My Future :o

[red]

Make sure you have everything in writing & documentd on how it is to be split or divided. I think that is a good insurance policy.
I guess I think it is less money to AI rather than have a herd bull. You could AI as many as possible & maybe get a clean-up bull.
Like they said, continue your education & I wish you the best of luck!

Red

 

[chambero]

There is a potential pitfall to investing a lot of "extra" money in show quality or high quality purebred cattle.  If you don't own the land and someone pulls a lease out from under you, you can get stuck in a very bad way.  It is almost always hard to sell those animals for a reasonable value above market "in a hurry".  I would never (and I mean never) spend a lot of money on cows (again money above reasonable commercial market value) without a written long-term lease agreement with some pretty favorable provisions for you in case the land is sold.

On paper, rural agricultural land never (or rarely at least) has the appearance of a good investment to someone that is inheriting land.  They money generated on an annual basis from a grass lease doesn't come close to the interest someone could generate from selling that land and investing it in the stock market or anything else city people do with their money.  If the land doesn't have some kind of sentimental value, people inheriting land will generally sell it as quick as they can - leaving you in big trouble if you owe too much on cows with the bank.

A long-term lease and 100 cows is a great deal if your livelihood isn't totally dependent on it.  It can be a big trap if you don't have any other options.  When I buy a cow (or bull or steer whatever), my litmus test is can I get by if lightning strikes the whole bunch of them the day after I buy them.  Maybe I'm too cautious, but a wide variety of disasters can hit you in the cow business.

Not trying to scare you off because I'd probably try to figure out a way to make it work if I was in your shoes, but don't go in blind.

 

[TottenClubCalves]

I'm in his will to get the property and acreage already I have been for the last five years since he set his will up. I just never really considered taking it over right know lbut later on in Life. The market up there for Clubbies is slow there are only maybe 4 breeders around that have decenct show quality and he lives right by the state fair grounds, so ifigure that showing some of my calves at the state fair will be some good advertising since alot of the serious show people will attend state fair. I realize that the commercial is still a big part and I think that I'm going to split 5o commercial and 50 clubbie try and get some better bloodlines in the angus and keep breeding those clubbies

 

[shorthorns r us]

a will is no better than toilet paper.  a trust actually transfers ownership and are much more difficult to challenge.

 

[TottenClubCalves]

thats what where going to do if i decide to go up there I'm just saying that I am in his will is all. He is willing to give me everything and transfer ownership but he is going to still help me after ownership is shifted and show me how to manage the cattle.

 

[cowz]

Does he have any children of his own?

 

[Gypsy]

You have gotten lots of good advice here.  My post is mainly just to re-interate what several have already said, in a little different way.  Afhm said to go "intern" with your great Uncle for a year or so.  Absolutely.  Let him help you learn how to work a HERD of cattle.  Working a HERD is lots different than raising a couple of show steers or heifers.  As is maintaining a barn and small lot for a couple of animals versus a farm with the fences and water systems and hay raising to maintain and/or improve.  Learn how your Uncle has done it first then, figure out where you want to go with it and how you are going to get to that point.

Chambero is right in telling you that you should expect to sell a calf for about $600.00 and that is before any expenses.  Remember that you will have utility bills, (electricity, phone, gas/propane) for a house? and well(s).  You will need a vehicle and the associated expenses with that.  You will have fencing and equipment expenses.  You will have expenses associated with putting your hay up.  Vet, vaccine, and supplemental feed and mineral expenses for the cows and calves.  And also taxes, property and income.

I don't know West Virginia but, I do know that there are a lot of places in the USA that will support 100 cows on the acres that you will have (mine is not one of them  :'().  100 cows is not too many for one person to take care of.  JMO.  Along with your "internship" I really would encourage you to get a degree, two or four, or train in a vocation that you enjoy.  Something to provide additional income.  You are going to find that $60,000.00 less all the expenses is just not much.  Now, while you are young and don't have the responsibility of providing for a family is the time to spend the time necessary to do this.  If you can find another thing to do that you enjoy then if you want to expand your operation you will find it much, much easier to do. 

The above is JMO, and I hope this works out as great as it sounds.  What a great opportunity your Uncle is presenting you with and how blessed you are!  This could be an awesome stepping stone for you.  Good luck and work hard!  Hard work is 10 times better than luck.  I am proof of that, I'm not very lucky, but I don't mind hard work, so I've been able to get where I wanted to go.    You've got the luck apparently, work hard with along with it and you'll do great. (clapping)