Poker Pro faces Felony Charges about Casino Debt

Years ago, when I first met the Retired Casino Owner/Manager who I am very good friends with today, he said to me at lunch one day that most Poker Professionals lose money playing poker.

I was astonished because of how they are portrayed on TV.  You win a million dollars, you should be set for a long time.

But, he continued by saying that a poker player needs to win 51% ALL of the time to make any money.  And, he said that like 90% never, ever win anything if they win anything at all.

So, even though this Professional Poker Player had won millions of $$$'s in tournaments through the years, he has lost millions of $$$'s more.

Which means, he loses more than he ever wins, thus his inability to repay the markers.

So, when I saw this article today, I wasn't surprised that this poker player is being charged with writing bad checks.

http://lasvegassun.com/news/2016/sep/09/poker-pro-faces-2-felonies-over-215k-in-casino-deb/

And, as it states in the article, when a casino issues you credit, under Nevada Law, you are technically writing a check to the casino even though it is referred to as a "Marker."

The casino issues the marker as if you have the amount of the marker in your bank account.  Fortunately, they will give you a set time to repay them -- if you lose.  (If you win, all is forgiven.)

Unfortunately, for this Professional Poker Player, he understood this when he signed the marker,  But, he truly didn't have the money to pay them back.  So, the Wynn Resort -- using the Nevada bad check writing law -- is charging him with writing a bad check.

Everyone understands that the House never loses, correct?

With that in mind, my advise to you who think you have a system to win at any casino: Don't sign for a marker unless you know that you have the ability to wire the money to the casino when you lose.

Oh, I have a better system for beating the house in Nevada: and it is a better way of "winning."
Buy a NNN income property.

Then, the checks issued to you have your name on them as the payee; and the tenant is the one paying you money on a monthly basis.

Now, that's a sure fire way of a Win! Win!

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

Trump: Flimflam man?

A few months ago, I did an Internet search for businessmen who became presidents.  Some were senators and congressmen before becoming president.

But, these supposed businessmen who were elected president had one thing in common: They were all in the lower half when ranking them as successful presidents.  (I think the highest was 26.)
Anyway, on the opposite end were the successful Presidents.  These men all had one thing in common: they were failed businessmen.

And, by far the most successful president ever was even considered a failed lawyer.
Go figure. (Or, Google this yourself to verify.)

Now, as for Trump's "Successful" Las Vegas Tower.  People may look at it and wonder how this became so successful.

Well, it was headed into foreclosure in 2010-11.  How do I know this?  Well at that time, a Los Angeles real estate investor client, called me to ask if I could do him a favor and get him quality comps for the Las Vegas Strip condos.

I asked, 'Why?"  (The reason I asked is because I don't sell residential real estate -- at least not individual properties.)

Anyway, he told me that the bank holding the note had contacted him to see if he'd be interested in acquiring the loan.

(Now, this is not unheard of since lenders do this all the time. (It's one of the factors that led Wall Street into their collapse in 2008.))

Anyway, I got the condo comps and sent it to him.

He decided to NOT purchase the loan because, upon receiving the comps, he knew the bank was asking way too much per unit for him.

Later, when talking to this very same investor about another property, I asked what had happen to that loan.

He said that he was told by the bank that Phil Ruffin had paid it off.

(Apparently, Phil still owned the land separate from the tower and wasn't going to chance losing his investment in the land to the bank foreclosing on the tower when the condos didn't sell.)

So, if Phil didn't mention this as a Trump success at the Republican Convention, I guess Phil would know first hand.

Lastly, I doubled checked the ownership on this property recently and most of the units are currently owned by Hilton Vacation Timeshares.  Phil sold the remaining unsold condos to them after he had started to use this building as a timeshare component of his TI Resort Property.

So, if Trump is heard talking about how successful his Las Vegas Tower has been, remember, here is another building with the Trump name on it where he only owns the condos on the 33rd floor.

I guess getting your name on a building you no longer own is something to brag about.

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

Las Vegas CRE with +/-8% Cap Rates are NOT selling! Why?

You know, I believe that anything is possible.  I think it's the optimist in me.  So, when the economy turns and I see deals starting to come along, and they turn to steals, this is when I believe that I can help any investor buy any Las Vegas investment property.

However, the problem I am having today is kind of complicated.

You see, there is an election going on in the US and both candidates are either well liked; or hated.

The sad thing about this is -- since I am subscribed to several property listing services -- I am being barraged with other CRE company's emails claiming that they have SOLD property in surrounding states at such a high price (or low Cap Rate) that right here in Las Vegas, Sellers are struggling to even attract investor's attention at +8% Cap Rates!

I am, after all, more than willing to help a Seller get as much money for their property as long as the Buyer is willing to accept the Seller's price as a great deal (maybe a steal) from acquiring a real estate property.

What confuses me more than anything else is that our +8% Cap Rates are a steal!

Especially when a McDonald's in Southern California sells for a 3.54% Cap Rate!!  OR, a Walgreen's in Arizona Sells for a 5.33% Cap Rate!

I find this not only confusing, BUT unbelievable!  Why would an investor buy such a property at such a high price -- just because it is located in another state?

IF you are NOT one of these investors, or you are and are now just realizing your mistake, please send me an email and I will gladly send you the latest on the better than average CRE properties that are currently available.

I appreciate your support.

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

Is the Las Vegas CRE Market Going South?!

Had lunch with the retired gaming executive that I have come to know by living and working here in Las Vegas, NV.

At lunch, he said that he had heard that one of the national real estate firms located in Las Vegas, NV could be closing it's doors before the end of the year.

Now, he did say which one; but, for the sake of NOT spreading rumors -- at least until I can verify this information -- I will just let that simmer.

This information was told to him by an agent he knows that works at that very office.  And, she also said that they have only closed three sales or escrows this year since January, 2016.

And, because they are in the prestigious high end office with their monthly rent so high, the agent told him that she was leaving and was going to get out of the real estate business altogether.

Now, a day later, I attended a mixer that a major national bank held.  When I arrived -- fashionably late -- I saw that there were only maybe three or four CRE agents attending.  The rest were all bank employees from various divisions of the sponsoring bank.

As I was greeted by a bank employee I know, I asked her why the CRE agent/broker attendance was so poor?  She embarrassingly said something to the effect that most of the invitees (real estate agents/brokers) were to busy and didn't RSVP.

Oh, really, was my reply.

I then told her about the major CRE company that I had heard only closed three sales this year.  She replied, that she had heard that, too!

So, I wonder.  If a national real estate company -- given that it is a franchise -- can't close sales and maintain their office; I feel so lucky that I have been able to, that I should travel to Prim and stand in 110 degree heat to buy a lottery ticket.

Then, again, I would probably get mauled by a Polar Bear before acquiring the winning ticket. (That seems to be my luck.)

Anyway, I think I will stick to doing what I am doing, because what I do seems to still be able to put sales deals together and close escrows when needed.

And, if it is true that Las Vegas CRE is about to go south -- again -- then, you need to contact me now, so we can put together a game plan for moving forward once this 'new' recession hits us.

I am ready when you are...

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

Athletes bilked out of Millions!

My first question is: How does this happen?
My second question is: How do I convince these very same athletes that placing so much of their money with a money manager is NOT a good thing to do!

http://www.latimes.com/business/la-fi-rgt-fraud-20160621-snap-story.html

I know, I know, I am talking to the wall.

The few celebrity athletes that I know, do know other athletes; and they have a frat type aura that they help and/or recommend these supposed ethical money managers to each other.

Unfortunately, they should be more like the Jamal Mashburn type of athlete.  He took charge of his money; he invested in long term CRE properties; and he is one of the "former" athletes that is truly a success story.  And, Keyshawn Johnson is another.

What did Jamal do?  Well, he went out and through his retirement years bought something like 80 NNN properties with national credit tenants paying him a nice monthly income.  And, his property expenses are paid by the tenant.

Excellent Job, Jamal!  Hope you see this and contact me about Nevada NNN Properties!

What, don't believe me when I say Jamal has built a wealth worthy of everyone's envy?  Why don't you take a look for yourself, then?!

http://hiphopwired.com/2015/09/30/jamal-mashburn-owns-more-than-80-franchises/

Now, if only these "bilked" athletes had been interested in Net Investment property just like Jamal rather than playing like they were wealthy.  Instead of depending solely on a "recommended" money manager, they could have contacted me and I would have (possibly) diverted such potential loss into long term financial gain.  And, it might have looked something like Jamal had done years earlier.

Then, again, I might as well hit my head against the wall.
For one: I would have saved my breath; and two: I'd have done less talking...

