home land to their children and if they didn't want it they could offer it to the ones already there. It worked pretty good for over 100 yrs. Still does for the ones who stayed. If an entire branch of family wanted to leave, others just bought them out. People didn't put their elderly in a home. They stayed in their own home as long as possible and the younger kids went over to help them out. If they got real sick, they moved in with their children until they passed. Then the grand children from that branch, split the land.If they grands didn't want to stay, the land was offered up for sale to other family members with kids. The agreements were always know from the beginning so there was never an issue. Each family member knew and understood just as people know laws or rules. We use to ride our horses to each others houses to visit. Very few had cars. Mostly a few trucks for going to town about every 3 or 4 months for the few things we didn't grow. But back then everything like agreements were registered in our family Bibles and nobody would dare mess that up. But that was when people took turns having prayer meetings at each other's houses and singings.. OH I miss those days. Us kids would go blackberry picking together cause the elders would make us pies. We took them apples in the fall and peaches in the summer. I know this is way long but I hope I never forget. We needed each other so we made it work. When people depend on each other for survival they seem to care more about each other. They're vested in family more.

@b_real2 Жыл бұрын

@@NC_SUGAR beautiful ❤️❤️