Leere Motels zum Millionengeschäft umbauen

0:00Unternehmer/Gast I convert motels, hotels to apartments, extended stays >> Cool. >> across the Sun Belt states. Um on track for 14 million revenue this year. Small EBITDA, 2.1 net. Um real estate, high OpEx. >> Sure. >> Um would like to be at around a 30 million >> Do you have LPs or are you funded at all? >> Yeah, we have a Reg D 506 C fund. >> Okay. >> We partnered with a key man who's now kind of kind of key man risk, good friend of mine, Richard Wilson of Family Office Club.

0:28>> Okay. >> Um What I want to do next is create a hotel brand. >> Okay. >> Specifically on the adaptive reuse side. >> Okay. >> Cuz you have all these empty, garbage, crappy hotels, motels. >> Yeah. >> And they don't want to pay the PIPs that Marriott, Hyatt, Radisson want them to pay. So, I can come in and say, "Look, I'll take over. >> Yeah. >> I'll take care of all your operations. Don't worry, I figured all that out. I'm on my umpteenth property.

0:57>> Sure. >> Um here's what I just need you to do. The issue with that is I'm battling a lot of other buyers and >> Uh-huh. >> it's hard to get in. It's hard to be uh the first guy that sees the deal, right? Um the gatekeeper of these properties are brokers, agents. >> Yeah. >> So, that's what's stopping me. I I believe I know what I need to do, but I I I need a little bit more validation and get over my analysis paralysis, but I believe I need to be that thought leader in this space.

1:24>> Okay. >> And if I My thought is if I am the thought leader in this space, they'll kind of come to me. You know, before the key man was raising all the capital. Well, now I'm raising all the capital. >> Okay. When you say they'll come to me, who? >> Uh those who have hotels, motels that want to convert them into apartments where I can buy them. >> the investor side, but the CEO >> The actual Yeah, I need pipeline. Correct. I need I need a pipeline. >> Okay. >> Um pipeline problems all day long for me.

1:50>> Okay. >> So, I I feel if I have a channel or some sort of content distribution and it's a blue ocean strategy. In fact, there's only one other guy in here that's actually doing something similar to me. I don't know where he's at, but I just spoke to him. There he is. Anyways, you're on his podcast. So, um that's what I believe and I kind of want that validation. >> Well, I'll I'll zoom out for a second before giving the immediate like cool, which is the problem that we're solving is just deal flow, right? And so kind of like I was saying earlier, like thought leadership is a path. It doesn't have to be the path. If it's the path that you want, cool. But when I think about this, I think about um basically what is the the highest reward, lowest risk way of accomplishing whatever the problem is, right? Um and so for you, if or if I'm picking for anybody, it's like what is your existing skill set and what has the highest overlap with that skill set so that I have the highest likelihood that's going to work. So, if you were like, you know what? I've done face-to-face forever, that's why it's I go, you know what?

2:49Let's let's let's do the the conference strategy as as a as a good as a good strategy for the fundraising. If you're like, I understand media, I like social media, I want this like deep inside my heart, then I'd be like, well, I'm not going to stop anyways, you're going to do that anyways. Uh so, go go do the quote thought leadership and make content. Um if you had a if you know, if Ashley was here and she was like, you know what? We're going to I know how to run ads for you, then like if that was your background, I'd be like, well, let's just run the paid side. So, like you could absolutely run an ad that just says, "Hey, if you're a motel owner and you're looking to sell, um I'd love to talk to you." And you can just generate leads that way. It works fine. Like I was looking at I wanted to do um a deal in the payment processing space like a year and plus ago. Maybe some of you guys saw this, but like uh I ran ads just for like, "Hey, payment processors doing between 30 and 300 million a year, like let me up if you're like interested or whatever." And I think we got 13 qualified companies for $6,000 in spend.

3:41Like on the phone, which is absurd, right? If you think about it from a deal flow perspective. And so I only say that um this is going to be worth explaining. >> So, let's let's not use a red mountain. That's a little bit bloody. Let's go blue mountain here. All right. Blue ocean, blue mountain. There we go. All right. So, we have our, you know, big prize and let's assume that it's money for the sake of this conversation.

4:09Um there's going to be, you know, this way and then there's going to be this way and then there's going to be this way. All of them get up the mountain. And so, I think where the quote analysis paralysis kicks in is that you're like, which one is best? And I call it the fallacy of the perfect pick. Is that you think that there's a perfect pick and there just isn't one. There's trade-offs on all of them.

4:34Like you're going to be in the the where where you get in trouble is where you well, the there's two big places you get in trouble. One is here at the base of the mountain trying to figure out which one to do and then you spend a year there when a year on any of them on the low side you could have been here on a year here versus a year here. You could have been up the mountain further than you are here just cuz you waited. And the thing is is that the longer you the wait at some point you would have literally got to the top of the mountain on any of them. But the waiting was the cost.

4:59The second part where you get in trouble is here or here. Where you're like, you know what? This other path, you know, kind of looks a little bit different than this one and it looks like that one also goes up the mountain. And that one looks less steep. So, then you go over here but you're like, [ __ ] this one's less steep but it's slower. Or you're on the other one that's slower and you're like, but this one's more steep and then you get there you're like, [ __ ] this is way steeper. And so, there's always trade-offs that happen in any of these paths. But if you want to be a you know, a thought leader, um just just recognize that it's going to take time.

5:29Alex I would say give yourself 18 months before you determine whether or not this is a good idea. And you have to commit to that. Like when I started YouTube, the vendor that I had, um he made a video about it. Um the first call I had I said, I'll do this for 10 years and if after 10 years it's not working, I'll stop. And he was like, in my entire history, I have never heard anyone say that. He's like, it's all like, how do I get leads in 90 days? And so, the fact that you're in a business that is capital aggregation and you're in your but like you probably do have a longer time horizon anyways, just going to the nature of the business.

6:00Alex Um but I would encourage you to if you are going to do the quote thought leadership thing, stick to what you know. Don't try and be the next Gary V or the back next me or the next whatever, cuz like you're not going to beat me at being me, but you will beat me at being you. And so, I would just like only talk about the things that you have the track record for, and that will that will necessarily narrow the content that you talk about. But the thing is is that social media, you probably heard this, has shifted to probably interest-based media now with interest graphs with the algorithm. And so, if you want those types of leads, you have to make that type of content.

6:33And the thing is is the algorithms are getting so good. Like my if you look at my discover page, it's just metal fabricators. And um I was going to say gym equipment, so it's gym equipment, too. Uh and comedy. Those are like that's what I consume. I consume gym [ __ ] gym equipment, and I consume comedy. That's that's my whole thing. And the thing is is that metal fabricators are notoriously bad advertisers. And so, on my discover page are like 13 like videos of metal fab guys being like, look at this cable accessory I just welded. I'm like, this is cool.

7:02Alex It gets served to me because I'm that audience. And I'm a I'm a great lead to have uh for that stuff. But like just don't be afraid if you see you have like 100 views. I see tons of videos that have 100 views, 200 views, 500 views, and I'm exactly who they want watching. And so, if that guy that metal fab shop guy was like, you know what, you know, six things about marriage. I'm like, I don't [ __ ] care. Like why do I care why am I listening to this guy, right? I I just want to buy metal metal stuff. So, just show me the metal stuff. Um and so, I would just say like if you are going to do the motel thought leadership stuff, stick to that.

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