Showing posts with label Adult. Show all posts
Showing posts with label Adult. Show all posts

Thursday, May 23, 2019

He's a 'Talker!'

Years ago, when I left Residential Real Estate to work solely in Commercial Real Estate (CRE), I met an Owner of an adult club who in his life time once owned about 40 adult nude/strip clubs across the country.

Now, by the time I met him, he only own two adult clubs: one in Hollywood and the other here in Las Vegas.

Now, he wanted to keep his Hollywood one because that was an income producing property for him.
But, he was thinking of selling his Las Vegas club and was very wishy/washy about the sale.

Anyway, he had agreed to pay me if I procured a buyer.

Well, being the ambitious CRE Broker I am, I set out to find the perfect buyer.

Along comes this one Buyer who had a great story.  This Buyer could rattle off his accomplishments, and what he had owned, and where he was headed without hesitation.  He knew business inside and out.

This Buyer was interested in owning an adult club in Las Vegas; and, I knew the property he should acquire.

Well, this Buyer comes to town and the Club Owner agreed to meet us at his club (that was now closed) to go over any potential offer that might be discussed.

As we were listening to the Buyer rattle off his accomplishments and business acumen stories; he suddenly shifted gears.  Instead of Buying the Club, he wanted a management contract to operate the club for the Owner.

The Owner said, 'No.'  That's not what he wanted.

Needless to say, there was no deal struck that day.

After the Buyer and his cronies left, the Owner turned to me and asked me about the Buyer.
Since I didn't know much, I didn't realize that he was going to ask about managing the club.

The Owner said not to worry.  He has run into that type of Buyer many times over the years.
The Owner said the Buyer was a 'Talker."

At first I didn't understand what he was saying, then, it hit me.

The Owner explained that Talkers are all talk.  And, he said he pegged this guy early and knew the routine.  He told me to learn from this and be aware of them in the future.
He also advised me to not waste too much time with them because Talkers never buy.

To this day, this Buyer hasn't bought anything -- well, at least through me.

Through the ensuing years, I've run into several 'Talkers' and true to the Adult Club Owner's word, they have never bought.  Ever.

So, since then, when I run into "Talkers," I politely will listen to them (just as the Owner did); I will help them (a little bit); but, I don't put any faith in them at all.  Talkers have never, ever helped me earn any money.

Lesson learned.

Now, I could call them on the carpet and blast them for wasting my time, but, you see, I don't do that because there is that slim, less than 1% of 1/10th% that they just might buy in the future.

As you all should know, "It's Real Estate."

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!

Tuesday, June 19, 2018

Are there 8% Cap Rates in Las Vegas?

Yes!

I have one listed where the Owner is willing to sell his Downtown Las Vegas Studio Apartment building for an 8.2% Cap Rate.

This is a steal in today's market given that development along the north 'Strip' is picking up.

Alpine Motel Apartments

Now, the average net income for this property runs about $245,460 (Your numbers could be different.)

So, at a $3 Million Sales price, that puts the Cap Rate at....You guessed it! 8.2%.

If you have an interest in acquiring a value added multi-family apartment building in an area prime for re-development, this is it!

I am having a lot of up calls on this property, so I know it is NOT going to last.

Email me for property marketing details.

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

Wednesday, November 25, 2015

Happy Thanksgiving!

It's a Wednesday before the American Holiday, Thanksgiving, and I sometimes get nostalgic about my ancestry during this time of year because; YES, I am a direct descendant of William Brewster.

My father's side of the family has been keeping track of our family heritage for, well, since the Pilgrims maneuvered the Mayflower beside a larger then usual but still small boulder they called Plymouth Rock in 1620.

Anyway, have a peaceful, safe holiday. I was going to go sit by our pool and relax, but it is cold here in Las Vegas, NV.

If you have any questions about Las Vegas Commercial Real Estate....

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

Tuesday, November 17, 2015

Compliments will NOT pay the bills!

A while back, I was dealing with a "Supposed" client who was going to acquire a variety of CRE properties in Las Vegas.

At one point he asked me to find him +/-500 unsold homes so he could fix and flip.  He was very complimentary and by the sound of his voice, he was confident I could get the job done.

I did ask for his proof of funds -- which he said he had but would send them once an offer was written,

Anyway, I like so many others before me, I fell under his complimentary spell.

He did bring his "guys" with him to Las Vegas to look at various properties; and, we met with one Owner, who was very complimentary right back at him.

Later, after the "supposed" client was on his way back home to re-think his purchases, the Owner asked me to meet with him.  He wanted to buy me a cup of coffee.

The Owner and I met.  The Owner said, "David, that guy ain't no buyer.  He's wasting your time."

Apparently, the Owner has been through these scenarios before and wanted to forewarn me what was going to (and actually did) happen.

A few days later, the "supposed" client called to ask me to write an offer for the "wonderful" Owner who agreed to meet with them.

The "supposed" client wanted to offer the Owner a way out of his property buy putting together a joint venture and let the "supposed" client manage the business located at the property.  The "supposed" client would increase the sales and profitability of the business at the property, thus increasing the sales price of the property once it sold -- which they'd split.

I had to tell the "supposed" client no deal.  The Owner had warned me that, that was what he was going to do.  I didn't tell him this of course, but he said it would be very profitable for me to accept stock in this venture and I would be benefiting greatly from his tenure as managing owner.

I told him, the same thing the Owner said to me: Compliments don't pay the bills!

Anyway, he has since been less complimentary as far as I can tell, because he has moved on to other brokers -- to waste their time.

So, if you are serious about acquiring a lease investment -- and have proof of cash, there are a few really good deals left in Las Vegas you should be considering.  Call me.

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

Friday, November 6, 2015

"What other people think of me is none of my business." - Dr. Wayne Dyer

Recently, I have had real estate people criticize me in forums and through other people because of my opinion; or, because I am so open and honest in ALL CRE transactions that I am involved in.

It's the reason WHY I have only been to one deposition in 24 years which was for a real estate transaction that was going sideways at that time.

Anyway, the full quote is: "What other people think of me is none of my business. One of the highest places you can get to is being independent of the good opinions of other people." - Dr. Wayne Dyer

And, because some of these people have said things to other people I know -- I am sure most were trying to be positive and helpful -- that I have to emphasize that I truly do NOT care what you think about me.  Of course, I am referring to other real estate brokers, agents and affiliates or such that have formed an opinion about me through the years.

So, I am going to just say: I do what I have to do to get a CRE transaction done in the correct and most honest manner.  If that bothers some of you people, that's fine.  You can just stop being critical of me because I don't care whether you like me of not.

And, I know who you are.

I saw a saying a few days ago that went something like: 'I have been making changes in my life.  If you haven't heard from me in a while, you are one of the changes I made.'

Hopefully, clients fully understood that there are some idiot agents here in Las Vegas that don't want to do any CRE transactions with me.  That's fine.  That speaks volumes about me.  And, it tells me, that these agents are lazy, sleazy or just want to make a quick buck.  It is also because I have always insisted that they do their job.

Like I said in the previous post, I do work well with others.  I do work hard.  And, if you think I need training, or, you don't like opinion of a property value you placed on a property, go suck an egg.  You are in my way and I am going to help my client get the fairest deal they can.

Working with David Howes is easy! Just contact him -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND be sure to Follow David on Twitter: @DavidAHowes

Tuesday, November 3, 2015

Another national real estate firm "Broker" gets Called on the Carpet!

I love working Commercial Real Estate!  I must because of the nature of the business.

You see, recently, I had to call another 'Agent' on the carpet.  I did so because this agent -- who works for a national real estate firm, doesn't return other "Broker" up calls -- then when you do get a hold of them: They Lie!

This particular salesperson/agent -- who refers to them self as a broker (Not licensed as a broker.) -- doesn't want to work with others because of the severe commission split within their own office.  (I have blogged about this before.)

Anyway, I do try my best to work well with others.  I do try my best to do what is best for my client.   I will, also, kill a deal if I find out that my client's interest is suddenly hampered by a just learned about fact about a property being pursued.  (And, I am proud of the fact that I have only been to one deposition in my 24 year career.  And, that was because the Seller lied to me during the listing presentation.)

Anyway, here's the key to NOT experiencing my wrath: Don't lie to me!  If something is wrong with a property: Tell me!  I can help get a Close IF I know property problems well in advance.

And, if you refuse to take my call; or refuse to reply to my emails; step aside and get out of my way! In this business, delivering bad news is part of the job. So, get used to it.

Everyone hates losing listings, losing sales, and even losing clients.  It comes with the territory.

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

Tuesday, October 27, 2015

Why do Women allow Men to be better at Commercial Real Estate (CRE)?

Commercial Real Estate (CRE) and women seem to dislike each other.  I don't know if it's a full blown cat fight, or just a "thing" where one woman wore a dress better than the other.

