Showing posts with label Investments. Show all posts
Showing posts with label Investments. Show all posts

Friday, June 2, 2017

Whoever Coined the Phrase: 'Patience is a Virtue' never worked Las Vegas Commercial Real Estate!

Sure, waiting for something good to happen will leave you on the edge of your seat.
And, the opposite is true, too!

But, since I have been patient; and, I know I need to stay patient; something 'good' should (I mean) will happen!

But, I am tired of waiting.
I've run out of patience.
I was never a 'good' student when I 'had to wait.'

As a child growing up, I was the one student who wasn't diagnosed with one of those fidgety, anxious syndromes that caused teachers to look down on me as 'an unruly student.'

(Those diagnoses came along AFTER my time in elementary school.)



Anyway, back to the point...

There are properties available in Las Vegas right now that could be acquired for a good price.  The problem with this is: I continue to run into buyers who are still looking for a 'steal.'  (Unfortunately, those days have passed.)

But, for those who are interested, there are Las Vegas Casino Properties available for sale.  But, you must download the 'Non Circumvent and Commission Agreement' attached to the lower right under Las Vegas Casino Information Button, fill out, sign, scan, and email it back to me (This is required in order to receive any details on those properties.)

Now, the Owner(s) require all potential buyers to provide them with their financial capability! For example: Proof of Funds!
AND, yes, they are looking for companies that are able to qualify for a Nevada Gaming License. Unfortunately, this is ALL prior to the release of any property information. So, get assembling your financial statements!

Also, for those who are interested, there are Las Vegas Commercial Properties available for sale.

Whether you are a beginner or small investor; or if you are capable of closing large Commercial Real Estate transactions, there is a property available for you.  Just send me an email with your acquisition criteria and I will get to work.

AND, lastly, there are still properties that are "develop-able" OR "re-develop-able."

All you need to do is...

Contact David Howes at: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!

Monday, February 27, 2017

Urban vs Rural; OR, Blue vs Red

A couple of weeks ago, I wrote a blog about how 57 counties in the US of A are responsible for 2/3's of the nation's GNP; while 3,182 counties or there about only contribute to 1/3rd of that amount.

This got me thinking about an article I read a long time ago from a Princeton University Professor who said we didn't live in Democrat or Republican Societies; we actually live in Urban and Rural Societies.

I now know this to be more true than ever.

For the most part, Urban societies are about growth, working and living close to each other.  This actually requires Urban Society rules of courtesy and accommodation; whereas, Rural Societies are more about individual strength, living on your own, providing for yourself and family what the land gives.  They are more encouraged by self governing, and not worrying about whether your neighbor is making too much noise at 2 AM.  Rural Society feels that any government regulation is an intrusion upon their lifestyle.  So, they are not going to have any part of it.


Once, while talking to an Urban Planner, he remarked that Urban Society rules will work in a Rural Society Setting just as wells as in the city;  but, he continued, that, Rural Rules would never work in an Urban Society Setting at all.

And, I think that is the reason Rural Society doesn't like or fit into Urban Society -- especially when Urban Society moves too close to Rural -- think Oil and Water.

Let's take for example, this current news story from the Las Vegas Review Journal.  A lot of you will have no idea what or where Blue Diamond is -- except you might think that, that is the name of a Street here in Southern Nevada.

Blue Diamond Development

But, a local developer, who acquired +/-2,400 acres on a Mesa in the southwest of the Las Vegas Valley, wants to build single family homes on what was once a Gypsum Mine located on this Mesa; and, the good folks of Blue Diamond, being the proud members of a Rural Society, don't want the influx of traffic, the new homes, and especially -- the number of people who would be using this new development as their place of residence.

That's right.  The current residents of Blue Diamond don't want Urban Society invading (moving into) their Rural Society.

Which is sad, because, with the influx of the new homes, this Rural Society would see the increase the Blue Diamond's revenue, increase in retail spending, newer commercial development, and the ease of expanding their economic output.  Thus, in other words, increasing their profit potential from adding to the County's, State's, and the Countries GNP!

But, because of their 'back off!' attitude; which could easily translate into we don't want your kind, which is mistaken for racial prejudice -- regardless of Who actually moves into the new development, they would forgo the economic improvement to their lives because...well, their Rural Society Lifestyle would have to change -- for the most part.

Now, I am sure that the current residents of Blue Diamond are very, good God fearing, wonderful people.  But, unless they understand that the only way to improve themselves and to improve their lives is to embrace progress, their community will eventually die -- just as other counties in other states where they solely only want their old factory job to be returned to them that in reality is never, ever going to happen.

