Patels own 70% of the hotels in US, Canada and Britian and a good chunk in Europe, they are one of the biggest business men in Africa in every African country and the funny thing is they all start from scratch. Really interesting group of people.
Yes, I've actually sold hotels where the owner agreed to take a lower sales price because they wanted to do seller financing. That way, they'd have continued passive income cash flow without the work or risk, could delay their capital gains taxes and they knew the asset, so they felt secure as long as the down payment was sufficient. It can be a win-win for everyone and is especially attractive for older sellers that are ready for someone else to take over day-to-day operations. Good luck with whatever you do! @@lydiapatelll
The seller of a motel just accepted and signed my offer. I am currently looking for financing and investors. My first offer was to do 50/50 partners with the owners and I would take over operations but they didn't like that option.
Dumb question maybe but would it have been better to have the investors lined up before making an offer? What happens now if you can’t get funding in say, 6 months? Will the sellers keep waiting?
Very nicely done! I enjoyed watching this and you gave quite a bit of information. I sell hotels, mostly in South Florida and was impressed with you detail and analysis. .... I'll look forward to seeing more. #TheHotelBroker, Rick Tobin, Premier Hotel Realty
Interesting! I’ve worked at a few different hotel brands during and after college (both large franchises and boutique) while the franchise fees and renovation requirements may be high I think the brand reputation and systems outweigh the cost. I know when I travel I tend to book with the brands I’m familiar with. Motels often have an owner that is also the operator whereas the franchised hotels tend to have ownership groups, when you get into the larger hotels with additional amenities they each of their own departments and managers but everything is really tied back to occupancy and groups/events It was interesting working at a variety of hotels with completely different clientele and operating procedures
Fascinating! Larger hotels seem much more complex for a beginner to get into. I agree with what you mention about brand reputation. And as a traveler i also factor in points and loyalty perks. :-)
not sure i can help, i am definitely still learning myself. talking to other hotel owners and/or looking at what's for sale in those markets would be where I would start in your position. best of luck!
You can invest as much as you want ... or start off small. It depends on your capabilities and risk tolerance. A small roadside motel could be inexpensive, but may have maintenance issues. Exterior corridor properties are out of favor and will go cheaper ... but you'll sell an maybe rent cheaper too. There's a lot of factors. Loopnet and Crexi will have listings that you can look over. Talk to the owners and/or listing agents ... a lot, to learn more!
Patel as a last name? Its funny, just was a video from Devonna Reves where she says, 50% of the hotels in the USA are owned by Indians. Good stuff, as they do work hard. So, yeah, your hubby maybe an indian as well. Off the topic, am looking to do the same but downunder in a few years, hemce am here getting pointers. 🎉
I think the percentage of hotels & motels in the U.S. owned by Indians in 2023 is closer to 70% than 50%. And more than 75% of those Indians have the last name Patel. And 100% of them have come from the Indian state of Gujarat. It is truly mind blowing. The equivalent would be like some extended family or clan from Western Australia owning 70% of the hotels in Europe.
Patels own 70% of the hotels in US, Canada and Britian and a good chunk in Europe, they are one of the biggest business men in Africa in every African country and the funny thing is they all start from scratch. Really interesting group of people.
Love your explanation for a lot of things within the motel/ hotel business. Appreciate the content.
3rd. Option for loans - seller financing. Owner of the motel can hold the note and buyer would make payments to seller.
Yes! Thanks for adding this
Yes, I've actually sold hotels where the owner agreed to take a lower sales price because they wanted to do seller financing. That way, they'd have continued passive income cash flow without the work or risk, could delay their capital gains taxes and they knew the asset, so they felt secure as long as the down payment was sufficient. It can be a win-win for everyone and is especially attractive for older sellers that are ready for someone else to take over day-to-day operations. Good luck with whatever you do!
@@lydiapatelll
You are so smart, Lydia! Thank you so much for sharing your knowledge with us :)
😅 that is too sweet. Happy to share, I was going to ask them and learn anyway!
GREAT VIDEO! Where do you find these hotels?
This is a super interesting video! Thanks for explaining the motel industry
Thanks for watching!
I'm so happy I found your video ❤ is exactly what I was looking for. Thanks 🙏🏼
Glad this was what you needed! Thanks for watching
She is patel no one can beat her😮
🤗 This was great. I’m loving your content!
I've worked with Hotels and Real Estate and I can say this model of business is a virgin market in South America for digital nomads travelers.
The seller of a motel just accepted and signed my offer. I am currently looking for financing and investors. My first offer was to do 50/50 partners with the owners and I would take over operations but they didn't like that option.
Dumb question maybe but would it have been better to have the investors lined up before making an offer? What happens now if you can’t get funding in say, 6 months? Will the sellers keep waiting?
Very nicely done! I enjoyed watching this and you gave quite a bit of information. I sell hotels, mostly in South Florida and was impressed with you detail and analysis. .... I'll look forward to seeing more. #TheHotelBroker, Rick Tobin, Premier Hotel Realty
So informative! Thank you!
Thanks for watching!
Interesting! I’ve worked at a few different hotel brands during and after college (both large franchises and boutique) while the franchise fees and renovation requirements may be high I think the brand reputation and systems outweigh the cost. I know when I travel I tend to book with the brands I’m familiar with.
Motels often have an owner that is also the operator whereas the franchised hotels tend to have ownership groups, when you get into the larger hotels with additional amenities they each of their own departments and managers but everything is really tied back to occupancy and groups/events
It was interesting working at a variety of hotels with completely different clientele and operating procedures
Fascinating! Larger hotels seem much more complex for a beginner to get into. I agree with what you mention about brand reputation. And as a traveler i also factor in points and loyalty perks. :-)
really well expained❤❤
Thanks ❤️❤️❤️
I want to do hotel business.
I want to buy a 70/80 rooms hotel. Looking to buy a hotel in North Carolina or Tennessee.
How much should I invest?
not sure i can help, i am definitely still learning myself. talking to other hotel owners and/or looking at what's for sale in those markets would be where I would start in your position. best of luck!
You can invest as much as you want ... or start off small. It depends on your capabilities and risk tolerance. A small roadside motel could be inexpensive, but may have maintenance issues. Exterior corridor properties are out of favor and will go cheaper ... but you'll sell an maybe rent cheaper too. There's a lot of factors. Loopnet and Crexi will have listings that you can look over. Talk to the owners and/or listing agents ... a lot, to learn more!
Nice video. Thanks!
Great video, thank you 👍🏽👍🏽👍🏽💯💯💯💯
Patel as a last name? Its funny, just was a video from Devonna Reves where she says, 50% of the hotels in the USA are owned by Indians. Good stuff, as they do work hard. So, yeah, your hubby maybe an indian as well. Off the topic, am looking to do the same but downunder in a few years, hemce am here getting pointers. 🎉
Haha good eye 😉 there’s some truth to the stereotype! Best of luck in the other hemisphere!
I think the percentage of hotels & motels in the U.S. owned by Indians in 2023 is closer to 70% than 50%. And more than 75% of those Indians have the last name Patel. And 100% of them have come from the Indian state of Gujarat. It is truly mind blowing. The equivalent would be like some extended family or clan from Western Australia owning 70% of the hotels in Europe.
motels are 24.7 business. You have to keep them clean and upkeep
thank you
lovely
Music was loud....you need to keep it really really mild though
noted
🔥🔥
Just one word PATEL 😂😂😂
There should absolutely be regulations, I would agree.
She’s Patel that’s it
and now, thanks to the internet, you also have the same access to this info!
Nothing to do with the video. But I like how the thumbnail is subtly trans lol