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

Wednesday, November 29, 2017

The more things change, the more they stay the same!

After reading Susan Phillips' "Select Leaders" posting about Millennials staying at home with parents to live, I got to thinking about the very subject she mentions here.

Jobs.

Since I have been self-employed for so long, it would take a miracle for me to go back to work for anyone else.

But, as she states, I work in an industry that is (supposedly) growing.  In the past year, I've gone from working large CRE deals to very, very small. (You take what you get, I suppose.)

The fortunate part for me is that I have a very low overhead and with my business so slow, I am still able to maintain myself with a huge help from my spouse. (Her industry is booming in Las Vegas.)

Anyway, with extended family having moved in to our household, this scenario covers the majority of Americans who have lost employment over the years and were replaced by automation.

It is an interesting read -- if only to me and my family situation.

Enjoy.

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!

Sunday, November 12, 2017

Climate Change Natural or Man-made?

If NOT into politics, you might want to avoid this blog post.

Since DonTheCon was Electoral College elected president, he has embarked on getting rid of "Unnecessary Government Regulations." I agree in a small part that the government does have some rules,/laws on their books that should be removed/changed.

But, when he appoints an EPA head who is a stanch supporter of the Oil Industry -- and this EPA Chief believes that the Oil Industry should be able to do what ever they want regardless of Cause and/or Effect on others health and well-being -- that's where I begin to have a problem.

Why?  Profit!

I believe the Oil Industry thinks that they do NOT have to clean up after themselves.  To them, cleaning up is too costly.  Besides, oil comes from the ground.  Why can't they just dump oil waste back onto the ground -- where it came from?

Everyone knows that the primary cause of air pollution is the gasoline engine.  Attempts to make electric engines doesn't give the driver the sense of power and surge of adrenaline that a gas engine does.

(Even I have a gas powered car.)

But when any industry is allowed to run rampant and destroy the air, water and earth we live on, I believe there is only so much the earth can take.  Humans are changing the planet and NOT for the better.

Even Stephen Hawkins says that we will destroy Earth because of the above aforementioned demand for Profit.  He even gave a year by which we will be successful in destroying the only planet we are capable of living on in the known universe -- 2600.

But, hey, that Profit is so, so important.  We need to keep the oil industry going.  Because without the oil industry, we just might be able to slow down or even stop climate change; have cleaner air and water; and, definitely have less pollution in general.

But, since profit is so important, we need to keep destroying human lives because - well, there are already too many humans occupying Earth. So, humans will continue to destroy Earth so when there is no Earth left, at least there will still be profit!

Can Earth right itself without humans changing their course?  I don't know.

But as these pictures from New Delhi, India indicate, I don't think so.





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!

Friday, November 3, 2017

Owner Chews Me Out For Contacting His Lender!

First of all, I know the Owner quite well!

Second, there was a Notice of Default (NOD) filed on his property.

Third, I am dealing with a buyer that has expressed interest in acquiring this property and when I told them about the NOD, they said I should get the loan information.

With that said:  What I did wasn't wrong.

Been there; done that!

Through my years as a Real Estate Broker, I have also worked in the lender industry for prominent banks, mortgage companies, and brokers originating loans, etc.

I have acquire quite a bit of knowledge as to HOW? real estate financing works.

Do I know everything? No!
Do I continue to learn as the real estate industry evolves? Yes!

So it should NOT come as a surprise to anyone -- I told the owner -- that a buyer with cash wants to acquire property at or below market value.

That's how it works.  He reluctantly agreed. (He does the same thing.)

Since the property had an NOD, the buyer I am currently working with said: 'See if the lender will sell the loan?"'

So, I contacted the lender and was told: 'No! The loan is NOT for sale.'

I inform the buyer.  They were like, okay.
That's when the owner finds out through the lender I called, okay.
That's when the owner tells me: 'Don't do that ever again.' Okay!

But after hearing him out, I understand his position.  He doesn't want to lose the property but doesn't want to lost his investment into the property either.

