Building a Legacy Through Partnership: A Farmland Investment Journey

When Brent Haverkamp first bought a small rental house in Ames, Iowa, back in 1991, he didn’t realize it would eventually lead to founding Haverkamp Group—a thriving real estate investment and development company. What started with multifamily properties expanded over time into a larger vision—one that included investing in one of the world’s most enduring assets: farmland.

“The vast majority of my net worth was in multifamily real estate,” Brent said. “I was looking for a hedge."

He and longtime colleague Paul Wilken first discussed investing in gold and silver. But Paul had another idea. "I said, if you like gold and silver, you should love farmland," Paul recalled. "You get a return with farmland, and you get all the other benefits, too."

Brent admitted he hadn't really considered farmland before, but after learning more, he found it compelling. "The unlevered returns of farmland are very similar to apartments," he said. "Apartments, you might have 6-7% cash returns with 3% inflation. Farmland is almost the reverse: maybe 3-4% cash return with 4-5% inflation."

Over the last decade, Haverkamp Group’s farmland investments have steadily grown—guided in no small part by a partnership with Hertz Farm Management.

Learning the Ropes

New to the farmland market, Brent and Paul began by attending auctions to better understand the landscape. "You probably have to go to a half dozen auctions to understand the culture and how it works," Brent said.

Their relationship with Hertz Farm Management started early as they ran into various Hertz Farmland Professionals at different auctions. "They were so free with their time," Brent recalled. "We learned a lot just talking with them."

The first farm Brent purchased was through an auction in 2015 or 2016. "It was exciting, but a bit nerve-wracking," he said. Paul remembered a different auction that didn’t go as planned: "We thought we got cheated," he joked, recalling an instance when bidding resumed unexpectedly after a break.

However, over time as their experience grew, so did their sophistication. "At first, it was just dollars per CSR," Paul said. "Now, we have a full model we put farms through."

Photo: Brent Haverkamp, Founder and CEO of Haverkamp Group

A Partnership That Grew

What began with a few helpful conversations evolved into an ongoing management relationship. "When we first bought land where we didn't know the farmers, we reached out to Hertz," Paul said.

They were connected with Hertz farm manager Tom Carlson out of the Humboldt, Iowa, office, and later expanded to work with Scott Henrichsen and Carrie Seidel as well.

“One of the biggest benefits of working with Hertz is the strength of our entire team,” explained Tom. “When you work with Hertz… you get the team. There’s always someone there to help.”

“We are able to help [Haverkamp Group] explore an area that they’ve maybe not been in before, help them find a tenant, and make informed farming decisions,” said Carrie Seidel, based in Hertz’s Mason City, Iowa, office.

“We’ve learned just huge amounts from Tom, Carrie, and Scott,” explained Paul. “Whenever we have questions… about the farms… I give them a call… It’s a good partnership.”

Hertz has also helped Haverkamp Group buy and sell farmland throughout the state.

"We've had several Hertz managers help sell farms for us," Paul added. "Carrie, Tom, Scott—all have been involved."

Photo from left to right: Hertz Farm Managers Carrie Seidel, Tom Carlson, and Scott Henrichsen

Stewardship at the Core

For Haverkamp Group, stewardship isn’t just a core value—it’s a practice. "We want to leave every property better than we found it," Paul said.

That approach has fueled several conservation initiatives. In Floyd County, for example, they are working with Carrie Seidel on a wetland project through a state program. Other farms have seen extensive tiling, CRP enrollment, and other stewardship-focused improvements.

“They play the long game,” said Hertz Farm Manager Scott Henrichsen. “They don’t make a decision for one season at the sacrifice of future seasons. It’s about doing the right things for the long term.”

Supporting new farmers has also become a meaningful goal. "Whenever possible, we try to rent to beginning farmers," Paul said. "And Hertz helps us find those opportunities."

“One thing that I think makes Haverkamp Group really special is they put a lot of emphasis on beginning farmers,” explained Scott. “New farmers, it is so hard for them to pick up ground, and through the Haverkamp Group we have been able to allow beginning farmers to really get a foothold and establish an operation.”

Building for the Future

Though farmland began as a diversification strategy, it has become a cornerstone of Haverkamp Group’s long-term vision. Even as they continue to develop multifamily housing, Brent and Paul see farmland as a way to create balance—and build something that lasts.

“We build wealth through multifamily real estate, but farmland is how we hold wealth,” Brent said. “It’s a great stabilizer for our portfolio—and something we can pass on to the next generation.”

That philosophy has fueled their ongoing partnership with Hertz Farm Management. Over the past decade, the two organizations have worked side by side to build more than an investment portfolio—they’ve built trust.

With shared values, long-term thinking, and mutual respect, the relationship has become a model for how investors and farm managers can collaborate to make smarter decisions and leave a lasting impact on the land.

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