But, since I have been working in CRE, women do NOT tend to be the one out searching for the better CRE deal.

And, I don't understand why.  Women tend to be the smarter of the two sexes.  Women tend to be more conservative with money.  Women will be more likely to want a more secured future.  All of these tend to point them to CRE.

BUT! owning a CRE property tends to be men.  And, unfortunately, it doesn't have to be that way.

A Celebrity woman once said (publicly) that she has "Smart People" managing her money.  I imagine that was an effort to deflect the fact that she is "too busy" to think about her long term future. The problem is these very same "Smart People" have demanded half my commission in the past for other wealthy and wise people just to refer them to me for a potential sale!

I always ask: Why would a person who is making money managing other people's money demand part of my money just to recommend a CRE property to their client?

It has to be because, "Smart People" managing money only "Make Money" when they are the ones selling this very same Celebrity Woman various Money Products!  When it comes to them recommending a +/-7% Cap Rate Net Leased CRE Investment Property to their clients, these "Smart People" deflect it as a bad investment because it is (NOT) in the Smart People's financial interest to do so.  And, I have had many discussions with "Smart People" and it truly does come down to my refusing to "compensate" them illegally.

P.S.: If you are NOT aware: It is "ILLEGAL" for me to pay an unlicensed "Smart Person" any amount of my commission.

So, as you can understand, IF you are truly interested in learning about investing in a CRE property, YOU need to call me yourself!  And paying unlicensed people is illegal in California and Nevada!

Are you starting to feel your "Smart people" are misleading you right about now?!  If so, it is because they only make money when they persuade you to buy stock, bonds, and/or mutual funds.  And, historically, these only average a Return on Investment (ROI) of about 2% to 3%.  And, in this ROI range, you're NOT allowing your money to grow faster than inflation.  (Which averages about 3% per year.)

However, IF you acquire a Net Leased Investment that should average a rate of return of +6.5% or even close to 8%, your ROI should be a better investment because you are staying ahead of inflation!!

Hmm -- which do you think has the better value long term?  Of course, it has always been real estate -- especially a Net Leased Investment!  AND, you receive a monthly or quarterly rent check!

I have said this before.  And, I feel like I am repeating myself over and over and over, again and again: Women! CRE is NOT an exclusive Men's Club!  AND, you can NOT rely on your "Smart People" to recommend any Real Estate to you because of their (inherent) greed.

So, get off your derriere and call David Howes yourself!  Stop depending on a "Smart People" to do this for you.  They won't because I will NOT pay them to recommend you to me! OR, a property to you!

I know it's rough to hear the honest truth!  But my clients that do listen to me, end up real estate richer.

So, in order for you to start acquiring CRE property that will be profitable to your future, YOU must contact me directly -- all by yourself!  (Okay.  An Assistant could dial the telephone, BUT, I need to talk to you.)

And when you acquire a CRE property correctly, it should pay you back over the long term.

So, have your "Smart People' manage your money.  But, put ALL CRE decisions in your realm of responsibility.   And, this will ensure you have a diversification of your money/wealth and assets.  And CRE helps to bring about a financially smooth future!

Plus, check me out.  History proves that over time, real estate has always paid better than Wall Street.

So, now that you know...Call Me!

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

Wednesday, October 21, 2015

Standing at the Free Throw Line of Life!

I stopped watching the NBA a few years back. The reason still is what was once an annoyance to me had in fact become a heart wrenching occurrence.

Fouls!  I hate the foul out rule!  You bump into or slap an opponent trying to shoot the ball and you hear the inevitable whirl of the whistle!  Followed by the word: Foul!

It's like you get reported to the principal or your parent because a fellow student or sibling is tattle-tailing on you for doing what you are supposed to do.

Defense in the NBA is virtually non-existent anymore.  And if you are being penalized for playing defense, it is because that is the way the game is designed to be played.  You are forced out of the game for the rest of the game -- because of it.

Unbelievable!

Anyway, as a former basketball player -- OK that would be a stretch.  I was a hack basketball player.  But, I was always able to stand at the free throw line and make them.  I think I could make 100 out of 100 if I concentrated. But, still I was 85 to 86% accurate.

So, I don't understand professional basketball players who can't (or don't want to) make free throws.  It's 15 feet straight on, and the basket is 10' high. It truly is NOT that difficult.

Anyway, I have stopped watching basketball altogether and have started to watch Hockey.  And, it is NOT a racial thing because two of the best hockey players in the NHL today are Black.  African-Canadian I think they said they were.

