Showing posts with label Strip. Show all posts
Showing posts with label Strip. Show all posts

Tuesday, February 20, 2018

Investing in Las Vegas Makes Sense!

Here is an investor's perspective on his involvement in acquiring Las Vegas real estate and why it made sense to him!

Why-Investing-In-Las-Vegas-Real-Estate-Makes-Sense!

Stop delaying!

Contact Me Now!

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

Tuesday, January 30, 2018

Quick! It won't last! There's an 8% Cap Rate CRE Property For Sale in Las Vegas!

This is to alarm you!

I am NOT seeing property prices going down!

I am seeing them stabilize and in some case go up!

I know all of you are searching for that Mystical Steal!

Well, here it is!

That's right!

There is an 8.5% Cap Rate CRE Multi-Family Property in Las Vegas that needs to be acquired.

Generally, in Las Vegas, NV, most properties that would be listed at or near an 8% Cap Rate are properties I would NOT recommend to you.  These properties will have lots of hair on them and trying to trim the excess follicles will be daunting.

The problems could be that the tenant leases have less than 3 years remaining -- with no more tenant options; or they are a weak non-denominational church (type) tenant; or they are basing the 8% on whether or not the new owner will be able to re-lease the remaining vacancy up in a short time period post escrow (Not Likely).

So, if any agent, whether they are here in Las Vegas or elsewhere, is telling you, you can acquire a property for an 8% Cap Rate, please expect the sales prices to be more or less in the 6.5% Cap Rate range.  At least your chance of a better tenant or longer lease exists with that property.

BUT, with that said, this multi-family/hotel apartment property is netting +/-$20,500 per month!

Yes, it is in Downtown Las Vegas; and you could walk away with the 'that's a down and dirty property' attitude.

Yet, the tenants here are long term and the property sits right smack in the City of Las Vegas Redevelopment district.

Besides, housing is needed in this area; this is housing; and Tony Hsieh is building an apartment complex down the street.

If you don't want to buy it, lend me the money, I'll buy it and flip it in a year or so when the price has increased.

Or, I'll refinance it and pay you off.

Interested?

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

Saturday, January 20, 2018

"On the Edge of Sketchiness!"

Having lived and worked in Las Vegas Commercial Real Estate (CRE) going on 21 years, I have learned a thing or two about Las Vegas that most tourist will never ever know -- or even want to know.

Las Vegas Resort Casinos are prime properties.

It's as if the entire Las Vegas economy revolves around whether or not a resort casino is doing well economically or not.

For the most part, casinos generally do well.

Some are doing better than others.  Yet, some seem to just limp along month to month and these individual properties suddenly close or are sold quickly.

Recently, there was a lot of Internet talk abut the Rio being for sale.  I know one of the main executives at Caesars and he tells me that there is no way they will sell that property.

Then, my business partner who is a retired gaming executive who worked for Mike Ensign for years, tells me one of the board members wants him (the gaming executive) to bring an offer.

Do you see the problem?

Anyway, recently an 'Off Strip" resort casino property was in the news.  Now, the owner did give it his best effort to attract people to his property.

But, sometimes even the best laid out plans run a muck.

I recently found a potential buyer for this 'Off Strip' property, but just before we were to write an offer, he says to me that his investors were NOT willing to acquire a resort property that is on the "Edge of Sketchiness!"

This surprised me.  But, it shouldn't have.  The reason is that the property is located right smack on the Edge of Sketchiness.

As we spoke, he affirmed his investors position by reminding me of the other recent failures in this area.

SLS (former Sahara) was his prime example.

The SLS was once a nice property (when it was the Sahara years ago), but, once it was taken over by a corporation they drove the property into the ground.

If you don't understand how this happens, it's because corporations are profit driven.  Every aspect, department must make a profit --such as: Food & Beverage, the Casino, Housekeeping, even Retail.

And in most cases -- such as Caesars properties -- they reduced spending on certain departments so much that even preventive maintenance issues become overwhelmingly expensive while expecting and even more or better return on their (reduced) investment.

