The American Landowner

On this episode, Robert Dudley interviews Dana Spessert. Dana is the chief inspector of the National Hardwood Lumber Association (NHLA). He grew up in the hardwood industry in West Virginia, working in sawmills from a young age. He discusses the unique challenges of hardwood forestry compared to softwoods, including the longer growth cycles, diverse species, and need for selective harvesting. Hardwoods have a more complex and specialized market, with domestic and international demand factors. Spessert highlights the NHLA's role in setting grading standards, training inspectors, and advocating for the industry. He emphasizes the value of the NHLA's lumber grading school in Memphis, which provides practical, hands-on training that is highly applicable to working in the hardwood industry. Spessert advises landowners to carefully manage their hardwood stands, seek professional forestry advice, and understand the diverse markets and end-uses for different hardwood species to maximize the value of their timber.

This episode discusses how to properly value and price land when selling. Guest Ben Maddox of Acres.com explains the importance of doing thorough market research, using local experts, and avoiding emotional pricing. He cautions against overpricing, which can turn off potential buyers. Maddox also highlights how Acres.com uses data and technology to help land professionals and owners research properties and determine accurate valuations. The discussion covers common mistakes in land valuation, the role of AI and automation, and how Acres.com differentiates itself by combining public data with proprietary information. Maddox advises prospective land buyers to assemble a team of experts like real estate agents, lenders, and property managers to guide them through the process. He emphasizes that Acres.com offers pricing plans for both casual users and land professionals to access their suite of data and tools.

On this episode, we discuss the rise of agricultural drones in the US economy with guests Matt Castro and Travis Biggs from Terraplex. Terraplex started as Iowa Aerial Applicators and has evolved to provide drone sales, service, training, and compliance support for farmers. Agricultural drones have become much more capable in recent years, allowing for more efficient and precise spraying of crops. Drones offer benefits like accessing hard-to-reach areas, reducing drift, and enabling real-time crop monitoring and analysis. They emphasize the importance of compliance, maintenance, and customer support to keep farmers' drones operational. The guests discuss the adoption curve for older farmers and strategies to ease them into using drone technology. Overall, agricultural drones are seen as a transformative technology that can significantly improve efficiency and precision for farmers.

This episode discusses the potential benefits and considerations for landowners when leasing their land for solar farm development. Guest Craig Kaiser of Landgate.com provides his expertise, having backgrounds in geology, natural resources, and energy. Landgate aims to empower landowners by providing data and insights on the energy and resource potential of their properties, including for solar, wind, battery storage, and more.

Craig explains the solar leasing process, noting the importance of being proactive and not waiting for offers. He highlights the differences between utility-scale solar and community solar projects that can work for smaller landowners. The impact on the land varies, with solar farms having a minor footprint compared to battery storage facilities.

This episode discusses the benefits of a 721 exchange for farmland owners. Ethan Branscum of the Sower Legacy Farmland Fund explains how a 721 exchange allows landowners to defer capital gains taxes by exchanging their farmland for units in a partnership. This provides more flexibility in managing the asset, especially for estate planning and succession purposes. The podcast covers the differences between a 721 exchange and a 1031 exchange or Delaware Statutory Trust (DST), as well as the process and potential downsides of doing a 721 exchange. Branscum also discusses trends in the agriculture sector and provides advice for farmland owners considering a 721 exchange.

On this episode of The American Landowner Robert Dudley talks with Vince Barfield of Barfield Auctions, an experienced auctioneer. Robert and Mr. Barfield discuss the benefits of the auction method for selling land and real estate. Mr. Barfield shares his background in the auction business, starting from his childhood experiences with his grandfather. He explains how the auction process works, including setting terms, negotiating price, and closing deals quickly. Mr. Barfield highlights the advantages of real estate auctions over traditional listings, such as clarity, fairness, and the ability to maximize value for the seller. He also discusses strategies for handling absentee bidders and the benefits of in-person auctions over online auctions. Robert and Mr. Barfield discuss the current trends in the real estate market, particularly the increased interest in agricultural properties and smaller tracts of land for self-sufficiency and connection with nature.

On this episode of The American Landowner Robert interviews Tom Skaggs of Outdoor Underwriters on the intricacies and options of land insurance as well as the risks and liabilities of not being properly covered. Outdoor Underwriters offers customized liability insurance for landowners, including hunting lease and timberland liability coverage. Liability insurance is crucial to protect landowners from negligent acts that cause injury or property damage to others on their land. Proper risk management strategies like marking hazards, maintaining tree stands, and reporting trespassers are important to prevent liability claims. Landowners should consult with an attorney to understand their legal exposure and insurance options. Smaller landowners can save on premiums by going through state association programs offered by Outdoor Underwriters. The main advice is for landowners to obtain a standard $1-$2 million liability policy to protect their assets.

Today's episode of the American Landowner podcast featured an interview with Zack Parisa, founder and CEO of NCX.com. NCX offers a platform for landowners to explore alternative revenue streams for their land while also protecting nature. Parisa discusses how landowners can be compensated through programs for carbon sequestration, wildlife habitat protection, regenerative agriculture practices, wildfire prevention projects, and leasing land for recreation like hunting. He notes there are currently around 100 programs offered through NCX that landowners can stack for additional income. Parisa emphasizes it is free for landowners to create an account on NCX.com to explore which programs they qualify for and how different opportunities could work together for their property goals and management objectives.

Today's episode features Dr. Brooks Mendell with Forisk Consulting discussing lessons that can be learned from institutional landowners. Dr. Mendell explains the different types of institutional owners like REITs, TIMOs, and pension funds. He discusses how they invest large amounts of acreage and focus on long-term wealth preservation through diversification and steady cash flows. Dr. Mendell also covered emerging markets like forest carbon, mass timber, and challenges in the timber industry like mill closures. He advises smaller landowners to focus on active management through planning and working with forestry consultants. Dr. Mendell remains optimistic about the future of timber prices as demand increases from housing and commercial construction.

This episode of The American Landowner podcast features Dr. Paul Jeffreys from ArborGen Seedlings. Dr. Jeffreys discusses the importance of selecting the proper pine tree seedlings for reforestation projects. He talks about factors like climate, soil type, and intended use. Dr. Jeffreys also explains how improved genetics have led to faster growth while maintaining wood quality. Landowners learn about best practices like proper site preparation and planting density to maximize returns. Dr. Jeffreys is passionate about assisting landowners and being involved throughout the life of their stands. He encourages working with a consulting forester and seeing reforestation as an investment for future generations.