Showing posts with label Development. Show all posts
Showing posts with label Development. Show all posts

Saturday, July 18, 2020

14 down, 7 to Go!

Sounds like a Football or Basketball score, doesn't it?

Out of the 21 properties I have had listed, I have been able to sell 14 of them!

Yes, I need to replace the Sold listings with other listings, but all in due course.

I listed a portfolio of 12 Single Family Homes (SFRs) including a townhouse and a condo.

I listed three motels.

I listed a portfolio of 6 Multifamily apartments.

I still have those remaining because they are extreme value added and the Seller wants his price.
(Still working an offer that might work, though.)

In the meantime, if interested in acquiring a Las Vegas property...

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, June 4, 2020

The Economy Motel in Downtown Las Vegas is SOLD!

It took a while.

It was grueling to the end!

But the Seller is happy to get almost what he wanted for this property.

The Economy Motel

It would have Sold sooner for a cheaper price if the Buyer hadn't been so stupid!

YES! The previous Buyer stupidly canceled escrow the day before closing because he feared the US Travel Ban and the COVID19 virus was going to have an adverse effect on his property ownership.

Neither was a reason to cancel.  Thus, his $250,000 Earnest Money Deposit (EMD) was going to be forfeited if he hadn't stepped back up and made another deal.

Because of his actions, he had to pay a penalty.  You do know that if you cancel escrow (default), your EMD becomes nonrefundable and is released to the seller, right?
Especially, if you are scheduled to fund and closed the next day.

Some Buyers are just too dumb to realize they are NOT that smart.

So, The Economy Motel is in a new owners control.  We'll see just what happens to it in the next year or 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!

Monday, June 1, 2020

Fontainebleau (Drew) is in Default AGAIN!

I hope everyone, by now, knows that the section of the "STRIP!" where the Fontainebleau (Drew) is located, is NOT a choice area!



Drew (former Fontainebleau) in Default!


I wonder: Who is idiotic enough to acquire this tear down at full retail value?

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, May 15, 2020

It's Real Estate!

Yesterday, while showing one of the Motels I have for sale here in Las Vegas, I was talking to the Buyer/Investor about the Pandemic.

Our discussion centered around rental properties and how they make you money over time.

The Investor said he had given up on stocks via the Stock Market because they always lost money.
(I told him about my theory that the Stock Market is nothing more than legalize gambling.  He thought about it for a second and agreed.)

Anyway, he sticks to just real estate now, because he said even though he doesn't make as much money as he thought when sells a real estate property; he said if he holds them for a while, and rents them out, when he does sell, he's never lost money.

He said the trick is to buy with as little of a loan as possible.  Cash is better, of course!

Thus, I remarked that, that is what I have found.  I own rental property and over time the value, rents and aggravation all grow, but in the end, I have always sold for more than I paid for them.

And, if you buy correctly, that limits your downside when selling.

That made me think of when I first entered real estate under Mike Sitren, way back in 1991.
We sold HUD OWNED Homes, originated the loans to financed the buyers purchase and made money both ways!

Now, almost 30 years on, I am just selling CRE and working the rental properties as needed.
It always reminds me of Mike saying when things go rough during a real estate transaction: "It's Real Estate!"

And with this pandemic running rampantly through our lives, if you don't settle down and ride it out, the only real estate in your future, will be a grave plot.

My apologies for end on such a sour note, but if you have an interest in Las Vegas CRE...

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, May 5, 2020

Sleazy Real Estate Agents

Late last night, I received a call from a residential agent asking about one of my motel listings.

She and her husband are a Residential Real Estate Team here in Las Vegas.

Not surprised that a residential agent would call.  That happens a lot because residential agents think that selling a Commercial Real Estate (CRE) property will add to their mystic.  (It doesn't.)

Anyway, this morning, The "wife" emails me that they have a cash buyer interested in acquiring a small motel.  I have one listed.

I call the Owner's Property Manager (PM) and set up a tour.

As I was working on other "things," I suddenly get a text from the PM saying that a Buyer and agent are at the property asking questions.  (Now, PM and myself are the only ones authorized by the Owner to answer For Sale questions.)

Fortunately, the PM was at the motel in question and did answer property questions during the tour.
Then, they suddenly left.

In the meantime, I am calling the "wife" and asked what was going on?
She said their tour was ahead of schedule and thought just going to the property to walk around was okay. (It's NOT!)

I told her that, that was unacceptable and unprofessional behavior.  If she had been in real estate any length of time, she would know this.

FYI: If you make a schedule to tour a real estate property, and you are early, you call the listing agent to let them know you are early.  They didn't call.  I had to call them after the PM found them wandering the property and asked what they were doing?

