A LETTER FROM OUR PUBLISHER

FROM THE PUBLISHER

Dear Land Investor,

Seven years ago, Republic Ranches and Fay Ranches forged a successful alliance that continues to provide our clients access to the largest network of landowners and qualified land investors in the country.

This year marks the publication of our sixth edition of Land Investor magazine. It has been a unique and challenging year for everyone amid a global pandemic, causing widespread health and economic impacts and changing how people think about the value of land. We saw a significant uptick in sales volume as a result of the pandemic and social unrest. The land and ranch market is stronger than ever as people seek social distance and safety for themselves and their loved ones, while still seeing land as the sound investment it has always been.

The Fay Ranches and Republic Ranches agents are highly competent, knowledgeable, and experienced professionals and have established a powerful reputation nationwide. The four pillars Fay Ranches was founded upon in 1992 remain the same: Family, Conservation, Investment Value, and Sporting Pursuits. While they are all important and at the core of everything we do, there is a reason that family comes first. When thinking about our own homes, our favorite memories are those we share with family, whether fishing, hunting, horseback riding, or enjoying time spent around a roaring fire. In these uncertain times, we also know how much our clients value the feeling of safety and security for their families that comes from owning rural land.

The strategic alliance between Fay Ranches and Republic Ranches provides our clients access to an incredible diversity of land investment knowledge and an enormous amount of land investment opportunities from coast to coast. One thing that hasn’t changed since our humble beginnings almost 30 years ago is our adherence to the four pillars, and our effort to treat everyone—from our clients to our colleagues—like family. In these trying times, we are still just as committed to helping our clients find the right property for themselves and their loved ones, and know that our work is in some ways more important than ever before.

If you’d like to learn more about the investment characteristics of land, please give us a call. And if it’s time to divest from a land asset, we’re here to help.

We hope the coming year is filled with good health and joy for you and your loved ones. All the best.

Sincerely,

Greg Fay Founder/Broker Fay Ranches, Inc James Esperti Partner/Ranch Sales Fay Ranches, Inc

Mark Matthews Partner/Broker Associate Republic Ranches, LLC Bryan Pickens Partner/Broker Associate Republic Ranches, LLC Jeff Boswell Partner/Broker Associate Republic Ranches, LLC

Charles Davidson Partner/Broker Associate Republic Ranches, LLC

John Wallace Partner/Broker Associate Republic Ranches, LLC

LAND INVESTORTM

TABLE OF CONTENTS

LAND INVESTORTM

PUBLISHER: Greg Fay, Founder, Broker Fay Ranches, Inc. 395 Gallatin Park Drive Bozeman, Montana 59715 Phone 800-238-8616 www.fayranches.com

EDITOR, ADVERTISING SALES: Ashley Keller, Fay Ranches

CONTENT EDITOR: Alex Lovett-Woodsum

MAGAZINE DESIGN: C&S Creative, Park City,UT

A SPECIAL THANK YOU: To the team who makes this all possible: Virginia Thompson, Heidi Maxwell, Sarah Sloan, Meredith Johnson, Allison Miles, Denise Adams, Jesica Hicks

©2020 FAY RANCHES, INC. FEATURES 3 A LETTER FROM OUR PUBLISHER 6 WILL 2020 FORESHADOW A BOON IN RURAL LAND SALES? 8 RAISING KIDS AND CATTLE 10 THE DREAM OF OWNING LAND FOR FIRST-TIME BUYERS 12 STRATEGIES TO OWNING A RANCH FROM AFAR 14 THE ULTIMATE ESG INVESTMENT 16 SPORTSMAN’S CORNER: TEACHING OUR DAUGHTERS TO HUNT 17 SEVEN SIMPLE MISTAKES TO AVOID WHEN PLANTING A FOOD PLOT 18 WYOMING’S SPLIT ESTATE 20 PIONEERING WASHINGTON’S WINE REGION 22 PURCHASING A RANCH IN NEW MEXICO

PROPERTY GUIDE 26 MONTANA 60 44 COLORADO 74 48 IDAHO 76 54 WYOMING 80 58 SOUTH DAKOTA 82

PACIFIC NORTHWEST SOUTHWEST SOUTHEAST MEXICO TEXAS