Glimmer Of Good News On Las Vegas Business Front

When most of us turn on the news or read the newspapers these days, it seems all we see is negative forecasts on the business front. However, as someone who is on the ground in the business world here in Las Vegas, I’d like to bring you some positive developments on the business front! 

As a business consultant in Las Vegas, most of my clients are looking for ways to get their respective business up and running–some are looking for ways to save money on their current businesses. While much of business news these days have been negative, I’m finding a positive trend that you may want to know about.

In Las Vegas, there happens to be a significant number of commercial bank owned property–while this shows how many developers and property management companies have taken losses, it is beginning to turn around. Banks have no interests in owning property, and especially holding onto assets that continue to lose money as property values decrease. In order to get some of these properties off their books, banks are more willing than ever to make deals with developers to get these properties off their books.

The good news I bring, is that out-of-state developers and now looking at Las Vegas again. When an investor is able to pick up a property that has lost half its value in the marketplace, and turn around and develop it–it becomes an attractive business transaction. In addition, banks continue to negotiate great deals to investors who are willing to personally finance the purchase of these properties. The banks want the properties off the books, and desperately need cash to increase their ratings.

So the good news is that there couldn’t be a better time for investors to purchase property in Las Vegas. There couldn’t be a better time for developers to come in create a marketable project. Finally, business owners and entrepreneurs should consider that there hasn’t been a better time to start a new company or go forward with a new venture. Property owners are willing to negotiate leases, and land owners are willing to work with developers on some very fair and attractive deals.

All news isn’t negative in the Las Vegas Market, and local economist that I spoke too still believe that Las Vegas will start to bounce back by fall of 2009. Some of my clients are folks that couldn’t afford to get into the market a few years ago, but with prices falling they are now able to make their business dreams come true. Spread the word that now is the time to get into the Las Vegas business market–invest now when prices are low, hold onto your business or property for 5 – 10 years and do what smart business owners do…sell high!

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