Hey guys in today's episode we're going to talk about how to start a boutique hotel business

we're going to talk about why hotels how much they cost how to run it and even how to

find partners to fund your own deals for anyone that doesn't know who I am, my name is Rich Summers.

Five years ago, I was working full-time

as an air traffic controller, controlling airplanes.

I didn't know anything about real estate.

I didn't know anything about business.

And today, I own four boutique hotels in a fund and control $80 million of real estate between apartments, air bambos, and boutique hotels.

And I will say that it's completely changed my life in the last five years and the ability to get into real estate investing and py real assets and produce income, cash flow and financial freedom has been second and none. So I so super excited to share a lot of my

findings with you today. So first off the biggest question that you got to ask yourself is

why hotels, why boutique hotels? First off we got 40 million baby boomers retiring in the next seven years.

This is going to be the greatest transfer of wealth in American history.

It is about to go down.

And it's important, remember remember it's estimated that 25% of the boutique

hotels out there that are priced 10 million and under are owned by these

retiring boomers. A lot of their properties are tired. They haven't been renovated

in decades which leaves us a massive opportunity to come in and renovate these

properties and implement a lot of technology and marketing in order to increase

the income and essentially force our appreciation.

The second reason is we got tightening Airbnb regulations occurring in a lot of markets around the country right now.

We just saw what happened in New York City not too long ago, were they

regulated air B&Bs? And also what happened here in San Diego, which is where we live,

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