Showing posts with label Net Lease Investments. Show all posts
Showing posts with label Net Lease Investments. Show all posts

Monday, April 17, 2017

Real Estate Commission: Is it a Representation Fee OR Marketing Fee?

Around the first of the year, I started seeing properties listed For Sale with "Price NOT Disclosed."

Now, it's one thing to try and keep the sale of a Commercial Real Estate property quiet.  It's another to know what a property is actually worth and list it for sale at that price.

First: Keeping the For Sale aspect quiet usually means the Owner/Seller doesn't want to lose Tenants IF the Tenant finds out the Owner no longer wants to own a specific property.

But, to list a property For sale and NOT have a set selling price in mind, to me, means the Owner/Seller doesn't know what his property is truly worth.  And, for that matter, neither does the Listing Broker.

And when a Listing Broker accepts such a listing, they actually are doing a disservice to us fellow Real Estate Brokers.

Second: the Owner/Seller/Broker compounds the selling problem with the little known and rarely seldom used: "Buyer to Pay Procuring Broker's fee."

C'mon, really?



Recently, I discussed this with another Real Estate Broker.  He said that if the Owner/Seller is trying to maximize his selling price/value, he needs to make the Selling Price open for interpretation. Meaning, he wants a bidding war.

The problem with that is that unless you have a well located property and it is in a high demand area, you are NOT going to garner top dollar.

And if you think going the auction route is going to get you top dollar, think again.  Most auction participants are looking for a steal.  And, I mean a real bottom dollar type of steal.

Then, on top of that, the Owner/Seller doesn't think they should pay a fee to a Procuring Broker who is representing a Buyer.

Wait a minute!  Why not?

Yes, it is widely known throughout the real estate industry that representing the Buyer is NOT a legal representation.  So, why would an Owner/Seller refuse to do so -- when it is common practice throughout the world.

Plus, when a Broker is helping a Buyer procure a property, yes they have a fiduciary duty to deal with the Buyer in an honest and forthright manner.  But, there is no legal representation.  Real Estate Agents/Brokers are NOT Attorneys.  They don't specialize in law.

They specialize in marketing.  So, when  Buyer's Broker brings a Buyer to a property, the Owner/Seller is (usually) paying the Brokers Listing and Selling a fee -- which they usually split 50%/50% for marketing the property.

So when recently, I've run into this scenario where the Owner/Seller believes that he is only entitled to paying a Listing Broker, I then know that the Owner/Seller doesn't understand the real estate commission fee situation-standard.

What to do?

I think that more Real Estate Brokers need to understand that fact to and stick to the normal real estate commission fee practice in their area of operation.

Hey, I didn't start the practice of the Owner/Seller paying a real estate commission that's split between two brokerages; I would just like to be compensated for helping an Owner/Seller sell their property through my marketing expertise.

Your Thoughts?

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, April 7, 2017

'Hypothetical' Market Value!?

In my years as a Licensed Real Estate Broker, I think I can smell a rat when I come upon a rat.

This is just a revelation of a recent event that took place here in Las Vegas, NV.

A fairly new client is searching for a particular property.  He's young yet has some experience.  He has a particular Acquisition Criteria that to me makes sense.

He is searching for this property type in the $10 to $30 Million range; must NOT be older than 1990; and must be fairly well taken care of (preventive maintenance wise).

Okay, not too many properties fit this; but i am willing to "search" for that type of property given the anticipated fee I would receive upon the close of a sale.

Anyway, with that said, I found a property that fit.



The current owner had acquired the property out of foreclosure and had marketed the property to re-sell.

The problem was/is, the current owner thinks his property can be converted to a resort casino.

(Just so every reader knows, just because you own a property in Las Vegas doesn't mean you can have an Unrestricted Gaming License to operate a casino on your land.)

So, I found the property, negotiated a fee and signed the appropriate agreements to proceed with 'selling' this current owners property.

As the information about the property was received in my Inbox, I perused it and was amused at the verbiage while reading the appraisal.

Digging into it further, I re-read the appraisal and was concerned at the verbiage: Hypothetical Market Value.

Now, as everyone who has ever acquired a property -- most of you might have bought a house -- knows, that the appraisal sets a market value for a property -- usually for the lender's purpose of financing the purchase.

So, when I read the words: Hypothetical Market Value in this current owners paperwork I knew that the appraisal wasn't going to be able to be used for any financing.  And, it would never pass a review appraisal process.  I had a good chuckle.

I called my client and asked if he had noticed that.  He did.  But, he wasn't using that as a basis of value.  He was using the current owner's financials for the property and he determined that the property was worth about half what the current owner was asking.

I had to agree.

Well, I emailed the current owner and told him my and the client's concern about the value.

Even though the property was located on Las Vegas Blvd, it was no where even close to being on the "World Famous Las Vegas Strip!"

