Last night, I was invited to participate in a panel discussion held at the Desert Passage in the Aladdin regarding downtown Las Vegas high rise condo developments and how the market is progressing in general.
Many interesting ideas and suggestions where presented by the 15 or so participants including ways high rise developers can better interact with real estate agents, what needs to be done to market downtown Las Vegas better, and what are buyer's pre-conceptions of the Las Vegas market. Some excellent points were made and my overall conclusion is that downtown Las Vegas offers investors and owner-occupants tremendous opportunity in the future. As the urbanization of downtown continues and it gradually gets cleaned up and revitalized, those purchasing quality properties should be rewarded in the upcoming years.
The World Market Center already has been a tremendous success and has given a great boost to the downtown projects. Soho Lofts has started move-ins and construction on their sister property - Newport Lofts - is moving forward without a hitch. Juhl has broken ground and the construction you see at the Streamline Tower is extremely promising.
The fact that a downtown project would take the time and financial outlay to commission a panel discussion of this sort tells you that successful developers care about the input of the real estate community and its buyers.
As mentioned in an article in the New York Times, downtown Las Vegas is stepping up to the table. For the everyday, small investor, downtown Las Vegas may be the place to be. I would suggest very strongly looking into the Streamline Las Vegas condo project.
Friday, September 29, 2006
Thursday, September 28, 2006
Instant Equity - 1 Day Left
A number of you have already contacted me regarding my previous post of instant equity in a major Las Vegas high rise condo project. Here's a quick reminder that if you haven't contacted me, you only have 1 day left to take advantage of this offer - and this offer really will expire on Friday. It's not like the offers you see all the time that always seem to be available (you know what I mean).
The clock's ticking. At the close of business Friday, 9/28/06, this deal will be GONE, so I urge you email me with your phone number quickly if you're in the market for a Las Vegas high rise condo.
The clock's ticking. At the close of business Friday, 9/28/06, this deal will be GONE, so I urge you email me with your phone number quickly if you're in the market for a Las Vegas high rise condo.
Wednesday, September 27, 2006
Manhattan Las Vegas Condos Announces Open House Celebration
You have to hand it to the people over at the Manhattan Condo project. They promised a concept three years ago and delivered, and as such, are holding an open house celebration this Saturday, September 30th from 3-7:00pm at their South Las Vegas Boulevard and Serene location.
Live music, food, and drinks are all on the agenda, including tours of condo units that you can move into right now. Buying high rise condos in Las Vegas is a catch-22 - it's hard to buy something you can't see (preconstruction), but when you see it (and it's ready for move-ins), you usually wish you had bought in on a beginning phase.
While Manhattan Las Vegas isn't really a high rise project, they are now advertising prices starting in the low $300,000s, which if my memory serves me, isn't that much more than what they originally sold for in the first place... which is good news for you if you attend their open house and like what you see. I'm going - let me know if you'd like me to put you on the guest list.
Live music, food, and drinks are all on the agenda, including tours of condo units that you can move into right now. Buying high rise condos in Las Vegas is a catch-22 - it's hard to buy something you can't see (preconstruction), but when you see it (and it's ready for move-ins), you usually wish you had bought in on a beginning phase.
While Manhattan Las Vegas isn't really a high rise project, they are now advertising prices starting in the low $300,000s, which if my memory serves me, isn't that much more than what they originally sold for in the first place... which is good news for you if you attend their open house and like what you see. I'm going - let me know if you'd like me to put you on the guest list.
Monday, September 25, 2006
Instant Equity in a Las Vegas High Rise Condo
Folks, I just got a heads up on just a handful of condo availabilities that will provide the buyer with substantial "instant equity" at the prices that they are being offered at. I'm not at liberty to disclose which project, but I will tell you it's a solid one - and the offer will expire THIS Friday, September 29th.
Sometimes, it actually pays to wait. So if you've sat on the sidelines until now, NOW'S the time to act on this - it's that good! Email me with your phone number and I'll contact you for details. But please, this deal's for real, so be ready to act if you like what you hear.
Sometimes, it actually pays to wait. So if you've sat on the sidelines until now, NOW'S the time to act on this - it's that good! Email me with your phone number and I'll contact you for details. But please, this deal's for real, so be ready to act if you like what you hear.