So, if you have agents that are that lacking in management skills, you may NOT want to work with them.

The PM did say the Buyer acted as if he was offended by the condition of the property.  He's a bottom feeder and I am truly sick of them.

The property is Value Add and does need work and is priced for that reason.

More as the Corona virus, COVID-19, rampages through the US.

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 22, 2020

How to Screw up a Commercial Real Estate Escrow!

The corona-virus hasn't been the only thing effecting me the past 22 days.
(I am NOT infected by the virus! It has been one of many things going on around me that have had an effect on me -- like it has on so many others.)

With that said: the escrow that was canceled by the Buyer the day before Close, is still swarming around with accusations now by the Procuring Broker of being screwed; and accusations of me and the Seller screwing the Buyer, and these are from the Procuring Broker.

This accusation has become more nauseating than the Virus! (Okay, since I don't have the virus, this is an exaggeration.)

Let me explain: Recently, the Procuring Broker accused me of trying to "Sideline" his firm from any commission due to him because his client canceled escrow.

Essentially, he is accusing me of trying to screw him.

Potential Screw Job?
That's NOT true given that one of the partners in the Buying Entity is a local real estate agent who is with another firm.  That agent has made direct contact with me and continued to do so even after I told him to keep the procuring broker involved. (He didn't).

So, when I emailed this Partner, I also cc the broker and agent involved to keep them in the loop.

Yet, apparently, the Broker doesn't keep up with his email correspondence. (That's another story.)

Anyway, when a Buyer cancels an escrow the day before closing, it is a reminder that there are a lot of Buyers out there that lie.  This Buyer claimed to be qualified to buy ALL CASH, yet never had the money to close.  It also puts into focus his Proof of Funds that he presented claiming he had the ability to close. (What happened to it?)

My suspicion is, and has been, he was trying to "flip" the properties. And, his up escrow/sale canceled on him.  Now, he is trying to get his $275,000 EMD back which he is NOT entitled to per the Purchase Agreement he signed.

Since I do my best to be diligent and honest, if you are a Buyer who lies and pretends you are more than you are not, please do NOT contact me.

If you are a Buyer who is serious about acquiring a Nevada CRE Property...(and don't like screwing or being screwed)...but like being treated in an honest and forthright manner...

Contact David Howes by: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!

Monday, April 6, 2020

Corona Virus is NOT a Reason to Cancel Escrow at the Last Minute!

The Downtown Las Vegas Motels that were in escrow suddenly canceled last Monday -- the day before the escrow was supposed to close.

The Seller is very, very upset because the Buyer had run through all of his contingencies and at the last minute he claimed he couldn't get financing, thus he emailed a Termination Letter to escrow demanding his $275,000 Earnest Money Deposit (EMD) returned.

Per usual, he is claiming the Corona Virus and the US Travel Ban are to blame -- thus he can NOT close.


BULLSHIT!

First: his Due Diligence passed and he had no problem with all that was disclosed to him about the three motels. (Yes, he knew they are Value Add and the Buyer accepted that fact.)

Second: At the last minute, he claimed his bank refused to finance the transaction.  Unfortunately, he claimed from the very beginning he was a Cash Buyer, thus he did NOT have a Financing Contingency in his contract.

My Attorney Friend (who I used to play golf with every week) said that just because there is a Pandemic and a Travel ban, those items are NOT in the contract, thus the EMD rightfully belongs to the Seller.

That is in the contract!

Besides, the Buyer's Up Buyer canceled on him leaving him high and dry.  That's NOT the Seller's fault!

In the meantime, the Attorney is going to respond to the Termination Letter and said we'll see where that takes us.

So, are you looking for a (Non Gaming) Downtown Las Vegas Motel that can be acquired at about a 15% Cap Rate?

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!

Saturday, March 28, 2020

The Assignment has NOT been Received!

In almost 30 years of being a Real Estate Broker, this has happened to me less than a half-dozen times.
However, as of yesterday, this is the first time it happened within three days of closing escrow!

I have had the three Downtown Las Vegas Motels in escrow four times now.

In my attempt to ward off would be flippers, I have been diligent to overly vet prospective buyers.
Most approach as buyers interested in acquiring value add, net income properties that they can fix and operate.

However, I didn't see this one coming because the "Buyer" has acquired several properties in Downtown Las Vegas that he bought, fixed, and operates.

So, when all of the Buyer's contingencies expired, he suddenly wants to cancel the escrow -- and receive 100% of his Earnest Money Deposit (EMD) back!
WHAT?!

