Monday, October 2, 2017

Sad day when fun and relaxation turns into a living horror!

Soft Target is what it's called.

That's when an individual takes advantage of a large peaceful crowd of people minding their own business and enjoying the evening entertainment when the despicable happens.

A massacre of unbelievable portions disrupts the peace and tranquility and the massacre leaves 58 people dead and 515 people wounded. (As of my posting this blob.)

And, the coward 'terrorist' (let's be honest, that's what he is) then kills himself as the police are about to move in.

I always ask afterward: if this person is truly set on committing suicide, then why kill others before killing yourself?  As a lay person, that doesn't make sense to me.

But, as the 'news' comes forth as the police investigate, it becomes apparent that this Stephen Paddock had planned this out thoroughly.

He had a 32nd floor suite that almost overlooked the event grounds on the east side of Las Vegas Blvd.  He had at least ten weapons n the suite.


And whether or not a few or many were slaughtered, he didn't care.

I hope he has an endless afterlife in hell.  If he thought his actual living life as bad, I hope Lucifer makes his afterlife even more painful.

http://www.msn.com/en-us/news/breakingnews/who-is-stephen-paddock-las-vegas-shooter/ar-AAsMY12?OCID=ansmsnnews11

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, September 25, 2017

Immigration, Tax Reform and Healthcare help the US Economy

Last week, I was invited by Bank of Nevada to attend an economic presentation they held at the new Las Vegas Golden Knights practice arena.

There Beacon Economics, LLC made a presentation about the Las Vegas economic future.
(It looks very bright!)

There were three things mentioned during this presentation that made me go, "Hmm!"

One was Immigration.  He presented information that when the US has more of an open immigration policy, the economy expands.  Since 1924 when the KKK had Congress pass the Immigration Act of 1924, this place a restriction on "Who" was more invited into the US than others.  Since that time, we have seen several economic cycles come and go. (Due to immigration restrictions? Probably not.)

But, one of the main problems today is that there is a shortage of unskilled workers for the number of unfulfilled unskilled labor jobs.  Yet, the current administration wants to restrict immigrants who through US history, have been the ones to fill those jobs.

Second was a discussion about Tax Cuts.  Us US Citizens have a history of NOT wanting to pay any taxes.  Nobody likes to pay taxes.  But, the information presented showed that giving high income people a tax cut, you actually gut the funding for a lot of necessary government programs.  Thus, you hurt the economy.

Road infrastructure and other assorted government provided services usually end up gutted when there is little to no money coming into the government.

Last was health care.  They touched on the fact that if American families are saddled with high health bills, they have little to no extra spending money and still very little for other than basic necessities such as food, shelter, etc.

By eliminating any extra income the family might have, it prevents them from participating in the overall economy in general.  Thus, when their backs are against the wall, and little income to live on, they eventually file Bankruptcy -- which hurts the overall US economy.

So, as we march forward with an administration fully geared up to run immigrants out of the US; give massive tax cuts to the higher income people; and gut a health care system to appease a few campaign donors, we are actually lining our sights on a turbulent financial future rather than a profitable one.

For more information on this topic: www.BeaconEcon.com

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, September 12, 2017

Small Resort Casino For Sale in Las Vegas!

Recently, my Inbox has received inquiries about Las Vegas Resorts For Sale.

There are some -- not many -- that could be acquired.

The problem is -- and will always be -- that potential Buyers want to acquire Resort properties in the same manner as if they are acquiring a Net Leased Property in their own back yard.


Or, they think that because they are who they think they are, the Seller should (overtly) respect them fully and sell at the Buyer's suggested low-ball price.

Unfortunately -- and this goes for all would be buyers -- it doesn't work that way when it comes to Las Vegas Resort Properties.

I can't explain it any more simplistically than if a property is being marketed at $6 Million an acre.  And, surrounding comparable sales indicate $7 Million an acre, why are Buyers pushing for a sale at $3 Million an acre?

For Example: a small extended stay resort motel property with a small casino (8 slots only) though this property is zoned for an Unlimited Gaming Casino (Full slots, table games, etc.) that sits right smack inside the Clark County Gaming Overlay (which means there are no restriction to developing an unlimited gaming casino) isn't going to be sold cheaply.

And Buyers arguing with me that the Net Income from the property means the value is less than the  asking, baffles me.

The Net Income of the property may be a contributing value, but when it comes to land value being more valuable than the business being run at the location, trying to acquire this based on the Net Income isn't going to cut it.

Many, many times, I've had brokers outside of Las Vegas tell me that the value of a resort property is solely based on it's Net Operating Income.

I have to over explain to them that if the land is worth much, much more than the business net income, that's the sales price.

(This scenario is never, ever going to change.)

To which I always respond, "that may work in your neck of the woods.  But, it doesn't work here."

I've had offers on listings that were for a fraction of what the properties eventually sold for.

I realize that Buyers are trying to get the most equity they can at the time of purchase; I also understand that the Sellers are trying to get the most bang for their buck for the equity value.

So, if you think a 200 room resort with a small casino, Full Alcohol and located within the Clark Gaming Overlay is worth $20 Million when comparable sales say it's worth $21 Million, send me an email.

(Psst! The abandoned and unfinished Fontainebleau just sold for $25 Million an acre. Don't tell anyone!)

After executing the appropriate paperwork, I'll send you the property details.

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!