Saturday, September 23, 2006
Free SEO Advice to Las Vegas High Rise Condo Website Developers
To continue a previous rant of mine, web development is a strong weapon in my marketing arsenal. That's why it kills me when I see all these high rise condo developers spending tons of money on websites that may look great, but really don't help sell the product. Just about every one of them are search-engine friendly nightmares.
There are two types of search engine results - the ones you get for free (organic placement) and the ones you have to pay for (pay per click advertising). And my guess is high rise developers are foolishly paying aplenty for their search engine results.
Website promotion starts with good design, simple navigation, great content and keyword relevance, all of which play a major role in how search engines index websites. Search engines send out "bots" that crawl sites for content and relevance. They are extremely impatient and don't care about dropdown navigation, or flash movies, or cool graphics. They want details, and if they see garbage code, guess what the search engine will think of the site?
The use of the right keywords in right places in the right context with the correct number of times will do wonders in optimizing your site for these bots. That's what Search Engine Optimization (SEO) is all about.
Remember that no matter how nice your site looks to the human eye - and there are many high rise condo sites that really look great! - search engines just don't appreciate art, really don't care about messages written on graphics and totally overlook flash introductions as if they're not even there. Search engine scripts look for the links on the site, then follows each one in the order they were detected on the HTML code.
So regarding page content, you need to get the point quickly and make sure it's worth getting to in the first place. Search engines regard words that are used most often on your site as the most important. The challenge is to develop text that both the human user and the search engine robot want to see at the same time. Content must be distributed effectively, using every sentence as a keyword phrase that you want the search engine to index you for. I have yet to see a high rise developer's website here in Las Vegas that does that correctly.
Choosing the proper keywords throughout your website is the most important component of high search engine results. Find the proper keywords by preparing a list of all possible words, match their popularity against the competition, then implement the results. Once that's implemented, all you need to do is wait for the "bot" to return and you'll see amazing organic results from search engine queries.
There are two types of search engine results - the ones you get for free (organic placement) and the ones you have to pay for (pay per click advertising). And my guess is high rise developers are foolishly paying aplenty for their search engine results.
Website promotion starts with good design, simple navigation, great content and keyword relevance, all of which play a major role in how search engines index websites. Search engines send out "bots" that crawl sites for content and relevance. They are extremely impatient and don't care about dropdown navigation, or flash movies, or cool graphics. They want details, and if they see garbage code, guess what the search engine will think of the site?
The use of the right keywords in right places in the right context with the correct number of times will do wonders in optimizing your site for these bots. That's what Search Engine Optimization (SEO) is all about.
Remember that no matter how nice your site looks to the human eye - and there are many high rise condo sites that really look great! - search engines just don't appreciate art, really don't care about messages written on graphics and totally overlook flash introductions as if they're not even there. Search engine scripts look for the links on the site, then follows each one in the order they were detected on the HTML code.
So regarding page content, you need to get the point quickly and make sure it's worth getting to in the first place. Search engines regard words that are used most often on your site as the most important. The challenge is to develop text that both the human user and the search engine robot want to see at the same time. Content must be distributed effectively, using every sentence as a keyword phrase that you want the search engine to index you for. I have yet to see a high rise developer's website here in Las Vegas that does that correctly.
Choosing the proper keywords throughout your website is the most important component of high search engine results. Find the proper keywords by preparing a list of all possible words, match their popularity against the competition, then implement the results. Once that's implemented, all you need to do is wait for the "bot" to return and you'll see amazing organic results from search engine queries.
Friday, September 15, 2006
Don't Forget Our Preconstruction Condos and Investments Blog
As mentioned the other day, high rise investing isn't for everyone. But that doesn't mean you can't take advantage of the pre-construction pie.
Investment Real Estate can take many shapes and sizes. We continue to see a huge demand for investment real estate at wholesale prices within reasonable price points and have another terrific investment real estate opportunity for your review at our preconstruction condos and investments blog. Check it out and contact me with any comments or questions you may have.
Investment Real Estate can take many shapes and sizes. We continue to see a huge demand for investment real estate at wholesale prices within reasonable price points and have another terrific investment real estate opportunity for your review at our preconstruction condos and investments blog. Check it out and contact me with any comments or questions you may have.
