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Investing\xa0with Taylor at www.investwithtaylor.com\nOpen your self directed retirement account at www.passivewealthstrategy.com/rocket/\nMike Stohler is a veteran real estate investor who transitioned from single-family and multifamily investing to hotel investing in 2017. He owns multiple hotels, including a property in Barcelona, Spain. Mike is experienced in value-add strategies and has successfully navigated the challenges of the hotel industry.\nSummary:\nMike Stohler shares his journey from single-family and multifamily investing to hotel investing. He emphasizes the importance of having a mentor or advisor when entering a new asset class. Mike discusses the unique aspects of hotel investing, including the role of franchises, the impact of building form factor on revenue, and the importance of keeping employees happy. He also highlights the lessons he learned during pandemic and the creative solutions he implemented to maintain revenue. Mike dispels misconceptions about hotel ownership and emphasizes the long-term nature of hotel investments.\nKey Takeaways:\nGet a mentor or advisor when entering a new asset class.\nFranchises play a significant role in driving revenue in the hotel industry.\nBuilding form factor and shape can impact a hotel's revenue potential.\nKeeping employees happy is crucial for successful hotel operations.\nHotels require long-term, patient capital investments.\nQuotes:\n"Get a mentor, get an advisor, get a business partner that knows what they're doing." - Mike Stohler\n"Hotels are a small business that sits on real estate." - Mike Stohler\n"Build a life that you don't need a vacation from." - Mike Stohler