So, as in basketball, players play from one end of the rink/court to the other attempting to shoot a puck/ball beyond another player. But, in Hockey, an opposing player can legally goal tend.  I find this sport to be more exciting and less frustrating than sitting and watching some one blow a whistle and then shout: Foul! just because an opposing player is actually "playing basketball."

Hockey does have a penalty phase, but that is normally a player sitting out for 2 minutes while the other team has an a man advantage.

What does this have to do with Commercial Real Estate?  Absolutely nothing.  I'm just venting!
So, please have a wonderful day!

Oh!  I believe the NHL Hockey season started October 7th, 2015!

Go Bruins!

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

Monday, October 19, 2015

National Real Estate Firm only tries to Double End Deals

Since 1991, when I first got licensed in Real Estate, I was taught that doing the right thing for your client was the sure path to future success as a real estate broker.  And, the broker who taught me this was a short stocky former Gold Gloves boxer from Brooklyn, NY -- who happened to move to Southern California in the early 1950's and earned his California broker's license.

And, in the years that followed, I found him to be one of the hardest working real estate brokers I have ever met.  And, I have since worked for a variety of real estate firms since first getting my license.

Anyway, after he past away, and I moved from Southern California to Las Vegas, I interviewed with a several real estate brokers and notably one very large national real estate firm. The managing partner at the time said that since I didn't have enough listings, I was unable to join them.  (It has been revealed to me through the years that he was actually a pompous ass and not going to work for him was the best end result for me.)

So, he rejected me.  I was denied joining this large national real estate firm because I didn't have 'enough listings.  Oh, well.

I subsequently went to work for a former Century 21 franchisee.  That led to working for another regional commercial real estate firm, who in the six years I spent there, I discovered first hand that partners stealing commissions from the Associates was the norm.

Unfortunately, the other partners were not very good business men.  They decided to reward this arrogant nat a 100% contract without a desk cost. (Stupid? Of, course.)

And, since he was the #1 sales person for the firm, he was given all the up calls -- so he could decide whether or not they were worth his time to pursue.  (I eventually was told, that, that also included sign calls.)

I was never so glad to vacate a firm as fast as I did.  I now wish I had seen the rocks in the shallow water ahead that that ship was heading toward. (They have since gone out of business.)

So, after being denied a partner position at that firm, and because the arrogant ass didn't like me, I moved on -- for a short time -- to another national franchised firm, then a "supposed" real estate firm that "specialized in gaming properties;" to finally just hanging my broker's license all by myself.

Yet, for some reason, most -- if not all -- of my clients stayed with me.

So, through all this. one constant has remained and that is that this one particular National Real Estate firm doesn't like co-operating with other brokers.

Why?  Well, I think it is because they work in teams.  And, since there is very little commission left for the team to split after the national firm takes their share, splitting half with another broker, leaves the team less money.

Recently, I had a listing meeting with a local boutique hotel owner who was under the impression that listing with this national real estate firm would enable him to have 6,000+ agents worldwide trying to sell his property.

After several minutes of explaining how this firm truly works, the owner decided to NOT list.
(He did say he would pay me a 2% fee if I brought him a buyer.)

Anyway, the best thing I think that ever happened to me was when a client specifically flew to Las Vegas -- once I had my own company opened -- to have lunch with me.

During lunch, he said: "You are our guy here in Nevada!"
I said, "Thank You. But, what made you think that about me?"
He replied, "Because I think you are the baseball player who when he hits a grounder to short, you hustle your ass off trying to beat the throw to first base."

I know for a fact that this client has never regretted his assessment of me and my work ethic in his interpretation of success.

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

Friday, October 16, 2015

Las Vegas Hotel Resort Casinos For Sale!

Attention, companies that are interested and who are qualified to acquire a Las Vegas Hotel Resort Casino Property!

I have information on several Las Vegas Hotel Resort Casino Properties that will be coming on the market in the next month or so -- according to a well place gaming executive source.

So, IF your company is interested in pursuing a Las Vegas Hotel Resort Casino Property Opportunity, please click on the Las Vegas Casino Information Button in the right column (to the lower right of this page).

You must have your company's signatory (President/CEO) fill out and sign this Non Circumvent, Confidentiality and Commission Agreement in order to obtain any property information for any of the subject properties that will be coming available.

(Please be mindful that no property details will be offered to anyone unless I have received this form, completely filled out, and signed!  Please print the attached form, fill out, scan and then email it back to me for my signature.)

