In this episode of the Real Estate Investing for Cashflow podcast, Kevin invites real estate expert Greg Dickerson. Greg is a serial entrepreneur, real estate developer and mentor. Over the past 20 years he has bought, developed and sold over $200 million in real estate, built and renovated hundreds of custom homes and commercial buildings and started 12 different companies from the ground up.
Greg talks extensively about hotel real estate and shares a lot of information about the business, market selection, franchising and financing. Kevin and Greg give tips on how to apply one’s self and bring value into any business. Greg also shares a little bit about his inspiring work ethic which is undoubtedly a key to his success.
“There’s no other way to get a gut feeling for the project than besides standing on the site, looking around, taking it in, I’ll visit at night, in the morning during the day, that’s how you do deals, that’s how the business happens— out in the field, on site, boots on the ground.”
“The metrics are the same wherever you go, the drivers for hotels are the same for multifamily in anything else you’ll need.”
“To this day, I do not guarantee debt, I do non-recourse loans.”
“What I do is I stay away from deals where I refinance is part of the business plan.
“The process starts with a vision, so it’s about being able to create a vision for a project and then leading a team to the finish line and getting that thing.”
- 4:26 Greg’s background
- 8:44 Greg talks about hotel real estate
- 14:11 Market selection, scalability and financing
- 19:47 Kevin and Greg talk about the financial crisis and mitigating risks
- 26:37 How to bring value to a business
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