In other words, the properties begin and continue to decay from the lack of refurbishment.

My retired resort casino executive business partner once said he could tell when re-investment was absolutely required in a resort property: it was when he'd walk through a casino property and saw duck tape as a mending attempt to repair a tear in the carpet.
He said, he knew then that the management didn't have the capital to replace the worn carpet.

Thus, the Rio example.  Preventive maintenance issues?

Thus, the SLS (Sahara) example.  The location between nice neighborhood and bad.

OR, with the Lucky Dragon, the bank is pulling the plug before too much 'preventive maintenance' becomes an issue because the property is losing money and thus any future deterioration would reduce the resorts equity value?

So, on the edge of sketchiness.

What do you think it means?


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, January 15, 2018

David, I need you to sell my Rental Houses!

If you have been a long time reader of my blog, you know that I concentrate my efforts on Commercial Real Estate.

Why?

Because, it's less emotional.
(I had grown tired of the wishy-washy buyer who wanted the mansion for $100!

Also, the home buyer who wanted to squeeze 10 pounds into a 5 pound sack.

As much as I tried to guide them, they never qualified for anything -- nor listened to reason.

Anyway, about 10 days ago, a client who owns +/-50 rental properties, emailed me asking for my help.

I once had one of his motels listed for sale, but when a certain Downtown Las Vegas buyer ran out of money, that went bust.  (I lost his listing.)

Well, here it is 4 to 5 years later and he now wants to sell 8 of his properties.

Since I don't do residential property, I had a residential agent run comps for me.
I was going to co-broker them with her, but when I met him to show him the comparable sales, he then just wanted me to find a buyer.

Okay.  (What's the catch?)

Turns out he just needed some cash (hopefully for another purchase) and thought these 8 would generate the most value. (He was right.)

So, I have a Fourplex, a Threeplex, five SFR's and a condo available for +/-$1.5 Million. I think they are a bargain.

The upside is they generate +/-$134,000 annually in Gross Rent.

So, is there someone out there (who's qualified) interested in becoming a landlord?
Anyone desiring of earning a passive income?

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

Friday, January 5, 2018

Las Vegas Resort Casino Hotel For Sale Quietly....

This morning, I finally got a hold of the owner of a small Las Vegas Resort Casino Hotel.

He's interested in selling;

OR,

He's willing to take on a new partner!

So, if you have the stomach for acquiring a Las Vegas Resort property and the necessary $150 Million it will take to buy it, CONTACT ME ASAP!

OR,

If you want to invest in a Las Vegas Resort Property and have a minimal of $20 Million to invest in it, CONTACT ME ASAP!

Either way, you could be on your way to casino ownership!

But, you need to physically...

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!

Thursday, January 4, 2018

Is Trump doing Putin's dirty work? And most of you don't realize it?!

During the election, I was steadily anti-Trump.

Having grown up in the Northeast US, I learned that Donald Trump in his business dealings would (allegedly) short contractors so his costs to re-build buildings would be less.

I remember a story of one of the first buildings he bought from the City of New York, that he (allegedly) paid far less than the actual cost of the building.

So, with these and other stories about Donald Trump circling and his running for president, I knew he wasn't the person I wanted running our country.

And, after he filed BK on several properties, I knew he wasn't capable of even running his companies. (My opinion.)

Now, with the GOP controlling the House and Senate, the only legislation he's passed is a Tax Reform that will (eventually) cause another recession. (My opinion that has been proven in the past.)

Now, there are plenty of articles about "Businessmen Presidents" and just how bad they were at being president.

Trump takes the cake.

With Mueller Investigating the Trump Campaign and their alleged violations of the Logan Act, Mueller is slowly turning over stones and so far finding at least two guilty pleas and several co-operating witnesses. (I believe there are more to come before this is finished.)

Knowing several attorneys as I do, they tell me the guilty pleas were to lessor charges so that the pleaders could become states evidence.