Wednesday, September 13, 2006
High Rise Condo Real Estate Investing in 5 Simple Steps
Everyone's always talking about investing in real estate, and investing in high rise condos in particular. However, investment real estate can mean a whole number of things to each individual investor. That's why it's so important to understand the "ins and outs" of high rise condo investments. Here's how to do it in 5 simple steps:
1) What is investment real estate to you?
People invest and buy high rises with a certain expectation of return, the "return on investment" or ROI. Your ROI better be worth the time, effort, and risk and it better be a positive number somehow. Are you playing the appreciation angle (a speculator) or are you interested in cash-flow? (an investor). Determine the capital that will be tied up in your property and compare it to the profit you think you'll make. Are you comfortable with the risk?
2) Figure out how much you can spend
For this one, remember you have avenues available to you that you probably haven't even considered. Perhaps you already own an investment property that's not providing an ROI that you're looking for, but you're afraid of selling due to capital gains taxes. Did you know the IRS' Section 1031 allows you to sell real estate that has appreciated in value with the ability to roll it all over into a "like-kind" property without paying any capital gains taxes? Also, did you know you can use money in your IRA to fund the purchase of real estate?
Your purchasing power is determined by your ability to borrow or leverage cash. If you qualify for debt service on a $500,000 high rise condo and only have $50K in the property, then your money is working exponentially and your ROI will be higher than if you paid cash for the entire purchase price.
3. What's your exit strategy?
No one can tell you exactly how well or poorly a high rise condo investment will perform in Las Vegas. Have you ever heard the term, "historically speaking"? Well, here in Las Vegas, the high rise condo market is so new, there is no "historic" benchmark. Instead, begin with the end in mind. Define your high rise condo goal. Will you flip, or will you cash-flow it out? What kind of ROI are you hoping for? And when it comes time to sell, how you will you get that done? Remember, in the Las Vegas market, you almost certainly will have to close on your deal. Some projects restrict you from selling for periods up to a year. You better be prepared to make monthly payments on your unit or face dire consequences.
4. Keep your eyes and ears open to the market
Will the high rise market allow you to cash flow out your property on a consistent monthly basis. The best answer is: "it depends". The equity you have in your property along with your expenses such as HOA dues, property taxes, maintenances, and of course debt service will go a long way into answering that question. What kind of rental program is associated with the property? Will you rent it out yourself, and if so, what's the ROI on YOUR time? Ownership has it's costs (and its profits too!) Determine the cost of carrying your condo. With a long term vision of ownership, if we assume a negative cash flow, you may be comfortable with that due to the appreciation value of the property over time. Or you may not be. Either way, you need to feel comfortable that you're at least riding an appreciating marketplace - along with a quality project as well.
5. Take some form of action, whatever it may be.
Gather all the information from steps 1-4 and take action in one direction or another. With all the information at your fingertips, the tempation is to sit on the sidelines until you learn all there is about a certain topic, which is impossible. Don't fall into the "analysis paralysis" trap. Perhaps after looking at the fundamentals, the property type, the market trend, and the area data, you determine that high rise investing isn't for you. That's okay, but get going on some other real estate investment that DOES match your criteria and take action.
Will a high rise condo property cash flow? The answer is there is no guarantee. Will a high rise condo property appreciate? The answer still is there is no guarantee. But if you make an informed and educated decision based on the fundamentals, you'll sleep better with your purchasing decision. And you'll always have a friend in the real estate world on this blog.
1) What is investment real estate to you?
People invest and buy high rises with a certain expectation of return, the "return on investment" or ROI. Your ROI better be worth the time, effort, and risk and it better be a positive number somehow. Are you playing the appreciation angle (a speculator) or are you interested in cash-flow? (an investor). Determine the capital that will be tied up in your property and compare it to the profit you think you'll make. Are you comfortable with the risk?
2) Figure out how much you can spend
For this one, remember you have avenues available to you that you probably haven't even considered. Perhaps you already own an investment property that's not providing an ROI that you're looking for, but you're afraid of selling due to capital gains taxes. Did you know the IRS' Section 1031 allows you to sell real estate that has appreciated in value with the ability to roll it all over into a "like-kind" property without paying any capital gains taxes? Also, did you know you can use money in your IRA to fund the purchase of real estate?
