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

Sunday, August 2, 2015

Wrote another Purchase Offer for a Las Vegas Resort Casino!

For those who are interested and qualified, I wrote another offer for another Las Vegas Resort Casino Property last week.

Now, I do know that several others will be coming online in the next week to a month or so.  And, in order to receive any information about these properties, your company signatory (CEO or better) must fill out and sign the Non Circumvent, Confidentiality and Commission Agreement (you can find this located in the right column below this post) and email it back to me in order to receive any details on any property.

Also, since the current owner of these resort casinos will be requiring Proof of Funds, you might as well send that to me, too.

The owners have told me, that any offer to purchase MUST include that you as the Buyer must have the financial capability and provide Proof of Funds to close an escrow/sale of the property.

And, the offers must be from people/companies that are either currently licensed - or who are capable of being licensed by the Nevada Gaming Control Board. And, this is ALL prior to release of any property information.

The First is a larger property and it will run you +/-$1.5 Billion.  (That's all I am going to say about this property at this time.)

The Second is another large Resort gaming property that will run you around +/-$500 Million.

The Third is a smaller property that will run you around $110 Million.

AGAIN, if you want any information on any Las Vegas Resort property, click on the Las Vegas Casino Information button just below to the right, print the form, fill it out, have your company signatory sign it, and email it back to me.  Once received, I will provide you with the property details that fit your qualifying capacity.

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

Tuesday, July 28, 2015

Las Vegas Resort Buyers! Beware of the International Casino Brokers!

A client who is trying to finance a hotel purchase here in Las Vegas, called me yesterday to say that he found several resort casino properties available for sale that I had not told him about.

Confused, since I am more than willing to disclose everything I know about a resort casino that is for sale, I asked, "What properties did you find out about that are "For Sale" properties?"

He told me about a web site -- which is based over seas -- that has what I consider "a hidden agenda" about trying to make money off of suckers interested in acquiring a Las Vegas NV Resort Casino Property.  I know and believe this web site is misleading potential buyers.

The site states that they "just listed" several properties and gives an estimated EBITDA that to me "looks" fake.

Now, according to the web site, in order to get these numbers, you must sign a Non Circumvent and Commission Agreement -- which is normal; EXCEPT that the following circumstances apply.

1.) Resort Property owners -- especially those in Las Vegas -- don't list properties with overseas brokers.  Not ever, never.  Local Brokers even have a hard time getting these properties exclusively listed to sell.

2.) They definitely never, ever reveal any financial information to anyone!  So, having an EBITDA to disclose tells me this is extremely false.  And an estimate EBITDA with numbers that are laughable, is funny in itself.

3.) I live and work in Las Vegas.  Most of what he claims that he has listed is honest and truly NOT FOR SALE!  Now, in the years I have lived and worked in Las Vegas, I developed direct access to the owners' decision makers.  And, none of these people will ever, ever say their property is for sale; and absolutely none will ever give me access to their financial information.  It's NOT going to happen!

Besides, some of the Land that this overseas broker claims to have listed is actually NOT LISTED. And, by the description, I know which property these are because, like I said above, I live and work in Las Vegas, NV.  (By the way, the land he claims to have listed, he claims to have approved high rise plans.  The problem with the land's location is: a high rise building can NOT go there. You will have to contact me as to why.)

So, IF you happen to find this ridiculous web site and see a Las Vegas property that interests you "listed" for sale, please give me a call.

I guarantee, I will tell you the truth because I do NOT make any money by lying to potential clients.

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

Saturday, July 18, 2015

Las Vegas Resorts, Casinos and Hotels For Sale!!

For those who are Interested and Qualified, there will be several Las Vegas Resort Casino Hotel Properties coming on the market in the next few weeks to a month -- according to the Seller.

So, if you are truly interested (and most importantly Qualified) in pursuing a Las Vegas Resort Casino Hotel Property, please click on the Las Vegas Casino Information Button in the right column (to the lower right of this page).

Your company signatory must sign this Non Circumvent, Confidentiality and Commission Agreement in order to obtain any property information.  (Property details will NOT be offered or released unless you have printed, filled out and signed by your company's signatory.  Then, you must  scan the form back into your computer and emailed it to me for my signature.)

