The Co-Host Bros 39 - Buying your first hotel w/Kyle Fugatt from Powerpath
Dec 4, 2024
Kyle Fugatt, a seasoned short-term rental and boutique hotel owner, shares his journey from small-town beginnings to hotel ownership. He discusses the essential steps for acquiring your first hotel, including effective negotiation and strategic renovations. Kyle emphasizes the importance of networking and understanding market dynamics. He also sheds light on financial readiness and tax strategies for real estate investments, making this a must-listen for aspiring hotel owners.
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Kyle's Real Estate Journey
- Kyle Fugatt shares his journey from electrical engineer to short-term rental operator and hotel buyer.
- He learned about real estate investing, flipped houses, and eventually bought and renovated his first hotel.
Make Firm Decisions & Negotiate Smart
- Make the firm decision to buy a hotel and follow through without hesitation.
- Use problem-solving in negotiations to create win-win deals and maintain relationships for future opportunities.
Network Vital for Hotel Success
- A robust network and masterminds are critical to navigate unknowns in hotel purchasing and renovations.
- Many learning gaps exist, so reliable expert guidance speeds progress and reduces costly mistakes.
