GI154: Investing in Hotels and Multifamily with Michael Stohler

Michael Stohler first started in real estate investing in 1999. His company has a portfolio that includes hotels, multifamily, and residential properties

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Announcer:
Welcome to the Global Investors Podcast, a show that focuses on helping foreign investors enter the lucrative US real estate market. Host, Charles Carillo, combined decades of real estate investing experience with a professional background in international banking to interview experts in all areas of US real estate investing. Now here’s your host, Charles Carillo.

Charles:
Welcome to another episode of the Global Investors Podcast; I’m your host Charles Carillo. Today we have Michael STOW-ler. He first started in real estate investing in 1999. His company has a portfolio that includes hotels, multifamily, and residential properties. So thank you so much for being on the show, Michael,

Michael:
Thank you very much. It’s I’m it’s a pleasure to be here.

Charles:
Awesome. It’s great to have you on so give us a little background on yourself, both personally and professionally prior to getting involved in real estate investing back in the late nineties.

Michael:
Yeah. Yeah. I come from small town, Indiana where there’s nothing to do, but you know, bale hay and <laugh>, you know, watch the corn grow. And you know, traveling up to Indianapolis, the big town, you just look at these houses and things like that. And you just figure out, I said, man, what did these people do for a living? And, and, you know, found out a lot of ’em were in real estate. So I was like, well, you know, let’s do it. And I picked up as everyone does rich dad, poor dad and read it and decided it’s like, man, this is it. So I went to a seminar just like probably everyone else’s second step. I can step and said, oh, this is easy. So I went back to my small town and bought I ended up buying eight units and that’s when it all went, started going crazy because here’s the thing, you know, in seminar land, they tell you it’s like easy, you know, here’s how you buy it.

Michael:
But you know, if back in the late nineties, small town, Indiana, we didn’t have Google. I don’t even know if Google was around there. I think it probably was, but you know, you don’t have laptops, you don’t have that type of stuff. So I could not, there’s no podcast, there’s no mentors, there’s no coaches. I did not know how to be a landlord. I didn’t know what lease was. I didn’t know what it looked like, you know five day notices, you know, how do you evict people? I, I didn’t know anything, you know, the, the buying part was easy. So you know, you probably get a lot of get rich quick and, you know, you can be a millionaire and, and you, don’t probably don’t get a lot of the sob stories and, and the real truth stories, but man, flamed out big time.

Michael:
And that was my first start in, into the real estate. You know, we had to give those, give them all back fast forward. You know, I, I knew that that was it. I knew that that was the way to do it. So in thinking outside of the box, how could I get that knowledge? How can I get that experience to make it work the next time? So I actually went to work for a property management group. So I figured, you know, it was a private family that owned around 8,000 units. Wow. And I figured, you know, they know what they’re doing. So I went to work for them, stole some paperwork <laugh> or borrowed, you know, <laugh> some paperwork. So it was like, oh, okay. That’s what a lease looks like. This is what it meant, you know, the addendums and this is how you do it. And I, the evictions and learned a lot. But it took us a little while to get out of our financial hardship. I ended up being an airline pilot. That was my career and airline pilots make decent money. So then we decided to let’s get back into it and boom, it was off and running. Nice. So that’s kind of the quick background.

Charles:
Awesome. So kinda give us an idea of what your current investing strategy is. You went from like a residential multifamily mm-hmm <affirmative> and a few years back, or several years back, you made this switch into hotel investing. So can you explain your strategy now when looking for properties and after you acquire, ’em like how that all works.

Michael:
Yeah. So what happened back in let’s see here five years ago. I had a guy, well, it was, it was a group out of Idaho of all places that was looking at a multifamily of ours in the Phoenix area. And it was performing. I did not wanna sell it, but they kept coming, coming, coming back and coming back. And, and fourth time I said, no, you know, I’m making six figures off this thing don’t wanna sell it. But then they came back said, last here, I’m gonna give you this amount. And I’d be fool to say, no, you know, I had it for, I had that particular property for 10 months and I think we netted almost seven figures, like eight, $860,000 in 10 months. So I was like, I’d be full not to do it. Right. Well, at that point, I didn’t wanna be buying another multifamily at, at three and a half cap.