In an Urban Society, from what I can tell, progress is the way for an Society -- whether Urban or Rural -- to continue to look forward to the  horizon that is directly in front of you.

If you are just looking at what was, and not at what could be, this has and always will lead every Society to ruin.  Just take a look at the numerous ghost towns that failed to see what was coming.

Urban or Rural.  Progress keeps a Society active and economically growing.

Just my two cents.

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!

Monday, August 1, 2016

Trump: Flimflam man?

A few months ago, I did an Internet search for businessmen who became presidents.  Some were senators and congressmen before becoming president.

But, these supposed businessmen who were elected president had one thing in common: They were all in the lower half when ranking them as successful presidents.  (I think the highest was 26.)
Anyway, on the opposite end were the successful Presidents.  These men all had one thing in common: they were failed businessmen.

And, by far the most successful president ever was even considered a failed lawyer.
Go figure. (Or, Google this yourself to verify.)

Now, as for Trump's "Successful" Las Vegas Tower.  People may look at it and wonder how this became so successful.

Well, it was headed into foreclosure in 2010-11.  How do I know this?  Well at that time, a Los Angeles real estate investor client, called me to ask if I could do him a favor and get him quality comps for the Las Vegas Strip condos.

I asked, 'Why?"  (The reason I asked is because I don't sell residential real estate -- at least not individual properties.)

Anyway, he told me that the bank holding the note had contacted him to see if he'd be interested in acquiring the loan.

(Now, this is not unheard of since lenders do this all the time. (It's one of the factors that led Wall Street into their collapse in 2008.))

Anyway, I got the condo comps and sent it to him.

He decided to NOT purchase the loan because, upon receiving the comps, he knew the bank was asking way too much per unit for him.

Later, when talking to this very same investor about another property, I asked what had happen to that loan.

He said that he was told by the bank that Phil Ruffin had paid it off.

(Apparently, Phil still owned the land separate from the tower and wasn't going to chance losing his investment in the land to the bank foreclosing on the tower when the condos didn't sell.)

So, if Phil didn't mention this as a Trump success at the Republican Convention, I guess Phil would know first hand.

Lastly, I doubled checked the ownership on this property recently and most of the units are currently owned by Hilton Vacation Timeshares.  Phil sold the remaining unsold condos to them after he had started to use this building as a timeshare component of his TI Resort Property.

So, if Trump is heard talking about how successful his Las Vegas Tower has been, remember, here is another building with the Trump name on it where he only owns the condos on the 33rd floor.

I guess getting your name on a building you no longer own is something to brag about.

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

Monday, July 25, 2016

Las Vegas CRE with +/-8% Cap Rates are NOT selling! Why?

You know, I believe that anything is possible.  I think it's the optimist in me.  So, when the economy turns and I see deals starting to come along, and they turn to steals, this is when I believe that I can help any investor buy any Las Vegas investment property.

However, the problem I am having today is kind of complicated.

You see, there is an election going on in the US and both candidates are either well liked; or hated.

The sad thing about this is -- since I am subscribed to several property listing services -- I am being barraged with other CRE company's emails claiming that they have SOLD property in surrounding states at such a high price (or low Cap Rate) that right here in Las Vegas, Sellers are struggling to even attract investor's attention at +8% Cap Rates!

I am, after all, more than willing to help a Seller get as much money for their property as long as the Buyer is willing to accept the Seller's price as a great deal (maybe a steal) from acquiring a real estate property.

What confuses me more than anything else is that our +8% Cap Rates are a steal!

Especially when a McDonald's in Southern California sells for a 3.54% Cap Rate!!  OR, a Walgreen's in Arizona Sells for a 5.33% Cap Rate!

I find this not only confusing, BUT unbelievable!  Why would an investor buy such a property at such a high price -- just because it is located in another state?

IF you are NOT one of these investors, or you are and are now just realizing your mistake, please send me an email and I will gladly send you the latest on the better than average CRE properties that are currently available.

I appreciate your support.

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

Wednesday, June 29, 2016

The Real Estate Mortgage Payoff!

Okay.

I am going to get a little too personal in this blog.  I try to NOT talk about myself here.  (There are so many other "things" that are way more interesting then me.)

It's not going to be TMI.  Since, I am not a celebrity or even a 'want-to-be,' there will be no naked pictures.  (My 60 year old body would break the camera.)

