Showing posts with label Development; Downtown Las Vegas. Show all posts
Showing posts with label Development; Downtown Las Vegas. Show all posts

Saturday, January 2, 2021

Because you are the only Broker who didn't lie to me!

To this day, I remember this statement well!

I was trying to list a couple of Convenience Stores, owned by this attorney, who had invested in a local Convenience Store start up that didn't last.
He had pooled his money with a few other investors and when they were going strong, everything was right.

Then, the stores sales began to decline.

Anyway, the attorney reached out to several real estate companies to list and sell the stores he had control over.

At the time, I was with a Regional Real Estate Company, so I got to go do the listing pitch.

While in his office, I had my material prepared, laying out a somewhat strategy of marketing the stores, he controlled, for sale without broadcasting the stores were for sale.  (You know what I mean.)

Anyway, after giving my presentation, he started asking questions about Convenience Stores, that made me think, him being an Owner, he should know the answers to his own questions.  But, remembering that I was NOT going to fake it, I answered honestly.

After about 5 or 6 questions, he said he'd be in touch with his decision in about a week.

I thank him for his time and left.

For the next week, I felt as if I had blown the listing opportunity.  I resisted the urge to call and get updates.  Soon, I just decided I was up against more experienced agents and I was never going to get the listing.

Then, about 10 days later, he called, asked me to bring him our company's listing agreement and he'd have me sell his Convenience Stores.

I was thrilled.

During the meeting to sign the listing paperwork, I asked what was the attributing factor that made him want to list with me.

His answer surprised me: "Because you were the only Broker who didn't lie to me!

I was shocked!
Not that I didn't lie!
That the other more experience agents/broker had.

To this very day, I have kept this in mind.

I realized that the questions he asked me, were in fact to test my knowledge and to test me as to whether I'd lie -- to him.

Sure he's an attorney.  Now, retired.  He just listed 1.7 acres of land he still owns -- from his days as an investor in Convenience Stores!

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, December 21, 2020

Merry Christmas & Happy New Year with Good Riddance to 2020!

Merry Christmas and a Happy New Year!

istockphoto

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 29, 2020

I never met Tony Hsieh, but I Sold him Downtown Las Vegas Properties

Back in 2012, when I had Ferguson's Motel Listed for sale, and having spent several months marketing, touring and writing low ball offers for the property, a guy, who worked for Tony, approached me about the Downtown Motel property.

The Owner being savvy about the marketing activities surrounding his Motel told me he would sell to Tony at $3.6 Million.

Now, I had just sold the Las Vegas Dragon Hotel to Tony for slightly more than listing price of $2.3 Million.  So, I was surprised when Tony's guy offered $2.7 Million for the Las Vegas Dragon Hotel.

Now, I did tell the Owner of Ferguson's this when I listed his motel for $2.8 Million.  But a few months later, I realized he was correct when he sold Ferguson's for Tony for $3.6 Million!

Now, Tony never actually personally inspected the hotel property, (he did send a contractor to do that though) nor did he even visit the Las Vegas Dragon Hotel personally before buying it for $2.7 Million. At that time, I thought Tony was being foolish to pay so much for property he didn't truly care about.

Anyway, all three properties I sold to Tony's Downtown Project, Sold.

And, in all that time, I never personally met Tony.

Tony Hsieh

At that time, I was even critical of Tony for overpaying for property.  But, apparently, that didn't matter.  Tony had Sold Zappos to Amazon for a ton of money; and, he was going to buy property in the "East Fremont District' regardless.

Since then, in the eight years since closing the all cash deals, the values of Tony's purchases have increase far beyond his (at the time) higher than market acquisition price.

And, Tony had moved on to purchase other better known properties -- such as "The Atomic Café," & "The Bunkhouse" to add to his collect which included the Container Park and a lot others.

Nevada Rules & Regulations restrict the media from publishing the actual cause of death, so we will have to go with "injuries from a house fire."

RIP Tony.  You re-directed East Fremont in an upbeat progressive direction.

Thank You!

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, September 28, 2020

If You Are NOT In Escrow By The End Of September, You Won't Close Any More By Year's End!

Years ago - probably about 29 Years Ago -- the 1st Broker I ever worked for said this.

At that time, he had been a Real Estate Broker for 34 years.  So, I took him at his word.  And, he has been correct ever since. Well, he passed away in 1993, the year I upgraded my license to Broker from Salesperson.

And, ever since those long gone days, a lot of what he advised has proven true.

And, since it is late September, "and I really should be back in school," (Thank You Rod Stewart!), it is getting very, very close to NOT closing another Escrow in 2020.

