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Speaker 1: What's up its way up at Angela Yee. I'm Angela

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Speaker 1: Yee and my girl is here, Devon Reeves. Okay, you

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Speaker 1: know her from the Vaughn Group, but she is a

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Speaker 1: hotel owner. You own three hotels, correct, and you are

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Speaker 1: always trying to get me to invest in hotel ownership,

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Speaker 1: but you actually have two people with you. This is

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Speaker 1: a whole trifecta when it comes to investing in hotel ownership.

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Speaker 1: All right, So we have Damon Smith here and Damon

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Speaker 1: you are you? You are the owner of Senergy Management,

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Speaker 1: Senergy Hospitality Management, Senergy Hospitality Management.

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Speaker 2: Which what do you do?

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Speaker 3: So we are a third party management company, so we

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Speaker 3: manage hotels for hotel owners and we're also hotel investors

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Speaker 3: as well, myself and my wife.

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Speaker 2: Okay, how many hotels?

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Speaker 3: Currently we're managing four and we have three in pipeline

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Speaker 3: under contract to transact by the end of August.

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Speaker 2: Okay, and I'm right head to here.

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Speaker 1: You are a hotel broker, correct, Okay, So explain like that.

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Speaker 1: I mean it sounds self explanatory, but I like to

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Speaker 1: hear it from you absolutely.

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Speaker 3: So what I do is two hats. One is I

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Speaker 3: help people sell their hotels primarily what I do. So

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Speaker 3: just like you always tell people, if you think about

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Speaker 3: real estate, specifically hotels, you've rarely ever seen a first

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Speaker 3: sale sign in front of it. They do sell, So

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Speaker 3: it's a relationship based industry. And then the other had

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Speaker 3: I wear is I do acquisitions consultant for first time

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Speaker 3: high networth Black Latin or LATINX families looking to get

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Speaker 3: in that they're capitalized. They just don't want to lose

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Speaker 3: their shirt and go into it the wrong way. I

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Speaker 3: help them with their acquisition.

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Speaker 1: Now, when it comes to hotel ownership, what percentage of

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Speaker 1: Black people are hotel owner is devined.

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Speaker 4: So they're actually over fifty nine thousand hotels in the

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Speaker 4: United States and less than one percent of the hotels

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Speaker 4: are owned by Black people, less than probably what zero

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Speaker 4: point five percent.

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Speaker 1: It's probably owned by black women. That is insane because

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Speaker 1: we definitely stay at some hotels. They work at hotels.

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Speaker 4: So there was a report that was put out I

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Speaker 4: think it was by MMG Global that was put out

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Speaker 4: in twenty nineteen, I believe, and as a Black community,

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Speaker 4: the black travel dollar was over one.

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Speaker 5: Hundred and nine with million billions one Yeah, it was

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Speaker 5: a big number.

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Speaker 4: But yet we own less than one percent, so we're

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Speaker 4: not even really circulating that money with within our communities.

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Speaker 4: And so I'm on a mission, actually all three of us,

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Speaker 4: we're on a mission to increase that.

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Speaker 5: So I have courses, you know, I have the book Hotel.

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Speaker 5: You know.

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Speaker 4: I've launched a platform called a Vestor. It's a crowdfunding

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Speaker 4: platform where individuals or sponsors can raise capital or equity

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Speaker 4: for their hotel. And one of the main reasons I

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Speaker 4: created Vestor so folks can actually invest in You can

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Speaker 4: invest in properties is little as five thousand dollars. Typically

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Speaker 4: investing in hotels is a minimum of seven figures or

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Speaker 4: very high six figures. And I saw that there was

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Speaker 4: an opportunity for our community because there are people who

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Speaker 4: do want to diversify their investor portfolio, and they're capitalized

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Speaker 4: to actually invest or own. And so that's why I

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Speaker 4: wanted to make sure that I see people who look

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Speaker 4: like me, you know, in the ownership space. I'm glad

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Speaker 4: that at these ownership conferences. That's actually why we're here

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Speaker 4: in New York right now. More there's more and more

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Speaker 4: people who are looking like us. When I'm in the boardrooms,

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Speaker 4: I want to see more people who look like me.

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Speaker 4: I want to see more owner representation. And the reason

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Speaker 4: why because owners make decisions right.

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Speaker 5: Right.

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Speaker 4: We can put people's and we can put people in

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Speaker 4: jobs if somebody wants to actually do business with the hotel,

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Speaker 4: meaning you know, put their soaps, put their call in,

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Speaker 4: and that's a big deal there called hey I'm here.

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Speaker 5: Oh I'm gonna get you in there. Don't worry. Don't worry.

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Speaker 2: Yeah, because it's a lot of things.

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Speaker 1: And look, I own an Airbnb that's nowhere near owning

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Speaker 1: a hotel, but on a smaller scale, you see what

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Speaker 1: is necessary, you know, with the towels, with their roads,

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Speaker 1: with the with the toiletries, but having all of those

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Speaker 1: things that are available for your guests when they check in.

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Speaker 5: Yeah, exactly.

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Speaker 4: And and a lot of those amenities can be black

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Speaker 4: phoned or minority owned. And so I saw that there

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Speaker 4: was an opportunity. And now I'm in a position and

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Speaker 4: I've created a community and a platform, and the brands

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Speaker 4: are and they've been seeing that their brands, hotel brands

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Speaker 4: that have diversity programs.

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Speaker 5: Choice has the emerging markets. Well, now it's sore.

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Speaker 4: Wyndom has bold and women on the room and IHG

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Speaker 4: has the Lift program and so they're they're they're really

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Speaker 4: starting to see the opportunity of diverse hotel owners and

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Speaker 4: they're working with folks like myself to get the message

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Speaker 4: up there.

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Speaker 1: Yeah, I see Wyndom is actually sponsoring this hotel ownership

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Speaker 1: tour right one of the spy You're here for New

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Speaker 1: York and then Belize and then New Orleans.

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Speaker 4: Yep, so HG, I had an Atlanta stop. IHG did

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Speaker 4: the Atlanta stop. Windom they're doing the New York stop,

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Speaker 4: and then we're going to be staying at some Hilton

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Speaker 4: properties in the future steps.

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Speaker 2: Okay, I say it was spread the love around.

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Speaker 5: We said the love around. Baby.

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Speaker 2: Now you also did used to work at a hotel?

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Speaker 4: Right?

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Speaker 1: I want to see this is why this is an

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Speaker 1: important conversation. It's like, you know how to own a

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Speaker 1: Chick fil A, you have to work at one. And

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Speaker 1: I do feel like the experience of having worked at

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Speaker 1: a hotel probably helped you a lot. Yeah, and wanting

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Speaker 1: to see that because my first question would be, what

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Speaker 1: made you decide, being that less than point five percent

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Speaker 1: of black women are hotel owners, what made you even

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Speaker 1: think this is something that's possible.

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Speaker 4: You know what, when I started off working as a

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Speaker 4: front desk agent, I didn't even know I could own

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Speaker 4: a hotel.

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Speaker 5: Did y'all know that Chuck could start off.

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Speaker 3: Not really not her first noise hotel school grads like, yeah,

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Speaker 3: we just.

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Speaker 4: Did because we're you know, we were trained to work,

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Speaker 4: and probably the highest position we thought we could get

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Speaker 4: would be a general man a manager.

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Speaker 6: Yeah, we did. I was advanced. I was going to

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Speaker 6: be a regional vice president.