Anyway, I have a bone to pick with a mortgage servicing company.

My wife and I took out an Equity Line of Credit ten years ago just in case there were any exceedingly expensive expenses we may encounter during our home ownership stay.

Now that the initial ten years has passed, and our loan is now a 15/15 loan, we have decided to just pay it off.

But, since I deal with lots and lots of real estate investors -- some that I have talked to offered to buy my loan and then I could pay them off!

Sounds good, right?

Anyway, I know the trick to mortgages and since I did help one client to do just this, they have "owed" me ever since.

You see, I know that the mortgage servicing company that "took over my loan" actually "acquired"  my loan from Goldman Sachs "at a very steep discount."

Now, they are trying to convince me to make monthly payments to them for the full loan amount that we currently owe.

So, I said to myself: Self! Since this mortgage servicing company didn't pay full price when they acquired my loan, why don't I just offer them a reduced payoff?.  Then, they would just re-convey the loan to me!  Since they paid less than half of what I owe to buy my loan, I think it is more than fair that I pay them slightly more than what they paid and we can call it even.

Logical, right?!

The mortgage telephone lady said, "I couldn't do that" because "I owe almost $40,000.00."
I told her to have someone from their company who had the authority to say yes, call me.  Once agreed, I would set up a wire transfer between my bank and their bank and we could call it a day.

Hopefully, this works.

I will have to keep you posted.  No calls yet...

In the meantime, for more detailed information about Commercial Real Estate...

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

Monday, June 20, 2016

Las Vegas: Profitable Nevada Ski Resort For Sale!

Within the past month, I have mentioned that I was trying to list a Nevada Ski Resort.
Well, the attorney for the owner wants to handle the sale, so I will let him.

This Ski Resort is NOT in the Las Vegas area!  However, it is within the state boundaries of Nevada and is one of the state's oldest and well run Ski Resorts!

I won't tell you much about it here but if you are interested and qualified, send me an email and I will reply with an Non Disclosure Agreement (NDA) -- so that no one will go around me on this.

The attorney handling this has set up a Data Room where all the property details are located.  To access the Data Room, you need to email the signed NDA back to me.

If you want to see the Ski Resorts' financials, you will have to prove to me and the attorney you are capable of closing a sale in the $65 Million range.  So, please include your financial capacity with your company signatory signed NDA to proceed.

Want further information?  That will take you sending me an email.

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

Sunday, June 5, 2016

"That's a lie! Realtor X said....!"

Talk about disrespect.

Why is it that some people who are supposed to be the closet to you; will treat you with utter disrespect?  You know who I am talking about: Family.

Is it Jealousy?
Are they really that envious of you because you are viewed as being more successful than they are??

Through the years, I have discovered that when certain family members ask me a real estate related question, the hair on the back of my neck feels funny.  So, I usually inquire to myself: Am I being set up?

And, the answer is sure to be: Yes!  Why, yes?  Because most of the time, that's what happens.

They will ask a question, like it's a simple I need to know some of your real estate knowledge type question; I will give an honest answer (why not, it's real estate and most of the time you can search it on the internet); and then, these ungrateful siblings will look at me with that stupid quizzical look in their eyes that say: you're lying!

And, I mean, they will come right out and say to me that I am 'Lying' to them!

What?  Why would I lie to you? I usually ask.
How do you know I am lying? is usually what I have to ask back.

Then, they reveal that they spoke with Mr/Mrs X (for a better nondescript person) and Mr X said -- and they will repeat the lie and announce that they believe it to be true.

I am left dumbfounded.  I usually ask myself just afterward, why?
And the answer is always: Because, there is no reason for me to lie to them.
Why would I?  I am NOT getting any monetary value from it.

It's so frustrating.  I need to learn and stay away from family completely.

This all falls back to my early days in real estate under the tutorial-age of Mike Sitren.

He was correct: One of his rules is and always will be: Don't help family with any real estate related problem; you will regret it.
He emphasized to me one time that: If the transaction goes well, they will assume the credit; if it goes bad, you will get the blame. It's a no-win situation, he said.

And, God Bless the long deceased man.  He is still correct 23 years beyond his departure from this earth.

So, if you are NOT related to me, please remember...

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

Saturday, May 28, 2016

History shows businessmen make bad U.S. Presidents

Every once in a while, some one, somewhere comes up with the idea that the President of the United States should be a businessman.  Well, it's not anything new.

