Why Now is the Time to Invest in Hotels with Mike Ealy
Mike Ealy has developed Nassau Investments into one of the key development firms in the Cincinnati area. Over an extensive twenty-year period, Mr. Ealy applied his knowledge of property and asset management to negotiate hundreds of successful real estate transactions. Let’s dive in to learn about Mr. Ealy’s latest interest, hotels, and the lessons learned that led him to success.
Announcement: Download Our Sample Deal and Join Our Mailing List
[00:01 – 03:02] Opening Segment
Mike talks about his background.
How he went from broke to millions.
He talks about his book “Broke to Millions”.
[03:02 – 19:17] Big Lessons
Some of the key things to leverage the resources around you.
The importance of getting out of your comfort zone to be able to succeed.
Mike talks about the importance of making a commitment and staying disciplined.
He talks about his transition from apartments to hotels.
How he failed in his first hotel deal and how it led to other successful hotel investments.
Key takeaways from a failed hotel deal worth $80 million dollars.
The importance of choosing the right partner.
The importance of knowing what you are looking for.
[19:17 – 26:08] Hotels vs Multifamily
Mike talks about the downsides and upsides of hotels.
How the hotel customer profile and stay lengths are going to change after Covid.
The reasons why you can hire more professional staff with hotels.
What it is like to be working with established named brands.
The ins and outs of hotel franchises.
[26:08 – 30:50] Round of Insights
Most Recommended Book:
Number One Insight for Commercial Real Estate Investing
Abfolio to connect with investors.
Best Place to Grab a Bite in Cincinnati
“You will never win if you quit.” - Mike Ealy
“Never sell yourself short because if you don’t ask for it, you won’t receive it.” - Mike Ealy
“When people are fearful, be greedy. When people are greedy, be fearful.” - Mike Ealy
Thank you for joining us for another great episode! If you're enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you do not miss an episode