Join Duc and Steve as they chat with Mike Stohler about seizing opportunities through hotel investments. Mike is the co-founder of Gateway Private Equity Group, a hotel real estate investment firm. When the multifamily market shifted in 2016, Mike pivoted into hotel investments for higher returns and better value-add opportunities. And as Mike added to his hotel portfolio, he found ways to scale his real-estate business through hiring virtual team members in Mexico. Soon after, other real estate investors started asking him to help them find similarly qualified personnel, which led him to start Gateway VA. Mike So today, Mike shares how he helps other business owners enhance productivity by hiring highly skilled virtual team members through Gateway VA. There’s a lot to unpack in this episode, so stay tuned and enjoy the show!



Adapting to Change and Accepting Failure

With every downturn, people either adapt to the circumstances or go the way of the dodo. Mike Stohler, however, always picked up new tools and changed his strategies accordingly. And so, in this episode, we touched on how COVID impacted not only Mike’s daily operations but also his acquisition strategy and the tools he uses in hotel investing.



About Mike Stohler:

Mike Stohler is a former commercial airline pilot, Navy veteran, and co-founder at Gateway Private Equity Group, a real estate investment firm whose portfolio has included hotels, multifamily, and residential properties. Between apartment complexes, houses, and hotels, Mike has owned or operated over 1300 units. Seeking value-add opportunities and higher returns, Mike pivoted from multifamily to hotels and now focuses exclusively on this niche.



When Mike first started in real estate investing in 1999, he lacked experience and failed. However, he has created immense change in his business and life through committed action to learn, grow their skills, and help others.



Since his early beginnings, Mike has seen significant financial gain and wealth generation through powerful real estate investing. Passionate about the impact real estate investing has had on his life, Mike leverages his experience to help busy professionals generate long-term wealth through hotel real estate investments.



Outline of the episode:

● [01:06] How and why Mike Stohler started his journey to earn passive income

● [02:57] The difference between investing in hotels as opposed to multifamily

● [05:50] How someone with no experience can get into hotel investing

● [08:07] What types of hotels perform consistently regardless of market conditions?

● [10:09] How and why Mike structures his deal as open funded projects

● [13:06] Adapting to change and accepting failure as another lesson to learn

● [16:02] The impact of COVID on hotel investing and choosing project locations

● [20:43] Why consider getting into hotel investing when diversifying your investments

● [25:51] Evaluating the type of cost and work needed for hotel and multifamily investing

● [31:01] How to run a pro forma with numbers and trends changing amid the pandemic?

● [32:53] Looking into other thriving industries and responding to opportunities in them

● [35:42] Why having a team or mentor is essential in expanding your business?

● [37:25] The best book Mike recommends other than Rich Dad Poor Dad

● [38:42] His superpower of looking at every line of data and digesting it

● [40:09] The most significant lesson Mike Stohler learned over his career

● [42:06] His advice to achieve financial freedom for the busy working professional

● [43:38] How you can get in touch with Mike to learn more about him and his work



Resources:

●    Website

●    LinkedIn

●    Money Secrets of the Rich by John Burley

 https://www.millionairesmindsetblueprint.com/

Connect with The Cashflow Project!

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