There have been several Presidents that have been businessmen; and as this article outlines, they have turned out to be some of the worst Presidents in the history of the US.

http://www.marketwatch.com/story/sorry-trump-past-businessman-did-poorly-as-presidents-2015-09-03

Now, when a businessmen runs for President of the United States, they usually stand on the platform of their business accomplishments.  They pontificate how they -- as a successful businessman -- can get "things" done.

What they forget is that in order to get anything done in Washington, D.C. or even passed by Congress is: you need tact and tenacity.

However, most businessmen have tenacity.  It's essential to their job.  But, the lack of tact is what usually dooms them as President.

A lot of my fellow real estate broker colleagues criticize Obama.  They think he has been the worst president ever.

But what I see is a man who has a tremendous amount of tact and tenacity.  Even if you disagree with Obama's politics, Obama did get things done -- even though he was slowed by a do nothing Congress.

And, that in itself was a helpful element to Obama's success.  The reason is, when Congress does nothing, the business environment is supposed to improve.  Obama did take over the office at one of the worst possible times.

The World economy was in a deep recession -- maybe even a depression. (I will let the economic scholars decide.)

But, even while being criticized heavily from both sides of every issue, Obama maintained his tact and tenacity.  He was able to accomplish more than I thought he would.

While searching the internet for businessmen that were elected US President, I found this article.   Here a retired military officer/physician did some research and points out that every businessman who was elected US President, turned out to be a bad President.

So, to see what I am talking about, please read this article.

http://thehill.com/blogs/congress-blog/presidential-campaign/262749-history-shows-businessmen-make-bad-presidents

(You may have to copy and paste the links in your browser to review.)

Read and enjoy.

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

Wednesday, May 25, 2016

Chinese Investors Pour Money Into U.S. Property


This is nothing new.  For several years now, I have heard this tune and it doesn't seem to be letting up.

And with Chinese Companies like Anbang and FoSun acquiring US commercial -- and specifically Manhattan properties -- I don't think the trend is going to end.

The latest is: "China Life Insurance team with US developer to purchase Manhattan office tower that houses UBS."

Now, since commercial property sales have slowed in the U.S. so far this year, it appears that Chinese investors are able and brave enough to continue to plow money into this market.

So far in 2016, Chinese companies have purchased or will closed escrow on 47 U.S. properties worth $9.3 billion -- according to deal tracker Real Capital Analytics.

See the article linked here:


I just hope that these companies will turn their CRE acquisition attention to Las Vegas, NV as a place to invest.

With Las Vegas recovering from the 2008 economic collapse and affected property values dramatically lower, I believe the time is right for Las Vegas CRE to launch into another value increase.

Which means YOU should be taking advantage of these lower priced Las Vegas CRE properties.

So, IF you have any questions about investing in Las Vegas commercial real estate, contact me with your questions and I will reply as quickly as possible.

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

Monday, May 16, 2016

8% Cap Rates have returned to Las Vegas!

This is to alarm you!  I am trying to wake you up!  Las Vegas CRE property prices have gone down, enough, to start telling everyone that there are now 8% Cap Rates available!

Generally, in Las Vegas, NV, most properties that would be listed at or near an 8% Cap Rate are properties I would NOT recommend to you.  These properties will have lots of hair on them and trying to trim the excess follicles will be daunting.

And, most of the problems could be that the tenant leases have less than 3 years remaining -- with no more tenant options; or they are a weak non-denominational church (type) tenant; or they are basing the 8% on whether or not the new owner will be able to re-lease the remaining vacancy up in a short time period post escrow (Not Likely).

However, because of the state of the economy, I have complied a list of CRE proeprties that you could acquire at an 8% Cap Rate or Higher.

So, if you have been considering acquiring a Las Vegas CRE property, I am now telling you, you can acquire that property for an 8% Cap Rate right here in Las Vegas, NV!

Where not even a year ago, these very same properties might be offered at a 6.5% Cap Rate range, you are now seeing them at 8% or Higher.

Now is you chance to acquire a property with better tenants or longer leases in the existing property.

For a complete list, please email me and i will reply with the list. Prices run from $600,000 to $10 Million.

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

Sunday, May 8, 2016

Has Resort World Hit a Glitch?

I do know that Boyd Gaming wishes they had never tore down their Cash Cow Stardust property.  It was old and out dated, yet it was paid for.

Resort World, came to town and quickly snapped up the mostly vacant lot for an exceptional price.  $350 Million for +/-88 acres OR just under $4 Million an acre.

