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

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

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

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

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

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

Enjoy.

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

RIP, Yogi.

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

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

Now, here is a steal!

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Lesson learned.  Any questions?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

I appreciate your patience and tolerance in the matter.

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

Las Vegas Resort CEO is a Big, Fat Liar!

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

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

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

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

What?

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

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

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

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

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

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

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

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

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

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

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

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

Just my two cents!

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

ICYMI: Kickbacks are Illegal in Real Estate!

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

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

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

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

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

I just don't understand it.

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

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

Just my two cents!


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

Wrote another Purchase Offer for a Las Vegas Resort Casino!

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Las Vegas Resorts, Casinos and Hotels For Sale!!

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

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

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

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

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

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

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

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

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

Nevada Hotel Properties Marketed As Casinos Could Be NOT!

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

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

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

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

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

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

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

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

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

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

Thought so...

So,...

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

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

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

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

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

So, if you want you can go it alone and see what happens; OR sign me up to help you get to those people.

Now, most Resorts in general do NOT like Real Estate Brokers.  They think only attorneys are capable or necessary.  I understand their plight.  I have seen, first hand, other Real Estate Brokers  -- some from half way around the world -- way over-charge Buyer clients simply because the Broker thinks the information about what is for sale, or even who to present offers to, is worth more than gold.

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

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

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

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

Recently, a CA Broker told me that he has a Buyer from the South Pacific rim who wants to acquire a Las Vegas Resort Casino AND he is willing to pay that broker a ridiculously high fee demand of 3%!

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

Given that Resort Casino prices are mostly in the hundreds of millions, my charging a 1% fee seems reasonable.

Now, please be aware of Broker Chains. This is where two or more Brokers want a piece of the commission pie simply because they learned that a buyer - such as yourself - has made it known that you want to Buy a Resort Casino property.  These Brokers feel that they are due a larger piece simply for referring you to someone such as me.

So, ask yourself: Is it truly worth their demand for more money just because they passed along a Buyer client's name or telephone number to me.

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

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

However, IF you are truly interested in acquiring a Las Vegas Resort Casino property, please forgo the Broker chain, and sign with me directly as your Broker.

And, "Yes!" that requires an officer of your corporation duly authorized to sign a Non Circumvent Commission Agreement that you will compensate me directly from Escrow upon the Close of Escrow or the Sale of the subject Resort Casino Property!  ((The form can be found in the right hand column under Las Vegas Casino information -- just over to the right!))

But, remember, I actually do know which Resort property(s) are currently for sale. And, by signing up with me to represent you doesn't mean a deal will get down. That could take time and effort on your part.

And, of course, there will attorneys involved. But you will actually get closer to submitting an LOI or Offer to the correct person; which gets you closer to Resort Casino Ownership; which with my help -- and you compensating me a fee to represent you -- is a small price to pay for a Resort Casino property Ownership.

Lastly, ALL interested parties will have to disclose their financial capabilities.  That way, I know upfront which property you are truly capable of completing a purchase on prior to making an offer.

And getting that LOI or Offer with the appropriate financial qualifying paperwork to the 'key' person, protects my reputation as a Real Estate Broker and will allow them to know that YOU are qualified to Buy.

I appreciate your patience and tolerance in the matter.

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

Yesterday, while talking to a Seller...

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

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

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

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

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

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

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

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

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

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

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

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

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

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

That sounds really bad, doesn't it?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Information on Las Vegas Resort Properties For Sale!

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Internet Idiots Ruin Humorous Comment!

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

The Internet tries to appease everyone.

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

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

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

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

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

So, lesson learned.  Comments be damn!

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

:-)

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

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

Dumbest Purchases made by Athletes-Celebrities!

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

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

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

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

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

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

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

Sigh!

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

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

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

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

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

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

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

Unfortunately, for them, they are ALL gone.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Retired NFL Players Go Broke/Bankrupt within a few years of retirement!

I have written about this subject in previous blogs before.  And, I find this to be a crying shame.

After earning such a large sum of money in such a short time span: How do players end up broke or bankrupt?

My other question is: How do I reach these young men and try to educate them to NOT spend every dime they earn on intangible assets that lose value over time?

I realize that the athletes families don't help much because they are expecting (in some cases demanding) a lump sum payment for just being related to the athlete.

But, I still say, the best way to handle a greedy relative is to just give them an income rather than the lump sum they are demanding.  (And hiring a strong financial planner is the best way to go.)

http://fivethirtyeight.com/features/theres-a-difference-between-broke-and-bankrupt-for-ex-nfl-players/
(You may have to copy and paste in your browser to read.)

The end result of this, is pretty sad.  But, IF the athlete would contact me, I could show them how acquiring an income property could help them pay incomes to the greedy relatives of theirs.

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

Real Estate Investors! Banks now trying to use auction process to increase market value of their REO's!

For some reason, Banks are now using the Internet auction process, in an attempt to sell their REO's.

The bad news for the banks is that they will be dealing with the same stubborn buyers who feel that the current asking prices are too high.  And, that bringing the property to auction will NOT increase the value of their REO holdings.

However, whether the property "Sells" at auction or not, the stronger banks are going to hang in there tough and continue to focus more on the maximum value they can get for their properties through this process.

Recently, one REO property I had been watching, did sell through the auction process for slightly more than what it would have sold for through the normal real estate sales process.

What this tells me is that this property's current value -- for example -- is roughly $4 million.  Bringing the property to auction, still only made the property worth the +/- $4 Million.  (Just so you know, there were no comparable sales or any other evidence that would have made this property, overnight, increase in value at all.)

So, what can I do?  The only thing I can: which is to tell the Listing Agent or Owner, “I can get you an offer for "X" amount for your property.”  The Agent or Owner usually replies that they can find a buyer for their price.  Unfortunately, my only reply is: “Good Luck!”

  

(To give you some background information, several years ago, I sold a client’s last owned shopping center in which I was able to get him the highest price per square foot for a shopping center in Las Vegas at the time.  But, since that was a few years ago, he’s (conveniently) forgotten that fact.)

So, a fellow property owner, who knows little or nothing about the declining market area they are in, “thinks” he can get someone from out of the US to badly overpay for my client’s property!

The unfortunate part of this is that this is starting to happen in reality.  Last year, a Chinese investment group overpaid for a Walgreen's located on the "Strip."  Now, there are better valued properties around the entire Las Vegas valley that are worth looking at.  But, as with most investors outside of Las Vegas, they only think of Las Vegas as a Resort lined “Strip” of land.

But, if you investors would open your minds and wallets, you will find -- to your surprise -- good deals still here but outside of the “Strip.”  And, the investor that decides to believe me will be one happy camper down the road.

For more Information about Las Vegas Commercial Investment Real Estate Property, contact David Howes at: david@davidhowes.net OR 702-501-9388!