The values of these Hotel Resort Casino Properties will run from -- well, it will be +/-Hundreds of Millions and up!  So, be mindful and not waste my time.

I appreciate your patience in this and I am hopeful to be able to help you acquire a Las Vegas Hotel Resort Casino Property in the next few months.

For more Information about Las Vegas Commercial Investment Real Estate Property, contact David Howes at: davidATdavidhowesDOTnet; OR, 702-501-9388!

Monday, October 12, 2015

Mike Sitren was Correct!

RIP Mike!  It's been 22 years since I worked & learned from the best broker I ever knew.  Mike passed away in 1993 -- the year I went from salesman to broker in California.

He imparted wisdom on me that -- at the time -- I thought he was being too insistent about.  However, I realize now, that back then, he was ever so patient with me.

He once said: "Don't do any real estate transactions with family."

I asked: "Why?"

He replied: "Because if something goes wrong, you will be the one they blame!  And, they will make sure everyone knows you screwed them over."

I found out the hard way that this is so true when I tried to help my younger brother buy a house.  To this day, he still thinks he knows more about real estate then I do.  I would tell him the truth; he would insist I was lying.  (So sad.  I refuse to this day to even talk to him.  He is such an A**!)

He works as a computer programmer.  So, since he works on computers all day, he has learned all the ins and outs of real estate better than my 25 years actually working -- making a living -- at real estate.

So, please learn from my mistake.  Trying to help family will lead to them knowing more than you.  Don't fall into that trap!

:-)

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

Thursday, October 8, 2015

There are still some Good Deals in Las Vegas CRE right now!

However, I am dealing with several "Buyers" who tell me they want a deal on a property, yet, when I recommend one of these properties -- that already passed my litmus test -- Yes, if I had the money, I would have already bought this property -- the Buyers are like, ugh!

I would recommend a good price; they would change it to a weak price, thus killing any chance at a counter – or even a chance to open escrow!

I'm sorry: but, the Steals are long gone!  That window closed a couple of years back.
However, there are some good deals that could make money in the short AND long term.  You just have to have faith in the future of Las Vegas -- which is still growing!

For example: A fast food location on a high traffic street that is only one parcel away from a very successful McDonald's.

Here's another: a +/-1.8 acre of land zoned M-1 near Nellis AFB.  It also has a long term tenant on it.

So, if you are a serious Real Estate Investor -- looking for a Good Deal -- take the time to please give me a call.

OR, you could just give me the money, and I will buy it for me!

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

Saturday, October 3, 2015

"You are too honest for your own good!"

A few days ago, an attorney friend of mine and I had lunch.  We're both getting up there in age and for the first time we are both dieting. (Okay, we're just watching what we eat. Our metabolisms aren't what they used to be.)

Anyway, my friend, asked me about moving his office.  I asked about his remaining lease time, etc. He told me and I gave him some suggestions on what he could do.

Fast forward to the end of the lunch.  He then tells me. "David, you are too honest for your own good!"

I playfully asked if he was trying to insult me?  I told him it didn't work.

He replied he wasn't.  He continued to say he wished more real estate brokers where as plain spoken and truthful as I have always been with him.

And, that is when he said, "...that is why you lose deals to other brokers."

I wasn't shocked by this at all, because I know first hand that other brokers have slick tongues and are able to convince property owners and buyers that they desperately need them when dealing with a commercial real estate transaction.

Now, I do know the "closes" according to Tom Hopkin's Book, "How to Master the Art of the Sale."

But, most of the time, I don't use them because I feel as if it makes me "look and sound" desperate.  You do understand what I am saying, right?

So, instead of focusing on "the close," I try to be helpful and show them that my being honest with them, answering their objections directly, allows them to be relaxed and confident with me.

So far, it has worked.

Do I lose the occasional client?  Of course!  But, in some of those cases, I think they were being dishonest and they were trying to be a bigger shot than they truly were.  I'm sure, most of you have run into clients like that, right?

So, if you are looking for a Las Vegas Property?  Why not give me a call or email to see what I can do to help you.  Would that be okay?

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

Tuesday, September 29, 2015

Just in case you didn't know: When Acquiring a Las Vegas Resort Hotel Casino, The Buyer Pays the Real Estate Fee!

Recently, and by that I mean just yesterday, a Buyer gave me a hard time about the real estate fee that I want to charge to help him acquire a Las Vegas Resort Hotel Casino Property.