But, now I think, Genting Gaming finally realizes they bought on the wrong end of Las Vegas Blvd.

"The Strip" as it is known worldwide, runs from +/-Russell Road at the "Welcome to Las Vegas Sign" up to and including the Venetian and Palazzo Resort.  Anything north of the Spring Mt and Las Vegas Blvd intersection is truly NOT on "The Strip."

Now, Steve Wynn will say he's on "The Strip."  Ok, I'll go along with that simply because he's right at the NEC of this very intersection (Spring Mt turns into Twain from Las Vegas Blvd east).  And the Fashion Mall is on the NWC, so I'll allow them to say they are on "The Strip" too.

But, since the north part of this intersection has never truly ever been financially successful, it truly isn't "The Strip."  You see, the Strip is the section of Las Vegas Blvd where there are +/-100,000 people walking to and fro from one casino to another.  It is essentially the Entertainment Corridor that made Las Vegas famous for being the fun, party city it is.

And, if you ask most people what Las Vegas Blvd intersection they know the best or think of when they think of Las Vegas, they will say Tropicana and Las Vegas Blvd.

Now, as for the North end of Las Vegas Blvd, the Fontainebleau at maybe 50% completed sits unfinished because it is way, way overpriced.  I wrote an offer for it a few years ago at $450 Million, yet that was turned down as being too little.

The Alon, which sits almost directly across the street from the Wynn, is (apparently) struggling to raise the additional $300 Million needed to begin construction.

And, Wynn is proposing to build a +/-40 acre lake that will draw hotel guest away from the casino and out into the bright hot sun.  A Retired Gaming executive once told me you don't want your guest just sitting around lounging by the pool.  You want them inside the casino -- gambling.

Anyway, I always felt that Steve Wynn knew what he was doing.

Anyway, here is an article from Motley Fool you should read.  I feel it explains a lot about the North end of Las Vegas Blvd and the lack of construction in this area.  And, since there is very little foot traffic in this area, it is NOT the section of "The Strip" or more accurately Las Vegas Blvd that will be successful.

http://www.fool.com/investing/general/2016/05/08/has-the-biggest-risk-to-established-las-vegas-casi.aspx?source=iedfolrf0000001

(You may have to copy and paste into your browser.)

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

Friday, April 15, 2016

Looking For a CRE Steal in Las Vegas? What about a Great Deal @ +/-9% Cap!

In the past I have written about Las Vegas CRE Cap Rates.

But, most investors I deal with on a regular basis truly don't understand how Cap Rates work.

Now, I don't mean to insult anyone, but I do need to explain that as long as long term interest rates are set at a number so low, the cause/effect of those low rates will keep CRE selling prices high -- which means low Cap Rates!

You see, if you get a loan at 3 or 4 percent, Cap Rates will remain at 5 to 6 percent.  It's just fundamentals. (Please contact an economist for further explanation.)

Anyway, back to my theme...

A local property owner contacted me last week to ask me if I could help him find a buyer for a property he acquired out of foreclosure a few months ago.  You see, he re-leased the property to the existing tenant on new five year lease; and now wants to sell where he would make a small profit. (I always consider $100,000 a small profit.)

Anyway, I took the property information, sent it out to six or seven experienced property owners I had grown to know through the years and waited for their response.

One, called me right away and said: "That property is Crap! Find me a Good Deal!"

Not insulted, because I do understand this investor's thinking.  He was actually the one who wanted me to find him a Walgreen's at an 8% Cap Rate. (They currently don't exist anywhere in the US.)

Anyway, I had to explain to him that the tenant's lease was a new ink not dried five year lease, with a five year option.  I told him he would actually be buying this property at a 9.5+/-% Cap Rate.  In essence, this is a steal!

So, the tenant isn't a national credit corporation; the tenant only has this single location; and he had been very, very busy operating his auto repair/tire business here for many, many years.

Is the property old?  Of course.  The building was built in 1970.
Was the lot large enough for his use? Yes, it is!  It is on a .51 acre parcel right on a corner. (And, it is fenced!)
Is the street traffic busy enough? Yes!  It is addressed on a heavily traffic street that runs east west across the Las Vegas Valley.
Plus, there is a Lowe's and a Walgreen's in what I term: "Within Throwing Distance." (Now, I know for a fact that I can't throw that far, but you get the idea.)

Still, the price, the newness of the lease, the fact that the tenant had been there for a long, long time and is paying a good monthly rent of $5,200 NNN per month, you would think that this might be flip-able in the near future(?).