And even though the zoning was H-1 -- and there was a resort casino nearby -- obtaining an Unrestricted gaming License on this property was going to be difficult at best.

(FYI: Most resort casinos don't share a property line with a SFR residential neighborhood.  Check that out the next time you are in Las Vegas for a visit.)

Bottom-line here is: Just because you own a Las Vegas real estate property, and just because their street address contains Las Vegas Blvd, that doesn't mean the property is valued at or even worth $10 Million an acre.

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, March 20, 2017

How Do You Make Money Living In Las Vegas?

Not too many people ask me this question.

Most family members and friends understand that I am not too tempted by gambling.  Oh, sure, once in a while I will play $21 in Megabucks.  And I have driven a handful of times to Prim or even to Arizona to purchase a Power-ball ticket.

Yes, those, in retrospect have been such a waste of time and money.

But since the most money that I have ever won at gambling is $150 dollars, I quickly cashed out and put that ticket in my pocket. (I guess I'm cheap like that.)

Anyway, since it isn't a well-known fact, that the average Las Vegas resident gambles +/-$2,000 per month while living here, I like being the one that doesn't gamble at all -- or truthfully anywhere near that amount.

When I first moved here and was searching for a Real Estate firm to hang my Nevada Real Estate License, I had one meeting with a broker at the time who knew just what to do when the subject about real estate commissions came up"

He asked me: 'How do you make money in Las Vegas?'

Stumped, I gave the standard response of: work hard, be persistent, etc.

He said, in his experience, he has seen way too many real estate agents take a hard earned commission check down to a local casino, cash it, and by the time they leave (usually several hours later) they have nothing left.

He took a piece of paper (like below) and wrote the word Casino in the middle, he circled the word for emphasis.

Then, looking at me with earnest intent, he said, "Stay out of the casinos!'

Well, I took that as probably the best advice I had ever heard.  For one thing, I don't like the 'Strip' casinos because they are well, you know, greedy.  And, the noise and crowd isn't something I am attracted to.

Besides, once I moved to Las Vegas I found out for the first time that a casino would be willing to cash a pay check -- without taking the usual 15% that check cashing places take.

I told the broker, that I have a young family and cashing a real estate commission check at a casino wasn't something I was going to do.

I remember him saying something like, 'I hope not.'

It was apparent, that this broker knew too many agents that did that.

Eventually, I hung my license at a firm closer to where I was living at the time, and through the years, I have learned that agents do -- for whatever reason -- gamble away their commission checks.

To me that is probably the dumbest thing you can do.  The reason I know this to be true is: only one person makes money in a casino -- the owner.

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 9, 2017

Simply for the Benefit of Building a Hotel in Moscow

With the "surprise" results of the 2016 Presidential Election, I don't think - looking back -- anything would have changed,

Trump made promises that, at the time, I knew he wasn't going to keep.

"Make America Great Again!" Great slogan!

But his promises to the 'non college educated' will ring hollow.  Several news agencies who have had sit down talks with these former factory workers who voted for Trump simply because they felt he was "one of the union guys."  He is going to bring our jobs back, they say.

LOL!

Trump a union guy?  You have to be kidding me!  Bring jobs back?  My question to these former factory workers is: Are you that uninformed?

+/-60% of all jobs lost since 1979 have been to automation!  Those jobs are NOT returning to human workers!  Never, Ever.

And the guy who you think of as a 'Union Guy,' actually refused to pay the union workers when they did work on his bankrupt casinos!  I don't think of Trump as a union guy.  Never will!

So, don't get me started.

And, with the Trump White House calling the media the "enemy of the state" simply because the news media has dug up information revealing Trump (and/or members of his team) have had constant contact with Russian officials throughout the 2016 campaign, that actually bothers me more than it should.

Apparently, Trump is more than desperate to (allegedly) build a luxury hotel in Moscow.  This is the only thing I can think of that would make him as a patriotic American turn his back on his country, his countries allies, and destroy the America way of life as Trump seems to be (allegedly) doing.

This article is one of the best at explaining the Trump Putin connection situation.

Trump Ties to Russia


I will let you decide whether or not Trump is 'unpatriotic.'

But, wanting to build a hotel in Moscow must be worth more than we can imagine for Trump to put together such a diverse team who all have such close ties to Russia, Russian officials, and Putin.

For one thing, World War II should have taught us that if Europe is divided into individual Republics, it is easier for a more powerful nation to knock them down, one by one, like dominoes.  This is because the neighboring Republics don't want the more powerful nation attacking them.  But, as history has shown, the powerful nation usually attacks without provocation anyway.  (See Germany circa 1939)

But, as a union of united European nations, if the powerful nation attacks one; then, they have attack them all.

