To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Las Vegas Commercial Real Estate, Investments, Net Lease, Land, Multi-Family, Resort, Hotel, Gaming Properties.
Showing posts with label Casino. Show all posts
Showing posts with label Casino. Show all posts
Friday, November 24, 2017
Happy Thanksgiving!
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Sunday, November 12, 2017
Las Vegas may break 2016 visitation record
Living and working in Las Vegas gives me a front row seat to some of the more exciting elements of Las Vegas.
So, when I read articles about Tourists flocking to our city, I understand the why Las Vegas Strip land prices are so, so high.
From all over the world, people know and want to travel to Las Vegas. I understand the "freedom" that Las Vegas gives people. Even if that Freedom is only a mental state of mind.
Rags to Riches; down to your last dollar and then hitting the Jackpot! I get it. The allure is too great to NOT to want to be apart of.
So, it comes as no surprise to me to read the Las Vegas Review Journal article about Las Vegas about to break it's own Visitation record set in 2016.
Las Vegas may break 2016 visitation record
You may NOT be a regular tourist to Las Vegas, but there are still some deals that are available for sale.
Recently, a local developer placed a brand spanking new multi-tenant retail building up for sale he just completed. He's asking a 6% Cap Rate. The center is located on the busiest street (IMAO) in the southwest part of the Las Vegas Valley.
Asking price is +$3 million.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
So, when I read articles about Tourists flocking to our city, I understand the why Las Vegas Strip land prices are so, so high.
From all over the world, people know and want to travel to Las Vegas. I understand the "freedom" that Las Vegas gives people. Even if that Freedom is only a mental state of mind.
Rags to Riches; down to your last dollar and then hitting the Jackpot! I get it. The allure is too great to NOT to want to be apart of.
So, it comes as no surprise to me to read the Las Vegas Review Journal article about Las Vegas about to break it's own Visitation record set in 2016.
Las Vegas may break 2016 visitation record
You may NOT be a regular tourist to Las Vegas, but there are still some deals that are available for sale.
Recently, a local developer placed a brand spanking new multi-tenant retail building up for sale he just completed. He's asking a 6% Cap Rate. The center is located on the busiest street (IMAO) in the southwest part of the Las Vegas Valley.
Asking price is +$3 million.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Climate Change Natural or Man-made?
If NOT into politics, you might want to avoid this blog post.
Since DonTheCon was Electoral College elected president, he has embarked on getting rid of "Unnecessary Government Regulations." I agree in a small part that the government does have some rules,/laws on their books that should be removed/changed.
But, when he appoints an EPA head who is a stanch supporter of the Oil Industry -- and this EPA Chief believes that the Oil Industry should be able to do what ever they want regardless of Cause and/or Effect on others health and well-being -- that's where I begin to have a problem.
Why? Profit!
I believe the Oil Industry thinks that they do NOT have to clean up after themselves. To them, cleaning up is too costly. Besides, oil comes from the ground. Why can't they just dump oil waste back onto the ground -- where it came from?
Everyone knows that the primary cause of air pollution is the gasoline engine. Attempts to make electric engines doesn't give the driver the sense of power and surge of adrenaline that a gas engine does.
(Even I have a gas powered car.)
But when any industry is allowed to run rampant and destroy the air, water and earth we live on, I believe there is only so much the earth can take. Humans are changing the planet and NOT for the better.
Even Stephen Hawkins says that we will destroy Earth because of the above aforementioned demand for Profit. He even gave a year by which we will be successful in destroying the only planet we are capable of living on in the known universe -- 2600.
But, hey, that Profit is so, so important. We need to keep the oil industry going. Because without the oil industry, we just might be able to slow down or even stop climate change; have cleaner air and water; and, definitely have less pollution in general.
But, since profit is so important, we need to keep destroying human lives because - well, there are already too many humans occupying Earth. So, humans will continue to destroy Earth so when there is no Earth left, at least there will still be profit!
Can Earth right itself without humans changing their course? I don't know.
But as these pictures from New Delhi, India indicate, I don't think so.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Since DonTheCon was Electoral College elected president, he has embarked on getting rid of "Unnecessary Government Regulations." I agree in a small part that the government does have some rules,/laws on their books that should be removed/changed.
But, when he appoints an EPA head who is a stanch supporter of the Oil Industry -- and this EPA Chief believes that the Oil Industry should be able to do what ever they want regardless of Cause and/or Effect on others health and well-being -- that's where I begin to have a problem.
Why? Profit!
I believe the Oil Industry thinks that they do NOT have to clean up after themselves. To them, cleaning up is too costly. Besides, oil comes from the ground. Why can't they just dump oil waste back onto the ground -- where it came from?
Everyone knows that the primary cause of air pollution is the gasoline engine. Attempts to make electric engines doesn't give the driver the sense of power and surge of adrenaline that a gas engine does.
(Even I have a gas powered car.)
But when any industry is allowed to run rampant and destroy the air, water and earth we live on, I believe there is only so much the earth can take. Humans are changing the planet and NOT for the better.
Even Stephen Hawkins says that we will destroy Earth because of the above aforementioned demand for Profit. He even gave a year by which we will be successful in destroying the only planet we are capable of living on in the known universe -- 2600.
But, hey, that Profit is so, so important. We need to keep the oil industry going. Because without the oil industry, we just might be able to slow down or even stop climate change; have cleaner air and water; and, definitely have less pollution in general.
But, since profit is so important, we need to keep destroying human lives because - well, there are already too many humans occupying Earth. So, humans will continue to destroy Earth so when there is no Earth left, at least there will still be profit!
Can Earth right itself without humans changing their course? I don't know.
But as these pictures from New Delhi, India indicate, I don't think so.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Thursday, October 12, 2017
Sexual Harassment in the Workplace - It's not limited to Hollywood!
Sexual Harassment is prevalent in our society.
Now, not everyone will suffer it directly. But, a lot of people will.
Since I talk a lot (probably too much) through the years, I have talked to various women who were going through some form of sexual harassment right in the very workplace I was working.
Fortunately, I only encountered one sexually harassment event which was years ago by a gay man who was a co-worker while working as a bartender during my college years.
I passed it off as him being drunk even though he tried to kiss me. And, with that incident in mind, I have not tried to harm any woman I have worked with.
So, when I hear of incidents where one person was approached by another in some manner implying an unwanted sexual advance, whether it's a woman or man as the aggressor, I understand their plight.
What people don't seem to realize is that if you make another uncomfortable, whether in the form of a friendly gesture or not, if those incidents make that person uncomfortable, you are sexually harassing that person.
So, when today, I read an article in the Daily Mail stating that several women who subscribe to LinkedIn, have complained that "Connections" are trying to secure dates with them even though they are married, these 'men' being the aggressor are actually sexually harassing these women.
So, a woman on LinkedIn posts an attractive profile picture of herself. That doesn't mean they are looking for a date -- even if they were currently single!
And, I have through the years of being a LinkedIn member, have several connections that are attractive women. I don't think I have ever sent them a message suggesting a date.
(I am even seriously thinking of deleting my LinkedIn account because I can NOT trace any real estate deal I've ever done to have been originated through a LinkedIn connection.)
With apologies to the want to be Hugh Hefner Playboy types, I'm NOT interested in a date with any woman on LinkedIn - or elsewhere. I don't care how attractive your profile picture is.
I have two woman in my life that take up 99% of my non work time: Wife & Daughter. That's all I need.