Michael:
So I was like, what do I do? You know, it’s like, and again, you know, for all your listeners, you know, how do you get to know people? You go to your local, R you go to all these different events and networkings networks. It’s all about who, you know, I knew a guy that had about 15 years of hotel experience, so got with him. And how do you bust into something, an asset class that you don’t know about? You don’t have any knowledge. What I did was I offered him. I said, I want you to find me a property. You’re gonna teach me how, how to do it and what you’re, what you’re doing. You’re gonna run it for me. You’re gonna teach me everything, you know, and in doing so I’ll give you an actual piece of the ownership as, as, as your hardship.

Michael:
And he agreed to that, you know, cause I wasn’t paying him a salary to run the operations. I was giving him a little bit of property management fees, but then the big thing is I got an onsite mentor to teach me about hotels. And I gave up a small portion, you know, at the end, as far as ownership and boom got into hotels. So another thing, you know, what are we doing now? We’re doing funds you know, some syndications and we’re so heavily invested in, in the hotel space and going to be in the future. I think it’s, it’s an underserved asset class that people here’s the thing. And when people say, oh my God, COVID hotels. I’m not gonna get, get in hotels. That’s when you buy hotels, right? Yeah. You don’t go and say, yeah, you know, it’s like you go to these re meetings and everyone wants to be in multifamily.

Michael:
That’s when you don’t invest in multifamily. Cause we can, we don’t really do cap rates, but you know, if we did convert it, we’re still getting nine, 10% in, in hotels, you know, on up instead of three, three and a half right now in multi-family COVID has really changed the way that we look at hotels and what type of asset class within the hotel space. And when we do hotels, it’s not a three year, like a lot of multifamily, like kind of a three year old or even less cuz remember hotels is a business. It’s not just, it’s not really real estate. It’s a small business that sits on real estate. So there’s a lot of things to do in order to get those things going again. And, and the, the gross fund, you know, the gross income multipliers up and all of that. So they’re usually five 17 year holds, you know, it’s, this is a, we call hotel investing patient capital, patient investing. These are long term, get the dividends, but their long term holds

Charles:
Interesting. So what are the main differences between investing in hotels for multi-family? And I say this in the sense that, you know, you’re looking for multi-family and you have an idea of markets, you have an idea of what I wanna see in the neighborhood. What do you, when you go, someone sends you over a offering memorandum mm-hmm <affirmative> to invest into something that’s for sale for hotels. What are the first 10 minutes that you’re doing with that? What are you looking at?

Michael:
Yeah, yeah. If it is a franchise, I look at what, what it is the reputation of franchise. We only do franchise if, if we do an independent, it will attach it to a franchise. So I look at what is it? Is it Hilton, Marriott, raison? What is it? The second thing is what’s really, really important. Even more important that we learned during COVID is what’s called the drivers. What is driving someone to that hotel pre COVID? I wouldn’t use like one driver. Well it’s next to university. You can’t go wrong there, right? Well, unless no one’s going to school and no parents are going to visit the kids in school and you’re, you don’t have a very good asset anymore you know, skiing or, or, you know, whatever. So we look at now multiple, at least three drivers. Why are, are you going, you know to this hotel, is it off of a, an interstate?

Michael:
So you just need a place to stay at, you know, for the night it’s just off of the interstate. Is it maybe across the street from a hospital or maybe spring baseball training vacation. So there’s, there’s multiple reasons why you’re gonna visit that hotel. That’s the second thing I look at. If it’s only one, I’m not gonna touch it because COVID has taught us that that one thing goes down, you don’t have a hotel anymore. Right. some other things is the the comp set, the competitors that are around it multifamily really don’t need to look at that too much because you just, everyone needs a house. Right. There’s just a lot of places yeah. Need for those types of things. But I look at especially within my, like, if you do a choice hotel, well, if I do a quality in where’s the nearest comfort in where’s the nearest ones like it, or where’s the nearest middle, the road limited service type of hotels. So I look at the comp and I, and I look at the star reports. There’s a lot of different reports that you can get in the hotels. What’s the true ADR, the average daily rate. And then we look at, you know, then you just kind of break it down, but it’s, it’s different from multifamily it’s and then it’s, you’re running a business. So you have to look at it also as the, the vendors and all this sort of thing and, and kind of breaking down the business side of it.