Well, if you buy at a 9.5% Cap Rate -- when long term interest rates are at 3-4%, all of you should be picking up your cellular phones and calling me ASAP!

Asking price? $750,000!  Selling price? $650,000.

What are you waiting for? Call me!

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

Thursday, March 24, 2016

You Don't Have to be Rich to Invest in Las Vegas CRE!

A few people through the years have poked fun at me because I am so enthusiastic about people getting involved in Las Vegas Commercial Real Estate (CRE).

Some have even joked that if they win the Power Ball or Mega Bucks lottery, I would be the first person they called. (Not to share it with me, but to help them buy a Las Vegas CRE property.)

I immediately tell them: "But you don't have to be rich to buy a CRE property.  You should start with something small and affordable."

Case in point: I know of a small office (1,900 SF) that is for sale at $299,000!
Yes, it is located on a major traffic road that used to be homes.  But, since the traffic on the street is so high, the City has allowed these home owners to convert their houses into small offices.

Now, the asking rents in this area run about $1.00 PSF ($12 PSF Annually) -- which is not bad considering that this location is a very good spot for first time tenants to get their growing businesses going.

And the investment of $299,000 is about an 8% Cap Rate on the outside looking in.

And of course if you don't have the total sales price amount, you could get an 80/20 Loan-To-Value (LTV) Loan. (Please consult a reputable loan company in your area for guidance on this issue.)

Anyway, if you are willing, this is a very good place to start your CRE portfolio.

So, if you live in one of the higher priced metro residential markets, you know that this is probably less than you spent buying your personal residence.

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

Sunday, March 20, 2016

The Chinese are NOT fearful of Trump. (I think they know he lacks presidential leadership qualities!)

Over the past few months -- especially the last few weeks -- many of the overseas investors I have been working with have stated to me how fearful they are of a Trump presidency.

One client from Europe said that the European Union doesn't want to invest in the US because they think Trump has a chance of winning the Presidency. (He actual said Trump thinks he is running for dictator of the US.)

My Middle Eastern client said that one of his investors is a Sheikh and the Sheikh said he will NOT invest in the US because of Trump's supposed ban on Muslims entering the US.

However, Anbang has continued to make offers on US companies and buy up US properties regardless of Trump's Chinese bashing.  This made me think two things:

1.) The Chinese know that what Trump is proposing is as doable as any of Bernie Sanders proposals.  They will never get done; and,

2.) The Chinese understand that old white men are the ones supporting Trump through the primary process.  They know that Trump doesn't have a chance at being elected president at all.

Recent general election polls that I have seen on the Internet show that even Bernie Sanders would be able to beat Trump in the general election.  And even though there is a lot of hate being spewed by the far right about Hillary Clinton, she would beat Trump easily.

So, with this in mind, I hope to quell any foreign investor fears that Trump will ever reside at 1600 Pennsylvania Avenue in Washington, DC -- I just don't foresee this ever happening.

And, as far as I am concerned, Trump invalidates, bullies, and pontificates a hatred that only  (ignorant) old white men are willing to embrace.

When my ancestors were the first to come to America -- along with the other foreign people who followed along after them (not a legal issue at the time), they were the ones who made the country it is.  And, then, other people from around the world came -- all searching for a better life, and a better way of living. (The Statue of Liberty emphasizes this point.)

And the Chinese know that the type of leader Trump is demonstrating he is and would be, will not win enough votes to win the general election of the freest, most democratic country in the world.

So, please overseas investors, relax.  Trump will not be elected President.  If the Chinese know he  truly is not qualified to lead the free world; he isn't.

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

Wednesday, March 16, 2016

On the Horizon...

Donald Trump, for some strange reason, is winning over (let's call them) normal every day Old White Americans.

I truly don't understand what they are so afraid of.

Donald Trump is fear mongering.  He is playing to the lowest common denominator in this GOP primary season.

With that said, I received an email from my Middle Eastern client which in essence said: Until Donald Trump is out of the presidential race, middle eastern money stays out of the US.

Here is what he sent me:

"... with all the madness and shocking popularity of Trump!!! Which foreign investors specially Middle East take it very seriously not only because of its extreme hatred for all non Americans!! But also because it reflects a lot Americans same feelings and it sheds very bad and instability. On the Horizon."

I don't know if Trump realizes how much his words are hurting American Business.  I don't think he cares about Americans as he implies.