More importantly, it might draw more attention to me and a very important post career message.

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

Looking For a CRE Steal in Las Vegas? What about a Great Deal @ +/-9% Cap!

In the past I have written about Las Vegas CRE Cap Rates.

But, most investors I deal with on a regular basis truly don't understand how Cap Rates work.

Now, I don't mean to insult anyone, but I do need to explain that as long as long term interest rates are set at a number so low, the cause/effect of those low rates will keep CRE selling prices high -- which means low Cap Rates!

You see, if you get a loan at 3 or 4 percent, Cap Rates will remain at 5 to 6 percent.  It's just fundamentals. (Please contact an economist for further explanation.)

Anyway, back to my theme...

A local property owner contacted me last week to ask me if I could help him find a buyer for a property he acquired out of foreclosure a few months ago.  You see, he re-leased the property to the existing tenant on new five year lease; and now wants to sell where he would make a small profit. (I always consider $100,000 a small profit.)

Anyway, I took the property information, sent it out to six or seven experienced property owners I had grown to know through the years and waited for their response.

One, called me right away and said: "That property is Crap! Find me a Good Deal!"

Not insulted, because I do understand this investor's thinking.  He was actually the one who wanted me to find him a Walgreen's at an 8% Cap Rate. (They currently don't exist anywhere in the US.)

Anyway, I had to explain to him that the tenant's lease was a new ink not dried five year lease, with a five year option.  I told him he would actually be buying this property at a 9.5+/-% Cap Rate.  In essence, this is a steal!

So, the tenant isn't a national credit corporation; the tenant only has this single location; and he had been very, very busy operating his auto repair/tire business here for many, many years.

Is the property old?  Of course.  The building was built in 1970.
Was the lot large enough for his use? Yes, it is!  It is on a .51 acre parcel right on a corner. (And, it is fenced!)
Is the street traffic busy enough? Yes!  It is addressed on a heavily traffic street that runs east west across the Las Vegas Valley.
Plus, there is a Lowe's and a Walgreen's in what I term: "Within Throwing Distance." (Now, I know for a fact that I can't throw that far, but you get the idea.)

Still, the price, the newness of the lease, the fact that the tenant had been there for a long, long time and is paying a good monthly rent of $5,200 NNN per month, you would think that this might be flip-able in the near future(?).

Well, if you buy at a 9.5% Cap Rate -- when long term interest rates are at 3-4%, all of you should be picking up your cellular phones and calling me ASAP!

Asking price? $750,000!  Selling price? $650,000.

What are you waiting for? 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

Another Las Vegas "Strip" Property For Sale!

There have been a lot of 'hits' on my web site about Las Vegas Resort Properties.  Several have been searching for "Strip" Properties.

Fortunately, there are properties located on the Las Vegas Strip that could be acquired.  (And, I am direct to one Owner who will compensate me for bringing them a Buyer.)

For a First Time Las Vegas Blvd Buyer, the price may seem too high!  However, since the property falls under the Clark County Gaming Overlay; and, it is located within the correct part of the "Resort Corridor," the Owner is being smart in their pricing.

Most surrounding properties have or will make +$100 Million in EBITDA annually.  Some, will earn +$300 Million.

And, the property is large.  If thinking of going bigger, it could hold +/-10,000 rooms in hotel Towers that could reach +/-500', it is also large enough to include a Mall, and has enough frontage along the "Strip" for profitable restaurants or retail shops.

Also, the Owner is willing to compensate me for bringing a Buyer.

If you think this fits your acquisition criteria, then click on the Las Vegas Casino Information button located in the right hand column; Print the Non-Circumvent Form; Have your President or CEO fill it out completely (authorized signatory's only); and scan and email it back to me.  This is necessary so that I know that everyone stays honest with each other.

And on it, I ask that the Buyer pay me 1%.  That is there only if the property in question doesn't actually fit, I can, without hesitation, find you another property?

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

What other people think (of me), is none of my business!

About 20 years ago, I learned about this quote.

When I first heard it, it was attributed to A.L Williams. (Yes, the Prime America guy.)

And, every now and then, especially when I start feeling as if "others" around me (business and personal relationships) are invalidating me, I have to force myself to NOT reply or respond to anything they are saying.  I do my best to just let them vent and then, I try to ignore them as much as possible.