And, Putin understands this.  He is all for European Republics being separate nations.
This makes me think that Putin (allegedly) even wants the United States to be 50 individual nations.  You are capable of doing the math.

Also, it is reported that in order to do business in Russia, Putin (allegedly) demands a large portion of that business so he will allow you to do business in Russia.  And, (also allegedly) it has to be given to him.

Just ask any of the Russian Billionaires who refused Putin.  There are stories of them being thrown in prison until they agreed.  (And sadly, some stories say they have even have been killed.)

Its a sad, sad world we live in right now.  Enemies are pretending to be friends; a President is pretending he can lead, and the White House Staff is squirting out the fake news insult phrases when the media contradicts Trump.

I don't know about you, but I find this absolutely annoying.  All it is doing, is helping to divide the United States into the Confederate States once again.

If only the GOP controlled Congress would stand up to the bully at the pulpit.  They could nip this in the butt and right the ship.

So, I ask: Is Donald Trump truly that unpatriotic that he would lead Americans to their demise -- simply for the benefit of building a hotel in Moscow?

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 27, 2017

Urban vs Rural; OR, Blue vs Red

A couple of weeks ago, I wrote a blog about how 57 counties in the US of A are responsible for 2/3's of the nation's GNP; while 3,182 counties or there about only contribute to 1/3rd of that amount.

This got me thinking about an article I read a long time ago from a Princeton University Professor who said we didn't live in Democrat or Republican Societies; we actually live in Urban and Rural Societies.

I now know this to be more true than ever.

For the most part, Urban societies are about growth, working and living close to each other.  This actually requires Urban Society rules of courtesy and accommodation; whereas, Rural Societies are more about individual strength, living on your own, providing for yourself and family what the land gives.  They are more encouraged by self governing, and not worrying about whether your neighbor is making too much noise at 2 AM.  Rural Society feels that any government regulation is an intrusion upon their lifestyle.  So, they are not going to have any part of it.


Once, while talking to an Urban Planner, he remarked that Urban Society rules will work in a Rural Society Setting just as wells as in the city;  but, he continued, that, Rural Rules would never work in an Urban Society Setting at all.

And, I think that is the reason Rural Society doesn't like or fit into Urban Society -- especially when Urban Society moves too close to Rural -- think Oil and Water.

Let's take for example, this current news story from the Las Vegas Review Journal.  A lot of you will have no idea what or where Blue Diamond is -- except you might think that, that is the name of a Street here in Southern Nevada.

Blue Diamond Development

But, a local developer, who acquired +/-2,400 acres on a Mesa in the southwest of the Las Vegas Valley, wants to build single family homes on what was once a Gypsum Mine located on this Mesa; and, the good folks of Blue Diamond, being the proud members of a Rural Society, don't want the influx of traffic, the new homes, and especially -- the number of people who would be using this new development as their place of residence.

That's right.  The current residents of Blue Diamond don't want Urban Society invading (moving into) their Rural Society.

Which is sad, because, with the influx of the new homes, this Rural Society would see the increase the Blue Diamond's revenue, increase in retail spending, newer commercial development, and the ease of expanding their economic output.  Thus, in other words, increasing their profit potential from adding to the County's, State's, and the Countries GNP!

But, because of their 'back off!' attitude; which could easily translate into we don't want your kind, which is mistaken for racial prejudice -- regardless of Who actually moves into the new development, they would forgo the economic improvement to their lives because...well, their Rural Society Lifestyle would have to change -- for the most part.

Now, I am sure that the current residents of Blue Diamond are very, good God fearing, wonderful people.  But, unless they understand that the only way to improve themselves and to improve their lives is to embrace progress, their community will eventually die -- just as other counties in other states where they solely only want their old factory job to be returned to them that in reality is never, ever going to happen.

In an Urban Society, from what I can tell, progress is the way for an Society -- whether Urban or Rural -- to continue to look forward to the  horizon that is directly in front of you.

If you are just looking at what was, and not at what could be, this has and always will lead every Society to ruin.  Just take a look at the numerous ghost towns that failed to see what was coming.

Urban or Rural.  Progress keeps a Society active and economically growing.

Just my two cents.

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, February 11, 2017

Are Congressmen & Senators Non-College Educated, Too?

Don ran an excellent Presidential campaign that focused on core issues as "bad" (when they weren't) and stirring up so much anti Hillary sediment.  While doing this, he confused rural Americans into thinking because he was a businessman, he was the "only one who can fix it" person.

(The problem with this is that throughout US history, businessmen who became president are some of the worst presidents ever! (Don't believe me? Look it up.)

And, this: "I'm the only one who can fix it" attitude, enabled him to confuse and con the rural Americans into voting for him.  They (apparently) goose-stepped to the polls thinking he was going to be able to do what no other President would or could do.