The values of these Resort Hotel Casino Properties will run from +/-$250 Million and up!

And there are smaller 'Casino' less expensive gaming properties available. too!

For example, there is a +/-5,000 SF small local 'casino' restaurant property and that will run you +/-$5 Million.  This is being offered at this higher than normal price because this property still has the "Unrestricted Gaming" designation which is "Grandfathered" from the newer gaming rules and regulations.  However, you will still need to provide qualifying information to move forward with this because of the Nevada Gaming Approval element.

To receive information on any of these properties, just email me for details!

I appreciate you patience in this and hope to be able to bring you other Resort Properties in the next few months.

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

Wednesday, July 8, 2015

Nevada Hotel Properties Marketed As Casinos Could Be NOT!

Working in commercial real estate usually entitles me to emails which when I "look" at them, I realize that the "Listing Agent/Broker" is trying to sell something that "Smells Fishy."

Recently, my Inbox has received emails about certain hotel properties inside of Nevada claiming that they are "Casino" properties.

Now, because I talk a lot -- mostly to people who own/work/manage casino properties in Las Vegas and the rest of Nevada, I do have a sense of what is or could be For Sale.

So, when I get property information via a National Real Estate web site, where I know for a fact that the owner is willing to sell, BUT he will NOT list it -- even though this particular agent/broker claims it is listed with him.  It isn't.

And, this agent/broker is claiming this property is a casino.  It isn't a casino, either.

Now, the reason why this particular hotel is NOT a casino is that the previous owner and the current owner agreed to a Non-Gaming Deed Restriction on the Property because between the two of them, they own ALL the Gaming properties in this part of Nevada and they decided that restricting this property against gaming would help the other casinos in this area.

Anyway, when I called the current owner, asking about the potential sale of his hotel property, he did tell me to bring him an offer within a certain price range, and he'd consider it base on the offer's merits.

When I told him that another agent/broker claims to have it listed, he assured me that it is NOT listed ("I don't need to list the property because I can sell it myself." was essentially his answer.  He owns a lot of property here and in California.)

So, when you see a Nevada "casino" property being solicited from any national web site or company, why don't you give me a call to find out the truth.

My reason for this is: Wouldn't you prefer dealing with some one who is being honest from the get go; rather than some one who is falsifying their status about a casino property?

Thought so...

So,...

Contacting David Howes about any Nevada casino property is easy -- I can be reached by: davidATdavidhowesDOTnet OR call at: 70 25 01 93 88 AND you can Follow David on Twitter: @DavidAHowes

Wednesday, July 1, 2015

Las Vegas Resorts For Sale! Yes! I Know Which Ones Are Truly Available!

Having lived and worked in Las Vegas since 1995, you learn a thing or two about how 'business' gets done in this particular southwestern town called Las Vegas!

For one thing: Las Vegas commercial real estate (CRE) requires that you build a client base of Owners who trust you.  So, in the 18 plus years of working & living in this desert, I have developed relationships with 'key' people who can help me help you acquire a resort property.

Thus, this gives me an advantage that you absolutely need if you want to be successful in acquiring a Las Vegas Resort Casino.  And, that is: I know who the 'key' people are that you need to know to even approach at a Resort, to get to the owner (its board members) who will be making the Yes decision about whether they will sell or not.  And, you will agree, that, that is the most important requirement there is.

So, if you want you can 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.  They think only attorneys are capable or necessary.  I understand their plight.  I have seen, first hand, other Real Estate Brokers  -- some from half way around the world -- way over-charge Buyer clients simply because the Broker thinks the information about what is for sale, or even who to present offers to, is worth more than gold.

And, because those Brokers think they are special, that is the key to my success.

Yes. I know which Resort Casino properties are truly being considered for sale!

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

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

Recently, a CA Broker told me that he has a Buyer from the South Pacific rim who wants to acquire a Las Vegas Resort Casino AND he is willing to pay that broker a ridiculously high fee demand 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 a 1% fee seems reasonable.

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 a Resort Casino property.  These Brokers feel that they are due a larger piece simply for referring you to someone such as me.

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 to me.

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

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 that you will compensate me directly from Escrow upon the Close of Escrow or the Sale of the subject Resort Casino Property!  ((The form can be found in the right hand column under Las Vegas Casino information -- just over to the right!))

