Investor Central

Welcome to the premier resource for Las Vegas investors looking to generate wealth through real estate. Whether you already own a property and need management help or you need assistance to get started, you have found the right place.

Wednesday, July 30, 2014

Las Vegas Tourism on Record Pace in June

The Las Vegas Convention and Visitors Authority recently announced the best visitor volume on record for the month of June, reporting 3.46 million visitors to Southern Nevada.  This was a 3.1 percent increase from a year earlier, and marked the third-best month for Vegas valley tourism in 2014.  Las Vegas is on track to attract a total of over 41 million tourists this year, a substantial increase from the 39.7 million visitor record made in 2012.

Read more at the LVRJ article:


Tuesday, July 22, 2014

Renewable Energy Creating Thousands of Nevada Jobs, Reid Says

This past Monday, Senator Harry Reid defended the economic impact of renewable energy in Nevada.  He attributed such projects with creating "thousands and thousands of jobs", although many of these jobs are short-term.  Similar to the building of a highway, lots of jobs are created to construct one, then a smaller number is kept to keep the highway in working condition.

The government distributed over $14 billion in grants and loan guarantees to renewable energy projects between 2007-2010 in hopes to spark the industry during the recession. A 2013 study by the American Council on Renewable Energy points out that 21,861 jobs in Nevada are associated with "green goods and services". This is a Bureau of Labor Statistics category that includes jobs in businesses "that benefit the environment or conserve natural resources".

In response to skepticism toward the job benefits of renewable energy projects, Reid cited MGM Resorts as a company that incorporates environmental concerns into their business model.  The company will be including rooftop solar in its $375 million arena project that broke ground off the Strip in May, and it currently boasts its City Center complex as the largest green project in North America.  Jim Murren, Chairman of MGM Resorts International, told the Review Journal, "MGM determined long ago it needed to be a more careful steward of the environment. We have decided as a company many years ago we would invest literally now billions of dollars in clean energy."

Link to the article:

Thursday, July 17, 2014

Developer Secures $312 Million Loan for Summerlin Mall, Office Project

With the security of a near $312 million loan, developer Howard Hughes Corp. can continue to finance its construction on the new Downtown Summerlin project.  The massive retail and office project near Red Rock Resort, formerly referred to as the Shops at Summerlin, is now part of the broader Downtown Summerlin Project.  The Project is being pitched as a pedestrian-friendly "urban center" with over 125 shops and restaurants that are slated to open October 9 of this year.

Read more on the story here:

Photo: L.E. BASKOW

Tuesday, July 15, 2014

Ikea Announces Plans to Open Las Vegas-Area Store

Ikea announced yesterday that is plans to open its first store in Las Vegas at Sunset Road and Durango Drive near the 215 Beltway. The store is expected to open to the Las Vegas market in the summer of 2016 with 351,000 square feet of lot space over 26 acres. The store will provide 300 full and part-time jobs and its famous dine-in cafe (known for their fan-favorite Swedish meatballs).

Ikea officials said they had been eyeing the Las Vegas market for a decade as it was approaching Ikea's minimum market size of 2 million people. When they found a lot large enough, officials finally made their move. Fans of the assemble-it-yourself furniture retailer and Clark County government officials welcomed the news with open arms.

"Clark County is moving up to the next level," said Steve Sisolak, the county commission chairman. The Swedish company noted in their statement that they already had 101,000 customers in the Las Vegas area prior to the announcement.

The below photos show renderings of street and aerial views of the proposed Ikea store to arrive in Las Vegas.

Link to the article:


Tuesday, July 8, 2014

Consistent Gains Mark Nevada Housing in First Half of ‘14

Even as sales fell during June, Nevada's housing market showed improvements in inventory and a continued increase in median house prices.  According to recent numbers from the Greater Las Vegas Association of Realtors, Nevada closed out the first half of 2014 with steady home price gains.  The median price of a single-family resale in June was $199,900, up 14.2 percent from one year earlier.  This median price is the highest reported by GLVAR since September 2008.  The median price for existing condos and town houses also jumped an even higher 26.7 percent year over year to a notable $109,000.

Check out the article for more info and statistics:


Wednesday, July 2, 2014

Caesars Entertainment to Transform Quad into Linq Hotel & Casino

Caesars Entertainment announced yesterday its newest property on the Strip, the $223 million Linq Hotel & Casino.  Formerly known as Imperial Palace, Caesar's new reimagination of the current Quad Resort & Casino will feature 2,256 brand new modern rooms and suites, a renovated entrance built around a lobby bar, and all-new retail and spa amenities and a new pool deck.

The Linq Hotel & Casino is set to welcome its first guests on October 30 at a special introductory rate starting at $89.  As the Linq Promenade retail mall is just steps away, hotel guests will be drawn by the Linq's 12 restaurants, eight bars, 14 retail shops, and two concert venues.  With all these attractions and the High Roller centering it all, the Linq was recently named the "World's Coolest New Tourist Attraction" by Travel & Leisure.

"The resort will provide guests with a highly social and connected environment, with all the great restaurants, shops and experience available at the Linq Promenade right at their fingertips," said Tariq Shaukat, executive VP and VMO of Caesars Entertainment.

Link to the article:

Tuesday, July 1, 2014

Westgate CEO Plans Sweeping Changes for Newly Acquired LVH

David Siegel, president and CEO of Westgate Resorts, confirmed on Monday that he was closing on a deal to acquire LVH hotel-casino for an undisclosed purchase price with estimates between $160 and $170 million.  The LVH, which originally opened in 1969 as the International Hotel, will be renamed to Westgate Las Vegas.  The property stands at 30-stories high and holds 3,261 rooms.

As founder and CEO of Westgate, Siegal is ecstatic to finally have his own stand-alone property in a market that he has been trying to enter for nearly three decades. Siegel hopes to welcome LVH's current 2,000 employees as part of his family, and further plans to convert about 200 rooms of the hotel to timeshare ownership.

Read more at the article: