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re: Need help with a lump sum
Posted on 7/17/18 at 12:00 pm to KillTheGophers
Posted on 7/17/18 at 12:00 pm to KillTheGophers
quote:
look at some timber real estate...you could get a nice piece of acreage that yields timber with that cash and some loans.
If you know what you're doing and know the right timber people, you can sell good timber and wind up with a paid for piece of land at the end of the deal. But if you don't really know what you're doing, or you turn a bunch of goobers loose on your land, you could end up cheated and have brush piles, scared up trees and equipment tracks all over the place.
I know rental property and some about raw land. But when it comes to valuing trees, I'm not so strong. So I've been using a timber consultant for (pre-purchase) advice for years - he can broker deals too. For anyone who wants to get into that game, I'd suggest going that route. It's well worth the money (and mitigates the risk).
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