But with this Harvey Weinstein guy, he's thrown this entire sexual harassment thing into the open.
I for one, am glad this has been made public.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Now, not everyone will suffer it directly. But, a lot of people will.
Since I talk a lot (probably too much) through the years, I have talked to various women who were going through some form of sexual harassment right in the very workplace I was working.
Fortunately, I only encountered one sexually harassment event which was years ago by a gay man who was a co-worker while working as a bartender during my college years.
I passed it off as him being drunk even though he tried to kiss me. And, with that incident in mind, I have not tried to harm any woman I have worked with.
So, when I hear of incidents where one person was approached by another in some manner implying an unwanted sexual advance, whether it's a woman or man as the aggressor, I understand their plight.
What people don't seem to realize is that if you make another uncomfortable, whether in the form of a friendly gesture or not, if those incidents make that person uncomfortable, you are sexually harassing that person.
So, when today, I read an article in the Daily Mail stating that several women who subscribe to LinkedIn, have complained that "Connections" are trying to secure dates with them even though they are married, these 'men' being the aggressor are actually sexually harassing these women.
So, a woman on LinkedIn posts an attractive profile picture of herself. That doesn't mean they are looking for a date -- even if they were currently single!
And, I have through the years of being a LinkedIn member, have several connections that are attractive women. I don't think I have ever sent them a message suggesting a date.
(I am even seriously thinking of deleting my LinkedIn account because I can NOT trace any real estate deal I've ever done to have been originated through a LinkedIn connection.)
With apologies to the want to be Hugh Hefner Playboy types, I'm NOT interested in a date with any woman on LinkedIn - or elsewhere. I don't care how attractive your profile picture is.
I have two woman in my life that take up 99% of my non work time: Wife & Daughter. That's all I need.
But with this Harvey Weinstein guy, he's thrown this entire sexual harassment thing into the open.
I for one, am glad this has been made public.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Monday, October 2, 2017
Sad day when fun and relaxation turns into a living horror!
Soft Target is what it's called.
That's when an individual takes advantage of a large peaceful crowd of people minding their own business and enjoying the evening entertainment when the despicable happens.
A massacre of unbelievable portions disrupts the peace and tranquility and the massacre leaves 58 people dead and 515 people wounded. (As of my posting this blob.)
And, the coward 'terrorist' (let's be honest, that's what he is) then kills himself as the police are about to move in.
I always ask afterward: if this person is truly set on committing suicide, then why kill others before killing yourself? As a lay person, that doesn't make sense to me.
But, as the 'news' comes forth as the police investigate, it becomes apparent that this Stephen Paddock had planned this out thoroughly.
He had a 32nd floor suite that almost overlooked the event grounds on the east side of Las Vegas Blvd. He had at least ten weapons n the suite.
And whether or not a few or many were slaughtered, he didn't care.
I hope he has an endless afterlife in hell. If he thought his actual living life as bad, I hope Lucifer makes his afterlife even more painful.
http://www.msn.com/en-us/news/breakingnews/who-is-stephen-paddock-las-vegas-shooter/ar-AAsMY12?OCID=ansmsnnews11
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
That's when an individual takes advantage of a large peaceful crowd of people minding their own business and enjoying the evening entertainment when the despicable happens.
A massacre of unbelievable portions disrupts the peace and tranquility and the massacre leaves 58 people dead and 515 people wounded. (As of my posting this blob.)
And, the coward 'terrorist' (let's be honest, that's what he is) then kills himself as the police are about to move in.
I always ask afterward: if this person is truly set on committing suicide, then why kill others before killing yourself? As a lay person, that doesn't make sense to me.
But, as the 'news' comes forth as the police investigate, it becomes apparent that this Stephen Paddock had planned this out thoroughly.
He had a 32nd floor suite that almost overlooked the event grounds on the east side of Las Vegas Blvd. He had at least ten weapons n the suite.
And whether or not a few or many were slaughtered, he didn't care.
I hope he has an endless afterlife in hell. If he thought his actual living life as bad, I hope Lucifer makes his afterlife even more painful.
http://www.msn.com/en-us/news/breakingnews/who-is-stephen-paddock-las-vegas-shooter/ar-AAsMY12?OCID=ansmsnnews11
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Tuesday, September 12, 2017
Small Resort Casino For Sale in Las Vegas!
Recently, my Inbox has received inquiries about Las Vegas Resorts For Sale.
There are some -- not many -- that could be acquired.
The problem is -- and will always be -- that potential Buyers want to acquire Resort properties in the same manner as if they are acquiring a Net Leased Property in their own back yard.
Or, they think that because they are who they think they are, the Seller should (overtly) respect them fully and sell at the Buyer's suggested low-ball price.
Unfortunately -- and this goes for all would be buyers -- it doesn't work that way when it comes to Las Vegas Resort Properties.
I can't explain it any more simplistically than if a property is being marketed at $6 Million an acre. And, surrounding comparable sales indicate $7 Million an acre, why are Buyers pushing for a sale at $3 Million an acre?
For Example: a small extended stay resort motel property with a small casino (8 slots only) though this property is zoned for an Unlimited Gaming Casino (Full slots, table games, etc.) that sits right smack inside the Clark County Gaming Overlay (which means there are no restriction to developing an unlimited gaming casino) isn't going to be sold cheaply.
And Buyers arguing with me that the Net Income from the property means the value is less than the asking, baffles me.
The Net Income of the property may be a contributing value, but when it comes to land value being more valuable than the business being run at the location, trying to acquire this based on the Net Income isn't going to cut it.
Many, many times, I've had brokers outside of Las Vegas tell me that the value of a resort property is solely based on it's Net Operating Income.
I have to over explain to them that if the land is worth much, much more than the business net income, that's the sales price.
(This scenario is never, ever going to change.)
To which I always respond, "that may work in your neck of the woods. But, it doesn't work here."
I've had offers on listings that were for a fraction of what the properties eventually sold for.
I realize that Buyers are trying to get the most equity they can at the time of purchase; I also understand that the Sellers are trying to get the most bang for their buck for the equity value.
So, if you think a 200 room resort with a small casino, Full Alcohol and located within the Clark Gaming Overlay is worth $20 Million when comparable sales say it's worth $21 Million, send me an email.
(Psst! The abandoned and unfinished Fontainebleau just sold for $25 Million an acre. Don't tell anyone!)
After executing the appropriate paperwork, I'll send you the property details.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
There are some -- not many -- that could be acquired.
The problem is -- and will always be -- that potential Buyers want to acquire Resort properties in the same manner as if they are acquiring a Net Leased Property in their own back yard.
Unfortunately -- and this goes for all would be buyers -- it doesn't work that way when it comes to Las Vegas Resort Properties.
I can't explain it any more simplistically than if a property is being marketed at $6 Million an acre. And, surrounding comparable sales indicate $7 Million an acre, why are Buyers pushing for a sale at $3 Million an acre?
For Example: a small extended stay resort motel property with a small casino (8 slots only) though this property is zoned for an Unlimited Gaming Casino (Full slots, table games, etc.) that sits right smack inside the Clark County Gaming Overlay (which means there are no restriction to developing an unlimited gaming casino) isn't going to be sold cheaply.
And Buyers arguing with me that the Net Income from the property means the value is less than the asking, baffles me.
The Net Income of the property may be a contributing value, but when it comes to land value being more valuable than the business being run at the location, trying to acquire this based on the Net Income isn't going to cut it.