(Boy, did these rural Americans get conned.  The majority of rural counties (+/-3,100) voted for Don; whereas, the majority of Urban counties (+/-57) voted for Hillary.)

And all during the 2016 Presidential campaign, Don kept saying how bad the Affordable Care Act (Obama care) was.  And, by doing this, he convinced rural Americans that the insurance that was actually helping them, was horrible for them.

However, the problem with Obama care, according to the Speaker of the House, Paul Ryan, was that insurers systematically pulled out of states -- thus enabling one insurer to have a monopoly within that state, that enabled them to charge more money in that state, thus the monthly increase in their premiums.  (And, they were able to do this because of the limited, or very, very weak Federal Regulation.)  And because there was no mandate stating: "You must provide insurance to all," They decided that they weren't making enough money.

Through the years, I've asked why there is no Federal Regulation for Insurers -- just as there is for Federal Mortgages, etc.  You've heard of the 'Equal Opportunity' line when applying for a mortgage, right?

So, why is there no Equal Opportunity for Insurance?

Paul Ryan explains why ACA Premiums increased

The reason is: the insurers don't want any Federal Regulation on their industry, so they continually lobby and contribute (pay off) to Congress person elections to avoid being regulated.

The problem is: Insurers are in the business of making money.  They truly don't care whether or not you are healthy; or, have adequate health care coverage, as long as you pay them your premium. That's all they want.

Oh, and if you want to have better coverage, or have a lower monthly premium, you must have a higher than normal deductible.  (Does this sound about right?)

Affordable Care Act Explained

And, the protests we are seeing at Congressional Town Hall Meetings of these Congress persons from these rural American Counties, is having an affect on them.  Even these supposed Non-College Educated rural Americans are finally realizing that they were conned, too.

These elected Congress persons or Senators are starting to feel the heat that repealing Obama care as Don has demanded -- or even changing it to what the insurers want -- will result in them NOT being re-elected.

This makes me think: Are these politicians Non-College Educated, too?  It's obvious, they didn't understand the Affordable Health Care Act in the first place.

I know that Don still doesn't understand it.  (He claims he doesn't like to read, so, I am guessing that he hasn't read it, nor has anyone around him.)

Don't Change My Health Insurance

So, all you politicians: Maybe it's time that you stop taking insurer's money and start focusing on your constituents, because if you don't; if you continue to support a bad president and his lame policies, you will be out of office the next election cycle.

Ignore Constituents and you are out!

Now, I knew that there was a huge campaign to 'Hate Hillary' this past Presidential Election.  I just didn't think rural Americans would be so easily persuaded as they were.

PS: If running for president, please remember: "Democracy was never meant to be efficient."

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

Thursday, January 26, 2017

And that is the way it should be!!!

The Nevada Supreme Court upheld the HOA's right to foreclose on a property which voids any and all mortgage liens that affect the property.



If you are a lender, bank or investment company, and you don't keep an eye on your investment, then losing your interest in that property is the end result.

HOA Auction Story

A few years ago, I went to one of these HOA auctions to check it out.  I soon learned that I didn't have enough money to compete with 99% of the investors there.

But, I watched, listened and learned just what these investors already knew.

Acquiring a property (usually a SFR/condo home) at an HOA sanctioned auction was the best way to acquire one for under market value. (Please keep that between you and me!)

And, the winning bidder receives the property for cash free and clear.

When I was there, two investors continually tired to out bid one another for a home.  The property was eventually sold for $151,000.  I learned that the losing bidder just hadn't brought enough money to the auction.

Later, I looked the address up and discovered it was a Summerlin mansion that the owner couldn't afford the HOA payments on anymore.  The HOA foreclosed, did their necessary disclosure work, held the auction and the bank was out!

And, while there, I noticed that a lot of the homes being auctions off were already bank owned and the banks simply just didn't pay the monthly HOA fee.  Thus, the bank had foreclosed on a property, added it to their asset list and simple stop maintaining the HOA monthly fee.

Well, the HOA needs that Monthly assessment to maintain their communities. So, too bad, Mr. Bank.  I truly don't feel sorry for you for any bank or mortgage company that created and funded those horrible loans 10 to 12 years ago -- just to sell loans on the Secondary market.

And now the bank are considering bring them back, again?  Obviously, the lesson wasn't learned.

Sure, let's buy a home (we can't afford) on a 100% LTV stated income loan!  Stupid is what it is.

Now, hopefully, I will close a few more deals; and then, I will have a little more extra cash to try the HOA auction process again.

See you there!

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

Sunday, January 22, 2017

Could Vacant Malls be Renovated into Schools/Classrooms?

As I await for the continuation of the NFL Playoffs, I was cruising the usual Internet sites and came across an article about Department Store CEOs who are being replaced because of poor retail sales.
(Of course it is exciting to me!)