Charles:
When you’re doing this, do you ever plan on changing flags? So if it’s a, a raison change it to something else, or if it’s something maybe not as nice to something that’s a little nicer of a brand mm-hmm

Michael:
<Affirmative> yeah. Great question. And yes, we do. Yeah. You know, we had a older best Western that we converted to if it was a choice hotel and when we do so, what we do is we look at, in that area does best Western do well do well. And then we also look at why is the owner selling? What could be that best? Western’s now coming in and saying, Hey, you need to do a million dollar, $2 million renovation because every, oh, every couple of years, there’s always something that the brand, the franchise is making you do furniture and the brands, you know, the sign, you know, it, it’s just, there’s, they’re always updating because they always want this nice experience. And then they want a lot of equilibrium among every single hotel that’s in that class. So if you have a radiant country in suites, whether you go to Phoenix or you go to Denver, they all kind of look the same. So it’s you E every guest knows what they’re getting into. And if there’s one that hasn’t been, they haven’t been doing it, they haven’t been updating it. It’s getting kind of old. It’s like, well, do I wanna spend $2 million doing the best Western? Or could I get a bigger brand, you know, choice hotels as millions and millions of followers and convert it to a quality cuz you know, and spend the same 2 million and get more guests, you know, a, a better rewards program for the, the experience.

Charles:
Interesting. And how does the financing vary between doing hotels and multifamily? What kind of financing terms are you guys usually finding and how was that? Or if it was, I imagine it was affected by COVID and get back to pre COVID now or not.

Michael:
Yeah, well, yeah. Good question. The first part, the biggest, you know, when you get into larger multifamily and you get into hotels, it’s a commercial loan. Right. the nice thing about what you have to remember with hotels is it’s a business so I can get SBA loans. Okay. Small business administration. So I’m getting seven a loans I’m so I’m getting very low down payments, very low interest rates. And so it’s, they’re much better, but now you’re capped at I think it’s still, I don’t think Trump changed it, but I think it’s still like a 5 million cap. So you have $5 million to play with at two point some percent interest and lower down payment. So you have to have find those banks that deal with those, those types of loans. So it’s very nice. As far as COVID goes, yeah, your, your normal banks really, aren’t going to touch the hotel loans unless you’re talking about, you know, $40 million, $50 million, you know, the legacy banks just don’t like smaller individuals than anything probably multi-family and hotels also.

Michael:
But you look at community banks that really want to, they come in and those are our favorite, our, our best friend at the smaller community banks that says, yeah, Mike, you know, we’re trying to get into this market. We’re trying to get this market. You have experience well, you know, we’ll give you 8 million loan or something like that. And they’d rather do the SBA, you know, or some type of a federal guarantee, but that, that, you know, that’s what we look for. And then I forget in multifamily, it’s been so long since I did my first loan. But they require, and that’s why I did my, this, this partner on it, you know, they re they require more experience because it is a business.

Charles:
Yeah. Interesting. Yeah. That’s something very interesting about the community bank. Cause I tell people that multifamily as well especially because in a community bank, obviously you have people that might be making the decision that drive by the asset that you’re trying to acquire and reposition every day on their way to the office. And it might be a small team, like be three people that make the decision. Mm-Hmm, <affirmative>, you know, you’re, you’re going to this large bank, I’m not gonna name anybody. You go to a large bank and there’s a investment decision, you know, a group that you never talk to. You’ll never see, they’ve never even been to the town that you’re trying to get financed in. Right. Right. And unless it’s, unless it’s, you know, nine figures or something, you know, whatever it is, eight figures, they don’t care about it. And they’re just like, you know, we’re just we, we need to make you know, we wanna make loan more money and on bigger projects, but

Michael:
Very interesting. And that’s true, you know, cause I remember getting, trying to get a loan and in, in Arizona and the decision makers were in Seattle and all they did was the guy Google mapped it <laugh> and saw that there was like cars in the backyards of the neighborhood behind us. And he just immediately said, no, this is like the most horrible neighborhood. And we’re like going, wait, you know, this is Arizona, this is just what they do. You know, there’s cars in the backyard, you know, and chickens, you know, I mean it is just, you know, you might seem some goat chickens in a couple cars in the backyard. It’s just that type of neighborhood. And the asset though is what you want. It’s a hundred percent full, but he just, he Google mapped it and said no

Charles:
Thorough underwriting on their part. Right. Thorough. Yeah. <Laugh> I think of something like that is they just don’t wanna make the loans. So they’re just coming up with the first thing that their assistant finds and tell you about it. Yeah. But well, one last thing before we get into one other part I wanna finish up with, but how did your hotel portfolio far during COVID mm-hmm <affirmative> and when you, I mean, when we went through like mid 20, 20, are these banks that you worked with, were you able to kind of like work with them on loans? I imagine there was a lot of that. Did you find ’em pretty easy to work with and there’s some banks that maybe didn’t and you won’t do business with them again.