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Speaker 4: Okay, he was taking big I was like, I'm just really,

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Speaker 4: I was like, I'm just going to be a director

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Speaker 4: of sales, you know. I was like, I just want

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Speaker 4: to be a director of sales and marketing. And so

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Speaker 4: it wasn't a Mari and I. We actually met in

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Speaker 4: this organization called the American Hotel Lodge and Association under

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Speaker 4: thirty gateway. So it was for professionals, hotel professionals under

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Speaker 4: the age of thirty, and we.

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Speaker 5: Had a board meeting in New York.

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Speaker 4: We met every year in New York at a hotel

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Speaker 4: show and that there were folks from the Indian community

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Speaker 4: and they were under the age of thirty.

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Speaker 5: And I was like, well, what do you do on hotels?

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Speaker 6: Wait?

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Speaker 5: What you own a hotel.

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Speaker 4: I mean they inherited. They that part I found out last.

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Speaker 4: But you know, they were developing and owning hotels. And

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Speaker 4: that's when the light bulb just went off and I

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Speaker 4: just became passionate and I was like, I'm an own hotel.

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Speaker 5: I didn't know how I was going.

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Speaker 4: To do it. There wasn't YouTube like it is now,

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Speaker 4: with a podcast like it is now, you know, you

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Speaker 4: couldn't you know, listen to your show and try to,

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Speaker 4: you know, connect with someone, and so I just you know,

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Speaker 4: just got hungry. And people thought I was crazy because

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Speaker 4: they was like, girl, you working at the front desk.

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Speaker 5: You ain't got no money. How you going to own

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Speaker 5: a hotel? I don't know, but I'm own it.

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Speaker 1: And for all of you guys, I want to ask

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Speaker 1: that question too, and getting into this space, what was

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Speaker 1: that journey like for your first you know, hotel? I

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Speaker 1: know you have ownership in hotels, but like, what was

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Speaker 1: that journey like getting into your first hotel ownership?

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Speaker 6: First? You let me go first, Okay, So.

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Speaker 3: Just cliff note, I started in the hotel business at

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Speaker 3: age of seventeen as a bellman and a ditchwasher in Mobile, Alabama.

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Speaker 7: Which is my hometown, Okay se student, and I think

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Speaker 7: looking at life from there to now.

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Speaker 6: Through see is get these ds.

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Speaker 3: So I think my first opportunity was came through a

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Speaker 3: mutual acquaintance that I was doing some consulting for. I

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Speaker 3: had worked my way up to the kind of above

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Speaker 3: property level as a regional vice president with the company

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Speaker 3: UH based in Richmond, Virginia, and I was talking to

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Speaker 3: this guy, UH and he was in a tight he

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Speaker 3: had lost he had lost a partner. He wanted to

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Speaker 3: He needed some cash real bad. UH needed to refinance.

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Speaker 7: UH.

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Speaker 3: He couldn't afford to refinance. You know, he was he

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Speaker 3: was really just grasping for straws. And you know, me

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Speaker 3: and my wife started talking, you know, shout out to

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Speaker 3: Crystal because she she stood behind it, UH, and she said,

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Speaker 3: you know, baby, if you believe in this, then let's

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Speaker 3: do it. And that's exactly what happened. We we invested

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Speaker 3: the money, and you know, it turned into an amazing

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Speaker 3: property that we not only bought into from an ownership standpoint,

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Speaker 3: but it was our first asset under management for our

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Speaker 3: management companies. So Synergy Hospitality Group was born at the

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Speaker 3: Country in the suits and Tulsa, Oklahoma.

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Speaker 5: Wow.

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Speaker 7: Yeah, So you know God is good man. You cannot.

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Speaker 3: I mean and risk and risk I mean as people

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Speaker 3: of color. And I'll be brief and I'll let little Margo.

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Speaker 3: But you know, we're so risk averse in our communities

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Speaker 3: and because we don't do the research, and we go

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Speaker 3: for find a person that's the smartest person closest to us.

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Speaker 3: And I started reaching out to people outside of me

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Speaker 3: and my circle, and I found people like Amar and

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Speaker 3: Amari introduced me to Davon and we've been introduced in

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Speaker 3: created a very unique ecosystem of high intellectual people who

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Speaker 3: all like to have fun, but love and love to

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Speaker 3: serve and have passions for it.

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Speaker 1: And you know, I also look at us being risk

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Speaker 1: averse because a lot of times, like we might be

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Speaker 1: the first ones that are actually investing in and making money.

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Speaker 1: So it is scary because it's not like a lot

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Speaker 1: of us have anybody to fall back on. If this

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Speaker 1: doesn't work, then a lot of times it's like building

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Speaker 1: yourself back up.

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Speaker 2: There's people who can.

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Speaker 1: Fail and fail forward and a lot of times for us,

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Speaker 1: it's like there's a lot of people that are relying

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Speaker 1: on us. I knew about that too. So it is

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Speaker 1: hard to think about, you know, that mindset. But it's important,

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Speaker 1: right because with a greater risk comes a greater reward.

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Speaker 1: But sometimes it is just so hard to make that leap.

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Speaker 1: And Amari, let's talk about that with you and how

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Speaker 1: you got into this space also and your work in hotels.

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Speaker 3: Yeah, so I first got introduced to it. I'll never forget.

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Speaker 3: My brother went to Cornell University top hotel program. He

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Speaker 3: did not go to a hotel program. He was super smart,

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Speaker 3: did engineering. And my mom was like, you like to travel,

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Speaker 3: you like to eat. You ever thought about hospitality? Okay, mon,

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Speaker 3: I'm like, oh that's a job. I'm like, I'm a fan.

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Speaker 3: I like to travel, like do this. So from that

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Speaker 3: point on, I was committed to hospitality. Fast forward. I

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Speaker 3: had another brother and he always he worked in hotel business,

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Speaker 3: and his brother got him into the hotel business. And

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Speaker 3: his hotel at the time had the contract for Jerry

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Speaker 3: Springer Show.

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Speaker 6: So I used to I'm like a kid.

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Speaker 3: I used to sit in the lobby and it's like

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Speaker 3: you get to see the guests, super wowy had great stories.

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Speaker 2: I was with you last night.

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Speaker 6: Yeah, like, oh that's true. I could see. I could

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Speaker 6: see it on the episode later on, and I mean

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Speaker 6: it was he.

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Speaker 3: Got us to the line of rainforest all things. I

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Speaker 3: was not the decoy, by the way. We want to

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Speaker 3: put that out, don't. I don't want that to live.

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Speaker 3: But but but he said, O Mario, if you're going

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Speaker 3: to do this, do it the right way, like I

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Speaker 3: have a ceiling. And and he wasn't privileged enough to

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Speaker 3: go to college the same way that I did.

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Speaker 6: Went to University of Ada Las.

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Speaker 3: Vegas, chased it down, worked and opened the spot tower

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Speaker 3: at the Bolagio, VIP services at the Rio, so big

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Speaker 3: box gaming, opening consulting for the win.

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Speaker 6: This is all my undergraduate experience.

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Speaker 3: And I was just like so by the time, I

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Speaker 3: had a very extensive resume, came out, did a management

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Speaker 3: training program in Chicago, GFC happens Great Financial Crisis, and

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Speaker 3: then I moved out to DC. My partner she was

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Speaker 3: applying the pH d program, so you know, we had

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Speaker 3: to kind of figure that out. We made it work

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Speaker 3: and we went to DC and the best thing ever

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Speaker 3: about Great Financial Crisis about a house. And the previous

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Speaker 3: sales price for the house was like three hundred and

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Speaker 3: sixty nine thousand I got for like one sixty nine.

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Speaker 3: And while that was so important, was because I was

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Speaker 3: able to ride that up and when I used that

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Speaker 3: home equity line of credit to invest in my first

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Speaker 3: hotel deal. Now when I was I've always wanted to

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Speaker 3: get into brokerage, and a big piece of that is

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Speaker 3: that again, like I said, it's a relationship based industry.

