FAQ’s

Hunting & Recreational Questions

  1. Can I get an elk tag every year?
  2. How do I know the hunting will be as good as you promote?
  3. If I buy into one of your properties will I get an elk every year?
  4. How large of a ranch do you need to offer great elk hunting?
  5. What else can I do on the property besides hunt?
  6. Can I spend as much time as I want on the property?
  7. Is there a limit to number of guests?
  8. Can we ride motorized vehicles on the property owned by the LLC?
  9. Can we bring our motor homes, travel trailers or pop-up campers to the property owned by the hunting property LLC?

 

Purchasing Questions

  1. What am I actually purchasing or investing in?
  2. Will I get a deed for a certain percent ownership of the hunting property?
  3. Are there any closing costs or points involved in the purchase?
  4. Can I have my attorney look over the purchasing documents?
  5. Will I have to put any more money into the LLC other than my initial purchase?
  6. Will I get a return on my investment or make any profits from the hunting property LLC?
  7. Why does it appear that the purchase price for all of the member interests total up to an amount that is higher than the typical value of such properties?

 

Business and Contractual Questions

  1. How do you determine the number of interests in each property?
  2. Who will manage the hunting property LLC?
  3. Why does each member, other than the Initial Member, have to be an individual rather than a partnership, LLC or corporation?
  4. Why is there a provision in the Operating Agreement to expel a member?
  5. Why does an LLC own the hunting property rather than a fractional ownership like a timeshare?
  6. Can I sell my interest any time I want?
  7. Is the ownership interest that I buy regulated as a security?
  8. Will the hunting property LLC conduct any business other than owning the hunting property?
  9. Can additional buildings or other structures be constructed on the property owned by the hunting property LLC?
  10. Why can’t the property owned by the LLC be subdivided by the members?
  11. Are there any opportunities to make money with Bullmasters of Colorado?

 

Hunting & Recreational Questions

  1. Can I get an elk tag every year? Our properties are typically in an over-the-counter elk tag unit for archery and second and third rifle seasons. In most cases you can draw muzzleloader and first and fourth seasons with one preference point or less. A draw unit may be considered if there are left-over tags for certain seasons in that particular unit or if it is very close to an over-the-counter unit for those that do not draw.
  2. How do I know the hunting will be as good as you promote? Hunting is our business. We have thousands of days of hunting experience and take our elk hunting very seriously. Our philosophy is “If we are not willing to spend our precious time hunting on a property, we won’t buy it!”
  3. If I buy into one of your properties will I get an elk every year? The average success rate for Colorado elk hunters is 22%. Colorado has the largest elk herd of any state in the nation. Twice as big as the Montana, which is the next closest state. There are many factors that come into play with hunter success. We can guarantee that we do everything humanly possible to select only the best properties and put together great groups of avid sportsmen to own those properties. Obviously, we can’t guarantee success every year, however, you can see from our photo sections and testimonials that our members are very successful and extremely happy.
  4. How large of a ranch do you need to offer great elk hunting? The size of acreage is not as important as the amount of game and non-pressured public land accessible to the property. Access to the public lands must be extremely limited to the general public. We study topos and maps for access points in addition to physical inspections on horseback and foot before a smaller type property would be considered. We also spend time with the local wardens and the Forest Service office to get their insights to the hunting on and off the property.
  5. What else can I do on the property besides hunt? Every property is different however; aside from some of the best elk hunting in the country, typically our properties are ideal for year round family recreation that would include summer camping, hiking, fishing, horseback riding, ATVing, snowmobiling and cross-country skiing.
  6. Can I spend as much time as I want on the property? Yes, as a member, you have the right to enjoy the property 365 days a year. The operating agreement for each property will determine how the cabin/s, lodge or camps are shared.
  7. Is there a limit to number of guests? Most of our projects will allow spouse and children to 21 years of age and one additional guest at no extra charge during the hunting seasons. Any additional guests during hunting seasons will be assessed a guest fee that goes into the maintenance fund to pay real estate taxes and maintenance. That fee would typically be around $50 per person per day during the hunting seasons. Outside of the hunting season, most properties allow unlimited guests during the off hunting season times.
  8. Can we ride ATVs vehicles on the property owned by the LLC? Each property will have its own restrictions in the operating agreement. In most cases, ATV’s will be restricted to existing roads on the property unless needed for game retrieval. Snowmobiles and horses have unrestricted use.
  9. Can we bring our motor homes, travel trailers or popup campers to the property owned by the hunting property LLC? This is controlled by the operating agreement of each individual property. Typically it is not a problem along as you park in designated areas and follow any time guidelines laid out in the operating agreement. The idea is to create minimal impact on the wildlife so we can always provide the best hunting possible.

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Purchasing Questions

  1. What am I actually purchasing or investing in? You will be purchasing an interest in the Limited Liability Company that holds title or legal rights to the property. For example, if you purchase a member interest in a property that has a total of 8 interests issued, you will own 1/8 the interests in all assets of the company.
  2. Will I get a deed for a certain percent ownership of the hunting property? No. You will not receive a deed for your portion of the ownership. The Limited Liability Company that you are buying an interest in will hold title and the deed will be in the company’s name. You will own a portion of that company.
  3. Can I have my attorney look over the purchasing documents? Absolutely. We have gone to great detail to provide our members with legal documentation that is easy to understand, yet covers the language that your attorney would like to see. Once you are ready to take that step, we will email copies of the purchase agreement, note and security agreement (if applicable), operating agreement of the Limited Liability Company and any other documentation pertinent to the property you are interested in. Our partner/attorney, Mike DiGiglia will be more than happy to visit with you or your legal counsel should you have any questions.
  4. Are there any closing costs or points involved in the purchase? No. There are no closing costs or points in your purchase.
  5. Will I have to put any more money into the LLC other than my initial purchase? We work hard to make sure our projects have minimal costs to the members. There are on going expenses to pay such as yearly real estate taxes, road improvement, maintenance and other possible miscellaneous expenses. These vary with each property and may range from $300 - $800 per year maintenance assessment per member.
  6. Will I get a return on my investment or make any profits from the hunting property LLC? Your purchase of a member interest is not designed to be an investment or a money making opportunity. That does not mean that it will not go up in value or that you cannot sell your interest for more than what you paid for it. In fact many of the member’s shares have gone up in value. However, 100% of all monies generated from guest fees, services, etc. will go towards keeping the members maintenance assessment as low as possible by paying taxes, maintenance, insurance or other necessary expenses of the LLC.
  7. Why does it appear that the purchase price for all of the member interests totals an amount that is higher than the typical value of such properties? There are many costs associated with the purchase and development of one of our properties. Our goal is to make ownership affordable to the average person that could never afford to purchase an entire ranch. You are buying a shared ownership opportunity with an elite group of sportsmen. In this instance, the sum of the parts is much greater than the whole.

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Business & Contractual Questions

  1. How do you determine the number of interests in each property? The number of member interests to be sold in each Property LLC is determined by elk populations, size of property, amount of joining public land, cabin or lodging facilities, etc. Generally the number of member interests to be sold will be 4-12 with opportunities for more if multiple cabins or outfitting permits are included. The important issue is to never overcrowd the facilities, land or create excessive hunting pressure.
  2. Who will manage the hunting property LLC? BullMasters of Colorado, known as the initial investors, will maintain all management until 75% of the interest in each project is sold out. After that most of the management will be turned over to those elected by the majority of the membership. Most properties require very little time or management.
  3. Why does each member, other than the Initial Member, have to be an individual rather than a partnership, LLC or corporation? It is very important that we control access and numbers of individuals using the properties. Each member interest sold must have one person designated as the actual member. On most properties, the member must be present with any other family member or guest.
  4. Why is there a provision in the Operating Agreement to expel a member? We take great pride in screening potential members to avoid having a member that doesn’t have the same goals and philosophies of the BullMaster group. We are all about relationships, preserving a heritage and hunter success. They say, "one bad apple can spoil the bunch". Although we have never had that situation, we want to be able to rectify it in a way that is fair to the member that should not be there and to all of the remaining members. The quality of the group is far more important to us than the sale.
  5. Why does an LLC own the hunting property rather than a fractional ownership like a timeshare? Fractional ownership allows you to get a deeded interest but your use of the property is limited to your percentage of investment. For example; if you purchase a 1/13 fractional ownership in a property, you get 4 designated weeks that you can use it. Ownership of our member shares allows use of the property 365 days a year.
  6. Can I sell my interest any time I want? Yes, your interest can be sold, gifted or willed at any time. The operating agreement for each property outlines the simple process you need to follow for transfers, sales, etc.
  7. Is the ownership interest that I buy regulated as a security? No. Member interests in Limited Liability Companies that own real estate are typically only considered a security if they are marketed or sold as investments or money making opportunities.
  8. Will the hunting property LLC conduct any business other than owning the hunting property? No. The LLC is not set-up to make money. If there are activities or income coming into the LLC, 100% of it will go to offset expenses and reducing the member maintenance assessment, leaving no net income to be dispersed among the members.
  9. Can additional buildings or other structures be constructed on the property owned by the hunting property LLC? This is controlled by each individual property and the LLC’s operating agreement. If any structures are allowed, they would most likely be in a designated area that would have the least impact on the hunting and patterns of the elk.
  10. Why can’t the property owned by the LLC be subdivided by the members? All of our properties are set up to provide the members with the best elk hunting possible. Subdivision of land, road building, and multiple cabins/homes only diminish the quality of hunting. All BullMaster’s properties will be restricted from future subdivision.
  11. Are there any opportunities to make money with Bullmasters of Colorado? As part of our marketing efforts, we have a referral network consisting of sportsmen and bussinesses that help share our concept. Members of our referral team can receive $2,500 - $10,000 (depending on the property) for every person theysend to our website that purchases one of our member interests. For more information about joining our referral team, contact Kent or Dick Gordon.

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