All Forum Posts by: John M.

 Add to that short term rentals (less than 30 days) aren't even legal in Clark County.  The city of Las Vegas allows them with a permit, but they are expensive and they only give out a few a year.  I am not even sure how many of the Airbnb operators in Vegas don't even realize it's not legal.  That speaks to the importance of due diligence and research before making an investment no matter what city it's in.

@Account Closed If hotel rates affect your revenues then I take it you are doing Airbnb or short term rentals?  If that's the case I don't blame you for being worried.  One of the reasons I decided not to do Airbnb in Vegas is that you are competing with resorts that have all the pricing power.  That's not a good market for short term rentals in my opinion.

Hotel room prices change constantly they are based on algorithms.  

@Account Closed

Someone is in a panic, but I don't think it's the Palms Hotel.

If you haven't sold yet, what's your hesitation?

If a mid  week deal at the Palms is enough to trigger someone into a "Red Alert - Recession Alert - Sell Alert"  then they should sell their properties.  Why lose sleep and be stressed out?  Life is too short.

@Account Closed I don't stay at Circus Circus lol that place is a dump and has been for years, would be lucky to get 1 star.

I am also invested there and have been going there for years.

If you want to sell than sell.  Run for the hills.

That isn't recession pricing, it's mid week deals.  I go to Vegas at least 2 or 3 times a year and get similar rates or even lower at 4 star resorts on the strip, not off strip like the Palms.

 Exactly.

I know some people that have as many as 3 or 4 ex-wives or ex-husbands, including my own family members.  What a joke!

It's really a mess, and their kids get dragged around like luggage.  Sad!

@Chaz Mathias "Hell hath no fury like a woman scorned"

Just sayin' :)

I gave my opinion on this earlier in this thread.  He's assuming that the in the next economic slowdown that the Fed will reduce rates back towards zero again (which I would probably agree with) but he thinks investors will sell the dollar when they realize the Fed can't normalize interest rates.  He's assuming they don't already know this like it's not apparent.  Anyone can see with interest rates where they are now, they haven't been able to normalize and the dollar hasn't crashed.  If anything the dollar has been rallying this year.  

I think Peter Schiff makes some very good arguments.  Where I think he's wrong is every problem doesn't just have one extreme outcome, and his worldview is based on extremes.  Extremists can sell lots of books, however.

@Maya Torres I rent where I live, and own what I can rent, as Grant Cardone preaches.

Maybe I am a vagabond or a gypsy I don't know but not owning a primary residence has made my life a lot less complicated (I previously owned two very nice homes), so instead I own two rentals.  And if I want to change things up it's easy.  Also If the economy tanks, I lose my job, I hate my neighbors, etc I am not stuck and living in stress, I just terminate my lease and I move out.  Simple.