Showing posts with label Las Vegas Strip!. Show all posts
Showing posts with label Las Vegas Strip!. Show all posts

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!

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!

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, 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!

Tuesday, November 12, 2019

When a Buyer needs a Seller Carry Back, the Property is being Flipped!

You spend a lot of time exerting a lot of effort marketing a property for sale.  Then, you run into a Buyer who claims (says) you don't need to work so hard. 

They're easy.  They have all cash and can close real fast!

You think your efforts are finally paying off!

Phew!  That was .... Wait!

That was too easy....

And, so it goes.  You work so hard to get a fair market value offer for a property listing, and then, all of the sudden, along comes a Buyer with cash. (So, they say.)  You think your effort has finally come to fruition?  Or, has it?

This is a scenario I have run into for a long time since I obtained the Listing on several Las Vegas Properties.  I worked my marketing magic as best I can; and, then out of the blue comes a Buyer (a Flipper), who presents themselves as the key to my success.

(They claim) They are an ALL CASH Buyer who can close easily and quickly -- if the Seller can carry back a 2nd for six months to a year.

Sound familiar?

I've heard this a lot in the last year or so.  It's become so redundant, I can recite their pitch in my sleep.

The Seller, who I have known for a long, long time, is a well educated property owner with a lot of experience in owning, buying and selling real estate.

And, yes.  He buys low and sells high.  (That's the Golden Rule of Real Estate.)

So, when he told me he will NOT carry back a loan, I knew, right from the beginning, he knew the secret of a Flipper.  That is because he's a Flipper, too!

But, since I've known him, he's always been the real ALL CASH Buyer type that does pay ALL CASH and he does closes quickly. (Less than 30 days).

He isn't a Buyer who tries to get a carry back from a seller.  He pays cash, fixes the property's problems, then re-sells.

Moral of the story, if you are a flipper, and you want to steal equity, you need to do it quietly, quickly and move on to the next property in a blink of the eye.  To do that requires ALL CASH. 

Get in.  Close.  Then, Get Out.

Carry backs only keep the Seller's interest in a property.  It allows the Seller to keep an eye on what you are doing.  And, that creates the problem.  Once the Seller knows you are stealing their equity, that's when the Buyer's problems begin. 

And ALL of Your Efforts were for not.

Moral of the Story, I will keep marketing and putting my effort into finding a Buyer who wants to own the property rather than someone just looking for a flip.

It really does matter.

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, October 25, 2019

Attention, Lowball, Bottom Feeders! Don't Bother!

Last week, while back in "Boston" where I grew up, the extended family gathered together to celebrate the passing of our mother.

She was a 90 year old spit fire.  (Okay, you get the picture.)

Anyway, after the wake and before the funeral, we went to her favorite spot and we each had our favorite drink in a toast to honor of her.

While there, my youngest brother, who is a Colonel in the US ARMY, and I were discussing local real estate events. (My Apologies.  I can't help myself.)

He had been a real estate agent for a short time years ago but could never make a go of it.  (Maybe because he was fully into being an Army Officer?)

Anyway, while discussing the multiple low-ball offers I get for my listings in Downtown Las Vegas, I was complaining that too many of these bottom feeders feel entitled to steal the Seller's equity value of a property listing.

During our discussion of this, he said, (paraphrasing) if you treat the low-balling Buyer seriously, maybe you could work a deal.

I knew then that he didn't understand how real estate works. 

I replied: Since I am the listing Broker, my fiduciary duty is to the Seller.  If a Buyer makes an offer too low, I am going to tell the Seller to reject the offer.

Now, several of these rejected low-ball buyers do return and try, and try again and again.
(It's as if they are masochist and want the punishment.)

Yet, the market value (per Comparable Sales) keeps going up, but their offers stay the same.

What did Einstein say: If you keep doing the same thing over and over, and expect a different result, you must be crazy or stupid?