Many, many times, I've had brokers outside of Las Vegas tell me that the value of a resort property is solely based on it's Net Operating Income.
I have to over explain to them that if the land is worth much, much more than the business net income, that's the sales price.
(This scenario is never, ever going to change.)
To which I always respond, "that may work in your neck of the woods. But, it doesn't work here."
I've had offers on listings that were for a fraction of what the properties eventually sold for.
I realize that Buyers are trying to get the most equity they can at the time of purchase; I also understand that the Sellers are trying to get the most bang for their buck for the equity value.
So, if you think a 200 room resort with a small casino, Full Alcohol and located within the Clark Gaming Overlay is worth $20 Million when comparable sales say it's worth $21 Million, send me an email.
(Psst! The abandoned and unfinished Fontainebleau just sold for $25 Million an acre. Don't tell anyone!)
After executing the appropriate paperwork, I'll send you the property details.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Thursday, September 7, 2017
Back In The Saddle! Okay, I'm just back to work...
Arriving to work Tuesday morning, my friend, golf buddy and retired (though still actively licensed) Gaming Executive asked about playing golf Saturday.
I said, "Ok!" It couldn't hurt to lose a few more golf balls. (I don't play with the good ones I find while searching for my lost cheap ball.)
Anyway, he asked about the Alaskan Trip (I replied, "It was GREAT!")
The Spouse & Myself on board the Norwegian Pearl in their Bliss Nightclub!
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
I said, "Ok!" It couldn't hurt to lose a few more golf balls. (I don't play with the good ones I find while searching for my lost cheap ball.)
Anyway, he asked about the Alaskan Trip (I replied, "It was GREAT!")
Then, he dropped a bomb-shell!
He has the latest on the Large Las Vegas Resort Casino that he knows is (about to be) For Sale!
Oh, well. I can't wait but I am going to have to.
If you want to know which one, email me your contact information & I will send you the Non-Circumvent Agreement.
This must be signed and delivered with Proof of Capability to close a Billion dollar deal.
(Not kidding. The property in question will cost you!)
:-)
Anyway, I'm relaxed and ready to go. Are you?
Look forward to your emails!
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Wednesday, August 23, 2017
Alaskan Cruise Excursion for a CRE Retreat!
If you missed me recently, I will apologize.
I know just how hard it is to enjoy yourself without my input.
But, I am sure you can manage for the next week to get along with yourselves without me.
Okay, I am NOT that important; nor anything I write here is so important that you can't get along without me!
The wife and I decided earlier this summer to just get away. It's been way too long since we had a vacation and thought being together in cooler weather might be what the 33 year relationship needed.
So, I will see you all when I get back.
Right now, I am going to enjoy some down time watching a glacier melt and try my hand at some of tourist things being offered.
I hear it's cold in Alaska and will be bringing a lot of warm, dry clothes.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
I know just how hard it is to enjoy yourself without my input.
But, I am sure you can manage for the next week to get along with yourselves without me.
Okay, I am NOT that important; nor anything I write here is so important that you can't get along without me!
The wife and I decided earlier this summer to just get away. It's been way too long since we had a vacation and thought being together in cooler weather might be what the 33 year relationship needed.
So, I will see you all when I get back.
Right now, I am going to enjoy some down time watching a glacier melt and try my hand at some of tourist things being offered.
I hear it's cold in Alaska and will be bringing a lot of warm, dry clothes.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Wednesday, July 26, 2017
The dog days of (potential) economic recession!
On September 15, 2015, when I thought "things" were about to get really, really better (economically speaking), I wrote a blog about the Chinese devaluing their Yuan.
(Here is part of what I wrote:
Algebra! It is the curse of me. To this day, I do not understand: x+y=z! Huh?
The odd thing is, my dad was an electrical engineer; thus, algebra was easy for him.
My wife, also, understands algebra. She uses it everyday at her commercial interior design firm.
I even have an uncle who has a phD from HAAV-VAARD who I know understands algebra, too!
But, most of you, are probably just like me. Algebra is a foreign language -- much like currency exchange.
I bring this up because, like you, I read that China devalued it's Yuan. (Please do not try or even think of attempting to explain this to me. I am lost just thinking about it.)
So, as of this AM, one Yuan is equal to $0.16 US.
I suppose this is good. However, since I know very little about currency exchanges, I can only assume that the Chinese government did this to prevent anymore money from leaving China. With the Yuan devalued, I guess it buys less foreign property and/or goods. Am I right or wrong?
So, since this investor's money is coming through China, I don't understand the algebra of it.
How does depositing money into China, thus turning it into Yuan, help you acquire a Las Vegas Resort for less while also gaining more in value?
One day, I will probably understand. But, I am not going to just sit around waiting for the answer to come to me.
So, was I off my much?
I ask because I just received notice from my Co-Broker Partner who lives and works in Australia that the Chinese Government is (essentially) halting any more Chinese firms from investing further in USA Real Estate.
Why? Your guess is as good as mine. From what I've read, the Government fears a cash shortage if anymore Yuan's are converted to Dollars and they leave the country.
(This relates to the algebra problem I mention above. =) )
Anyway, as I sit hear wondering just when this crack down on money exiting China (?) will end, I am hoping to between now and then, my survival mode keeps me aloft.)
The only thing I think right now is closing something.
Did I mention I listed a motel casino? Give me a call if interested in the details.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
(Here is part of what I wrote:
Algebra! It is the curse of me. To this day, I do not understand: x+y=z! Huh?
The odd thing is, my dad was an electrical engineer; thus, algebra was easy for him.
My wife, also, understands algebra. She uses it everyday at her commercial interior design firm.
I even have an uncle who has a phD from HAAV-VAARD who I know understands algebra, too!
But, most of you, are probably just like me. Algebra is a foreign language -- much like currency exchange.
I bring this up because, like you, I read that China devalued it's Yuan. (Please do not try or even think of attempting to explain this to me. I am lost just thinking about it.)
So, as of this AM, one Yuan is equal to $0.16 US.
I suppose this is good. However, since I know very little about currency exchanges, I can only assume that the Chinese government did this to prevent anymore money from leaving China. With the Yuan devalued, I guess it buys less foreign property and/or goods. Am I right or wrong?
So, since this investor's money is coming through China, I don't understand the algebra of it.
How does depositing money into China, thus turning it into Yuan, help you acquire a Las Vegas Resort for less while also gaining more in value?
One day, I will probably understand. But, I am not going to just sit around waiting for the answer to come to me.
I ask because I just received notice from my Co-Broker Partner who lives and works in Australia that the Chinese Government is (essentially) halting any more Chinese firms from investing further in USA Real Estate.
Why? Your guess is as good as mine. From what I've read, the Government fears a cash shortage if anymore Yuan's are converted to Dollars and they leave the country.
(This relates to the algebra problem I mention above. =) )
Anyway, as I sit hear wondering just when this crack down on money exiting China (?) will end, I am hoping to between now and then, my survival mode keeps me aloft.)
The only thing I think right now is closing something.
Did I mention I listed a motel casino? Give me a call if interested in the details.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Wednesday, July 19, 2017
Mom & Pop Casino For Sale!
When I established my web site many years ago, I truly didn't have faith in it leading to very many clients.
Well, at least the web site hasn't disappointed me.
Anyway, recently, my web site has allowed various real estate property owners to contact me.
To my surprise, one husband & wife team did give me a call to ask about selling their local casino.
Now, for you want to be casino owners, don't get too excited. Owning a casino is a full time 24/7 job. So, unless spending your time always "on the clock" isn't for you, then casino ownership may be a thing you'd let others do.