At the last minute, he doesn't want to pay and said that it is customary for the Seller to pay.

Okay, true!

In normal real estate, the Seller would, as part of the listing agreement, pay the Listing Broker a fee to market the property; and, the Listing Broker in turn would normally split that fee with a Procuring Broker.

I am good with that, because, that is what normally happens in Las Vegas, too!

However, it has been a long standing understanding, that when it comes to a Resort Hotel Casino Property sale, the Seller will NOT pay any real estate commission fees.  This, the Buyer must be willing to pay, (and I will get that agreement up front before disclosing any available properties that are for sale).

End of discussion.

And, I know there are companies (people) who think that they are better off going around a Broker. (There are several Sellers right here in Las Vegas who feel they know real estate better than a Broker.)  And I will live with that, too!

So, if you want to acquire a NON-GAMING property, I can find a property where the Seller pays my fee.

If you want to acquire a Las Vegas Resort Property, the BUYER has to pay my fee.

And, I only ask for 1%!  When Clark County bought the Riviera, they paid Morgan Stanley 3.5%

So, who rips Buyers off more?  You decide.

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

Wednesday, September 23, 2015

"It ain't over, til it's over," Yogi Berra RIP

As a youth growing up in the 60's and 70's, I was a huge baseball fan.

Then, the owners and players got greedy and each didn't want to give.  It made me sad that MLB finally decided that a strike was the only recourse.  (I don't like strikes.  It slows down progress.)

Anyway, as a Red Sox fan, I hated the Yankees because they seemed to always have the Red Sox's number.  And, they were never going to be denied.

However, one Yankee was always my favorite Yankee: Yogi Berra.  I don't know why.  Maybe it was because as a kid who only got to look from the outside looking in, that Yogi loved baseball.  He was going to play, rain or shine.

I decided to look up some of Yogi's quips.  I knew he had a lot, but I didn't know they all made a lot of sense...

Enjoy.

"Baseball is 90 percent mental. The other half is physical."
"All pitchers are liars or crybabies."
"He hits from both sides of the plate. He's amphibious."
"You can't think and hit at the same time."
"So, I'm ugly. I never saw anyone hit with his face."
"It's déjà vu all over again."
"Even Napoleon had his Watergate."
"You can observe a lot just by watching."
"I'm not going to buy my kids an encyclopedia. Let them walk to school like I did."
"Why buy good luggage? You only use it when you travel."
"The towels were so thick there I could hardly close my suitcase."
"Cut my pie into four pieces. I don't think I could eat eight."
"Never answer an anonymous letter."
"When you come to a fork in the road, take it."
"If you don't know where you are going, you'll end up someplace else."
"Nobody goes there anymore. It's too crowded."
"If you can't imitate him, don't copy him."
"The future ain't what it used to be."
"A nickel ain't worth a dime anymore."
"I never said most of the things I said."
"It ain't over 'til it's over."
"Always go to other people's funerals. Otherwise, they won't come to yours."

RIP, Yogi.

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

Friday, September 11, 2015

Las Vegas Multi-Tenant Retail For Sale at +/-7% Cap Rate!

Now, here is a steal!

Just when I think that the Las Vegas (steals) deals are gone, the agent for this owner sends me a property that the owner wants to sell their well located Multi-Tenant Retail Center!!

There is a great opportunity for you to acquire this well located property on a very, very busy street in Las Vegas!

However, you must act rapidly!  This will be in the SOLD! very quickly!  (Send me an email and I will forward the property details!!)

This means that you can acquired a multi-tenant property with NNN leases on a busy west Las Vegas street!  A Property like this doesn't last very long on the market; and, your neighbors will be Starbucks, Jersey Mike's and WeinerSchnitzel!

I have been blogging about NET LEASED INVESTMENTS!  That is where the Tenant pays the building Real Estate Taxes, Insurance and (most) of the maintenance on top of their annual rent!

AND, the Anchor Tenant is a Regional Credit Tenant owned by a Regional Gaming Corporation!
And, an offer at or about a 7.5% Cap Rate, might get you into escrow, this means you re-coup your initial investment in +/-14 Years!

This property is listed at just less than $5 Million.

The leases and tenant financials are available only to those who call or email me.  I suggest you do so as soon as you finish reading this so you do NOT swing and miss on this too good of an opportunity!

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

Friday, September 4, 2015

Looking for an 8% Cap Rate In Las Vegas? Don't! What's left are crappy properties!

