Why Now is the Time to Invest in Hotels with Mike Ealy Ep. 375
Why Now is the Time to Invest in Hotels with Mike Ealy Ep. 375
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. Letâs dive in to learn about Mr. Ealyâs latest interest, hotels, and the lessons learned that led him to success.
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[00:01 â 03:02] Opening SegmentÂ
- Mike talks about his background.
- How he went from broke to millions.
- He talks about his book âBroke to Millionsâ.
[03:02 â 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.Â
- 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 â 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.Â
[26:08 â 30:50] Round of Insights
Apparent Failure:
Being broke.
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Digital Resource:
Microsoft Word
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Most Recommended Book:
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Daily Habit:
Meditation
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Number One Insight for Commercial Real Estate Investing
Abfolio to connect with investors.
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Best Place to Grab a Bite in CincinnatiÂ
Bw3
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Contact Mike:
To learn more, you can go to Mikeâs website. and click here to book a call. You can download his book âFrom Broke to Millionsâ here.Â
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Tweetable Quotes:
âYou will never win if you quit.â - Mike Ealy
âNever sell yourself short because if you donât ask for it, you wonât receive it.â - Mike Ealy
âWhen people are fearful, be greedy. When people are greedy, be fearful.â - Mike Ealy
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