Churches Meet Major Capital Needs Through Cell Towers and Billboards
When Summit Christian Church in Sparks, Nevada, needed cash to pay down its mortgage, the church found exactly what it was looking for.
“We realized the cell towers on our property could meet our immediate capital obligations,” said Bob DeHuff, director of administration.
Landmark Dividend, a company specializing in cellular lease transactions, proposed that the church trade its monthly cell tower revenue for a lump sum payout. By signing over the lease to Landmark Dividend, the cash funding would pay the church’s debt.
At the time, several companies approached Summit Christian Church with similar offers.
“This isn’t my first rodeo. I’ve been seeing deals like these for years. While others came on strong with their pitches, Landmark wasn’t pushy at all,” said DeHuff. “They were transparent and made sure we felt comfortable with every aspect of the transaction—they were honest from the start. I’d tell anyone to call Landmark before they made their final decision.”
He also appreciated the simplicity of the contract, saying, “Given the state of business today, I expected hundreds of pages of fine print. But Landmark’s paperwork was logical. It wasn’t onerous at all.”
With his endorsement, Summit Christian Church accepted Landmark Dividend’s proposal. Within 30 days, the church received the capital and immediately used it to decrease the principal on its mortgage.
Integrity and Purpose at the Forefront
Landmark Dividend’s management team has the most experience in the industry, closing over 6,000 transactions since 2002.
“There’s no secret to our rapid success. We have an unwavering commitment to putting our clients’ interests first every time—no exceptions. That’s one reason we enjoy working with churches; we know the proceeds will allow them to grow, upgrade facilities, and benefit the communities they serve,” said Jeff Knyal, Landmark Dividend’s CEO.
He describes Landmark Dividend as highly qualified to serve churches. For example, real estate transactions often take months to close. Meanwhile, Landmark Dividend on average completes deals and sends cash payouts within 30 days from start to finish.
In addition, Tim Brazy, the company’s president, was the former head of the Church Mortgage Acceptance Co. (CMAC), which was one of the nation’s largest lenders to churches.
“My dad taught me to never joke about two things: money and death. I know that every day churches face significant challenges, such as paying off high interest rate debt, meeting infrastructure requirements, and expanding,” Knyal said.
Landmark Dividend’s three-step approach is central to how it serves churches: establish rapport, gain credibility, and earn trust. While other companies rely entirely on conducting transactions over the phone, Landmark Dividend prefers one-on-one meetings whenever possible.
“Landmark took the time to meet in person and address my questions and concerns; their hands-on approach definitely set them apart,” said DeHuff.
Part of Landmark Dividend’s emphasis on earning trust is a no-pressure approach: “We’ll take whatever time necessary to determine how we can best help churches meet their goals and needs—whether or not they work with us,” Knyal said.
A Texas Church Adds New Buildings
“I could tell that Landmark Dividend wasn’t after their own interests—they wanted what was best for our church. Their goal was to make us happy. I’d definitely recommend them to others,” Sewell said.
He described how Landmark Dividend presented a fair offer that was impeccably organized, which ensured a smooth process. From arriving to appointments early to delivering funds as promised, the company exceeded his expectations.
“We have millions of dollars of buildings and properties, which means I’ve dealt with countless vendors and contractors over my career. Landmark Dividend was as professional as they come,” said Sewell.
With the capital funding, the church purchased buildings that dramatically improved the charter academy’s educational environment.
Meet Your Capital Commitments Faster than Otherwise Possible
By working with Landmark Dividend, they’ve experienced the best of two worlds: 1) They’ve maintained ownership and the right to sell their property at any time, and 2) they’ve eliminated the risk that their cellular lease may be cancelled or their rent decreased.
If you’d like to learn how Landmark Dividend can help your church accomplish its biggest goals, call them today at 1-800-843-2024 or visit them online at www.landmarkdividend.com/cell to receive a free evaluation.