This all makes me take the leap that Trump is (in some way) working with Putin.

I believe Putin is trying to divide the US so we would become a weaker country of nation states.  (Kind of what happened to the USSR after it fall in the late last century.

So with this, I'm taking another leap of faith to say that with AG Sessions' abandoning the Obama let the states decide if marijuana is legal strategy, makes me think that the dividing of the states into nation states is fulfilling one of Putin's goals.

http://www.lasvegasnow.com/news/us-to-end-policy-that-let-legal-pot-flourish/901884492

I am sure you don't know this but the person leading the California succession movement lives in Moscow.  (You can do your own Internet search for that story.)

So, to all of you who think that the Mueller investigation is phony or fake, I will warn you that being a continent of United States is a whole lot better than being a continent of individual nation states eg: Africa, South America and Asia.

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!

Tuesday, January 2, 2018

CRE Firms who refuse to split Commissions are struggling to survive!

This is nothing new.

Over the years, I have tried to contact certain Commercial Real Estates (CRE) Firms about properties they have listed.

Most never, ever return my inquiry.  When I finally do get a hold of them, they usually claim they are busy!
(That's a lie!)
OR, they claim they never got the message.
(Another lie!)

How do I know this?

Since I have been in Real Estate since 1991, I have learned their tricks of the trade.

Having worked on "Teams" I know that the commission splits are minimal 'IF' they have to split a procuring fee to a procuring broker.  (That would be me.)

There are several real estate brokerages here in Las Vegas Nevada that specialize in one siding all their real estate transactions.

Most claim that their Seller won't allow them to split the fee because they "Represent the Seller."

Okay.  But, since that is a legal definition; I usually one up them in that the fee being paid by the Seller isn't a representation!  In fact what the Seller is paying is just a marketing fee. 
And, the listing brokerages are using the legal definition on a marketing fee to consume the entire fee for themselves.

Sad. 

But, since they control the listing, there's not much I can do.

So, I'm left with asking any and all potential buyers that I am helping if they'd be willing to compensate me for helping them buy property.

Most usually will agree -- verbally; but getting it in writing is a little more difficult.

Sadly, these brokerages know this.

And, in the past, I often wondered why they were being so greedy.

But, since I am more than knowledgeable now about these things 26 years into this career, I know that these firms are struggling to survive -- even with double dipping the marketing fee.

(Their overhead is too high!)

Sure, some are large national real estate firms. Some are franchisees and as with all successful businesses, you have to be producing results to maintain their brand.

I, on the other hand, am just a local broker who has worked for a couple of these large franchises and know the score.

Could I be affiliated with a national brand?
Of course!
(I've been asked.)

But, since their shingle wouldn't help me produce a single buyer/closed transaction, I've decided that my own hard work, cold calling, and emailing qualified individual investors and property owners, will eventually lead me to financial success!

Besides, I don't go on listing appointments and lie to sellers about my large team that will be involved in selling their property.

Having worked in the past on such a "large team" at a brand name, I know that it was usually me doing (all of) the marketing, and then being subject to a small, small portion of the marketing fee. 

This is what is currently happening at these firms which refuse to split the marketing fee!

Most of their agents won't earn enough to survive unless they can split a larger fee between them.

Oh, well!

I have my own shingle, and several 'agents' licenses hung under it.  I'll just keep working toward making fair real estate transactions happen and ignore these brands properties.

If you refuse to split a marketing fee with me, I'll move on to properties where the listing brokers will.

By The Way!
I have a Northern Nevada Casino-Motel for sale.  The marketing fee isn't going to make anyone rich, but I will split it with a broker procuring a qualified buyer.

Contact me if a $2.5 Million casino motel is of interest to you.

We'll see what happens.

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, January 1, 2018

Legal Weed - Boom or Bust?

A couple of years ago, I was (trying) helping an international investor who was dead set on acquiring a facility here in Las Vegas where he could grow and sell marijuana. So, he thought.

