Small Casinos for Sale in Las Vegas!

When some of you search for a Las Vegas Casino, you have come upon my web site. What a lot of you don't know about casinos is that you as a principal must be qualified by the Nevada Gaming Control Board to even own a Nevada gaming property.

And, this concerns me when I see that my web site has been popping up on searches for 'Small Casinos For Sale in Las Vegas,' because, most of you potential gaming property owners will NOT qualify to even own a casino property here in Nevada.

Now, there are a variety of small restaurants, bars, taverns, sports bars in and around the Las Vegas Valley -- all with gaming -- that are for sale. However, there is only one actual small "casino" that I know of that is truly For Sale in Las Vegas.

As most of you are aware of, the true "casino" properties are on the "Strip" and in Downtown Las Vegas.  There are several "local" casinos in outlying neighborhoods, but these are owned and controlled by large local casino companies. And the small local casinos -- not on the "Strip" -- will still advertise themselves as a casino because they do have slot machines. And, they will call themselves casinos when in actuality, they are legally known as "taverns."  These only have "restricted gaming licenses."

However, I do know of a local "grandfathered casino" property that has an "unrestricted gaming license" where the owner will sell, but his sell price is $5 Million!  It is a +/-5,000 SF building, on a +/-1.35 acre lot.  It is just off a major freeway and located on a high traffic street. It is surrounded by national credit tenants, multiple roof tops and Class A type Office buildings.

So, there is everything about this property that needs to be disclosed.  Any further information requires a Non-Cir Agreement which is located under the Las Vegas Casino Information Button on the right side of this page.

And, the price is the price. According to the owner the price is: "Not Negotiable!"
And, whether you agree or not, you must disclose your financial capability to even receive the property's financials.  And, the owner says: His business' financials are what they are and he will NOT argue that the property is worth less than his Selling Price. OR, whether or not the appraisal MAY or MAY NOT justify the selling price.  The price is the price.

WHY? (you may ask.) It is because this location has the "Grandfathered Unrestricted Gaming License." Which means to the untrained eye, that you can have table games (blackjack, roulette, craps, poker) and the local government body is no longer giving "unrestricted gaming licenses" out any more; AND, any alteration to the existing property will require upgrading to the "new" codes. Thus, elimination of the "grandfathered licensing status forever.

So,...want more information? As i mentioned above, click on the Las Vegas Casino Information button, print out the Non Circumvent Agreement, sign and email it back to me. Then, I will send you the property information.

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

"If you want to make Money in Las Vegas, Stay Out of the Casinos!"

And he is correct.

Years ago, when I first moved to Las Vegas, a met with a broker who owned a local real estate firm. It was NOT affiliated with any national chains or franchises.  It was strictly a local company.

As we talked and I was trying to make up my mind about where to hang my Nevada Real Estate broker's license, we were discussing the topic on visiting the casinos. During the discussion, he brought up the fact that too many real estate agents would cash their commission checks at the casinos and walk away from their adventurous gambling spree broke once again.

And, to emphasize his point, he wrote the word casino on a letter size pad.  He then circled it while asking the question: "How do you make money in Las Vegas?"  He paused for a second to let me absorb the effect.  I was stunned and confused.  I was brand new to Las Vegas and the city still had the allure of gambling riches in my mind.  (This is the mind set of the majority of Tourists who visit here.)

I remember starting to mumble something, but he cut me off with the answer: "If you want to make money of Las Vegas, you stay out of the casinos!"*  He then struck a line right through the circle as in the international Do Not Enter Sign!

Point taken.

This is when I first heard the fact that the casinos are NOT built on winner's money.  The only entity that wins is the casino owner(s).

I have remembered that ever since.  And, because I have that thought deeply in-bedded in my mind, I have learned to ignore the casino allure.

However, there is money to be made in Las Vegas.  It might be a real estate property where you are only earning a 6% Cap Rate, but you are more likely to make money on that, than gambling.

A former casino manager (for 30 years) I have become friends with, attested to the fact that only the casino wins at gambling -- every time.  He told me one time that poker -- as in the World Series of Poker No Limit Texas hold em tournament, is 95% luck.

