If you look at the reviews, they all mention our staff. And it makes me a little bit scared for the day when they leave. But I mean, just because I think staff is the best thing about hospitality, it's also the most challenging thing about hospitality. It's, you know, you're constantly dealing with HR issues and like keeping people happy and creating a great company culture. And it's very fulfilling, but also very challenging.

And I think it is probably the hardest part about running a small staffed hotel.

Welcome to the Rich Strummer's Report where we talk real estate, business, and wealth building,

all while keeping it real. No fluff, no BS. I hope that you enjoy the show.

Yeah. Real. No fluff, no BS. I hope that you enjoy the show. All right, guys. Welcome to another episode of report. Today, we got a good friend of mine in town for podcast number two. I got a repeat guest and we are going to be dropping so much game. I got Soli Kai Tano back in studio. What's up, Solie? How are you? Hey, Rich. Good to be here. Yes. It's been a little bit. And, man, always good to catch up with you. So many things that you've been doing. And I remember we first connected with Bigger Pockets conference out San Diego. And we did a yacht party.

We did a yacht party.

We did.

We co-hosted it. That was super fun. And the last time I was here was, I think, about a year ago, maybe more than a year ago. Yes, it was more than a year ago. It was last spring. Just were maybe about to buy a hotel. Yes. You were about to buy a hotel. and since you have closed on a 13-room boutique hotel out in Palm Springs, California.

Oh, my gosh. You are about to buy a hotel and since you have closed on a 13-room boutique hotel out in Palm Springs, California.

Oh, my gosh.

That is so cool.

How's the project going?

We're officially open.

So I'm really excited to watch like my past podcast and see how I talked about the vision and the numbers and compared to like what we're about to talk about today.

So we bought it last June, 2024. and then we officially opened in January of 2025. So it's been about six months of

operating and it's been, I don't know, it's been really cool. I mean, we, we just won Travel and Leisure

It List top 100 hotels in the world. And so there's been a lot of things that have like, it's beyond my world, the streams, the reception of this hotel. And it's made me very excited to go buy more hotels. Yeah, I can't wait to dive in because I feel like when you get into the hotel game, it's like, I tell people all the time, I'm like, guys, like just start with a smaller deal. And the biggest mistake I see is people try to get in. They try to go take down these larger

deal. And the biggest mistake I see is people try to get in. They try to go take down these

larger deals. And then they can't raise the capital. And they're like, they're in over their heads. And then they never end up taking action. And I'm like, just start small. My first hotel that we bought was 10 room. It was very easy to wrap your mind around.

Where was it? It was up in Shelter Cove, Black Sands Inn, up in Northern California,

right on the beach, gorgeous Black Sand beaches, hiking trails. But it's a 10 room, beachfront hotel, bought it for 1.5 as them change from a mom and pop seller with seller financing. And it was very, very easy to wrap my mind around, got us in the game because you don't know what you don't know. And like you got in the game and I'm sure like your perspective on the hotel game is definitely changed, which we'll talk about here. But now you're in the game and now you have a clear understanding of like what you like and don't like. And now you can figure out what the game plan is, what direction is for asset number two,

and then you go attack it.

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