Welcome to Boostly Podcast Episode 560.
In this podcast episode, Mark interviews Michael, a short-term rental operator who has recently purchased a 57-bed boutique hotel in Salem, Massachusetts.
Michael explains how he got into the boutique hotel industry and the challenges he faced along the way.
He mentions that commercial real estate in the US is an insider's game, and the relationships one builds are important.
He also notes that finding commercial properties online is difficult as they have often been picked over by other investors.
Michael talks about how he prefers to call his short-term rental business "little hotels" or vacation rentals.
He explains that the systems he developed for single-family homes work at scale for boutique hotels, such as using the same locks, cameras, and property managers.
Michael gives advice for those interested in getting into the boutique hotel industry and provides a link to a deal analyzer world to help with investment decisions.
Mark encourages listeners to check out Michael's Instagram account for more information.
00:18 - Intro
02:05 - Michaels "Uber Pitch"
05:05 - Did you find out the stay
10:03 - Talking about the tech stack
14:45 - Laundry question
21:11 - Google business listing importance
25:35 - What's that one bit of advice
28:33 - Outro
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14 окт 2024
