On the show today we have Nichole Stohler from The Richer Geek Podcast, who is here to tell us all about her hotel syndication business! This is a relatively fresh topic for the show and Nichole does a great job of filling us in on this area of real estate and how it compares to what we usually talk about.
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We hear from Nichole about her full-time occupation, how she found herself in real estate and what brought about the decision to move into the hospitality side of things. From there she gives us some great information on finding, acquiring, rebranding and more. We also discuss the idea of independent hotels and how this measures up against falling under established brands and reputable names. Nichole shares some thoughts on returns and the key numbers to look at when assessing investments before explaining her buying criteria and some of the ways in which she has improved her business recently. For all this and more, tune in with us today!
Key Points From This Episode:
- A little bit about Nichole’s background and where she is based.
- Why Nichole selected hotels as the major asset class to focus on.
- Comparing hotel investments with the syndication of other asset classes.
- The process of finding and acquiring appropriate hotel investments.
- Key points to note when on the lookout for potential hotel purchases.
- When to consider the option of rebranding your hotel.
- Going the independent route versus falling under established brands.
- The typical structure of returns on hotels in comparison.
- Nichole’s buying criteria and the questions she asks before a purchase.
- The financial percentages and guidelines that Nichole uses.
- Challenging areas of the hotel real estate industry, according to Nichole!
- The one piece of software thing that Nichole advises syndicators to use.
- How hard work has contributed to Nichole’s success.
- And much more!
[bctt tweet=”We are not buying because it’s a specific brand. We’re buying because there’s economic centers. There’s development going in. There’s a lot of reasons to be in that particular space. — @RicherGeek” username=”Whitney_Sewell”]
Links Mentioned in Today’s Episode:
About Nichole Stohler
Nichole Stohler is founder and host of The Richer Geek Podcast, where she lives out her mission of educating and empowering high-income professionals to find creative ways of building wealth and financial freedom. Nichole has been in technology sales for 22 years, and absolutely loves how fast-paced, dynamic, and diverse the industry can be. As much as she’s enjoyed her career, however, Nichole realized she needed a “plan B.” So she created one. While working full-time, Nichole and her husband built an 8-figure real estate portfolio of multi-family, single-family, and hotel properties. With her own “plan B” in place, Nichole believes that it’s not only possible, but it’s essential that others in high-income roles find ways to make their money work for them, so they can finally achieve the wealth and financial freedom they deserve. Through her conversations on The Richer Geek Podcast, Nichole is helping professionals take the next step toward their new lives of freedom and success.
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