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Speaker 3: So if you are looking to find diverse and new owners,

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Speaker 3: you have to have somebody from that community. And I

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Speaker 3: looked around and I'm like, there's not any black hotel brokers.

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Speaker 3: And when I asked a few, People'm like have you

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Speaker 3: ever met one? Like it was I was literally trying

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Speaker 3: to find the plug, like have you met a black

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Speaker 3: hotel bron there?

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Speaker 6: And I heard about one? It was like very elusive.

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Speaker 6: Yeah it was.

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Speaker 3: It was very elusive. So I was like, Okay, I'm

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Speaker 3: gonna make that jump. It'll take that risk, right because again,

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Speaker 3: this is commission only And so when I when I

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Speaker 3: jumped into that world, I saw that a lot of

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Speaker 3: it was not just access to capital, it was I

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Speaker 3: beat the drums more so accessed information. So when I

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Speaker 3: can have these conversations with people, there's like, okay, you

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Speaker 3: flip houses and you do this, or you you have

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Speaker 3: a retail business and you do it. You ever thought

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Speaker 3: about hotel ownership And by the way, I can show

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Speaker 3: you how to how to value this, I can help

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Speaker 3: you do that.

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Speaker 6: I can help you acquire it.

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Speaker 3: Being that conduit for information was just that that's been

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Speaker 3: game change and that's what you know, the ecosystem that

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Speaker 3: we build and devon having the biggest micro from being

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Speaker 3: the biggest champion for that, I mean, we continue to

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Speaker 3: appreciate that. So that was my story into kind of

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Speaker 3: how I got into being a brokerage and advisor and

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Speaker 3: the consultancy, because I've also seen people from our community

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Speaker 3: get into it, get into it the wrong way.

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Speaker 6: And it's been because when we don't know the.

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Speaker 3: Business, people pray on that because again people realize that

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Speaker 3: we do have the capitol and they're just like, oh

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Speaker 3: wait a minute, and they'll sell you whatever. And then

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Speaker 3: they forgot to tell you like, oh, such and such,

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Speaker 3: you know, the airport entrance is relocating. Are you something

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Speaker 3: that you didn't do your research on that that the

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Speaker 3: right consultant and advisor could have helped you through, and

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Speaker 3: then somebody sold you that and you're left hold in

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Speaker 3: the bag and it's an empty bag.

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Speaker 1: And Davin, you know, speaking to what Amari just said

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Speaker 1: earlier too about you rarely see that for sales sign

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Speaker 1: on a hotel. Explain that because you know it's the

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Speaker 1: business that great that like just tell me why that is. Well,

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Speaker 1: like you said, for one, is a relationship business and

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Speaker 1: it's a commercial asset, right so, and also hotels are

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Speaker 1: operating business sitting on real estate, and so typically you

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Speaker 1: want to work with someone that specialized in that field.

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Speaker 4: And there's not an MLS for hotels. Like so there's

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Speaker 4: not like a central location.

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Speaker 5: Like if you want to.

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Speaker 4: Buy house, you have access to have access to it,

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Speaker 4: right the hotel you just can't go. You know, you

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Speaker 4: can google it, but there's not like one central place.

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Speaker 5: Where you can go.

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Speaker 4: You can go to Loop Ned, you can go to Craiksey,

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Speaker 4: but there's not one central place.

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Speaker 5: And as far as like a for sale sign, you

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Speaker 5: know they'll call up a broker.

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Speaker 4: They called for Mari And actually the Indian community probably

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Speaker 4: owns over fifty percent of the hotels in the United States.

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Speaker 4: Who knew I did not know that, And so you

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Speaker 4: know they can just pick up the and called a cousin.

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Speaker 4: If they wanted to sell me, they could just keep

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Speaker 4: it in the family. And so for what And then

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Speaker 4: the common person buying a hotel wouldn't even just cross

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Speaker 4: their mind.

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Speaker 5: It's not on the race.

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Speaker 1: Listen, I tell you, it's not something I even thought about.

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Speaker 1: I was thinking about the salamander in DC too, and yes,

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Speaker 1: so I remember, and that was the Mandarin Oriental and

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Speaker 1: I stayed there, you know, last time that I was

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Speaker 1: in DC, and I was like, Okay, that's you know,

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Speaker 1: that's amazing.

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Speaker 4: Her story is amazing because she's the fact that she

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Speaker 4: not only did uh did miss Johnson create a hotel brand,

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Speaker 4: but she created a hotel luxury brand experience very very

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Speaker 4: and she created an amazing team. And so the fact

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Speaker 4: that you know, by her opening doors for someone like myself,

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Speaker 4: even though I would never get into luxury, that's just

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Speaker 4: not my space.

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Speaker 2: But why is that?

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Speaker 6: And that's a good point.

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Speaker 5: The reason why it's not my space because.

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Speaker 4: It depends on your strategy on where you want to

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Speaker 4: go in the hotel ownership. Luxury hotels has a lot

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Speaker 4: of amenities, right, a lot of labor because you have

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Speaker 4: the service. Yes, you know, when you go to a

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Speaker 4: luxury Hotel de mand and Oriental those Salamana. You want

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Speaker 4: to take advantage of the spa. You know you want

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Speaker 4: room service. You know you want sounds like me exactly.

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Speaker 4: You want stuff when you come home, when you come

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Speaker 4: back to your room from the spy.

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Speaker 5: You know you would love the chocolate.

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Speaker 4: You want to turn down services, all of that you need,

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Speaker 4: all that. You know, you just want to pick up

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Speaker 4: the call and pick up the phone and say, you

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Speaker 4: know what, I don't feel like going downstairs and getting

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Speaker 4: my towels. Right, That's okay because they're going to bring

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Speaker 4: it up to you.

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Speaker 5: You know. But everything that I just said has a cost, Yeah,

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Speaker 5: it does.

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Speaker 4: So by the time, from my ownership perspective, all of

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Speaker 4: those different line items is being taken away from the revenue.

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Speaker 5: Okay. So that's so me.

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Speaker 4: I prefer extended state or limited service hotels.

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Speaker 5: And the reason why because they don't.

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Speaker 4: Have as many as amenities from an ownership perspective. So right,

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Speaker 4: So a hotel like a Hampton in or Home to Suite,

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Speaker 4: those type of hotels, you know, when you stayed there,

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Speaker 4: you're getting a comfortable bed, you know, shower and you

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Speaker 4: know someone nice clean hotel, clean hotel.

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Speaker 5: You know what I mean, that's what's devil Chi.

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Speaker 2: You might get some warm cooking exactly.

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Speaker 5: You know, now I'll never forget that. I will go

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Speaker 5: to DOUBLET to get a cook You remember that exactly.

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Speaker 5: And it's that brand standard.

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Speaker 4: Now some folks, you know, they may not depending on

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Speaker 4: your appetite, you may not want to say it. In

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Speaker 4: an economy hotel, but they're great to own, right And

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Speaker 4: the reason why because there's not as many amenities, you know,

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Speaker 4: when I'm talking about a super aid or microtel, those

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Speaker 4: type of hotels. That's how people build their portfolio, and

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Speaker 4: that's really how any community owns over fifty to sixty

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Speaker 4: percent of the hotels from that that that model was.

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Speaker 1: Just because it's not as many luxury hotels at all

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Speaker 1: either as far as.

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Speaker 4: Plus, it takes a lot of money and it takes

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Speaker 4: a lot of money to renovate costs. Because I mean

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Speaker 4: because even even with a luxury hotel, because it's a

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Speaker 4: certain level of service, you have to have twenty four

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Speaker 4: hour room service.