But, given everything that has happened this year, I still had a pretty good year real estate wise.

Yet, I do believe deep down, we are heading in the wrong direction and the economy is going to take a tremendous hit.

I guess the only thing to do is hunker down, brace yourself and ride out the storm as best you can.

AND, there will be another bunch of homes available post foreclosure in the next 12 months.

So, be prepared -- as the Boy Scout Slogan states!

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 15, 2020

Nothing like Heading Full Throttle Right into an Economic Depression

I am predicting economic disaster coming our way full throttle in the coming New Year of 2021.

To me, what Donald Trump and the Republicans have done with their Tax Cuts, is going to leave us hanging and will result in a large economic collapse than we had in late 2008 and early 2009.

Am I being pessimistic?
Yes!

Will many people be losing their homes again?
Yes!

Was Donald Trump the wrong person to be President?
Yes!

And, his lack of leadership during this pandemic, has only fueled the fire.

I am guessing it will take more than a year to recover from such a devastating result of his incompetence!

Disagree?
Ok!

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 8, 2020

It's Time to Acquire a Downtown Las Vegas Apartment Building

With the way everything is going, and with Downtown Las Vegas in need of housing, here is an opportunity for a small investor to make some money.

OK, you could make a lot of money, but you have to be patient. (If you are NOT patient, you won't make any money.)

a 42 unit apartment building, that had a fire, will begin renovation at the end of September, 2020.  The contractor says it will take him six to nine months to repair, renovate and improve the fire damaged building.

The Alpine Motel Apartments

That's right!  The Alpine Studio Apartment building is ripe with profit!  IF you make an offer now, let it sit in escrow while being repaired, then close upon it's completion.

And, if you wait too long, once fully occupied at +/-$900 per month per unit, the market value of this apartment building becomes +/-$4.2 million or more!  (That would be your loss!)

Now, right now, you could put this property in escrow at $3.3 Million, wait for the construction to be completed, then close before leasing.  And the Close of Escrow could be contingent upon the City of Las Vegas approving residents occupying the building once again.

Questions?

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, August 7, 2020

Unlicensed Real Estate Broker-Agents

Every so often, I will get a call from a "Broker-Agent" who has a client who is looking for some form of real estate product.

After discussing the situation with them about their client, I've gotten into the habit of asking these "Broker-Agents" their licensing status.

And, most will claim an affiliation with some brokerage or an attachment with someone who is licensed
(which is illegal) and they will be the "Broker-Agent" representing the Buyer in the deal.
Still Illegal!

Since these "Broker-Agents" usually are slick, and they attempt to oversell a property to a meaningful potential Buyer, the deal usually doesn't go through.

And, recently, I've run into this scenario but this time the well qualified Buyer didn't show up, but the "Broker-Agent" did with his licensed Agents in tow,

To me, I have never been that desperate to close a transaction that I would need to be involved as a licensed Broker in something like this to earn a commission.

Through my 29 years working in real estate, I would from time to time run into a Buyer who would want the Procuring Fee (or part of the Procuring Fee).  Also Illegal!

But, I'd rather lose that transaction than be beholden to them because once you do it, you then are on their hook!  I don't think it is worth it just to make 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!

Friday, July 24, 2020

Dealing with an Inexperienced 'Know-It-All' Real Estate Agent

First: I will survive a 30 day All Cash Real Estate Escrow.  (That's a fact!)

Second: I am NOT sure I will ever recover from this "New" Agent's idiocy!

He works for a local real estate company that has had a nice success rate.  I'm sure there are agents there that are competent and worthy for anyone to work with.

But, on this particular transaction, this agent has tried his best -- in my opinion -- to get my client/friend to remove me so he can be the only agent in the deal.

Why?

I don't know -- 3rd Base!



Yes!  That's how confusing this has become, and we are still NOT in an Open Escrow, yet!

Here's the background:
On Sunday just past, I receive a call from a Buyer.  He saw my plex properties on a listing service.
And, it turns out, he wants to buy two of them!  Okay.

After discussing the price points, the Buyer wanted to think about it.

A day or so later, my client/friend says he is thinking of listing the two most horrible looking, lack of curb appeal, cost ridden plex properties with someone on the Multiple Listing Service. (I am NOT a Realtor and I have found as a CRE Broker, the Multiple Listing Service is great for homes -- lousy for commercial buildings)
To me that's okay because the Seller's price is retail, and the Buyer's prices have all been wholesale. (He won't accept wholesale and I thought I would just cut my losses.)

