The Power of Networking with Nichole Stohler
How to Invest in Multi-Family and Hotel Properties
While working full-time in the Technology Industry, Nichole Stohler and her husband have built a real estate investment firm with an impressive portfolio that includes multifamily, hotels and single-family residential properties. Learn more by tuning into Nichole’s podcast, The Richer Geek.
Nichole believes that it’s not only possible, but it’s essential that others in high-income roles find ways to make their money work for them.
Nichole Stohler joins John Carney today in The Real Estate Locker Room to share some of her proven real estate investing techniques.
Tune into our conversation here iTunes - Stitcher- Google Play
Five Key Points:
- Learn from your failures.
- The power of networking. Build your network, develop your peers and learn from them. Ask questions and be open to opportunities. Find someone with expertise and partner up with them.
- Fundamentals are the same in regards to purchasing hotel vs multifamily. Look for the “value add”. Are you able to purchase for a great price and force the appreciation and increase the value?
- You have more options in generating revenue in a hotel space than in a multi-family property.
- Think about the opportunities hotels provide and how they can work in different spaces like the multi-family or Airbnb. I.e.- Advertising, covered parking, faster option of WIFI.
Favorite Sports:
- Running/ working out with a trainer
Favorite Athlete:
- Payton Manning
Favorite Books:
- Rich Dad Poor Dad
- How to Be a Capitalist Without Any Capital: The Four Rules You Must Break To Get Rich
Pro tips (3):
- If you accomplish your top 3 things, you’ve done with what you need to that day.
- It will never happen if you don’t make it happen.
- Find your local real estate Meetups and attend them!
Thank you Nichole for taking the time to emphasize the importance of networking and checking out opportunities with the audience.
Invest well,
John Carney
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