Showing posts with label Las Vegas Strip. Show all posts
Showing posts with label Las Vegas Strip. Show all posts

Saturday, August 5, 2017

Neighborhood Retail Centers For Sale in Las Vegas!

Now, most people have been to or even frequent a local convenience store that usually sits on a high traffic corner of an intersection.

Most of you don't even give these locations a second thought.  You pull into the "gas station" (the Gas Pump) pay for the gas you need and begin refueling.

Now, sometimes, these location also have other shops and stores that line up along with the convenience store.

Sometimes, these convenience stores are stand alone properties -- notably a 7-Eleven, or an ARCO.  You get the drift.
Most, however, will have other stores lined up along side the Convenience store.

Then, again, they might just NOT have the convenience store anchor.  Which is okay, too!

Now, last week, I noticed a marketing brochure in my Inbox from another broker asking for help to find a buyer for a 'Strip Center' he has listed.

Anyway, I have a client looking for such a property and forward the information to them.

What got me thinking is this property -- though leased up only +/-75% would be a good buy for someone looking for a passive income. (Even with the less than stellar occupancy, this property still nets $204,000 per year.)

So, I decided to send it out to other investors to see if they would have any interest.

To my surprise, there is interest.

Which got me thinking: If these investors find this property of interest, why not you?

True, it is NOT sexy.  It's NOT a casino; or a Resort.  It's not something to brag about.

But, it is INCOME.

And, the last time I checked, everyone needs income -- no matter what your tax bracket is.

So,...if interested in acquiring a property that provides income,,,

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!

Wednesday, July 26, 2017

The dog days of (potential) economic recession!

On September 15, 2015, when I thought "things" were about to get really, really better (economically speaking), I wrote a blog about the Chinese devaluing their Yuan.

(Here is part of what I wrote:
Algebra!  It is the curse of me.  To this day, I do not understand: x+y=z!  Huh?
The odd thing is, my dad was an electrical engineer; thus, algebra was easy for him.
My wife, also, understands algebra.  She uses it everyday at her commercial interior design firm.

I even have an uncle who has a phD from HAAV-VAARD who I know understands algebra, too!

But, most of you, are probably just like me.  Algebra is a foreign language -- much like currency exchange.

I bring this up because, like you, I read that China devalued it's Yuan.  (Please do not try or even think of attempting to explain this to me.  I am lost just thinking about it.)

So, as of this AM, one Yuan is equal to $0.16 US.

I suppose this is good.  However, since I know very little about currency exchanges, I can only assume that the Chinese government did this to prevent anymore money from leaving China.  With the Yuan devalued, I guess it buys less foreign property and/or goods.  Am I right or wrong?

So, since this investor's money is coming through China, I don't understand the algebra of it.

How does depositing money into China, thus turning it into Yuan, help you acquire a Las Vegas Resort for less while also gaining more in value?

One day, I will probably understand.  But, I am not going to just sit around waiting for the answer to come to me.

So, was I off my much?

I ask because I just received notice from my Co-Broker Partner who lives and works in Australia that the Chinese Government is (essentially) halting any more Chinese firms from investing further in USA Real Estate.

Why?  Your guess is as good as mine.  From what I've read, the Government fears a cash shortage if anymore Yuan's are converted to Dollars and they leave the country.

(This relates to the algebra problem I mention above. =) )

Anyway, as I sit hear wondering just when this crack down on money exiting China (?) will end, I am hoping to between now and then, my survival mode keeps me aloft.)

The only thing I think right now is closing something.

Did I mention I listed a motel casino?  Give me a call if interested in the details.

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, July 10, 2017

CRE Deals Come & Go! Some Fly - Others Die!

It's NOT too often I would be insulted by comments made by a Seller or Buyer.

When you work hard and try to accomplish the impossible, there always seems to be something that goes wrong and sets you back.

I like the analogy: Take two steps forward; one step back.

Hey! It's real estate and you never know what could happen until it does.

For example: my son and his wife recently told us they wanted to acquire a house.  Okay. I asked could I refer you to someone?

He said, they were thinking of buying without an agent.
Now, having been in real estate since 1991, I had to go, "Woo!"

Why would you do that?  (He and she have never purchased a home before, so I can see the obstacles mounting right in front of them.)

