Broadway Bank Wealth Management Understands The Value In Owning A Piece Of Texas
By: The Broadway Bank Wealth Management Team
Rural land is important to Texans, while many of us enjoy the great outdoors to “get away”, there are also financial benefits and considerations for owning a piece of this great state. As you consider how you want to build your legacy, rural land can play a unique role in your overall wealth portfolio. Broadway Bank Wealth Management has a long history of providing oversight for farms and ranches in Texas. Our team has the experience and expertise to do the heavy lifting to help you maintain, improve, and grow this unique asset. In 2019, The Real Estate Center at Texas A&M University reported that almost 6,000 rural land transactions occurred with a hefty 5.4% year-over-year price increase. While most of these properties were purchased for recreational use—owners should explore their options for gaining additional revenue from this natural asset.
Regarding assets, the lease rates for hunting property continue to increase with rent eclipsing the $15-per-acre mark that had become common. In 2018, the U.S. Fish and Wildlife Service reported that hunting-related expenditures in Texas totaled $1.8 billion. Of this amount, $837 million accounted for food, lodging, transportation, and other expenses. Those seeking to participate in this sport through excursions will spend anywhere from $500 to $20,000 for a single hunt. The total economic impact of this recreational sport makes it a viable option for landowners looking to gain revenue from their rural land. Texas has some of the nation’s best outdoor recreation opportunities. Each year, those seeking to create memories and enjoy some time in nature, flock to our great state. As you work to build your legacy, consider the value of landownership, it could be a revenue generating asset now and for future generations.
For 80 years, Broadway Bank has been an integral part of South Central Texas, evolving into one of the largest independently owned banks in Texas with more than $4.6 billion in assets and $2.6 billion in Wealth Management assets, Broadway Bank offers a full range of financial services, including personal, private, business and mortgage banking, and wealth management, and is committed to enhancing the banking experience through leading edge technology. With financial centers across San Antonio, Austin and the Hill Country, Broadway Bank delivers modern banking, locally sourced and personally delivered.
ABOUT BROADWAY BANK’s FARM AND RANCH MANAGEMENT TEAM: Our Farm and Ranch Management Team is led by Kyle Gubernator who has more than 32 years of experience in the Real Estate Industry, and 22 years managing Fiduciary held Real Estate and Farm and Ranch assets. Prior to joining Broadway Bank in 2014 Kyle served as a Vice President and Regional Manager representing the management of a fiduciary real estate portfolio for a global bank. He currently serves on the Texas Bankers Association’s Asset Management Task Force who develops and organizes educational events for trust and estate professionals. If you are interested in learning more about our Farm and Ranch Management team or are considering the purchase of land as part of your overall wealth portfolio, contact Kyle Gubernator at kgubernator@broadway.bank or visit Broadway.Bank/Wealth.
INVESTMENT PRODUCTS ARE: NOT FDIC INSURED • NOT A DEPOSIT • NOT INSURED BY A FEDERAL GOVERNMENT AGENCY • NOT GUARANTEED BY THE BANK • MAY LOSE VALUE
*Source for real estate facts: Victoria Advocate and Texas Outdoor Digest
