In this episode of the Multifamily Real Estate Experiment podcast, I, you host, Shelon Hutchinson, known as Hutch the Marine Investor, interview George Salas, the founder of Express Capital and a visionary in short-term rental capital and structuring. George shares his journey from growing up in poverty in Lima, Peru, to building a successful portfolio of experiential short-term rentals and structuring large fund management deals. The discussion delves into the importance of not letting obstacles hinder one's dreams, the intricacies of raising capital, structuring funds, and the need for creating unique guest experiences to stand out in the saturated short-term rental market. George also discusses his strategy for a $200 million roll-up of property management companies and the practicalities of acquiring and scaling operations in the short-term rental industry. The episode is rich with insights into building a sustainable and profitable real estate business, underpinned by personal development, strategic partnerships, and leveraging experiential amenities.
George Salas - LinkedIn
00:00 Introduction and Guest Welcome
01:27 Guest's Background and Inspirational Mantra
02:04 Overcoming Challenges and Entrepreneurship Insights
04:18 Capital Raising and Strategic Vision
08:54 Experiential Short-Term Rentals Explained
09:51 Challenges in the Short-Term Rental Market
13:53 Capital Structuring and Fund Management
20:52 Focus Round: Fun, Opportunities, and Personal Development
31:22 Conclusion and Contact Information
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Email me at:
hutch@hsquaredcapital.com
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
George Salas (00:00):
Wah Gwaan all you multifamily enthusiast.
(00:03):
Welcome to another powerfulepisode of the Multifamily Real
Estate Experiment podcast.
I'm your host, ShalonHutchinson.
If you've been connected with mefor a long time, you know me as
Hutch the Marine Investor, andtoday our guest is a visionary
in the world of short termrental capital and capital
structuring.
George Salas is the founder ofExpress Capital and.
(00:27):
a fund manager And the architectof experiential, STR portfolio
with over 130 plus transactionand millions of dollars raised
in capital and a verticalintegrated platform.
George is redefining how STR isacquired and scale, and I'm
(00:50):
really excited to hear aboutthis one because look where most
people are trying to buy as ahouse.
He's trying to buy many houses,right?
I'm not sure if you got intosmall boutique hotel yet, but
that's what something that I'minterested in hearing about too.
So George, I want to welcome youto this podcast brother.
It is a pleasure.
I know we've been lookingforward to this, so I'm super
(01:12):
excited to be here with you,man.
Thank you.
Yes, sir.
Welcome, man.
lemme ask you before we get intothe meat and potato of your
story, man.
Do you have a favorite realestate quote or mantra that
drives you?
I do.
And.
Because of my trials andtribulations to get to where I'm
at today.
I always like to say, don't everlet anything or anyone stop you
(01:35):
from achieving your dreams.
Man, that's a good thing, man.
let's dissect that a little bitand talk about why that became
so important to you.
Was it based on a paradigm thatwas created for you or just a
realization that you made lateron in your life or early?
Yeah, I come from a third worldcountry hutch.
So I was born and raised inLima, Peru, but I grew up in an
(01:58):
Adobe house for many years.
So from 6 to the age of 15, Iwas living in a half, it was a
half a house, right?
Half of that, that house hadcollapsed because we were so
poor that the ceiling had acrack right.
And water came down.
The entire roof came down.
(02:19):
So I grew up very poor.
My humble beginnings taught me alesson, right?
So I worked very hard to get towhere I'm at.
And I think we're just at thebeginning, So anytime I talk to
someone that's just in anothersituation, whether they're in a.
Personal, rock bottom or in abusiness or financial rock
bottom.
I tell'em don't, if you've got adream, don't let anything come
(02:41):
in between you and that dream,So I have worked very hard and
as everybody out there knows,entrepreneurship is an up and
down journey, right?
For all of us, so sometimes wejust don't share that journey,
right?
We just tell everybody, theworld, all the awesome things we
do, but 97% of the things thatwe do are gonna have
(03:04):
difficulties.
Nothing comes like that.
So that's why I like to know andI like to tell people, just
don't let anything come inbetween you and your dreams.
Don't let anyone, no people, noperson, no ideas, nothing.
Yeah.
I like watching comedy from timeto time.
I like a good laugh, but alsolike comedian that really have
(03:27):
that really challenging a lot ofsocial and societal norms, but
also help us to laugh about someof those societal norms.
And one of my most favorite,comedy that I've watched
recently.
It was with Dave Chappelle.