I get it.  And, so do all of you fellow real estate owners.  You don't want to lose your initial or equity investment in any real estate property.  Neither do I.

Everyone knows that foreclosure is a bad thing -- especially when you lose your entire investment into the property.

I tell the buyer we need to make an offer before the NOD runs it's course. That was yesterday.

Hopefully, the buyer is able to convince his investors this is a steal at the asking price and should move forward quickly.

More as it happens.

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, October 17, 2017

Las Vegas Hospitality, Resort & Gaming Property For Sale?!

Yesterday, I noticed that another International (supposed) Real Estate Agent (IREA) was marketing a (anonymous) Las Vegas Resort Casino as For Sale.

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!

Monday, October 2, 2017

Sad day when fun and relaxation turns into a living horror!

Soft Target is what it's called.

That's when an individual takes advantage of a large peaceful crowd of people minding their own business and enjoying the evening entertainment when the despicable happens.

A massacre of unbelievable portions disrupts the peace and tranquility and the massacre leaves 58 people dead and 515 people wounded. (As of my posting this blob.)

And, the coward 'terrorist' (let's be honest, that's what he is) then kills himself as the police are about to move in.

I always ask afterward: if this person is truly set on committing suicide, then why kill others before killing yourself?  As a lay person, that doesn't make sense to me.

But, as the 'news' comes forth as the police investigate, it becomes apparent that this Stephen Paddock had planned this out thoroughly.

He had a 32nd floor suite that almost overlooked the event grounds on the east side of Las Vegas Blvd.  He had at least ten weapons n the suite.


And whether or not a few or many were slaughtered, he didn't care.

I hope he has an endless afterlife in hell.  If he thought his actual living life as bad, I hope Lucifer makes his afterlife even more painful.

http://www.msn.com/en-us/news/breakingnews/who-is-stephen-paddock-las-vegas-shooter/ar-AAsMY12?OCID=ansmsnnews11

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, September 25, 2017

Immigration, Tax Reform and Healthcare help the US Economy

Last week, I was invited by Bank of Nevada to attend an economic presentation they held at the new Las Vegas Golden Knights practice arena.

There Beacon Economics, LLC made a presentation about the Las Vegas economic future.
(It looks very bright!)

There were three things mentioned during this presentation that made me go, "Hmm!"

One was Immigration.  He presented information that when the US has more of an open immigration policy, the economy expands.  Since 1924 when the KKK had Congress pass the Immigration Act of 1924, this place a restriction on "Who" was more invited into the US than others.  Since that time, we have seen several economic cycles come and go. (Due to immigration restrictions? Probably not.)

But, one of the main problems today is that there is a shortage of unskilled workers for the number of unfulfilled unskilled labor jobs.  Yet, the current administration wants to restrict immigrants who through US history, have been the ones to fill those jobs.

Second was a discussion about Tax Cuts.  Us US Citizens have a history of NOT wanting to pay any taxes.  Nobody likes to pay taxes.  But, the information presented showed that giving high income people a tax cut, you actually gut the funding for a lot of necessary government programs.  Thus, you hurt the economy.

Road infrastructure and other assorted government provided services usually end up gutted when there is little to no money coming into the government.

Last was health care.  They touched on the fact that if American families are saddled with high health bills, they have little to no extra spending money and still very little for other than basic necessities such as food, shelter, etc.

By eliminating any extra income the family might have, it prevents them from participating in the overall economy in general.  Thus, when their backs are against the wall, and little income to live on, they eventually file Bankruptcy -- which hurts the overall US economy.

So, as we march forward with an administration fully geared up to run immigrants out of the US; give massive tax cuts to the higher income people; and gut a health care system to appease a few campaign donors, we are actually lining our sights on a turbulent financial future rather than a profitable one.

For more information on this topic: www.BeaconEcon.com

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 19, 2017

Mom & Pop Casino For Sale!