Anyway, I got the feeling that some one had hooked their ear about saving money by doing it themselves.  (Sorry, folks! But, that doesn't happen! You just end up getting ripped off!)

Well, with the help of my wife -- our son's mother -- we think we've bridged that gap.  (We'll see.)

Then, about a week later, a developer I know who owns an Off Strip motel wanted to talk to me on a Sunday.  Okay, I understand that real estate might have to be a priority over the weekend.  Well, during the call he proceeded to chew me out because the Chinese buyer I was dealing with wasn't moving fast enough for him.

(This requires some back story: the developer acquired this off "strip motel about 11 years ago to re-develop it.  He has waited, and waited because the economy had gone south in the mean time.  And, since development money had dried up; it has recently reappeared in Las Vegas.  Lately, he started to make noise he was going to re-develop the motel again.  BUT, he was willing to sell, too.  After re-contacting the developer again, he set a couple of unrealistic deadlines to get him an offer.

Anyway, if you ever worked with Chinese buyers before, you know they tend to do things on their schedule -- not yours.

So, in the meantime, there were a few delays with the Chinese getting an offer started -- as is their MO.

Well, the Sunday morning call was to let me know, the developer wanted to deal directly with the Chinese group and I'd be paid anyway.  He said he didn't think I had the experience to handle his transaction.

Okay, I'm insulted.  But, I know this developer and he is an a--h---!

I took the information and proceeded to contact my co-brokering partner over seas.  He speaks fluent Chinese.  Well, he didn't like that idea and thought it fishy.  He said 'let's look for another property.'  Which I am doing.)

After wards, I was thinking about this situation, and came to the realization that the developer never, ever had any intention of selling.  He was just hedging his bet against the economy here in the US until it improved.  Which it has.

So, all those years trying to find a buyer for his property was -- well, it truly wasn't a waste of time.  I was able to find other buyers while using his property as a prop.

No loss I guess.

So, my experience is questionable to this developer. NOT!  It's his excuse to NOT sell his property and further to try and raise additional cash for his development.  Oh, well!

One day we'll cross paths again.  We'll see what has transpires in the meantime.

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!

Wednesday, July 5, 2017

Would a Monthly Income from Net Leased Real Estate Investments be helpful?

First off -- I will apologize to all that have been on the receiving end of my various (and probably poorly times) emails from me about various Las Vegas, NV income properties.

And, I will include those who have been subject to my snail mail Letters and Tweets!!

My spouse and son recently made me realize that in the blog followers/readers everyday life, they are NOT experienced in Real Estate to the extent that I am.

So certain words and phrases that I may refer to about Real Estate investing are usually lost on the average person.

With that said, I am only trying to inform you. Nothing more -- unless you are interested.  Then, you can call or email me any questions that you have, and I will try my best to promptly answer.

Remember: There are no stupid questions when it comes to real estate investing.  If you don't know something: Ask!
I will give you the best most truthful answer I know. (There's no fake news here.)

I like Mark Twain's quote: "When in doubt, tell the truth."


I like this quote, too!

Since I know a lot of you potential real estate investors may have a lot of doubt, I will just tell you the truth.

It's that easy, because I don't have to remember any lies.

So, if you want to earn extra monthly income from a passive net leased investment, you just need to contact me directly.
I will do my best to help you find the appropriate real estate investment for you.

Making money while you sleep is the best way to earn a living.  (I forget who said that.)

So, give me a call.  Let's discuss this further.  Once you have seen the light of a regular passive monthly income, you will NOT want to go back to business as usual.

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!

Tuesday, July 4, 2017

Happy 4th of July - Independence Day is here!

To show my Patriotic Spirit, here are some images of Las Vegas Fireworks!

 Fantasy!

Reality! 




Happy Fourth of July!

PS: (Now, I will prepare to dog sit two dogs that dislike anything that goes BOOM!)

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!

Thursday, June 29, 2017

Make America Great Again? It always has been Great!

This past years General Election did wind me up and probably not in a good way.

When one of the candidates was campaigning on a racist platform, I was confident they wouldn't win.

Okay, they won -- the Electoral College.

Oh, well.  Time to move forward.

But, will the mostly poor counties that are stuck in the past be able to move forward?  I'm not sure.
It's like some one who tries to do the same thing over and over and they continue to expect a different result.

Are they insane or just showing signs of being an imbecile?  (See!  I am improving!  Last year I would have said: Crazy or Stupid!)