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Speaker 1: And even though I will say they don't anymore, I

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Speaker 1: feel like a lot of hotels now, especially after COVID, Yeah,

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Speaker 1: after COVID, a lot of things. A lot of things

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Speaker 1: have changed, you know, And I want to talk about

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Speaker 1: your opportunity that you saw to get into the hotel business,

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Speaker 1: because I know we've discussed this previously, But for you, divine,

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Speaker 1: how did that happen for you?

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Speaker 5: It happened for me.

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Speaker 4: Basically, I took a non paid internship for Yes, my

403
00:18:29,800 --> 00:18:33,600
Speaker 4: my daddy got blessed to so you know, he did

404
00:18:33,640 --> 00:18:36,959
Speaker 4: not do free You had to work, yeah, and he

405
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Speaker 4: did not. He didn't believe in volunteering. Everybody could be based.

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Speaker 5: And so when I told him that, it didn't make

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Speaker 5: sense to him.

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Speaker 4: And so I worked there in the morning for free,

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Speaker 4: and I worked at the heighted night because I got

410
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Speaker 4: my start off at the Hiring st Atlanta. So this

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Speaker 4: was after graduation, but I was so determined and becoming

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Speaker 4: a hotel owner, and so I found an opportunity to

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Speaker 4: work for hotel owners because in my mind, that's the

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Speaker 4: best way to learn about hotel ownership is from a

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Speaker 4: hotel owner. And that's probably been like the best experience

416
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Speaker 4: I could have ever had. And it's so funny my

417
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Speaker 4: old bosses at the conference.

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Speaker 5: They were in.

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Speaker 4: And that's how I built relationships, That's how I understood

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Speaker 4: the process. That's how I understood the development, and I

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Speaker 4: understood the money. The biggest part of a hotel is

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Speaker 4: the money part, right, understanding the financing part, and understood

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Speaker 4: that a lot of people really don't use their own

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Speaker 4: money to buy hotels, including billionaires.

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Speaker 2: Did you use your own money when you first started?

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Speaker 4: No, we used We was all through private capital. Oh wow, okay, yep, yeah,

427
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Speaker 4: So we partnered up and we raised capital do our

428
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Speaker 4: and my investors there my family forever. I loved them

429
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Speaker 4: because for them to invest with me, even though I

430
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Speaker 4: had hotel experience, and even though I worked in asset management,

431
00:19:59,200 --> 00:20:01,800
Speaker 4: working on behalf of owners, it's different when you take

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Speaker 4: that risk and you do it on your own.

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Speaker 5: It's different. It's just completely different.

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Speaker 4: And so for the fact that they took and they

435
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Speaker 4: didn't even meet me, the met because this was during COVID.

436
00:20:12,160 --> 00:20:15,040
Speaker 1: Right, yeah, I remember, you tell me again that it was,

437
00:20:15,160 --> 00:20:16,720
Speaker 1: you know, opportunity during COVID.

438
00:20:16,960 --> 00:20:20,560
Speaker 4: Opportunity during COVID, and so they they believed in me,

439
00:20:20,880 --> 00:20:21,520
Speaker 4: never met me.

440
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Speaker 5: I didn't even meet my business partner. We buying an

441
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Speaker 5: eight point three million dollars. We didn't meet.

442
00:20:27,920 --> 00:20:31,879
Speaker 4: Whereas it al Rena, Oklahoma. Yeah yeah, and Arena, Oklahoma.

443
00:20:32,119 --> 00:20:35,159
Speaker 4: We bought it for eight point three million dollars. And

444
00:20:35,520 --> 00:20:38,119
Speaker 4: you know, the investors and how I was able to

445
00:20:38,119 --> 00:20:41,080
Speaker 4: find investors just I just kept talking about hotel ownership.

446
00:20:41,119 --> 00:20:42,800
Speaker 4: I kept talking, and then people reached out. It was

447
00:20:42,800 --> 00:20:45,120
Speaker 4: an opportunity. People reached out and they invested. Of course,

448
00:20:45,160 --> 00:20:49,080
Speaker 4: I was shocked. I was like, what so And it's

449
00:20:49,160 --> 00:20:51,879
Speaker 4: people that you don't My family didn't want to invest, right,

450
00:20:52,160 --> 00:20:53,959
Speaker 4: you know. Now it's a different story now, girl, what

451
00:20:54,000 --> 00:20:55,439
Speaker 4: you got now?

452
00:20:54,960 --> 00:20:57,560
Speaker 1: But people afterwards, after worth, they'd be like, why you

453
00:20:57,600 --> 00:20:59,480
Speaker 1: didn't hit me up to you know what I did.

454
00:21:00,520 --> 00:21:01,040
Speaker 6: I tried.

455
00:21:01,400 --> 00:21:02,000
Speaker 2: I tried.

456
00:21:02,040 --> 00:21:03,719
Speaker 5: I sent you to visit that you and ghost.

457
00:21:04,000 --> 00:21:07,560
Speaker 4: But and so the fact that they invested, and it's

458
00:21:07,600 --> 00:21:11,520
Speaker 4: so crazy how God works because my first investors now

459
00:21:11,560 --> 00:21:15,640
Speaker 4: they're on their second hotel, you know, and so they're

460
00:21:15,760 --> 00:21:17,240
Speaker 4: adding to that.

461
00:21:17,400 --> 00:21:19,840
Speaker 5: You know, he's about to manage it, you know, and

462
00:21:19,920 --> 00:21:22,399
Speaker 5: so he's so the fact.

463
00:21:24,440 --> 00:21:27,960
Speaker 4: It's such a beautiful experience because you know, Omar and

464
00:21:28,000 --> 00:21:31,760
Speaker 4: I we we talked about this what in twenty eighteen,

465
00:21:31,800 --> 00:21:34,840
Speaker 4: twenty nineteen, and I remember when I was like, man,

466
00:21:34,840 --> 00:21:36,800
Speaker 4: I'm gonna talk about hotel ownership.

467
00:21:36,880 --> 00:21:41,800
Speaker 5: He was like, nah, I ain't ready, David. People ain't ready.

468
00:21:41,800 --> 00:21:43,160
Speaker 5: And I was like, man, I'm gonna do it.

469
00:21:43,280 --> 00:21:46,560
Speaker 4: And and it's the crazy how we had these conversations

470
00:21:46,600 --> 00:21:47,440
Speaker 4: and we're here with you.

471
00:21:47,440 --> 00:21:49,160
Speaker 5: Now, with Miss b Angela.

472
00:21:49,240 --> 00:21:52,639
Speaker 4: YU like, it's just amazing that we're here talking about

473
00:21:53,000 --> 00:21:56,159
Speaker 4: black hotel ownership and folks are coming up to me

474
00:21:56,280 --> 00:21:57,719
Speaker 4: and they're having these conversations.

475
00:21:57,960 --> 00:22:00,440
Speaker 1: I read about you before I met you, and that's

476
00:22:00,480 --> 00:22:01,880
Speaker 1: and that's how I knew it.

477
00:22:01,920 --> 00:22:03,280
Speaker 5: When I heard you say my name, I.

478
00:22:03,320 --> 00:22:07,800
Speaker 3: Was like, yeah, I appreciate the transparency because when she's

479
00:22:07,800 --> 00:22:11,880
Speaker 3: talked about having investors, they lead with kind of likes

480
00:22:11,960 --> 00:22:12,760
Speaker 3: me is me as me?

481
00:22:13,960 --> 00:22:17,359
Speaker 1: Yeah, the last one, yeah, three million is you know,

482
00:22:17,440 --> 00:22:19,960
Speaker 1: I can't even lie and damon, you're getting emotional, and

483
00:22:20,000 --> 00:22:21,919
Speaker 1: so I would love for you to jump in, just

484
00:22:21,960 --> 00:22:23,720
Speaker 1: because I feel like there's something that you want to

485
00:22:24,200 --> 00:22:24,600
Speaker 1: you know, I.