When I established my web site many years ago, I truly didn't have faith in it leading to very many clients.

Well, at least the web site hasn't disappointed me.

Anyway, recently, my web site has allowed various real estate property owners to contact me.

To my surprise, one husband & wife team did give me a call to ask about selling their local casino.

Now, for you want to be casino owners, don't get too excited.  Owning a casino is a full time 24/7 job.  So, unless spending your time always "on the clock" isn't for you, then casino ownership may be a thing you'd let others do.

I say this because these mom & pop clients want to sell because of that fact.

Now, this is a local casino in Nevada.  Unfortunately, it is NOT in Las Vegas.  So, the bright lights of the Las Vegas Strip won't be shining in your eyes as you make your way to and from 'work."

But, this property is a fully licensed unlimited gaming casino and it does have 60 motel rooms and suites for your traveling customers comfort.

The property does have a steak house restaurant, a Chinese Restaurant and a lounge.

The property is a combined +/+9,500 SF property on a total of 1.94 acres right smack in the middle of town on 'Main Street.'

(Obviously, NOT the subject property since this is no longer standing.)

Unfortunately, as the husband owner said, they are directly across the street from their biggest competition.

True, there are a variety of small restaurants, bars, taverns, sports bars -- all with gaming -- that are for sale in and around Las Vegas itself.  But, this property is the only actual "casino" with motel rooms (that I know of) for sale in this region of Nevada.

The owner of this property is asking $3 Million.

So, that is all I can disclose at this time.  You will have to email me for the Confidentiality Agreement in order to see the financial and property details.   Any further information requires this signed document.

Now the owner says the price is the price, but I know there is some wiggle room.

Is it making money?
For that answer, the signed CA is required.

Plus!
I need to know a little more about you as the buyer.
So please be prepared to disclose your acquisition capability. I don't need it up front.  But, your proof of funds will be required with any offer that is to be presented to the owner.

Once you've owned a casino for a while, you'll understand this tactic.

So,...

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!

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!

Wednesday, June 14, 2017

Medical Marijuana Smoking Neighbor Violating Quiet Enjoyment!

When I was young, I didn't care about whether you smoked or not.
I did on occasion partake in sharing a "joint" now and then.

But, as I've grown old, and started investing in real estate, I've been more, and more keen to rules that could inhibit my real estate ownership.

For example, I don't rent units to smokers -- unless they put up an additional security deposit.
Why?
Because upon them leaving, I have to wash and re-paint the entire unit to cover/remove their smoke residue they leave behind.

With that said, recently one of my tenants let me know, he was thinking of 'moving out' because the  downstairs neighbor (who is also a renting tenant) had been for some time smoking "Medical Marijuana" in the downstairs unit. (My tenant had asked the downstairs tenant to stop. They had a verbal confrontation about it.)

***Just to clarify: this is a condo I own within a condo complex. I don't own the downstairs unit. ***



Anyway, he did tell me he complained to the HOA; and, they told him there was nothing they could do.

After being informed about this, I went and complained to the HOA, too!  And, they responded the same.

Then I threatened a lawsuit against them; they were like, okay!

Later, about a week or so ago, while golfing with my attorney friend, I asked him if I needed to retain him to help me with this situation.

He completely understood my problem because he represents other HOA's -- and they are struggling with the same problem, he said.

He told me to wait until my tenant actually moved out; and I started trying to find another tenant.  He said, once that happens, he would then begin to help me.

As we talked, he informed me that the 'new' Nevada Regulation authorizing 'Medical Marijuana" is weakly written.

He said that it does allow persons to smoke in the privacy of their own home -- as long as it doesn't interfere with their neighbor's "Quiet Enjoyment."



He said there has to be an actual case 'of loss' filed in the courts before a judge would be willing to sit and listen to this.

(I have no idea what that means, but since he's knowledgeable about the legalese of Nevada Real Estate, I'll go with it.)

In the meantime, I wait with anticipation as to my tenant's decision.