He said that the most successful poker players are just able to win 51% of the time.  Sure, that one time is a million dollar jackpot.  But, most are behind on their bills most of the time -- he said.

So, are you still thinking of coming to Las Vegas to gamble?  As I have stated above, the best gamble in Las Vegas right now is Commercial Real Estate (CRE).

Sure, the Return on Investment might be marginal as in a low Cap Rate, but IF the tenant is a National Credit Tenant, your winnings will still be greater then at the casino.

*This applies only to those NOT qualified to BUY a casino.  IF you can BUY a casino, then, you would more likely to be dealt the winning hand.

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

Happy Holidays! And a Profitable New Year to You!!!!

Happy Holidays! to ALL and let's all have a profitable New Year!

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

HAPPY THANKSGIVING TO ALL!

I just want to wish ALL my blog followers a Happy Thanksgiving!
It is one of the better American Holidays the entire world can enjoy!

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

Another Celebrity-Athlete goes bankrupt!

Okay.  This is slightly different than a story of Not investing properly or making bad investments.

This is a direct result of Not realizing that those close to you can make very bad decisions when they have access to or you have given them large sums of money.

Unfortunately for Jack Johnson, his parents were the ones with little or no investment knowledge or sense.  AND, the fact that Jack had a large sum of money and they had access to it and spent foolishly, he now finds himself in bankruptcy.

(Copy and paste in your browser to read.)
http://www.si.com/nhl/2014/11/20/jack-Johnson-bankruptcy-sad-but-common-story-for-athletes

IF Jack had only given them Income instead of access to his money directly, he would be in a better financial position today.

Advice to me years ago, still stands today.  IF you want to do something for your family money wise, then give them income, DO NOT EVER give a Lump Sum and NEVER give them control over your bank accounts.

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

Commercial Real Estate 101: Net Leased Investment Formula UPDATE!

Every so often, I begin to wonder what else I should post about.  Then, as I run through past postings, I run across a post that in truth could be re-posted without any redundancy.

Anyway, below is a past post that still rings true for today!

Please enjoy!

Have you ever thought that maybe you were all alone in a situation; you definitely needed help; but, you were too timid to ask because you feared you would be embarrassing yourself for NOT knowing simple information?

It's at those moments you need to remind yourself of the old saying: There is never a stupid question! Especially when it comes to Commercial Real Estate (CRE).

So, in order to resolve any anxiety for those new to the CRE world, I present to you (below) information that is absolutely necessary for calculating annual income from a marketed Net Leased Investment Property that you may be considering acquiring for the annual income.

About a year ago, I laid out in this blog about how to calculate net income from a Net Lease.

A lot of you are lay people and this sounds foreign because it is an area of real estate you do NOT usually get into in your daily lives.

Now net income is also known as passive income.  It's the type of income you earn monthly or quarterly as a dividend or investment. The good thing about this is: You only pay a smaller amount in Income Tax on this earned money.  AND, you do NOT pay social security or other IRS types of tax.  ***Please check with you Tax Professional to verify this!!***

So, the main goal of this formula is to allow you as a Buyer (Investor) to predetermine the (estimated) annual net income (the rent you receive) from a Net Leased Property that is being marketed either by a Sales Price or a Cap Rate.

Usually, the marketing entity for the property will only disclose what the Listing or Asking Price is; and they will state that, that List or Asking Price is a certain Percentage of Return on the Investment (ROI); or, as it is better known as: Capitalization Rate (Cap Rate).

Now, from just these two disclosures, you -- as the lay person -- will be able to get an idea of just what the (estimated) annual income should be and whether or not the acquisition of this net leased property will "fit" your investment income needs -- or not.

The formula goes like this:

Sales Price times Cap Rate equals Annual Income.  (SP x CR = AI)

For example: $1,970,000 x 8.79% = $173,163.00+/-.