486
00:22:25,040 --> 00:22:26,920
Speaker 7: Think you know, I'm a very spiritual person.

487
00:22:27,440 --> 00:22:31,359
Speaker 3: And as as she's talking, as is talking, you know,

488
00:22:31,480 --> 00:22:32,160
Speaker 3: there's a theme.

489
00:22:33,000 --> 00:22:34,480
Speaker 7: There's a theme theme of faith.

490
00:22:34,880 --> 00:22:40,359
Speaker 3: Yeah, because when you're doing something that nobody else believes

491
00:22:40,359 --> 00:22:45,280
Speaker 3: that you can do, and everybody tells you no, yeah,

492
00:22:45,960 --> 00:22:47,880
Speaker 3: but you know that you know that you have been

493
00:22:47,920 --> 00:22:53,440
Speaker 3: called and anointed to do what you're doing. That resolute,

494
00:22:54,040 --> 00:22:56,959
Speaker 3: that that the necessity, the necessity to be resolute in

495
00:22:57,000 --> 00:22:59,440
Speaker 3: the face of every mountain that's in front of you.

496
00:23:00,800 --> 00:23:03,720
Speaker 3: One of the things that that gravitated me towards Avon

497
00:23:04,200 --> 00:23:12,879
Speaker 3: is her undying commitment to not just being a hotel owner,

498
00:23:13,800 --> 00:23:15,880
Speaker 3: but the education platform.

499
00:23:17,040 --> 00:23:18,680
Speaker 7: Same thing with Amar and we're.

500
00:23:18,480 --> 00:23:24,320
Speaker 3: All very fervent readers, and we love the educational process

501
00:23:24,320 --> 00:23:27,879
Speaker 3: and we're passionate about the industry. So she's talking about

502
00:23:28,640 --> 00:23:31,480
Speaker 3: two of her investors that started off as investors with her.

503
00:23:32,200 --> 00:23:36,320
Speaker 3: We just took over their first hotel, Solo Hotel in Memphis,

504
00:23:38,240 --> 00:23:40,439
Speaker 3: and we're getting ready to take over their second hotel,

505
00:23:40,480 --> 00:23:43,119
Speaker 3: their first full service hotel, my first full service hotel

506
00:23:43,160 --> 00:23:47,919
Speaker 3: under management in July. And I get emotional because I

507
00:23:47,960 --> 00:23:52,840
Speaker 3: think back when I was washing those dishes, and I

508
00:23:52,880 --> 00:23:58,200
Speaker 3: don't give nothing for my journey, and I just it's

509
00:23:58,280 --> 00:23:59,719
Speaker 3: just an amazing feeling.

510
00:23:59,760 --> 00:24:03,480
Speaker 7: When you trap it out with your tribe.

511
00:24:02,920 --> 00:24:03,840
Speaker 6: You know what I'm saying.

512
00:24:04,320 --> 00:24:06,720
Speaker 3: You know, when you trap it out with your tribe,

513
00:24:06,720 --> 00:24:11,280
Speaker 3: and these people a Maria call me, Deyvanna call me Hey,

514
00:24:11,320 --> 00:24:12,840
Speaker 3: I talk to such and such. You need to call them.

515
00:24:12,880 --> 00:24:14,280
Speaker 3: They're gonna call you. I just want to make sure

516
00:24:14,280 --> 00:24:16,639
Speaker 3: you're right with it. Amara, Hey, I need to bound

517
00:24:16,680 --> 00:24:20,479
Speaker 3: something off of you. It's and it's it's not common.

518
00:24:21,359 --> 00:24:25,280
Speaker 3: It's not common, especially in our communities, that we have

519
00:24:25,440 --> 00:24:28,199
Speaker 3: these types of groups and these types of dynamic personalities

520
00:24:28,240 --> 00:24:29,960
Speaker 3: and we can all be humbled in front of one

521
00:24:30,000 --> 00:24:33,880
Speaker 3: another because we respect what the other person does and

522
00:24:33,920 --> 00:24:37,840
Speaker 3: that's what makes the ecosystem of it all work. So

523
00:24:38,000 --> 00:24:42,120
Speaker 3: this isn't just something that happened overnight and and we're

524
00:24:42,160 --> 00:24:44,439
Speaker 3: just like sitting up here hanging out and you know,

525
00:24:44,560 --> 00:24:47,919
Speaker 3: it's it's it's something that is cultivated. You know, I'm

526
00:24:47,920 --> 00:24:50,359
Speaker 3: from Alabama and my family has been been in agriculture

527
00:24:50,400 --> 00:24:53,720
Speaker 3: for a long time. So I believe in what you plant,

528
00:24:54,240 --> 00:24:57,520
Speaker 3: m giving it the love that it needs because it's

529
00:24:57,520 --> 00:24:59,160
Speaker 3: not just the soil, it's not just the water, it's

530
00:24:59,200 --> 00:25:02,040
Speaker 3: not just the sun. But everything that you put into

531
00:25:02,400 --> 00:25:05,400
Speaker 3: that seed makes it grow. The love makes it grow,

532
00:25:05,720 --> 00:25:08,159
Speaker 3: and the love and respect and the fallings out and

533
00:25:08,200 --> 00:25:12,240
Speaker 3: the disagreement sometimes it happens.

534
00:25:12,320 --> 00:25:15,040
Speaker 2: Yeah, you gotta just take business not personal.

535
00:25:15,359 --> 00:25:16,000
Speaker 5: Oh yeah, you can.

536
00:25:16,160 --> 00:25:17,920
Speaker 3: My mom used to say teeth and tongue fall out.

537
00:25:17,960 --> 00:25:19,840
Speaker 3: You know you you you know your your teeth and

538
00:25:19,840 --> 00:25:21,840
Speaker 3: your tongue. I have a disagreement and your bite your tongue.

539
00:25:22,200 --> 00:25:24,080
Speaker 3: So I think that with with with the people in

540
00:25:24,119 --> 00:25:26,440
Speaker 3: this room, and you know, for her to mention the

541
00:25:26,560 --> 00:25:29,040
Speaker 3: two people that we're investing with, I think and I'm

542
00:25:29,040 --> 00:25:31,520
Speaker 3: managing for she tutored and mentored.

543
00:25:31,520 --> 00:25:33,680
Speaker 7: I think that they use vest and they.

544
00:25:33,640 --> 00:25:38,920
Speaker 4: Use funded and they use my crowdfunded UH form to

545
00:25:39,359 --> 00:25:42,560
Speaker 4: raise the capital or to raise some of the capital

546
00:25:42,560 --> 00:25:45,600
Speaker 4: for the deal. And so to seeing that all of

547
00:25:45,640 --> 00:25:50,239
Speaker 4: these things come to fruition. And and you know, I

548
00:25:50,280 --> 00:25:52,480
Speaker 4: was talking to some students yesterday. It was actually some

549
00:25:52,480 --> 00:25:59,159
Speaker 4: some black students go to some HBCUs and I was

550
00:25:59,160 --> 00:26:02,760
Speaker 4: talking about hotel owner ship and the fact that you

551
00:26:02,760 --> 00:26:05,440
Speaker 4: know that we're talking about it, and they were listening

552
00:26:06,000 --> 00:26:09,959
Speaker 4: and if we could just change one person, you know,

553
00:26:10,119 --> 00:26:13,080
Speaker 4: to make their lives easier because we didn't really have

554
00:26:13,240 --> 00:26:15,640
Speaker 4: a we we've been creating our own rope.

