2min chapter

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Mike (@TheRealEstateG6): Zero To One In Real Estate

Value Hive Podcast

CHAPTER

Is the Business Model as Good as Office?

There are a lot of things. I don't think the business model is as good, especially at the institutional level. The people you're dealing with, they're just very unsophisticated. There's also the other kind of added thing that we, the hotels didn't make much money anyway. Most of the money on hotels is on the management side, which is the carry side obviously. So like no one, no one makes insane money off that the office side. On the other hand, we were really plugged in the San Francisco market and it made a ton of sense just to move over to that side.

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