I say this because these mom & pop clients want to sell because of that fact.
Now, this is a local casino in Nevada. Unfortunately, it is NOT in Las Vegas. So, the bright lights of the Las Vegas Strip won't be shining in your eyes as you make your way to and from 'work."
But, this property is a fully licensed unlimited gaming casino and it does have 60 motel rooms and suites for your traveling customers comfort.
The property does have a steak house restaurant, a Chinese Restaurant and a lounge.
The property is a combined +/+9,500 SF property on a total of 1.94 acres right smack in the middle of town on 'Main Street.'
Unfortunately, as the husband owner said, they are directly across the street from their biggest competition.
The owner of this property is asking $3 Million.
So, that is all I can disclose at this time. You will have to email me for the Confidentiality Agreement in order to see the financial and property details. Any further information requires this signed document.
Now the owner says the price is the price, but I know there is some wiggle room.
Is it making money?
For that answer, the signed CA is required.
Plus!
I need to know a little more about you as the buyer.
So please be prepared to disclose your acquisition capability. I don't need it up front. But, your proof of funds will be required with any offer that is to be presented to the owner.
Once you've owned a casino for a while, you'll understand this tactic.
So,...
To Contact David Howes try: davidATdavidhowesDOTnet
OR; 7 0 2 5 01 9 3 8 8
AND Please #Follow David on Twitter: @DavidAHowes
Have a nice day!
Well, at least the web site hasn't disappointed me.
Anyway, recently, my web site has allowed various real estate property owners to contact me.
To my surprise, one husband & wife team did give me a call to ask about selling their local casino.
Now, for you want to be casino owners, don't get too excited. Owning a casino is a full time 24/7 job. So, unless spending your time always "on the clock" isn't for you, then casino ownership may be a thing you'd let others do.
I say this because these mom & pop clients want to sell because of that fact.
Now, this is a local casino in Nevada. Unfortunately, it is NOT in Las Vegas. So, the bright lights of the Las Vegas Strip won't be shining in your eyes as you make your way to and from 'work."
But, this property is a fully licensed unlimited gaming casino and it does have 60 motel rooms and suites for your traveling customers comfort.
The property does have a steak house restaurant, a Chinese Restaurant and a lounge.
The property is a combined +/+9,500 SF property on a total of 1.94 acres right smack in the middle of town on 'Main Street.'
(Obviously, NOT the subject property since this is no longer standing.)
Unfortunately, as the husband owner said, they are directly across the street from their biggest competition.
True, there are a variety of small restaurants, bars, taverns, sports bars -- all with gaming -- that are for sale in and around Las Vegas itself. But, this property is the only actual "casino" with motel rooms (that I know of) for sale in this region of Nevada.
The owner of this property is asking $3 Million.
So, that is all I can disclose at this time. You will have to email me for the Confidentiality Agreement in order to see the financial and property details. Any further information requires this signed document.
Now the owner says the price is the price, but I know there is some wiggle room.
Is it making money?
For that answer, the signed CA is required.
Plus!
I need to know a little more about you as the buyer.
So please be prepared to disclose your acquisition capability. I don't need it up front. But, your proof of funds will be required with any offer that is to be presented to the owner.
Once you've owned a casino for a while, you'll understand this tactic.
So,...
Monday, July 10, 2017
CRE Deals Come & Go! Some Fly - Others Die!
It's NOT too often I would be insulted by comments made by a Seller or Buyer.
When you work hard and try to accomplish the impossible, there always seems to be something that goes wrong and sets you back.
I like the analogy: Take two steps forward; one step back.
Hey! It's real estate and you never know what could happen until it does.
For example: my son and his wife recently told us they wanted to acquire a house. Okay. I asked could I refer you to someone?
He said, they were thinking of buying without an agent.
Now, having been in real estate since 1991, I had to go, "Woo!"
Why would you do that? (He and she have never purchased a home before, so I can see the obstacles mounting right in front of them.)
Anyway, I got the feeling that some one had hooked their ear about saving money by doing it themselves. (Sorry, folks! But, that doesn't happen! You just end up getting ripped off!)
Well, with the help of my wife -- our son's mother -- we think we've bridged that gap. (We'll see.)
Then, about a week later, a developer I know who owns an Off Strip motel wanted to talk to me on a Sunday. Okay, I understand that real estate might have to be a priority over the weekend. Well, during the call he proceeded to chew me out because the Chinese buyer I was dealing with wasn't moving fast enough for him.
(This requires some back story: the developer acquired this off "strip motel about 11 years ago to re-develop it. He has waited, and waited because the economy had gone south in the mean time. And, since development money had dried up; it has recently reappeared in Las Vegas. Lately, he started to make noise he was going to re-develop the motel again. BUT, he was willing to sell, too. After re-contacting the developer again, he set a couple of unrealistic deadlines to get him an offer.
Anyway, if you ever worked with Chinese buyers before, you know they tend to do things on their schedule -- not yours.
So, in the meantime, there were a few delays with the Chinese getting an offer started -- as is their MO.
Well, the Sunday morning call was to let me know, the developer wanted to deal directly with the Chinese group and I'd be paid anyway. He said he didn't think I had the experience to handle his transaction.
Okay, I'm insulted. But, I know this developer and he is an a--h---!
I took the information and proceeded to contact my co-brokering partner over seas. He speaks fluent Chinese. Well, he didn't like that idea and thought it fishy. He said 'let's look for another property.' Which I am doing.)
After wards, I was thinking about this situation, and came to the realization that the developer never, ever had any intention of selling. He was just hedging his bet against the economy here in the US until it improved. Which it has.
So, all those years trying to find a buyer for his property was -- well, it truly wasn't a waste of time. I was able to find other buyers while using his property as a prop.
No loss I guess.
So, my experience is questionable to this developer. NOT! It's his excuse to NOT sell his property and further to try and raise additional cash for his development. Oh, well!
One day we'll cross paths again. We'll see what has transpires in the meantime.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
When you work hard and try to accomplish the impossible, there always seems to be something that goes wrong and sets you back.
I like the analogy: Take two steps forward; one step back.
Hey! It's real estate and you never know what could happen until it does.
For example: my son and his wife recently told us they wanted to acquire a house. Okay. I asked could I refer you to someone?
He said, they were thinking of buying without an agent.
Now, having been in real estate since 1991, I had to go, "Woo!"
Why would you do that? (He and she have never purchased a home before, so I can see the obstacles mounting right in front of them.)
Anyway, I got the feeling that some one had hooked their ear about saving money by doing it themselves. (Sorry, folks! But, that doesn't happen! You just end up getting ripped off!)
Well, with the help of my wife -- our son's mother -- we think we've bridged that gap. (We'll see.)
Then, about a week later, a developer I know who owns an Off Strip motel wanted to talk to me on a Sunday. Okay, I understand that real estate might have to be a priority over the weekend. Well, during the call he proceeded to chew me out because the Chinese buyer I was dealing with wasn't moving fast enough for him.
(This requires some back story: the developer acquired this off "strip motel about 11 years ago to re-develop it. He has waited, and waited because the economy had gone south in the mean time. And, since development money had dried up; it has recently reappeared in Las Vegas. Lately, he started to make noise he was going to re-develop the motel again. BUT, he was willing to sell, too. After re-contacting the developer again, he set a couple of unrealistic deadlines to get him an offer.