555
00:26:15,680 --> 00:26:19,560
Speaker 5: Now each of us have our now exactly. And so

556
00:26:19,600 --> 00:26:20,399
Speaker 5: the fact that.

557
00:26:20,359 --> 00:26:23,320
Speaker 4: You know, now I have you know, little girls that

558
00:26:23,520 --> 00:26:25,800
Speaker 4: tell me that that mom send me an inbox saying

559
00:26:25,880 --> 00:26:28,080
Speaker 4: you know, they did a history project on me.

560
00:26:28,160 --> 00:26:30,000
Speaker 5: It's like, wait, what you know they talk about the

561
00:26:30,040 --> 00:26:31,159
Speaker 5: dinner table. They're talking about it.

562
00:26:31,160 --> 00:26:34,920
Speaker 4: As I mentioned before, you know, fanily reunions and you know, we.

563
00:26:34,840 --> 00:26:37,639
Speaker 5: Make sure we all eat because.

564
00:26:38,160 --> 00:26:42,160
Speaker 4: You know, if we don't circulate it within our community,

565
00:26:42,560 --> 00:26:45,919
Speaker 4: if we don't help each other out, then how you

566
00:26:45,960 --> 00:26:48,720
Speaker 4: know we're doing a disservicing. And you know, you know,

567
00:26:49,080 --> 00:26:51,560
Speaker 4: as Dane was talking, I was thinking about, you know,

568
00:26:51,640 --> 00:26:54,280
Speaker 4: my grandma and a lot of our grandmas. You know,

569
00:26:54,359 --> 00:26:58,399
Speaker 4: at one point, not only could they not stay at

570
00:26:58,440 --> 00:27:01,680
Speaker 4: a hotel depending on hotel and the color of their skin,

571
00:27:02,400 --> 00:27:05,040
Speaker 4: especially if they're a little dark, they couldn't even work

572
00:27:05,080 --> 00:27:08,000
Speaker 4: at the hotel. You know, my grandmother at my age,

573
00:27:08,359 --> 00:27:11,200
Speaker 4: especially when I first started out, she couldn't even work

574
00:27:11,200 --> 00:27:12,840
Speaker 4: at the hotel that was in her town.

575
00:27:13,000 --> 00:27:17,560
Speaker 2: Damn not work. Like that's not that long ago.

576
00:27:17,880 --> 00:27:19,800
Speaker 1: When you think about it, people always act like it's

577
00:27:19,800 --> 00:27:22,760
Speaker 1: been oh, that's in the past whatever, But it's not that.

578
00:27:22,840 --> 00:27:25,679
Speaker 1: There's people alive today who experienced that.

579
00:27:25,880 --> 00:27:29,720
Speaker 4: Yeah, and people forget that we actually owned hotels, Like

580
00:27:30,080 --> 00:27:31,400
Speaker 4: this is not something new.

581
00:27:31,520 --> 00:27:34,000
Speaker 5: No black folks own the hotels. We've been owned a

582
00:27:34,040 --> 00:27:34,760
Speaker 5: hotel since the.

583
00:27:34,760 --> 00:27:38,199
Speaker 4: Late eighteen hundreds, and you know it was just you know,

584
00:27:38,560 --> 00:27:40,440
Speaker 4: they had to stay at black owned hotels during the

585
00:27:40,440 --> 00:27:43,760
Speaker 4: Civil Rights movement. And like Omari said, I'm gonna give

586
00:27:43,800 --> 00:27:45,080
Speaker 4: you credit for it.

587
00:27:44,520 --> 00:27:45,840
Speaker 5: So I came up with that.

588
00:27:45,760 --> 00:27:48,800
Speaker 4: Black folks we were originally the original folks at Airbnb

589
00:27:49,280 --> 00:27:51,960
Speaker 4: because during the Civil Rights movement and even prior to

590
00:27:52,000 --> 00:27:55,159
Speaker 4: the civil Rights movement, in the Green Book, you know,

591
00:27:55,280 --> 00:27:58,320
Speaker 4: it was folks homes listed where it could stay because

592
00:27:58,320 --> 00:28:01,639
Speaker 4: we couldn't stay at home at you know, white on

593
00:28:01,760 --> 00:28:04,840
Speaker 4: hotels or white on establishments. We could work there, but

594
00:28:04,880 --> 00:28:08,879
Speaker 4: we couldn't stay there. And we travel differently, right, and

595
00:28:08,960 --> 00:28:12,959
Speaker 4: so the fact that you know, because of integration, it

596
00:28:13,000 --> 00:28:15,720
Speaker 4: got lost because now we wanted to stay at hotels

597
00:28:15,720 --> 00:28:17,720
Speaker 4: where we couldn't stay at before and a lot of

598
00:28:17,720 --> 00:28:20,879
Speaker 4: those black on hotels kind of shut down. So it's

599
00:28:20,960 --> 00:28:24,520
Speaker 4: not it's not new at all. But what I when

600
00:28:24,560 --> 00:28:27,639
Speaker 4: I realized the amount of money that the hotel industry

601
00:28:29,240 --> 00:28:33,480
Speaker 4: makes and we are putting a lot of children's children.

602
00:28:33,200 --> 00:28:36,800
Speaker 5: Through college, and I've seen it and I'm like, well,

603
00:28:36,960 --> 00:28:38,280
Speaker 5: why can't we do it?

604
00:28:38,800 --> 00:28:40,960
Speaker 4: And you know, my grandmother, she always taught me to

605
00:28:41,040 --> 00:28:43,760
Speaker 4: keep one paid off house in the family, so that

606
00:28:43,840 --> 00:28:46,680
Speaker 4: where everybody always gonna have a place to stay. You know,

607
00:28:46,760 --> 00:28:50,000
Speaker 4: that's good advice. I'm gonna take it to the next level.

608
00:28:50,560 --> 00:28:53,400
Speaker 4: Keep a paid off hotel in the family. That way,

609
00:28:53,520 --> 00:28:55,280
Speaker 4: not only way you have a place to stay, but

610
00:28:55,320 --> 00:28:57,400
Speaker 4: you have place to work. So if you need some money,

611
00:28:57,400 --> 00:28:58,080
Speaker 4: place to make some.

612
00:29:00,720 --> 00:29:02,600
Speaker 3: I got that loan for you, that two thousand you need,

613
00:29:02,760 --> 00:29:04,320
Speaker 3: go ahead, and I got the twenty five rous.

614
00:29:04,400 --> 00:29:05,400
Speaker 2: For anybody listening.

615
00:29:05,480 --> 00:29:07,920
Speaker 1: And if they're like, okay, I'm interested, what would you

616
00:29:07,960 --> 00:29:10,680
Speaker 1: tell them? Is the first step to figure out how

617
00:29:10,720 --> 00:29:13,560
Speaker 1: can I get on this path to hotel ownership?

618
00:29:13,640 --> 00:29:16,240
Speaker 4: First see what your bank account looking like, So talk

619
00:29:17,080 --> 00:29:20,280
Speaker 4: because it's very expensive. So talk to your financial advisor

620
00:29:21,040 --> 00:29:22,280
Speaker 4: to see if you can go in.

621
00:29:22,240 --> 00:29:23,800
Speaker 5: The path of owning or investing.

