ICYMI: Kickbacks are Illegal in Real Estate!

Now, I know this happens.  However, since I don't pay kickbacks, I don't know how agents get away with it; OR, why an agent would even do this in the first place!

But, in the past, I have worked at companies where (a few) agents, for whatever stupid reason, would agreed to pay a Buyer or Seller a kickback for using that agent to sell or acquire a property.

It is stupid.  It is unnecessary.  And, it is only because of the client's greed that they would do this.

In real estate, you are usually splitting the commission with the broker, and sometimes with a partner. So, why would you give any amount of money to either client whether they are the Buyer or Seller?

The Buyer, usually, is getting the benefit of acquiring the property -- in monthly rents.  So, they are making money anyway.
The Seller, usually, is getting the profit for owning the property.  So, they are making money anyway, too!

I just don't understand it.

I work hard for my commission fee.  I deserve to keep as much of it as possible.
And if a Buyer agrees or a Seller agrees to compensate me for helping them navigate a commercial real estate transaction, then I have earned that fee upon the close of escrow or the close of the sale.

And, I will not be held accountable for an action a few deem appropriate when in truth, it is inappropriate and most importantly, illegal!

Just my two cents!


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

Wrote another Purchase Offer for a Las Vegas Resort Casino!

For those who are interested and qualified, I wrote another offer for another Las Vegas Resort Casino Property last week.

Now, I do know that several others will be coming online in the next week to a month or so.  And, in order to receive any information about these properties, your company signatory (CEO or better) must fill out and sign the Non Circumvent, Confidentiality and Commission Agreement (you can find this located in the right column below this post) and email it back to me in order to receive any details on any property.

Also, since the current owner of these resort casinos will be requiring Proof of Funds, you might as well send that to me, too.

The owners have told me, that any offer to purchase MUST include that you as the Buyer must have the financial capability and provide Proof of Funds to close an escrow/sale of the property.

And, the offers must be from people/companies that are either currently licensed - or who are capable of being licensed by the Nevada Gaming Control Board. And, this is ALL prior to release of any property information.

The First is a larger property and it will run you +/-$1.5 Billion.  (That's all I am going to say about this property at this time.)

The Second is another large Resort gaming property that will run you around +/-$500 Million.

The Third is a smaller property that will run you around $110 Million.

AGAIN, if you want any information on any Las Vegas Resort property, click on the Las Vegas Casino Information button just below to the right, print the form, fill it out, have your company signatory sign it, and email it back to me.  Once received, I will provide you with the property details that fit your qualifying capacity.

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

Las Vegas Resort Buyers! Beware of the International Casino Brokers!

A client who is trying to finance a hotel purchase here in Las Vegas, called me yesterday to say that he found several resort casino properties available for sale that I had not told him about.

Confused, since I am more than willing to disclose everything I know about a resort casino that is for sale, I asked, "What properties did you find out about that are "For Sale" properties?"

He told me about a web site -- which is based over seas -- that has what I consider "a hidden agenda" about trying to make money off of suckers interested in acquiring a Las Vegas NV Resort Casino Property.  I know and believe this web site is misleading potential buyers.

The site states that they "just listed" several properties and gives an estimated EBITDA that to me "looks" fake.

Now, according to the web site, in order to get these numbers, you must sign a Non Circumvent and Commission Agreement -- which is normal; EXCEPT that the following circumstances apply.

1.) Resort Property owners -- especially those in Las Vegas -- don't list properties with overseas brokers.  Not ever, never.  Local Brokers even have a hard time getting these properties exclusively listed to sell.

2.) They definitely never, ever reveal any financial information to anyone!  So, having an EBITDA to disclose tells me this is extremely false.  And an estimate EBITDA with numbers that are laughable, is funny in itself.

3.) I live and work in Las Vegas.  Most of what he claims that he has listed is honest and truly NOT FOR SALE!  Now, in the years I have lived and worked in Las Vegas, I developed direct access to the owners' decision makers.  And, none of these people will ever, ever say their property is for sale; and absolutely none will ever give me access to their financial information.  It's NOT going to happen!

Besides, some of the Land that this overseas broker claims to have listed is actually NOT LISTED. And, by the description, I know which property these are because, like I said above, I live and work in Las Vegas, NV.  (By the way, the land he claims to have listed, he claims to have approved high rise plans.  The problem with the land's location is: a high rise building can NOT go there. You will have to contact me as to why.)

So, IF you happen to find this ridiculous web site and see a Las Vegas property that interests you "listed" for sale, please give me a call.

I guarantee, I will tell you the truth because I do NOT make any money by lying to potential clients.

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