The Seller was just as surprised, too!  And, since the Buyer threatened to sue to get his EMD, the Seller sought his attorney's advice; and his attorney says the EMD belongs to the Seller.

Then, while discussing the situation with the Escrow-holder, she lets out that she had been waiting for the Assignment of the Escrow.
WHAT?!
Assignment of  Escrow
She tells me that the Buyer's assignment of the escrow has NOT been received.  I was stunned. Apparently, this Buyer either didn't have the funds to close (As he assured me); or his flip Buyer pulled out of the deal at the last minute.
(I think the latter.)

Now, the Buyer either has to close, or he loses his $275,000.00 EMD.

At this point, we shall proceed with caution.

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, March 19, 2020

SHUTDOWN!

Real Estate is a business that requires a lot in personal interaction.  Granted, most of it is on the telephone and through other electronic communicating, but it is still a personal relationship business.

Yet, truly it is a non-essential business -- except when you have an escrow that needs to close within the shutdown period.


Sigh!

Buyer wants to extend closing because he is restricted from re-entering the US; and Seller's attorney says close right away.

Somehow, as the Real Estate Broker in the transaction, I am stuck between a rock and a hard place.
(Boy do I feel squeezed.)

What to do? What to do?

Keep moving forward.

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!

Saturday, January 25, 2020

Sports Loving Investors - A Long Term Leased Sports Bar is available for your review!

Hey!

Sports Loving Investors!  There are two Las Vegas Sports Bars For Sale!

Football is back in full swing!  And, the Super Bowl is just around the corner!

With that said, these are fabulous opportunities for the correct Sports Loving enthusiast to acquire a perfect Net Leased Investment Property where local Las Vegans go to wet their whistles and make friendly wagers on the games right inside of the bar!



That's right!  These Sports Bars have sports wagering kiosks that can accept wagers on the game right at the bar location without having to go to a major resort to place a bet at a sports book!

And, these are located in these particular sports bars because of the credibility of the Tenant which is a National Credit Tenant who has a Corporate Guarantee on their lease!

These two can be acquired together or individually.  Both have a Net Leased Income of more than $20,000 per month!

AND, there is basically zero Landlord responsibility!

The Tenant pays for the building maintenance, the building's Real Estate Taxes, and Insurance on top of their  annual rent!

So, don't wait!  The long term leases and tenant financials are available.  But, I will only let those qualified get to see them.  In order to get qualified, you need to 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!

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, January 14, 2020

Rail Served Land in Las Vegas!

Recently, I've been thinking about the Railroad.
All the live long day.

Okay, enough of that.

About a year ago, I ran into a Land Owner who resides here in Las Vegas who owns several acres of land that he is considering for sale.
One of his parcels is adjacent to a parcel that has rail service.


Now, there's no warehouse, or anything like that on the parcel; but, there is a rail spur on the vacant parcel.  This could add value to this owner's parcel if he does acquire it.


It sits there all by itself, all alone with no other rail served parcel in the area.


However, the parcel with the rail service is NOT big enough, by itself, for any warehouse development.  So, in order to build and be able to utilize the rail spur cost effectively, you would have to acquire the surrounding parcels.

Unfortunately, there's the rub.

But, I have approached the adjacent land owners about selling.  Some are willing; others no so much.  (Their prerogative. )  Some want more than top dollar, the others are content to keep their land and keep it as is.

Anyway, if interested in developing a rail served parcel in Las Vegas, and need my insight...

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, January 1, 2020

Five Tips about Real Estate

Happy New year, Everyone!!

Now, I didn't stay up for any of that New Year's Celebration stuff.  So, I rested well and woke up late New Year's Day.

However, I noticed someone connected to my blog from another blog.  And, checking out the other blog, she described some real estate items I think everyone should know.

https://therealestatewhisperer.blogspot.com/

Enjoy!

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 24, 2019

RIO SOLD! OK, It's just in Escrow.

For about 10 years (maybe more) Caesars was trying to sell the Rio All-Suites Hotel Casino.

For ten years (maybe more), I did my best to find them a buyer.

Well, looks like I failed.

But, given parameters that were NOT held up by the Buyer in the final outcome, I don't feel like a failure.



You see, it was Caesar's decision to undersell the Rio.

When I was trying to sell this property, I was told that $1 Billion or more was the sales price.  well, I took that as the God's Truth since most 'Strip' properties sell in the $10 Million an acre range.

But, I do know that there is one buyer who must feel completely used for way over paying for a dilapidated resort that is NOT even functional.

(He paid $600 million for a property he will need to invest almost a Billion into to complete it.)



Then, again, the Rio will need probably a Billion to fix/repair from the way Caesar's ran it into the ground during their tenure as owner.