Your purchasing power is determined by your ability to borrow or leverage cash. If you qualify for debt service on a $500,000 high rise condo and only have $50K in the property, then your money is working exponentially and your ROI will be higher than if you paid cash for the entire purchase price.
3. What's your exit strategy?
No one can tell you exactly how well or poorly a high rise condo investment will perform in Las Vegas. Have you ever heard the term, "historically speaking"? Well, here in Las Vegas, the high rise condo market is so new, there is no "historic" benchmark. Instead, begin with the end in mind. Define your high rise condo goal. Will you flip, or will you cash-flow it out? What kind of ROI are you hoping for? And when it comes time to sell, how you will you get that done? Remember, in the Las Vegas market, you almost certainly will have to close on your deal. Some projects restrict you from selling for periods up to a year. You better be prepared to make monthly payments on your unit or face dire consequences.
4. Keep your eyes and ears open to the market
Will the high rise market allow you to cash flow out your property on a consistent monthly basis. The best answer is: "it depends". The equity you have in your property along with your expenses such as HOA dues, property taxes, maintenances, and of course debt service will go a long way into answering that question. What kind of rental program is associated with the property? Will you rent it out yourself, and if so, what's the ROI on YOUR time? Ownership has it's costs (and its profits too!) Determine the cost of carrying your condo. With a long term vision of ownership, if we assume a negative cash flow, you may be comfortable with that due to the appreciation value of the property over time. Or you may not be. Either way, you need to feel comfortable that you're at least riding an appreciating marketplace - along with a quality project as well.
5. Take some form of action, whatever it may be.
Gather all the information from steps 1-4 and take action in one direction or another. With all the information at your fingertips, the tempation is to sit on the sidelines until you learn all there is about a certain topic, which is impossible. Don't fall into the "analysis paralysis" trap. Perhaps after looking at the fundamentals, the property type, the market trend, and the area data, you determine that high rise investing isn't for you. That's okay, but get going on some other real estate investment that DOES match your criteria and take action.
Will a high rise condo property cash flow? The answer is there is no guarantee. Will a high rise condo property appreciate? The answer still is there is no guarantee. But if you make an informed and educated decision based on the fundamentals, you'll sleep better with your purchasing decision. And you'll always have a friend in the real estate world on this blog.
Pinnacle Las Vegas High Rise Condo Resort Registration Link Back Online
The link to register for the Pinnacle high rise condo resort project is back online and working again. A number of you contacted me regarding the "page cannot be found" error message that was displayed whenever you clicked on the link or the graphic, and after relaying the problem to the Pinnacle's web team, they have fixed the issue.
So what happens when you click on
the link or the graphic to register for this project? Well, for starters, you are under no obligation to do anything and your contact information is kept strictly confidential. By registering, the good people at the Pinnacle will simply send you out their Media Kit, containing a full-color brochure and an interactive DVD which shows off the project very nicely.
Then after a week or so, you'll get either a follow-up email or a phone call to see if you received the package and if you had any questions or comments. And that's it. No one hounds you... no one will try to "sell" you... it's all completely non-pressure.
So register, get the package, and perhaps the project may sell itself!
So what happens when you click onthe link or the graphic to register for this project? Well, for starters, you are under no obligation to do anything and your contact information is kept strictly confidential. By registering, the good people at the Pinnacle will simply send you out their Media Kit, containing a full-color brochure and an interactive DVD which shows off the project very nicely.
Then after a week or so, you'll get either a follow-up email or a phone call to see if you received the package and if you had any questions or comments. And that's it. No one hounds you... no one will try to "sell" you... it's all completely non-pressure.
So register, get the package, and perhaps the project may sell itself!
Thursday, September 07, 2006
Red Rock Residences High Rise Condo Project Cancelled
Last month, we wrote that Station Casinos pulled out of a partnership to build high rise condo towers at its Red Rock Resort. Today word is out that they've announced the Red Rock Residences project has been officially canceled altogether.
I suppose canceling the project is a much more attractive alternative than the nasty, expensive lawsuit they were facing for backing out of the partnership in the first place.
This project was only in the "interest list" stage, so there weren't any unit buyers that got burned. But Station Casino's chief development officer, Scott Nielson, says he wouldn't count this project out in the future. I would. With all the money they make on their gaming properties, perhaps the land is best used as - oh, I don't know... a casino?