Anyway, if you ever worked with Chinese buyers before, you know they tend to do things on their schedule -- not yours.
So, in the meantime, there were a few delays with the Chinese getting an offer started -- as is their MO.
Well, the Sunday morning call was to let me know, the developer wanted to deal directly with the Chinese group and I'd be paid anyway. He said he didn't think I had the experience to handle his transaction.
Okay, I'm insulted. But, I know this developer and he is an a--h---!
I took the information and proceeded to contact my co-brokering partner over seas. He speaks fluent Chinese. Well, he didn't like that idea and thought it fishy. He said 'let's look for another property.' Which I am doing.)
After wards, I was thinking about this situation, and came to the realization that the developer never, ever had any intention of selling. He was just hedging his bet against the economy here in the US until it improved. Which it has.
So, all those years trying to find a buyer for his property was -- well, it truly wasn't a waste of time. I was able to find other buyers while using his property as a prop.
No loss I guess.
So, my experience is questionable to this developer. NOT! It's his excuse to NOT sell his property and further to try and raise additional cash for his development. Oh, well!
One day we'll cross paths again. We'll see what has transpires in the meantime.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Tuesday, July 4, 2017
Happy 4th of July - Independence Day is here!
To show my Patriotic Spirit, here are some images of Las Vegas Fireworks!
Happy Fourth of July!
PS: (Now, I will prepare to dog sit two dogs that dislike anything that goes BOOM!)
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Fantasy!
Reality!
Happy Fourth of July!
PS: (Now, I will prepare to dog sit two dogs that dislike anything that goes BOOM!)
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Monday, June 12, 2017
Las Vegas Gaming Property Acquisition Do's and Don'ts
It's that time again where potential Las Vegas Gaming Properties -- may or may not be available for sale. And, I (feel as if I) have to remind ALL potential 'investors' that you simply can NOT expect the owners to be 'dumb.'
Not going to happen!
And, YES! Because I live and work in Las Vegas. I do know of several "gaming properties" that are for sale -- but the owners will NOT state (or allow me to state) that publicly.
Yes. There is a large parcel for sale that is listed -- but you don't want to buy that parcel because you will only receive slightly less than half of the total acreage fee simple. The owner of the 'other (slightly larger) half is never going to sell.
How do I know this? Simple: I know the owners.
Anyway, when I give you a price of a property; and I tell you that's the sale price, you can -- but it's not going to happen -- try to reduce that price it by saying the financials don't support that price.
In most Las Vegas gaming zoned property cases, the financials will never, ever support the selling price.
So, please take my word for it. The price I give you is the selling price.
Okay?
The reason I stress this is you have to remember that the current owners of these gaming properties know the value of their land. If the property is worth more as a tear-down, they already know that.
If the property is worth more via the financial statement, they know that, too!
So, if you are in the market for a gaming property in Las Vegas, be ready to acquire it at the stated market price!
The time for acquiring a gaming property as in a buy and flip, is gone.
In the reality of today's Las Vegas, the price of the property is the price!
And, unless you are going to buy and tear down, I suggest you stay on the sidelines.
An example of the last major company to come to Las Vegas, buy a gaming property at a rock bottom price, and trying to just paint and carpet to turn it around is failing miserably.
Of course, at that time they were saying just how proud they were to have been able to acquire the properties for below market value. But, when they didn't do anything more than paint & carpet, the sophisticated casino patron moved on to another resort property.
The casino properties they acquired were at or very near foreclosure; They paid pennies on the dollar and tried to run them 'As Is' just as cheaply.
The end result speaks volumes about this approach.
And, all the while, they continued to lose market share because of their cheaper than cheap corporate attitude.
How do I know, you ask? I live and work in Las Vegas, NV!
So, do you want honesty and a true to life assessment of the potential properties in question? If you do, then click the Las Vegas Casino Information Button in the right column, print, fill out with your company's signatory signing it, and email it back to me.
I need this form back BEFORE I release any information about any property to you that I know might be for sale.
Otherwise, Have a Great Day!
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Not going to happen!
And, YES! Because I live and work in Las Vegas. I do know of several "gaming properties" that are for sale -- but the owners will NOT state (or allow me to state) that publicly.
Yes. There is a large parcel for sale that is listed -- but you don't want to buy that parcel because you will only receive slightly less than half of the total acreage fee simple. The owner of the 'other (slightly larger) half is never going to sell.
How do I know this? Simple: I know the owners.
Anyway, when I give you a price of a property; and I tell you that's the sale price, you can -- but it's not going to happen -- try to reduce that price it by saying the financials don't support that price.
In most Las Vegas gaming zoned property cases, the financials will never, ever support the selling price.
So, please take my word for it. The price I give you is the selling price.
Okay?
The reason I stress this is you have to remember that the current owners of these gaming properties know the value of their land. If the property is worth more as a tear-down, they already know that.
If the property is worth more via the financial statement, they know that, too!
So, if you are in the market for a gaming property in Las Vegas, be ready to acquire it at the stated market price!
The time for acquiring a gaming property as in a buy and flip, is gone.
In the reality of today's Las Vegas, the price of the property is the price!
And, unless you are going to buy and tear down, I suggest you stay on the sidelines.
An example of the last major company to come to Las Vegas, buy a gaming property at a rock bottom price, and trying to just paint and carpet to turn it around is failing miserably.
Of course, at that time they were saying just how proud they were to have been able to acquire the properties for below market value. But, when they didn't do anything more than paint & carpet, the sophisticated casino patron moved on to another resort property.
The casino properties they acquired were at or very near foreclosure; They paid pennies on the dollar and tried to run them 'As Is' just as cheaply.
The end result speaks volumes about this approach.
And, all the while, they continued to lose market share because of their cheaper than cheap corporate attitude.
How do I know, you ask? I live and work in Las Vegas, NV!
So, do you want honesty and a true to life assessment of the potential properties in question? If you do, then click the Las Vegas Casino Information Button in the right column, print, fill out with your company's signatory signing it, and email it back to me.
I need this form back BEFORE I release any information about any property to you that I know might be for sale.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Friday, June 2, 2017
A Young Celebrity Who Understands the Value of Commercial Real Estate Investing!
I usually don't name drop.
I think it's beneath me. It is actually crude and truly uncalled for.
So, I am going to name drop!
1st: I have never met this person
2nd: I have never seen them perform.
3rd: I wasn't involved in this CRE Transaction.
But, I say, 'Good for Claire Sinclair."
I am so happy, that this young woman understands the value of CRE property. Why do I say that?
It's because she acquired an 8 plex!
Okay, most of you don't know what that is. In CRE terms, it is short hand for an 8 unit apartment building.
Why am I excited for her?
Because she is taking the chance that this 8 unit apartment building located in or very near Downtown Las Vegas will in the future enable her to earn income as a Bed & Breakfast!
She is taking money she has earned -- and is trying to raise from a social media web site -- to help her complete her desired rehab goal of making the 8 unit apartment property into a BNB!
I think it's great! I think she has her 'smart's on' about money, has a vision of herself in the future and she just might one day be another Mary Bartsas, or even another Margaret Elardi!
(If you don't know who these women are, Google them!)
Here is Robin Leach's article about Claire's quest.
If you are in a similar situation, or have a similar goal, you just need to...
Contact David Howes at: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
I think it's beneath me. It is actually crude and truly uncalled for.
So, I am going to name drop!
1st: I have never met this person
2nd: I have never seen them perform.
3rd: I wasn't involved in this CRE Transaction.