Anyway, I will leave invalidating other people to the bullies.

Today, I ran across this news story that I (think I) had seen on fivethirtyeight.com.  But this one was published by the New York Times and Re-printed in the Las Vegas Sun.

Apparently, America is changing.



https://lasvegassun.com/news/2017/jun/29/census-time-machine-sioux-falls-past-vegas-future/

So, if you have racist tendencies and believe that America would be 'Great Again' with more Caucasian people than 'others,' then you will be greatly disappointed with the projections this story has.

Personally, I never thought that America was "All White" to begin with.  But, that's just me.
Fortunately for me, too, I also live in the city that is probably already where the rest of America is going to end up -- population diversity wise as the story predicts America will be by 2050.

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!

Thursday, May 25, 2017

ICSC Las Vegas has come & gone!

For about 10 years, I was a card carrying member of International Convention of Shopping Center (ICSC).  And, every year that I was a member, I'd spend the $300 to $400 per convention to attend the full convention.  Well, since I live & work in Las Vegas, I thought, Why not?

And, every year, I'd attend the seminars, work the booth & roam the halls meeting & greeting various other potential clients at their booths in a search for the elusive tenant, developer or buyer who'd be interested in investing in a Las Vegas property; develop some Las Vegas land; or buy a Las Vegas Shopping Center.

Most of the people I'd meet were cheerful & friendly; a lot "already had their plans" in place; or/and "weren't interested in Las Vegas."

And, I remember one developer telling me they would never develop in Las Vegas because of it's gambling. (What? "I'm Shocked!  Shocked to find gambling in this city!")

Now, that concerned me because my immediate thought was: 'if you are NOT interested in buying or developing in Las Vegas, why are you attending the Las Vegas convention?'

Anyway, after about 10 years of attending, I decided to NOT attend anymore.

Now, there were various parties being thrown by various attendees that I did get to go to.  But, even there, the attendees seemed more interested in the allure of Las Vegas Gambling and Partying that striking up a meaningful conversation with them was at best difficult.

Since I live and work in Las Vegas, this party all night or into forever attitude was never something I was attracted to.

I just wanted to help some one acquire a Las Vegas property as a tenant, developer or investment.

That never happened.

Now, I do realize that a lot of deals are done way, way before clients ever step off the plane and onto the tarmac.

But, even in following up, these attendees I believe most likely couldn't remember their time here.

So, after having skipped the last 10


ICSC conventions, I have found that I am truly better off NOT having attended.

During my time when I did attend, I still have contact with only one potential client who still tells me they are interested in Las Vegas -- but not at this time.

Sound familiar?

So, instead of attending ICSC, I will continue to work my telephone, email clients, and reach out to whoever contacts me from around the globe.  I believe sooner than later, my efforts will bear more fruit than if I had been attending every ICSC convention in the last 10 years.

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!

Wednesday, March 29, 2017

A New Beginning for Las Vegas?

Las Vegas!

Everyone knows your name!

Translated, it means Fun! (Not really.)

But, when some one, anywhere in the world says: "Let's go to Vegas!"
Everyone, no matter where you are in the world, knows what they mean.

And Fun means: Lots of Free Alcohol (if you are gambling), Gambling (if you are drinking free alcohol), and Partying all night long (a result from gambling and free alcohol).

So, when the NFL took up the topic of: "Should the Oakland Raiders be allowed to become the Las Vegas Raiders?  For some reason, they voted 31-1: Yes!

And as the insert article from Casino Industry Gaming News states: It was money!

Gambling Finally Becomes Non Issue With NFL Owners

That's because "Money Talks and Bull S@&t Walks!"  Is the old saying, isn't it?

And, they Voted, Yes despite the facts that Las Vegas doesn't rank very high media wise,  But, according to their vote result: Las Vegas still ranks! (No pun intended.)

Las Vegas City Rankings (Just for Fun!)

And, lastly, and this is my personal assessment, as a place to live, work, and raise a family (having lived and worked in other markets) Las Vegas is Number 1!

I think the best thing is: Nevada doesn't have a State Income tax.

Lots and Lots of money pours into Nevada via the Mining Industry, just as well as the tourism industry.

Las Vegas roads are wider than any other city in the world -- even wider than the city (supposedly) built for cars -- Los Angeles.

