All Forum Posts by: Brian Whelan

I will set up a Webex for early January where we can have a conference call to get the ball rolling.

Please share your email address here (or private message me if preferred) and I will send you the meeting info and dial-in information. If there is anybody you would like added who works in or is interested in the Hotel business, please feel free to have them contact me too.

The conference call will be used as an opportunity for people to introduce themselves, briefly describe their role in the Hotel business, and suggest what they would like to get from the Hotel Group (ideas, discussion topics, networking etc). It will be an informal discssion to see where we can take the group.

I'm excited about its potential and the fact that it seems to be the first of it's kind on the site.

Looking forward to hearing from you.

@Jeff B. I agree with you that the hotel business is definitely a more mgmt intensive class of REI; but it's still very much a class of REI nonetheless. Your level of involvement in the business will depend on what type of owner you are. Obviously, a mom & pop/owner operator will very much see running a hotel as an operational business more than a real estate investment. On the other hand, you have institutional owners and REIT's such as Blackstone and Lonestar who are very much Real Estate Companies; and are highly leveraged in the Hotel business. Instead of hiring property managers, they hire third-party hospitality management Companies to run the daily operations.

Arguably the business requires more effort than other more passive REI forms, barriers to entry can be higher due to setup costs and larger overheads, but we are seeing that the cap rates and returns achieved by our clients more than justify the additional effort and creativity required.

This could actually be a great discussion topic for our first meetup! 

As many of you know, the Hospitality industry has become an increasingly attractive sector of commercial real estate for many investors who seek a more creative long-term return.

Saturation in other asset classes has led to savvy investors across the country explore industries such as the Hotel business. 

To that effect, I would like to suggest starting of a Hospitality/Hotel forum or meetup group.

The aim of the group would be to network with hospitality industry professionals, discuss industry trends, and maybe have guest speakers from the Hospitality Industry. 

I am based in Manhattan and would be more than happy to organize a meetup locally or regionally.

If there was interest from across the country then perhaps we could set up a Webex meeting monthly or quarterly depending on interest levels.

The BP site is a great resource with a ton of valuable information. I would simply like to give the Hospitality sector the same exposure which the MultiFamily and Residential sectors enjoy.

If anyone has any suggestions, or maybe a forum already exists, I would love to hear from you!

Vanessa could you send me the details, please. 

I have several Hotel investor clients involved in 1031 exchanges at the moment.

Thanks 

My fiancee and I are considering a move to Fairfield, CT. 

I was in the area for the first time yesterday and loved the place. Right by the beach, 75 minutes to Grand Central and great downtown feel to it. Seems to have a nice blend of both urban and suburban living, and looks like a great place to put down roots and raise a family.

Curious to hear how locals feel about the area? I work in Commerical real estate in NYC so the commute is one of the only red flags I can see.

How is the local economy doing? Do people enjoy living there? What's the outlook for the area in terms or real estate, job growth and population? Are there any drawbacks to living in the area?

Appreciate all feedback

@Matthew King are the letters CCIM held in any regard by those outside the CRE industry? Or is it just something for those within the industry to recognize? Like when my fiancee spends a lof money on a really nice bag, but really it will only ever be admired by other women.

Is the knowledge gained anything outside of what's available in a solid RE Financial Investment manual or through research online about core CRE topics?

I probably will go ahead with it, I just didn't want to throw away money without doing  some DD.

Thanks for your feedback

Does the CCIM designation provide high value as a commercial broker? It appears to be the gold standard for any established broker but would be interested to hear from brokers who have completed the designation to see if they found it benefited their business? Is it worth the investment of both time and money?

Hi Lauren

What towns are you considering?

I would identify a competitive advantage you may have over the other buyers. Sellers are not always swayed by the highest offer, many times they look beyond the offer at other factors such as your financing (mortgage or cash?), closing terms (maybe you can close quicker than the others which may be more beneficial?), inspection contingencies (not recommended-but if you are very confident with your rehab team you could offer to waive the inspections and buy as is)

Figure out what the seller needs and try your best to solve that problem better than the competition!

Hi Yazeed - Sorry you didn't get a response on this- please feel free tor each out to me if you want to discuss any apartments for rent in the area, I live and work in the Chelsea area so would be happy to discuss!