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, June 12, 2017

Las Vegas Gaming Property Acquisition Do's and Don'ts

It's that time again where potential Las Vegas Gaming Properties -- may or may not be available for sale.  And, I (feel as if I) have to remind ALL potential 'investors' that you simply can NOT expect the owners to be 'dumb.'

Not going to happen!

And, YES! Because I live and work in Las Vegas. I do know of several "gaming properties" that are for sale -- but the owners will NOT state (or allow me to state) that publicly.

Yes.  There is a large parcel for sale that is listed -- but you don't want to buy that parcel because you will only receive slightly less than half of the total acreage fee simple.  The owner of the 'other (slightly larger) half is never going to sell.

How do I know this?  Simple: I know the owners.

Anyway, when I give you a price of a property; and I tell you that's the sale price, you can -- but it's not going to happen -- try to reduce that price it by saying the financials don't support that price.

In most Las Vegas gaming zoned property cases, the financials will never, ever support the selling price.

So, please take my word for it.  The price I give you is the selling price.

Okay?



The reason I stress this is you have to remember that the current owners of these gaming properties know the value of their land.  If the property is worth more as a tear-down, they already know that.
If the property is worth more via the financial statement, they know that, too!

So, if you are in the market for a gaming property in Las Vegas, be ready to acquire it at the stated market price!

The time for acquiring a gaming property as in a buy and flip, is gone.
In the reality of today's Las Vegas, the price of the property is the price!

And, unless you are going to buy and tear down, I suggest you stay on the sidelines.

An example of the last major company to come to Las Vegas, buy a gaming property at a rock bottom price, and trying to just paint and carpet to turn it around is failing miserably.

Of course, at that time they were saying just how proud they were to have been able to acquire the properties for below market value.  But, when they didn't do anything more than paint & carpet, the sophisticated casino patron moved on to another resort property.

The casino properties they acquired were at or very near foreclosure; They paid pennies on the dollar and tried to run them 'As Is' just as cheaply.

The end result speaks volumes about this approach.

And, all the while, they continued to lose market share because of their cheaper than cheap corporate attitude.

How do I know, you ask?  I live and work in Las Vegas, NV!

So, do you want honesty and a true to life assessment of the potential properties in question? If you do, then click the Las Vegas Casino Information Button in the right column, print, fill out with your company's signatory signing it, and email it back to me.

I need this form back BEFORE I release any information about any property to you that I know might be for sale.

Otherwise, Have a Great Day!

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!

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!

Sunday, May 21, 2017

Qatar quietly becomes one of New York's Largest CRE Owners

Even before 9-11, I never thought that anyone who was a Muslim; or some one who was Islamic was a bad person.



And, back then, before that awful day, I used to frequent a sandwich shop that was owned by a Muslim man who was a very, nice and pleasant person.  He seemed to always be glad to see me.

When I'd enter his business, he was friendly and accommodating -- well as any businessman is supposed to be.  And, during the time we met at his lunch counter to order my "usual,' we'd have 'small talk' about life in the big city of Las Vegas.

Toward the end of our 'lunch meet,' he would complain about his immigration status, and how his visa was soon to expire and how he had exhausted all attempts to extend it, etc.  As he was going through this, I sensed his frustration with America and his resentment toward 'having to leave.'

IMAO: US Immigration laws need to be updated/changed to allow longer stays/allow visa holders to apply for citizenship easier.

Anyway, I saw this article and started wondering about 'Al.'  It's been close to twenty years now and wondered what has happened to him.

He was a young guy and smart and polite and to this day, I still don't fully understand the Islamic or Muslim religion.  But, I don't think of it as bad.  I think of it as something I need to explore -- maybe even familiarize myself with in order to fully comprehend it.

That aside, when i saw this news story, I also thought about: Why do foreign companies buy American Commercial Real Estate? I am fully aware real estate will have an intrinsic value increase as it floats through time.  But, foreign buyers they are buying because -- for the most part -- our tax system is very, very favorable when compared to the rest of the world.

