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

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

'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