Since, at the time, I knew very little about the Nevada Laws on this topic, I did research to make myself a little bit knowledgeable.

Anyway, turns out he found out rather quickly that what he wanted to do, he couldn't do because in the federal sense, marijuana -- regardless of it's recreational or medical status -- is still illegal.

Thus, the Nevada Law was at the discretion of the Nevada Gaming Control Board. (Who voted that gaming sites/persons could NOT be involved in that industry.)

So, this investor couldn't open a dispensary inside a resort casino.

This meant he had to abide by their decision to NOT have dispensaries anywhere near their properties.  Oh, well.

Now that California has legalized Marijuana, a fellow Real Estate Broker I've known for years, sold a California Town last year that is near the Nevada - California border to a marijuana company.

He tells me their plan is to make a marijuana resort in the middle of a desert just off I-15 south of Primm, NV.

I thought that, that was great for him and an ideal spot to grow, sell and have marijuana enthusiast come so they could partake in their chosen lifestyle.  With this law now enacted, this should proceed. (We'll see.)

Anyway, after reading this Five Thirty Eight analysis, maybe being in the marijuana industry isn't going to be as financial beneficial as we all thought.

Pot Growers Dilemma

And since the Nevada Law was enacted in 2016, a lot of stores are popping up but will they last.

My wife's company has interior design proposals out to several marijuana businesses, but she is weary. She has been designing commercial sites for years and years and as usual, businesses come and go.

But, is this industry going to last?

Survival of the fittest?

What do I know?  I know that I am just a Commercial Real Estate Broker.  I can help you find a lawful site, but Marijuana is something I smoked as a youth and stay away from now as an older, wiser (I hope) man.

(I refuse to judge anyone.)

BUT -- if you are interested in finding a Nevada Site to open a Marijuana dispensary or grow facility, give me a call.

In the meantime, here is a summary of the Nevada Marijuana law actively in place.

Nevada Pot Law Guide

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, December 24, 2017

Red Sky at Night, Sailor's Delight! Red Sky in the Morning, Sailor's take warning!

Of course, most (maybe all) of you don't know a whole lot about me and my ancestry.

My lineage doesn't include any royalty. (That's OK. I'm still "Bossy" enough.)

But, it does include great-great-grandfathers who were Sea Captains. (That's correct!)
Especially, Captains of Ships that went Whale Hunting. (I can't turn back time...)

Okay, so they were never a John Paul Jones, or a Captain Ahab or anything like that.

But, since there is a lineage from them to me, I take the title to be given to me honestly.

Since we are in tumultuous times with an arrogant multi-millionaire pretending to be a leader, I think the saying applies.

Do I believe there was a political campaign based on deception? Of Course!
Do I think we'll survive? I hope!

But, when there are red skies at night while at sea, that indicates the next days weather (should be) calm and they will be okay far from shore. 

Whereas, if the red sky is in the morning, they know a storm is brewing.  So, the Sailors take heed and prepare for the on coming storm.

My sister, Dr Janet Howes, took this picture this morning while heading toward Gillette Stadium.

With that said, this past Sunday morning's Red Sky should tell us that the day's weather isn't going to be fair and calm.

If the weather does turn stormy, let's hope we can weather the storm!

In the meantime: Go Pats!

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 18, 2017

Well, Caesar's had to have had a way to pay for their Bankruptcy!

When I first heard this, that's what I thought.

Caesar's Entertainment just completed their bankruptcy and since it cost them tens if not hundreds of millions in attorneys fees, I knew that, that cost would be passed on to their visitors somehow.

Well, that's not the official standing, anyway.
The Caesar bosses are proclaiming better WiFi service in the rooms, maintaining passes to their property's fitness center, and a whole lot of other gobble-gook.

But, the fees are here to stay -- and they will charge them for as long as visitors continue to book and stay at their properties and are willing to fork over their hard earned money.

