Showing posts with label Strip!. Show all posts
Showing posts with label Strip!. Show all posts

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!

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, 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, October 3, 2016

Snake Oil Salesmen!

There are real estate agents in Las Vegas, NV that I truly don't want to work with. (Sorry about ending a sentence with a preposition.)

The reason is: I don't understand these agents obsession with wanting/having to double end every deal (List and Sell) that they have.  I love double ending deals, too.  But, if another agent has a qualified buyer, there's no skin off my nose to split the commission.

And, their mentality about this element is very, very annoying.

You call them to ask a question about one of their properties; and they never, ever take your call, return your call, nor even reply to an email.

(Now, I want to out these agents! I truly do.  Yet, in the future, I will have to have some form of transaction with them (hopefully, not) but they are here and don't seem to be going away anytime too soon.)

Recently, I was talking to a group of attorneys who own a building where the three are partners in the building where they also have their offices located.  One is moving on -- as in being kicked out of being an attorney (it happens); one is going on a mission (retiring); and the third wants another (better) location.

Anyway, I made a pitch for the listing and told them that I thought their building would sell at around $183 PSF!  Good price given the fact that the last ten years worth of real estate foreclosures really drove prices way down.

Yet, when I was done with my presentation, one of the attorney partners boldly stated that I had used the wrong comparable sales!

Say what?

He said another broker (actually the other broker is an agent) had told them that he could sell their building at $215 PSF.

I was like, really?  The partner attorney said that the broker (the other agent) had better comps.

I reiterated that I had used the best comparable sales within their zip code and all the zip codes around them.

I asked which comp specially did he use to use as in like to like properties?  The partner attorney said the address.  I was stunned.  Apparently, the other broker (agent), had used an ambulatory building (an urgent care facility) as the best like property to their subject basic office building.

Now, the finishes in the subject property are upgraded; there is marble flooring in the entry -- and along the carpeted halls; there is wood trim everywhere with an upgraded reception desk, too.

But, since the ambulatory building sold six months ago to an investment group buying the property as a NNN investment, sure, the price PSF is going to be higher, but: IT'S NOT A COMP!

It's not a like for like property.  It is a completely different building and use.  And, the zoning is heavy retail.  (They are in a Professional Office Park.)

And, I reiterated all of this to the group in the hopes of dis-swaying them, yet I got the feeling they were NOT impressed.  They had been SOLD by the other agent.

Anyway, long story short -- I didn't get the listing.

After returning to my office, I was re-telling my adventure to one of my two agents.  After, the retelling, she stated: Snake Oil Sales Men!  She knows the agent to whom I am referring to.

I could only agree.  Yet, I told her, there are three attorneys and if something goes wrong during the listing, at least I won't be the one facing 3 angry lawyers with the capability to sue.

God, I want to disclose this company's name.  No, I better not.

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

Tuesday, July 12, 2016

Real Estate Mortgage Payoff - Part II

About a week ago, I posted that I wanted to pay-off my equity line turned second mortgage.
And, I want to do it by negotiating a smaller payoff deal.  Since Shellpoint Mortgage acquired my loan at a discount, I wanted to share in that discount.

They originally sent me a full pay off timetable.  But, since they seem to NOT understand what I am asking, I made a counter offer.  Since, they have not responded.

Anyway, I had to emailed them through their website since their telemarketers are NOT knowledgeable about the loan business; and they truly have no authority when it comes to real mortgage questions.

Anyway, my counter was met with the response that their Loan Services Personnel are NOT allowed to contact debtors directly.

Say, what?!

All I want to do is to write a check -- or set up a wire transfer -- for a final payment that we can negotiate fairly.  I know that there is an acceptable amount to both parties other than the full loan amount that I owe.

I think it's only fair since they acquired my loan at a discount -- most likely 25% of the loan amount owed.

How do I know I can do this?

Well, you see -- most of my clients are in the real estate investment business.  They acquire a lot of their property from said lenders who have "bad loans." My clients buy these loans and then foreclose on the property.  And, they buy these loans at a discount.

And, since late 2008, this has been happening all over the US.

