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#1

So we went into this deal kind of backwards, that is we did not obtain a permit first and the board has current advertising on it.
We acquired the property through a tax sale knowing there is a 10x22 unlighted board on it, leased, permitted and operating. In a few days we will have the deed.
My question is what next?
Do I call the company operating the board?
Do I send them a letter demanding they remove all advertising until a new contract is signed?
Do I have my attorney contact them?
Thanks, Chris


#2

Hey, contacting an experienced attorney is good option as they can tell if there is any law related to it.
Meanwhile you can also send a letter to the company (as you have mentioned) and explain the matter to them
Thanks


#3

Don’t demand they remove advertising. You may own the land but not the board - especially if it’s a national company managing it. Demanding they remove advertising may have them remove the board in total if they own it. Contacting an attorney is sound advice.

Also you could ask for the current leasing agreement the company had with the landowner. You can then determine if the terms are agreeable to you. A national billboard management company can get the big advertiser names for higher dollars than you can locally - and you could be earning 20% of the rental fees with absolutely no work on your part and only property taxes as an expense is about the sweetest deal ever in real estate. Is the board location in your local area or is it far away? If far away, keeping the current manager may be a good choice. You make less than if you handled the advertising yourself, but if it’s far away, it’s a nice no-work income stream.


#4

We are taking offers for purchase of our property.
It has two boards on it. A 10x22 and a junior board.
It has permits held by Fairway outdoor HOWEVER there are no current lessees in effect and can be negotiated by a new owner! In March we issued them a letter stating the leases will not be renewed.

The address is:
11304 US-221
Woodruff, SC 29388
Tax map #4-32-00-050.01

Make an offer to Christopher@capitalmatters.us