Which makes me think: If the US taxes are so high, and so unfair, why are foreign companies pursuing US Real Estate so much?

Here is the story I read that made me think this.

Qatar One of New York City's largest CRE Owner

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!

Saturday, May 13, 2017

We need a marketing push!

Very recently, a 'person' (I don't want to give my hand away too early on this topic) that works at a major bank in the US, emailed me asking me if I'd be willing to go to lunch with them.

We set up a time and a place.  I dressed casually because I know this person and thought it appropriate.

At lunch, we 'caught up.'  Their children, my children...you get the drift.

Then, toward the middle of our lunch, this person asked me if it would be okay if they referred me to the bank's area asset manager.

I was a little surprised because I know that this bank uses a national real estate firm to list and sell their bank owned property.

Of course, I agreed by saying, "I Love Referrals!"  Etc. Etc.

Well, as it turns out, the person I was meeting with had invited the bank's area asset manager to lunch with us, but that person had another appointment.  Okay.  That's fine.

Anyway, I was told that the bank 'bosses' are NOT happy with how their bank owned assets are being marketed.  Or, better -- not being marketed.

In case you didn't know, there are bank regulations that prohibit banks from becoming landlords of properties they foreclosed upon.  And, there is a sense of urgency from this person, that I got, that "the bank needs a marketing push" to move property and fast.

Now, that doesn't mean cheaply.  The banks do have to recoup more than enough money from the sale of the properties to save face with banking regulators.

Anyway, I said I was more than happy to meet with whomever they needed me to meet with.  I was willing to travel to where they were to discuss my abilities to market what ever properties they entrusted me with 'marketing.'

They said it might just be a trial run to see if someone NOT affiliated with a national real estate firm would have better success at selling properties.

I told them, 'I'm in.'

So, we'll see what happens in the coming months!

It was a very good lunch.

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, May 1, 2017

Small Casino For Sale in Nevada!

I've had my web site for some time now.

But, it wasn't until recently, that my web site, actually provided a lead for a casino for sale!

And, this happened in the last two weeks.

So, now, I can honestly say, I have a 'Small Nevada Casino Motel' For Sale!

This property is small relative to any of the Las Vegas mega resorts.  But, it is a stepping stone in the right direction for an entrepreneur looking to venture into the gaming business.

With the assortment or variety of any number of small restaurants, bars, taverns, sports bars -- all with gaming -- that are for sale, this property will allow an owner-operator to actual 'own' a "Casino."  (It does also have motel rooms.)

(This is NOT the Casino that's For Sale)

The owner of this property tells me he wants to sell because he wants to 'get out of the casino business.'

I'd tell you more about this property, but because a Nevada Casino license takes a certain type of person that needs to be approved by the Nevada Gaming Control Board, I think you should email me  your qualifying information prior to any disclosure of any property particulars.

Yes, it is going to run you in the millions of dollars.

So, if you think you'll qualify for a gaming license...

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, April 25, 2017

The Real Estate Broker Conductor Dance

Dancing.

Not a favorite pastime for me.

When I was younger, I danced - well I thought I was dancing.  It might have been a sloppy swaying  or obnoxious gyration of my body.  But, I thought I was dancing.  Even if others didn't see the magic in my artful moves.

Lately, with commercial real estate (CRE) values in Las Vegas returning to their slow progression of increasing in value, I thought that Buyers would suddenly realize that the steals are gone and the Sellers would realize that they are NOT holding gold in their lands.

Oh, well.  I can only hope that the coming of the future tells them the truth -- even if Buyers want to ignore recent sales; and Sellers try to use non-comparable properties to justify an unrealistic value.

But, what hasn't changed in the 20 plus years while working CRE in Las Vegas is the dance.

Yes, the Buyer/Seller dance that starts with either the Seller or the Buyer -- it doesn't matter who starts dancing.  As long as one party or the other finds the property attractive enough that one or the other begins a dialog which might result in a potential sale.  That's what us Real Estate Brokers want to occur.

