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DO NOT buy a Boutique Hotel, until you watch this video

Welcome to Boostly Podcast Episode 560. In this podcast episode, Mark interviews Michael, a short-term rental operator who has recently purchased a 57-bed boutique hotel in Salem, Massachusetts. Michael explains how he got into the boutique hotel industry and the challenges he faced along the way. He mentions that commercial real estate in the US is an insider's game, and the relationships one builds are important. He also notes that finding commercial properties online is difficult as they have often been picked over by other investors. Michael talks about how he prefers to call his short-term rental business "little hotels" or vacation rentals. He explains that the systems he developed for single-family homes work at scale for boutique hotels, such as using the same locks, cameras, and property managers. Michael gives advice for those interested in getting into the boutique hotel industry and provides a link to a deal analyzer world to help with investment decisions. Mark encourages listeners to check out Michael's Instagram account for more information. 00:18 - Intro 02:05 - Michaels "Uber Pitch" 05:05 - Did you find out the stay 10:03 - Talking about the tech stack 14:45 - Laundry question 21:11 - Google business listing importance 25:35 - What's that one bit of advice 28:33 - Outro Grab a copy of the Book Direct Playbook: https://boostly.co.uk/book Subscribe to Boostly on YouTube: https://bit.ly/2Sb22zd Watch the video Booking Com Tried To Get Removed From YouTube:    • Hidden hacks Booking.com don’t want y...   ** FREE RESOURCES ** Get the latest hospitality marketing tips and advice that will help you increase your direct bookings straight to your phone https://boostly.co.uk/dailyboost Join the Facebook Group   / hospitalityowners   ** Keep in Touch** Follow Boostly on Instagram   / boostlyuk   Connect on Linkedin   / mrmarksimpson   #boostly #bookdirect #Teamboostly