Now, This Is What I Have Been Talking About!

As this link shows, 100% of Professional Athletes will experience unemployment in their future.

That is why I have been so vocal about young athletes acquiring a CRE NNN property early in their careers so that they will have an income producing asset to fall back on for monthly income once the lay-off or employment termination comes.

http://schoolvideonews.com/Broadcast-Journalism/Pro-Athletes-and-Sports-Broadcasting

The author is a former professional athlete, so I think he knows.

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

Inexpensive Commercial Properties For Sale in Las Vegas!

Recently, my email Inbox is receiving inquiries about Las Vegas Commercial Properties.  And, being the Full Service Real Estate Broker I think I am, I try my best to respond as quickly and efficiently as possible.

I even have had a few telephone calls asking the same.

Anyway, just to give 'other' blog followers updated information; It is true: there are a variety of small commercial properties in Las Vegas that are under $500,000 that are For Sale!  They consist of Multi-Family (in the 3-4 unit range), Retail, Offices and Industrial locations that are For Sale in the Las Vegas metro area.

Now, most are Listed For Sale in the $200,000 to $300,000 range; Most are smaller than you'd think (less than 5,000 SF); and all are pretty well located on or near very busy, high traffic streets.

So, if you have been hesitant about contacting me in the past because you feel you may not qualify; or feel that buying in Las Vegas is so far away, please rest assured that most can be managed by a local property management company by a broker I know very, very well. (She's very, very good.)

And, the listing price is just that: a Listing Price.  It does NOT mean that it is Non Negotiable!  There is some wiggle room to get to a selling price.

If you need to qualify for a loan, I can help you there, too.  A lender will need to see your financials. In order to qualify for a loan, financials are required to verify your ability to buy/finance a purchase.

So, you may ask: WHY? would I give David Howes a call to buy in Las Vegas, NV?
My answer: I can get you an income property that can provide you with a monthly income.  It may NOT be thousands of dollars a month in rent; but it will be a start of building a real estate portfolio.

And, earning a few grand a month, does help with monthly bills and helps you build equity for the future.

So,...

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

Smart People Will Listen to You!

Yesterday, my younger brother, Tom, called to say 'Hello!'

I found out that Tom had to have surgery on the shoulder that he thought he dislocated back in February this year when he slipped and fell on some ice.

As it turned out, he actually tore his rota-tor cup and the doctor finally ordered surgery. (I hate insurance companies.)

Anyway, being out of work for awhile, he was bored and thought he'd give me a call.

I updated him on how bad sales of CRE properties are going in Las Vegas; and how many, many potential buyers are ignoring my advice.  They are still waiting for the market to turn as far as I can tell.

Then, he said something that surprised me!

He said, "Don't worry.  The smart people will listen to you, forget about the rest."

Huh?!  I immediately thought: Have I been dealing with dumb people who I thought were smart?! -- You know the ones who won't take my advice and buy the 8% Cap Rate properties that are available here in Las Vegas? But, will buy a 5% Cap Rate property in another state?

I just thought that they knew something more about Las Vegas than I did.

Anyway, he went on to say, that "the buyers will eventually come around.  They most likely want a steal and they only view Las Vegas as deals."  Okay, good point, Tom.

The problem with that theory is that a 5% Cap Rate is a high purchase price that is more in favor of the Seller.  Anyway...

We then got into how he has been using his down time to fix up his rental property -- surgically repaired shoulder and all -- Blah, blah, blah.  The usual stuff you go through when you are a landlord, too.

But, if you are smart.  And, truly are interested in a Las Vegas CRE Property, my contact information is...

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 Mortgage Payoff - Part II

About a week ago, I posted that I wanted to pay-off my equity line turned second mortgage.
And, I want to do it by negotiating a smaller payoff deal.  Since Shellpoint Mortgage acquired my loan at a discount, I wanted to share in that discount.

They originally sent me a full pay off timetable.  But, since they seem to NOT understand what I am asking, I made a counter offer.  Since, they have not responded.

Anyway, I had to emailed them through their website since their telemarketers are NOT knowledgeable about the loan business; and they truly have no authority when it comes to real mortgage questions.

Anyway, my counter was met with the response that their Loan Services Personnel are NOT allowed to contact debtors directly.

Say, what?!

All I want to do is to write a check -- or set up a wire transfer -- for a final payment that we can negotiate fairly.  I know that there is an acceptable amount to both parties other than the full loan amount that I owe.

I think it's only fair since they acquired my loan at a discount -- most likely 25% of the loan amount owed.

How do I know I can do this?

