Here are some factors to consider when buying a ranch in Texas:
- How many animals can the property support
- Get information about tax consequences, tax deductions, etc.
- How much time do you need to manage the property
- Gross income expectations
- Labor costs you need to operate the property
- Materials needed by the labor you hire
- Equipment purchasing and financing costs
- Upcoming repairs to equipment
- Local laws which affect your property and business
- Factors affecting prices of cattle, cotton or whatever commodity you intend to sell
There are many other things to consider, but hopefully this gives you some ideas to get started before you purchase your next farm or ranch in Texas.
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