Hey Guy’s,
I hope all is well. Let me begin by saying that I truly appreciate the information that Frank and his team has provided to the world. I am 22 years old and have a extreme desire to succeed. I will be purchasing the home study course on October 6th, 2011. My family and I have been involved in real estate since I was 10 years o age. I just decided I wanted to make a new mark in our legacy. Im enthused by every aspect o the billboard industry, especially in flipping ground leases and permits. I do have a question however: does anyone have/had any experience in Memphis or tri-state market? Anything will be nice.
Mississippi, and arkansas. Secondly, is it always required to “clear all obtructions” when you are lease and permit flipping? That could cost a pretty penny.
What do you mean by “clear all obstructions”? The industry norm is that you have a paragraph in the lease that allows for removal of obstructions on the property owner’s land, but often the obstructions – if any – are on a neighboring property or the state right-of-way. In that case, you are not allowed to touch them, unless you’ve obtained an agreement to do so. Many billboards have a small obstruction at some point in their visibility from the road, but minor obstructions are normally O.K.
I’ve never worked any of those three states, but I drive through them all the time and they seem to have a lot of interstate highway frontage and a fairly healthy outdoor economy.
Thanks so much Mr. Rolfe. The quote in the my last tread was taken from the article, “HOW TO SELL A BILLBOARD GROUNDLEASE TO A COMPETITOR”, in the paragraph beginning with “Make sure to remove any obstructions to the sign in advance”. I may have misunderstood you. So when you say heathly- can that be great, good, or bad for someone interested in flipping lease/permits?