Questions surround the future of the Fontainebleau

Questions surround the future of the Fontainebleau

A week or so ago, Paul Joncich, an anchor on Channel 8's NewsNow called to ask if I'd be willing to be interviewed about the (mostly) built Fontainebleau Resort here in Las Vegas, NV.

At first I was hesitant because I truly don't like the way I look or sound on camera.  But, after the wife told me to take my own advice of: "What other people think, is none of my business," I decided to go for it.
Anyway, click the link above for the news story.

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

Downtown Las Vegas Church to acquire Neighboring Property!

After almost a year of going to and fro, a Downtown Church has agreed to acquire it's neighboring property for $1.9 Million.

This church which sits on the NEC of Ogden and 9th will be increasing it's land footprint from .09 acres to .32 acres.  The neighboring property to the south has a +/-3,600 SF store front office building; and, the adjacent parcel to the west has two store front office buildings of about 1,100 SF.

Since most of the sales activity in this area has been completed by the Downtown Redevelopment Project, the church's impact would be minimal.  However, with the acquisition of these properties, the church will be able to service more of the homeless and indigent populous that are an earmark of this east Las Vegas area.  And, this increase in lot and building size will help the church provided better and more food services for the growing food recipients.

Hopefully, we will be able to close the sale by mid summer.

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

The Seller's Downfall from Selling without a Real Estate Broker!

Just recently, a property owner emailed me to say he had SOLD! his commercial Property and he was proving to me he didn't need a Real Estate Broker.

I had in the past tried to get him to list his property with me. But, he knew better than me about what his property entailed. So, I said okay. But I really wanted to see what would happen.

This is always a bad move on an Owner's part. If you are NOT experienced in Real Estate, you will get taken advantaged of.

Even my own younger brother bragged to me a few years ago about: "How easy it was for him to get his real estate license." I then asked my brother, "So, how much money have you made selling real estate since getting your license?"

His answer: "None." And, it is None because he works as a Pharmacist. Unfortunately, he is just like the rest of Sellers: He truly thinks it would be easy to be his own real estate broker.

So, the owner from the above property who said he didn't need me, was bragging in his email about selling on his own property, said: he Sold for: "$800,000."

I asked: "Why did you sell it for so much less than what this very same buyer had already paid for similar properties in his area?"

He replied: "The Buyer had told him they were never going to pay what I had wanted them to pay" which was $200,000 more than what they paid for his property.

I said: "Of course, they are telling you that now. You accepted less! Of course, they are going to say, they wouldn't pay more than what I had gotten these very same Buyers to pay for other properties that were all around him. But, "You decided you didn't need me!"

He reiterated: "I wasn't needed." and "I was making it a bigger deal than it was." Well, it was a $200,000 bigger deal than he realized.

Anyway, I didn't want to pour lemon juice on his wound. IF he truly thinks he did a better job than me, fine. I will move forward knowing he screwed up big time. AND, he eventually will realize this, too.

So, want to sell your CRE property yourself? Go ahead. It's just that I make an honest living with a Real Estate Brokers license and I would never try to do your job just to cut you out of a financial gain for helping me. And, I do it with your best intentions in mind.

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

Solid NNN Investments in Las Vegas at 7% Cap Rate!

Since late last year, I have been dealing with several out of state investors searching for popular CRE Investments that they only want to buy at an 8% Cap Rate or higher.

What these investors are neglecting is that the owners here know they have CRE investments worth at least a 7% Cap Rate.

AND, they will NOT sell for higher than that.

So, investors, please take it as the TRUTH that a 7% Cap Rate is a very good investment in Las Vegas whether you believe it or not. Sure. There have been some property acquisitions here at a price that translates to a higher Cap Rate. BUT, most of those have been for properties that went into foreclosure: AND, the banks were tired of maintaining them through the years.

AND, when you have a property with one of the largest gaming companies as a tenant that is guaranteeing the lease through the initial term, you should be jumping on this band wagon and start collecting the annual rents.

One particular property that has had investors turn their nose up at does exactly this. AND, not many Credit Tenants would be willing to do that, either.

Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88

Chinese Millionaires Fleeing China

On CNBC's web site, there is a report of Chinese Millionaires fleeing China because the economy is so bad there.

I have placed a link below so that you can read the report first hand.

http://www.cnbc.com/id/101388620

My suggestion to these fleeing millionaires is to please consider Las Vegas, NV as a place to invest in.  With Las Vegas recovering from the 2008 economic collapse and values beginning to increase, now is the time to take advantage of Las Vegas properties.

So, IF you have any questions about investing in Las Vegas real estate, send me an email and I will reply as quickly as possible.

Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88

Downtown Las Vegas is Transforming! Get Involved Now or Miss out!

This past weekend was the "Life Is Beautiful" event that had Downtown Las Vegas full of young dreamers and believers!

