All Forum Posts by: Daniel Lioz

I am monitoring to see if anything comes across, but with mortgages being around 6% and some CD's are now even at 9%, there seems to be more and more for sale of SS then it was people looking for them actively and all for sale are listing CAP rates of 5 to 7% (at lease that come into my mailbox recently) which seemed nice last year, but now not so much.

Am I imagining or are there much more self-storage for sale advertisements then may be 6 months ago? I am seeing more and more in my e-mail box, but for some reason the CAP rates of 5 or 7% seems pretty low with mortgage and CD rates catching up lately. It seems that these places are counting on RE appreciation plus revenue increases that sometimes come from inflation?

 Any recommendations on a California lawyer for a quick document review?  Thank you!

 Thanks, I just posted in another discussion asking for lawyer referral in Cali! SO if you know any one, please let me know!  Thanks again!

I am looking for a recommendation for a California lawyer, to review billboard contract and lien document for small plot of land and to provide advice on best course of action or legal interpretation.  This should be about an hour or two of work....I am assuming.

TIA!

 No I am not. I just reviewed the documents the selling agent sent me and those were the questions I had before making an offer to see if there is even something I can do with the property besides just holding it for no reason.

 Thank you for the recommendation! I don't think the owner is willing to do that since they inherited the property, plus I think if they do that, the price that they are willing to sell for will be much higher.  If I purchase this property, do you think it will be expensive to the actions you suggest?  Thank you again!

 The agreement states that it can be terminated or changed when both parties agree...I can't imagine the billboard company will agree to change such a sweet deal of where they pay just $150 in taxes a year plus insurance.

Hello BP community,

I have a question about re-negotiating a billboard lease after the property sale. I am currently looking at a nice property that has a very strange (to me) contract for billboard lease.  The lease has an easement to the property (to the whole property), has a lien on the property, has a lease that carries over with the new owners and has not expiration date. All the leasing company does is pay the property taxes and insurance, with no compensation to the owner directly.  There is no survey with the leasing/lien agreement so the easement is described as to the whole property, and thus since the billboard is closer to the frontage of the road, it will limit the entrance development from the freeway.  The only way to break the lease is with BOTH parties agreeing 30 days in advance.  The original lease was signed for $10 about 15 years ago.  

This just seems like a crazy type of lease and if anyone had seen anything similar to this in the past?? The property looks very promising for commercial use as well as a better billboard, but the lease gives me great hesitation in my purchase offer.

TIA!