Hotel & Podcast Updates
It’s been 8 months since COVID-19 hit the United States and the NBA canceled their season. And while I recorded a few unedited episodes to share what was happening with our hotels, in today’s episode we share a full update as well as some changes with the podcast.
In this episode, we’re discussing…
The steps Mike took immediately in March and April just as our hotels were gearing up for our biggest season and COVID-19 shut down travel.
Leveraging the reduced occupancy timeframe to complete a remodel.
What steps Mike continues to take today to navigate this challenging time.
Which areas are performing well and which are challenged?
Are there any hotel deals right now?
What advice Mike has for someone looking to get into hotel investing.
Podcast transition.
Mike’s Top Tips:
Our hotel investment criteria has changed – we like rural areas, close to major metropolitan cities, right off major highways, and access to truck parking.
Hotel deals – we are starting to see some opportunities in the CMBS space but there are still many unknowns and deal flow has been slow.
Find a partner – if you don’t have hotel experience but want to take advantage of the deals you believe are coming, find a partner, or reach out to Mike for ideas.
Resources:
Mike Stohler | https://www.linkedin.com/in/michaelstohler/ | www.gatewaype.com
Unsure where to start investing your money? Check out our free quiz for guidance and ideas about what to do with your money that’s smarter and can help you generate extra income now.
Like what you’re hearing on The Richer Geek? Have questions you want me to cover? Connect with me on LinkedIn and let me know – I’d love to hear from you!
ABOUT NICHOLE AND MIKE
Nichole and Mike Stohler are co-founders and managing partners at Gateway Private Equity Group, a real estate investment firm whose portfolio has included a hotel, multifamily, and residential properties. Nichole also works full time in Technology Sales. Mike is a Navy Veteran and previous commercial Airline Pilot. Between apartment complexes, houses, and their hotel, Nichole and Mike have owned or operated over 1300 units. When Nichole and Mike first started in real estate investing in 1999, they lacked experience and failed. Through committed action to learn, grow their skills, and help others, they have created immense change in their business and lives.
Since their early beginnings, Nichole and Mike have seen significant financial gain and wealth-generation through powerful real estate investing. Passionate about the impact real estate investing has had on their lives, Nichole and Mike leverage their experience to help busy professionals create income-producing portfolios. Nichole has been profiled in publications such as Country Living Magazine and has written an editor’s choice post for Bigger Pockets.
