I have a huge line of Thorny-Olive (http://www.duke.edu/~cwcook/trees/elpu.html) running along my property line. I get multiple babies growing around my house, a couple are now have a 1.5" trunk and are around 3' tall and wide. My kids learned about Bonsai trees, and want to make one. I know a little about them from my grandma.

Is it too late in the season for me to dig up one of these and pot it?

If I do should I do an extensive root trimming to match reducing the canopy to resemble something of a bonsai? Should I just dig it up, as large a root ball that will fit into the pot, and then trim as desired?

I guess I only care about not killing it. Should I paint all the spots where we cut off limbs with liquid rubber?

Many Thanks!