Experts Journal

The 2020 Land Report 100 features the debut of Bill and Melinda Gates as America’s leading farmland owners with 242,000 acres of productive farmland in more than a dozen states. All told, the Gateses own more than 268,000 acres of farmland, transitional land, and recreational properties and rank No. 49 on the Land Report 100.

Professionals working in Montana's real estate market say sales of high-end properties have experienced growth in 2020 far beyond their expectations. The state has recorded sale and price figures that are among the highest in the nation.

The underlying theme you must recognize in making a land purchase is: Land has become recognized as an investment-class asset. While you might have many personal objectives when buying land, it is important to consider the investment qualities first before layering in personal objectives. Because, at the end of the day, your major return from this investment is most likely, and most predictably, to come from the appreciation of the asset as opposed to profits from any business operated on the property.

For the nearly 50 years I have been involved with the sale and management of ranches, I have preached the same gospel: Just because you own a ranch, doesn’t mean you have to own cows. The reverse is also true: Just because you own cows, doesn’t mean you have to own a ranch. How does that apply to the future of ranching?

Apple co-founder Mike Markkula relists his 14,000 acre California ranch in the desirable Carmel Valley for $37,500,000. Known as Rana Creek Ranch, the property is the largest landholding in Carmel Valley and is currently being operated as a cattle ranch and owner's retreat.