-
Billboards are controlled by the Highway Beautification Act from the 1960s. It is a federally regulated industry. Billboards are not normally allowed in residential zoning, but only in commercial. However, there are many cases of houses being built on commercial zoning, so it is possible to have a billboard in what appears to be a residential area.
-
You are much better off leasing land than buying it, and using the money you would have invested in the land to build more billboards. The cheapest type of billboard is the wooden telephone pole style. These cost around $3,000 to $5,000, based on size and height.
-
Billboards are regulated on zoning and spacing between signs. You need to know the laws to know where a billboard can go. As far as markets, the most opportunity right now is in medium-sized and small towns that have untapped demand and available sign locations.