You see: when "others" are being critical (invalidating) of you, they are disrespecting you.  In my case, as a real estate broker for 25 years, I am the most knowledgeable about real estate within my family and small circle of friends.

But, since my sibling family members like to refer to me as being "Bossy," this form of criticism always comes across as disrespectful -- even though they think it is being helpful.  And, I believe the reason for their disrespect is that I do have a better working knowledge about real estate than they have.  However, I believe this makes them jealous.  And that jealousy is what leads them to being so disrespectful of me.

Fortunately, my 'clients' refer to me as "Knowledgeable,"  So, I will take this criticism gratefully.

For example: one of my younger brothers thought he should get into real estate to buy and rent out houses.  He was going to grow his real estate portfolio and become rich.

So, once he owned a few properties, loan rates went down, so he decided, back in 2005 or 2006, to refinance the three residential properties he owned.  Back then, I warned him to NOT refinance ALL of his properties at once with the same lender, because I knew his lender of choice would cross-collateralize his properties.

But, he said that wasn't going to happen, because he said the Loan Officer said that, that would NOT happen.

Then, last year, he tried to sell one of the houses.  Once in escrow, the lender send a payoff  amount for all three loans at the same time.  He decided to sue.  He lost his lawsuit.

So, now, I am NOT being boastful about this.  I am only emphasizing that I know more about real estate than a wanna be house owner landlord.

Am I sorry for his dilemma?  No.  I just wish he had listened to me (and I wish he had viewed my advice as being the truth based on my years of experience in real estate).  But, since to him, I was being "Bossy," he listen to "others" who were in fact, lying to him just so they could earn the loan origination fee.

Unfortunately, since he viewed me as being "Bossy," he is now in a situation where he has to sell all three houses at once to get out of the loan(s).

I can only be reminded what Mike Sitren told me years ago: Don't help family with real estate.  They will never appreciate your efforts.

So, if you are going to call me Bossy, because I suggest you do/do not do something in real estate, best of luck to you.  I don't need your invalidation and...

...what you think (of me) is none of my business.

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

Las Vegas Boulevard vs "The Strip!" There is a difference! Hint? North and South

Everybody in the World has heard of or has some knowledge of the Las Vegas "Strip!"

It is one of those topics that every so often gets tossed around every now and then and everyone who has ever visited Las Vegas knows everything about Las Vegas -- especially "The Strip!"

Well, did you know there is a good "Strip" and a bad "Strip?"

If you didn't, you are NOT alone.

Many, many people will read something about Las Vegas -- either because they are planning a visit; or, they are searching for a property -- and run into the phrase: 'located on the world famous Las Vegas "Strip!"'

In most cases, that might be true.  But, just because they have a Las Vegas Boulevard address doesn't mean that they are actually located on the "Strip!" And, if the property is located on Las Vegas Boulevard between Spring Mountain and Downtown Las Vegas, that "technically" is NOT "The Strip!"

Unfortunately, that is simply Las Vegas Boulevard.

"The Strip" is actually the part of Las Vegas Boulevard that runs from the 'Welcome to Las Vegas Sign' up to and might even include Wynn Resort and the Fashion Show Mall.  This is where Spring Mountain Road and it's cross street partner intersects Las Vegas Boulevard.  You know this intersection because this is where the Venetian is on the SEC; and TI is on the SWC.  And, Wynn is on the NEC.

So, nothing north of this location is truly "On the Strip," even though the casino owners of the properties north of this intersection will beg to differ.  You see, the Fontainebleau, Resort World, and that proposed new development Alon are all close to this intersection.  But, even though they claim they are on "The Strip," they truly are NOT.

To Prove my point, here is a link to aerial shots of "Strip" located Las Vegas Resorts that are on "The Las Vegas Strip." (You may have to copy and  paste in browser if link doesn't work.)

http://lasvegassun.com/photos/galleries/2016/feb/12/las-vegas-strip-aerial-view-february-12-2016/embed/

SLS, Circus Circus, and even the Stratosphere advertise that they are on "The Strip" when in fact, they are merely on Las Vegas Boulevard.  Of course, they justify this by saying they are located on "The North Strip."  But, that's just semantics, right? And, I would say that Trump Tower is NOT located on the Strip -- even though it is directly behind the new Alon (supposed James Packard project) development.

So, do most of you understand what I am saying?

"The Strip" has +100,000 people on average in foot traffic just about daily.  Las Vegas Boulevard to the north of Spring Mountain doesn't.

