Tuesday, March 24, 2015

There is still a Small Casino For Sale in Las Vegas, NV!

Recently, my web site has been popping up on searches for 'Small Casinos For Sale in Las Vegas.'

True, there are a variety of small casino properties that are restaurants, bars, taverns, sports bars -- all with gaming -- that are for sale. However, there is only one actual small "Casino" that I know of that is "For Sale" in Las Vegas.

The owner wants $5 Million. It is a +/-5,000 SF building, on a 1.35 acre lot, 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.

And, according to the owner, that is the only information he is willing to disclose without a potential Buyer providing him with their qualifying information e.g. Banks statements, proof of funds, etc.

And, regardless of the business' financials, the price is the price. Not negotiable! No financials are required to verify or argue that the property is worth more or less than his asking price.  OR, that an appraisal MAY or MAY NOT justify the selling price.

WHY? (you may ask.) It is because this location has a "Grandfathered Unrestricted Gaming License." Which means to the untrained eye, that the local municipal government body is no longer giving those out. AND, any alteration to the existing property will require upgrading to the "new" codes. Thus, elimination of the "old" licensing status forever.

So,...IF interested...

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

Saturday, March 21, 2015

My Birthday Horoscope!

Yes.  March 21st is my Birthday.  So, I wondered just what the Stars had in Mind for me today?

"You've got an edge when it comes to financial, legal or medical matters. Focus on what you want to see transpire and make it so. Luck is in your corner, so don't hesitate to ask for what you want. 3 stars"

Okay! What I want is my deal on the Fontainebleau Las Vegas to go into escrow and close!

We'll see if that is in the stars!

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

Thursday, March 5, 2015

While Americans complain about Taxes, Foreign Investors are beating them to the Las Vegas CRE Punch!

Via my web site and other real estate sites that I have subscribe to over the years, I have been approached by many Foreign Investors -- whether Asian or European -- looking for a good investment because as we all know the European and Asian economies are just as bad as ours -- IF not worse!

Most of the Foreign Investors complain about the taxes they have to pay in their respective countries. One Asian investor told me he just wants to get a better value for his money.  He said he has to pay 52% of his gross income as income taxes.  By the way, he says his country doesn't have deductibles.  So, his income tax IS 52% of his income regardless of how the money is earned.

He also said he is surprised at how much Americans complain about their income taxes.  He reiterated that at least we have nice roads and bridges, etc to help get us to where we want to go across the US continent.  AND, he said we can do that (basically) without fear from highway bandits (his words) who prey on travelers.

So, American Investors: Las Vegas does have some very good deals waiting for you to pounce on them.  When Net Leased Investments are going for 4% to 5% Cap Rates in other states, a 6% to 7% Cap Rate in Las Vegas looks pretty darn good.

So, either email or call me to discuss a potential Las Vegas CRE property purchase.

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