Comments on: Land Deals

By: Bryan

Bryan — Fri, 13 Oct 2006 04:31:35 +0000

Actually, considering it was in Vegas, and the length of time he held it, it was a good deal, but not a great one. If he had bought closer in he would have made more money sooner.

I have to assume that his property taxes have really been going up in the last couple of years and he will pay a sizable chunk for long term capital gains, but it’s better than losing money by having it tied up up in stocks.

By: Steve Bates

Steve Bates — Fri, 13 Oct 2006 04:06:17 +0000

Ah. A powerful Democrat made a wise investment, met all his legal obligations, bought low, sold high and made himself some real money. THAT was what Solomon et al found offensive... a Democrat making a decent return on investment. IOKIYAR.

By: Bryan

Bryan — Fri, 13 Oct 2006 03:47:25 +0000

They don’t have them anywhere near the Strip, but they are building them in the new ‘burbs. Big parcels near the Strip are almost all reserved for casino development. The new stuff is being built for the “other Las Vegas”, where people actually live and raise children.

I had a cousin who use to live there, and an uncle who was in the Nevada civil service who visited all the time, because his job was in the Gaming Commission. He had a heck of a time because he couldn’t stay at a casino [conflict of interest] and there aren’t that many rooms not in a casino.

Malls are one of the last things built because they require a minimum population density and infrastructure improvements before they are viable.

By: Michael

Michael — Fri, 13 Oct 2006 03:22:10 +0000

Actually, there are quite a lot of strip malls in Las Vegas. By contrast, I don’t believe I’ve ever seen an enclosed one out there, though I’d be amazed if they didn’t have at least a few.