So, if you are a resort buyer, please beware of any property that is being advertised as: "On The Strip."  It is probably not.

If you have any questions about this topic, please click on the Las Vegas Casino Information button to the right, print the form, sign and email it back to me.  Once this is agreed to, I will be most happy to help you understand the difference.

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

“Tell Trump To Shut the F…. Up!”

I absolutely hate any and all political seasons -- especially pre-primary season when candidates from all walks of life are out to impress as many voters as possible.

I especially hate the ones who think invalidating other candidates or groups of people because they are just trying to appeal to the lowest common denominator.

Right now, the worst thing that could happen to the Good Ole US of A is: Donald Trump.  And, he knows it.

He has no chance of being elected, yet the news media covers him because - well, they don't know what stupid thing he is going to say next.

I have been trying for more than a year now to get a Middle Eastern Businessman to buy a Las Vegas Gaming Resort Property.  I thought I was very, very close to getting the offer approval from the Businessman's board/Investors when Donald Trump once again opened his big mouth.

By even saying he wanted to ban Muslims from coming to the US, Donald actually said to the world, I am too stupid to be president.  The thing is, Adolf Hilter did this back in 1928 or 1929 against the Jews.  We know how that turned out.

Granted, the US is NOT going to open concentration camps, but the rhetoric still stings.

Now, my Businessman client, on December 27th, sent me an email which said--- why don't I just let you read it for yourself:

I’m in Abu Dhabi right now (50 minutes drive from Dubai) attending a 2 days Board meeting,and to be honest with you we do have a huge investor on the Board who doesn’t want to even hear about investment in the U.S.A after Donald (Stupid) Trump comments banning Muslims from coming to America so he said “and Muslims Money are not coming to America too you Fool”

It is very tense right now as every one on the Board respect and Love this Guy!!, we'll see what happens.

“Tell Trump To Shut the F…. Up” would you please.please. Thanks.J.

So, if Donald is so far behind in the over all voter polls, why is he so popular in the Republican polls?
Oh, maybe it is because most Republicans are idiots just like him?  I truly don't think so.  But, Donald is truly demonstrating his idiocy.

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

Why I Left Lee Las Vegas - Part 3

So, just as this becoming a partner debacle was unfolding right in front of my eyes, I decided that I was no longer going to be involved with a company that allowed partners to screw the associates so much and so often.

I could go into stories from other real estate agents who worked there before, during and after me --about how the partners screwed these agents, but I think my story is enough.

Anyway, during my meeting with RH, where he was doing his best to describe his discontent for the partners NOT voting me to become one, he did say (maybe off the cuff) that some of the partners, had more say than others in the direction the office was heading.  And, the reason was they were being paid 94% of the gross total commission earned off of their deals.

WHAT?!  How does a brokerage survive if an agent is getting 94%?  (6% was to be paid to the capital investors in the office.)

I was surprised by this.  To me, top producers (maybe) got 75% or even 80% if they did lots and lots of closings in a month.  But, when he mentioned that SP and another founding partner were the ones being paid this high of a commission amount, and they were being compensated without a desk cost, I knew right then and there that the Lee Las Vegas Office partners were idiot businessmen.  (And, apparently, SP and this founder had been paid this amount for quite some time.)

I asked, "Why?"

He said it was because they were the top producers of the firm.

I was surprised.  But, then he let out a bomb shell that hit me like a nuclear blast.

He told me that ALL sign calls were sent to SP first -- so he could "qualify them."

I was shocked, "Even mine?" I asked.

He replied yes.

He explained that in order to make sure that the associates didn't let a qualified client slip through the cracks, the partners trusted SP to make sure the client was qualified to buy, sell, lease before a deal was made.

I had wondered why I wasn't getting as many calls on my signs.  Now, I knew.

AND, (a little while after my RH meeting) I talked to the receptionist and she (reluctantly) confirmed this was true.  I was so mad at this disclosure that I immediately called another Broker, who had in the past asked me to join his firm.  I immediately left Lee Las Vegas for good.

I went to work for the other firm and lasted there for only a year.  Shortly after joining there, I found out that PTB was going to join the firm, too.  He said, he had a disagreement with the partners after I left.  I know for a fact he was "let go" by the partners for commission stealing another agent who was a partner's wife!

(I always wondered why they let PTB go for doing that but NOT SP.  (I guess the wife relationship had something to do with it.)

