{"id":1639,"date":"2007-07-06T08:15:21","date_gmt":"2007-07-06T15:15:21","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1639"},"modified":"2007-07-07T10:13:05","modified_gmt":"2007-07-07T17:13:05","slug":"looking-for-funky-residential-real-estate-on-the-strip-in-las-vegas-youre-surrounded-by-it","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1639\/looking-for-funky-residential-real-estate-on-the-strip-in-las-vegas-youre-surrounded-by-it\/","title":{"rendered":"Looking for funky residential real estate on the Strip in Las Vegas? You’re surrounded by it…"},"content":{"rendered":"

I’ll share one more idea from Las Vegas, then I’m going back home to where the men are men and the women are symmetrical.<\/p>\n

Start with this: Condotels. This is the utterly brilliant scheme by which I reap the financial benefits of owning a hotel suite while foisting off on you all the risks of owning that suite. When business is slow, neither one of us makes money, but you incur all the costs. Very gracious of you to underwrite my business in this way.<\/p>\n

This of course is the time-honored business strategy that I call Socializing the Risk. I may give up some portion of the profits I might have made, but I absolve myself of all the risks associated with ownership while retaining some, most or even all of the predictable rewards. You in your turn acquire all right, title and interest in and to the unpredictable rewards — e.g., future appreciation — along with all of the costs and downside risks of ownership.<\/p>\n

Which of us is getting the better deal?<\/p>\n

Who pre-printed the paperwork?<\/p>\n

\"dscf5471.jpg\"<\/p>\n

In many of the newer, larger casino hotel resorts, you will see fake structures like this. This is at Paris, but you can see the same kind of faux-cade at The Venetian or Caesar’s Palace or Planet Hollywood. What we have is a ground-floor retail establishment with apartments overhead, just like back in Europe or Olde Boston Towne.<\/p>\n

Here’s my question: Why are those apartments fake?<\/p>\n

Why aren’t they condos or condotels or even just hotel rooms? Why not condotel whole structures, with the resort deciding who gets to lease the retail space? Living inside a casino would be too loud and too smoky for many people, but there are others who would love it, if not as a full-time residence then as a getaway home.<\/p>\n

This retro mode of residential-space-over-retail-space is already happening at Kierland Commons-style outdoor malls. You can find it in Las Vegas at Green Valley Ranch, and no doubt elsewhere. It’s too late to do it in extant resorts, but it might be a fun idea to try in newly-built facilities.<\/p>\n

Too much Disney for my tastes, but Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I’ll share one more idea from Las Vegas, then I’m going back home to where the men are men and the women are symmetrical. Start with this: Condotels. This is the utterly brilliant scheme by which I reap the financial benefits of owning a hotel suite while foisting off on you all the risks of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-1639","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3323,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3323\/a-suite-in-the-augustus-tower-with-a-view-of-the-south-strip-a-bucket-of-ice-and-a-bottle-of-old-bushmills-and-a-gorgeous-blonde-i-was-lucky-enough-to-marry-but-if-you-take-away-everything-exce\/","url_meta":{"origin":1639,"position":0},"title":"A suite in the Augustus Tower with a view of the South Strip, a bucket of ice and a bottle of Old Bushmills — and a gorgeous blonde I was lucky enough to marry… But if you take away everything except Cathleen, we’ll still have a wonderful anniversary","author":"Greg Swann","date":"July 4, 2008","format":false,"excerpt":"It's our wedding anniversary today, and normally we would be in Sin City, swimming and playing. But Q4 2007 and Q1 2008 were lean enough that Cathy insists on wasting our money paying bills, rather than wasting it in Las Vegas, where money is meant to be wasted. It's funny\u2026","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1325,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1325\/whats-the-hottest-game-in-vegas-strip-monopoly\/","url_meta":{"origin":1639,"position":1},"title":"What’s the hottest game in Vegas? Strip Monopoly!","author":"Greg Swann","date":"April 20, 2007","format":false,"excerpt":"Oh, keep your shirt on... Strip Monopoly refers to that famed Parker Brothers board game (now owned by the soulless Hasbro, alas) as played with the real-life real estate on Las Vegas Boulevard -- a\/k\/a \"The Strip.\" Earlier this week, Kirk Kerkorian's MGM Mirage acquired 33.4 acres of Strip-front real\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2199,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2199\/birthing-bloodhoundblogtv-in-time-for-the-nar-convention\/","url_meta":{"origin":1639,"position":2},"title":"Birthing BloodhoundBlog.TV in time for the NAR Convention","author":"Greg Swann","date":"November 9, 2007","format":false,"excerpt":"We're going to do the first run of a BloodhoundBlog.TV taping this Sunday night. My own life is a blur, but events are ganging up on me. I expect to have video posted by Monday early morning, before I take off for Las Vegas. Cathy won't be with me, alas.\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3367,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3367\/apprehending-the-financial-implications-of-owning-an-iphone-3g\/","url_meta":{"origin":1639,"position":3},"title":"Apprehending the financial implications of owning an iPhone 3G","author":"Greg Swann","date":"July 16, 2008","format":false,"excerpt":"","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8463,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8463\/unchained-freedom-friends-keep-friends-in-the-business\/","url_meta":{"origin":1639,"position":4},"title":"Unchained Freedom “Friends Keep Friends In The Business”","author":"Mark Madsen","date":"May 15, 2009","format":false,"excerpt":"As I was driving back to Las Vegas after a full week of hanging out with the Bloodhound crew at Unchained, my mind was racing to get a grasp on all of the new real estate marketing possibilities that I could achieve by the end of the year. The confidence\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":190,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/190\/owning-versus-renting-in-the-long-run-owners-appreciate-their-returns\/","url_meta":{"origin":1639,"position":5},"title":"Owning versus renting: In the long-run, owners appreciate their returns . . .","author":"Greg Swann","date":"August 9, 2006","format":false,"excerpt":"Searchlight Crusade has a compelling comparison of the financial benefits of buying a home, as opposed to renting:Once you have bought, you step off of that one way escalator of rising rents. Rents increase at a yearly rate about comparable to inflation in most cases, and rents never drop. I\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1639"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1639\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}