Oh, well!

Another day, another dollar.

If interested in a Las Vegas Resort; OR, if you are interested in any type of Las Vegas investment...

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 19, 2019

Three Las Vegas Motels For Sale!

If you have been considering entering the Las Vegas Motel Market, here's your chance.

You can acquire all (or individually) three separate non-branded Motels at a +/-12% Cap Rate!

That's a steal as far as I can tell!

Two of the Three are located within the "Opportunity Zone" which enables you to get a tax break for redeveloping these properties.

The Economy Motel

The Starlite Motel

The Casa Blanca Motel

Each Property is in a Value Added state and the right person with enough ambition can turn these into branded motels; OR, just keep operating them as they are.

They are earning a total Net Income of +/-$903,066 annually!

For further property details...

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!

Wednesday, September 11, 2019

Just received an alert about your listings!

Okay!  That's great!  Who sent you the alert?

Deal Stream!

Who?

www.dealstream.com!

Wait, what?  I don't subscribe to that web site....

And, so, it happens.  Someone is advertising my listings on another web site.

Should I be angry?  Sad?  Or, happy someone sleazy is trying to sell my listing to another buyer without my consent?

Now, I know the values of these properties.
The Seller knows the values of these properties, too!

If they think they can acquire them so low that they are flip-able, they're wasting their money.

You see, the Seller is very knowledgeable about Las Vegas real estate; thus so am I.

If we get an offer at or about the Seller's selling price, then, SOLD!
But, I can tell you this.

The flipper isn't going to make as much money as they envision.

But, sure, Go ahead!

Market my property for me.  It saves me time and money!

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, August 26, 2019

Peaceful Morning in Las Vegas!

As a Real Estate Broker, I do my best to be a professional.  There are times I know that my words and actions can be taken out of context.

Yet, I strive on toward helping those that want my help.

And, every now and then, I learn "things" that shake me to the core.  Just recently, I found out that a "new" client, who told me he had just drove by several properties in actuality did make contact with another broker about a building he has listed.

(If you don't understand why that is a bad thing, I will explain. If you are a buyer and you contact a listing broker about that property, if you bring me into the situation after making the contact, YOU, as the Buyer, are now responsible to compensate me. Since you directly contacted the Listing agent, you made them the procuring cause of a sale.  Thus, they do NOT have to split any commission with me.)

So, I know a lot of you novice real estate Buyers don't understand this concept. But, if you venture out into the real estate world, make contact with a listing real estate broker or agent about a property with their sign on it, bringing in an agent post that contact, you are responsible for compensating the agent.

Any questions?

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, August 16, 2019

You are going to have to forgive me!

Just read a news story about a Las Vegas real estate agent who recently died.

He worked at a prominent real estate company; and, he was known for doing large real estate deals.

My apology is for what I am about to say because I was NOT a fan.

When it comes to real estate, you need to be courteous and thoughtful toward others.  When you are a bully and you think you are better than all the rest, to me, you are nothing more than a weak, weak person.

My first interaction with this bully was years ago.  Thankfully, in the 20 years since we first met, I did my best to stay away from him. Years ago he did his best to bully me.  I bullied him right back.

Sorry, when you attempt to invalidate me; I fight back.  I hate bullies.

Anyway, the last email he sent me, months ago, was another attempt at bullying.  Apparently, he never learned his lesson.

This time, I had heard through the grapevine that he was dying, so I ignored the email and went on with my business.

Anyway, I am so, so happy he thought going to the doctor was a waste of time.  I am so glad that he's no longer sucking up precious oxygen.  And, he was a year younger than me.

(PST! I go to the doctor twice a year whether I need to or not. So, I am still healthy & (hopefully) wise!  Only time will tell.)

Does that make me a bad person?

It's okay if you think I'm bad.  You are just going to have to forgive me, regardless.

Either way, I don't care if you think I'm bad or not.

My clients know I am good, thoughtful and courteous.

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 28, 2019

When I get ready to Sell, you are my Broker!

On a 33 minute phone call this AM, a Land Owner here in Las Vegas was filling me in on his plans once one of the land parcels he owns sells.

And, during that call, while discussing the situation about the land and the ground leases he has on it, I casually (I thought it was casual) mentioned he should "list" the land with me so I can begin marketing it for him.

I wasn't ready for his reaction.  It wasn't a bad reaction, it's I forgot one of my main rules.

When discussing real estate with a client, pull don't push. (I don't have them numbered like Gibbs of NCIS!)

So, the suggestion didn't land well.  OR, it was taken (slightly) out of context.