But, remember, I actually do know which Resort property(s) are currently for sale. And, by 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 will attorneys involved. But you will actually get closer to submitting an LOI or Offer to the correct person; which gets you closer to 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.  That way, I know upfront which property you are truly capable of completing a purchase on 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, June 29, 2015

Yesterday, while talking to a Seller...

As most of you know, I am a very experienced Nevada Licensed Real Estate Broker.  I have 23 and more than one half years of experience helping Sellers and Buyers work their way through the CRE acquisition process.  So, none have ever ask me my experience in a particular price range.  (I thought this odd.)

Anyway, the Seller (of a Las Vegas hotel property) asked me WHAT? was the highest price real estate transaction I have ever closed.  I wasn't sure, so I said I didn't really know because I have done a lot of transactions through the years but the exact sales price escapes me.  Well, he said it was important to him that I have experience in a certain price range in order to gain his confidence in my ability to Sell his property.

He said that without that experience he didn't want to be the first to train me in that price range. (What??)

He went on to suggest that if I was with an international firm, I would have the experience to sell his property.

(Okay, I had to stop him right at this point.  First, I told him, I did work for two international firms and that since the international firm he was leaning toward, didn't like splitting commissions with anyone else, they were NOT going to respond to my telephone calls or emails.  I explained the problems I had, had with this particular firm over the years; AND, I told him that the firms I had worked for in the past did the same thing. He was shocked to hear this.)

Fortunately, I did have one experience in the price range he was asking about; the problem was it was a build to suit for lease (Total Lease Value +/-$16 Million).  You see, just because a bully of a real estate firm comes along doesn't mean they are truly capable of the job -- especially when they refused to call other brokers back or even pass along a counter offer they have received from their own listed client.  (Yes! This very firm did just that on a smaller building sale where I represented the Buyer and they represented the Seller.)

However, this particular Seller didn't believe me.  He thought it foolish for a company to attempt to only double end the commissions, thus voiding any potential sale.  I had to remind him that when you deal with an international real estate firm that promotes that they have a team working on Selling your property, there is very little commission to be split unless you can control both sides of the transaction.  Still, I got the feeling he was thinking I had sour grapes for this firm.

Anyway, one of the listing competition to his property was listed with this very same firm; and, they failed to sell it.  Thus, the "new" broker for the property.

So, I had to explain to this Seller that the selling price -- though important -- was NOT the most important part of the selling process.  I unfortunately, had to explain to this Seller what truly happens when a large real estate firm comes along and tells a Seller that they have +/-6,000 agents worldwide searching for a buyer for his property.  (Not True!)

In truth, ONE agent will be doing a whole lot of cold calling.  They will call every hotel owner they can think of and ask if they are interested in a Las Vegas hotel.  I can already tell you, the cold called person is going to say yes.  (All hoteliers world wide are interested in a Las Vegas Hotel.  The problem has always been the price.  Las Vegas hotel properties prices are too high for most hoteliers.)

Anyway, since I don't think I convinced him, I left the meeting thinking I just wasted my time.  Since I already have offers on other Resort Properties in the $50 to $500 Million range, I thought it best to go back to working on those transactions to make sure they close.

It also reminded me of when my Real Estate Broker's license was hung with the large international firms: I did learn a lot about CRE during this period. BUT, that the fact that I would receive only about 35% of the earned commission fee when I was doing 90% of the work still sits unsettling to me.

Now, there's no need for me to bash the international real estate companies, so I will let the following experiences I have had be your guide to your own judgement of me.

While at this international firm, I was once called by a secretary there, "The hardest working broker she ever saw that earned so little money."

That sounds really bad, doesn't it?

But it was true. I grew up knowing that IF you went the extra mile for a client, your effort was always noticed by the right people.

So, as an example, a large national apartment company executive once said to me just off the cuff while discussing Las Vegas apartment locations, "David, you are the baseball player that runs out the ground ball to second!" Really? Me? I don't even like baseball. (I know I am a sick puppy of a man.)

Another example, is a local Las Vegas convenience store owner who said to me, "I picked you to sell my under performing stores because you are the only real estate broker who didn't lie to me."

