/24-7PressRelease/ - LAS VEGAS, NV - November 7, 2007 - The Las Vegas based firm of DLG Realty and Investments has reached a milestone and is changing its business practices. In the past, DLG has been successful in selling commercial foreclosures to a wide array of buyers. It has spread out its list of foreclosures for anyone and everyone to pass around and see.
Starting November 6th, 2007 DLG is taking a different approach. "When we had 10 properties valued at 80 million or so, it was easy to take in all the phone calls and work deals through middlemen. We now have a responsibility to three different equity lenders and we have to change with the business," said Dan Gootee, President of DLG.
The new way, as Mr. Gootee went on to explain, is to limit the number of investors and qualify each investor financially before presenting the list. The middlemen will now be given a referral form and asked to turn their investors over to deal directly with the company. If the investors show proof of funds or the capacity to purchase, they will then have the opportunity to bid on the wide variety of foreclosures and notes being offered.
DLG is sending emails to its 400 investors that it currently holds to notify them of the change. When asked if he thought this would limit his investors, Mr. Gootee replied, "I sure hope so. Listen, this is how the rich get richer -- real estate speculation. The real investors who can qualify to buy these properties all follow the same basic principles in that they buy when everyone else is panicking and the properties are at their lowest. It doesn't take a genius to figure out that Las Vegas and the Desert Southwest are in store for a huge turnaround. Buying land here at 50-60% of its current value will yield huge returns in the near future -- Las Vegas in particular attracts 7500 new residents a month. With those numbers how can you miss?"
It certainly seems as if this is the best bet in town. The properties offered will soon be a private list of over $1 billion in combined value. Included in the list are several multi-million dollar home foreclosures. Mr. Gootee is available for questions in Las Vegas at 702-254-3884.
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