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!

A Young Celebrity Who Understands the Value of Commercial Real Estate Investing!

I usually don't name drop.

I think it's beneath me.  It is actually crude and truly uncalled for.

So, I am going to name drop!

1st: I have never met this person
2nd: I have never seen them perform.
3rd: I wasn't involved in this CRE Transaction.

But, I say, 'Good for Claire Sinclair."

I am so happy, that this young woman understands the value of CRE property.  Why do I say that?
It's because she acquired an 8 plex!
Okay, most of you don't know what that is.  In CRE terms, it is short hand for an 8 unit apartment building.

Why am I excited for her?
Because she is taking the chance that this 8 unit apartment building located in or very near Downtown Las Vegas will in the future enable her to earn income as a Bed & Breakfast!

She is taking money she has earned -- and is trying to raise from a social media web site -- to help her complete her desired rehab goal of making the 8 unit apartment property into a BNB!

I think it's great! I think she has her 'smart's on' about money, has a vision of herself in the future and she just might one day be another Mary Bartsas, or even another Margaret Elardi!
(If you don't know who these women are, Google them!)

Here is Robin Leach's article about Claire's quest.

If you are in a similar situation, or have a similar goal, you just need to...

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!

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!