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

Monday, October 1, 2018

LAND! HO!

Since I live and work in the Southern Nevada Desert, this doesn't make much sense.

But, my ancestral line runs smack through east coast whalers who captained the ships on those long ago whale hunts.

But, as I live and breath dusty desert air, I do find myself helping land owners to sell their land.


This one particular parcel is actually two parcels that are very close to each other.

A 7.89 Acre parcel and a 5 Gross Acre parcel.  Each has water, power and telephone service to their sites.  Each is on Septic Tanks.

Anyway, the Seller's asking price was $12.18 PSF.  We immediately received an offer at $13 PSF.
I strongly suggested to the Seller "Take It!"

He did.

The property details are it is M-1 Land with outside storage.  Most of the land in this area is ground leased to contractors.  These particular parcels generate more than $10,000 per month in gross rent.

The Owner is a local business man who owns a large local trucking company.

I think he's done well for himself through the years.

Still, you blog readers can do the same if you give yourself time and effort.

You just need to begin.

And, you begin by contacting me to see where your starting point is.

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 13, 2018

"We need your expertise!"

Late last week, I received a call from an "Investor" who called me because he was waiting for a resort property to recommend an agent to him that could help him buy their resort property.  Since he was impatient, he found me and gave me a call.

OK, not a bad situation on the outside looking in.

Yet, he admitted that he had already made an offer for a 'Strip' resort property and wanted my expertise to tell him whether or not the price the resort wanted to sell was too much.

He felt it was way too high.

Now, in the past I've received calls like this and they all turned out to be fake buyers.

But, this Investor claimed he had already contacted the resort directly, then called me to get advice on whether the resort was asking too much?  I sensed I was talking to a rookie.

Anyway, he wanted to meet today in Las Vegas to discuss his situation.

Since he already contacted the resort directly, I said, OK, but I want 1% paid by you the Buyer to help you!

He asked if I would just accept an hourly fee for giving him an opinion.

I said, 'No!'  I retorted , 'If you want my help, you pay me a commission!'

That was the deal killer for him.

Over the weekend, while out to dinner with my wife and family, I mentioned this scenario.  My wife agreed with me.  If you are an Investor/Buyer, and you want my help acquiring a Las Vegas Resort Property, you call me first!

You then, sign an agreement that if you are successful in buying a resort property, you compensate me for my time and effort.

I did ask which resort he made the offer to? He replied with something about a confidentiality agreement and couldn't disclose it.

I know this is BS!

Most resorts will NOT even accept an offer unless it is at their price and they have fully vetted you.

This Investor, after researching him via Google and another web site I've come to rely on to verify client statements, doesn't appear to be able to complete a multi-million dollar sale.
(I could be wrong, but since I've been down this path before, I'll take my chances.)

My thought first thing this morning is, 'OK, I did kick him to the curb.'

In my time here as a Real Estate Broker in Nevada, I've run into too many want-to-be casino owners barking up the wrong tree who usually end up NOT ever closing any deals at all.

I wish the Investor all the best.

Interested in a Las Vegas CRE property?

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, July 19, 2018

Proof Of Funds! Or, Proof Property is For Sale!

The past few weeks to more than a month have been a very stressful time.

I've know about a property that is "Off Market," yet "For Sale" according to the Owner.

BUT, when I approach the Owner about selling, he continually reminds me that he needs "Proof of Funds" (POF) so he knows whether or not the Buyer is capable of closing on the purchase of his property.

Now, this isn't just an everyday house sale.  This isn't an everyday commercial building, or apartment property in the several hundreds of thousand dollar sale.
This is a property worth +/-$25 Million.

A couple of weeks ago, I present the property to a national credit buyer and they said they'd get back to me.

OK, they need time to mull it over.  I get it.

I gave the usual spiel, blah, blah blah, Proof of Funds, etc.


Well, I just fond out that this one particular buyer has decided to pass on the property.
Everything about it fit the Buyers Acquisition Criteria -- except the Proof of Funds!

Now, this company owns about 100 properties nationwide.
They buy, develop and hold long term all of their acquisitions.  No flipping for them.

Well, I just had to know the real reason why they decided to pass.  So, I gave my contact a call.

Boy, did I get an ear full.

Apparently, the experienced buyer for this company has heard this phrase: Proof of Funds more than he wants to count.

He has come to learn that when he hears this phrase, the owner truly doesn't want to sell.

In his 30 years as a Property Buyer for this and other National Multi-Family Companies, when he is told to provide Proof of Funds, it tells him one of two things:
1.) The Seller is inexperienced
2.) The Seller doesn't truly want to sell

When I spoke to the Buyer today, he was leaning more to number 2 on this property.

