So, as usual as I do, I decided to call my Resort/Casino connection at the resort casino that I think the IREA was referring too.
Turns out the connection denied it was for sale; and when I told him the price the IREA was saying their property was for sale at, he laughed!
He said the price was, "very, very wrong," even if it was for sale.
He reminded me that "IF the Fontainebleau Las Vegas sold for $25 Million an acre, their price would be equal or even higher!" (Plus they have more land that remains develop-able around it.)
So, IMO, any potential Buyer would be looking in the PLUS $1.5 Billion range. I think that's cheap given the rebounded state of the Las Vegas economy.
In my experience, most high end buyers are actually bottom-feeders who want to acquire a property at the lowest price possible.
So, even though this IREA implies on his web site that he is the Listing Agent, my connection assured me there is NO LISTING!
Which is good news for you -- as a potential buyer for any casino, resort or hotel, multi-family investment property.
The reason for this is simple: I have an inside tract to (most) of the property owners here in Las Vegas.
With that knowledge, this inside tract enables you to get your interest in acquiring any Las Vegas property directly to the decision-maker.
And, if you need a little more time to get your money together, I know of several properties where the owner could Carry-Back loans for a short period of time.
So, IF you have the pre-requisite amount of money or financial capacity, and you are interested in a Las Vegas property -- on or off the "Strip," email me your company's corporate authority's information, and I will get to work -- as the saying goes.
If a large resort property is on your radar, my standard Non Circumvent and Commission Agreement is located under the Las Vegas Casino Information Button on the right side of this page. Please click, print and have your company's authorized signatory sign; then email it back to me.
Once received signed by your company's authorized signatory, I will forward the property details!
And, as of today, there are Three Resort Properties in and around Las Vegas that are available For Sale! These will run you 'As Is' in the $20 Million, $250 Million and much, much more range!
Also, IF you are more interested in a smaller investment properties -- such as a Net Leased Investment, there are several that can be acquired together for a +/-7% Cap Rate; OR, +/- $2 to $5 Million. These are currently generating +/-$400,000 or more in annual income. (Not bad for passive income!)
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!