Anyway, with Amazon and e-bay taking rather large bites from this sector, and the fact that stores and malls are closing left and right, it got me thinking: (I know, not a good sign.) Since most communities still need schools, and most communities can NOT afford to build new schools, why aren't those school districts taking these already built and ready for (their) Tenant Improvement buildings and converting them to schools?



I'm sure that the banks would sell cheaply; or, they would lease to the school district cheaply in exchange for them taking care of the property while the bank tries to figure out what to do with the property next.

It has to be much, much cheaper to place a school into one of these buildings because the big box buildings could be divided into classrooms, auditorium, and gym; they already have the essential elements needed to supply children, teachers and administrators what they need.  Especially the smaller retail stores could be classrooms, etc.



Malls have built in Food Courts, Bathrooms, Hall Ways, Indoor Gathering Areas, Outdoor Gathering Areas, Ample Parking, and ease of access to and from the grounds.

The question I have: Why hasn't anyone else thought of this before?

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

Tuesday, January 17, 2017

The Trumpetters are getting ready -- to be disappointed!

The true title of this post should be: Corruption waiting to happen.

Because it is (allegedly) going to happen.

Trump through all of his businesses (yes! He owns thousands of LLC's which hold various properties from around the world), will result in the end of Trump's reign as US President.

The reason I think this is because I don't think Trump is capable of resisting the urge to make money.  And, as the Emolument Clause says, the president can not make money from a foreign country.

http://www.huffingtonpost.com/entry/trump-emoluments-clause_us_58794852e4b09281d0eaf212

Now, if that doesn't happen, there is another item that I know Trump and his loonies haven't thought about.

Since he owns high rises throughout the world under various LLC's, what will the US Response be when a terrorist group attacks one of his towers?  What if they knock one or two down, killing hundreds if not thousands of people?  You know, like they did with airplanes back on 9/11/2001?

Putting Trump in office will be the biggest disaster in US history.  Instead of paying billions to prevent Russia from attacking Western Europe via NATO, I foresee hundreds of billions being spent being paid for damages, real and punitive as a settlement for Trump's arrogance.

And, even the odds makers are calling for Trump to be leaving office before four years.

http://www.independent.co.uk/news/world/americas/donald-trump-impeached-us-president-bookies-offer-even-odds-us-congress-inauguration-a7531536.html

Unfortunately, the non college educated (STUPID PEOPLE) voted the wrong candidate into office because they were conned into thinking that Trump was going to bring back their widget making/assembling job at $20 an hour. He's not!

Since 1979, +/-60% of jobs lost were lost to automation.  Those jobs didn't leave the US.  They are still here being done more efficiently and at less cost by a machine than a human.

Even the Electoral College -- which Alexander Hamilton originally designed to be a nonpartisan group of Educated people -- got it wrong.

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

Tuesday, December 27, 2016

The State of Nevada earns $35 Million from unclaimed Slot Tickets!

Have you ever left Las Vegas with a slot ticket?  And, once you arrive back home, have you thought: I'll just cash it when I return to Las Vegas?

Well, unfortunately, for you, you only have six months to cash that ticket.  If you don't, that ticket becomes worthless because after six months that unclaimed cash -- whether a few cents or a few dollars -- becomes the property of the State of Nevada.

And over the past five years, Nevada has collected $35 Million from unclaimed slot tickets.

http://lasvegassun.com/news/2016/dec/26/nevada-reaps-35m-in-5-years-from-unclaimed-casino-/

So, before leaving that casino, be sure to cash ALL of the slot tickets or just like that -- POOF! -- the money is no longer yours.

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

Wednesday, December 21, 2016

Happy Holidays!


Happy Holidays! to ALL and let's all have a profitable New Year!






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

Saturday, November 26, 2016

An example of how Trump would be as an International Diplomat!

With Trump's (supposed) win of this year's US Presidential Election, I stand to lose more than $5 Million in CRE commissions that I would have earned if Tump lost.  (Well, he lost the popular vote but is still considered the winner because of the upcoming electoral college vote.)

With that said, I have no love for Donald J Trump ascending to the US Presidency at all.  (He's already cost me money and he isn't even sworn in yet.)

Just after the election, I was approached by a relative who said that I should at least give Trump a chance.  OK.  Chance is over.

Then, this morning, I see this article in the Las Vegas Sun about Trump's Scotland Golf Course Resort development.  When Trump being the pushy bully he is caused him to run afoul of some land owners who refused to be bullied into selling their land to Trump, Trump took his bullying to the next step of invalidating them and bullying them even further.  (Nice negotiating practice.)

Now, I don't know about you, but I truly don't think that, that is/was the way to handle this situation.  (Because I am not privy to any details of this; and I am only going by what is reported here, I will assume Trump sucks as a negotiator.)