And on the outside looking in, Clark County and City Planners are more up to speed as to what is necessary to make traffic flow easier around the valley.

When people I'm with complain about the "Orange Traffic Cones" lining the streets, I remind them  that, that signals progress and growth!  We may NOT see the results of that growth immediately, but we will as traffic volume increases, the roads are already wide enough to handle that traffic.

And repairing roads, building much needed On and Off-ramps, wider Freeways and Streets, is all part of a growing economy.  A Valley destine to grow even larger.

Years ago, a developer told me: "If you don't have orange cones in your roads, you have a dwindling economy."

I think Mark Davis knew this and wanted to be apart of it.

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, 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

Monday, July 18, 2016

'You hook them by selling the dream..." former employer selling a get rich quick scheme

Years and years ago, while I was living and working in Los Angeles, CA I worked (very shortly) for a person who was selling success!

Yes, I was young and fell into the trap of getting rich quickly, but I got out just as fast before I invested any money in his scheme. (Good thing for me: I didn't have any.)

Anyway, I saw this today on CNN about democrats living and working in Youngstown, Ohio who have fallen for Trump's scheme.  You know, the one about how he is going to fix the numerous problems that Americans currently have: lack of jobs; desperate about what is in their future.  You know the routine.

While watching this on the Internet, I immediately thought back to the old saying spouted by a person who I shortly worked for.

"You hook them by selling the dream that they can make it rich.  You and I know that most are never, ever going to be rich, but that's what you sell them."

(After realizing the impossibility of his scheme, I exited his employ to his invalidating harassment for a few months that followed.)

And, that's how I felt for these people that were interviewed in this news piece.  They are desperate and are searching for a quick answer to their daily problems.

http://www.cnn.com/2016/07/18/politics/cleveland-youngstown-ohio-democrats-republicans-political-anthropology/index.html

You see, this town lost their steel industry, and they fully believe that Donald Trump is going to bring that back to Youngstown, OH.

Now, every sane person does realize that as long as the corporate CEO's are making more money by having their industry in a country where they don't care about their environment, that is never going to happen.

What these people -- who have been suckered into thinking this impossible dream -- don't realize, is that Americans are NOT going to work for the low, low wages being offered and accepted in China.

Unfortunately, these middle-aged white people long for a former "better day" where jobs were just down the street. You know just before the steel factory that was ordered by the EPA to stop polluting.

Okay, says the CEO, off to China we go!  (Hey! They stopped polluting!  Well, they stopped polluting here in the US anyway.)

Lastly, the jobs are going to stay in China regardless of who wins the election to occupy The White House.

The reason: Americans want and will always demand clean, drinkable water; clean, breathable air, and to be able to eat non-contaminated food.

And, they will demand to earn a livable wage -- which is higher than what the CEO's are willing to pay.

So, Trump's selling a dream that he will never, ever be able to deliver -- but that is what is most important: Hook them by selling the dream.

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

Sunday, July 17, 2016

No matter who wins the US Presidency, there are good deals in Las Vegas CRE today!

With the US Presidency up for grabs (I truly didn't think Trump would make it this far), there are still a few very good buys in Las Vegas as we sit here today.

However, several out of country "Buyers" keep telling me they want to wait to see "what happens" come November.

It's as if they could care less whether they get a deal on a property or not.  No matter what I recommend on these properties -- they have a horrendous need to wait and see if the US General election voters will pass their litmus test.

Yes, they fear a Trump Presidency.

If I had the money, I would have already bought all of these properties, because I know regardless of who wins, the deal will be in the re-selling of the properties to these very same procrastinators.

So, right now, these Buyers are like, ugh! Trump may win the presidency, Oh, God, No!

But, since I recommend that you buy now while these properties are still at a good price; the buyers  would rather wait to see who wins the presidency to acquire that very same property!  Which will be at a higher price regardless whether Trump or Hillary win!

SO, all you Buyers, you are just killing any chance at acquiring a good property at a good price/deal.

Now, I will tell you all of the STEALS are gone! That window closed a few years ago!

However, the good deals that I am talking about could make you money over the short term (5 years) AND long term (10+years).  You just have to have faith in the future of Las Vegas -- which is still growing!  So, forget about the US presidential race.

Whoever wins, is going to be hated by 50% of the electorate anyway.  And, I have no control over that scenario at all.

