What would you do?

[Jogeephus]

Had a guy call me today wanting to buy cattle. Would pay cash and told me to name my price. Only glitch is he needs to show this expense before the new year and could not take delivery of the cattle till he got his land fenced and grass growing on it.

What would you do?

 

[J&D Cattle]

If I had some to sell I'd sell them. I get my cash now and they are as is with no warranty. I'd want an idea on how long this fence project was going to take. If resonable I'd keep them for free and build a small cushion into the price. If several months I'd have to charge rent of some kind especially since you are going to still be taking care of them. I would also want a deadline built in or they get hauled to the barn. Some people you can scare with verbiage.

A lot would depend on the guy too, if a pain in the a$$ I'd pass regardless of price. If you needed the money that bad you would have already rolled them.

 

[skyhightree1]

I agree with much of what J&D says... I would also name the price of 7k per head because chances are something funky may happen and the aggrevation and your time will be used. I also would have one HE 1 1 of a clear cut contract.

 

[HDRider]

I don't see the problem.

 

[MO_cows]

Unless I knew them or somebody who vouched for them I wouldn't enter into a deal like that. I like money as well as the next person but sometimes the headaches just aren't worth it.

BUT we don't have a year round growing season up here either. Waiting until the grass is established is probably a lot shorter wait in your neck of the woods.

 

[cow pollinater]

Sell them with a written agreement that they have to be removed by a certain date and charge him for whatever you put in in the meantime. If that removal date comes and goes haul them to the sale in his name and put a lien on them for your expenses in between the date of sale and the date you hauled them in.

 

[Hook]

Sell them at a fair price, with a deposit. To be delivered by a certain date. If the date comes and goes without full payment, you keep the deposit and the cattle. No harm no foul and fair to both

 

[Deepsouth]

I agree with hook. And he buys your hay and feed that they eat also.

 

[M5farm]

Do you want to sell the cows???? How many ??? What breed? Bred or open? Polled or horned?

 

[Caustic Burno]

Had a guy call me today wanting to buy cattle. Would pay cash and told me to name my price. Only glitch is he needs to show this expense before the new year and could not take delivery of the cattle till he got his land fenced and grass growing on it.

What would you do?

This guy is looking for a tax break.
Lot of ways to do that other than buying the cattle and you holding them.
My concern would be the IRS coming after him and I get hit in the crossfire.
It would have to be an ironclad written contract.

 

[kenny thomas]

Take his money and agree to deliver what cows you can buy for whatever amount he wants to spend at the time he gets the fence done. If cows are 1000 a head or 5000 a head is not of any concern to you. Yes he is hunting a tax break. Thats ok also. You have no profit to show because you have not delivered a product.

 

[slick4591]

Seems like whenever I get into something like that both cheeks get bitten pretty well.

 

[Aaron]

Figure out the current value of the animals and add on the cost of retaining them until April 1st (or whatever date he wants to take possession). That is the price. No warranty - one dies he is out the base value minus whatever remaining upkeep cost was not spent on said animal.

 

[jedstivers]

If he's using cash how is he getting a tax write off?

 

[3waycross]

If he's using cash how is he getting a tax write off?

BINGO

ACTUALLY IF HE HAS A BILL OF SALE HE IS ok. however IT COULD SURE PUT jO IN A BAD SPOT IT SOMEHOW IT ENDED UP IN COURT AND THE IRS THOUGHT HE WAS HAVIN A LITTLE FUN WITH THEM.

 

[Ouachita]

If he's using cash how is he getting a tax write off?

BINGO

ACTUALLY IF HE HAS A BILL OF SALE HE IS ok. however IT COULD SURE PUT jO IN A BAD SPOT IT SOMEHOW IT ENDED UP IN COURT AND THE IRS THOUGHT HE WAS HAVIN A LITTLE FUN WITH THEM.

Yep :nod: I'm guessing its a set up. Joe, who have you pizzed off? :?: :???:
I don't get the "name your price" deal. If the guy needs to spend money for a tax reason he could pay a family of amnesty beneficiaries to finish his fence now

 

[greybeard]

Do you know the "buyer"?
Does he wear a cheap suit and wear dark glasses?
Does he have soft smooth hands?
Does he drive a plain ol truck or car with solid steel black rims, black sidewall tires, and oem hubcaps?
Does his license plate look something like this?

:nod: ?
You're being set up.

 

[Jogeephus]

If he's using cash how is he getting a tax write off?

He's not so interested in this single deduction but in avoiding some problems with his noncompliance with the passive income rules in the tax code. He needs cattle to have proof of active participation.

A few years ago I probably would have done this but I've learned by assuming other people's problems is more trouble than its worth and I'm not in the business of boarding other people's animals nor do I have the desire to start. I do need to sell some but when I do I also need them to go down the road because I'm pushing my resources right now.

 

[Sunfish]

Had a guy call me today wanting to buy cattle. Would pay cash and told me to name my price. Only glitch is he needs to show this expense before the new year and could not take delivery of the cattle till he got his land fenced and grass growing on it.

What would you do?

Grass growing on it ?
It's December, but even in Georgia the grass doesn't grow in the winter does it
Ryegrass I guess but he's going to be screwed when it dies out

If he can buy the "cattle " and you keep them till spring. If they are calves and 90 days at 2# gain a day for 90 days he's making money
Bred cows would work for him too I guess
The question is what is it going to cost him
Why over pay for cattle and lose there to save on taxes
It don't add up in my mind

 

[Bestoutwest]

I'd walk. This sounds kind of fishy and if it always sounds too good to be true then it probably is.