How He Bought A Boomer’s Hotel and Transformed It Into Cash (Fast)
504 viewsover 1 year ago38m 13sScore: 80
The Short Term Shop
Growth & Marketing
intermediate
Multiple Properties
Revenue Management
Market Research
Profitability
Investors
Summary
Rich Somers discusses buying underperforming boutique hotels and converting them into profitable STR businesses. He emphasizes buying with a competitive advantage, stabilizing assets before further acquisition, and finding value-add opportunities in regulated areas. He also highlights the power of building relationships with brokers and lenders to access seller financing deals.
