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I need some advice from people who have experience in the billboard business.
I'm looking into getting into this business, a little background on myself. I have been investing in real estate for about 9 years now, all my properties have all been single family residence in several states. I have also managed my owe property as well, so i know the headaches involved with being a property manager. I have since sold most of properties and looking into investing in billboards.
A few questions I have are:
1) Where are all the places you can buy billboards? I know of only a few places
2) With real estate, you can get COMPS, how do you get COMPS on billboards? is there a single database like the MLS for billboards?
3) With real estate, you can do a search on the address to get the parcel information as well as the owner, can you do that will billboards?
4) How the does lease on land work with billboards? If I sign a lease for 2 years, and the land owner wants to either rise his rates through the roof or sells it, what then? Do i just move my billboard? How would I even do that?
5) Advising, how much "on avg" would you say you could make on a billboard? I will be calling some companies locally and get an idea on how much they charge for different billboard sizes and locations throughout the valley, I live in Las Vegas, NV.
6) As far as maintenance goes, what things do i need to be concern with a billboard? Lights going out? Vandalism? Wind? Any legal issues I should watch for?
7) Any recommendations on the type of billboards to purchase? 1 side, 2 side, with or without lights, Digital billboards, etc., (Not looking for mobile billboards)
8) What is a typical lease term for billboards?
9) Is there tax on a billboard? Real estate tax, transfer ownership of the billboard tax? I have no clue, so that's why I'm asking.
If there is anything else, i would really appreciate any feedback you give me.
You are very ambitious. You'll be going up against some of the biggest, and most brutal (and unethical) companies in the US. IIRC Clear Channel Communications, 3M and (drawing a blank here) are the biggest. You might want to do a search about a 10 year long lawsuit in Houston regarding the lease terms on the most desireable site in the city/county.
My recommendation would be to GET A JOB IN THE INDUSTRY, above the level of slapping on the posters. That is the best way to learn about any business. Based on your very basic questions you're a year or more away from getting into it.
If you're making money in SFHs (most "investors" don't) then stick with it or move up to multi-family units. Why diversify as far as billboards?
The previous answer is correct. Maybe even a tad incomplete. By that I mean if Joe Schmo feels like putting up a billboard on their own land the goons from the Mafia will be knocking at your door. Leave that horrible business to Clear Channel and forget it.
Besides....many cities and towns are banning these ugly monstrosities anyway. Soon you will read about bill boards in history books.
The following two answers were obviously posted by unambitious, possibly older individuals who have no idea of the power of discipline. You want to do billboards. You can do billboards if you want to no problem. I am 22 years old. Eight months ago I decided to pursue outdoor advertising. The returns looked good so I begin researching billboards, an industry that I knew absolutely NOTHING about. Currently I have purchased a billboard & am on the brink of obtaining my permit for construction. This is a tough industry to start in...all that tells you is that if you put your mind to it & get in it, it will be sweet, good returns. Clear Channel, CBS, etc. are corporate monsters that you simply skirt around. Go develop in high traffic count areas on the city's edge where the corporate guys havnt takin over. Usually the harder something is to get into, the more exclusive & high the returns are. That holds true with billboards. If I can do it with an 8th grade education, no high school or college, then you can do it too. I'll it takes is determination & discipline. If you want to talk, you can answer back on this post.
If I can do it with an 8th grade education, no high school or college, then you can do it too.
You haven't done it yet - but I wish you well getting your first billboard up. In towns I've lived in getting a city permit is a big hurdle. Many don't allow additional 'blight'.
You haven't done it yet - but I wish you well getting your first billboard up. In towns I've lived in getting a city permit is a big hurdle. Many don't allow additional 'blight'.
City is tough. Im working in unincorporated county.
The following two answers were obviously posted by unambitious, possibly older individuals who have no idea of the power of discipline. You want to do billboards. You can do billboards if you want to no problem. I am 22 years old. Eight months ago I decided to pursue outdoor advertising. The returns looked good so I begin researching billboards, an industry that I knew absolutely NOTHING about. Currently I have purchased a billboard & am on the brink of obtaining my permit for construction. This is a tough industry to start in...all that tells you is that if you put your mind to it & get in it, it will be sweet, good returns. Clear Channel, CBS, etc. are corporate monsters that you simply skirt around. Go develop in high traffic count areas on the city's edge where the corporate guys havnt takin over. Usually the harder something is to get into, the more exclusive & high the returns are. That holds true with billboards. If I can do it with an 8th grade education, no high school or college, then you can do it too. I'll it takes is determination & discipline. If you want to talk, you can answer back on this post.
So I have no power of discipline (whatever the hell that means). Man how I sure wish I was 22 again, then I would know everything.
How do you purchase a billboard that don't exist and now you are trying to obtain permits to make it exist. I have a feeling you were had. Some one is laughing alllllllll the way to the bank.
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