One minority client said to me he thinks Donald Trump is filming a reality TV show and went on this run for president as part of this TV show.  The problem is: he expected to be out of the race by now but he is winning with words and phrases that would have cost other politicians their elected positions.

I do NOT know if this is true.  But, I am NOT voting for Trump in the General election if he wins the GOP nomination.  In my opinion, there is no room at the highest elected office in the world for some one with so much fear and hatred in his heart.

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

Monday, March 14, 2016

Super Bloom! A Real Estate Tour through Death Valley!

This has nothing to do with Commercial Real Estate, however, it does cover real estate in general.

My wife and I, plus brother-in-law, daughter and her boyfriend, all went to Death Valley on Sunday to see the once in every 10 year bloom of flowers -- that is currently happening.

We went to rest, relax and just enjoy the scenery.


Lots of pretty yellow flowers with an occasional purple flower plant here and there.

And if you are ever feeling low, like so low you feel as if you are below sea level, there is an actual spot where you can go to actually be below sea level.


Like 282' below sea level -- without being under water!
(It does say Sea Level on a sign about half way up the rock face.)

Enjoy!

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

Monday, March 7, 2016

UPDATE! -- TWO LAS VEGAS RESORT CASINOS ARE AVAILABLE - UPDATE!

First of all, if you are an experienced hotelier, you need to download, fill out, scan, and email back to me the form under the Las Vegas Casino Information button in the right hand column.

Once I have that filled out formed -- and signed by your company signatory -- I will forward the appropriate property detail for your review.

But, to wet your appetite, there are two up and running resort properties that could be acquired.

The First is a large Las Vegas Resort Casino Property.  Then, again, the Non Circumvent and Commission Agreement is required in order to receive any details on either property.

The Second is a smaller property and costs... Then, again, the form...

But, I will disclose that these will cost you in the hundreds of millions -- each.

If interested (and you are qualified to apply and receive a Nevada Unrestricted gaming license, you must provide the Seller with your financial capability and Proof of Funds to close!

And, this is needed prior to the release of any property information.

The Sellers are looking for people/companies that are either licensed already - or are people/companies that have the capability of being licensed with the Nevada Gaming Control Unrestricted Nevada Gaming License.

NOW, lastly, there is still property that is "develop-able." But, please still adhere to my Las Vegas Casino Information button to receive that property information as well.

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

Sunday, February 21, 2016

What other people think (of me), is none of my business!

About 20 years ago, I learned about this quote.

When I first heard it, it was attributed to A.L Williams. (Yes, the Prime America guy.)

And, every now and then, especially when I start feeling as if "others" around me (business and personal relationships) are invalidating me, I have to force myself to NOT reply or respond to anything they are saying.  I do my best to just let them vent and then, I try to ignore them as much as possible.

You see: when "others" are being critical (invalidating) of you, they are disrespecting you.  In my case, as a real estate broker for 25 years, I am the most knowledgeable about real estate within my family and small circle of friends.

But, since my sibling family members like to refer to me as being "Bossy," this form of criticism always comes across as disrespectful -- even though they think it is being helpful.  And, I believe the reason for their disrespect is that I do have a better working knowledge about real estate than they have.  However, I believe this makes them jealous.  And that jealousy is what leads them to being so disrespectful of me.

Fortunately, my 'clients' refer to me as "Knowledgeable,"  So, I will take this criticism gratefully.

For example: one of my younger brothers thought he should get into real estate to buy and rent out houses.  He was going to grow his real estate portfolio and become rich.

So, once he owned a few properties, loan rates went down, so he decided, back in 2005 or 2006, to refinance the three residential properties he owned.  Back then, I warned him to NOT refinance ALL of his properties at once with the same lender, because I knew his lender of choice would cross-collateralize his properties.

But, he said that wasn't going to happen, because he said the Loan Officer said that, that would NOT happen.

Then, last year, he tried to sell one of the houses.  Once in escrow, the lender send a payoff  amount for all three loans at the same time.  He decided to sue.  He lost his lawsuit.

So, now, I am NOT being boastful about this.  I am only emphasizing that I know more about real estate than a wanna be house owner landlord.

Am I sorry for his dilemma?  No.  I just wish he had listened to me (and I wish he had viewed my advice as being the truth based on my years of experience in real estate).  But, since to him, I was being "Bossy," he listen to "others" who were in fact, lying to him just so they could earn the loan origination fee.

Unfortunately, since he viewed me as being "Bossy," he is now in a situation where he has to sell all three houses at once to get out of the loan(s).

