How To Build New Hotel Developments And Make A Fortune In Real Estate

Founder and manager of E&M Strategic Development (2002), Mark Meyer combined his long experience as a mortgage bank owner into building hotels and developing communities.

In this episode, Mark shares his strategies for growing a business–how knowing and understanding your consumers are some of the key factors that can help you achieve success.

Mark also shares incredible stories about giving chances to people and watching them thrive individually. He also gives helpful advice in seeking opportunities and the importance of sticking to proven and tested strategies and business models.

Don’t forget to reach out to Mark Meyer:

Email: info@emstrategic.com

Linkedin: https://www.linkedin.com/in/mark-meyer-91671733/

Website: https://www.emstrategic.com/

Quotes -

“The underlying business case has to be there because I have to be able to support around $36 million dollars in debt. That’s something you can sleep on all night unless you have a business case on your hands.”

“Some people think I play monopoly money. [But $36million?] That’s another level of monopoly money.”

“If you set your dreams low enough that you are not uncomfortable, you need to change your goals. Your goals should make you uncomfortable.”

“What we’re doing is not new. So I have the confidence that there had been models that had been successful like this for the past 50 years."

“It’s interesting how consumer demands have shifted what the expectation is in a nightly hotel stay.”

“You have to work. It’s not an easy process. [..] If you stick to a business model if you stick to something that’s worked in the past, control your staffing, watch your expenses, it [hotel business] could turn into something that’s a lot of fun.”

“We don’t really care if you have a college degree or not. It doesn’t matter what you’ve done in the past. We’re worried about what you’re going to do in the future.”

“You know exactly what you’re supposed to do. You go in; you get it done. The faster you get it done, you get rewarded.”

“Once you have a reputation for being able to put a project together, your phone rings on a pretty consistent basis.”

“Every community is different. So you go out and talk to a lot of folks. Talk to a lot of mayors. See where the process goes.”

“The opportunities that you don’t get are the ones you don’t ask for.”

“One thing about real estate is the vastness of it.”

Concepts -

When you take a risk, remember that everything can work out in the end.
Approach your possible leads. Opportunities to grow and develop your business exist for you to take.
Be creative in finding solutions that result in win-win scenarios for everyone involved.
Challenge yourself by striving for high dreams and goals.
Trusting a proven model for your business, more often than not, allows you to experience amazing benefits.
Understanding the consumer shift is crucial in building a model for your business.
You can turn your venture into something more fun by going by the books with your model and working hard for the process.
Consider the factors that are specific to your location including, tourism and seasons.
Take advantage of the government benefits and help when they’re offered.
Your degree in college or university doesn’t matter as much as your attitude and perseverance when working.
Knowing exactly what you want and the steps to take them are helpful if you want to be successful.
When you build a reputation, offers come to you.
To identify your market, take a look at the data and the community you’re targeting.
Sometimes, you have to look for opportunities if you want to achieve something.
Understand and stay in your lane, especially if you’re good at what you do.

Time Stamps -
0:00 Introduction
0:29 Saving a house
3:27 Real estate journey–financing and investing
6:10 Meeting with a Wisconsin mayor in 2014
8:00 Bringing in more value to a community
10:30 Repeating the same model
12:20 Being comfortable with huge debts
15:00 Understanding the consumer shift
17:40 Investing in a hotel business
18:40 Planning your exit
20:00` Being smart with your business
22:00 Your degree does not matter
23:40 Supporting employees on their goals
24:20 Looking for a good market or areas to develop
25:45 Reputation building and accepting offers
27:00 Connecting data to community
30:50 Networking with a mayor
32:50 Helping expand a community
35:00 Building more careers
36:25 Next steps for the business
37:25 How to deal with challenges
43:00 Sharing your valuable experience
45:20 Typical minimum investment

Sources Mentioned -

👍 Keep up with The Freedom Chasers:

Subscribe to our YouTube: https://www.youtube.com/channel/UC4_Wkdt-M2rKLmfucReIneg
Follow us on Instagram: https://www.instagram.com/podcast_tfc
Follow us on Twitter: https://www.twitter.com/tfcp_podcast
Join Facebook Group: www.facebook.com/groups/freedomchaserspodcast

//TAGS
How To Build New Hotel Developments And Make A Fortune In Real Estate, Make A Fortune In Real Estate