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re: I need advice from people who are knowledgeable about managing land
Posted on 6/8/14 at 6:38 pm to lyfenola
Posted on 6/8/14 at 6:38 pm to lyfenola
quote:
i'll take it for $150k
I'll bet you would.
about 100 of the 120 acres of land is heavily wooded. I'll bet the timber alone is worth hundreds of thousands of dollars.
4
Posted on 6/8/14 at 6:42 pm to wallowinit
quote:
wallowinit
if serious and not full of shite holler at that land company on the canal, sunplus... think they help out neighbors in the advice dept. the more you know..
Posted on 6/8/14 at 6:45 pm to wallowinit
You can sell all or some of the timber and defer your capital gains taxes via a 1031 exchange.
You would have to re-invest the sales proceeds in anther investment property, but it only needs to be like-kind and considered an investment property.
If you are interested in this, make sure to talk to your accountant and use a qualified intermediary.
You would have to re-invest the sales proceeds in anther investment property, but it only needs to be like-kind and considered an investment property.
If you are interested in this, make sure to talk to your accountant and use a qualified intermediary.
Posted on 6/8/14 at 6:45 pm to wallowinit
quote:
I'll bet the timber alone is worth hundreds of thousands of dollars.
Not even close. To have someone clear cut it that leaves it in a waste land after, your share after might bring you 15K at the most.
Posted on 6/8/14 at 7:27 pm to wallowinit
quote:
about 100 of the 120 acres of land is heavily wooded. I'll bet the timber alone is worth hundreds of thousands of dollars.
Highly doubtful. While Oak logs are really hot right now you're not going to be bringing that much.
40 acres of Straight Oak might bring 10k depending on weight and split with loggers.
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