How I Got Over $600,000 for Selling my Cell Tower Leases

Some hotels have cell phone towers on their hotels. Consider yourself lucky because YOU JUST HIT THE JACKPOT!

AT&T, Sprint, T-Mobile, Verizon, Metro PCS, and whatever other cell phone provider basically pays out thousands of dollars per month to property owners for the permission to put cell phone towers on their roofs. Most of the time, the property owner doesn’t need to pay for electricity.

That’s a pretty sweet deal. You get thousands per month for doing pretty much nothing.

There are some companies that will offer you a lump sum of cash in exchange for the monthly payment from these cell towers (40-year term). So for example, for a $2,000 / month cell tower lease, you can get a lump sum of about $192,000 (more or less)!

The break even for this is about 8 years, but seriously, how many hotel owners actually keep their hotels for 8 years? And when a hotel brings in millions per year in revenue, a couple thousand is a drop in the bucket during selling time. A person who buys a hotel buys a hotel for its ROOM revenue and is not so concerned about a cell phone tower lease.

I got competitive bids from multiple companies, and we ended up going with UnisonSite.com We got the highest bid from them and they processed the cash relatively quick. Their lawyers also helped us get rid of an erroneous Mechanic’s Lien on our Title. Definite bonus points for that added perk!

Have you had experiences (good or bad) with different lease buyout firms? Have a better idea to best utilize your cell towers? Let me know below.

 

How I Became a Paperless Office Using a Document Scanner

I currently use the Fujitsu ScanSnap S1500 as a document management tool. I basically scan any document into this machine, and then it turns it into a searchable PDF document. This means that I can later do a word search and the results will bring up any document with the words I look for.

The time saved on not having to file and pull up documents is well worth the $400 investment. Just make sure you auto back up the folder housing all your saved documents! I’ve been using a document scanner since I first started in 2007.

Imagine: NO MORE FILE CABINETS!!!

Support Software

1) Adobe Acrobat – It comes with the scanner so you can create your own PDFs and separate the PDFs you scan in into individual pages for emailing purposes.

2) SyncBack – This is a freeware program that you can use to schedule automatic backups of your scanned documents. (Advanced Tip: I bought the pro version and setup a freeware FTP server off-site using FileZilla.)


How I Saved $83,112.09 on Property Taxes and You Can Too (Orange County, CA)

If you look at your annual property tax from Orange County (go http://tax.ocgov.com/tcweb/search_page.asp if you don’t have it on you), you’ll see a line item for “OCSD SEWER USER FEE” This fee is to maintain the sewer system in Orange County. One of the things with this fee is that it only an ESTIMATE based off of some formula I don’t understand. I think it may have to do something with the square footage.

This means, that if you send the OCSD (Orange County Sanitation District) the actual amount of water you use, they can calculate what the ACTUAL fee is and can adjust your bill. If it’s lower, they’ll give you a refund for the past 3 years of taxes, and if the actual bill is higher, they WILL NOT charge you more :]

Win-Win I say. And all it takes is for one simple form to be filled out here:

http://www.ocsd.com/civica/filebank/blobdload.asp?BlobID=8346

Now there are some “agents” out there who will do the paperwork for you and take 40% of the savings from you. Or you can just do it yourself and keep all the savings for yourself.

Or, if you really want, you can contact me and I can do it for you and I’ll only charge 25% of the savings I get you. :]

 

CASE STUDIES:

Howard Johnson Hotel – Saved $83,112.09

Red Roof Inn, Buena Park – We were undercharged, but we didn’t have to pay extra