A Business Owner Looks Ahead to Retirement
In the late Fall of 2021, Alex Larejo, a 65-year-old father, grandfather and business owner in the suburbs of Los Angeles takes an assessment of his wealth as he begins retirement and estate planning. Having a clear understanding of his financial state has been on Alex’s mind lately as he has an upcoming conversation with his eldest daughter Emily, who is also his estate executor. He wants to make sure that in retirement and beyond, his family is taken care of.
Earlier in the week, Alex had received a voicemail from an Acquisitions Advisor at Symphony Wireless asking about the cellular tower on his property and if he would be interested in a cellular lease buyout and finding out “how much is my cell tower worth?” Alex owns a local garage that caters to the Speedway in Fontana, California and has always looked at his cell tower favorably as it had two cellular carriers, bringing him $3,200/month. This floated his business during the pandemic; but now with thoughts of retirement, this tower could continue to provide him everything he needs and more.
An Industry Expert for an Industry Issue
After speaking with Andrew from Symphony Wireless, Alex learned that the market had changed dramatically in the cellular tower business. Not only was there money to be earned, but risk as well. Contract negotiations have become more complicated and cellular towers are being decommissioned for several reasons due to technological advancements. Symphony Wireless is now buying towers for greater offers, taking on the risk and building partnerships with cellular providers to keep towers in commission.
Getting The Best Value For The Cell Tower Leases
Andrew explained this to Alex and his daughter over the phone and told him how much his cellular tower is worth; he could get an offer in the range of $650,000, which was much higher than the cellular tower lease buyout offer he received a few years ago. Alex sent Andrew the lease and, 48 hours later, Alex and his daughter had an offer for $757,000 in front of them ready to go.
- Retirement Planning
- Building a Tax Friendly Payout
- Asset Liquidation Options
- Expertise in Market Value
- Trusted Partnership Building Simple Process
He has been approached in the past about selling the lease, but this call is making him wonder about the value of his cellular site:
Is it possible the market has changed?
If any extra profit is available, could this change his plans for retirement and help his family in the future?
Is he getting the best value for his cellular tower?
Cell Tower Sale Benefits All Parties Involved
The escalators on the leases drove a higher value and the tax advantages of a 1031 Exchange allow Alex to re-invest in his family’s future, an offer they could not refuse. By the end of the month, Alex announced his retirement, his daughter began a fund for her children, and they began their plans for the future.
What can you do to learn where you stack up and if you are missing out on opportunities to protect or better grow your rent?
Partner with an expert. We at Symphony have been in the wireless industry for decades and are leading investors in cellular site lease acquisitions across the country. It is our business to know the value and risk profiles of cellular sites. We will assess your site for current risk and future potential value and come up with an investment plan that best suits your interests and needs. Our assessment will provide you with a reliable view as to how your site fits in with the expected future of the cellular site grid. This is the opportunity you have been looking for to capitalize your cellular site rent stream.