For a fair, Las Vegas market value deal, you can...

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!

Sunday, October 13, 2019

No one else will offer $250,000 non refundable!

This Buyer is Correct!

The only type of Buyer who would ever offer a Non-Refundable Earnest Money Deposit -- non-refundable and released to the Seller upon the Opening of Escrow -- is a sleazy Buyer!

They are the type of Buyer who think they are smarter than the Seller; Think they are smarter than the average real estate agent, (okay, maybe they are correct about that); and, they try as hard as they can to steal the Seller's hard Earned Equity.

I have a vast amount of experience dealing with these types of Buyers.  No, I don't like dealing with them because they drain my battery.

They are a waste of time.  They keep pushing the scenario of just how little the subject property is worth; yet, if they owned it, they'd be pushing just how much the subject property is worth.

So, if a property is listed for sale with me, I do my best to maximize the selling price.  Do I lose a lot of Buyers because of it?  YES!

But rest assured, they are the Buyers you, as an owner of a Commercial Real Estate property, don't want to be dealing with.

However, as the Seller of any Nevada Commercial Real Estate Property, you can hire me to list the property at a fair market value, and I will 'Damn the trenches' to find you a qualified Buyer.

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, October 2, 2019

You ever get used to being lied to about Las Vegas Resorts?

About a year ago, I wrote a $900 Million 'Offer' for the Rio All-suites Hotel and Casino.  That investor needed more time to put together the acquisition money than Caesars was willing to wait.  So, it went no where.

Now, the reason the Offer I wrote was so high in price was because the land value of the 88.53 Acres which the Rio sits on his worth about $11 Million an acre.  Thus, the $900 Million offer.

After that offer fell apart, Eldorado Resorts came along with their attempt to acquire ALL of Caesars in their stock deal.  At this time, I was told by my contact at Caesars that the sale of the Rio was being put on hold until Eldorado completed their acquisition.


Ok, makes sense.  Let's wait.  (I should never have waited.)

Then, a few months later, I was shocked to read that Caesars Sold the Rio at about half of the land value for the whole property!

Even to today, I am flummoxed as to the reason they moved forward on such a low ball offer.

Now, the Rio buildings and such were the victim of the lack of Preventive Maintenance.  Before and during Caesar's Bankruptcy, they did little if anything to cure items that could have easily been fix, replaced and of in general taken care of.

Thus, the dire state of the existing structure. (As one retired casino executive said to me one time, "Duct tape on the carpet is NOT a repair."

So, all I can do now, is hope that the current buyer, who is in escrow, doesn't close and I find an equally qualified buyer to close on the property.

Are there other resorts available?  Yes. 
Are they expensive?  Yes.
Are there hotels/motels available without gaming?  Yes.

To find out more....

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!

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!

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!

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!

Sunday, August 11, 2019

SMOG!

Climate Change OR Climate Change is a Hoax.

It doesn't matter which side you are on.  No matter where you go, just about everywhere -- especially in urban areas -- you will encounter SMOG!

So, in the US, Smog isn't considered a health hazard (Or, is it?)

Now, if you go to China, for example, their Smog is so bad, you don't truly want to go to China.


But, yesterday, my wife & daughter took a day trip from Las Vegas to Los Angeles to well, just do a day trip.

Now, they did drive using our daughter's Toyota Prius hybrid.

When they had returned late last night, my wife said, (paraphrasing) You could see how bad the Smog was as we drove down the hill (the section of I-15 through the Cajun Pass).


Yet, because they were on a mission (from God?), they continued on.
But, as they continued, the Smog didn't get any better.


I think the problem with Smog comes from the density of Cars with Combustible Engines.  And, even Jay Leno, who is probably the most well known Auto enthusiast, admits that the electric car is the future.


But, since our daughter had driven for a ride sharing company (and made very little money), she has taken saving gas money to heart.  (She also with her hybrid is doing more to save the planet than most of us (me included).


