Billboard On Res.Property?
I am looking at a property that is on the edge of a comercial zone. The property has a good sized Billboard that is about 7' from the side of the house. It has previously been rented for $500/mo, but is currently full of grafetti. How should this affect the value of the house & property?
I think it could be a cool source of extra income. If you buy the property, just paint the whole base of the billboard pole slate gray and put a sign on it that says it's available...
Thats what I thought. the ploes are already gray, and in good shape. I didn't know if there was something I was not concedering for a con to having it on the property, and so close to the house.
I think you'd do fine renting but maybe later a little harder to sell?? that 's my experience of a main road behind the property , it took awhile for it to sell.....
thats a great score if your in cheap enough. i would actually use the billboard to advertise myself if its in a good enough location. just think of it. either extra income from renting it out, or free advertising for your own company.
I would check with the city. There may be ordinances prohibiting using the sign, or there may be annual fees to 'operate' the sign.
Please post back; I am anxious to hear if you purchase this property and if you are able to rent the sign space.
It is in the block between the major street, and the freeway, on a pretty well traveled street. The house does need some work but we know friends of the owner and he just wants to get rid of it.
I was thinking about living in it while I fix it up, and then rent it out or sell it.
Houses in the surrounding neighborhoods have been selling in the 180s, and our friends told us we could probable get it for ~145. It does need flooring in the bedrooms, some walls patched, and new windows.
The windows are what I'm most concerned about. the exterior is cinderblock, and the seal around the casings is old and craked, and the panes are not in the best condition.
I also have not been inside yet, it is currently being rented, and the renters changed the locks, so we couldn't get in when we went to look at it last weekend.
Also the 1-car garage was converted to a 4th bedroom, and an enclosed carport was built in the driveway. How sould this affect the price?