So, if you are a serious Real Estate Investor -- looking for a Good Deal -- take the time to please give me a call; and stop worrying about Trump's ignorant arrogance; or whether Hillary's (alleged) criminal activity will hurt you or her.

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

Friday, July 15, 2016

Real Estate Mortgage Payoff -- Part III (Sigh!)

Ok.

Now for the finale.

I was finally able to speak to an Account Manager at Shellpoint.

She told me that Shellpoint was only loan servicing my loan from PNC.  So, the PNC people I had spoken to lied to me. (Not surprised.)

Anyway, she said the only discount I could receive was 10% -- and I'd have to qualify for that.  I thought that I could do better.

So, with that done, I called my client/friend, who does loan buying and selling, and foreclosing.  A few days later, he called back.

What he told me should NOT have surprised me; but it did.  And, I now have a fuller understanding of this parade of loan/debt buying that I didn't before.

My client/friend told me that the amount of my loan was actually pittance. It is not near enough for him to go near.

He said that if I want to pay the loan off, write them a check for the full amount.  He did say I could take a chance and write a check for 90%, but he asked: Is losing your home over $3,800 +/- worth it?

He knows, I know, it's not.

He said that the lender is fully aware of my house' value. They know I have equity, and if I try to play the game, they will take the house through foreclosure and I'd be out of everything.

He suggested that I don't do that.  'Pay them off and move on,' he said.
'At least you'd have a home free and clear' --  which is a rarity these days.

So, I learnt my lesson. Whether I think it fair or not, paying them what I owe and moving on is my only option.

Now, if only I can convince Donald Trump to stand down....maybe my foreign investors will get off the real estate buying fence...

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 9, 2016

Las Vegas Restaurant offered at an +/- 8.4% Cap Rate!

This may or may not be your cup of tea, but it is an investment worth a second look.

Popular China Star Restaurant located on Craig Road and very, very near a Wal-Mart Superstore.

Investment Summary:

Offering Price:                   $1,990,000
NOI:                                    $166,320
Cap Rate:                           8.36%
Lease Term Remaining:   10 Years (This is excellent for a free standing investment.)

Location:                            Very busy retail corridor in North Las Vegas, NV 89032
 Home Depot Anchored Shopping Center Pad

Sale Highlights

•             Safe & Secure Investment:  Tenant's been at this location since the property was built in 2007
•             NNN Lease (No Landlord Responsibilities!)
•             Over 10 years remaining on their initial lease term!
•             Home Depot Outparcel: Located in a very busy retail corridor/district
•             Adjacent to anchors: Home Depot, PetSmart, and Office Depot.
This has excellent exposure on high traffic Craig Road -- which is one of the busiest east/west
thoroughfares in the Las Vegas MSA.
Shopping Center has its own signalized intersection!



I Googled Earth this site, and there are major retailers in this area including Walgreen’s, Walmart, Target, as well as Home Depot and Office Depot.  Albertson’s is across the street.

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

Friday, April 1, 2016

Another Las Vegas "Strip" Property For Sale!

There have been a lot of 'hits' on my web site about Las Vegas Resort Properties.  Several have been searching for "Strip" Properties.

Fortunately, there are properties located on the Las Vegas Strip that could be acquired.  (And, I am direct to one Owner who will compensate me for bringing them a Buyer.)

For a First Time Las Vegas Blvd Buyer, the price may seem too high!  However, since the property falls under the Clark County Gaming Overlay; and, it is located within the correct part of the "Resort Corridor," the Owner is being smart in their pricing.

Most surrounding properties have or will make +$100 Million in EBITDA annually.  Some, will earn +$300 Million.

And, the property is large.  If thinking of going bigger, it could hold +/-10,000 rooms in hotel Towers that could reach +/-500', it is also large enough to include a Mall, and has enough frontage along the "Strip" for profitable restaurants or retail shops.

Also, the Owner is willing to compensate me for bringing a Buyer.

If you think this fits your acquisition criteria, then click on the Las Vegas Casino Information button located in the right hand column; Print the Non-Circumvent Form; Have your President or CEO fill it out completely (authorized signatory's only); and scan and email it back to me.  This is necessary so that I know that everyone stays honest with each other.

And on it, I ask that the Buyer pay me 1%.  That is there only if the property in question doesn't actually fit, I can, without hesitation, find you another property?

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