He did a standup about being apowerful dreamer, and one of the
things he talk about, he saidthe person with the strongest
(03:49):
dream will always win.
And you also emphasize it'sreally important for you to
understand when you areaccomplishing your dreams and
when you are assisting somebodyelse in accomplishing theirs.
And that was such a powerfulparadigm shift for me because
(04:09):
when you think about the worldof capital raising A lot of
capital raisers focus on helpingothers accomplish something
massive.
You know what I mean?
Absolutely.
I think one of the things thatwe really need to be conscious
of is where and how does thatfit into our dream and.
(04:33):
Is our actions maximizing oureffort towards accomplishing our
dreams as well.
Because I'm all about, risingtides raise all ships.
So we help people accomplishtheir dream while we
accomplishing their dreams atthe same time, right?
Yes, that win-win situation.
But some folks just so focusedon doing this big thing.
Big thing.
Big thing.
(04:54):
They never really accomplishedthere.
Maybe small dreams or big dreamsover here.
You know what I'm saying?
So yeah, rising tides raise allships But it's really important
to know, whose dream you're in.
Is it yours or somebody else's?
Amen.
Amen.
Ambition is everything.
Yeah, right?
Dreaming is everything, but thenyou gotta get to the grind and
(05:16):
do little things one at a timeto get to that big dream.
So yeah, man.
All right, George, real quick,man, let's reverse engineer,$200
million in STR, rollup strategy,right?
So if you were tasked withacquiring, consolidating a
national STR brand, right?
Specifically targeting,service-based STR businesses
(05:40):
like property management,companies, What would that
playbook look like?
I love it.
I love it.
So let me break down a littlebit about, some context on
there, right?
I've got two big dreams as we'retalking about dreams, right?
Two big ambitious goals.
One of them is to build a realestate portfolio made out of
(06:00):
experiential short-term rentals.
And right along build out aservice-based business portfolio
that services The properties.
Yep.
Build them separately and sellthem separately and exit them to
an institutional buyer, aprivate equity or family office.
That's the two big dreams.
So just wanted to clear up sothat way we don't get confused
(06:21):
on what that is.
But if I was to reverse engineereither of those, I'll break it
down in 30 seconds each, for theportfolio, we have to get stable
growing NOI assets thatinstitutional buyers want.
They want recession resistantmarkets that are not unstable,
(06:41):
right?
They're gonna be growing in NOIlittle by little.
And they want bigger cash flow.
So we have to be a bit betterthan other asset classes.
So that's the goal when it comesto real estate, when it comes to
businesses, we have to acquirethese businesses at two to three
x multiples, right?
Be able to create and reverseengineer a strategy to go to IPO
(07:06):
or take the company public.
Take, you buy the businesses attwo to three x, you pretty much
roll them up we get with 25property management companies, I
own one myself.
I have partners that own one.
I have operators that arefriends that own the so us.
It's getting together.
Putting together contracts withthese property managers,
(07:27):
operators, and taking them to atrigger point where we get X
amount of EBITDA or profits, wewould take that company partner
with a team that specializes inroll-ups, and partner with them.
Partner with the operators andtake this company public, like a
(07:48):
VACASA, for example, right?
And these guys exited IPO, 19.7EBITDA of their multiple.
So we buy them a two to three Xof their.
Profits and we sell exit at, 15to 20 x.
That's the strategy for thebusinesses.
The portfolio is rolling up abunch of portfolios, having a
(08:10):
hundred million dollars worth ofreal estate buying one portfolio
or boutique hotel at a time.
'Cause they're in the samecategory, right?
30 units and below.
And creating such a large NOI,not 5 million, not 10 million,
50 to a hundred million.
And then exiting that portfolioso that, that's the simple
(08:31):
version in one and a halfminutes.
Appreciated that you, no, sir.
Thank you.
That was the second question Iwanted to ask you.
So let's go to the firstquestion.
You've build one of the mostsophisticated Experiential STR
model in the country, givenwhere the industry stands right
now in 2025, What do you believeis broken and where's the
biggest opportunity movingforward for STR?
(08:53):
What, let's break down.
what is the experiential STR, bythe way, let's break down that
model and then let's answer.
Answer that question.
Yes.
Thank you.
Experiential is a niche,short-term vacation rental model
that basically creates anexperience out of a common
regular property.
So you are dedicated to theguest creating an experience by
(09:15):
providing better amenities,better guest experience, and
actually charging premium.