And, what this article demonstrates to me is: Trump isn't qualified to be US President -- if this is how he "negotiates" deals.

Throughout most of the free world, bullies are viewed as very, very weak people.  Trump has always demonstrated to me that if he doesn't get his way, he will bully you until he does.

(I feel sorry for the Midwestern voters who have fallen victim to Trump's rhetoric. AND, I felt more sorry for the Hillary voters who helped Hillary win the popular election by 2 million plus votes, but (may lose) the elector college vote this coming December 19th.

(I am hoping beyond hope that the electoral college voters will see through Trump's (phony) rhetoric and vote Hillary anyway -- since they are only required by the constitution to vote for one of the top 3 candidates who received popular votes.  For some reason, I keep thinking that (maybe) the sane electoral voters will vote Hillary since she only needs 270 votes to win the presidency.)

Anyway, here's the article about Trump's Scotland Golf Course Resort (debacle) where he treated the opposition to his course -- well, like the bully he truly is.

http://lasvegassun.com/news/2016/nov/26/in-scotland-trump-built-a-wall-then-he-sent-reside/?_ga=1.250625734.1134444400.1445267813

(Copy and paste in your browser if needed.)

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

Wednesday, November 9, 2016

POOF!!!!

With the Presidential Election results confirmed, Trump is elected to Office.

Now, I don't -- and never did -- agree with the Americans who voted for him, because I know Trump  is never, ever going to bring back jobs that were shipped to Mexico and overseas; build a wall; or last more than 4 years in office.  I am hopeful that the non-educated white male voter will in short time see through Trump's facade; and, then learn to regret they fell victim to his "bring back jobs" jargon.

Why do I think this?

It is because I truly believe Trump has no intentions of actually serving as US President.  Once sworn into office, I think Trump will then resign, because I never understood the reason for a man who makes +/-$500,000 per month accepting a position that only pays $450,000 per year.  I think he will return to New York to continue his charade as a billionaire businessman. (That's just me thinking out loud.)



As for right now, most of this post-election day after, I will be spending trying to contact and convince my international hotelier client -- who is just about impossible to reach on a regular basis -- to proceed with acquiring the Las Vegas Resort I wrote the offer for.  I hope that I will be able to alter his stance of not moving forward if Trump is elected.

And, yes, I am well versed in Tom Hopkin's "How to Master the Art of Selling" sales closes.  But, so is my client -- which you would expect him to be, right?

(Seems my work is cut out for me, wouldn't you agree?)

All I can say is: I am just going to move forward; strive for a better life for myself, my wife, and my adult children.  And I hope Donald doesn't do or say anything else that will lead to other people's lives being dramatically altered for the worse.

Oh, well.  Moving forward.

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

Friday, October 28, 2016

Why am I still worried about a Trump Presidency?

A few days ago, MSNBC ran a segment on this year's potential electoral college vote.  As it stands, Clinton already has enough electoral votes if she wins the General Election.

And, MSNBC said, that if Trump wins all the current 'swing states,' he still comes up short to Clinton by 272 to 266 votes.

This means, they said, that Trump has to "flip" (their word) one of the states that is solid in favor of Clinton in order to win the US Presidency.  (MSNBC doesn't think he would be able to do that.)

Well, if this is true, why am I still worried?

So, I did my own research on this topic; and I found that what MSNBC said is true.

So, even after researching this, and seeing that, that possibility isn't going to happen, why are other news organizations still saying that Trump may have an outside chance. Oh, my!



I even saw Karl Rove on FoxNews say that Trump has already lost the election.

Anyway, the reason I am rooting for Trump to lose is that I have a written a Purchase and Sales Agreement for a Las Vegas Resort Property. This 'offer,' currently in the Buyer's hands, is waiting for the US Presidential Election result before his board will allow him to authorize me to submit it to the Seller.

Yes.  The offer is a very large sale. (In the billions.)  Yes. The commission of said sale is very large. (In the millions.)  And, Yes.  That is the reason I am so worried about Trump winning.

If Clinton wins; I win.  If Trump wins; I lose.  It is as simple as that.

(With apologies, I am headed back to needlessly worrying about this.)

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

Monday, October 3, 2016

Snake Oil Salesmen!

There are real estate agents in Las Vegas, NV that I truly don't want to work with. (Sorry about ending a sentence with a preposition.)

The reason is: I don't understand these agents obsession with wanting/having to double end every deal (List and Sell) that they have.  I love double ending deals, too.  But, if another agent has a qualified buyer, there's no skin off my nose to split the commission.

And, their mentality about this element is very, very annoying.

You call them to ask a question about one of their properties; and they never, ever take your call, return your call, nor even reply to an email.

(Now, I want to out these agents! I truly do.  Yet, in the future, I will have to have some form of transaction with them (hopefully, not) but they are here and don't seem to be going away anytime too soon.)

