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Making money growing trees is not about quickly flipping land and timber. It is primarily about making money through biological tree growth. This course will discuss buying land and planting trees, planting trees on land already owned, buying pre-merchantable trees and growing them to maturity, and buying already merchantable trees and growing them forward. At every stage, we will discuss silvicultural and management options available and the expected profitability of those investments. Thus, the emphasis is on biological growth of stands under different management scenarios and the financial returns from the decisions made at various points in the life of stands.

The purpose of this course is to evaluate timberland as an investment at different points in the life of forest stands. The course will discuss buying at different prices, management options at that point in time, and the expected return on investment given different product stumpage prices. The forester or landowner attending this course should leave with a good feel for the potential profitability from buying and managing stands at different stages of their development and for the trade-offs that exist for many situations.

Foresters who make management decisions for clients who have primarily an investment rate of return objective, though opportunity cost of other objectives such as wildlife and aesthetics will be evaluated and discussed. The instructors will emphasize the interaction of different management decisions including species, timings, and levels of management intensity, and the effects of those interactions on final product yields and values. Landowners who want to obtain information on what is possible on their properties and estimates of reasonable rates of return for different management options. This course should also help landowners interact with professional foresters who are managing their timberland. Realtors who are involved in the valuation of rural land and timber should also attend.

1. Learn how to evaluate the plantation vs. natural stand decision and how to make natural stands develop more like plantations.
2. Learn how to estimate the return on investment from capital spent on "better" seedlings.
3. Learn how to evaluate the trade-off between raking pinestraw and thinning for different species.
4. Learn how to evaluate the many different spacing and thinning options available to pick the one that gives the best rate of return for your markets.
5. Learn how to evaluate the effects of higher land prices on potential rate of return for timberland purchases and which level of stand development presents the best return for lower vs. higher land prices.

Barry Shiver and Bruce Borders have been teaching continuing education short courses across the South since 1989 on a variety of topics related to their instructional and research at the Daniel B. Warnell School of Forestry and Natural Resources of the University of Georgia. Barry recently retired (after 30 years of service) from the University, where as a professor he taught classes in timber management, inventory, silviculture, and mensuration. He was also the director of UGA's Plantation Management Research Cooperative (PMRC) for 10 years. Bruce is a professor at the School and has actively conducted research with the PMRC his entire career. The research objectives of both instructors have included finding solutions for timberland investors. Courses taught by Barry and Bruce are popular! They deliver outstanding technical content in an understandable and enthusiastic manner.

The fee for this course is $445, which includes lunch, refreshment breaks, and instructional materials. There is a $50 discount for fees paid by check or credit card and postmarked by June 25, 2007. Preregistration must be accompanied by check, purchase order, or credit card number to guarantee a place in the course. Limited seating is available.

• 11 Continuing Forestry Education (CFE) hours — Category 1
• 11 Continuing Logger Education (CLE) hours — Environment
• 13 Georgia Real Estate Appraisers Board credits approved — also accepted by the Georgia Real Estate Commission

Full Attendance Is Mandatory to Receive Credit.

If you are not satisfied with this course, we will refund your registration fee. Third Course Free! Attend two forestry courses in 2007 as a paid participant and get the third course (with equal or lower course fee) for free. Contact Nette Penn, at 706-542-6658 or Nette.Penn@georgiacenter.uga.edu, before you register for the third course. Fourth Person Free! Register three people from your organization and the fourth person is free. All registrants must be with the same program (same address and same budget), and the registration fees must be paid in advance by check or credit card.

This optional one-hour course focuses on case studies to illustrate the place of ethics in the practice of forestry. It meets the ethics requirement for registered foresters in Georgia.

Now Available Online! Forestry Ethics Online Course

Now you can complete the one-hour Forestry Ethics Online Course from the comfort of your home or office. Register today for this self-paced, self-study program and earn CFE credit! Go here for more details: www.georgiacenter.uga.edu/is/forestry

Special Needs:
If you require special services, facilities, or dietary considerations, contact your event coordinator, Nette Penn at 706-542-6658 or Nette.Penn@georgiacenter.uga.edu prior to July 9, 2007.

Lodging and Location
Four Points by Sheraton
1325 Miracle Strip Parkway
Ft. Walton Beach, Florida 32548
Phone: 800-874-8104
Web site: http://www.sheraton4pts.com/

Hotel Information
A block of rooms has been reserved at the Four Points by Sheraton in Ft. Walton Beach, Florida, for the nights of July 15-16, 2007. Please contact the hotel directly to make a lodging reservation. Please be sure to mention you are attending the Making Money Growing Southern Pines course in order to receive the discounted group rate.

About the Georgia Center
This course is sponsored by the Georgia Center for Continuing Education Conference Center & Hotel, which is located on the beautiful, historic campus of the University of Georgia in Athens, Georgia. As a unit of UGA's Office of the Vice President for Public Service and Outreach, the Georgia Center brings the University's teaching, research, and service expertise to the people of Georgia and beyond! For more information, visit www.georgiacenter.uga.edu.