And once you have the estimated Annual Investment Income from the Asking or Sales Price plus the additional disclosed Cap Rate, you can figure out your Sales Price by dividing the Annual Income by a Cap Rate you desire to acquire the property at; OR by a Sales Price you deem as a fair market value.

You take the Annual Income you figured by the formula, and divide by the Sales Price you feel is a fair price or by the Cap Rate that you want as an ROI. 

Either way, you can figure out from just two disclosed items the third item in such as you can for the Physics Traveling Formula: Rate times Time equals Distance (RxT=D).

So, this is just a basic formula.  The Actual Annual Income should be disclosed in the current owners Financial Statements kept for this particular investment property. AND, during due diligence it is absolutely necessary to review those statements carefully when considering the acquisition of a Net Leased Property.  And, most Sellers will NOT disclose actual financials unless there is an accepted offer and escrow has been opened.

So, hopefully, this will help most of you who are not that experienced in acquiring income producing properties.  And, hopefully, you will be at ease when considering the next step in actually making a purchase move in that direction.

Now, you can take a look at property information in a different light. Get some property information and try the formula out to see if you can calculate an offer price or a price that would enable you to acquire a property at a specific Cap Rate!

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

Fontainebleau Resort Las Vegas!

About a week ago, I wrote a Purchase and Sales Agreement for the Las Vegas Fontainebleau.

Since last Friday, eight days ago, the company's board has been meeting, to discuss the merits of whether acquiring this property would be beneficial to their company.

Since then, the President/CEO of the company and I have emailed each other with answers to the board members' questions.

Hopefully, I answered their questions which will make them want to proceed with the acquisition.

Now, I am sitting on pins and needles awaiting the board's decision whether they will authorize the president/CEO to submit the offer I wrote for them.

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

Attention! Athletes & Celebrities! CRE can secure your future, too!

Recently, there was an article about Roger Staubach, Hall of Fame Quarterback who helped the Dallas Cowboys win Super Bowls back in the 1970's!

Now, I do know a little bit about Roger personally. I remember him as a very good Quarterback who made a good living during his Hall of Fame laden career.

And, I knew Roger had invested in Real Estate early in his career and made a name for himself as an outstanding real estate broker. What he is known for today is being a very successful broker who built a company from scratch and sold it for millions a few years back. He did NOT strive for an extravagant, a high flying lifestyle, because he knew that living that way would require him to continue earning a certain level of monthly income that he knew he could NOT maintain.

However, he probably did receive great financial advice early on, which allowed him to maintain his income; or, he refused to believe that his current level of income would ever stay the same. Either way, he set out to secure his future, his future income by acquiring multiple income avenues that were available, and, he planned for the future.

And, with today's athletes and celebrities earning much high incomes then Roger ever did, they will in the short future be completely without any money because of their desire to impress and show off. rather than be impressive with how they are able to handle their current high income.

Now, I must admit that this excessive spending of their income confuses me. And, I am afraid, they don't have the appropriate knowledge or sound advice that would keep their financial portfolio diverse and retain the necessary income that commercial real estate investments will help to keep them solvent into the unknown future.

And, one of those investments -- which I think is one of the best -- is a Net Lease Investment.

With a net leased investment, you will continue to earn income on a monthly basis because as long as you have a National or Regional Credit Tenant, this monthly income will continue and just one net leased property could have paid for a whole lot of things that could extend well into the future.

And, most importantly, these income properties could be used to maintain your monthly expenses -- unless you foolishly buy that overpriced mansion that will suck your money right out of your pockets.

IF you are foolish enough to think that regardless of what might happen to you in the future, you must realize that you will experience time where you could be wiped out immediately from a sports related career ending injury: or even IF you think you would never be involved in a serious life-altering car accident; or that you are immune to a major film or TV flop that you are currently involved with -- think again

Being a celebrity now means you need to securing your future income with a sound Net Leased Commercial Real Estate Investment, is just a simple step away!  Call me to help you earn future income.

Athletic and Hollywood careers have one thing in common: they are DEAD END jobs! Very few are fortune enough to continue to earn the explosive amount of income that is necessary to maintain your lifestyle as you grow older into the future.

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