622
00:29:24,000 --> 00:29:27,480
Speaker 4: Okay, right, And so if you know, maybe you're not

623
00:29:27,600 --> 00:29:31,720
Speaker 4: ready for owning because you probably figure starting off that's

624
00:29:31,760 --> 00:29:34,760
Speaker 4: on the low end, at least right on the low

625
00:29:34,880 --> 00:29:37,560
Speaker 4: end to start off, you know, but if you don't

626
00:29:37,600 --> 00:29:39,600
Speaker 4: have that in your financial advisor. And the reason why

627
00:29:39,640 --> 00:29:41,560
Speaker 4: I say talk to your financial advisor because for one,

628
00:29:41,560 --> 00:29:43,280
Speaker 4: I'm not a financial advisor, and I don't know your

629
00:29:43,280 --> 00:29:44,200
Speaker 4: personal situation.

630
00:29:44,800 --> 00:29:46,880
Speaker 5: But you know, and then.

631
00:29:46,800 --> 00:29:49,840
Speaker 4: Also investing in hotels has its benefits when it comes

632
00:29:49,880 --> 00:29:52,640
Speaker 4: to Texas. Okay, right, So that's why we always say,

633
00:29:52,640 --> 00:29:54,760
Speaker 4: talk to your financial advisor to see what works for you.

634
00:29:55,160 --> 00:29:57,080
Speaker 4: But if you know, if you don't have that much,

635
00:29:57,160 --> 00:29:59,520
Speaker 4: probably the most economical way to get started and investing

636
00:29:59,560 --> 00:30:03,840
Speaker 4: in hotel would be reads real estate investment trusts. And

637
00:30:03,920 --> 00:30:07,120
Speaker 4: that's it's essentially kind of like investment in stock or

638
00:30:07,160 --> 00:30:09,000
Speaker 4: you can invest in a piece of a hotel. It's

639
00:30:09,000 --> 00:30:11,720
Speaker 4: like a piece of a hotel. So and you're not

640
00:30:11,960 --> 00:30:15,640
Speaker 4: investing directly into the hotel. But if you want to

641
00:30:15,680 --> 00:30:21,360
Speaker 4: invest directly into the hotel, you know, finding folks like us.

642
00:30:21,400 --> 00:30:24,600
Speaker 4: But the biggest thing you go to investor let him

643
00:30:24,640 --> 00:30:31,040
Speaker 4: know our dot com and and the book and exactly

644
00:30:31,360 --> 00:30:33,880
Speaker 4: so you know, and then we we talked about this

645
00:30:33,960 --> 00:30:36,600
Speaker 4: and actually I got this from Omari. He really I

646
00:30:36,600 --> 00:30:37,720
Speaker 4: get a lot of myself from.

647
00:30:39,240 --> 00:30:40,880
Speaker 5: Because he's a professor at heart.

648
00:30:41,120 --> 00:30:44,680
Speaker 4: But he talked about an ownership thesis, and you know,

649
00:30:44,840 --> 00:30:47,320
Speaker 4: so finding out the basic things. You know, what when

650
00:30:47,400 --> 00:30:49,960
Speaker 4: we're how so what kind of hotel you want to buy?

651
00:30:50,360 --> 00:30:52,160
Speaker 4: You know, where do you want to buy it, Why

652
00:30:52,200 --> 00:30:53,440
Speaker 4: do you want to do it? Do you want to

653
00:30:53,440 --> 00:30:54,800
Speaker 4: do it for cash flow? Do you want to do

654
00:30:54,800 --> 00:30:58,600
Speaker 4: it for equity? So, because hotels is a capital intensive

655
00:30:58,600 --> 00:31:00,520
Speaker 4: so it's not like something you kind of want to

656
00:31:00,640 --> 00:31:03,640
Speaker 4: go just kind of jump in without the knowledge, you know.

657
00:31:03,720 --> 00:31:05,360
Speaker 4: And that's what I've noticed a lot too with the

658
00:31:05,400 --> 00:31:06,920
Speaker 4: people of color who wanted to get in the whole.

659
00:31:07,000 --> 00:31:08,920
Speaker 5: I met a lot of black people with money.

660
00:31:08,800 --> 00:31:10,479
Speaker 4: Right, I know a lot of black people with money,

661
00:31:10,680 --> 00:31:13,120
Speaker 4: and they got serious money and they come buy a hotel,

662
00:31:13,120 --> 00:31:16,160
Speaker 4: probably in cash if they wanted to, right. But the

663
00:31:16,200 --> 00:31:19,680
Speaker 4: biggest thing is, like Omar mentioned, and what we realized

664
00:31:19,840 --> 00:31:22,600
Speaker 4: as we've really gotten out there into the community is

665
00:31:22,600 --> 00:31:25,480
Speaker 4: the lack of education and knowledge that you can actually

666
00:31:25,520 --> 00:31:28,600
Speaker 4: do it. So the biggest thing is if you don't

667
00:31:28,640 --> 00:31:31,520
Speaker 4: know how to do it, you know, work with the consultants,

668
00:31:31,960 --> 00:31:35,760
Speaker 4: you know, work with someone that's in the industry. So

669
00:31:35,880 --> 00:31:39,200
Speaker 4: don't get you know, your favorite residential broker to help

670
00:31:39,240 --> 00:31:41,959
Speaker 4: you sell or help you buy hotels. It's different because

671
00:31:42,000 --> 00:31:44,640
Speaker 4: it's a different thing, it's a different beast. You know,

672
00:31:44,760 --> 00:31:47,160
Speaker 4: you have to understand the business side to valuate just

673
00:31:47,280 --> 00:31:49,760
Speaker 4: it's just too complicated. So for the folks who really

674
00:31:49,760 --> 00:31:51,680
Speaker 4: want to get into the hotel space. I would say

675
00:31:51,720 --> 00:31:55,280
Speaker 4: start off with education, really understanding different type of brands,

676
00:31:55,280 --> 00:31:59,000
Speaker 4: the type of markets, how to valuate a hotel, all

677
00:31:59,040 --> 00:32:03,600
Speaker 4: of those things that will help you be prepared. Because

678
00:32:03,600 --> 00:32:05,240
Speaker 4: it's on Mari mentioned and I say this a lot,

679
00:32:05,240 --> 00:32:07,880
Speaker 4: and I've seen it firsthand. There are some predatory folks

680
00:32:07,880 --> 00:32:10,640
Speaker 4: out there. Yeah, they know you a first time hotel owner.

681
00:32:10,800 --> 00:32:13,080
Speaker 4: They will take it in and they will tave no money.

682
00:32:13,520 --> 00:32:14,960
Speaker 5: And in a contract so longer.

683
00:32:15,000 --> 00:32:17,160
Speaker 4: You're talking about five ten year contracts, and if you

684
00:32:17,160 --> 00:32:19,680
Speaker 4: don't know what you're doing, it can be very expensive

685
00:32:19,720 --> 00:32:20,560
Speaker 4: to get out of them.

686
00:32:20,680 --> 00:32:22,720
Speaker 3: And you're talking about it was some of the entities,

687
00:32:22,760 --> 00:32:24,960
Speaker 3: it's twenty year contracts, right.

688
00:32:25,120 --> 00:32:25,320
Speaker 7: See.

689
00:32:25,680 --> 00:32:28,000
Speaker 3: Yeah, so if you don't know what you're doing, and

690
00:32:28,560 --> 00:32:31,520
Speaker 3: that's why a lot of that's part of the equity

691
00:32:31,520 --> 00:32:33,880
Speaker 3: and inclusion piece, right when people start coming around the

692
00:32:33,880 --> 00:32:35,800
Speaker 3: community and they're like, oh wait, we can kind of

693
00:32:35,840 --> 00:32:39,160
Speaker 3: tell people anything. Man, the fees should be this if

694
00:32:39,200 --> 00:32:41,080
Speaker 3: you don't have a point of reference, or your point

695
00:32:41,080 --> 00:32:44,480
Speaker 3: of reference is not sillient to what is general practice

696
00:32:44,480 --> 00:32:47,160
Speaker 3: in hotels, and you think you're getting a good deal

697
00:32:47,160 --> 00:32:48,840
Speaker 3: and you start talking to other hotel owners and you

698
00:32:48,880 --> 00:32:50,800
Speaker 3: realize somebody just cut your head back to the white meat,

699
00:32:50,920 --> 00:32:52,960
Speaker 3: right and did it with a smile, and you did

700
00:32:53,000 --> 00:32:55,120
Speaker 3: not know what happened. And it happens just like that,

701
00:32:55,320 --> 00:32:57,640
Speaker 3: like a lot of exactly what Davon said, people, you're

702
00:32:57,640 --> 00:32:58,640
Speaker 3: not engaging the right folks.

