The headline of today's post is a lie!
It's what California investors have been telling me about one of my Downtown Las Vegas listings that's for sale at $2.8 Million. That's the Owner's selling price. And, I agreed he shouldn't sell it for any less.
But, a lot of the California Investors that have approached me on this studio apartment building just want to steal.
They are retreating from California because the prices are way, way too high there. So, they are crawling into Las Vegas trying their best to steal a property.
Now, some have been doing this for years and years.
Others, are new to this market.
But, when I tell them about the benefits to buying at a 9.9% Cap Rate and that area rents are slowly increasing, they take the information under advisement and then -- a few days later -- they give me the phony excuse.
Yes, the property needs remodeling. Paint and carpet has a cost but NOT a $1 Million dollars worth of cost. Besides, the already renovated 27 unit apartment property one parcel north SOLD for +/-$87,000 per unit six months ago!
These investors seem to like wasting my time.
If I had $2.8 Million, I would have acquired the property already. But, I'm short in that area.
And, no I'm NOT going to play the lottery even if it's more than $1 Billion.
Too many dumb people play just to make one dumb person rich.
So, I will continue on with my marketing.
There is a buyer out their looking for a fixer upper who doesn't mind earning +/-$21,000 per month!
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!
It's what California investors have been telling me about one of my Downtown Las Vegas listings that's for sale at $2.8 Million. That's the Owner's selling price. And, I agreed he shouldn't sell it for any less.
But, a lot of the California Investors that have approached me on this studio apartment building just want to steal.
They are retreating from California because the prices are way, way too high there. So, they are crawling into Las Vegas trying their best to steal a property.
Now, some have been doing this for years and years.
Others, are new to this market.
But, when I tell them about the benefits to buying at a 9.9% Cap Rate and that area rents are slowly increasing, they take the information under advisement and then -- a few days later -- they give me the phony excuse.
The Alpine Motel Apartments Downtown Las Vegas, NV
(And the parking lot is part of this parcel.)
Yes, the property needs remodeling. Paint and carpet has a cost but NOT a $1 Million dollars worth of cost. Besides, the already renovated 27 unit apartment property one parcel north SOLD for +/-$87,000 per unit six months ago!
These investors seem to like wasting my time.
If I had $2.8 Million, I would have acquired the property already. But, I'm short in that area.
And, no I'm NOT going to play the lottery even if it's more than $1 Billion.
Too many dumb people play just to make one dumb person rich.
So, I will continue on with my marketing.
There is a buyer out their looking for a fixer upper who doesn't mind earning +/-$21,000 per month!
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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