But, I say, 'Good for Claire Sinclair."
I am so happy, that this young woman understands the value of CRE property. Why do I say that?
It's because she acquired an 8 plex!
Okay, most of you don't know what that is. In CRE terms, it is short hand for an 8 unit apartment building.
Why am I excited for her?
Because she is taking the chance that this 8 unit apartment building located in or very near Downtown Las Vegas will in the future enable her to earn income as a Bed & Breakfast!
She is taking money she has earned -- and is trying to raise from a social media web site -- to help her complete her desired rehab goal of making the 8 unit apartment property into a BNB!
I think it's great! I think she has her 'smart's on' about money, has a vision of herself in the future and she just might one day be another Mary Bartsas, or even another Margaret Elardi!
(If you don't know who these women are, Google them!)
Here is Robin Leach's article about Claire's quest.
If you are in a similar situation, or have a similar goal, you just need to...
Contact David Howes at: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Whoever Coined the Phrase: 'Patience is a Virtue' never worked Las Vegas Commercial Real Estate!
Sure, waiting for something good to happen will leave you on the edge of your seat.
And, the opposite is true, too!
But, since I have been patient; and, I know I need to stay patient; something 'good' should (I mean) will happen!
But, I am tired of waiting.
I've run out of patience.
I was never a 'good' student when I 'had to wait.'
As a child growing up, I was the one student who wasn't diagnosed with one of those fidgety, anxious syndromes that caused teachers to look down on me as 'an unruly student.'
(Those diagnoses came along AFTER my time in elementary school.)
Anyway, back to the point...
There are properties available in Las Vegas right now that could be acquired for a good price. The problem with this is: I continue to run into buyers who are still looking for a 'steal.' (Unfortunately, those days have passed.)
But, for those who are interested, there are Las Vegas Casino Properties available for sale. But, you must download the 'Non Circumvent and Commission Agreement' attached to the lower right under Las Vegas Casino Information Button, fill out, sign, scan, and email it back to me (This is required in order to receive any details on those properties.)
Now, the Owner(s) require all potential buyers to provide them with their financial capability! For example: Proof of Funds!
AND, yes, they are looking for companies that are able to qualify for a Nevada Gaming License. Unfortunately, this is ALL prior to the release of any property information. So, get assembling your financial statements!
Also, for those who are interested, there are Las Vegas Commercial Properties available for sale.
Whether you are a beginner or small investor; or if you are capable of closing large Commercial Real Estate transactions, there is a property available for you. Just send me an email with your acquisition criteria and I will get to work.
AND, lastly, there are still properties that are "develop-able" OR "re-develop-able."
All you need to do is...
Contact David Howes at: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
And, the opposite is true, too!
But, since I have been patient; and, I know I need to stay patient; something 'good' should (I mean) will happen!
But, I am tired of waiting.
I've run out of patience.
I was never a 'good' student when I 'had to wait.'
As a child growing up, I was the one student who wasn't diagnosed with one of those fidgety, anxious syndromes that caused teachers to look down on me as 'an unruly student.'
(Those diagnoses came along AFTER my time in elementary school.)
Anyway, back to the point...
There are properties available in Las Vegas right now that could be acquired for a good price. The problem with this is: I continue to run into buyers who are still looking for a 'steal.' (Unfortunately, those days have passed.)
But, for those who are interested, there are Las Vegas Casino Properties available for sale. But, you must download the 'Non Circumvent and Commission Agreement' attached to the lower right under Las Vegas Casino Information Button, fill out, sign, scan, and email it back to me (This is required in order to receive any details on those properties.)
Now, the Owner(s) require all potential buyers to provide them with their financial capability! For example: Proof of Funds!
AND, yes, they are looking for companies that are able to qualify for a Nevada Gaming License. Unfortunately, this is ALL prior to the release of any property information. So, get assembling your financial statements!
Also, for those who are interested, there are Las Vegas Commercial Properties available for sale.
Whether you are a beginner or small investor; or if you are capable of closing large Commercial Real Estate transactions, there is a property available for you. Just send me an email with your acquisition criteria and I will get to work.
AND, lastly, there are still properties that are "develop-able" OR "re-develop-able."
All you need to do is...
Contact David Howes at: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Monday, May 1, 2017
Small Casino For Sale in Nevada!
I've had my web site for some time now.
But, it wasn't until recently, that my web site, actually provided a lead for a casino for sale!
And, this happened in the last two weeks.
So, now, I can honestly say, I have a 'Small Nevada Casino Motel' For Sale!
This property is small relative to any of the Las Vegas mega resorts. But, it is a stepping stone in the right direction for an entrepreneur looking to venture into the gaming business.
With the assortment or variety of any number of small restaurants, bars, taverns, sports bars -- all with gaming -- that are for sale, this property will allow an owner-operator to actual 'own' a "Casino." (It does also have motel rooms.)
The owner of this property tells me he wants to sell because he wants to 'get out of the casino business.'
I'd tell you more about this property, but because a Nevada Casino license takes a certain type of person that needs to be approved by the Nevada Gaming Control Board, I think you should email me your qualifying information prior to any disclosure of any property particulars.
Yes, it is going to run you in the millions of dollars.
So, if you think you'll qualify for a gaming license...
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
But, it wasn't until recently, that my web site, actually provided a lead for a casino for sale!
And, this happened in the last two weeks.
So, now, I can honestly say, I have a 'Small Nevada Casino Motel' For Sale!
This property is small relative to any of the Las Vegas mega resorts. But, it is a stepping stone in the right direction for an entrepreneur looking to venture into the gaming business.
With the assortment or variety of any number of small restaurants, bars, taverns, sports bars -- all with gaming -- that are for sale, this property will allow an owner-operator to actual 'own' a "Casino." (It does also have motel rooms.)
(This is NOT the Casino that's For Sale)
The owner of this property tells me he wants to sell because he wants to 'get out of the casino business.'
I'd tell you more about this property, but because a Nevada Casino license takes a certain type of person that needs to be approved by the Nevada Gaming Control Board, I think you should email me your qualifying information prior to any disclosure of any property particulars.
Yes, it is going to run you in the millions of dollars.
So, if you think you'll qualify for a gaming license...
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Tuesday, April 25, 2017
The Real Estate Broker Conductor Dance
Dancing.
Not a favorite pastime for me.
When I was younger, I danced - well I thought I was dancing. It might have been a sloppy swaying or obnoxious gyration of my body. But, I thought I was dancing. Even if others didn't see the magic in my artful moves.
Lately, with commercial real estate (CRE) values in Las Vegas returning to their slow progression of increasing in value, I thought that Buyers would suddenly realize that the steals are gone and the Sellers would realize that they are NOT holding gold in their lands.
Oh, well. I can only hope that the coming of the future tells them the truth -- even if Buyers want to ignore recent sales; and Sellers try to use non-comparable properties to justify an unrealistic value.
But, what hasn't changed in the 20 plus years while working CRE in Las Vegas is the dance.
Yes, the Buyer/Seller dance that starts with either the Seller or the Buyer -- it doesn't matter who starts dancing. As long as one party or the other finds the property attractive enough that one or the other begins a dialog which might result in a potential sale. That's what us Real Estate Brokers want to occur.
Usually, the Buyer finds a property of interest to them; then the Seller plays the hard to get game; followed by Buyer changes the viewing/walking the property time; then, the Seller fights back with 'we need to know certain Buyer qualification conditions in order to move forward;' which the Buyer then will flash their qualifications; which the Seller refuses to accept or budge.