In his experience, once that phrase is uttered, he turns his focus on other potential acquisitions.

I don't blame him.

If an owner is being so tight about POF, the Buyer knows it will be extremely difficult to get a property into escrow; and even more difficult to close escrow.

So, I learned something new today.  I never knew that, that phrase was the Seller's way of stating, "I don't want to sell!"  Why don't Sellers just say, I'm NOT selling?

All I can say is: "Lesson learned."

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, July 11, 2018

To Opendoor or NOT to Opendoor?

First of all, I love easy real estate transactions.  They run smoothly and there are no hassles from the details.

Second, I absolutely don't trust easy real estate transactions at all.  Having worked as a Real Estate broker for 27 years, I've learned that the easy transactions usually turn into the hardest to close in a split second.

Now, yesterday, I received a solicitation from Opendoor to have them assess my home for free to see if I'd like to sell.


Inside was this nifty letter stating that I deserved a hassle free sale on my home.

(Now, I am NOT going to investigate this any further.  I want to be fully upfront about this.  But, I am going to analyze this without investigating this.)

The reason is, I think (I could be wrong.) that I know how this works. I think this is kind of like trading a car in to a dealership that is offering to "purchase" your old car in exchange for a new one.

You see, (most) car dealerships will make an initial offer that is very, very low. (65% of Low Blue Book Value.)

And, whatever is owed (if above that value) is added on to your next vehicle's purchase loan or lease.

House Flippers -- if you have watch enough Home Improvement TV -- demonstrates how Flipper's buy low and sell high.

I think this is what is happening here.

I don't have any proof of this.  And, I'm not saying it's bad.

It's something, as a Real Estate Broker for 27 years, that I will not get involved in.

Flippers are always looking to steal a property; then, flip the property (usually after just painting and carpeting the house) for as much as a sucker (I mean, Buyer) is willing to pay.

Years ago, the first Real Estate Broker I ever worked for said: "Never buy a house that's being flipped." 
At the time, I was a novice in real estate, so I didn't understand. Many, years later, his words of wisdom still ring true.

Since I don't work in the residential real estate arena, I wish Opendoor lots of luck.

Hopefully, this isn't a means to eliminate real estate brokers completely -- which I am seeing from other real estate web sites!

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 19, 2018

Commercial Real Estate 101

Recently, I realized that when it comes to real estate terminology, when someone like me comes along and I start to refer to Real Estate investing in terms such as: "Passive" or "NNN" or "Net Leased Property," the person I am speaking with usually will give me that "Look."

You know the one I'm talking about.  That, 'Ah-Huh!' "Look" that signals they are trying to convey to me they completely understand what I am saying! (They usually don't.)

No?

Okay, Let's try this.

"Triple Net!"

No? Don't know what that means?

Las Vegas Sign at Dusk!
How about:

"NNN?"

Still, No?

How about me saying: These types of real estate investments are the most popular type of real estate ownership for investors.

You want to say, 'That's nice!' Right?

Well, just let me state that:

Even experienced real estate investors looking for a better than average Wall Street type of investment product, will acquire these types of properties simply because of their better than normal Return On Investment (ROI).  Unfortunately, most normal people do NOT understand this because these properties are the last thing you would think about when you think about real estate.

Still lost?

Well, let me explain -- No, why don't I summarize. (If you still have questions, you can contact me directly.)

Anyway, when you are an owner of a "Net Leased Property" that (usually) has a National Credit Tenant under a "Triple Net Lease," you simple collect rent.  Your monthly or quarterly responsibility is solely restricted to depositing the Tenant's rent check.   (Well, with direct deposit, it is checking to see if it the rent was deposited.)

Another advantage is that even without a mortgage loan secured by a Note and Trust Deed, you still gain the equity of the property for the time you own the property.  And, the Tenant in a "Net Leased" Property is (usually) responsible to pay ALL of the expenses associated with the property. That means, your property's Real Estate Taxes, Insurance and Common Area Maintenance (CAM) are paid by the Tenant.  AND, you will receive (in most NNN Leases) an annual increase in the Tenant's Monthly Rent.  So, as you can see, the longer the tenant stays either through their initial lease or through their options or extensions, their annual rent usually goes up and they will cover your property ownership cost as well.

Too much information?

I tell you what, if interested in learning this, give me a call.  We can discuss this further.

I know that once you have seen the benefit of a regular Triple Net Investment's monthly income, you will NOT want to go back to real estate business as usual.

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

Monday, March 12, 2018

I heard it through the grapevine....