Resort Fees to Increase at Caesars Entertainment Properties

Anyway, the other sad note is that even Free Parking at Resort Properties is a thing of the past, too!
Now, if you are staying at the property there is a discount. But, that varies property to property.

Years ago, when I first moved to Las Vegas, I took a part-time job as a taxi driver -- to get familiar with the city and 'Strip!'  And, once picked up a lady at a casino and drove her to the airport.

Along the way, as we were talking, she said (paraphrasing here) that she remembered when Las Vegas was eloquent.  She said, Las Vegas had turned into a K-Mart.  When she first came to Las Vegas years ago, it was a different time; a time when people dressed up to go down to the casino just to gamble.



I asked: why did she think it changed so much?  What she said next, I will remember this for the rest of my life.

She said, Las Vegas changed when the casinos were bought up by corporations.  She said when the 'mob' ran Vegas, they made sure you got a meal and freebies to remember your visit.  Now, she continued, everything is a profit center.

And she laughed, even housekeeping.

As I sit here today, I ponder her statement. and ask myself, How are they going to make money through housekeeping?

Oh, that's right!  In the future -- near or far -- prepare yourself for a Resort to charge a "Housekeeping Fee."

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

Wednesday, December 7, 2016

Trump Can NOT save 3.5 Million jobs!

I was going to title this blog posting: "Stupid White Americans" -- But, I deemed that as politically incorrect,  So, how about: "Non-College Educated White Americans"  Is that better?  Or, would you rather be called "Deplorable?"

Anyway, Donald Trump ran for president on a platform of: "We're going to bring those jobs back!"

The problem is: most job losses since 1979 were to automation -- NOT a foreign country.  Now, since Hillary didn't combat this during the campaign with knowledge, the Trump hype succeeded in fooling these non-college educated white Americans into voting for him.

And, this reminded me of what Mark Twain once said: 'It's easier to fool someone; then, to unfool them.'

So, congratulations to the "Stupid" white Americans!

Now, listen up, Stupid Americans!  I think the following is important.  I received this today in an email. And, Susan Phillips makes a very good point:

"Worst Job Killer
 Remember Pearl Harbor because the ensuing war taught America the greatest lesson of all, just because you can do something, does not mean you should do something. The world quite successfully halted the proliferation of nuclear warfare. Today President-elect Trump warns companies, who shift jobs overseas, there will be repercussions for these American job killers. But "Fortune" reminds us the real job killer may be technology, "Roughly 3.5 million people are in roles that are at risk of being automated away, compared to the World Trade Organization estimate the US lost 3.2 million jobs to China from 2001 to 2013. "Amazon debuted its new bricks and mortar grocery store, "Go store," with a design which hints at a future of shopping with no human interaction. We don't need the government to stop technology job killers. Tell Uber driverless cars and Amazon Go, "Hell no, we won't Go. "It's how Baby Boomers stopped a war. Uber's original business model employed so many; our wallets can prevent companies from taking a bad turn on the road to success."
 Susan Phillips, CEO - SelectLeaders

So, that widget making job you lost to a machine is NOT coming back.  (The robot does it much, much better, quicker and for so much less per hour than you ever would work for.) 

But, there is something you can do about other company's attempts at automation.  And, try using your brain this time and NOT partake in those industries that are gearing up to take more humans out of other jobs!

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

Saturday, December 3, 2016

Trump definitely needs to Thank the 'Looney Tunes' American Worker!

After visiting my doctor yesterday, she said something that I knew: but I hadn't truly focused on: She said that Trump got elected by telling the non-college educated people what they wanted to hear - not what they needed to hear.

Then, this made me think about a Mark Twain quote: 'It's easier to fool someone than it is to un-fool them."

And, fool them Trump did into voting for him because he made promises logical people know that he won't be able to keep.

Hey, even Sarah Palin is now saying his Carrier deal can't be done to keep every company from moving jobs overseas.

You see, most cities, counties or states can't afford to provide the millions in tax incentives which the state of Indiana agreed to, to keep jobs!