Usually, the Buyer finds a property of interest to them; then the Seller plays the hard to get game; followed by Buyer changes the viewing/walking the property time; then, the Seller fights back with  'we need to know certain Buyer qualification conditions in order to move forward;' which the Buyer then will flash their qualifications; which the Seller refuses to accept or budge.
You get the picture!

And us frustrated Real Estate Brokers are the ones who end up playing conductor.
We would be in charge of the Buyer/Seller orchestra as it plays.  All we can do is to keep trying our best and to keep up and (pretend maybe) to be fully in charge of this crazy scenario.

Now, you will have to trust me on this.  I am fully capable and experienced in helping anyone acquire a CRE property; or help a Buyer or Seller close a real estate sale -- but it is essential that the Buyer/Seller parties co-operate.

And, that is the key.

As the conductor of this musical chair scenario, it's my job to help the parties find the common ground.  Which is ground we all can stand on with two feet solidly on a firm surface.

But, as this dance is playing out, inside I am thinking: "Holy (insert your favorite word) !!!

My weary feet usually don't find the rest they need until the Escrow is closed and the property officially transfers -- changing ownership via Recording at the County.

So, you ready to dance?

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, April 17, 2017

Real Estate Commission: Is it a Representation Fee OR Marketing Fee?

Around the first of the year, I started seeing properties listed For Sale with "Price NOT Disclosed."

Now, it's one thing to try and keep the sale of a Commercial Real Estate property quiet.  It's another to know what a property is actually worth and list it for sale at that price.

First: Keeping the For Sale aspect quiet usually means the Owner/Seller doesn't want to lose Tenants IF the Tenant finds out the Owner no longer wants to own a specific property.

But, to list a property For sale and NOT have a set selling price in mind, to me, means the Owner/Seller doesn't know what his property is truly worth.  And, for that matter, neither does the Listing Broker.

And when a Listing Broker accepts such a listing, they actually are doing a disservice to us fellow Real Estate Brokers.

Second: the Owner/Seller/Broker compounds the selling problem with the little known and rarely seldom used: "Buyer to Pay Procuring Broker's fee."

C'mon, really?



Recently, I discussed this with another Real Estate Broker.  He said that if the Owner/Seller is trying to maximize his selling price/value, he needs to make the Selling Price open for interpretation. Meaning, he wants a bidding war.

The problem with that is that unless you have a well located property and it is in a high demand area, you are NOT going to garner top dollar.

And if you think going the auction route is going to get you top dollar, think again.  Most auction participants are looking for a steal.  And, I mean a real bottom dollar type of steal.

Then, on top of that, the Owner/Seller doesn't think they should pay a fee to a Procuring Broker who is representing a Buyer.

Wait a minute!  Why not?

Yes, it is widely known throughout the real estate industry that representing the Buyer is NOT a legal representation.  So, why would an Owner/Seller refuse to do so -- when it is common practice throughout the world.

Plus, when a Broker is helping a Buyer procure a property, yes they have a fiduciary duty to deal with the Buyer in an honest and forthright manner.  But, there is no legal representation.  Real Estate Agents/Brokers are NOT Attorneys.  They don't specialize in law.

They specialize in marketing.  So, when  Buyer's Broker brings a Buyer to a property, the Owner/Seller is (usually) paying the Brokers Listing and Selling a fee -- which they usually split 50%/50% for marketing the property.

So when recently, I've run into this scenario where the Owner/Seller believes that he is only entitled to paying a Listing Broker, I then know that the Owner/Seller doesn't understand the real estate commission fee situation-standard.

What to do?

I think that more Real Estate Brokers need to understand that fact to and stick to the normal real estate commission fee practice in their area of operation.

Hey, I didn't start the practice of the Owner/Seller paying a real estate commission that's split between two brokerages; I would just like to be compensated for helping an Owner/Seller sell their property through my marketing expertise.

