Late last week, I received a call from an "Investor" who called me because he was waiting for a resort property to recommend an agent to him that could help him buy their resort property. Since he was impatient, he found me and gave me a call.
OK, not a bad situation on the outside looking in.
Yet, he admitted that he had already made an offer for a 'Strip' resort property and wanted my expertise to tell him whether or not the price the resort wanted to sell was too much.
He felt it was way too high.
Now, in the past I've received calls like this and they all turned out to be fake buyers.
But, this Investor claimed he had already contacted the resort directly, then called me to get advice on whether the resort was asking too much? I sensed I was talking to a rookie.
Anyway, he wanted to meet today in Las Vegas to discuss his situation.
Since he already contacted the resort directly, I said, OK, but I want 1% paid by you the Buyer to help you!
He asked if I would just accept an hourly fee for giving him an opinion.
I said, 'No!' I retorted , 'If you want my help, you pay me a commission!'
That was the deal killer for him.
Over the weekend, while out to dinner with my wife and family, I mentioned this scenario. My wife agreed with me. If you are an Investor/Buyer, and you want my help acquiring a Las Vegas Resort Property, you call me first!
You then, sign an agreement that if you are successful in buying a resort property, you compensate me for my time and effort.
I did ask which resort he made the offer to? He replied with something about a confidentiality agreement and couldn't disclose it.
I know this is BS!
Most resorts will NOT even accept an offer unless it is at their price and they have fully vetted you.
This Investor, after researching him via Google and another web site I've come to rely on to verify client statements, doesn't appear to be able to complete a multi-million dollar sale.
(I could be wrong, but since I've been down this path before, I'll take my chances.)
My thought first thing this morning is, 'OK, I did kick him to the curb.'
In my time here as a Real Estate Broker in Nevada, I've run into too many want-to-be casino owners barking up the wrong tree who usually end up NOT ever closing any deals at all.
I wish the Investor all the best.
Interested in a Las Vegas CRE property?
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!
OK, not a bad situation on the outside looking in.
Yet, he admitted that he had already made an offer for a 'Strip' resort property and wanted my expertise to tell him whether or not the price the resort wanted to sell was too much.
He felt it was way too high.
Now, in the past I've received calls like this and they all turned out to be fake buyers.
But, this Investor claimed he had already contacted the resort directly, then called me to get advice on whether the resort was asking too much? I sensed I was talking to a rookie.
Anyway, he wanted to meet today in Las Vegas to discuss his situation.
Since he already contacted the resort directly, I said, OK, but I want 1% paid by you the Buyer to help you!
He asked if I would just accept an hourly fee for giving him an opinion.
I said, 'No!' I retorted , 'If you want my help, you pay me a commission!'
That was the deal killer for him.
Over the weekend, while out to dinner with my wife and family, I mentioned this scenario. My wife agreed with me. If you are an Investor/Buyer, and you want my help acquiring a Las Vegas Resort Property, you call me first!
You then, sign an agreement that if you are successful in buying a resort property, you compensate me for my time and effort.
I did ask which resort he made the offer to? He replied with something about a confidentiality agreement and couldn't disclose it.
I know this is BS!
Most resorts will NOT even accept an offer unless it is at their price and they have fully vetted you.
This Investor, after researching him via Google and another web site I've come to rely on to verify client statements, doesn't appear to be able to complete a multi-million dollar sale.
(I could be wrong, but since I've been down this path before, I'll take my chances.)
My thought first thing this morning is, 'OK, I did kick him to the curb.'
In my time here as a Real Estate Broker in Nevada, I've run into too many want-to-be casino owners barking up the wrong tree who usually end up NOT ever closing any deals at all.
I wish the Investor all the best.
Interested in a Las Vegas CRE property?
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!
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