When occupancy rates are low, it is normal to panic. However, when talking about hotels, the name of the game is marketing. In this Action Items episode, Wayne Ung discusses the practical steps to take to get started in hotel investing and the tools you need to make this business model work. Having a good network and positioning are the key ingredients to success in this industry. Join us and listen in!

Wayne Ung brings 20 years of general real estate management experience with hotel-specific management since 2013. He invests in and/or managed several hotels including properties in Columbus, Ohio, Tucson AZ, and Albuquerque NM to name three.

[00:01 – 04:28] Steps to Take for Hotel Investing

• Starting out with what you need to know experiences to have
• It is more on cultivating the business mindset
• Networking and expanding your network are keys

[04:29 – 10:20] The Credibility and Mindset to Cultivate

• Gaining credibility to take on a hotel deal
• The operations to implement in the hotel business model
• Cultivating the mindset of being a hotel investor

[10:21 – 11:27] Closing Segment

• Connect with Wayne!

Tweetable Quote:

“New hotel, the rate is $79… That's a professional person that knows how to do business. Because what he's doing is he's getting generating a lot of money by keeping the place even for $79. He knows that eventually, he'll get to profitability, he can go up the price. So that's really good marketing there.”  - Wayne Ung

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Socials and Links

Check out Hotel Capital Inc on their website!

Be sure to check out PassiveInvesting.com to learn how to build wealth through real estate!

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