Anyway, after PTB arrived, he asked me to work with him again.  I said no.

After being there for a year, another agent (let's call him GG) who had been at Lee Las Vegas too who left just before I did, called me and asked me to come work with him at a boutique firm that he went to.  Because of the situation with PTB at the firm, I felt it appropriate to leave and went to work at the boutique company.

There, GG and I worked for almost two years together, until the boutique broker felt I didn't earn him enough money.  That is when I started my own shop by myself.  Recently, GG joined me.

Anyway, since my departure from Lee Las Vegas, many other associates left.  A couple were promoted to partner and then they left for other firms.  Apparently, my honest approach to clients, and other brokers was being too honest for Lee Las Vegas.  I left Lee in March, 2006.

It has been almost 9 years since I left, Lee Las Vegas.  I heard last summer that they defaulted (to my knowledge) on a leased space they had occupied, moved to another small office warehouse space closer to the 'Strip.'

And all the while, (I am still trying to confirm this) SP was still getting his 94% even though the company could NOT pay it's rent.  I learned that the last of the associates left just before they quietly announced they were closing.

Lee & Associates Las Vegas office closed it doors in June, 2015.

Now I know why Lee Las Vegas filed Bankruptcy back in the early 2000's -- it was to get out of a high rent office space they were in.  The space was well located and easy for clients to get to.

Also, I now know why certain other brokers around town, that became Lee Las Vegas competition had left.

As far as I am concerned, good riddance.

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

Why I left Lee Las Vegas - Part 2

PTB and I started off with a bang.

He had marketable listings that were (in hindsight) very good properties.

One that I marketed for him brought Konami Gaming into the fold.  I had heard through the grapevine, they were NOT happy with their current Las Vegas office they had leased; and, they were looking to not only move, but they wanted to buy an office warehouse.

After sending them brochures of various properties, I received a call from their Human Resource VP.  She said that the president wanted to meet and discuss the properties I had sent over.

The meeting went well with PTB giving a good presentation.  However, they were leaning more to buy than lease.

So, I went to work searching for a buy situation.  Nothing seemed to fit.  Anyway, after several months and some going back and forth with Konami, I ended up with a call that said the CEO for Konami Gaming out of Australia wanted to see some of the properties with me that I had sent over.

So, I met with the Corporate CEO and we drove around looking at what was available.  During this time, I got the impression that he had seen most of what I was showing him.  (The one property he hadn't seen was the listing PTB had.)

Our listing was big enough, but the owner steadfastly didn't want to sell.  So, I purposefully ended our drive on a large 12 acre lot at Bermuda and Sunset.  It is the parcel where their building now sits with a view of the McCarran International Airport.  Here I said that even though the owner of this lot didn't want to sell either, I thought we could structure an offer where in a few years, Konami could buy the building from the owner that the owner would build to suit to lease.

The CEO was impressed.  I also asked if Feng Shui would play apart in his decision. (He looked at me incongruously.  (I think I surprised him.)

He said I was the only broker that he has met that asked him that.  And, he said Yes, it would play an important part of his decision.

With this knowledge, I began to point out the Feng Shui aspects of the lot we were currently sitting on.  The CEO said he would get back to me.

PBT turned out to be very helpful in completing this build to suit for lease -- with the provision that Konami Gaming could buy the building in the future.

Anyway, during this period my mother-n-law had been diagnosed with stage 4 lung cancer and had been given "only a few months" to live.  So, PBT took over and handled the lease negotiations, etc. If not for being copied on the emails through the lease negotiation process, I think I would have never known the full extend of the progress.

I did tell PTB that I could make meetings if needed.  But, he never included me in the meetings and I felt betrayed since I had initiated the whole deal.  PTB said he just wanted me to focus on taking care of my wife's mom.  I thought this kind of him -- but it was unnecessary.

Fast forward: With this lease deal closing, I learned that the commission was going to be the largest that Lee Las Vegas had ever earned.  And, this commission qualified me to become a partner.  The entire commission was more than $1 Million.  Everyone was congratulating PTB on a deal well done.

Well, I stopped by the office about the time my Mother-n-law passed away.  It was a difficult time for my wife and I.  She had become an intricate part of our daily lives.  (She was our day care provider for our two children as well.)