You get the picture!
And us frustrated Real Estate Brokers are the ones who end up playing conductor.
We would be in charge of the Buyer/Seller orchestra as it plays. All we can do is to keep trying our best and to keep up and (pretend maybe) to be fully in charge of this crazy scenario.
Now, you will have to trust me on this. I am fully capable and experienced in helping anyone acquire a CRE property; or help a Buyer or Seller close a real estate sale -- but it is essential that the Buyer/Seller parties co-operate.
And, that is the key.
As the conductor of this musical chair scenario, it's my job to help the parties find the common ground. Which is ground we all can stand on with two feet solidly on a firm surface.
But, as this dance is playing out, inside I am thinking: "Holy (insert your favorite word) !!!
My weary feet usually don't find the rest they need until the Escrow is closed and the property officially transfers -- changing ownership via Recording at the County.
So, you ready to dance?
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Not a favorite pastime for me.
When I was younger, I danced - well I thought I was dancing. It might have been a sloppy swaying or obnoxious gyration of my body. But, I thought I was dancing. Even if others didn't see the magic in my artful moves.
Lately, with commercial real estate (CRE) values in Las Vegas returning to their slow progression of increasing in value, I thought that Buyers would suddenly realize that the steals are gone and the Sellers would realize that they are NOT holding gold in their lands.
Oh, well. I can only hope that the coming of the future tells them the truth -- even if Buyers want to ignore recent sales; and Sellers try to use non-comparable properties to justify an unrealistic value.
But, what hasn't changed in the 20 plus years while working CRE in Las Vegas is the dance.
Yes, the Buyer/Seller dance that starts with either the Seller or the Buyer -- it doesn't matter who starts dancing. As long as one party or the other finds the property attractive enough that one or the other begins a dialog which might result in a potential sale. That's what us Real Estate Brokers want to occur.
Usually, the Buyer finds a property of interest to them; then the Seller plays the hard to get game; followed by Buyer changes the viewing/walking the property time; then, the Seller fights back with 'we need to know certain Buyer qualification conditions in order to move forward;' which the Buyer then will flash their qualifications; which the Seller refuses to accept or budge.
You get the picture!
And us frustrated Real Estate Brokers are the ones who end up playing conductor.
We would be in charge of the Buyer/Seller orchestra as it plays. All we can do is to keep trying our best and to keep up and (pretend maybe) to be fully in charge of this crazy scenario.
Now, you will have to trust me on this. I am fully capable and experienced in helping anyone acquire a CRE property; or help a Buyer or Seller close a real estate sale -- but it is essential that the Buyer/Seller parties co-operate.
And, that is the key.
As the conductor of this musical chair scenario, it's my job to help the parties find the common ground. Which is ground we all can stand on with two feet solidly on a firm surface.
But, as this dance is playing out, inside I am thinking: "Holy (insert your favorite word) !!!
My weary feet usually don't find the rest they need until the Escrow is closed and the property officially transfers -- changing ownership via Recording at the County.
So, you ready to dance?
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Wednesday, April 12, 2017
Las Vegas Raiders! Did anyone ever think the NFL would allow a team to move to Las Vegas?
The NFL has become an 11 month sport. And with the NFL Draft just around the corner, you can be sure that Football is back in full swing!
With that said, there are fabulous Sports Bar Ownership Opportunities available in Las Vegas for the correct NFL Loving enthusiast.
Now, you don't have to open and run the business yourself. You could acquire the real estate where the sports bar is located as a Net Leased Investment (NNN).
A NNN is where the tenant pays most (if not all) of the costs on the property to include Real Estate Taxes, Insurance and Common Area Maintenance.
Now, most local Las Vegans didn't or couldn't go to games of their favorite teams, so they just sauntered on down to the NFL Team Bar that are all over the Las Vegas Valley.
There, they could wet their whistles and make friendly talk and even wager on their teams games right inside of the bar!
That's right! Some Sports Bars have what is known as a wagering kiosk that can accept bets on the NFL games playing that weekend. And, this allows you to make a wager without having to go to a major resort to place a bet at a sports book!
And, these are located in particular sports bars because of the credibility of the Tenant -- which makes owning the real estate that the bar operator is located a more than solid NNN Investment!
And, one of the benefits of owning and renting a Nevada Property, if you are a Nevada Resident, you don't have business nor personal income tax on the monthly rent you receive.
It's one of the main reasons high profile persons will also own a home and live in Nevada.
That way they only pay income tax on money they earn while working in other states.
Many Celebrities do this.
(Please consult your tax person for details.)
So, if earning a passive income of +/-$10,000 per month sounds interesting to you, you need to contact me quickly.
There are real estate properties available. But, for further details, you need...
To Contact David Howes: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
With that said, there are fabulous Sports Bar Ownership Opportunities available in Las Vegas for the correct NFL Loving enthusiast.
Now, you don't have to open and run the business yourself. You could acquire the real estate where the sports bar is located as a Net Leased Investment (NNN).
A NNN is where the tenant pays most (if not all) of the costs on the property to include Real Estate Taxes, Insurance and Common Area Maintenance.
Now, most local Las Vegans didn't or couldn't go to games of their favorite teams, so they just sauntered on down to the NFL Team Bar that are all over the Las Vegas Valley.
There, they could wet their whistles and make friendly talk and even wager on their teams games right inside of the bar!
That's right! Some Sports Bars have what is known as a wagering kiosk that can accept bets on the NFL games playing that weekend. And, this allows you to make a wager without having to go to a major resort to place a bet at a sports book!
And, these are located in particular sports bars because of the credibility of the Tenant -- which makes owning the real estate that the bar operator is located a more than solid NNN Investment!
And, one of the benefits of owning and renting a Nevada Property, if you are a Nevada Resident, you don't have business nor personal income tax on the monthly rent you receive.
It's one of the main reasons high profile persons will also own a home and live in Nevada.
That way they only pay income tax on money they earn while working in other states.
Many Celebrities do this.
(Please consult your tax person for details.)
So, if earning a passive income of +/-$10,000 per month sounds interesting to you, you need to contact me quickly.
There are real estate properties available. But, for further details, you need...
To Contact David Howes: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Friday, April 7, 2017
'Hypothetical' Market Value!?
In my years as a Licensed Real Estate Broker, I think I can smell a rat when I come upon a rat.
This is just a revelation of a recent event that took place here in Las Vegas, NV.
A fairly new client is searching for a particular property. He's young yet has some experience. He has a particular Acquisition Criteria that to me makes sense.
He is searching for this property type in the $10 to $30 Million range; must NOT be older than 1990; and must be fairly well taken care of (preventive maintenance wise).
Okay, not too many properties fit this; but i am willing to "search" for that type of property given the anticipated fee I would receive upon the close of a sale.
Anyway, with that said, I found a property that fit.
The current owner had acquired the property out of foreclosure and had marketed the property to re-sell.
The problem was/is, the current owner thinks his property can be converted to a resort casino.
(Just so every reader knows, just because you own a property in Las Vegas doesn't mean you can have an Unrestricted Gaming License to operate a casino on your land.)
So, I found the property, negotiated a fee and signed the appropriate agreements to proceed with 'selling' this current owners property.
As the information about the property was received in my Inbox, I perused it and was amused at the verbiage while reading the appraisal.
Digging into it further, I re-read the appraisal and was concerned at the verbiage: Hypothetical Market Value.
