Is the Las Vegas CRE Market Going South?!

Had lunch with the retired gaming executive that I have come to know by living and working here in Las Vegas, NV.

At lunch, he said that he had heard that one of the national real estate firms located in Las Vegas, NV could be closing it's doors before the end of the year.

Now, he did say which one; but, for the sake of NOT spreading rumors -- at least until I can verify this information -- I will just let that simmer.

This information was told to him by an agent he knows that works at that very office.  And, she also said that they have only closed three sales or escrows this year since January, 2016.

And, because they are in the prestigious high end office with their monthly rent so high, the agent told him that she was leaving and was going to get out of the real estate business altogether.

Now, a day later, I attended a mixer that a major national bank held.  When I arrived -- fashionably late -- I saw that there were only maybe three or four CRE agents attending.  The rest were all bank employees from various divisions of the sponsoring bank.

As I was greeted by a bank employee I know, I asked her why the CRE agent/broker attendance was so poor?  She embarrassingly said something to the effect that most of the invitees (real estate agents/brokers) were to busy and didn't RSVP.

Oh, really, was my reply.

I then told her about the major CRE company that I had heard only closed three sales this year.  She replied, that she had heard that, too!

So, I wonder.  If a national real estate company -- given that it is a franchise -- can't close sales and maintain their office; I feel so lucky that I have been able to, that I should travel to Prim and stand in 110 degree heat to buy a lottery ticket.

Then, again, I would probably get mauled by a Polar Bear before acquiring the winning ticket. (That seems to be my luck.)

Anyway, I think I will stick to doing what I am doing, because what I do seems to still be able to put sales deals together and close escrows when needed.

And, if it is true that Las Vegas CRE is about to go south -- again -- then, you need to contact me now, so we can put together a game plan for moving forward once this 'new' recession hits us.

I am ready when you are...

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

Athletes bilked out of Millions!

My first question is: How does this happen?
My second question is: How do I convince these very same athletes that placing so much of their money with a money manager is NOT a good thing to do!

http://www.latimes.com/business/la-fi-rgt-fraud-20160621-snap-story.html

I know, I know, I am talking to the wall.

The few celebrity athletes that I know, do know other athletes; and they have a frat type aura that they help and/or recommend these supposed ethical money managers to each other.

Unfortunately, they should be more like the Jamal Mashburn type of athlete.  He took charge of his money; he invested in long term CRE properties; and he is one of the "former" athletes that is truly a success story.  And, Keyshawn Johnson is another.

What did Jamal do?  Well, he went out and through his retirement years bought something like 80 NNN properties with national credit tenants paying him a nice monthly income.  And, his property expenses are paid by the tenant.

Excellent Job, Jamal!  Hope you see this and contact me about Nevada NNN Properties!

What, don't believe me when I say Jamal has built a wealth worthy of everyone's envy?  Why don't you take a look for yourself, then?!

http://hiphopwired.com/2015/09/30/jamal-mashburn-owns-more-than-80-franchises/

Now, if only these "bilked" athletes had been interested in Net Investment property just like Jamal rather than playing like they were wealthy.  Instead of depending solely on a "recommended" money manager, they could have contacted me and I would have (possibly) diverted such potential loss into long term financial gain.  And, it might have looked something like Jamal had done years earlier.

Then, again, I might as well hit my head against the wall.
For one: I would have saved my breath; and two: I'd have done less talking...

More importantly, it might draw more attention to me and a very important post career message.

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: Profitable Nevada Ski Resort For Sale!

Within the past month, I have mentioned that I was trying to list a Nevada Ski Resort.
Well, the attorney for the owner wants to handle the sale, so I will let him.

This Ski Resort is NOT in the Las Vegas area!  However, it is within the state boundaries of Nevada and is one of the state's oldest and well run Ski Resorts!

I won't tell you much about it here but if you are interested and qualified, send me an email and I will reply with an Non Disclosure Agreement (NDA) -- so that no one will go around me on this.

The attorney handling this has set up a Data Room where all the property details are located.  To access the Data Room, you need to email the signed NDA back to me.

If you want to see the Ski Resorts' financials, you will have to prove to me and the attorney you are capable of closing a sale in the $65 Million range.  So, please include your financial capacity with your company signatory signed NDA to proceed.

Want further information?  That will take you sending me an email.

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