Your Thoughts?

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!

Friday, April 7, 2017

'Hypothetical' Market Value!?

In my years as a Licensed Real Estate Broker, I think I can smell a rat when I come upon a rat.

This is just a revelation of a recent event that took place here in Las Vegas, NV.

A fairly new client is searching for a particular property.  He's young yet has some experience.  He has a particular Acquisition Criteria that to me makes sense.

He is searching for this property type in the $10 to $30 Million range; must NOT be older than 1990; and must be fairly well taken care of (preventive maintenance wise).

Okay, not too many properties fit this; but i am willing to "search" for that type of property given the anticipated fee I would receive upon the close of a sale.

Anyway, with that said, I found a property that fit.



The current owner had acquired the property out of foreclosure and had marketed the property to re-sell.

The problem was/is, the current owner thinks his property can be converted to a resort casino.

(Just so every reader knows, just because you own a property in Las Vegas doesn't mean you can have an Unrestricted Gaming License to operate a casino on your land.)

So, I found the property, negotiated a fee and signed the appropriate agreements to proceed with 'selling' this current owners property.

As the information about the property was received in my Inbox, I perused it and was amused at the verbiage while reading the appraisal.

Digging into it further, I re-read the appraisal and was concerned at the verbiage: Hypothetical Market Value.

Now, as everyone who has ever acquired a property -- most of you might have bought a house -- knows, that the appraisal sets a market value for a property -- usually for the lender's purpose of financing the purchase.

So, when I read the words: Hypothetical Market Value in this current owners paperwork I knew that the appraisal wasn't going to be able to be used for any financing.  And, it would never pass a review appraisal process.  I had a good chuckle.

I called my client and asked if he had noticed that.  He did.  But, he wasn't using that as a basis of value.  He was using the current owner's financials for the property and he determined that the property was worth about half what the current owner was asking.

I had to agree.

Well, I emailed the current owner and told him my and the client's concern about the value.

Even though the property was located on Las Vegas Blvd, it was no where even close to being on the "World Famous Las Vegas Strip!"

And even though the zoning was H-1 -- and there was a resort casino nearby -- obtaining an Unrestricted gaming License on this property was going to be difficult at best.

(FYI: Most resort casinos don't share a property line with a SFR residential neighborhood.  Check that out the next time you are in Las Vegas for a visit.)

Bottom-line here is: Just because you own a Las Vegas real estate property, and just because their street address contains Las Vegas Blvd, that doesn't mean the property is valued at or even worth $10 Million an acre.

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, March 20, 2017

How Do You Make Money Living In Las Vegas?

Not too many people ask me this question.

Most family members and friends understand that I am not too tempted by gambling.  Oh, sure, once in a while I will play $21 in Megabucks.  And I have driven a handful of times to Prim or even to Arizona to purchase a Power-ball ticket.

Yes, those, in retrospect have been such a waste of time and money.

But since the most money that I have ever won at gambling is $150 dollars, I quickly cashed out and put that ticket in my pocket. (I guess I'm cheap like that.)

Anyway, since it isn't a well-known fact, that the average Las Vegas resident gambles +/-$2,000 per month while living here, I like being the one that doesn't gamble at all -- or truthfully anywhere near that amount.

When I first moved here and was searching for a Real Estate firm to hang my Nevada Real Estate License, I had one meeting with a broker at the time who knew just what to do when the subject about real estate commissions came up"

He asked me: 'How do you make money in Las Vegas?'

Stumped, I gave the standard response of: work hard, be persistent, etc.

He said, in his experience, he has seen way too many real estate agents take a hard earned commission check down to a local casino, cash it, and by the time they leave (usually several hours later) they have nothing left.

He took a piece of paper (like below) and wrote the word Casino in the middle, he circled the word for emphasis.

Then, looking at me with earnest intent, he said, "Stay out of the casinos!'