Anyway, the buyer then disappears for a few days, then I get a Realtor form offer from this agent for that particular Buyer.  A sleazy move on the Buyer;s part, but okay.

The one offer is for two properties (which the seller owns under two different entities); and, they are low ball prices.

Turns out, the buyer called me, got first hand information on the properties, then went back to the agent to write the offer.

At First I am offended, but Hey, "It's Real Estate," said Mike Sitren.

Anyway, turns out this agent does have a lot of listings, yet I have had other Buyers who worked with him in the past tell me he tried to do things they were uncomfortable with. (That's another story for later.)

Anyway, as I try to help him understand that there needs to be two offers, and I Counter his one offer for 2 properties with 2 offers for one property each, he starts to insult me, my forms, and boldface lies about regulations. (I doubled checked with the state on a few of his pronouncements that he was sure were illegal.  They are not, according to the NVRED.)

Now, I am wondering: Is my client/friend going to sign the 'new' offers (one for each property) that the agent (reluctantly) finally agreed to write? Time will tell.

After we (I am hopeful) close this transaction, I know I will be moving on to other deals already in process!

PS: In my near 29 year experience, sleazy agents will crash and burn sooner than later.
This agent needs to go sooner.

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, June 28, 2020

I Will Serve You With A Subpoena!

Wow!

Never thought I'd have to be subject to being subpoenaed.

But, when you are trying to market a downtrodden building, and a tenant causes the building to catch fire, I guess other Tenants consider that a violation of their rights?

This all stems from the fire, caused by a tenant using their stove to heat their studio apartment at the Alpine Motel Apartments!

Yes, I was the broker trying to sell the property As Is, Where Is.
But this plaintiff's attorney is fishing for information.

It is my understanding that you may have represented Mr. Orozco regarding a potential sale of the
Alpine Motel in August of 2019.  At the very least, I understand that you were the broker. 

Please forward to me all images, inspections, notes, contracts, agreements, emails regarding such.

Obviously, this is just an email and you do not have to respond. Unfortunately, because of COVID, I
cannot serve a subpoena at this time.  However, as of July 1, I can.  So, either you respond this
way, or, after July 1, I will serve you with a subpoena.  Your choice. 

At the very least, demand is hereby made that you take steps to preserve all emails, notes,
inspections, letters, agreements, communications, and images related to Mr. Orozco and/or the
Alpine Motel. 

Alpine Motel Apartments

Well, I am going to talk to my golf buddy attorney to see about this.

Most likely I will co-operate because I only have a few things he's asking for. Probably best to take the high road.

"When in doubt, tell the truth!" Mark Twain

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, June 16, 2020

The Local Las Vegas Motel Market

With Resorts commanding top dollar, and some even falling back into foreclosure, the local Motel scene is alive!

The reason is, even though the Resorts were shut down, the local governments understood that local motels were essential to helping keep visitors to local residents open and happening.

Years ago, my wife and I decided that it was better for relative/out of town visitors to have some visitation freedom!  
You see: Las Vegas is a destination that some want to partake in as a complete stranger; and, they want to do what could be frowned upon in other (outside of Nevada) neighborhoods.

So, initially, we booked local motel rooms for them, but they soon got the hint.
(FYI: The wife & I for years would visit "them" and be offered accommodations in a relative's house.  But, we felt we needed 'more privacy.' So, we started booking stays at local motels when we visited them!)

Thus, we maintain privacy. and visitors maintain freedom to gamble until they drop without worrying about their hosts!
To us it is a Win-Win!

So, with local motels being necessary or essential, and the resorts shut down, my listings have generated a lot of interest.

Thus, the need for qualified motel persons to contact me asap while I still have two remaining.
(Another FYI: I am currently negotiating a potential sale on one of them.)

If interested in motel income....


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, May 27, 2020

Be Aware of Who is in your Audience!

Years ago, I learned, via a more experienced broker than I was at the time, ALL DEVELOPERS lie!

Now, a developer can come along and adamantly state: They never lie! Okay!  I believe they believe that's true.

But, in my 28.5 years of real estate experience, developers lie -- all the time.

Once, while at a event, a developer was giving his presentation on how to buy land to develop it.
Unfortunately, for him, he didn't realize several audience members were wealthy land owners.

I was sitting next to one and I did my best to keep my lips sealed and listen to the presenter's lies.  The land owner was doing likewise.

Anyway, this developer talked about how he's able to acquire land cheaply in order to have a greater profit post sale, development and leasing up of the development.

I had the feeling he thought all attendees there were want to be developers.  It never occurred to him that maybe a handful were actually Owners(?).