I can only be reminded what Mike Sitren told me years ago: Don't help family with real estate.  They will never appreciate your efforts.

So, if you are going to call me Bossy, because I suggest you do/do not do something in real estate, best of luck to you.  I don't need your invalidation and...

...what you think (of me) is none of my business.

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

Saturday, February 6, 2016

Las Vegas Boulevard vs "The Strip!" There is a difference! Hint? North and South

Everybody in the World has heard of or has some knowledge of the Las Vegas "Strip!"

It is one of those topics that every so often gets tossed around every now and then and everyone who has ever visited Las Vegas knows everything about Las Vegas -- especially "The Strip!"

Well, did you know there is a good "Strip" and a bad "Strip?"

If you didn't, you are NOT alone.

Many, many people will read something about Las Vegas -- either because they are planning a visit; or, they are searching for a property -- and run into the phrase: 'located on the world famous Las Vegas "Strip!"'

In most cases, that might be true.  But, just because they have a Las Vegas Boulevard address doesn't mean that they are actually located on the "Strip!" And, if the property is located on Las Vegas Boulevard between Spring Mountain and Downtown Las Vegas, that "technically" is NOT "The Strip!"

Unfortunately, that is simply Las Vegas Boulevard.

"The Strip" is actually the part of Las Vegas Boulevard that runs from the 'Welcome to Las Vegas Sign' up to and might even include Wynn Resort and the Fashion Show Mall.  This is where Spring Mountain Road and it's cross street partner intersects Las Vegas Boulevard.  You know this intersection because this is where the Venetian is on the SEC; and TI is on the SWC.  And, Wynn is on the NEC.

So, nothing north of this location is truly "On the Strip," even though the casino owners of the properties north of this intersection will beg to differ.  You see, the Fontainebleau, Resort World, and that proposed new development Alon are all close to this intersection.  But, even though they claim they are on "The Strip," they truly are NOT.

To Prove my point, here is a link to aerial shots of "Strip" located Las Vegas Resorts that are on "The Las Vegas Strip." (You may have to copy and  paste in browser if link doesn't work.)


SLS, Circus Circus, and even the Stratosphere advertise that they are on "The Strip" when in fact, they are merely on Las Vegas Boulevard.  Of course, they justify this by saying they are located on "The North Strip."  But, that's just semantics, right? And, I would say that Trump Tower is NOT located on the Strip -- even though it is directly behind the new Alon (supposed James Packard project) development.

So, do most of you understand what I am saying?

"The Strip" has +100,000 people on average in foot traffic just about daily.  Las Vegas Boulevard to the north of Spring Mountain doesn't.

So, if you are a resort buyer, please beware of any property that is being advertised as: "On The Strip."  It is probably not.

If you have any questions about this topic, please click on the Las Vegas Casino Information button to the right, print the form, sign and email it back to me.  Once this is agreed to, I will be most happy to help you understand the difference.

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

Monday, February 1, 2016

Is China trying to force Macau Casino Owners Out Of Business?

For a long while now, I have had several discussions with Las Vegas Gaming executives, some still employed and others retired, about how China is treating the current casino owners in the gaming hot spot known as Macau.

I believe that China (recently) closed their borders to Macau in an effort to force the casinos owners out of business.

Of course, their standard PR line is/was: ...to stop corruption.

But, I think that China saw just how much money the casino owners were actually making and decided that they should be in charge of the properties -- thus, they would be raking in the billions that China's citizens were gambling away every month in order to become rich so that they could improve their lives.

Now, I have absolutely no proof of this at all.  It is just a gut feeling I get from reading various news reported stories about the Macau enclave.

The latest is this article from re-known gaming reporter Howard Stutz of the Las Vegas Review Journal.  (You may have to copy and past in your browser to read.)

http://www.reviewjournal.com/business/casinos-gaming/macau-casino-revenue-falls-214-percent-january-20th-straight-monthly-decline

In his article, Howard outlines that Macau revenue has fallen for 20 straight months; and, it fell 21.4% this recent January, 2016.

To me, the fact that it is only down in the hundreds of millions, is not as bad as the fact that the casinos are still earning Billions in US dollars per month.

I believe that that amount of money being earned there by Las Vegas casino operators is too tempting to the Chinese officials to allow to be continued to leave their country.  Thus, I believe that China will in the foreseeable future take over the properties as a means to control how their citizens are spending their hard earned money.

If I am wrong, I will apologize right here, right now.  But, my gut says otherwise.

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