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281: Should We Be Buying Hotels Yet?
Podcast: Download
There is a saying, “People grossly over-estimate what they can accomplish in a year and grossly under-estimate what they can accomplish over five years.”
As I write this to you on my 48th birthday (September 8th), I look back on the last 5 years and it’s hard to argue the point. Five years ago, this podcast did not exist.
Today, Wealth Formula Podcast gets about 25K-30K downloads per month and we have an Investor Club with over 2000 members that control over $800 million in assets.
I am in awe of what we have created together. But the bigger lesson here is that even though it may not seem like it, all the little things you are doing now DO make a difference over time.
If you don’t like change, you are out of luck. Change is inevitable in life. You can either fight it or guide it in the direction you want to go.
The same can be said about investing. The type of investing we do in our community requires planting seeds today and waiting patiently for a few years in most cases. Just think about those people who sat on the sidelines over the past 5-6 years while Western Wealth Capital delivered average annualized returns of over 30 percent to its investors. Indeed, time IS money.
Understand that investing in real estate requires some level of faith. You can’t track your net worth daily on an app. However, once you are in it a few years, you start to see things come to fruition in a big way. Once you’ve been through the cycle a few times, it really gets exciting.
But again, the choices and investments you make today are for 3-5 years from now. The longer you wait to start, the longer it will take to get results. It’s time to get off the sidelines.
While you take action today, it is also important to keep contemplating your next move for the future. In my case, I have been interested in the hotel industry for a while and have been collecting data and looking for the most opportune time to get involved.
On this week’s Wealth Formula Podcast, I reconnect with hotel broker, Steve Usher, to get an update on the hotel investing landscape. Listen in as I get the scoop on whether it’s time to buy!
TITAN Hospitality was founded by Steve Usher. Prior to starting the company, Mr. Usher was the Pacific Northwest Representative for CB Richard Ellis’ National Lodging & Hospitality Services Group in San Francisco. He serves on the Board of Directors of San Luis Obispo-based Martin Resorts and is a licensed California real estate broker.
Shownotes:
- How have the markets have changed since the last time Steve was on the show?
- Different kinds of hotels that people can invest in?
- Possible barriers to success for independent owners who are not franchising
- Types of things are good for a buyer to consider before going into the hotel business