As you can sense, something was about to happen to me, again.
I arrived at the office and PTB wanted to meet with me in his office.  You guessed it, PTB wanted a larger share of the commission because he had done so much work to get this to close.

My first thought was what an A--Hole!  Here I thought I could trust him when all the while he was planning on cutting me out of commission, too!

Even though, PTB had privately congratulated me for being able to "find" the client, deep inside, I was pissed.  But, I tried to let it go.  I was looking forward to being qualified to be a partner.

PTB and I agreed to split the commission 55/45 which since then, I have regretted.

Anyway, since I was up for being approved as a partner; and the partners annual meeting was within the month, I just wanted to be on the agenda.  I thought I had proved that I was worthy.

The Office Manager did ensure that I was on the agenda.  So, I waited for word of them approving me as a partner.

After the annual meeting, I sensed something was wrong.  PBT came into the office and completely avoided me.

The then back as President of Lee Las Vegas again was RH.  He came to my desk and asked to see him in his office.

He started by saying (in order to be a partner) I had to apologize to SP for accusing him of lying and stealing when RH claimed that SP said he hadn't.  I told RH that I wasn't going to apologize for telling the truth and I said SP should be apologize to me.

As you can tell, that wasn't going to happen.  He said that I needed a unanimous vote to become a partner.  I asked what the vote was.  He said 6-2.  (Another partner I had a falling out with earlier who was a jerk, right behind my back, tried to steal another client I was working with.  This partner even attempted to make me look as if I was stealing the client from him.)

Back to my story, I told RH that the office manager and I research the bylaws for the corporation for becoming a partner.  I told him there was never any mention of a vote ever having to be unanimous. It just called for a majority.

RH, then, backtracked and said it wasn't an official vote. (RH has since deceased.)

Part 3 will conclude this story.

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

Why I left Lee Las Vegas - Part 1

From February, 1998 to March, 2006, I worked as an Associate for Lee Las Vegas.  The reason I left is one that most of the people who had left Lee Las Vegas through the years would agree with.  I just thought that giving you my reason, will give you an insider look at how NOT to run a Real Estate Brokerage.

Anyway, here is my story:

I had been working in residential real estate since first obtaining my Real Estate license in California in October of 1991.  I then earned my California Broker's license in 1993.  In 1994, I earned my Nevada Broker's license and then moved to Las Vegas in November of 1995.

From November, 1995 to February of 1998, I worked at a variety of real estate companies -- not fully satisfied with residential sales and loans.

In February, 1998, I was more than ready to move onward and upward.  It was recommended to me by a Public Relations person that I should get into Commercial Real Estate.

Initially interviewed with the managing director at the local CB Commercial (since then it has been bought and re-maned CB Richard Ellis).  I came away from that interview like they didn't want me.  The feeling I got was because I would NOT bring them enough listings for them to market.

Apparently, they only want agents who can bring potential listings to the table.  As for some one who works the telephone well and will spend hours hunting for qualified buyers, that wasn't their cup of tea -- so to speak.

So, I spoke with the PR person again, and she recommended that I talk to RH, who was at the time the President of Lee Las Vegas.  After an initial interview with RH, he introduced me to (for the sake of a potential legal hassle, I will refer to this agent as Selfish Person or SP for short) -- who at the time was the top producer for Lee Las Vegas.  Anyway, he did have many, many family members who helped him get to partner very quickly.  (Which was good for him.)

However, we eventually had a falling out because he felt that my request to split a small lease commission 50% was way too much commission for me to be paid.

Unfortunately, this small lease commission was for a small deal with Bigelow Aerospace, which due to my being okay with cold calling people, I brought to Lee Las Vegas.

You see, I had heard that Robert Bigelow -- who at the time was still a Nevada Licensed Real Estate broker -- wanted a large warehouse to house the initial work he was funding for a hotel in space concept Robert Bigelow wanted to develop.  He needed to lease a large enough warehouse for just 12 months.  My commission check was $575.00.  However, SP said that I had asked too much -- as I mentioned above.

Then, as this was going on, I had found the +/-12,000 SF warehouse which they made an offer on; it was accepted, and we entered escrow.

The purchase price was $540,000.  The procuring commission was $16,200.  And, you guessed it, SP  only wanted me to be paid $1,620 or 10% of the total commission.  It was, 'what I had earned' since I was paid more than I had earned on the leasing deal we had concluded earlier.