Recently, I was talking to a group of attorneys who own a building where the three are partners in the building where they also have their offices located.  One is moving on -- as in being kicked out of being an attorney (it happens); one is going on a mission (retiring); and the third wants another (better) location.

Anyway, I made a pitch for the listing and told them that I thought their building would sell at around $183 PSF!  Good price given the fact that the last ten years worth of real estate foreclosures really drove prices way down.

Yet, when I was done with my presentation, one of the attorney partners boldly stated that I had used the wrong comparable sales!

Say what?

He said another broker (actually the other broker is an agent) had told them that he could sell their building at $215 PSF.

I was like, really?  The partner attorney said that the broker (the other agent) had better comps.

I reiterated that I had used the best comparable sales within their zip code and all the zip codes around them.

I asked which comp specially did he use to use as in like to like properties?  The partner attorney said the address.  I was stunned.  Apparently, the other broker (agent), had used an ambulatory building (an urgent care facility) as the best like property to their subject basic office building.

Now, the finishes in the subject property are upgraded; there is marble flooring in the entry -- and along the carpeted halls; there is wood trim everywhere with an upgraded reception desk, too.

But, since the ambulatory building sold six months ago to an investment group buying the property as a NNN investment, sure, the price PSF is going to be higher, but: IT'S NOT A COMP!

It's not a like for like property.  It is a completely different building and use.  And, the zoning is heavy retail.  (They are in a Professional Office Park.)

And, I reiterated all of this to the group in the hopes of dis-swaying them, yet I got the feeling they were NOT impressed.  They had been SOLD by the other agent.

Anyway, long story short -- I didn't get the listing.

After returning to my office, I was re-telling my adventure to one of my two agents.  After, the retelling, she stated: Snake Oil Sales Men!  She knows the agent to whom I am referring to.

I could only agree.  Yet, I told her, there are three attorneys and if something goes wrong during the listing, at least I won't be the one facing 3 angry lawyers with the capability to sue.

God, I want to disclose this company's name.  No, I better not.

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

Wednesday, August 17, 2016

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

Monday, August 1, 2016

Trump: Flimflam man?

A few months ago, I did an Internet search for businessmen who became presidents.  Some were senators and congressmen before becoming president.

But, these supposed businessmen who were elected president had one thing in common: They were all in the lower half when ranking them as successful presidents.  (I think the highest was 26.)
Anyway, on the opposite end were the successful Presidents.  These men all had one thing in common: they were failed businessmen.

And, by far the most successful president ever was even considered a failed lawyer.
Go figure. (Or, Google this yourself to verify.)

Now, as for Trump's "Successful" Las Vegas Tower.  People may look at it and wonder how this became so successful.

Well, it was headed into foreclosure in 2010-11.  How do I know this?  Well at that time, a Los Angeles real estate investor client, called me to ask if I could do him a favor and get him quality comps for the Las Vegas Strip condos.

I asked, 'Why?"  (The reason I asked is because I don't sell residential real estate -- at least not individual properties.)

Anyway, he told me that the bank holding the note had contacted him to see if he'd be interested in acquiring the loan.

(Now, this is not unheard of since lenders do this all the time. (It's one of the factors that led Wall Street into their collapse in 2008.))

Anyway, I got the condo comps and sent it to him.

He decided to NOT purchase the loan because, upon receiving the comps, he knew the bank was asking way too much per unit for him.

Later, when talking to this very same investor about another property, I asked what had happen to that loan.

He said that he was told by the bank that Phil Ruffin had paid it off.

(Apparently, Phil still owned the land separate from the tower and wasn't going to chance losing his investment in the land to the bank foreclosing on the tower when the condos didn't sell.)

So, if Phil didn't mention this as a Trump success at the Republican Convention, I guess Phil would know first hand.

Lastly, I doubled checked the ownership on this property recently and most of the units are currently owned by Hilton Vacation Timeshares.  Phil sold the remaining unsold condos to them after he had started to use this building as a timeshare component of his TI Resort Property.

So, if Trump is heard talking about how successful his Las Vegas Tower has been, remember, here is another building with the Trump name on it where he only owns the condos on the 33rd floor.

I guess getting your name on a building you no longer own is something to brag about.

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

Monday, July 25, 2016

Las Vegas CRE with +/-8% Cap Rates are NOT selling! Why?

You know, I believe that anything is possible.  I think it's the optimist in me.  So, when the economy turns and I see deals starting to come along, and they turn to steals, this is when I believe that I can help any investor buy any Las Vegas investment property.

However, the problem I am having today is kind of complicated.

You see, there is an election going on in the US and both candidates are either well liked; or hated.