He said he wasn't ready. (Which I knew.)
He said he hadn't pre-planned the up swing of selling, yet. (Which I knew.)
And, "He had to get his "shit" off the land so it could be ready to sell." (He thinks that will take a couple of months.)

Vegas Vicky has nothing to do with the post, but I thought it interesting.

Now, he did disclose his up swing (his words) and that shall remain between him and me.

He's a smart man, ran a large company supplying equipment to developers, and made millions through the years.

Anyway, after he (I think it was politely) chewed me out for pushing him, he said you are the best broker I have ever dealt with.

He said, he liked me from the first day we met because I was an honest broker and he has been involved with a lot of brokers who are more concerned about their commission checks than what's best for the client.

I said, Thank You! Adding, I was just thinking out loud about what we could do to market your land.

He then said, "Don't worry.  When I am ready to Sell, you are my Broker!"

Phew!

Since the middle of last summer, when I first approached him, I was weary about him given he is an old, old Las Vegas (local) resident.

When I first moved to Las Vegas, an existing Broker I interviewed, said, "Don't treat the locals as if they are country bumpkins.  It will come back to bite you later on."

He added, "They know what they are doing and treat them as if they are smarter than you."
I've taken that advice seriously.

With that having transpired, I will wait my turn to help him Sell his M-1 Land.

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, May 28, 2019

'I made him an offer he didn't refuse.'

Speaking of successful business persons, I ran into an old Client a while back who met me for coffee at a national chain sit down restaurant on the west side of Las Vegas.

After meeting, as we were leaving, he walked up to a (fairly new) White Rolls Royce Ghost parked just outside the restaurant.

I made a comment about him having completely moved to Las Vegas, otherwise, why else would he bring his Rolls with him.

He replied, 'No, that one was still in LA!'

He added, that another business man we both know had asked him for a short term loan.  My client asked the other business man what he had for collateral?
The other guy said he would put his title to a new Rolls Royce Ghost up.


So, they struck a deal. "I made him an offer he didn't refuse," the Client said.

My client took title to the $300K valued Rolls in exchange for a $200K loan.

I asked, So, the other guy never paid you back?

My client replied, 'Of, course not.  That's why I have a Rolls here in Las Vegas and my other one in LA."

Smart man.

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, May 23, 2019

He's a 'Talker!'

Years ago, when I left Residential Real Estate to work solely in Commercial Real Estate (CRE), I met an Owner of an adult club who in his life time once owned about 40 adult nude/strip clubs across the country.

Now, by the time I met him, he only owned two adult clubs: one in Hollywood and the other here in Las Vegas.

Now, he wanted to keep his Hollywood one because that was an income producing property for him.
But, he was thinking of selling his Las Vegas club and was being very iffy about the sale.

Anyway, he had agreed to pay me if I procured him a buyer.

Well, being the ambitious CRE Broker I am, I set out to find the perfect buyer.

Along comes this one Buyer who had a great story.  This Buyer could rattle off his accomplishments. And he could tell you what he had owned, and where he was headed without hesitation.  He knew business inside and out.

This Buyer was interested in owning an adult club in Las Vegas; and, I knew the property he should acquire.

Well, this Buyer comes to town and the Club Owner agreed to meet us at his club (that was now closed) to go over any potential offer that might be discussed.

As we were listening to the Buyer rattle off his accomplishments and business acumen stories; he suddenly shifted gears.  Instead of Buying the Club, he wanted a management contract to operate the club for the Owner.

The Owner said, 'No.'  That's not what he wanted.

Needless to say, there was no deal struck that day.

After the Buyer and his cronies left, the Owner turned to me and asked me about the Buyer.
Since I didn't know much, I didn't realize that he was going to ask about managing the club.

The Owner said not to worry.  He has run into that type of Buyer many times over the years.
The Owner said the Buyer was a 'Talker."

At first I didn't understand what he was saying, then, it hit me.

The Owner explained that Talkers are all talk.  And, he said he pegged this guy early and knew the routine.  He told me to learn from this and be aware of them in the future.
He also advised me to not waste too much time with them because Talkers never buy.

To this day, this Buyer hasn't bought anything -- well, at least through me.

Through the ensuing years, I've run into several 'Talkers' and true to the Adult Club Owner's word, they have never bought.  Ever.

So, since then, when I run into "Talkers," I politely will listen to them (just as the Owner did); I will help them (a little bit); but, I don't put any faith in them at all.  Talkers have never, ever helped me earn any money.

Lesson learned.

Now, I could call them on the carpet and blast them for wasting my time, but, you see, I don't do that because there is that slim, less than 1% of 1/10th% that they just might buy in the future.

As you all should know, "It's Real Estate."

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!