But, not to put the blame squarely on Los Angeles or Southern California, Las Vegas has a growing Smog problem, too.

Lately, I've been considering buying a hybrid, also.  Maybe even a Tesla.

My problem is the same as all baby boomers: we grew up with muscle cars and we think that's the standard of any automobile we drive -- regardless of it's combustible engine size.

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 2, 2019

Algebra! It's my curse!

The odd thing about this is, my Dad was an electrical engineer; thus, algebra was easy for him.
My wife, also, understands algebra.  She uses it everyday at her commercial interior design firm.

I even have an uncle who has a phd from HAAV-VAARD who I know and understands algebra, too!

But, most of you, are probably just like me.  Algebra is the foreign language -- much like currency exchange -- where you go: Huh?!.

I bring this up because, unlike (most of) you, I work in Commercial Real Estate (CRE).

I like to think, I am (supposedly) good at it.  My job requires me to dig up sellers and buyers; put them together through a real estate contract; and then hopefully, they exchange a property for a cash value!

Every one's happy, right?

What most people don't see -- nor will you understand -- is the amount of time spent just digging.

Most Sellers don't trust real estate agents; and most Buyers don't trust real estate agents, either.

So, getting one or both sides of this equation to trust you requires me to do a lot of algebra!

One day, I will probably understand the how I was able to get to the there! The combining of the elements to complete a transaction.  But, for now, I am not going to just sit around waiting for a Buyer or Seller to just show up at my door.  It's because the answer to all CRE completed transactions is and always will be algebra to me!

Anyway, in my nearly 30 year career, if you are interested in pursuing a Navada CRE property. Whether it is a Las Vegas Resort Casino Hotel opportunity, or a simple everyday Income producing commercial property, all you need to do is realize there's one broker in Nevada who does have a reputation for being (too) honest with clients.

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!

Tuesday, July 16, 2019

The End Is Near!

For a few years now, I have been coming across ads where a home Owner, considering selling their property, can do so without the aid of a local real estate professional.

It's a sad, sad day when another career is doomed by the Internet.

Below is just the latest I have come across that makes it sound super easy to sell your house and save big time on that nasty Sales Commission.

The End Of The Real Estate Professional!

But, since most of these sites will only offer you a low ball price, you are risking losing that sales commission in a lower offer and acceptance.

So, is selling your house (supposedly) hassle free worth it?


Real Estate has in the long run become the same as selling your car.

You want the most money you can get for it, but are you getting the most?

These "hassle-free" sales tactics, are just that: tactics.

When you "trade-in" a car at a dealership, the dealership usually only will value your car at about 65% of Low Blue Book value.

Why?

Because they want the equity -- if any!

The same applies to these hassle free real estate sites.

Hey, I will give you cash right now for your house!

(But, it's the cash amount I want to pay you, not the cash amount your house is actually worth.)

So, go ahead.  Sell your house to one of these sites.


Sure, you will be saving money you weren't going to receive anyway.

But, it's a deal! -- To the Internet buyer!

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, July 7, 2019

It Escapes Me Why Investors Pass on This Steal of an Opportunity!

It's a 10.969% Ca Rate!

There is plenty of room within this investment to see a very good Return On Investment (ROI).

So, why are investors so determined to low ball and steal equity from an Owner?

It boggles my mind!

The Owner has already given in to losing some of his earned Equity; but he is mindful to keep some.

The Three Motels can be acquired at a 12.9% Cap Rate!

Starlite Motel
The Economy Motel
The Casa Blanca Motel
Yet, the Studio Apartment property is the one property ALL of the Investors want; but they keep low-balling even when presented Comparable Evidence their offers are way, way too low.
Alpine Motel Apartments
I'm flummoxed.

So, I will keep trying to obtain a Market Value Offer and Close on these properties anyway I can.
It's a Steal either way it is bought; and a loss to the Owner, still.

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!