Hey guys, real quick, I'm going to be giving away a $1,000 built gift card and a pair of free tickets for you and a plus one to attend our holiday party this December 13th and an exclusive invitation to our private opening ceremony on the water, private chef, live music, and an opportunity to come hang with me and the team.

To enter to win, all you need to do is drop a five-star review and

rating on Apple Podcasts or Spotify, send a screenshot to giveaway at somerscapital.com, and we'll be selecting lucky winners Monday, December 8th. Now back to the show. Don't get it twisted. If you're listening to this right now and you're like, hey, man, it's a, it's a passive thing getting into hotels, it's not passive.

If you're busy and you're a business owner right now

and you're doing, hey, man, it's a, it's a passive thing getting into hotels. It's not passive.

If you're busy and you're a business owner right now and you're doing good in your business, that is going to be the highest and best use to your time. Getting into the hotel game is not passive. It's very active. It's very hands-on. And you got to put all your attention into it in order to really do good. Welcome to the Rich Strummers 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.

What's up, guys?

Welcome back to another episode of the Melaninine Money Show.

And as you can see, we're actually playing an away game. We just finished an amazing podcast. And now we're going to have him on our show. He went from being an air traffic controller to a creator of wealth by investing in boutique hotels. He's going to show you how you can do the exact same thing. So with no ado, Rich, how are you? George Carter, appreciate you boys coming through and having me on your show,

man, excited for this conversation. Absolutely, absolutely. Yeah. So the first question I have to ask

debunk of myth, is investing in hotels only reserve for rich people? Not at all. Not at all.

I think that's a huge myth because I'll tell you what,

there's a lot of boutique hotels out there that are owned by these retiring mama-pop owners

that aren't using any tech. They're not using any AI. They have underperforming hotels.

And you can find these hotels on LoopNet. If you're listening to this right now, LoopNet,

CREXE Pro, and you could go acquire some of these assets for less than a million dollars. And a lot of them come with seller financing opportunity because a lot of these mom and pop owners bought these assets 20 years ago, 30 years ago. They don't have debt on their properties. And they acquired those hotels 20 years ago, 30 years ago using seller finance. So they're already expecting to exit via seller finance, but also what makes a good candidate for seller financing opportunity? It's going to be an owner that's retiring. They're not going to be 10,301 exchanging their proceeds into another asset, but also they want to reduce their tax burden and they want the cash flow ongoing in retirement. And so if you listen to this, you don't need a lot of money to go buy a boutique hotel. There's plenty of them out there in the country for less than a million dollars that you could probably get for $100,000 down, $150,000 down. So for the benefit of the listeners, can you just break down what exactly is seller financing? Seller financing is simply when the seller of a boutique hotel or any real estate for that matter

is going to sell you the buyer, the property, and then instead of you going to the bank to get a

note to buy that property, the seller is just going to be the bank and they're going to finance you

the property.

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