Buying existing board

outdoor billboard investment forum
1

Frank,

I am looking into a monopole for sale. Owner wants to sell it as scrap. I offered to buy the structure, keep it where it is and pay him monthly.

The scenario sounds little weird. So I am trying to come up with a list of things I need to check to make sure there is nothing tricky going on.

Here is my list so far:

  • State & city permits OK?
  • what it can rent out for?
  • lights work?
  • overhangs neighbor?
  • there is no lease - guy is the owner of the property and the structure

What else should be inspected?

Thanks,
Mark

2

That’s a good list.

Add to it:

  1. that there is no lien on the structure (otherwise, he doesn’t really own it)
  2. that it was engineered (should be on the permit)
3

great! thanks!