Trading Tenants for Trees. Do the numbers work?

[Jieh Larson]

Hi BP community,

Do any of yall have experience doing long term buy and hold on timber properties? I'm considering getting into some of the East Texas pines when I sell one of my rentals to help diversify the portfolio. 

If someone's willing to share some of the numbers it'd be much appreciated. The cash flow in and out on these properties is a bit of a mystery to me so it's hard to determine if or how much I should leverage and if my other rentals would have to float all or some of the expenses until I get a big payday with a harvest. If the long term returns work out comparable to rentals then I might just have to get a couple hundred acres, I'm a patient man.  

Thanks!

Jieh