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Mike's Journey To Million Dollar Hotel Investing Deals
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In this episode of The REsimpli Podcast, Michael Stohler discusses his transition from managing multifamily properties to investing in hotels. Living in Scottsdale, Arizona, Mike shares his start in real estate, initially inspired by reading "Rich Dad Poor Dad." After facing challenges with his first investments, he leveraged mentorship to learn about using other people's money. Mike's portfolio grew from single-family homes to large multifamily complexes. Eventually, he entered the hotel industry to diversify and reduce competition, partnering with an experienced mentor.
Mike details the complexities of hotel investing, including franchise requirements, extensive due diligence, and managing a business on real estate. He shares insights into financial strategies, vendor negotiations, and leveraging analytics to increase hotel efficiency. Mike's current projects include a potential hotel syndication in Tulsa and an international syndication for a high-end boutique hotel in Spain.
To connect with Mike, you can visit his website gatewaype.com, his LinkedIn as Michael Stohler and his podcast "The Richer Geek".
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