Michael:
Yeah. So in 2020, all our hotels stayed open another great advantage of hotels over multifamily is this might sting a little bit, but you know, I did, I didn’t have the federal government tell me I couldn’t collect my rent. Right. <Affirmative> right. But luckily my hotels are in states where the governors didn’t tell me I had to shut down. And so that is one of the things that I look in the future. It’s like, okay, when I do some future acquisitions, if’s not going to be in a state that if something happens, boom, everyone has to shut down everyone, no matter what, no matter how mild or, or severe. And you know, I’m not COVID at all, but I want the choice whether or not I need to, you know, can shut down or not. And it there’s a lot of hotels, a lot of small business owners, mama pops that will never survive because certain state governors force them to close.

Michael:
So one thing that we are able to get is because we’re small businesses is we, we were able to get the PPP loans which is payroll protection and the E I D L the disaster loans. So that allowed us to, you know, have a lot of capital and help with payroll. So we were able to, to stay open the hotels that did well are the limited service. And then the extended stay. It’s the ones that concentrate, you know, we’ve got three restaurants, we’ve got, you know, 10,000 square foot of conference space. They did, they, none of that was happening. So you had all that square space that didn’t do well. The banks did were very well, you know, they, they helped us out a lot, you know four or five months of deferment plus because it was an SBA the federal government stepped in and said, you know what?

Michael:
You don’t have any payments. We’re actually gonna pay your payment for six months. No, even no interest, you know, it’s just like, boom, we’re paying your, your interest or your, your payment for six months. So, because we’re a business, we’re able to get all these different things and state grants and federal grants and all this stuff to help us. The banks that did not do well, the, the hotels that are not gonna make it are called ones that did the CMBS loan, a CMBS is basically the stock market. You know, it’s a commercial it’s a, it’s a market backed security. You can’t go to the stock market and say, Hey buddy, I can’t make my payment. Can I be deferred for four months? Well, they don’t have that, that type of, you know they, they just can’t do it. And plus on the CMBS loans, you can’t have a second. So they were not able to get a single PPP. They could not get any E I DL. They couldn’t do anything. So they’re 5, 6, 7 months behind them payments. And even though there might be a hundred percent occupied now or doing very, very well, they’re just, they’re too far behind. Yeah. Those are the assets that are getting ready to come in. And that we’ll, we’ll look at with our funds and syndications as, as buy those up. Yeah.

Charles:
Interesting. One last thing on the hotels before we kind of transition into a couple other questions management, I feel on multifamily or real estate in general, is it makes or breaks the deal. Right. So you’re going into it. I imagine you’re finding deals. I imagine these are you have to do some turnover in the business portion, right? The front office, let’s say mm-hmm <affirmative> how does that work? Like tell me, you’re hiring them yourself, who manage, manages that team. You know what I mean? Is that someone that you are doing, you, you know, that you have, that’s gonna mm-hmm <affirmative> they report directly to them like the manager from that, from that hotel.

Michael:
Yeah. So we have a, a team operations team that, you know, we’ll go in and we look at an asset. So in, in the hotel space, you have, what’s called a general manager.

Michael:
He’s the he, or she’s the person that does the entire hotel. And then you might have a front desk manager or a hospital like a housekeeping manager. Then you have maintenance people. You could have 1820 on up, you know, just depending on the size that many employees. So we go in and most of the time the general manager is gone. Okay. Because the type of hotel that we look at, something’s been going on, it’s an out-of-state owner. The GM’s been running it their way for four or five years. And the reason why we’re buying is cuz they did a bad job. So we’ll go in and bam go out, put someone in place. And then we basically interview everyone to keep their job, you know? And it’s not whether or not you’re fired or not, but we don’t know you.

Charles:
Yeah.

Michael:
So we interview everyone.

Charles:
Yeah. Yeah. That makes perfect sense. The general manager, I could see being the first one to go. And then you kind of go from there, you put someone else in that you know, knows how to manage a hotel and you know, you just kind of do a little job interview for everybody else through, so makes perfect sense. So one thing, Michael, that I saw that that I’m also, I’m a huge advocate of virtual assistance and you are as well. Can you explain how you utilizes, how to utilize VAs in your business, whether it’s managing your business or new and managing existing acquisitions or new acquisitions?