(At first, I thought he was joking?) Then, I remembered that during the listing appointment, I wondered why he was asking me questions that I thought he should have known the answers to.)

Then, there is the largest real estate deal I have ever been involved in: Konami Gaming (The +/-$16 Million Build to Suit For Lease.)

I received a call from the HR VP of the local office. She asked that I come over to discuss Konami's plan to move to a larger location. After an initial meeting with the local office President, my next meeting -- to my surprise -- was with the Konami Gaming CEO.

We started out to look at buildings in only one area in particular just south of McCarran International Airport. And as we drove, we "looked" at various buildings. I soon got the impression he had already seen these before -- at least from the outside.

I did end up -- the last building on my list which he had NOT seen -- showing him my only listing in the area.  And, while on the way to the building, I asked him IF Feng Shui was going to be in integral part of his decision making process.

He looked at me incredulously. I felt doomed. (I thought I had just blown the deal because he was Japanese and Feng Shui is Chinese.) To my relief, he said yes. And asked me IF I had knowledge of Feng Shui? I told him I only had a limited knowledge of it and I told him the little that I could remember.

As we toured my listed building, he took note of the items about the building that were NOT Feng Shui.

Later, after our viewings were complete, and I was driving him back to his Las Vegas office, empty handed, the Konami CEO said that out of the six brokers he drove with to look at property, I was the only RE Broker to ask him the Feng Shui question. I now knew he was impressed with me.

And since I felt like I didn't find an appropriate building for him, I parked on a vacant parcel that fronted Sunset Road and Bermuda. This parcel has an unobstructed view of McCarran International Airport; and was large enough for a +/-115,000 SF building.  This is when I asked the CEO IF building his own building to his specifications would be a more economic alternative for him. Looking at the view, he replied he'd talk to his board.

It only seems now like it was a few days afterwards when the HR VP called me and said the CEO was impressed with me, my knowledge and my suggestion to him. She was calling to arrange our next meet when he returned to Las Vegas from Tokyo so we could start the paperwork for a Build to Suit For Lease.

Long story short (Too Late?), that's what they did.  (Recently, they enacted the Purchase Clause in the lease and they now own the property.

So, IF you don't know me, I may seem aggressive. IF you do know me, I may seem bossy. AND, I really do NOT like baseball. (Boring.)

But, as the previous secretary said, I try way too hard for my clients for them to NOT work with me.  And IF you don't work with me, you will never know just how hard I really do work for my client's business.

And if you do decide to let me work for you, you will find out why I don't want to be just one of many when I stand out so well on my own. (Sorry to pause to pat myself on the back.)

AND, I do NOT need the (artificial) backing of an international real estate firm to be successful in selling your property.

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

Tuesday, May 26, 2015

Women! Commercial Real Estate (CRE) is NOT an exclusive Men's Club!

Many times I have seen news stories outlining where women are paid less then men! OR, how women want -- no demand -- equality!

Well, in the 24 years I have been a Real Estate Broker, I have Sold only a few properties to women.

Is that my fault?  I have said this before, and I feel I am repeating myself over and over and over, again and again.

Women! Commercial Real Estate (CRE) is NOT an exclusive Men's Club!

But do these women listen to me?  Hell, No.  And, through the years, I have noticed that numerous women will complain about Men Not Listening to them.

Well, whether you are a man or a woman, from my perspective: Woman need to show men that they can invest and work in the Commercial Real Estate (CRE) field just like a man.

Do you women want Men to treat you as an equal?  Then, women must start playing in the same arenas as men and one of the most lucrative arenas in the world is CRE.

So, instead of complaining you are NOT being paid the same as men, start being a CRE mogul and see IF that changes men's perception of you.

And when you do start acquiring CRE property, please be kind and contact me first.  I will be more than happy to show you how CRE pays you back over the long term.  You may have: "smart people' managing your money.  But, part of money management is diversification.  And CRE does just that!

For more Information about How? a Woman can get started in acquiring CRE property, contact David Howes at: david AT davidhowes DOT net or 702-501-9388

Wednesday, May 20, 2015

Internet Idiots Ruin Humorous Comment!

The Internet is a frustrating place most of us go to for various reasons during our day.  It can be a place to learn, explore, and find interesting articles/topics to read as we meander through the world wide web while either working, playing, or just fighting off boredom.

