Earlier today, I was perusing a Gossip Web Site when I came across an item about a Hollywood Starlet who is (rumored) to be on the verge of having no money left because of bad investments and financial advice. Apparently, she and her husband were more anxious about get rich quick schemes than long term income investment property.
Here is the quote that made me think: "I should Blog this item:"
"But let's be honest here - sometimes the true winners are those who get OUT of Hollywood and earn their livings in other ways. One of the worst investments that athletes and stars fall for are restaurants and clubs. The money sharks run through your credit line with fake purchases for the business, then the restaurant closes, they have the celebrity's money and the celebrity has nothing to show for it."
Okay. I live and work in Las Vegas. Many, many Athletes and Stars over the years have put money into these clubs and restaurants and they have been like a "flash in the pan." They lost it all.
And, the one common denominator is WHERE these clubs and restaurants WERE to be located: On the "Strip!" And, what type of properties are located on this stretch of roadway: HIGH DOLLAR RENT Resort Casinos! Even us common people know that the "Strip" is packed with over priced properties when it comes to leasing.
Now, even though they think the club or restaurant business sounds like a well organized business plan, IF your monthly rent is too high, and the club and restaurant income is too low, you will lose everything in the process. And, you will realize that: Too Late!
For years -- it seems like -- I have been marketing to Athletes and Stars that a National Credit Drug Store, or a National Credit Fast Food Restaurant, or even a smaller well located office or retail center in a well located commercial real estate corridor, are much better investments than the clubs or restaurants! Sure they are more conservative; and, they do NOT carry that initial flash that a Resort Casino would attract when announcing the Grand Opening!
But, IF the Athlete or Star had called me during their review process of that business plan; and they were to compare products and their history on whether or NOT to invest in a leasehold business at a High Dollar property; or a long term CRE investment where a National Credit Tenant pays YOU a monthly rent for ten to twenty years, it would have been obvious to them, that my advise would have made them money. In those club and restaurant schemes, only one person makes money: The Landlord!
So why be a Tenant? When you can be the Landlord.
However, since Athletes and Celebrities do not have $500 Million plus, acquiring a Resort Casino to become that club or restaurant Landlord is out of their reach.
So, IF you Athletes and Celebrities really and truly want to earn long term income. AND, you understand that making money is a long term investment and NOT a flashy scheme, you need to acquire a CRE property that has a high income potential! And to start in that direction, all you have to do is: CALL ME!
There are several well placed CRE Properties in and around Las Vegas (some will require some property management) but if bought correctly, you will earn a respectable income. Unfortunately, acquiring these will NOT have the splash that accommodates most celebrity endorsed investments at Resorts.
Lastly, I seem to have grown to recognize just about when an Athlete or Celebrity is about to lose their hard earned money investing in Las Vegas!
It's when I see them on the red carpet getting their picture taken for an event at a Resort that they have invested in! (sic)
For more Information about any Las Vegas Commercial Investment Real Estate Property, contact David Howes at: davidATdavidhowesDOTnet OR 70 25 01 93 88!
