Legal Aspects of Flipping

I am new to this forum and it has some great information. I am getting ready to launch my billboard business and I am going to start out flipping a few leases to gain some capitol. I have done my due dilliegence and have my contact letter written, I have the lease agreement ready, I have found a few locations where a new billboard could be built. So I am ready to get started but I can’t figure out the legal aspect of it as far as licensing and permits. I have been given the go around from everyone I have contacted on what license I need and they just keep saying I need to talk to another person. I want to start out in Georgia, does anyone know what business license I need? Is it just a state license? Also how can I find out which permits I need to pull? I know the county and state usually require permits around here but also I saw on the GDOT website where they have a permit application. Does any have any input on either of this issues?

I don’t know the laws of Georgia, but in general, you will need a state outdoor advertising license, and then either a city, state, or both, permit for the sign. I would start out talking to the Georgia Department of Transportation on what is required on the state level, and then talk to the county and city in question to see their requirements. When you talk about “business license” it makes me think of the requirement in some cities that the sign erector be licensed, but that’s not you, that’s the guy that builds the signs.

Thanks Frank. What does a closing on a lease and permit look like? Is it just you and the billboard company or do I need to get anyone else involved? How do you get paid?

Selling a lease and permit is a pretty simple set of documents, You have a bill of sale, an assingment of ground lease, an assignment of ad lease (if any), and an assignment of permit. There are normally few, if any, warranties. There is no title company or any other third party required.

What type of payment will they use? Can I say how I want to get paid whether it be wire, check, etc.?

Back on the license topic. So you are saying that I don’t need a business license to flip leases and eventually own/operate billboards? All I need is the state outdoor advertising license?

No, you may need a business license in the area you are in – it’s 100% based on your local laws where you want to get the leases. But if they do require a business license, it’s normally a small annual fee and nothing else. I have never had to have a business license to get leases, but it is very common for contractors who build signs to have to get one.

let me know when you have a Billboard lease to sell. I would be willing to take a look at it or could help you turn the lease. I will help any way I can …

Thanks , Jimmy

my website and main email is down right now under repairs but you can send me an email to this email.