Now, as everyone who has ever acquired a property -- most of you might have bought a house -- knows, that the appraisal sets a market value for a property -- usually for the lender's purpose of financing the purchase.
So, when I read the words: Hypothetical Market Value in this current owners paperwork I knew that the appraisal wasn't going to be able to be used for any financing. And, it would never pass a review appraisal process. I had a good chuckle.
I called my client and asked if he had noticed that. He did. But, he wasn't using that as a basis of value. He was using the current owner's financials for the property and he determined that the property was worth about half what the current owner was asking.
I had to agree.
Well, I emailed the current owner and told him my and the client's concern about the value.
Even though the property was located on Las Vegas Blvd, it was no where even close to being on the "World Famous Las Vegas Strip!"
And even though the zoning was H-1 -- and there was a resort casino nearby -- obtaining an Unrestricted gaming License on this property was going to be difficult at best.
(FYI: Most resort casinos don't share a property line with a SFR residential neighborhood. Check that out the next time you are in Las Vegas for a visit.)
Bottom-line here is: Just because you own a Las Vegas real estate property, and just because their street address contains Las Vegas Blvd, that doesn't mean the property is valued at or even worth $10 Million an acre.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
This is just a revelation of a recent event that took place here in Las Vegas, NV.
A fairly new client is searching for a particular property. He's young yet has some experience. He has a particular Acquisition Criteria that to me makes sense.
He is searching for this property type in the $10 to $30 Million range; must NOT be older than 1990; and must be fairly well taken care of (preventive maintenance wise).
Okay, not too many properties fit this; but i am willing to "search" for that type of property given the anticipated fee I would receive upon the close of a sale.
Anyway, with that said, I found a property that fit.
The current owner had acquired the property out of foreclosure and had marketed the property to re-sell.
The problem was/is, the current owner thinks his property can be converted to a resort casino.
(Just so every reader knows, just because you own a property in Las Vegas doesn't mean you can have an Unrestricted Gaming License to operate a casino on your land.)
So, I found the property, negotiated a fee and signed the appropriate agreements to proceed with 'selling' this current owners property.
As the information about the property was received in my Inbox, I perused it and was amused at the verbiage while reading the appraisal.
Digging into it further, I re-read the appraisal and was concerned at the verbiage: Hypothetical Market Value.
Now, as everyone who has ever acquired a property -- most of you might have bought a house -- knows, that the appraisal sets a market value for a property -- usually for the lender's purpose of financing the purchase.
So, when I read the words: Hypothetical Market Value in this current owners paperwork I knew that the appraisal wasn't going to be able to be used for any financing. And, it would never pass a review appraisal process. I had a good chuckle.
I called my client and asked if he had noticed that. He did. But, he wasn't using that as a basis of value. He was using the current owner's financials for the property and he determined that the property was worth about half what the current owner was asking.
I had to agree.
Well, I emailed the current owner and told him my and the client's concern about the value.
Even though the property was located on Las Vegas Blvd, it was no where even close to being on the "World Famous Las Vegas Strip!"
And even though the zoning was H-1 -- and there was a resort casino nearby -- obtaining an Unrestricted gaming License on this property was going to be difficult at best.
(FYI: Most resort casinos don't share a property line with a SFR residential neighborhood. Check that out the next time you are in Las Vegas for a visit.)
Bottom-line here is: Just because you own a Las Vegas real estate property, and just because their street address contains Las Vegas Blvd, that doesn't mean the property is valued at or even worth $10 Million an acre.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Wednesday, March 29, 2017
A New Beginning for Las Vegas?
Las Vegas!
Everyone knows your name!
Translated, it means Fun! (Not really.)
But, when some one, anywhere in the world says: "Let's go to Vegas!"
Everyone, no matter where you are in the world, knows what they mean.
And Fun means: Lots of Free Alcohol (if you are gambling), Gambling (if you are drinking free alcohol), and Partying all night long (a result from gambling and free alcohol).
So, when the NFL took up the topic of: "Should the Oakland Raiders be allowed to become the Las Vegas Raiders? For some reason, they voted 31-1: Yes!
And as the insert article from Casino Industry Gaming News states: It was money!
Gambling Finally Becomes Non Issue With NFL Owners
That's because "Money Talks and Bull S@&t Walks!" Is the old saying, isn't it?
And, they Voted, Yes despite the facts that Las Vegas doesn't rank very high media wise, But, according to their vote result: Las Vegas still ranks! (No pun intended.)
Las Vegas City Rankings (Just for Fun!)
And, lastly, and this is my personal assessment, as a place to live, work, and raise a family (having lived and worked in other markets) Las Vegas is Number 1!
I think the best thing is: Nevada doesn't have a State Income tax.
Lots and Lots of money pours into Nevada via the Mining Industry, just as well as the tourism industry.
Las Vegas roads are wider than any other city in the world -- even wider than the city (supposedly) built for cars -- Los Angeles.
And on the outside looking in, Clark County and City Planners are more up to speed as to what is necessary to make traffic flow easier around the valley.
When people I'm with complain about the "Orange Traffic Cones" lining the streets, I remind them that, that signals progress and growth! We may NOT see the results of that growth immediately, but we will as traffic volume increases, the roads are already wide enough to handle that traffic.
And repairing roads, building much needed On and Off-ramps, wider Freeways and Streets, is all part of a growing economy. A Valley destine to grow even larger.
Years ago, a developer told me: "If you don't have orange cones in your roads, you have a dwindling economy."
I think Mark Davis knew this and wanted to be apart of it.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
Everyone knows your name!
Translated, it means Fun! (Not really.)
But, when some one, anywhere in the world says: "Let's go to Vegas!"
Everyone, no matter where you are in the world, knows what they mean.
And Fun means: Lots of Free Alcohol (if you are gambling), Gambling (if you are drinking free alcohol), and Partying all night long (a result from gambling and free alcohol).
So, when the NFL took up the topic of: "Should the Oakland Raiders be allowed to become the Las Vegas Raiders? For some reason, they voted 31-1: Yes!
And as the insert article from Casino Industry Gaming News states: It was money!
Gambling Finally Becomes Non Issue With NFL Owners
That's because "Money Talks and Bull S@&t Walks!" Is the old saying, isn't it?
And, they Voted, Yes despite the facts that Las Vegas doesn't rank very high media wise, But, according to their vote result: Las Vegas still ranks! (No pun intended.)
Las Vegas City Rankings (Just for Fun!)
And, lastly, and this is my personal assessment, as a place to live, work, and raise a family (having lived and worked in other markets) Las Vegas is Number 1!
I think the best thing is: Nevada doesn't have a State Income tax.
Lots and Lots of money pours into Nevada via the Mining Industry, just as well as the tourism industry.
Las Vegas roads are wider than any other city in the world -- even wider than the city (supposedly) built for cars -- Los Angeles.
And on the outside looking in, Clark County and City Planners are more up to speed as to what is necessary to make traffic flow easier around the valley.
When people I'm with complain about the "Orange Traffic Cones" lining the streets, I remind them that, that signals progress and growth! We may NOT see the results of that growth immediately, but we will as traffic volume increases, the roads are already wide enough to handle that traffic.
And repairing roads, building much needed On and Off-ramps, wider Freeways and Streets, is all part of a growing economy. A Valley destine to grow even larger.
Years ago, a developer told me: "If you don't have orange cones in your roads, you have a dwindling economy."
I think Mark Davis knew this and wanted to be apart of it.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
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