EP 32: How I Bought A Hotel Without Any Money The R.E.A.L. Wealth Formula podcast

EP 32: How I Bought a Hotel Without Any Money

3d ago 53:14

Content provided by Brad Hovis. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Brad Hovis or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Discover how to buy a hotel with no money down. Brad Hovis shares the incredible story of his Hotel Frisco deal, where he turned a creative finance strategy into over $2 million in profit. He reveals the exact steps he took, from leveraging creative finance to overcoming unexpected challenges. This episode offers a candid, detailed look at a high-stakes real estate investment, including the financial proof. Learn about the mindset, risks, and massive rewards of thinking outside the box in commercial real estate.

Key Takeaways

Creative Financing: You can acquire real estate without using your own money. Strategies like lease options and unsecured hard money loans are viable options.
Control vs. Ownership: Brad's strategy focused on controlling the hotel through a lease with an option to purchase. This allowed him to manage and improve the asset before fully owning it.
Identify Problems, Offer Solutions: Brad recognized that the hotel had a revenue problem and a rooms problem. He proposed solutions, like leveraging third-party booking sites and converting staff housing into additional rooms, to the owner.
High Risk, High Reward: This deal involved significant risks, including taking on unsecured debt, maxing out credit cards, and facing unexpected construction and legal problems.
Profit from Profit: Once the hotel became profitable, all subsequent expenses, including construction costs and legal fees, were paid for using the hotel’s revenue, not Brad's personal funds.

Resources & Links Mentioned

Social Media Channels

35 episodes

Key Takeaways

Creative Financing: You can acquire real estate without using your own money. Strategies like lease options and unsecured hard money loans are viable options.
Control vs. Ownership: Brad's strategy focused on controlling the hotel through a lease with an option to purchase. This allowed him to manage and improve the asset before fully owning it.
Identify Problems, Offer Solutions: Brad recognized that the hotel had a revenue problem and a rooms problem. He proposed solutions, like leveraging third-party booking sites and converting staff housing into additional rooms, to the owner.
High Risk, High Reward: This deal involved significant risks, including taking on unsecured debt, maxing out credit cards, and facing unexpected construction and legal problems.
Profit from Profit: Once the hotel became profitable, all subsequent expenses, including construction costs and legal fees, were paid for using the hotel’s revenue, not Brad's personal funds.

Resources & Links Mentioned

Social Media Channels

Podcasts Worth a Listen

The R.E.A.L. Wealth Formula Podcast « »
EP 32: How I Bought a Hotel Without Any Money