All Forum Posts by: William Jenkins

It wouldn't hurt to try, but I'm not real sure how much demand you are going to find in West Co. for something like that. I would check the City zoning code (don't call) and also check your subdivision restrictions. In either case it may be better to ask for forgiveness as opposed to permission unless you see a major red flag. Out of curiosity, why didn't it sell? I am a broker out of Creve Coeur and things are moving if priced right.

Not sure what you do for VZ but have you ever thought of trying to get into the network real estate department?  I develop and broker towers for all of the carriers and it is a very niche form of real estate that I really enjoy.  

Im not really too into wholesaling but that is just me.  I would try to get a solid base in your career, save some money, and then acquire a rental.  You are young so you have that going for you.  Don't let the years pass you by without taking action but on the other hand don't leap into an investment thinking you have to do something right away. 

I personally think there will be better years ahead to acquire properties.  

I would love to talk to you in the tower.   I develop towers throughout the US and I could probably help you with some of your questions/concerns.  

I develop towers for all of the wireless carriers throughout the US.   I also represent property owners who are leasing their property for wireless sites.  Many times I can get my fees covered by the carrier.  Let me know if you would like to talk.  

Paid off properties are wonderful.  I see the infinite leverage model that has been touted by so many, and I think it is flawed on so many levels.  Borrowing is not bad, but the borrow, borrow, borrow strategy is horrible.   I sometimes wonder how many of these posters are going to disappear overnight when the next downturn hits.  

So Bob, walk me through this.... You took $400k out of your property, and figure that your net worth has "stayed the same."  I guess that depends on what you use the $400k for.  Are you spending it on your lifestyle, or are you actually accumulating assets with it?  Regardless, you say it as fact that you will simply do it again after a few years.  Why are you so certain of this?   

Most who use leverage will always preach how smart they are, and tout that they are all about "using other peoples money."  They talk about interest deductions, but fail to realize that it does not cover the cost of interest.  They talk about all of their "equity," when it is simply a BS balance sheet number, based on BS property valuations, and 100% subject to the slightest real estate downturn.  

If you are getting older and retiring, then I would suggest paying them off, and simply living off the cash flow.  You can always pick up another property with financing if the deal presents itself.        

There is never a "wrong time to buy," but there will always be wrong deals to buy.  Good deals can be found in good and bad economies.  

I would not be afraid to buy anything now if the deal presented itself.  Having said that, I don't think valuations in general are at a very good place right now.  I see many people overreaching in more ways than one to try to make things work.  It feels more like a top to me then a bottom.    

Mark,

Congrats on the new cell tower.  I have been in the wireless tower industry over 10 years, and I specialize in monetizing wireless ground leases with a number of investment funds that I work with.  Depending on who the underlying carrier is I can usually get my clients anywhere from 13 to 16 times the annual rent in an easement sale scenario.  I would love to talk to you on it if you are interested.     

Sheri.  

It sounds like you are in a good position in that you have a place for them to lease that will not affect the remainder of your property.  

You have some options but I would not delay.   The people working these deals typically don't resort to high pressure but they will move on if they sense they are working with a difficult or indecisive landlord.   Options are as follows:   

1.   Execute a lease and collect monthly income.   There are many things you need to look out for and add into the agreement.   

2.   Do the above and then monetize the lease for a lump sum payout.   Aside from negotiating items into and executing the lease above you would need to negotiate and execute a ground easement and lease assignment agreement with a buyer.   There are many things you need to look out for in this as well.   

3.   There is a remote possibility that you could cut out the tower company and work with a partner to develop and own the tower.   This is is real money maker but it has to be done very carefully and you have to have someone that knows exactly what they are doing.   There is a small chance of making this happen but thought I would mention it    

I would be happy to work with you in a consulting/brokerage capacity.  I can guarantee that my involvement would more than pay for itself, and I could probably get the tower company to pick up some of the costs.   PM me or call me at my number below if you would like to discuss it further.  

Thanks.   

I have to respectfully disagree with Joel regarding his comment that a cellular lease is not worth very much on the open market.  These leases are actually very valuable.    

My business is almost exclusively focused on developing wireless sites for the major carriers (AT&T, Verizon, Sprint, T-Mobile).  I also own and broker/consult on wireless assets (tower portfolios and ground lease assets) around the country.  

Whether or not you are getting a good offer requires quite a bit of more research.  I have done hundreds of wireless ground leases over the years and there are a lot of variables that go into determining how much you can hold out for.  Couple of quick ones off the bat..... zoning, availability of alternate landlords,  FCC, FAA, neighborhood groups, surrounding property uses, etc.  The list goes on an on.  I have done leases all the way from $350 per month all the way up to $4000.  Just like everything in real estate, it depends on how badly they need it, and what the alternatives are.      

       Questions... Is the company looking to lease your property a carrier or tower company (AT&T, Verizon, Sprint, T-Mobile, American Tower, Crown Castle, or SBA), or is it another party?  Have you negotiated with them yet (terms and lease comments) or is this their initial offer?      

I've been developing cell towers for the major wireless carriers for a number of years and I was just curious to see how many BP members there were with leases on their properties? 

Have a tower on your property?