Here is the Las Vegas Suns' Katz Report describing the event, the change and its destined forward direction of this area.

http://www.lasvegassun.com/blogs/kats-report/2013/oct/27/life-beautiful-throws-open-door-new-downtown-las-v/

And, here is a Las Vegas Review Journal article about the Then and Now of Downtown Las Vegas!

http://www.reviewjournal.com/news/downtown

Please enjoy!  Then, get together with your investor friends and call me about acquiring property in this area to redevelop along side Tony!

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

Club Owners, Chefs and Restaurateurs Looking at Opening a Restaurant in Downtown Las Vegas?! I have Four Properties!

Earlier this month I received a call from an associate real estate agent who has a client looking for sites in downtown Las Vegas to open their restaurant concept. She has a client who owns and operates restaurants who wants to be in a specific area of Downtown.

I sent her ALL the sites I have listed.  Fortunately, I have two properties in this area she is looking at Listed For Sale.

This got me wondering about ALL the things happening in Downtown where Tony Hsieh's Zappos Company is currently moving into the old Las Vegas City Hall building. He is attracting a lot of attention. And, it makes me wonder IF these business people who are following this are truly interested in moving into the downtown east area OR are they thinking of being in a casino along the Fremont Street Experience.  My immediate concern is: will they have enough foot traffic to succeed at the Downtown east locations?

From my perspective, more roof tops or housing is needed.

Tony's crew, lately, has been acquiring property at what I believe is below the normal or median price for this area.  I have advised my sellers to NOT ask too much IF they truly want to sell; rather ask for just more than the norm and under NO circumstance will I allow them to sell to the flippers.

Hopefully, with this inquiry to you today, we may see more activity in the coming months.

AND - just so you know - the area of the Downtown Redevelopment Project is east of Las Vegas Blvd; US 95 south to Charleston; and Las Vegas Blvd to Maryland Pkwy.  Of course, Tony's crew has bought property outside of this area, so anything could happen.

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

Topless Adult Club For Sale in Las Vegas! Has Full Alcohol, Topless Dancers and Gaming!

Now, this is NOT for everyone.

This is a specialty use and only a select few of you in the CRE world will be able to own and operate a club where women can dance in scantily (G-String bottoms only) and men can drink and gamble.  Oh!  And men, you can smoke cigars while the Ladies entertain you!

This is the perfect setting for a man visiting Sin City and is looking to push the envelope of their relationship with a significant other! (I am NOT endorsing cheating on your spouse.  You would have a full unabridged menu of Ladies to look at!)

This adult topless club is right next door -- even though it does seem that way -- to a major Resort Hotel Casino.  It is the best located Adult Club in Las Vegas and one of the best for Topless Adult Entertainment.

Interested?  This place will run in the $10 Million range.  It comes with +/-2 acres, a +/-17,000 SF Building, Full Alcohol, 15 Slot Machine Potential and Adult Cabaret Entitlements!

Email me your contact information, your financial capability and experience in this area of business for full disclosure of the property.

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

Las Vegas Resorts, Casinos, & Hotels For Sale!!

A lot of people search for Las Vegas Resorts, Hotels, and Casinos that are For Sale.

Most are "tire kickers."  But, unfortunately, some of these people searching may NOT possess the appropriate qualifications to own and operate such a prestigious property.

If you are one of the few, that have the money, time and experience to own and operate a Las Vegas Resort Gaming Property, you will want to click on the Las Vegas Casino Information button -- just to the right -- in the right hand column.

Now, there, you will find a: 'Non Circumvent, Confidentiality and Commission Agreement.'  This needs to be downloaded, filled out by your company's signatory, scanned back into your computer, and then emailed back to me.  You might as well provide to me -- upfront -- your proof of funds, too!

Once I have verified you are a qualified risk to own a Las Vegas, NV Resort property, I will either ask for additional information about you to clarify anything that may cause a "red flag;" or if I am able to verify your resort casino status quickly, I will forward the appropriate information on the property fits your qualifications and acquisition criteria.  You will, also, have to pass muster with the  Nevada Gaming Control Board as part of your financial ability to acquire a certain priced property.

Currently, there are several unrestricted gaming properties available for +/-$25 Million and up!  I know of one unrestricted gaming (Off Strip) property for sale that the owner told me he wants $5 Million to sell; and, then there is the big leap.  One resort property available with a +/-60,000 SF casino can be acquired for +/-$250 Million!  And, then the others...  Well, since 99% of you will NOT qualify for this particular property, i will just keep that under my hat until the person who can afford this resort property comes forward.

AND, lastly, there are still several well priced "tavern" sports bar properties available that are also NNN Investment properties!  These will return +/-7% on your money.

Again, I appreciate your patience in this and I hope to be able to help bring you other Resort Properties in the near future.

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

Las Vegas Resort Hotel Casino Buyers!

To make it easier for qualified persons or companies to obtain detailed information on which Las Vegas Resort Hotel Casinos that are For Sale, I have added an information button to the right column labeled Las Vegas Casino Information.

Click on it, print the form, have your authorized company signatory fill it out and sign, then scan and email it back to me.  Once I have verified that you are financially capable and Nevada Gaming Control Board pre-qualified, I will forward the information on the property that best fits your acquisition criteria.

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