Renting billboards?

Has anyone here every put up a billboard and rented it out for profit?? Was just looking at some dirt cheap land right next to the interstate and got the wheels spinnin, couldn’t find much on google but I remember a friend telling me that those things can go for thousands a month. Sure sounds passive to me!

Be sure to check out your local regs re: billboards and local beautification laws. Great passive income from them and cell phone towers. Out in my part the new thing is wind generators. Wish I had a big hill.

I was flying recently when I got to talking with the fella next to me. He does exactly this…he looks for parcels of land where he can put up billboards, then strikes an agreement with the owner to pay enough rent to make them happy to give up the small spot needed for a billboard. Of course, he goes through all of the legal channels, etc.

I can’t recall the exact numbers, but I remember figuring that he was making at least a million dollars a year, maybe several million.

In Atlanta, a billboard near the interstate can cost $6,000 per month, so it’s not hard to see how the numbers can really work in this business.

The only issue that I can see with having only one or two billboards, at least to start, is getting them sold. You can advertise right there on the billboard, of course, but you won’t get the attention from national advertisers like Clear Channel or CBS or Viacom get.

No doubt, though…outdoor advertising can be a great business.

This is a topic I wish there was a lot more about out there. I have been looking at billboards and wondering how I can get into that business for years. I have never ever found a good resource about them. A few weeks ago I was at this seminar and one of the presenters briefly mentioned that some of his “students” were doing billboards and they were doing very good. He said putting one up cost around $36K (I don’t know if this included the land or just the actual billboard) and that they rented for about $7,000 per month PER FACE! Sounds pretty good to me, but I don’t know any of the details.
Also, at some point a few years ago, someone told me that there was some sort of a “mafia” (mob) thing going on with them and that things could get really ugly really quick. He was probably one of those naysayers we have all heard, but I am just saying what I have heard. And this is as far as my knowledge of billboards extends, so I am very interested to hear what other forum members have to say.

Can we please keep this going? Anyone have any information or resources they can recommend for these investments? I’ve had some ideas on this stuff but can’t locate any material to research the specifics.