703
00:32:58,720 --> 00:33:01,560
Speaker 4: Yeah, because the hotels is basically you're buying a franchise.

704
00:33:01,640 --> 00:33:01,840
Speaker 3: Yeah.

705
00:33:02,040 --> 00:33:04,920
Speaker 4: So a lot of people don't realize. People think of

706
00:33:05,000 --> 00:33:07,120
Speaker 4: entrepreneurs I see this a lot they think of entrepreneurship.

707
00:33:07,160 --> 00:33:09,080
Speaker 4: They thinking I had to come up with this idea

708
00:33:09,440 --> 00:33:11,360
Speaker 4: and take it from ideation to execution.

709
00:33:11,480 --> 00:33:16,080
Speaker 5: Okay, how about you to right? You know, I want.

710
00:33:15,920 --> 00:33:22,080
Speaker 4: To how about good luck? That's crazy. But buying into

711
00:33:22,160 --> 00:33:25,200
Speaker 4: a franchise is also you becoming and so you're buying

712
00:33:25,200 --> 00:33:27,160
Speaker 4: the business and you're buying in real estate. That's why

713
00:33:27,720 --> 00:33:30,320
Speaker 4: it's it's sexy to a lot of real estate investors

714
00:33:30,360 --> 00:33:34,280
Speaker 4: because of that owning the business and the nightly rates

715
00:33:34,640 --> 00:33:38,360
Speaker 4: the night see with multi family it's you know, static

716
00:33:38,440 --> 00:33:40,680
Speaker 4: six to not twelve month least with a hotel.

717
00:33:41,040 --> 00:33:43,239
Speaker 5: Guess what the super Bowl coming? You can junk them

718
00:33:43,320 --> 00:33:44,680
Speaker 5: right to you know what I mean?

719
00:33:44,800 --> 00:33:47,680
Speaker 4: You see that happen New Year's, New Year's even New

720
00:33:47,760 --> 00:33:49,120
Speaker 4: York I don't even want to know what the read

721
00:33:49,160 --> 00:33:50,760
Speaker 4: is because I know it's crazy, and then the next

722
00:33:50,840 --> 00:33:53,880
Speaker 4: day it's yeah, back to normal, you know what I mean?

723
00:33:54,080 --> 00:33:58,120
Speaker 4: So that going to essence fast And how come it's

724
00:33:58,120 --> 00:33:58,760
Speaker 4: so expensive?

725
00:33:58,760 --> 00:33:59,400
Speaker 2: I was just here.

726
00:33:59,680 --> 00:34:01,720
Speaker 6: Yeah, yeah, it's revenue management.

727
00:34:04,200 --> 00:34:09,680
Speaker 4: So that's why including us while we invest in hotels

728
00:34:09,719 --> 00:34:13,080
Speaker 4: and take advantage of the text benefits. My biggest thing

729
00:34:13,120 --> 00:34:15,960
Speaker 4: is I love this kind of rates, just kind of

730
00:34:17,120 --> 00:34:18,960
Speaker 4: that's I mean, because I don't work in a hotel anymore,

731
00:34:18,960 --> 00:34:20,160
Speaker 4: so I don't get those benefits.

732
00:34:20,160 --> 00:34:24,040
Speaker 5: So I was like, I need to do something.

733
00:34:24,040 --> 00:34:26,799
Speaker 1: But my producer Dan, we was in Dallas and they

734
00:34:26,880 --> 00:34:28,880
Speaker 1: upgraded my room to the Presidential Suite.

735
00:34:29,320 --> 00:34:31,279
Speaker 2: When I tell you, I was about to squat. I

736
00:34:31,320 --> 00:34:35,759
Speaker 2: was like, I'm not leaving here Dallas in that room.

737
00:34:37,360 --> 00:34:39,520
Speaker 1: This has been a great crash course, But I feel

738
00:34:39,560 --> 00:34:41,319
Speaker 1: like people need to follow each one of you if

739
00:34:41,360 --> 00:34:43,320
Speaker 1: they want to get started on their journey or maybe

740
00:34:43,600 --> 00:34:45,400
Speaker 1: you know later on down the line. Know who are

741
00:34:45,440 --> 00:34:49,200
Speaker 1: some credible people in this hotel industry. So let's give

742
00:34:49,200 --> 00:34:49,760
Speaker 1: our information.

743
00:34:49,880 --> 00:34:52,160
Speaker 2: Damon. Let's start with you. Where people can find you.

744
00:34:52,160 --> 00:34:55,560
Speaker 3: You can find me on Instagram at hotel Guru gu

745
00:34:55,680 --> 00:34:59,960
Speaker 3: RU one nine zero six and obviously you can look

746
00:35:00,080 --> 00:35:05,160
Speaker 3: up our company at www dot Synergy Hospitalitygroup dot com.

747
00:35:05,200 --> 00:35:07,560
Speaker 2: Okay, all right, i'mri O.

748
00:35:07,680 --> 00:35:12,359
Speaker 3: Marihead on Instagram at hip hop Hotel Broker, Okay.

749
00:35:12,400 --> 00:35:16,279
Speaker 4: Davion Dave var and Reees, I'm on Instagram. You can

750
00:35:16,320 --> 00:35:19,279
Speaker 4: find me on LinkedIn and you can also go to

751
00:35:19,520 --> 00:35:22,880
Speaker 4: Vestor dot com which is v E S T E

752
00:35:23,120 --> 00:35:25,200
Speaker 4: r R dot com. And I want to thank you

753
00:35:25,239 --> 00:35:28,560
Speaker 4: Angela for bringing us on. This is history right here,

754
00:35:28,880 --> 00:35:32,200
Speaker 4: to have a black owned hotel management company, to have

755
00:35:32,360 --> 00:35:36,720
Speaker 4: a black hotel broker who's transacted over a billion dollars

756
00:35:36,760 --> 00:35:40,080
Speaker 4: in sales, to have one of the few black hotel

757
00:35:40,120 --> 00:35:41,320
Speaker 4: black female hotel owners.

758
00:35:41,320 --> 00:35:43,080
Speaker 5: So I just appreciate you so much.

759
00:35:42,920 --> 00:35:48,200
Speaker 1: All right, chopping with you tribe, all right, Well, thank

760
00:35:48,280 --> 00:35:50,960
Speaker 1: y'all so much. This has been amazing, all right, and

761
00:35:51,000 --> 00:35:52,560
Speaker 1: I know this has been a long time coming. I'm

762
00:35:52,560 --> 00:35:55,160
Speaker 1: glad we were able to get it done. And woman

763
00:35:55,239 --> 00:35:57,600
Speaker 1: of your words, I'm definitely following the journey always.

764
00:35:57,719 --> 00:36:00,319
Speaker 4: I'm just saying, well, we girl, watch out, stay tune.

765
00:36:00,320 --> 00:36:01,719
Speaker 4: Her coffee about to be in somebody, so

766
00:36:02,239 --> 00:36:06,759
Speaker 2: I know that's right way up, way up,