Michael:
Yeah. Well basically virtual assistance manage, manages my life. <Laugh>, you know you know, for all the investors out there, you’re going to get to a point where you need help in order to grow. It’s in every book it’s in every mentorship it’s in, every, everyone, there’s going to be a point where you’re working, you’re gonna wanna work in your business or on your business. Right. So you have to get to that point. And you know, for a lot of us, it’s like why can’t afford now 15, $20 an hour plus vacation plus, you know, withholds and vacation, all this stuff, all this crap that goes along with hiring people. So I utilize virtual assistance my virtual assistance. I, I loved it so much that I actually created a company called gateway VA. My virtual assistants are out of Mexico. I love Mexico because they’re basically on my time zone.

Michael:
Okay. They’re central time zone. I text them, they respond I don’t like the Philippines, you know, there’s nothing wrong with the VAs themselves and the workers themselves, but I don’t wanna get emails at two o’clock in the morning. I don’t wanna write something and then get the response at two o’clock in the morning. I want almost immediate. I, I have my own podcast. My, I have a, a virtual assistant that’s is in charge of my podcast. They schedule everything, they do my show notes, they do the bio. They, they basically do everything. All I do is look at my calendar like today, oh, I have a nine 30 o’clock podcast. And I didn’t really do a lot of it. You know, the interaction. They also input all my bills into like QuickBooks for the hotels, each individual, they just get all the bills and boom, they put ’em all in O N they just do every, all that remedial minimum wage type jobs. They do it at a third of the third of the cost. You know, these are college educated people that are smart, want to work fraction of the cost.

Charles:
Nice. So if someone wants to hire their first VA, like how do you suggest they go about it and what should they avoid when they’re doing it?

Michael:
Yeah. A good question. You know there’s two types of ways to do a VA and it depends on what you want. If, if you don’t care about having a single person now, you know, my VAs I’ve had ’em for several years and it’s one person they’re, they’re like my employee, but if you’re just looking for someone to call, you know, call lists and call, you know, tax lie and things like that, there’s two types of VAs. One is you’re gonna work through a company that handles a pool. They may have a hundred VAs working for them and you have this task done and you won’t get the same VA twice. Okay. You have that, you have to decide, is that what you want? And then they get a kick. You know, they may be paying the, the VA $5 an hour, but you’re paying them 10 and they get the VA gets five and, and the company gets five.

Michael:
And if you don’t want any personal type of assistant, then that’s the way they do it. The other type is like my company and, and like, you know, a lot of the others where you’re just paying me a one time finder’s fee. Okay. And then we guarantee, I mean, you’re going to do the interviews. You’re going to set up the job descriptions. You’re gonna do everything. You interview these people, you find someone that works for you, and then they become your assistant and you can have them for, you know, 90 days or five years, but it’s one person. And those people learn your systems. They learn how you do things. They, they learn everything about your business and they become your right hand person. That’s the other thing. And then what you do is you just pay them, like you’d be paying, I, I, I’m not gonna say like a regular employee because you have all these withholdings, but you’re gonna pay them directly. And I’m completely out of the picture. I just have that one time fee. And then, you know, we have a guarantee that, that they’ll work out, but those are the type of things. Okay. Just keep in mind, you know, what type of VA do you want and how much involvement do you want? You know, do you want just a pool people? Do you want an actual assistant? Yeah.

Charles:
Yeah, yeah. That’s great. The other thing too is I always say like, start with a couple tasks, cuz you’re not comfortable if it’s your first VA and then there’s then just kind of add on to it as you get comfortable with them. And by the end of the time, you’ll know, you’re like, wow, this person’s working like 20 hours a week for me. Like taking off all these things off my, off my off my plate.

Michael:
Mm-Hmm <affirmative> off my plate. But, and another thing is, don’t be picky about, you know, I’m paying them 40, do you know for 40 hours a week? And you know, I need to make sure they’re working 40 hours. It’s like, don’t worry about that because the, the pay for 40 hours is nothing. And all you care about is are they getting everything done that you want them to? Don’t be the micromanager with the virtual assistance.

Charles:
Yeah. It’s like property management. Yes. We know that somebody that’s gonna manage your property is not gonna do as good as yours. They’re not gonna do as fast as you, they’re not gonna do everything. That’s right. But what do you care if you’re paying someone a few dollars an hour and it takes them 25% longer? It, it doesn’t, it doesn’t really matter. It doesn’t matter. But Michael, so tell me about what common mistakes that you see real estate investors make.

