#234 - He Skipped The 1031 Exchange On Purpose — And Made Money Doing It with Michael Engelmeyer

Welcome to the land podcast, a platform for people looking to educate themselves in the world of land ownership, land investing, staying up to date with current land trends in the Midwest, and hearing from industry experts and professionals. On today's episode, we are back in the studio with Michael Engelmeyer. We discuss: - Michael buys his first 80 acres as a tax play and leases it back to his own photography studio. - He "liberates" an underground spring with a bulldozer and has four gobblers on the dam by sunrise. - Michael doubles his money in three years, going from $1,400 an acre to $3,000 an acre. - He sells the farm himself with a full-page newspaper ad built from his own trail camera photos. - Michael skips the 1031 exchange on purpose, pays the capital gains, and invests the proceeds. - He explains how a 90-day 1031 clock pushes buyers into farms they never should have bought. - Michael walks away from a 3,400-acre Ozarks ranch over $200 an acre and gets it a year later. - The sellers refuse $1,500 an acre at auction, then call him back and take $1,100. - He argues square and rectangular parcels hunt better than odd-shaped ground at any price. - Michael's due diligence starts with a drone and a call to the sheriff about meth in the area. And so much more! Chapters: 0:00 The 1031 Everyone Does, and Why He Didn't 0:58 Meet Michael Engelmeyer, Great Outdoor Studios 1:31 From St. Louis Fashion Shoots to the Outdoor Industry 4:27 Why He Bought Land in the First Place 5:13 The 80 Acres Between Two Big Tracts 6:19 Trading Hunting Rights for Construction Equipment 7:19 "Liberating" a Spring to Build a Pond 9:55 Four Gobblers on the Dam at Sunrise 10:58 Leasing the Farm Back to His Own Business 13:17 Doubling His Money in Three Years 17:40 The Neighbors Lowballed Him 19:36 Selling It Himself With a Full-Page Print Ad 22:39 $1,400 an Acre In, $3,000 an Acre Out 23:36 Why He Skipped the 1031 Exchange 27:20 Square or Rectangle: The Property Shape Rule 31:56 Finding the 6,000-Acre Ozarks Ranch 36:15 The Auction and the No-Sale 39:52 The Call a Year Later: Bought at $1,100 44:09 Treat Your Twenties Like Boot Camp 46:55 His Punch List: Drones, Aerials, and the Sheriff 51:04 Keep the Farm Within an Hour of Home 52:34 If He Started Over With $100,000 54:29 Why He'd Never Buy Land With a Partner 57:16 Patience, and Why Land Keeps Going Up 59:26 Where to Follow Michael Thanks again for all of the support from our partners—none of this would've been possible without them! - Buck Land Funding: https://www.firstbankers.com/bucklandfunding  -Hawke Optics | Use Code WHTL for 15% off: https://bit.ly/hawkeoptics_  -OnX: https://bit.ly/onX_Hunt  -Painted Arrow: bit.ly/PaintedArrow  - Latitude Outdoors: https://www.latitudeoutdoors.com/  - Use code 'HOFER' to save 10% off at www.theprairiefarm.com  - Massive potential tax savings: ASMLABS.Net