Meanwhile at Finca Leola, things are moving along nicely. I hope some other investors on this board invested with them as well.
We're marking the sections of the farms that need the first thinnings! We will obtain permission to cut in those sections during the next 12 months. Some of your trees may be included in those that will be cut at some point during the coming year. We have several uses for small trees, but some of them will be too small for any lumber use. If we cut any of your trees that have useful lumber and you have indicated that you would like to sell them to Finca Leola, we will send an offer to buy them and demonstrate that it is for fair market value. If you do not want to sell your trees to us, please advise us as to what you would like done with them.
If you want to sell the trees to us, please tell us whether you would like us to pay you in cash or if you would like to reinvest it in more trees. Be advised that when we send money out of Costa Rica, we must withhold 30% tax and remit it to the Costa Rican tax dept on December 15 of each year. Please check with your tax adviser, but you are supposed to be able to claim a credit for this tax on your US tax return up to the amount of US taxes you owe.
We need to know quickly, because we are almost ready to start cutting some of the trees, so please cut and paste one of the following responses in a new e-mail message:
Please send me an offer for any of my trees that you may cut that yield useful wood. I prefer to sell them to Finca Leola. I would like to receive the proceeds in (select one) trees/cash.
Please send me a report of any of my trees that you may cut that yield useful wood. I want you to send the wood to (select one) me/a third party and will provide shipping details when I receive the report.
Best regards,
Fred and Amy
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