Can you flip a ground lease with only permits and a ground lease, with out a structure built?
Yes, that’s the best way to do it. Often, the structure you were going to build is not the same that the buyer prefers. In addition, you save yourself all the stress and difficulty of the construction process (and its cost). Of all the leases I’ve ever flipped, I can only think of maybe two that I built in advance – and those were because I was originally going to keep them and then changed my mind.
Hey Frank, thank you.
When you apply for permits, do you have to state/request a particular billboard size/structure?
If so, which is best to apply for with intentions of flipping? The biggest?
With the intentions of flipping the lease. Do you approach or position yourself and company differently? Do you form a different presentation and apply for permits differently? I undeerstand you hae to have a “right to assign” in the lease. Is there anything else that should be in the lease that the large companies need?