Well, you see -- most of my clients are in the real estate investment business.  They acquire a lot of their property from said lenders who have "bad loans." My clients buy these loans and then foreclose on the property.  And, they buy these loans at a discount.

And, since late 2008, this has been happening all over the US.

Anyway, I saw this article about home owners equity and how people are NOT taking equity out of their homes (smart) and thought it interesting.  (It's been ten years since I did that and now wish I hadn't.)

http://www.cnbc.com/2016/07/12/owners-could-pull-another-260-billion-out-of-their-homes--heres-why-they-arent.html

Hopefully, Shellpoint will get their heads out of their derrieres and give me a call.

Please enjoy!


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

Update on Las Vegas Resorts! Wrote an Offer for a Strip Resort Corridor Property!

For those interested in pursuing a Las Vegas Resort, Hospitality, Gaming or Restaurant Property, you will want to continue reading.

This past Friday, (October 14, 2016) I submitted a Purchase and Sale Agreement to a Buyer for a Las Vegas Resort Property.

Now, I want to be careful because I don't want to give anything away.

But, if a 'major' Las Vegas Resort is within your acquisition criteria, click on the Las Vegas Casino Information button in the right hand column.

There you will find the Non-Circumvent, Confidentiality and Commission Agreement.  Please print this form, fill out completely, have your company's signatory sign, then scan and email the signed form back to me for further details on properties that are available.

You will also have to send me your complete contact information so I can better get a hold of who you are, your company's acquisition ability and to be able to discuss the property details with you.   Just so you know, there are several layers of gaming type licenses in and around Las Vegas -- and the entire state of Nevada.

So, contact me directly, and I will be able to start a dialog with you about the various properties that i will send to you so you can read the details firsthand to better judge for yourself the extent of your interest in acquiring Las Vegas Gaming properties. If what I send you is of no interest, just simply delete and wait for the next.

Hopefully, the above mentioned PSA will be quickly signed by the Buyer; then executed by the Seller.  Once this phase is complete, we open escrow.

I appreciate your patience in this and hope to be able to bring you other Las Vegas Properties to you for your review in the next few months.

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

Las Vegas Commercial Real Estate Resort Investment Property Do's and Don'ts!

For some reason, quite a few "investors" ask me about financials for certain 'well located' Resort, Hotel, Motel and Gaming Properties.

Looking at and analyzing the financial statement would be the normal way of processing whether or not a 'well located' property is worth a specific sales price.

However, these well located properties suffer from the fact the Owners do know all about the situation of the prominent location of these properties.  Since most of the 'Buyers' are unaware, it is important to know -- before even asking -- that the most important features of these properties are: the H-1 zoning, the fact that they lie within the Clark County Gaming Overlay; and that there is a future upside IF certain elements of the surrounding properties do ever evolve into a massive development.   So, what is the current owner to do?  Well, that answer is easy: they hold out for their price.

Unfortunately, these well intended Buyers come along and 'think' they are smarter than the Sellers; and they try in vain to overtly explain why the property isn't worth, for example, $10 Million an acre.  (This is an approximate measure of value that the land under the resort hotel, motel that Sellers use as a gage to establishing the sales value of a property.)

The problem with this is that there are some Buyers who will -- because of a sense of desire -- overpay for a property -- thus set an unrealistic bar for us Real Estate Brokers.

Yeah!  It is great for our bank accounts.  However, it sends an unrealistic value ripple effect through the neighboring properties.

When this happens, the Owners/Sellers now think that their property is worth that or more simply because their properties are NOT vacant, better maintained, even though NOT as 'well located.'

I don't want anyone to figure out "who" I am talking about.  Let's just say his intention is good; his execution is bad.

So, when I know of a property for sale at $1 Million an acre, lets say, that is the price set by the well intended 'Seller" because of the fact that a similar property down the street sold for close to that amount.

And because of this established price, any financial information I have will NOT reflect the Sellers Selling value adequately.  And, I do know that the financials only show a Cap Rate; and, I feel like an idiot for taking a listing at that high of a price.  But, since the Seller has bought and Sold properties through me over the years, I want to service them as best I can.

You understand, right?

So, out of state Buyers, please pay attention, when you review marketing information I send you, just remember that the financials have played little in establishing the selling price of a Resort Hotel, Motel, and/or Gaming asset -- especially along the "Strip."

So, 'Do' ask me questions about Las Vegas Commercial Real Estate!  I will answer them as honestly and as effectively as I can; but, please 'Don't' come to Las Vegas thinking you are going to acquire a 'well located' property below market value.

There are certain 'things' about Resort properties that I know that make that property worth more than the financials reveal.

Are we on the  same page?

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