Michael:
Oh boy. Yeah. Well, I’ve probably made all of them. <Laugh> don’t do it yourself is the biggest thing. Okay. Learn. You’re going to spend money anyway. All right. So you can spend money making mistakes, or you can spend money paying a mentor or reading books and doing it correctly. And if you pay the same amount and doing it correctly, then where you’re gaining is in time. It’s gonna take you a lot less time because if you pay the same amount and just keep making mistakes, you wanna learn from your mistakes, but I’d rather you learn from my mistakes. Yeah. Okay. And Charles mistakes and then do it correctly and you’ll be successful quicker. That’s the first thing, get a mentor. The second thing is build a team team is so important. I’d never go to legal zoom. <Laugh>, you know to get paperwork.

Michael:
I have an attorney, I have a, a, a CPA that knows real estate. I have, you know, the contracts attorneys. I, I have my eviction attorneys. I have my syndication paperwork attorneys. I have all these, this team. I have my assistant. So the first thing is find out. And then the third thing is, find out what your unique ability is. What do you love to do? Is it finding acquisitions? Is it maybe you love running the day to day? Maybe you like being the landlord, figure out what you like to do, because if you only do what you love to do, you’ll be more successful. My problem was, I got so bogged down in doing everything that I wasn’t growing my business. So if finally, in, in one of my coaching sessions, I need to start delegating, concentrated on my unique ability,

Charles:
So unique. Okay. And our second last question. What do you think are the main factors that have contributed to your success?

Michael:
Oh, good question. Analytics, I’m very good at analyzing deals. And when you analyze deals, here’s the thing is when you get into real estate investing, it’s no longer a personal decision. It’s no longer is it pretty, you know, it’s like the real, the residential real estate. Oh, it needs to have the granite countertops has to have, I don’t care what it looks like. Does it make me money? Okay. That’s the first thing that you have to really get down into it and don’t take anything personally, if you’re gonna be in multi-family, you’re gonna be called every name in the book. Remember this is a business decision and the fact that you’re evicting people in these things, don’t take things personally. It’s a business because if you took it personally and then no one got evicted, cuz remember if you slack on one person, they’re gonna talk to every 50 other, other people.

Michael:
Then everyone’s gonna say, well, you, they didn’t have to pay. I don’t have to pay. Then it just snowballs. So everything is a business decision. I’m sorry that you’re a single mother with three kids, but you haven’t paid me. You know? So make that, get that fine line of it’s a business decision and this is a business number three is why are you doing this? What is your purpose of investing in real estate? Mine’s not the money may, it may be at the beginning, but money will come for me. It is. And I have it above in my office every day I look at it. My goal is to build a life that I don’t need a vacation from. And that’s my mantra that I look at every day. So find out why you want to do this and why you want to be successful at it.

Charles:
I love that. That’s that’s great. So how can our listeners learn more about you and your businesses? Michael

Michael:
Website is gateway PE is in private equity gateway, pe.com. Find me on LinkedIn under Michael Stoler, S T O H L E R. And let me know how you found me and I’ll be be happy to answer any questions you have.

Charles:
Yeah. And on that website as well, just for listeners he has links to obviously his bill say investing business, but also to his VA business. So if you wanna learn more about that, it’s very interesting. And I wanna thank you, Michael, for coming on today and looking forward to touching base with you in the near future.

Michael:
Absolutely. Thank you.

Charles:
Have a nice week.

Michael:
You too.

Charles:
Hi guys! It’s Charles from the Global Investors Podcast. I hope you enjoyed the show. If you’re interested in get involved with real estate, but you don’t know where to begin, set up a free 30 minute strategy call with me at schedulecharles.com. That’s schedulecharles.com. Thank you.

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Nothing in this episode should be considered specific, personal or professional advice. Any investment opportunities mentioned on this podcast are limited to accredited investors. Any investments will only be made with proper disclosure, subscription documentation, and are subject to all applicable laws. Please consult an appropriate tax legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of Syndication Superstar, LLC, exclusively.

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Michael Stohler

About Michael Stohler

Michael 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 multi-family to hotels and now focuses exclusively in this niche. Key focus: Investing in current “unloved” hotel assets to generate powerful wealth

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

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.

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