Anyway, after the developer's spiel was complete, and as we were exiting, the land owner I sat near, quietly said, "I would never, ever sell my land to that guy.  What a moron!  That guy doesn't realize that half the audience knows more than he does."

Now, the developer is/was a well known builder in the Las Vegas Valley at the time; the Land Owner still has more an 100 acres to his name.  And, Yes, he's developed much of his own property.  He buys, builds and leases out what he can get accomplished in the area where his land is located. Needless to say, he makes a great living.

Moral of the Story: Know your audience!

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 12, 2020

"You Need To Pay My Broker!"

Developers!

All of the Developers I have worked with throughout my near 30 year Real Estate Career have always been the same: Greedy!

Recently, I have been going back and forth with a S Cal Developer, who used to be licensed as a real estate agent in California, who is now searching for Las Vegas houses (to buy and flip).

Fortunately, I have a seller client who will sell his rental houses in a portfolio all cash.

After going back and forth with the Developer, and settling on the price and terms, the developer then throws in that I have to split the procuring commission with his "broker!"

What?

Apparently, this Developer wants half the procuring commission and he found a local agent -- who I know - who is wiling to pay this unlicensed person half of the procuring fee just to have some business!


Is this sleazy?

YES!

First, it never occurred to me that the "agent" actually would be willing to do this.  (He must be hard up for money.)
Second, why would an agent/broker even want to be inserted into any ongoing negotiation post the listing agent procuring the Buyer. (This doesn't make any sense.)
Lastly, this Developer never mentioned "his broker" until the terms of the deal were set and I was drafting the contract.

Now, the Seller does NOT need to sell! (It would be a different scenario if that was the case.) And, the original sales terms have been altered from the Seller's original terms and I have a feeling (knowing the Seller for as long as I have) he is most likely NOT going to accept.

We'll see what happens.

(My wife suggested I report this to the NV RED because I know that the Developer wants and probably will get half of the procuring fee IF I go along with his sleazy deed.

If you are searching for an honest CRE Broker...

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, April 29, 2020

Value Add Non-Gaming Las Vegas Area Motels For Sale

Are you interested in earning a 15.5% Cap Rate/ROI by owning three Las Vegas Area Motels?

If you contact me right away, I will send you the property details for each.

It's a total of 98 units from three separate motel properties in and around Downtown Las Vegas.

They earned +/-$859,000 Net in 2019.

Casa Blanca Motel
The Economy Motel
The Starlite Motel
For further information on each or altogether...

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!

Wednesday, April 8, 2020

Small Las Vegas Casino For Sale!

The Owner of a Small Las Vegas Casino with 45 rooms just told me he's interested in Selling.
He said he will NOT List with any Broker, but if I bring him a ready, willing and capable buyer, he will compensate me.

So, if you can acquire an Unlimited Gaming Casino at $30 Million, contact me right away.

Las Vegas, NV

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, February 10, 2020

Multi Family Plex Properties For Sale in Downtown Las Vegas!

If you have been searching for a smaller Value Add Las Vegas Investment to get started -- or, you have a limit on your available funds, there are 5 small multifamily real estate properties that are available in Downtown Las Vegas!

They are each in the $300,000 range - if bought individually; OR, you could acquire all 5 for $1.5 Million.

621 & 625 N 11th Street

208 N 13th Street

1302 Stewart Ave

610 N 11th Street
Interested Buyers should...

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, January 9, 2020

Tragedy Attracts A Low Balling Crowd!

Ever since the Alpine Motel Apartments suffered it's worst day ever and a resulting six people died, there has been an uptick in real estate interest for this property.

Yes, the Low Ball Flippers have contacted me about buying the property.

Alpine Motel Apartments

All have the ability to close real fast, and they are Cash Buyers -- they claim!

The problem, aside from the legal liability the Owner is going to suffer from (alleged) code violations, is these Low Ball Flippers can buy quickly -- only if the Seller would carry back a loan!

Now, I know from my years of experience, that when you are a Buyer asking for a Seller to Carry Back a Loan, you are NOT a Cash Buyer!

And, to add insult to injury, their quick buying price is way less than what the property is worth.  Vacant, the property should sell for about $3 Million in it's "As Is" state.

But, with the pending litigation, that puts this property on hold.

In the words of the Owner's attorney, "Hold for now."

In the meantime. my heart goes out to the victims caught in this tragic event.

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, December 31, 2019

Happy New Year!


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 Pleasant New Year's Eve and Day!

Monday, November 25, 2019

The Redevelopment of Downtown Las Vegas is the future of Las Vegas Development!