I suppose canceling the project is a much more attractive alternative than the nasty, expensive lawsuit they were facing for backing out of the partnership in the first place.
This project was only in the "interest list" stage, so there weren't any unit buyers that got burned. But Station Casino's chief development officer, Scott Nielson, says he wouldn't count this project out in the future. I would. With all the money they make on their gaming properties, perhaps the land is best used as - oh, I don't know... a casino?
Tuesday, September 05, 2006
Buy a Central Las Vegas High Rise Condo with a Deposit Bond
The Las Vegas Central high rise condo project is making it easier for you than ever to purchase a unit in their development. Though an affiliation with Australian based Deposit Access, you now have the opportunity to use a QBE Deposit Bond as a guarantee which will actually substitute for the 10% cash deposit you are required to pay up-front when purchasing a property. With terms ranging up to 48 months, you can now keep your money working for you right until the closing date.
That's right - there's no need for you to withdraw cash from savings or other investments for your high rise condo initial deposits. And the best part is that in addition to being cheaper than obtaining financing terms, the process of applying for a Deposit Bond is quick and simple. Just download an application from their website and Deposit Access will assess your application based on your current net asset (equity) position and your ability to meet your current financial commitments as well as the new purchase. You can even apply online.
Deposit Access has been issuing property Deposit Bonds since 1998 and costs vary, depending on the amount and the terms of the Deposit Bond. The developers of the Central have been in contact with Deposit Access about making this an official program in their offering, so when that happens, they'll be able to hold your hand through the entire process. Attend a priority preview and inquire about the status of this program.
When news gets out about this program, I'm sure the other high rise projects in town will follow suit. But for now, the Las Vegas Central continues to lead the Las Vegas high rise condo league in innovative programs.
That's right - there's no need for you to withdraw cash from savings or other investments for your high rise condo initial deposits. And the best part is that in addition to being cheaper than obtaining financing terms, the process of applying for a Deposit Bond is quick and simple. Just download an application from their website and Deposit Access will assess your application based on your current net asset (equity) position and your ability to meet your current financial commitments as well as the new purchase. You can even apply online.
Deposit Access has been issuing property Deposit Bonds since 1998 and costs vary, depending on the amount and the terms of the Deposit Bond. The developers of the Central have been in contact with Deposit Access about making this an official program in their offering, so when that happens, they'll be able to hold your hand through the entire process. Attend a priority preview and inquire about the status of this program.
When news gets out about this program, I'm sure the other high rise projects in town will follow suit. But for now, the Las Vegas Central continues to lead the Las Vegas high rise condo league in innovative programs.
Friday, September 01, 2006
Real Estate Agents & Developers: Set yourself apart from the Rest with your very own Private Label Coffee
My favorite coffee company, Andiamo Coffee, offers private label programs that truly will make your clients and prospects take notice. Unlike pens, refridgerator magnets, and other useless items just about everyone throws out, your picture, logo or message can be on display every morning when one goes to the kitchen for their daily dose of java. And how great would it be to not only offer prospective condo buyers a cup of coffee when they walk into your showroom, but also to offer a great tasting coffee they can ONLY get from YOU!
I'm always amazed at the lack of thought people put into their coffee. It's something everyone drinks and it's also become a classy symbol of an upscale lifestyle. Yet high rise developers - who are targeting the upscale clientele with $1000 per square foot pricing - seem to only offer a regular coffeemaker in their kitchen layout offerings, to say nothing of the lack of their own private label coffee in their own perfectly decorated sales centers.
Agents, brokers, and developers alike... you need to come up with original and effective means of separating yourself apart from the rest. Using Andiamo Coffee's private labeling program is a step in the right direction. And it only takes 5 minutes! Visit their website or contact Paul for more information.
I'm always amazed at the lack of thought people put into their coffee. It's something everyone drinks and it's also become a classy symbol of an upscale lifestyle. Yet high rise developers - who are targeting the upscale clientele with $1000 per square foot pricing - seem to only offer a regular coffeemaker in their kitchen layout offerings, to say nothing of the lack of their own private label coffee in their own perfectly decorated sales centers.
Agents, brokers, and developers alike... you need to come up with original and effective means of separating yourself apart from the rest. Using Andiamo Coffee's private labeling program is a step in the right direction. And it only takes 5 minutes! Visit their website or contact Paul for more information.
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