I have spoken to a man who owns a facility. The only down side to the facility is there is only 5 acres of land with it. What it does have is 20 stalls, a small indoor and large outdoor, 2 turn out areas a brand new 2 bedroom house. He wants to rent the place for $1,500 a month. He would also be willing to sell but we have not discussed that option. You read that right $1,500 a month!! That is crazy low even for this area of the country. The facility is about 15 miles from my house. Now I don't need a house I already have one. The owner and I have talked and he explained his situation. And we are discussing a few different options.
A) We could just rent the property as it was advertised and renting out the house separately to someone else. Or even consider renting our house out that we own and moving down there.
B) I just rent the facility minus the house and in that case he would charge me only $1,000 a month.
C) He would live in the house and we split the facility. He would use half of the barn and I would have half of the barn for $700 a month. I could use 10 stalls, the arena's and the property any way I choose. He would use 10 stalls 2 of which a couple that he has used in the past to feed and clean stalls for board. That would make it so I didn't have to drive there twice a day every day to feed. He would need the indoor 2 hours a day 4 days a week and I could use it any other time.
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| This is the only picture I have of the place as of right now. |
Wow this sounds great!!! Good luck & keep us updated :)
ReplyDeleteThanks Ashley I will definitely keep you updated!
DeleteOnly a thought...many boarders really like knowing that their barn owner is on site. I know my old barn, the owner's family lived there 24-7 and would feed four times a day. Always a 7 am check and a bedtime check. My current barn owner can see the horses on pasture from her living room window. I have to be honest, but it feels a LOT better knowing that they're right there to look in on them. I'd be hesitant to board somewhere that has strangers living in the house and the barn owner is far away! Just a thought! You may want to lease your current house instead of leasing the one with the horses! Best of luck!! : )
ReplyDeleteSand. does have a good point here!
DeleteSand I do understand your point. I have always had my horses in my back yard where I can peek out 100 times a day and check on them. But there are also many situations that do not have that benefit. I think as long as people are comfortable with the facility and the care of their horse they will not count it out if I am not there 24/7. As for who would be living in the house on the property the plan is the owner would be living in the home so it is not just a random stranger. It will be the man who has owned and ran the facility for years. The option of us moving there is still on the table but we live in a 4 bedroom 2,700 square foot home on 15 acres of land. We would be talking about moving a family of 5 into a 2 bedroom 1,300 sq ft home. There is a chance that we could make it work but right now it is not our 1st choice. Once we see the house and how it is layed out we will know more. I greatly appreciate your input and keep them coming. It helps me a great deal to work through all the details. Thanks!
DeleteWow. You can't get an apartment where I live for less than $1500 a month (thank you pipeline workers). What fantastic opportunity! Keep us updated!
ReplyDeleteMare that is true for many areas in the States too. I just happen to live in rural Indiana were living expenses are low but pay is lower too.
DeleteMan I need to come live by you! Sounds like a great opportunity and I hope something works out for ya! :) Keep us posted!
ReplyDeleteKarley I can't imagine costs around you but I guess that has always been my draw to the midwest. I am a farm girl at heart and couldn't imagine not having a farm. And I know I couldn't afford it in many other areas of the country. But alas there are pros and cons to living in area.
Deletewow that really is amazing!! Would be such an amazing opportunity I can not wait to hear about this in the future!
ReplyDeleteThanks Amber!
DeleteGeez!! Wish I worked and lived closer to you. I'd go partners. hee hee! At least here, with a lease, you can get out of it after a year if it's not working for you. Make a business plan and see what you come up with. :)
ReplyDeleteKaren that would be amazing! Come on I am sure you could find a job around here :)
DeleteThe only thing that sticks out to me is the 5 acres with 20 stalls. I know I am totally spoiled where we board - 3 mares in a 10 acre pasture, 9 geldings in a 20 acre.
ReplyDeleteI agree with Karen - try it for a year on a lease if all works out. Can't wait to see more pics and here about what happens Saturday!
Kelly I agree and that is the only big concern for me also. The deal I am hoping to work out is where I only lease 10 stalls then I only have to be concerned about turn out for 10 horses. He would only be taking in a few project horses a month and he is not one to turn out. So I would have two separate pastures. I would probably turn my horses out in one 12 hours a day and rotate the others in the other turn out. I have my 2 horses on 5 acres and I am all about full turn out especially for Steady. So that will be something that I would have to figure out an answer to. If it wasn't for that this would be a completely perfect situation. On Saturday I am going to discuss with him about surrounding land that may be able to be leased. I think I could work with the 5 acres if I absolutely had to but I would agree it is not ideal.
Delete$1000 is not a good deal at all. Not trying to be a downer or anything because I do think you can make money in the right circumstance. If you are paying $1000 a month does that include hydro and water? What is the set up there? Keep in mind you also need to buy hay, grain, insurance for the property and contents, plus professional liability for yourself. Then you need to leave cushion for emergencies, new fences, buckets, feeders, hoses etc.
ReplyDeleteIf the $1000 was part of a mortgage I would say go for it, but that is not the case here.
Sharing the facility would be a nightmare, trying to arrange staff, who pays for what, and plus shared arena time. Not to mention liability issues.
I would try and rent the property with the house for $1000...then you might be better off to make some money.
I agree with the posters about 5 acres. My friend has this exact set up and the turnout is totally crap. Too many horses, not enough room.
what do you mean by "hydro and water?" that's the same thing.
DeleteHydro = electricity. Sorry, must be a Canadian term.
DeleteSounds like an exciting prospect! I'll second that I wouldn't split the facility - that's setting yourself up for frustration I feel like.
ReplyDelete