Buying Ranches for Sale in Colorado? Know How to Manage Ag Supplies
Like any investment, ranch real estate ventures entail comprehensive planning, so you can truly make the property a profitable one. If you’re thinking of buying ranches for sale in Colorado, for instance, you need to have a strategy on how you’ll operate the property and maintain it. Detailing how you will manage your basic agricultural supplies, such as energy and water, should be part of that strategy.
The recently concluded Legislative Conference of the Colorado Farm Bureau can offer any prospective ranch owner insights regarding the importance of those basic agricultural supplies and the laws governing them. During the session, the bureau stated their position on bills that primarily affect energy and water.
The speakers in the assembly pointed out that the oil and gas industry brings tremendous impact to the agriculture industry in the sense that higher natural gas prices or stricter regulations can hinder the profitability of farms and ranches. Bills on water resources have the same effect, since provisions of additional water supply and the protection of a rancher’s water rights allow these entrepreneurs to have ample resources for their property and to efficiently sustain or grow their crops or livestock.
When you map out your property’s tactics involving these supplies, the laws relevant to their use or sale should be one of the initial things you should be sensitive about. Those bills will give you an idea on where you can get majority of your supplies, how much you can get or sell, and what farm or ranch functions you can fulfill with them (e.g. energy for farming technologies, water for irrigation or cattle feeding). You would also learn what your responsibilities are when harnessing, using, or selling those resources from your property, such as ensuring safety.
Once you know your rights, limits, and duties and you’re able to break down the specifics of where you’re getting those ag supplies and how you’ll be using them, you should then find ways to mitigate threats to your resources and prepare for calamities. You might want to gather information on the grants or aids you can receive for alternative or renewable sources of energy or for natural disasters like drought.
Of course, you must continuously employ wise resource management and enhance it any way you can throughout your ranch operations. You might want to seek the guidance of experts. Aside from offering some of the most viable Colorado ranches for sale, professional ranch consultants like Mirr Ranch Group can help you form a detailed plan in managing your resources and other aspects of your property.
(Source: Colorado Farm Bureau talks oil and gas, water at legislative conference, Marcellus.com)