And, what's sad is that those very same non-college educated workers will have to accept tax increases on themselves to pay for those incentives.

Plus, the true way to keep their jobs is to accept the same rate of pay as the foreign country workers are willing to work for.  Do you think that is going to happen?

So, after hearing and thinking about this, this made me think about just how "Looney Tunes" these middle American non college educated workers are.

If you view Trump as Bugs Bunny, then it makes sense. "What's up, Doc?"


Also, the jobs lost to automation are never, ever going to be returned because machines can do a much better job of welding, riveting, assembling, packing, etc. better than any human for much, much less per hour.

Now, are these very same non-college educated workers going to work for what in our society is basically a slave wage?

No, they are not.

So, non college educated working Americans, if you truly want your old job, you can have it back. But you must be willing to work for less then $3 per hour.

Are you ready to get back to work?

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

Tuesday, October 18, 2016

Update! Las Vegas Resorts, Hospitality, Gaming & Restaurant Properties!

Are you interested in owning a Las Vegas Resort, Hospitality, Gaming or Restaurant Property?

If so, I can help!  Since the economic meltdown, the few that remain means they are pretty good investments.

And, if a 'major' Las Vegas Resort is within your acquisition criteria and financial capability, please click on the Las Vegas Casino Information button in the right hand column. There you will find an Agreement.  Please have your company's CEO or Authorized Signature fill this out completely, sign, scan and email back to me for further details on those properties that are available.

For less expensive Hotel-Motel, Gaming, Restaurants and Bars, please email me your contact information and acquisition criteria.  Once I have received this, I will be able to forward those opportunities as they arise.

I would also appreciate being able to add you -- if you qualify, to my investor client list. That way, when a specific property that I know you are interested in comes available, I would like to be able to send it to you quickly so you can better judge the property information and gauge the extent of your interest in acquiring it.  If not interested, just simply delete and wait for the next property to become available.

Lastly, if truly interested in becoming a gaming proprietor, you will need to apply for and be approved by the State of Nevada Gaming Control Board.  I can refer an attorney to you.

Please understand, that this will be required whether you are trying to acquire a resort casino or a small tavern/supper club property.  Being approved prior to making an offer, will speed up the purchase process since most Sellers will NOT have a close of escrow contingent upon you receiving gaming approval.

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.

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

Tuesday, August 9, 2016

Bullies have been and will always be Weak People

We know the cliche.

The high school quarterback picks on the nerdy student because the nerdy student is "weak" according to the High School Quarterback.

Hey, "nerdy student" do my homework or I will beat you up!

So, sad.

And as a society that is trying to re-educate our children that being a bully is wrong, How, why then do we allow a bully to take the political pulpit and decry the American system of government as "Corrupt" or "Rigged" when 'things' don't go the way they want them to go?

Bullies invalidate people for one reason only: They are weak people.

Men who abuse their wives or significant other are weak; Most people who end up in prison are -- for the most part -- weak.

I even find that gang members are weak.  (They think they are strong when in a collective, but they are just a collective of weak minded individuals.)

(Did I hit a raw never, there?)

Anyway, weak people fear-monger; weak people are prejudice; and weak people bully others when they are in the wrong -- know they are wrong -- and they insult and invalidate others when backed into a corner trapped in their small mindedness.

I saw this article today;

http://fivethirtyeight.com/features/the-polls-arent-skewed-trump-really-is-losing-badly/

and, it did for a while give me hope that the one person stopping a foreign buyer client of mine from buying -- and preventing me from making millions -- will (hopefully) lose the general election.

If this one person does win, the US is in for a world of hurt. (My opinion.) 

I have had this discussion with several people who are Trump supporters.  The underlining theme from these people for their support is that Trump will lead us in the right direction. (I know he won't.)

The reason Trump would fail as president is that he still thinks of himself as the high school quarterback who knows how to kick the nerdy kids butt.