The Internet tries to appease everyone.

I use it primarily to find owners of various properties in and around the Las Vegas, NV Valley.  And, I have learned that many owners of commercial real estate in Las Vegas are located in other states. And, trying to find these people can be grueling.  So, at times, I will foray into the world of Hollywood gossip.  Since I once worked on Films and TV shows decades ago, I like to read about celebrities and what they (or what their PR people say) are doing.

And, once in a while, I will place a comment here and there on one site or another trying to be humorous or reflective of my own life.  It's a release of the daily stress of searching for owners.

My mistake is I will write about what I know and with the Internet, you (I) should know better.

Most people who comment, will take what you say at face value.  They seem to appreciate the humor of a situation.

However, there are the idiots who for no reasonable reason take what you comment out of context. They make up implications about your comment that are completely not true. And, it is so alarming to read these misunderstandings(?).  (I can only assume that is all it is.)

So, lesson learned.  Comments be damn!

I will keep to myself and forever refrain from comments...(except when they are truly stupid, ignorant, or calling me unpatriotic! Or, ...)

:-)

For help with all of your Las Vegas CRE acquisition/distribution needs...

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

Thursday, May 14, 2015

Dumbest Purchases made by Athletes-Celebrities!

Proof positive that Athletes, young and not so young, made bad decisions that led to their financial ruin.

I still find it amazing that these men made such bad financial decisions and yet they never considered using this same money to acquire a NNN income property.

This has to be filed under the (What were they thinking?) category.

http://sportschew.com/dumbest-purchases-made-by-athletes/?v=o4&utm_source=Outbrain&utm_content=

(Copy and paste in your browser to read article.)

And, even today, there are well located CRE income properties that can solidify the young athlete's  financial future -- IF they could just get out of their own way.

Just because you have a whole lot of money now, doesn't mean that, that money will continue to make you money unless you invest it wisely and diversify to include NNN income properties.

Sigh!

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

Wednesday, May 13, 2015

8% Cap Rate in Las Vegas? Sorry, They are All Gone!

Last June 2014, I wrote this blog because I was being called by "out of state" investors wanting to acquire Las Vegas CRE at an 8% Cap Rate or better -- as one investor told me.

Well, it's been a year now and the Cap rates have actually 'Gone Down!'

This means, that the prices of CRE in Las Vegas are getting higher -- and other investors are buying these properties.

So, once again, I feel I have to re-address the issue:

For several years months now, I have been working with a couple of Buyers who are still searching the Las Vegas Valley for an 8% Cap Rate.

Unfortunately, for them, they are ALL gone.

The 8% Cap Rates went away about two years ago when Owners began to realize they were getting multiple offers for their property and/or they no longer "needed" to sell.

But, Not all properties are in such a rosie position.  Several Owners that I know are still struggling to make their loan payments and are still upside down at the end of the month.

But, when you come to Las Vegas expecting a steal, and you find out that a 7.5% Cap Rate is the best you are going to do, then, you shouldn't be wasting my RE Broker's time.

Walgreen's across the US are going for +/-5.5% Cap Rate.  Here in Las Vegas you might be the high bidder at a 6.75% Cap Rate.  But, IF you think an 8% Cap Rate should do, you will be out of luck.  There are no Walgreen's in Las Vegas selling for an 8% Cap Rate.  AND, you are foolish to be thinking that for any property in Las Vegas right now.

IF you are truly interested in acquiring a Las Vegas NNN investment, then contact me and we'll start the search.  But, 7 or 7.5% is going to be the the best sales price.

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

Monday, May 11, 2015

Self Driving Cars! Here they come, Ready or Not!

Whether you are ready or not, self driving cars are coming.

The set back is, at least in California and Nevada, a person MUST be sitting in the drivers seat!

I don't think I am ready for this, because I can barely sit still in any other seat in a car anyway.  And, Yes, I am a back seat driver.

This control while driving has been and will probably be, for the rest of my life, a mental -- giving up of control while driving -- problem.  So, relinquishing control over driving my car to a computer, is one of those "things" I don't want to do.  Sorry.  But, I like driving.  I like pretending I am always in a race.

