All Forum Posts by: David Torbert

That would have been a great response!

My former boss used to say the lottery is a tax on people who are bad at math. On the one in 350MM plus chance you win, I can help you with your first purchase - 900 acres in central Ga with 100 ac open, 2 ponds and a 2000sf 3/2 log cabin you can live in while you're building your dream home. If I don't hear back from you I'll assume the odds didn't go your way :-)

I found this thread due to Georgia being one of my keywords and have been reading through it for the last couple of days as time allowed. It is a great thread, with tons of good info. I appreciate how you took the time to answer each question. Congratulations on your current success and I wish you much more in the future!

JD Martin Sorry it didn't work out the way you hoped, but at least it sounds like the new owner is willing to sell you a couple of acres to give you a buffer around your property. Hopefully he'll do it right whenever he decides to develop and you'll get good appreciation on your property.

I just noticed this thread. Were you able to identify a property?

I can honestly say I have no idea, but with that many heirs involved it seems like there are an awful lot lot of wrenches that could get thrown into the gears. Years ago in my early career I had to back out on a timber deal on a similar situation, but with considerably less heirs involved (6-8 grandchildren as I recall), as we couldn't get clear title. You might seek out an attorney that specializes in wills/probate issues and have them represent you. Good luck with it and keep us posted!

You should probably talk to a CPA or attorney (maybe both) to see what advice they give on how to structure your LLC. The LLC will give some protection, but a healthy amount of insurance would also be an option, especially for your partner.

As for forming the llc, that is easy enough to do in Georgia - it is $25 for the name registration, $100 for the filing and then $50/yr for renewal.

https://georgia.gov/popular-topic/corporations-llc

@Ned Carey that is a great explanation of the foreclosure auction process. 

I would add that if possible you should talk to the bank/mortgage holder and let them know your interest in the property before the sale.  If nothing else, they should remember your interest and you might get a chance to buy it from them after the foreclosure.  Banks want to loan money, not own real estate!

The highest values I've seen here in the southeast on southern yellow pine were back in the late 90s/early 00s. I saw a few tracts bring $5000 - $6500/acre , but they were few and far between. I saw a few high grade hardwood stands bring closer to $10,000 acre. I have heard of maple logs in the NE bringing $10/board foot. They were selling the veneer for Birdseye paneling to Lexus and Infinity if I remember correctly. Some of those logs were bringing up to $10,000 apiece. On a different note, how do you link a post to an individual? I'm new to BP and haven't been able to figure out how to do that yet.

That is true. I get asked all the time what "these trees" are worth and I have to tell them that unless the trees in question are very valuable (large diameter, great form, high grade, etc.), they are worth far more from an aesthetic standpoint. Usually when someone asks that "what are these worth?" question, they are trying to get rid of several large yard trees without having to pay a tree surgeon for the removal :-)