Experienced real estate investors make the jump into hospitality every year. Most of them underestimate what they're getting into.

In this episode, you'll hear what it actually looks like when a seasoned commercial operator buys his first boutique hotel, and what he'd do differently.

A commercial real estate investor who built a $75M portfolio across retail, self-storage, flex space, and adaptive reuse projects shares the unfiltered story of acquiring, renovating, and opening Salt Ranch, a 48-key boutique hotel in Nashville. Tyler Cauble had zero hospitality experience going in, and he's not shy about what that cost him.

In this episode, you'll discover:

• How he got financing after 50 lender rejections by redesigning a $17M project down to $10.5M
• Why old buildings will always surprise you, and how to protect yourself with the right contingency
• How tariffs added $150,000 in unexpected costs and what he'd build into his underwriting today
• The partner debt strategy he used instead of a capital call when costs ran over budget
• What he learned from interviewing 25 hotel management companies before selecting one
• Why does he say investing $50K in education before your first deal will outperform almost any return

If you're considering making the jump from commercial real estate into hospitality, or want to learn from someone who did it with eyes wide open, this one is worth your time.

If you found value in this episode, take 30 seconds to leave us a review here. It helps more people find the podcast and keeps us bringing on great guests.

Connect with Tyler Cauble

Website: https://www.tylercauble.com/ & https://saltranchhotel.com/

LinkedIn: https://www.linkedin.com/in/tylercauble/

YouTube: https://www.youtube.com/tylercauble

Instagram: https://www.instagram.com/commercial_in_nashville/

Connect with Michael on Instagram or LinkedIn.

Email Us at info@hotelinvestorplaybook.com

Visit the Hotel Investor Playbook Instagram

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What does it actually cost to build a boutique hotel from scratch in a foreign country? More than you think, and not just financially.

A short-term rental operator running 220+ properties across 40 cities is now three years into building a 20-unit boutique resort in Medellin, Colombia. No bank financing. A licensing process that restarted from zero. And a price tag is climbing toward $4.5 million. Tim Hubbard joins the show to walk through every layer of this project with total transparency.

In this episode, you'll discover:

• The real cost breakdown of a ground-up international hotel development and why it ballooned past initial estimates
• Why foreign investors can't get bank financing in Colombia, and how Tim structured the deal without it
• How a licensing change wiped out months of progress and what it taught him about developing abroad
• The partnership structure that made this project possible, and what Tim wouldn't have attempted alone
• How his virtual management company, Corzly, operates 220+ STRs across 40 cities at 5-10% fees
• Where AI is actually delivering results in hospitality operations today, and where it still breaks down

If you've ever visited a city and thought about building something there, this episode is the honest version of what that journey actually looks like.

Connect with Tim Hubbard

Website: https://corzly.com/

LinkedIn: https://www.linkedin.com/in/tim-hubbard-str/

Podcast: https://strriches.com/

If you found value in this episode, take 30 seconds to leave us a review here. It helps more people find the podcast and keeps us bringing on great guests.

Connect with Michael on Instagram or LinkedIn.

Email Us at info@hotelinvestorplaybook.com

Visit the Hotel Investor Playbook Instagram

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Most people who buy their first hospitality property don't realize they just bought themselves a 90-hour-a-week job. The difference between owning a business and being trapped inside one comes down to a single number most investors never bother to calculate before they sign.

In this episode, you'll learn the exact revenue threshold your property needs to hit before you can hire real staff, implement real systems, and actually step away from day-to-day operations.

A 26-year campground owner and operator who won 8 consecutive industry awards and now consults for investors and operators across North America breaks down what most first-time buyers get dead wrong. Greg Emmert has evaluated hundreds of deals and knows exactly where the line is between a profitable business and an expensive hobby.

In this episode, you'll discover:

• The minimum revenue number that separates real business owners from glorified employees
• Why "armchair quarterback syndrome" costs first-time hospitality investors more than any bad deal
• The infrastructure trap that can turn your dream property into an undevelopable piece of dirt
• How the work exchange model can supplement your labor force without destroying your payroll
• Why banks are now requiring third-party management before they'll write a check on hospitality assets
• The one thing experienced operators do before every acquisition that most beginners skip entirely

If you're serious about buying a hospitality asset and actually owning it instead of working inside it, this episode will save you from the most expensive lessons in the business. Don't learn them on your own dime.

About Greg Emmert

Greg Emmert is the Founder and Principal Consultant at Vireo, bringing over 30 years of award-winning experience to the outdoor hospitality sector. As the former owner and operator of the 240-site Homerville KOA in Northeast Ohio for 26 years, he guided the property to consistent profitability, Net Promoter Scores in the high 80s, and eight consecutive KOA President’s and Founder’s Awards. Today, Greg leverages his extensive hands-on background to help park owners and investors navigate market feasibility, pressure-test acquisitions through rigorous due diligence, and build scalable Standard Operating Procedures. Recognized as the 2019 Outstanding Environmental Educator and a passionate "bird-nerd," he also specializes in helping operators tap into the conservation economy to design premium, nature-based guest experiences that drive intense loyalty.

Connect with Greg Emmert

Connect with Greg on LinkedIn.

Visit their Website.

Learn how to use AI to underwrite faster, streamline operations, automate the busy work, and make better decisions. Start your 7-day free trial of the AI for CRE Collective here.

Connect with Michael on Instagram or LinkedIn.

Email Us at info@hotelinvestorplaybook.com

Visit the Hotel Investor Playbook Instagram

Invest with Malama Capital

Submit a deal