Tuesday, June 18, 2013

FLIPPING FORMULA INVESTOR SUMMIT in LAS VEGAS

We made it to The Flipping Formula Investor Summit at the Hard Rock Hotel and Casino this weekend. The staff of Flipping Formula went all out to make the trip was well worth it, informative and productive. We did not spend a lot of time in the hotel room, but we had a few disappointments or annoyances to be more precise.

The hotel bed was wonderful; it clearly made up for any inadequacies in the room and hotel. But I was a bit miffed that there was no coffee pot in the room and no access to a refrigerator unless you paid an additional $20.00 per night. I checked the door to the mini-bar to see if I could at least put my insulin in and the door did not open. No problem, the insulin could sit at room temperature for a couple days without refrigeration as long as I did not take it out in the heat of Las Vegas. It was fine.

The night before checkout I went on the hotel TV site and queried my bill. There was a charge for $5.40 for the mini-bar. Needless to say, I went down to the hotel desk and informed the clerk that it was not even possible for us to have taken anything from the mini-bar refrigerator because the door did not even open. Nor had we taken anything from tray that held bottled water and couple of other snack items. We were not about to pay $4-$5.00 for a bottle of water that we could easily get at the CVS across the street for 99 cents.

Now I know the hotel provides these items as much for the convenience of the customer as well as to make a little extra income on the side, but I was not willing to pay their price so neither I nor my sister touched or even moved the items. They were just as the housekeeper left them. The clerk did delete the charge, but I kept wondering how it got on the bill in the first place since I couldn’t even open the door, and housekeeping had not been in the room to clean (we did not want anyone in so left the do-not-disturb sign on the door.)

There were two large Serta Perfect Sleeper, queen size beds with wonderful extra cushiony padding, not sure of the content. It was like sleeping on a cloud. But no coffee pot, no refrigerator, and no microwave. (You can see not having a coffee pot really bothered me.)  I was not exactly expecting the microwave (some hotels have one), but NO coffee pot (i.e. no hot water). (The water from the sink was not even very hot.) So much for instant oatmeal or a hot coco in the evening. I know the hotels want to keep you in the casino and at the restaurants, but come on. A little chamomile at night would be nice.

Also not too happy that the pixels on the TV kept jumping around on a regular basis and it seemed to happen on numerous stations so it appeared the TV, cable system or the network was not working very well. And of course it seemed to happen just when the characters on the TV show where about to reveal some important point (garble, garble, pixel, pixel, what did they say?). It got a little frustrating to say the least.

The gym was open at 6 am, but closed at 7 pm. The pool also closed at 7 pm just when I was headed over after the heat of the day had cooled down a little. That was disappointing.

In any case, my overall impression with the hotel was that it was very interesting with numerous pictures of rock stars and their paraphernalia, interior combinations of warm and vibrant colors. There seemed a particular affinity for the Beetles as I saw their imagines in numerous locations. The breakfast and lunch food served for the conference was tasty, diverse and plentiful. As always I ate too much because it was so good.

(The primary reason that I avoid all-you-can-eat buffet restaurants is because I just can’t stop eating when the food is so tasty, plentiful and I want to get my money’s worth. I over eat and come away feeling bloated, stuffed, and very uncomfortable. My eyes are always bigger than my stomach. And, even once I realize that I have taken too much food, I have to eat it all. I think that is from my early growing-up years where we were drilled with: “Think of the starving children in China; they don’t have enough food and privileges like you have here. What you are leaving behind on your plate could feed a family!” I have been trying to break that mind-set for years, but it is hard so I TRY not to take too much food to begin with.)

There were a couple of rude casino employees. My sister was trying to cash in her winning ticket.  She saw a casino worker and asked where to go to redeem her ticket. The clerk thumbed in the direction around the corner. That was ok, but then she could not find the slot to insert the ticket because the area was dark and had numerous drawings and words on the wall, and the slot was not obvious. She saw the same clerk and asked where to insert the ticket. He rudely pointed at the slot and said, “Right here where it says insert ticket.” Had it not been dark and better labeled, she would not have had trouble finding the slot. She felt very insulted and rudely treated like she was some kind of idiot. Knowing where something is provides 20-20 vision as they say.

Lastly, on the hotel. It is located about 10 minutes from the airport and only cost between $9 and $15 dollars by taxi depending on rush hour traffic and the route the driver takes to or from the hotel. I understand there was a shuttle, but you had to schedule ahead of time for $7.50 one way. On our trip home, we opted for the taxi and found a third person to split the cost.

Well I haven’t said much about the conference itself. I did purchase two properties that were available for investors. The team for The Flipping Formula compiled a group of properties so that the investors at the conference have some properties from which to select. The team makes sure that the selections meet minimum requirements such as good CAP rate, qualified and screened occupants in the homes, and licensed property managers handling each property.

I will talk more about the conference in subsequent blogs. Stay tuned.
Sara out.

http://www.sweethomesincalifornia.com/

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