What people have forgotten is that the nerdy kid from high school is now, today, the former bullies boss.

And, Trump's problem in this election is....

Oh, wait.  I don't want to say.  It might get back to him.  He would change his course, and win -- which I don't want because it will cost me millions.

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

Friday, April 15, 2016

Looking For a CRE Steal in Las Vegas? What about a Great Deal @ +/-9% Cap!

In the past I have written about Las Vegas CRE Cap Rates.

But, most investors I deal with on a regular basis truly don't understand how Cap Rates work.

Now, I don't mean to insult anyone, but I do need to explain that as long as long term interest rates are set at a number so low, the cause/effect of those low rates will keep CRE selling prices high -- which means low Cap Rates!

You see, if you get a loan at 3 or 4 percent, Cap Rates will remain at 5 to 6 percent.  It's just fundamentals. (Please contact an economist for further explanation.)

Anyway, back to my theme...

A local property owner contacted me last week to ask me if I could help him find a buyer for a property he acquired out of foreclosure a few months ago.  You see, he re-leased the property to the existing tenant on new five year lease; and now wants to sell where he would make a small profit. (I always consider $100,000 a small profit.)

Anyway, I took the property information, sent it out to six or seven experienced property owners I had grown to know through the years and waited for their response.

One, called me right away and said: "That property is Crap! Find me a Good Deal!"

Not insulted, because I do understand this investor's thinking.  He was actually the one who wanted me to find him a Walgreen's at an 8% Cap Rate. (They currently don't exist anywhere in the US.)

Anyway, I had to explain to him that the tenant's lease was a new ink not dried five year lease, with a five year option.  I told him he would actually be buying this property at a 9.5+/-% Cap Rate.  In essence, this is a steal!

So, the tenant isn't a national credit corporation; the tenant only has this single location; and he had been very, very busy operating his auto repair/tire business here for many, many years.

Is the property old?  Of course.  The building was built in 1970.
Was the lot large enough for his use? Yes, it is!  It is on a .51 acre parcel right on a corner. (And, it is fenced!)
Is the street traffic busy enough? Yes!  It is addressed on a heavily traffic street that runs east west across the Las Vegas Valley.
Plus, there is a Lowe's and a Walgreen's in what I term: "Within Throwing Distance." (Now, I know for a fact that I can't throw that far, but you get the idea.)

Still, the price, the newness of the lease, the fact that the tenant had been there for a long, long time and is paying a good monthly rent of $5,200 NNN per month, you would think that this might be flip-able in the near future(?).

Well, if you buy at a 9.5% Cap Rate -- when long term interest rates are at 3-4%, all of you should be picking up your cellular phones and calling me ASAP!

Asking price? $750,000!  Selling price? $650,000.

What are you waiting for? Call me!

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

Monday, March 7, 2016

UPDATE! -- TWO LAS VEGAS RESORT CASINOS ARE AVAILABLE - UPDATE!

First of all, if you are an experienced hotelier, you need to download, fill out, scan, and email back to me the form under the Las Vegas Casino Information button in the right hand column.

Once I have that filled out formed -- and signed by your company signatory -- I will forward the appropriate property detail for your review.

But, to wet your appetite, there are two up and running resort properties that could be acquired.

The First is a large Las Vegas Resort Casino Property.  Then, again, the Non Circumvent and Commission Agreement is required in order to receive any details on either property.

The Second is a smaller property and costs... Then, again, the form...

But, I will disclose that these will cost you in the hundreds of millions -- each.

If interested (and you are qualified to apply and receive a Nevada Unrestricted gaming license, you must provide the Seller with your financial capability and Proof of Funds to close!

And, this is needed prior to the release of any property information.

The Sellers are looking for people/companies that are either licensed already - or are people/companies that have the capability of being licensed with the Nevada Gaming Control Unrestricted Nevada Gaming License.

NOW, lastly, there is still property that is "develop-able." But, please still adhere to my Las Vegas Casino Information button to receive that property information as well.

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