So, please enjoy the self driving accident story below -- even IF the self driving cars were NOT at fault.

http://www.usnews.com/news/business/articles/2015/05/11/ap-exclusive-self-driving-cars-getting-dinged-in-california

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

Tuesday, April 21, 2015

Chewing Out the Local Managing Director of a National Real Estate Firm for Lying!

I have been sitting on this for several months or so. I wasn't sure how I wanted to present this.

Anyway...

A while back, I was trying to get information on a property that was listed with a national real estate firm here in Las Vegas, NV. The agent steadily would NOT return my calls; nor even reply to my email requests.

So, I decided, since it was a bank owner property, to resend an email to the agent, and include a cc of the message to the bank asset manager so they could see I was interested in helping a client buy the building.

Not one day later, the managing director of the national real estate firm calls me to say that I had violated the law in contacting their client.

Now, I know that this was a lie, but he insisted that contacting a listing client was in fact a violation of Nevada law. (It isn't.)

I said, I did that because "your agent" refused to return my call or reply to my email.
He said, his agents were busy and didn't have time to return "non essential" inquiries.

Unfortunately, this is where I lost it. I chewed him out with such vulgarity, I can NOT recite the words here.

Paraphrasing, I called him stupid, unqualified to lead, and a LIAR! I did NOT pull any punches.

Now, IF you as a real estate agent or broker are going to lie to me, be ready for a full force retaliation. OR, just don't lie in the first place.

As far as I am concerned, this local office of this national real estate firm, is full of self righteous, arrogant, agents who think that double ending deals should be the only way to sell real estate. And, IF they happen to have another local broker on the deal, it is beneath them.

Now, I moved to Las Vegas in 1994, I did interview with this company way back then, and, I decided that it was NOT right for me. (I don't like being pigeon holed into doing only one aspect of real estate.)

So, on this transaction, I eventually found another property nearby which my client bought. And, as far as I am concerned, the managing director and most of the agents at this one national real estate firm can kiss my....

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

Monday, April 13, 2015

Attention Athletes & Celebrities! Net Leased Investments Help Soothe Relations with Greedy Parents/Relatives!

Now, I understand what Phillip Buchanon was going through.  His Mom demanded $1 Million for reimbursement for raising him.  This in itself is pretty sad.

However, there was a better way of paying her back for supplying him with food and shelter while he was growing up.  He was smart to NOT give her the $1 Million directly.  Instead, he bought his Mom a house.  However, he should NOT have even done that.

What he should have done was acquired a net leased property, and out of that monthly rental income money that he would receive, just paid his Mom a monthly paycheck.  Of course, she would have had the usual tax deductions from the payroll check.  And, his Mom -- being an unsophisticated investor -- would have complained about that.  But, in the long term, his finances would have been pretty steady -- given the history of NNN investments the last ten years.

Unfortunately, this is NOT the only case of family/relative greed ever.  Many, many young athletes/celebrities want to do right by their families when they are suddenly thrust into the world of high income through professional sports draft processes; or, even if they have sudden financial success in just about anything; such as: suddenly having a higher income because of a song that sells millions of copies, or a movie that explodes at the box office.

Usually, regular life goes on after these events.  And, for most, their life usually doesn't change with a song, or movie, or a sports drafting process.

But just in case, you need to have a back up plan.  Because this is where you will find your true friends, loving family, etc.

Once the sudden financial success has happened, you should then contact some one like me, a real estate broker, and we move forward with the acquisition of a NNN Investment.  This purchase should secure that financial gain you just received -- as best it can -- and then you start earning the passive monthly income.  From this acquisition, it should help you secure your standard of living and help Mom with hers.

The downside is Mom will have such a mental focus on receiving that one time $1 Million payment, she will be upset that you have decided to give her the money one month at a time.  But, you have to understand that to give her a lump sum $1 Million, she will most likely spend through it in little to no time at all.  And, have nothing to show for it in the end.

And Draft Prospects, with the NFL draft just around the corner....

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

Thursday, April 9, 2015

Even with 200 Store Closings, Walgreen's should remain as a good NNN Investment!

I had to re-read this article twice; and then double check with another news source.  But, after all that reading, I decided that Walgreen's should stay as a good NNN Investment given that the "new" Owner of Walgreen's "Boots" from the UK, is doing what all company buyers do: cut out the fat to make the profitable Walgreen's more profitable.