When it comes to real estate, it seems to be getting worse for us Commercial Real Estate Brokers.

Even Residential agents have to deal with buyer/seller clients who try to impress you with their vast knowledge of Real Estate.

The truth is, web sites are making the broker/agent's job that much harder.

When Realtor.com advertises on TV that if you searched for your house on their web site, you won't become a "Not Me!"  That sends an definite signal, that a broker/agent is no longer necessary or needed.

The striking thing is: Realtors are supposed to be the reliable expert!  And, if you are working with a Realtor, you are supposed to be getting excellent service.

Now, I'm NOT a Realtor.  I choose NOT to be because of the monthly and yearly expense that I can't afford and/or don't need.  But, it doesn't mean I am NOT capable.

Anyway, recently, I heard from a land owner (who is also a real estate agent), that another real estate agent from another real estate company had approached her about a larger than normal parcel of land she owns.  After talking to this other 'agent,' the owner/agent knew that this agent was working with the same client I had approached her about to acquire her land.

Being the upright agent she is, she called me to inform me about the inquiry right away!

Okay. Buyers will sometimes engage other agents to try to get the best deal. It happens.

Not wanting to be confrontational with the client, I had had just about enough of the client's I'm  smarter than you attitude.  You see, he wanted a property at a prime location that he could buy cheaply.  After dealing with this buyer for several months, I thought about my time he wasted with this effortless pursuit.
So, I thought he needed some pay back for running me ragged searching for land that he was never, ever going to buy.

Anyway, I suggested to this client another parcel (which was an airport owned parcel) and pretended I didn't know who/what had the land lease on the parcel.  (It's a local developer -- But, I didn't want to tell him that.)

Anyway, since he wanted to buy at a rock bottom-feeder price, I knew the airport was never going to sell this parcel. (The developer has a 99 year lease.)
But, I suggested it to him anyway.

(Side note to non-Las Vegas resident: In 1998, via an act of Congress, McCarran International Airport (Clark County owned) was able to acquire 5,500 acres of BLM land and have full control over the future development of said acres. Thus the creation of the Cooperative Management Agreement (CMA)).

Now, this CMA grants McCarran a deed restriction over certain parcels within a certain area.  If you are inside of this CMA Area, McCarran can say whether or not you can/can't develop certain properties, whether they own the land or not.)

Well, the client got mad when I (finally) admitted that the airport owned the parcel and we should find something else.

I understand his anger.  But, I had found him two perfectly good parcels outside the CMA that he rejected:
Parcel One was adjacent to a Wal-Mart.  He didn't want to be near any Wal-mart at all (I don't understand it either);
Parcel Two was the owner/agent's parcel who called me.  It had everything the client wanted/needed  but it also came with (former) NV Energy Power Poles that were no longer being used.
(NV Energy would take the poles down with a future development, but NV Energy wants the land owner to pay for the pole removal. (I know, Huh?!))

Well, I can only imagine the poles costing +/-$10,000 to $12,000 to remove.  But, still, he didn't want to pay; neither does the current land owner.

Now, I know it was mean of me to get the Client excited about a parcel he could never develop his concept on, but when I learned the Client was willing to go around me and directly to another agent/developer, I wanted to waste some of his time.

Besides, the Client wouldn't accept the truth no matter how it was presented.
He wanted what he wanted and any advice I gave him was countered by his ambition to screw a land owner over out of the equity in the property.

I came to the conclusion, right or wrong, that working with this Client was a waste of time.
It happens:

So, long story short (Too late?): Since he was working with another agent all the while he was working with me, I decided to cut my losses. In poker terms, I folded.

Now, I understand the logic behind clients doing this;  But, I don't understand the reason why.
If you are working with two brokers/agents at the same time, both are NOT going to purposely hide any available properties from you -- especially if the client qualifies to make a purchase.

And, since he was perusing the listing sites directly, this made my job extra hard.  He was making me jump through hoops that weren't necessary.

Who's to blame for this scenario?

First: I will blame the real estate web sites who make it easy for just anyone to search for properties without an agent.
Second: I will blame myself.  It is my fault the client is angry with me.
(It's never the clients fault even if they purposely waste your time.)

So, I accept that the Client is angry with me; the agent who referred the client to me is angry with me; and I am angry with myself for NOT being a better student of buyer/client behavior.

But, I have my sanity and I'm staying honest regardless of any dirty tricks Clients pull.

The moral of the story is: There is no reason to lie when it comes to real estate.  I truly don't understand why client/agents would.

Much appreciation to the loyal brokers/agents who Rat on lying, deceitful 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!

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