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Leave logging to experts
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April 25, 2000: 11:27 a.m. ET
How a novice should handle owning timberlands in another country
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NEW YORK (CNNfn) - Dear Jane: My husband recently inherited property in Venezuela with a variety of hardwoods ready for harvest. Neither my husband nor his siblings know anything about the lumber business. Should we sell the property or try to sell the lumber?
Before you can make a sound decision, you need to find out more about the property, the lumber and what's been going on down there. It should be easy to find out if anyone has been selling the lumber in the past. Your husband or someone in the family should probably plan a trip to Venezuela to find out more about the property and the hardwood growing there, first hand.
Once you have all the information, if you decide to sell the lumber and not the land, contact a local logging company to cut down the trees and prepare them for sale. You will need to determine several possible buyers and find out what the lumber is worth on the open market in South America.
Since lumber is heavy and costly to transport, you may want to focus on finding an outlet for it in Venezuela or a nearby country. You definitely need professional help with this venture before you make any serious mistakes.
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ApplegateWay
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