Does this mean that the store you just acquired or were thinking of buying will remain open?  I don't know.  All of us will have to wait to see the "list."

Anyway, here is the article I read and then re-read.  (Just copy and paste in your browser to read.)

http://www.wsj.com/articles/walgreens-posts-higher-earnings-expands-restructuring-program-1428579564?mod=WSJ_hp_LEFTWhatsNewsCollection

More later -- as it unfolds in front of us.

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

Monday, April 6, 2015

Dumb Owners who think they know more about Real Estate than an Experienced Broker!

I have debated with myself for more than a week on this topic because I didn't want to insult a good client.

However, after many days and nights of thinking about this, I have come to the realization that the bad client involved in this has never had any respect for me as a person or my profession in general.

Since the bad client has bought and sold several properties through the years, he "thinks" he knows more about real estate than anyone else.  Even though, I have +/-23 years of experience in real estate and loans.  He may have +/-10?).  And, just because he has bought and sold several properties through the years, he has only asked me to help him maybe once -- and then, he was such a bad client, I vowed to never help him ever again.

Well, the good client who has trusted me through the years came to me a couple of years back and asked me to help him and his partners with a small shopping center they own in Las Vegas that they were upside-down on.

I said I'd give it the 'good ole college try!'

Leap forward up to a few weeks ago, my listing on the property has expired.  Now, I had suggested to the partners that they should try to have their loan bought by an investor I know.  You see their loan, which was originated by a bank, was acquired by another lender -- who bought the loan from the bank a few years ago at a large discount.  The partners do have some money to their names and the bank just wanted to remove the loan from their books to strengthen their FDIC position during the economic downturn.

However, the 'new' lender assigned an asset manager at that time to this loan.  This asset manager turned out to be a real 'jerk.'  He was going to make these men pay their loan off in in full to get out of their loan which they had all personally guaranteed.  Now, when a bank sells a loan, they usually do NOT sell the loan at face value.  They usually sell it at a discount so they can get the debt off their books. (This is another topic I can approach in the future.)

Anyway, after a year of me trying to convince the 'jerk' the property wasn't worth what the loan value/payoff was, the lender assigned another asset manager to the property.  Now, the 'new' asset manager was amendable to selling the loan to an outside source.  You see, I found an investor who I have worked with in the past -- and who has experience buying and selling real estate loans -- to contact the new asset manager to negotiate a loan buy.

Now, I tell my good client, I found someone to acquire their loan.  I tell him the plan and, then they could; 1) deed the property to the investor; or, 2) pay the investor off (plus a handling fee) and they would own their property free and clear and their guarantees would then be void.

Anyway, this investor made an offer to buy the loan, He was waiting for a response from the lender. When he hadn't heard in an appropriate amount of time, he called the 'new' asset manager.  The investor was told by the 'new' asset manager, he was negotiating a loan pay off with the current owners. I was surprised to hear this.

I immediately called my good client and asked him what was going on?  He said that the bad client who was also a partner had suggested that they handle this themselves and that they don't need an outside intermediary to buy the loan for them.

My good client told me that the bad client had suggested that they offer more than what the investor was offering.  I asked my good client: "Why would you do that?"

The good client replied, 'that the (bad client) felt that, that was more of a fair settlement on the loan and he didn't want the investor (whoever it was) coming back at them on the guarantee. (Does this make sense?) The investor was doing me a favor and he was going to void the guarantees once the deal was done.

After all of this, I am still waiting to hear IF this is going through.  The investor is upset because he now thinks I was using him as leverage for the partners (not true, since I did NOT know they were going to do this) and he is refusing to help them ever again.

And the bad client, who is a short sighted business man, is now on my never, ever help ever again for anything list where I should have kept him right from the beginning.

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

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!

Thursday, February 19, 2015

Las Vegas Casino Resort Hotels For Sale!

If you have been following my blog, you undoubtedly have seen several postings about Las Vegas Resort Properties that may/may not be available in the Las Vegas Metropolitan area.

Since the Buyer MUST compensate me for my endeavors, I must ask that the authorized signatory for your company be the one to sign a Non-Circumvent, Confidentiality and Commission Agreement.

