Would you recommend the 60/40 split or just the flat offer?? Buying on the stump could work both ways ,if it's bad on the landing then the price is worst then the land owner gets hurt ,or if you sell on the stump and it's bad the owners a bit more safe???
Definitely depends if you trust the loggers. If they have a good reputation the percentage deal will probably net more, especially if it’s high end timber.
Thanks for the helpful information! Are you able to utilize this if you sell timber immediately after buying property and having timber tax basis done, or do you have to wait a year?
Great vids!! Came for tax info but got hooked in the hunt. Now that I got that out of my system. We inherited 30 acres in 2020 just dis a harvest. Since we inherited and didn't pay for property how can I calculate the basis, again already cut. Appreciate any insight
I believe that you’d calculate the basis the same regardless if the property was inherited or not. Unfortunately it’s going to be extremely difficult to do unless the company that logged it gave you the full breakdown of what was already there, (number of trees, spices, board feet) if you do have that information you would simply calculate it backwards based off of different species growth rates to the time of inheritance. Then having that priced giving you the price at the time of purchase.
Depending on acreage. You can get very accurate doing 1 acre sample plots throughout the property. I also measure any tree usable for lumber in that acre if it’s at the time of purchase.
Thank you. Be bless😊
Great information!
Would you recommend the 60/40 split or just the flat offer?? Buying on the stump could work both ways ,if it's bad on the landing then the price is worst then the land owner gets hurt ,or if you sell on the stump and it's bad the owners a bit more safe???
Definitely depends if you trust the loggers. If they have a good reputation the percentage deal will probably net more, especially if it’s high end timber.
Thanks for the helpful information! Are you able to utilize this if you sell timber immediately after buying property and having timber tax basis done, or do you have to wait a year?
No this works immediately. Just be sure to have the basis done before you harvest the timber.
@@treestandforestry Great! Thanks!
Great vids!! Came for tax info but got hooked in the hunt. Now that I got that out of my system. We inherited 30 acres in 2020 just dis a harvest. Since we inherited and didn't pay for property how can I calculate the basis, again already cut. Appreciate any insight
I believe that you’d calculate the basis the same regardless if the property was inherited or not.
Unfortunately it’s going to be extremely difficult to do unless the company that logged it gave you the full breakdown of what was already there, (number of trees, spices, board feet) if you do have that information you would simply calculate it backwards based off of different species growth rates to the time of inheritance. Then having that priced giving you the price at the time of purchase.
I recently purchased property in upstate ny. What should you expect to pay for this type of service?
It varies depending on acreage. I do travel out of state to do a tax basis
Do you typically run plots for figuring a basis or a 100% inventory? What would be your minimum diameter?
Depending on acreage. You can get very accurate doing 1 acre sample plots throughout the property. I also measure any tree usable for lumber in that acre if it’s at the time of purchase.