This is NOT to alarm you!  But, if you are seeking an 8% Cap Rate or higher for commercial real estate in Las Vegas, "I laugh in your general direction!"

I was approached by a New York Buyer who had contacted many, many Las Vegas Real Estate Brokers because he thought that contacting more than one was going to get him an inside tract to a property where a Seller was dumb enough to sell a property at his purchase price.

I could not stop laughing. (Okay, I was smiling.  But he couldn't see because we were speaking on the telephone.)

Anyway, he told me that he had found a property where the owner was willing to sell at a price that was more than an 8% Cap Rate.

I told him that, that property was hard to lease because finding a tenant to lease the property up was very, very difficult.  I know this because the owner had owned the property for several years and struggled to lease the property because the area is NOT conductive to retail.  Sure there are a few retail tenants in the area, but for the most part, a convenience store and a tattoo parlor are usually hard to find locations.  So, they usually take any location they can find.

Anyway, since the property had vacancy, the New York Buyer said that the seller was willing to pay 1 year's worth of rent for the vacancy -- or until the New York Buyer was able to lease the space.

Okay, I had to be careful since the agent the New York Buyer was working with had told him that this was a good deal -- because the Seller would cover the rent for up to one year.

I told him that just because he was getting the property at an 8% Cap Rate, other bottom feeder clients I have passed on this property because they know that the space is impossible to lease.

But, he is from New York and he knows better than me.  I only live and work in Las Vegas and I had, had the lease listing on this property more than ten years ago.  (And, back then, I was not able to lease the property up 100% because the area the property is in is not conductive to retail.)

Lesson learned.  Any questions?

Generally, right now in Las Vegas, most 8% Cap Rates are properties I would NOT recommend.
The problem is that the leases (usually) have less then 5 years remaining; or they are a church tenant; or they are basing the 8% on whether or not the new owner can lease the remaining vacancy up in a short time period (Not Likely).

But, since this one particular property had a price reduction to slightly higher than 7.5% Cap Rate, it amazed me the vulnerability that puts know it all New York Buyers in.

So, if you are a serious buyer with intent to acquire a long term solid investment; and are willing to pay slightly more for the solid investment, give me a call.

There are solid CRE investments in Las Vegas.  Unfortunately, they are just not going to be sold at an 8% Cap Rate.

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

Tuesday, August 25, 2015

Want to Buy a Las Vegas Resort? Call Me! I Know the Ones Actually For Sale!

Having lived and worked here in Las Vegas since 1994, I know a thing or two about how 'business' gets done in Las Vegas!

One thing: Las Vegas commercial real estate (CRE) requires that you build client base of Owners. So, in the 21 plus years working and living here, I have developed relationships with 'key' people who can help me help you.

Two, this gives me an advantage that you need IF you are interested in acquiring a Las Vegas Resort Casino. Knowing who the 'key' person is requires an important decision on your part: Go it alone and see what happens; OR sign me up to help you get to those people.

Now, most Resorts in general do NOT like Real Estate Brokers at all. They think we are unnecessary and most do get in their way of closing on a Resort Property. However, I understand their plight. I have seen, first hand, Real Estate Brokers  -- some from half way around the world -- way over-charge Buyer clients simply because they think the information they have is valuable and for sale.

And, because those "Brokers" think they are special, because of that third or fourth hand information, they think that is the key to a successful purchase attempt.

Now, since I do know which Resort Casino properties are truly being considered for sale, you should only sign up with me!

And, "Yes!" I know the 'key' people to contact at those Resort properties.

Unfortunately, just as the other Brokers, the key element involved requires you -- as the Buyer -- to compensate me.  BUT, that is where the difference between me and them lie.  I only ask for a 1% fee. But, just as everything else in life, I am flexible.

Recently, a CA Broker told me that he had a Buyer from the Pacific rim who wants to acquire a Las Vegas Resort Casino AND his Buyer was willing to pay him a ridiculously fee of 3%!

I'm sorry. But, I do NOT know of any Buyer who is that ready, willing and able to pay a 3% fee on a $1 Billion dollar property. How much is that? $30 Million?!

Given that Resort Casino prices are mostly in the hundreds of millions, my charging 1% fee can seem too much, too.  But, I am willing to negotiate and be compensated on a flat fee.

Now, please be aware of Broker Chains. This is where two or more Brokers want a piece of the commission pie simply because they learned that a Buyer - such as yourself - has made it known that you want to Buy.