In the meantime, Bigelow's secretary called me and asked me if I could find Robert some land so that he could build a campus where he could actual manufacture proto-types for his hotel in space.  I did and sure enough, I had to have SP involved again.

This is where the problem started.  I let SP handle this escrow.  I don't know what I was thinking, but since he hadn't kept me informed on the earlier one, why was I letting him handle another.  This was a big mistake on my part -- which I will explain in a minute.

This time, I found them 20 acres in North Las Vegas where they could build the facilities that they needed so they could develop and test a hotel in space proto-type for orbiting earth in space.

When the time came to close, I asked SP about this and he told me that it had "fallen out of escrow."

Disappointed, I did what every good broker does and what I usually do: I called the client back.  To my surprise, I was told they did indeed close on the land.  I went back to SP and asked why he lied to me?  He said I hadn't earned enough on it to get a split of the commission.  He gave me what he thought I was owed: Nothing.

Because of this, I complained to the powers to be (Some of these people are now deceased or out of the business.)

Well, I went to the powers that be and accused SP of stealing commission, lying to me, and just wanted what he should have paid me.  (Unfortunately, the powers to be sided with SP because he was their top producer.)

Needless to say, since SP had cut me out of the commission completely.  He wanted the entire +/-$26,000 for himself.  So, I stopped working with SP completely.

At this point I almost quit Lee Las Vegas.  But, I was talked out of it by one of the powers that be. Looking back, I should have listened to my wife and mother-n-law. (They said to leave and work on my own.  I didn't need them.)

Anyway, I relented and agreed to work with the other broker because he did have some marketable listings.

(As a side note, I did end up working one other deal with SP.  If I could have, I would have cut him out of the deal except for that fact; His "cousin" owned land where the Buyer I found, Pavestone, wanted to build a batch plant.  It was zoned correctly for their use -- and SP knew that.  Fortunately, I stayed on top of that escrow and did walked away with half of the commission on this.

Anyway, after that, I began to work with PTB, who had talked me into staying and to work with him, (He eventually was voted by the partners as president because RH wanted to step down.)

PTB knew of my ability to work hard to find buyer clients and wanted me to work on some of his listings.

Part 2 will continue this story.

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

Happy Holidays!

Happy Holidays! to ALL and let's all have a profitable New Year!

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

If You Want to Acquire Resort Casinos, You Must Contact Me!

are on LinkedIn

If you have the appropriate amount of money in cash (not many of you will qualify if you don't have at least a couple of hundred million and more); the necessary experience; and the ability to close quickly; email me for a Non-Circumvent, Confidentiality, and Commission Agreement.

Yes!  You will have to compensate me regardless of how real estate fees are paid in your neck of the woods.  And, this is for Principal's Only.  As a matter of fact, only corporate CEO's, etc., should contact me.  Broker chains will NOT be honored.

So, if you are a principal, willing to compensate me and my partner, email your financial capability to: david@davidhowes.net.

If you qualify, I will reply with the form for your Authorized Corporate Signatory to sign.

Once the authorized form is received, I will disclose all the details about the subject properties at are available for purchase.

If you think this is a joke; or you just want to go fishing for property information, please don't email me.  You will be wasting your time and mine.

I have dealt with enough of you to know, who is for real; and, who is jerking me around!
Thank you for your co-operation.

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

Out of State Brokers only "think" they know Las Vegas!

Having lived and worked here since 1995, I have learned a thing or two about how 'business' gets done in this particular neighborhood of the country called Las Vegas!

One thing: Las Vegas commercial real estate (CRE) requires that you build a client base. So, in the 19 plus years of working and living in Las Vegas, I have developed relationships with 'key' people who will help me help you.

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

Now, most Resorts in general do NOT want to even deal with Real Estate Brokers at all. They think 'brokers' are an unnecessary element that just gets in their way.  I understand their plight.  I have seen, first hand, Real Estate Brokers  -- some from half way around the world -- way over-charge their Buyer clients simply because the Broker thinks the information they have (usually a rumor about what is for sale) is worth more than it actually is.

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 actually know what is going on and the advantages of that, is what makes me worthy of being hired by you rather than the real estate broker from Los Angeles, San Francisco, or even New York.  And, yes, 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 him 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 1% fee can be too much, too. So, I am willing to 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 a Las Vegas Resort.  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 to me.

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

I truly do NOT want to be a a part 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!

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 are 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 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.

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

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

"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

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

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