A telephone call to me telling me how much of a good guy/gal you are simply won't work.

So, as of today, there are three potential Resort Casino Hotels which could be acquired.  They range from --- well, let's just say for the sake of lowest common denominator without giving out  more information than is needed at this time -- it will run you more than $250 Million and they go up from there.

All offers to acquire any of these Resort Casino Hotel Properties will require that you disclose yourself fully; All persons that will be holding 5% or more ownership interests will be required to disclose their complete personal and financial capability; you will be subject to Nevada Gaming Control Board preliminary background check -- and this will also be done by the Resort Owner and it is absolutely necessary you be vetted.  The reason is that they do NOT want to become involved in anyone who may/may not be shady characters.  You do NOT have to be stellar!  You just MUST be honest.

And, they obviously do not want to be barraged by unqualified persons who are only simply looking for proprietary information.  This will NOT be given until/unless you have passed muster of the current Owner's vetting process.

Lastly, IF you even think you may NOT be Nevada Gaming Control Board Approved, then please do NOT waste my time.  You do NOT have to be squeakily clean, however, in terms of criminal activity or other illegal marks on your record, it is best you disclose everything.

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

Wednesday, February 18, 2015

Never help family with real estate! - Mike Sitren

Twenty something years ago, Mike Sitren was the very first real estate broker I ever worked for.  He was a very short, stout man who was in his 60's.  I soon learned that Mike was well liked by his clients; and NOT liked at all by other real estate brokers.  And, he seemed proud of that.

You see, Mike was always telling me to tell your clients the truth.  And, he was insistent on that. And, I always understood his reason why: When you lie to a client, you disrespect them, he once said.

"It is truly NOT that hard to be honest in real estate.  Most clients already know enough about real estate to get themselves into trouble," he would say.  "Our job as a client's broker is to show them the way to a successful -- hopefully -- profitable sale.  And, the profit was to the client with the broker receiving a fee for rendering service."

I always thought that was the way to go.

Anyway, a few years ago, my very own Mother was selling the last parcel of land that she and my Dad owned on Cape Cod.  My Mom never, ever called me to even ask for my advice prior to putting the property on the market.  (This probably turned out for the best.)  Anyway, she listed with a person she was friends with because he was a "new" real estate agent and she wanted to help him get his business started.  As it turned out, he was very, very inexperienced.

And, I did NOT find out about the sale until one day, while talking to my Mom on the telephone, she started complaining about "how" the transaction was going.  The Buyer wanted a second 30 day extension; and the Buyer wanted a sales price reduction, The Buyer refused to do the "round table close." (Massachusetts for some stupid reason believes only attorney's are capable of closing a real estate transaction.)

Anyway, the Buyer was holding up closing.  I asked my Mom, "Why didn't you just take the deposit as non-refundable and have them put another deposit into escrow to do an extension?"

She replied that she didn't know she could do that.  She said, "It was the Buyer's money."
Then, I asked, "Why are you telling me this now?"
Her answer, "I thought you could help."
I replied, "I could have IF you had included me from the beginning."
I told her it was too late for me to get involved. I would be interfering in another broker's transaction.

I proceeded to tell her to have her "new" agent send the Buyer -- who by now was disclosed to be another RE broker, who was trying to flip the property on my Mom -- a notice that escrow was being canceled and the Buyer's deposit was being forfeited to the Seller.

My Mom said, "She couldn't do that.  She would be in a law suit she couldn't afford."
I said, "Unfortunately, that is exactly what you have to do.  Otherwise, the Buyer/Broker would be "stealing" the equity in your property."

She relented, and the agent sent the notice, The Buyer closed within a few days.

Later, she said, while talking, that, that "trick" worked.  I reminded her that picking the right broker/agent was key to a successful real estate sale.

She asked me "How did you know the Buyer was trying to re-sell the property, I reminded my Mom, that I have been a working Real Estate Broker for 20 years.  You learn "things" as you go along."

Anyway, I knew Mike Sitren was right about helping family -- even IF it is your Mom.  She would have fought me all along and IF it wasn't a successful transaction, I would still be getting the blame to this day.

NOW, when it came time to help my "Know It All Younger Broker"....  I will spare you.

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