These Brokers feel that they are due a larger piece simply for only referring you to me -- which is usually too high.  So, ask yourself: Is it truly worth their demand for more money just because they passed along a Buyer client's name or telephone number?

IF you did a little more research, you would have stumbled upon me.  Thus giving you access to a Seller directly.

I truly do NOT want to be a apart of these broker chains.

However, IF you are truly interested in acquiring a Las Vegas Resort Casino property, please forgo the Broker chain, and sign with me directly as your Broker.  And, "Yes!" that requires an officer of your corporation duly authorized to sign a Non Circumvent Commission Agreement (which is located in the right hand column about midway down the blog under Las Vegas Casino Information) that you will compensate me directly from Escrow upon the Close of Escrow or the Sale of the subject Resort Casino Property!

But, remember, I do know which Resort property(s) are actually for sale. Signing up with me to represent you doesn't mean a deal will get down. That could take time and effort on your part. And, of course, there could be attorneys involved. But you will actually get closer to submitting an LOI or Offer to the correct person; which gets you closer to Las Vegas Resort Casino Ownership; which with my help -- and you compensating me a fee to represent you -- is a small price to pay for a Resort Casino Property Ownership.

Lastly, ALL interested parties will have to disclose their financial capabilities to me. That way, I know upfront that you are able to complete a purchase prior to making an offer. And getting that LOI or Offer with the appropriate financial qualifying paperwork to the 'key' person, protects my reputation as a Real Estate Broker and will allow them to know that YOU are qualified to Buy.

I appreciate your patience and tolerance in the matter.

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

Monday, August 17, 2015

Las Vegas Resort CEO is a Big, Fat Liar!

Now, I was taught, while growing up, that if you can't say something nice about someone, say nothing at all.

However, I recently had the displeasure of talking to a CEO of a gaming company, who in an email and on the telephone told me the biggest lie of the year.

He said that a certain casino property was NOT FOR SALE!  And, because he was so bold in his pronunciation about it, I took him at his word.

Well, about three months pass.  And, in the local news was the headline that a certain casino had sold.

What?

Why would a CEO change his mind?  What enticed him to make the Sell decision?

I am at a loss because my Buyer just wanted at least an opportunity to make an offer to acquire the property.

Well, the CEO's explanation was that the buyer had inquired about the property constantly for about five years.

I had inquired, too.  But, since I was only a broker, the CEO decided to invalidated me as not being a true representation of a qualified buyer!

I had explained to the CEO that my client was already Nevada Gaming Approved, already owned six Nevada casinos, and owned two other casinos out of state.

So, this leads me to believe there was something more to this transaction that doesn't seem -- kosher(?).

I get the feeling that there is a little more than his brief explanation that something is going on behind the scenes. Is it something shady?  I don't know.

But, my question still is: Why not allow for a sales competition to go on in an effort to get the highest and best offer for the property?

Unfortunately, the CEO will never say what the true reason is for just allowing one person/company to bid and then close at a price I feel is below the market price for this property.

My Buyer client said he didn't want to get into a "pissing" war since the deal is done.

So, I am hoping that his company's board is done with this CEO.  Only an idiot would quietly sell a casino property so that only one company was able to make an offer.

In my opinion, he did NOT do what was best for the ownership entity at all!

Just my two cents!

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

Wednesday, August 12, 2015

ICYMI: Kickbacks are Illegal in Real Estate!

Now, I know this happens.  However, since I don't pay kickbacks, I don't know how agents get away with it; OR, why an agent would even do this in the first place!

But, in the past, I have worked at companies where (a few) agents, for whatever stupid reason, would agreed to pay a Buyer or Seller a kickback for using that agent to sell or acquire a property.

It is stupid.  It is unnecessary.  And, it is only because of the client's greed that they would do this.

In real estate, you are usually splitting the commission with the broker, and sometimes with a partner. So, why would you give any amount of money to either client whether they are the Buyer or Seller?

The Buyer, usually, is getting the benefit of acquiring the property -- in monthly rents.  So, they are making money anyway.
The Seller, usually, is getting the profit for owning the property.  So, they are making money anyway, too!

I just don't understand it.

I work hard for my commission fee.  I deserve to keep as much of it as possible.
And if a Buyer agrees or a Seller agrees to compensate me for helping them navigate a commercial real estate transaction, then I have earned that fee upon the close of escrow or the close of the sale.

And, I will not be held accountable for an action a few deem appropriate when in truth, it is inappropriate and most importantly, illegal!

Just my two cents!


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