Anyway, I saw this article about home owners equity and how people are NOT taking equity out of their homes (smart) and thought it interesting.  (It's been ten years since I did that and now wish I hadn't.)

http://www.cnbc.com/2016/07/12/owners-could-pull-another-260-billion-out-of-their-homes--heres-why-they-arent.html

Hopefully, Shellpoint will get their heads out of their derrieres and give me a call.

Please enjoy!


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

Tuesday, July 5, 2016

Trump's Ignorance of International Trade Just Cost Me Another Potential Transaction!

It has become a theme that won't go away.

And the reason it won't go away is that most White middle-aged American Republicans are prime for Donald Trump's hateful, bullying rhetoric.

They swallow his message without even giving it a second thought.

For your information, China has NOT raped America!

China didn't twist any arms; China didn't even do anything illegal.  They just had a large pool of people willing to work cheaper than American workers were.

So, if anyone is to blame for China becoming the world leader in manufacturing, it is: wait for it: White, Middle-aged American Republicans!

Too close to home to place the blame?

Oh, well.  If Americans were more willing to work at less money, then the CEO's wouldn't have moved the jobs to China.

And, Congress is also responsible for this debacle.  They reduced the import tax/fees on goods manufactured outside the US.  This was done so White Middle-aged Americans could buy the cheaply made Chinese goods at low, low prices, too!

So, don't like China having all those Jobs?  Well, you know what you have to do to get them back, right?

Unfortunately, that is not going to happen.  Americans won't work for almost free.  And, Americans do care about the air they breathe -- even though they say they don't like the EPA regulations; and, obviously, they care about the water they drink; and the food they eat.

So, Mr Trump, insulting China is idiocy.  Bullying other presidential candidates can be viewed as one thing; but bullying an entire nation or a major religious faction is NOT presidential.

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






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

Thursday, June 23, 2016

Is the Las Vegas CRE Market Going South?!

Had lunch with the retired gaming executive that I have come to know by living and working here in Las Vegas, NV.

At lunch, he said that he had heard that one of the national real estate firms located in Las Vegas, NV could be closing it's doors before the end of the year.

Now, he did say which one; but, for the sake of NOT spreading rumors -- at least until I can verify this information -- I will just let that simmer.

This information was told to him by an agent he knows that works at that very office.  And, she also said that they have only closed three sales or escrows this year since January, 2016.

And, because they are in the prestigious high end office with their monthly rent so high, the agent told him that she was leaving and was going to get out of the real estate business altogether.

Now, a day later, I attended a mixer that a major national bank held.  When I arrived -- fashionably late -- I saw that there were only maybe three or four CRE agents attending.  The rest were all bank employees from various divisions of the sponsoring bank.

As I was greeted by a bank employee I know, I asked her why the CRE agent/broker attendance was so poor?  She embarrassingly said something to the effect that most of the invitees (real estate agents/brokers) were to busy and didn't RSVP.

Oh, really, was my reply.

I then told her about the major CRE company that I had heard only closed three sales this year.  She replied, that she had heard that, too!

So, I wonder.  If a national real estate company -- given that it is a franchise -- can't close sales and maintain their office; I feel so lucky that I have been able to, that I should travel to Prim and stand in 110 degree heat to buy a lottery ticket.

Then, again, I would probably get mauled by a Polar Bear before acquiring the winning ticket. (That seems to be my luck.)

Anyway, I think I will stick to doing what I am doing, because what I do seems to still be able to put sales deals together and close escrows when needed.

And, if it is true that Las Vegas CRE is about to go south -- again -- then, you need to contact me now, so we can put together a game plan for moving forward once this 'new' recession hits us.

I am ready when you are...

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

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

Friday, July 20, 2012

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

This is NOT going to Last!

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 Walmart 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:                         1075 W. Craig Road, North Las Vegas, NV 89032
        Home Depot Anchored Shopping Center Pad

Sale Highlights

•             Safe and Secure Investment:  Tenant has 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 district
•             Adjacent to Revere Marketplace, which is anchored by 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!



Google Earth the site’s address to see the surrounding amenities/properties.


For more Information about Las Vegas Commercial Investment Real Estate Property, contact David Howes at: davidATdavidhowesDOTnet OR 70 25 01 93 88