Tuesday, July 28, 2015

Las Vegas Resort Buyers! Beware of the International Casino Brokers!

A client who is trying to finance a hotel purchase here in Las Vegas, called me yesterday to say that he found several resort casino properties available for sale that I had not told him about.

Confused, since I am more than willing to disclose everything I know about a resort casino that is for sale, I asked, "What properties did you find out about that are "For Sale" properties?"

He told me about a web site -- which is based over seas -- that has what I consider "a hidden agenda" about trying to make money off of suckers interested in acquiring a Las Vegas NV Resort Casino Property.  I know and believe this web site is misleading potential buyers.

The site states that they "just listed" several properties and gives an estimated EBITDA that to me "looks" fake.

Now, according to the web site, in order to get these numbers, you must sign a Non Circumvent and Commission Agreement -- which is normal; EXCEPT that the following circumstances apply.

1.) Resort Property owners -- especially those in Las Vegas -- don't list properties with overseas brokers.  Not ever, never.  Local Brokers even have a hard time getting these properties exclusively listed to sell.

2.) They definitely never, ever reveal any financial information to anyone!  So, having an EBITDA to disclose tells me this is extremely false.  And an estimate EBITDA with numbers that are laughable, is funny in itself.

3.) I live and work in Las Vegas.  Most of what he claims that he has listed is honest and truly NOT FOR SALE!  Now, in the years I have lived and worked in Las Vegas, I developed direct access to the owners' decision makers.  And, none of these people will ever, ever say their property is for sale; and absolutely none will ever give me access to their financial information.  It's NOT going to happen!

Besides, some of the Land that this overseas broker claims to have listed is actually NOT LISTED. And, by the description, I know which property these are because, like I said above, I live and work in Las Vegas, NV.  (By the way, the land he claims to have listed, he claims to have approved high rise plans.  The problem with the land's location is: a high rise building can NOT go there. You will have to contact me as to why.)

So, IF you happen to find this ridiculous web site and see a Las Vegas property that interests you "listed" for sale, please give me a call.

I guarantee, I will tell you the truth because I do NOT make any money by lying to potential clients.

Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes

Saturday, July 18, 2015

Las Vegas Resorts, Casinos and Hotels For Sale!!

For those who are Interested and Qualified, there will be several Las Vegas Resort Casino Hotel Properties coming on the market in the next few weeks to a month -- according to the Seller.

So, if you are truly interested (and most importantly Qualified) in pursuing a Las Vegas Resort Casino Hotel Property, please click on the Las Vegas Casino Information Button in the right column (to the lower right of this page).

Your company signatory must sign this Non Circumvent, Confidentiality and Commission Agreement in order to obtain any property information.  (Property details will NOT be offered or released unless you have printed, filled out and signed by your company's signatory.  Then, you must  scan the form back into your computer and emailed it to me for my signature.)

The values of these Resort Hotel Casino Properties will run from +/-$250 Million and up!

And there are smaller 'Casino' less expensive gaming properties available. too!

For example, there is a +/-5,000 SF small local 'casino' restaurant property and that will run you +/-$5 Million.  This is being offered at this higher than normal price because this property still has the "Unrestricted Gaming" designation which is "Grandfathered" from the newer gaming rules and regulations.  However, you will still need to provide qualifying information to move forward with this because of the Nevada Gaming Approval element.

To receive information on any of these properties, just email me for details!

I appreciate you patience in this and hope to be able to bring you other Resort Properties in the next few months.

Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND you can Follow David on Twitter: @DavidAHowes

Wednesday, July 8, 2015

Nevada Hotel Properties Marketed As Casinos Could Be NOT!

Working in commercial real estate usually entitles me to emails which when I "look" at them, I realize that the "Listing Agent/Broker" is trying to sell something that "Smells Fishy."

Recently, my Inbox has received emails about certain hotel properties inside of Nevada claiming that they are "Casino" properties.

Now, because I talk a lot -- mostly to people who own/work/manage casino properties in Las Vegas and the rest of Nevada, I do have a sense of what is or could be For Sale.

So, when I get property information via a National Real Estate web site, where I know for a fact that the owner is willing to sell, BUT he will NOT list it -- even though this particular agent/broker claims it is listed with him.  It isn't.

And, this agent/broker is claiming this property is a casino.  It isn't a casino, either.

Now, the reason why this particular hotel is NOT a casino is that the previous owner and the current owner agreed to a Non-Gaming Deed Restriction on the Property because between the two of them, they own ALL the Gaming properties in this part of Nevada and they decided that restricting this property against gaming would help the other casinos in this area.

Anyway, when I called the current owner, asking about the potential sale of his hotel property, he did tell me to bring him an offer within a certain price range, and he'd consider it base on the offer's merits.

When I told him that another agent/broker claims to have it listed, he assured me that it is NOT listed ("I don't need to list the property because I can sell it myself." was essentially his answer.  He owns a lot of property here and in California.)

So, when you see a Nevada "casino" property being solicited from any national web site or company, why don't you give me a call to find out the truth.

My reason for this is: Wouldn't you prefer dealing with some one who is being honest from the get go; rather than some one who is falsifying their status about a casino property?

Thought so...


Contacting David Howes about any Nevada casino property is easy -- I can be reached by: davidATdavidhowesDOTnet OR call at: 70 25 01 93 88 AND you can Follow David on Twitter: @DavidAHowes