Well, I took that as probably the best advice I had ever heard.  For one thing, I don't like the 'Strip' casinos because they are well, you know, greedy.  And, the noise and crowd isn't something I am attracted to.

Besides, once I moved to Las Vegas I found out for the first time that a casino would be willing to cash a pay check -- without taking the usual 15% that check cashing places take.

I told the broker, that I have a young family and cashing a real estate commission check at a casino wasn't something I was going to do.

I remember him saying something like, 'I hope not.'

It was apparent, that this broker knew too many agents that did that.

Eventually, I hung my license at a firm closer to where I was living at the time, and through the years, I have learned that agents do -- for whatever reason -- gamble away their commission checks.

To me that is probably the dumbest thing you can do.  The reason I know this to be true is: only one person makes money in a casino -- the owner.

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, March 9, 2017

Simply for the Benefit of Building a Hotel in Moscow

With the "surprise" results of the 2016 Presidential Election, I don't think - looking back -- anything would have changed,

Trump made promises that, at the time, I knew he wasn't going to keep.

"Make America Great Again!" Great slogan!

But his promises to the 'non college educated' will ring hollow.  Several news agencies who have had sit down talks with these former factory workers who voted for Trump simply because they felt he was "one of the union guys."  He is going to bring our jobs back, they say.

LOL!

Trump a union guy?  You have to be kidding me!  Bring jobs back?  My question to these former factory workers is: Are you that uninformed?

+/-60% of all jobs lost since 1979 have been to automation!  Those jobs are NOT returning to human workers!  Never, Ever.

And the guy who you think of as a 'Union Guy,' actually refused to pay the union workers when they did work on his bankrupt casinos!  I don't think of Trump as a union guy.  Never will!

So, don't get me started.

And, with the Trump White House calling the media the "enemy of the state" simply because the news media has dug up information revealing Trump (and/or members of his team) have had constant contact with Russian officials throughout the 2016 campaign, that actually bothers me more than it should.

Apparently, Trump is more than desperate to (allegedly) build a luxury hotel in Moscow.  This is the only thing I can think of that would make him as a patriotic American turn his back on his country, his countries allies, and destroy the America way of life as Trump seems to be (allegedly) doing.

This article is one of the best at explaining the Trump Putin connection situation.

Trump Ties to Russia


I will let you decide whether or not Trump is 'unpatriotic.'

But, wanting to build a hotel in Moscow must be worth more than we can imagine for Trump to put together such a diverse team who all have such close ties to Russia, Russian officials, and Putin.

For one thing, World War II should have taught us that if Europe is divided into individual Republics, it is easier for a more powerful nation to knock them down, one by one, like dominoes.  This is because the neighboring Republics don't want the more powerful nation attacking them.  But, as history has shown, the powerful nation usually attacks without provocation anyway.  (See Germany circa 1939)

But, as a union of united European nations, if the powerful nation attacks one; then, they have attack them all.

And, Putin understands this.  He is all for European Republics being separate nations.
This makes me think that Putin (allegedly) even wants the United States to be 50 individual nations.  You are capable of doing the math.

Also, it is reported that in order to do business in Russia, Putin (allegedly) demands a large portion of that business so he will allow you to do business in Russia.  And, (also allegedly) it has to be given to him.

Just ask any of the Russian Billionaires who refused Putin.  There are stories of them being thrown in prison until they agreed.  (And sadly, some stories say they have even have been killed.)

Its a sad, sad world we live in right now.  Enemies are pretending to be friends; a President is pretending he can lead, and the White House Staff is squirting out the fake news insult phrases when the media contradicts Trump.

I don't know about you, but I find this absolutely annoying.  All it is doing, is helping to divide the United States into the Confederate States once again.

If only the GOP controlled Congress would stand up to the bully at the pulpit.  They could nip this in the butt and right the ship.

So, I ask: Is Donald Trump truly that unpatriotic that he would lead Americans to their demise -- simply for the benefit of building a hotel in Moscow?

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!