The sad thing about this is -- since I am subscribed to several property listing services -- I am being barraged with other CRE company's emails claiming that they have SOLD property in surrounding states at such a high price (or low Cap Rate) that right here in Las Vegas, Sellers are struggling to even attract investor's attention at +8% Cap Rates!

I am, after all, more than willing to help a Seller get as much money for their property as long as the Buyer is willing to accept the Seller's price as a great deal (maybe a steal) from acquiring a real estate property.

What confuses me more than anything else is that our +8% Cap Rates are a steal!

Especially when a McDonald's in Southern California sells for a 3.54% Cap Rate!!  OR, a Walgreen's in Arizona Sells for a 5.33% Cap Rate!

I find this not only confusing, BUT unbelievable!  Why would an investor buy such a property at such a high price -- just because it is located in another state?

IF you are NOT one of these investors, or you are and are now just realizing your mistake, please send me an email and I will gladly send you the latest on the better than average CRE properties that are currently available.

I appreciate your support.

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

Monday, July 18, 2016

'You hook them by selling the dream..." former employer selling a get rich quick scheme

Years and years ago, while I was living and working in Los Angeles, CA I worked (very shortly) for a person who was selling success!

Yes, I was young and fell into the trap of getting rich quickly, but I got out just as fast before I invested any money in his scheme. (Good thing for me: I didn't have any.)

Anyway, I saw this today on CNN about democrats living and working in Youngstown, Ohio who have fallen for Trump's scheme.  You know, the one about how he is going to fix the numerous problems that Americans currently have: lack of jobs; desperate about what is in their future.  You know the routine.

While watching this on the Internet, I immediately thought back to the old saying spouted by a person who I shortly worked for.

"You hook them by selling the dream that they can make it rich.  You and I know that most are never, ever going to be rich, but that's what you sell them."

(After realizing the impossibility of his scheme, I exited his employ to his invalidating harassment for a few months that followed.)

And, that's how I felt for these people that were interviewed in this news piece.  They are desperate and are searching for a quick answer to their daily problems.

http://www.cnn.com/2016/07/18/politics/cleveland-youngstown-ohio-democrats-republicans-political-anthropology/index.html

You see, this town lost their steel industry, and they fully believe that Donald Trump is going to bring that back to Youngstown, OH.

Now, every sane person does realize that as long as the corporate CEO's are making more money by having their industry in a country where they don't care about their environment, that is never going to happen.

What these people -- who have been suckered into thinking this impossible dream -- don't realize, is that Americans are NOT going to work for the low, low wages being offered and accepted in China.

Unfortunately, these middle-aged white people long for a former "better day" where jobs were just down the street. You know just before the steel factory that was ordered by the EPA to stop polluting.

Okay, says the CEO, off to China we go!  (Hey! They stopped polluting!  Well, they stopped polluting here in the US anyway.)

Lastly, the jobs are going to stay in China regardless of who wins the election to occupy The White House.

The reason: Americans want and will always demand clean, drinkable water; clean, breathable air, and to be able to eat non-contaminated food.

And, they will demand to earn a livable wage -- which is higher than what the CEO's are willing to pay.

So, Trump's selling a dream that he will never, ever be able to deliver -- but that is what is most important: Hook them by selling the dream.

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

Sunday, July 17, 2016

No matter who wins the US Presidency, there are good deals in Las Vegas CRE today!

With the US Presidency up for grabs (I truly didn't think Trump would make it this far), there are still a few very good buys in Las Vegas as we sit here today.

However, several out of country "Buyers" keep telling me they want to wait to see "what happens" come November.

It's as if they could care less whether they get a deal on a property or not.  No matter what I recommend on these properties -- they have a horrendous need to wait and see if the US General election voters will pass their litmus test.

Yes, they fear a Trump Presidency.

If I had the money, I would have already bought all of these properties, because I know regardless of who wins, the deal will be in the re-selling of the properties to these very same procrastinators.

So, right now, these Buyers are like, ugh! Trump may win the presidency, Oh, God, No!

But, since I recommend that you buy now while these properties are still at a good price; the buyers  would rather wait to see who wins the presidency to acquire that very same property!  Which will be at a higher price regardless whether Trump or Hillary win!

SO, all you Buyers, you are just killing any chance at acquiring a good property at a good price/deal.

Now, I will tell you all of the STEALS are gone! That window closed a few years ago!

However, the good deals that I am talking about could make you money over the short term (5 years) AND long term (10+years).  You just have to have faith in the future of Las Vegas -- which is still growing!  So, forget about the US presidential race.

Whoever wins, is going to be hated by 50% of the electorate anyway.  And, I have no control over that scenario at all.

So, if you are a serious Real Estate Investor -- looking for a Good Deal -- take the time to please give me a call; and stop worrying about Trump's ignorant arrogance; or whether Hillary's (alleged) criminal activity will hurt you or her.

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