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I seeking a loan to purchase a 32,995-acre forest with 80% forest cover and use its timber to repay part of the loan. This will pay off about $36 million from the mature timber and $40 million from pulpwood. Then I plan to sell off about 10,080 acres of the forest as 240-acre lots to individuals seeking a quiet off the grid life a few miles from Bend and Sisters. This will fetch about $60 million. The property will immediately start paying back the loan from year one. I need an additional $3,000,000 to cover closing costs, bringing the total loan to $98 million.
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May 20, 2023 - 6:44am
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