Since Tony Hsieh started buying up lots and lots of real estate parcels east of the Downtown Las Vegas Fremont Street Experience more than 10 years ago, land flippers have also been buying up property with the intent to flip to Tony's Downtown Project.

And, with the City of Las Vegas investing in widening the Fremont Street sidewalks east of Las Vegas Blvd, this area is beginning to become more pedestrian friendly,  Local businesses have high hopes this attempt to draw foot-traffic will help the businesses in this area become profitable.

AND, with businesses drawing more people, the City also hopes this will draw more development in affordable housing -- which is in such dire need in this area.

Now, The Downtown Project has built a 250 unit apartment building called Fremont 9 at the intersection of (you guessed it) Fremont and 9th Streets; and, they are beginning to develop another +/-250 unit apartment building at 11th and Ogden.

Housing is in such demand, that even older apartment buildings are being sought to provide housing developers the opportunity to cash in on this trend.

The Alpine Motel Apartments

One such opportunity is the Alpine Motel Apartments.  Don't let the name fool you.  It's NOT a Motel -- even though that's the name it was given when built in 1972.

It is and has been Studio Apartments all along.  It currently has the ability to rent out weekly.  But, the City of Las Vegas would like to remove that grandfathered ability with any new construction at this site.

Now, it is currently being rented monthly.  But, because of the run down state of the property, it is in dire need of renovation.

That's where the rub begins.

Some developers think it will be too much to renovate.  Others just want to low ball offers so they can do a lipstick on a pig and flip.

Even The Downtown Project made a low ball offer which was quickly rejected by the Owner.

Comparable Sales, though, indicate the AS IS Market Value to be $3 Million.  OR, at about $73,529 per unit.

BUT, the Seller will accept $2.8 Million.  OR, $66,667 per unit.

And, this falls right into what I think the cost of renovation could be: +/-$6,000 per unit or more.

Now, like I mention above, this property has had it's share of offers -- mostly low-ball offers that the Seller has continuously rejected.

Yet, I continue to strive toward a Closed Escrow/Sale for this property.

So, if you are ALL CASH with a QUICK CLOSE, there is a price that this could be acquired at!

You just need...

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, September 4, 2019

SOLD! Okay, Not SOLD. But, they keep saying SOLD!

Have you ever been told a lie and you know it's a lie, but the person telling the lie insist it's the truth!

Recently, a (not so major) resort Sold in Las Vegas.  But, as far as I can tell, it didn't sell.

Okay, I am NOT going to identify the property.  Let's see if you can guess.

A small resort property announced a sale and when I investigated, I found that, that wasn't quite true.

But, the news media keeps hawking the Sold news as if it was something major.

In my investigation of this sale, the ownership name changed, but it remained the same, even though it is going to be occupied by a "New Tenant."

Everyone involved from owner to tenant were in the news saying the right things about this new (supposed) ownership of the property.

The only thing I knew was new was the tenant taking occupancy.  The old ownership still owns but under a different name.

The old ownership executives are the new owner executives.  Yet, the tenant is new.

See how this becomes confusing.  Sort of like listening to a liar who lies and then re-listening to the people who were lied to and they are repeating the lie, yet no matter how much emphasis the new liars try, the lie is a lie.

And, unfortunately, since you know the truth, it becomes exhausting trying to correct the lie.

So, to NOT be lied to... why not contact me.

I will tell you the truth regardless of whether you believe me or not.

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, July 20, 2019

A-Rod Wants To Stop Athletes From Going Broke!

At first, I thought this was A-Rod being pretentious and self-serving.

But, after reading the article, I understand his plan.

With so many young men having no training in handling money, the fact they suddenly have tens of millions, makes them think it is never, ever going away.

The unfortunate scenario of this is it's like being on a diet.
You start a diet and once you stop you find that losing the weight was slow and difficult; but, once you stop, the weight is re-gained faster than ever -- it seems.

Also, as Kobe Bryant said during his interview with Jim Hill, when Hill asked him what was the first lesson he learned when he signed his first million dollar contract?

Kobe's response was, (paraphrasing) when a relative asks for a million dollars and you give it to them, they come back the next year and ask for another million dollars.
Instead of doing that, Kobe said, if they earn $2,000 a month, give them an income of $2,000 a month.

Which leads me to one of the things A-Rod mentions in the article about renting houses.

If you don't have enough monthly income from retirement, etc, the athletes needs to consider acquiring a long term income from a portfolio real estate properties.

That's where my expertise is needed.

There are solid, long term investment properties all around us.  You just have to be aware of what's available and what's good and bad.

Enjoy the article.

ARod wants to stop Athletes from Going Broke!

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!