Cell Tower note contract - Posted by Kurt

Posted by Jon Richards on May 30, 2003 at 20:17:33:

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Cell Tower note contract - Posted by Kurt

Posted by Kurt on May 30, 2003 at 17:55:52:

I have received a call from someone in pre-foreclosure. The property has a 1977 mobile on it and has no way to cure the past due. BUT, he also owns the adjacent 4 acre parcel that has a cell tower built on it and he has leases with 3 cell service providers that each pay him $500/month. Each of these contracts allow a 30 day opt out for the providers, although opting out seems unlikely due to the expense of putting up the tower. He has a great location for cell towers and apparently, they have discussed adding more in the future. He would consider selling one of these notes to cure his debt - would this note have any appeal?