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.
Thanks in advance and see you at the top,
Welcome to the Forum!
When you say “Tri-State” region, which are the three states (besides TN, obviously) that you are describing?
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?