So you take these 500 to amillion dollar houses, but you
do it with a strategy behind itof, Hey, I'm gonna go in there
and create a resort likeexperience for my guests with
top-notch customer service guestexperience, right?
(09:37):
That's what createsexperiential.
It's the asset.
The amenities and theexperience.
That's awesome.
Okay.
So what do you think is brokenand where's the biggest,
opportunity moving forward?
I love that question Sohonestly, what I think it's
broken in this industry rightnow is the fact that a lot of
operators come into the game,right?
(10:00):
And they think that they can.
make money with whateverproperty.
So they're mama pop operators,they just list their properties
and they, whether they're asingle family or small
multifamily, right?
And they list them on theseplatforms, but they do a
mediocre job.
That's 50%, maybe more.
Then you have another chunk.
(10:22):
30% 40% of people that come in,they do a great job also.
but.
Their properties don't create anexperience.
So what has happened is themarket has actually become
saturated with these mediocreproperties, A lot of people are
losing money.
Ak 50% of the people out there,in my opinion, because of
(10:42):
interest rates prices, insuranceprices, they're just breaking
even.
Because they're not, trueoperators, you're not creating
an experience.
At the end of the day, when youcreate an experience for your
customer, this is just business1 0 1, right?
When you create an experienceand you take the customer
through an amazing journey byproviding a great product in
(11:03):
your business, they're gonnalove you.
Most people don't know how to dothat just because this
industry's newer.
So we've, this industry hasbecome a bit saturated with.
Mediocre properties.
So now the true operators aregetting a bad name.
Like us.
So as the industry shifts andpivots into a more mature
(11:23):
industry, things will change.
I think we're starting to getthe word out that you've gotta
be a professional if you're inthe space.
'cause this only 10, 12 yearsold.
That's it.
It's 10 years old since we, wehave true data 2015.
We're in 2025 today.
I feel like that's what'sbroken.
So also there's a fight betweenHOAs, and the cities.
(11:48):
And this model.
So that is also becoming a norm,right?
So once all of that goes away,AK wants the industry matures.
Things will be more stable in myeyes.
But I believe that usmillennials right, are the
center of this industry, right?
Because we are the largestconsumer group.
(12:08):
No, I got you, man.
Now what are some of thoseamenities that you are putting
into to make this experiential,STRs?
love the question.
So gimme give you an example.
We recently finished a project,we threw in a pickleball court.
We built a 11 foot kids poolnext to the regular pool, both
(12:30):
heated, right?
the backyard of this propertyhad absolutely nothing.
It didn't even have a heater.
So we added the heatingcomponent.
We built an outdoor kitchen,right?
and then we put tons of reallygood furniture, awesome
furniture games.
An area for the ladies to dotheir makeup and kind of get
ready in a space that wasn'tbeing used.
(12:52):
Yeah.
With mirrors, colorful stuff,really colorful walls, stuff
like that.
Pickleball courts, basketballcourts, sports courts.
outdoor seating, outdoors,anything outdoor.
Depending on where you are.
maybe not New York or not inwhat is really cold.
not up north, but anythingoutdoor like Hawaii where you're
(13:13):
at, right?
Build an experience.
So the winners, the true winnersare those operators who are
buying affordable real estatewith a lot of land and creating
an experience with affordablereal estate, not the ones that
are buying.
$5 million properties.
'cause your mortgage is gonna belike 500 grand, or 300 grand or
(13:37):
whatever it is a year, right?
So it's harder to win if you dothat.
So that's the answer for that.
I got you, man.
Now, no.
I'm also a real estate agentover here in Hawaii.
Just walking with, buyers,through the prequalification
process to, to be able topurchase a home or an investment
property.
It's challenging for somepeople.
(13:58):
Right.
you are an expert in raisingcapital and structuring fund,
right?
So when launching ExpressCapital, how did you design the
capital stack to align incentivebetween you, your LPs and the
JVs partner?
And these are important, forpeople to get to understand that
if they change theirrelationship with money and look
at a win-win model, right?
(14:20):
Then they too can potentiallyrealize.
Can realize their dreams ofbecoming a investor in a whole
different level.
I love it, man.
I love the fact that you'regoing deep, man.
I truly do.
So Empress Capital, right?
Empress Capital was born with adream of creating passive
(14:43):
income, a dream and ambition,right?
Creating passive income to thismodel that we've been doing for
a decade almost, right?
and then at first I was like.
Okay, George, how do I attractbigger check writers?
How do I attract fund managers,capital raisers to partner with
us?
Okay.
I came out first and I wentthrough, you and I met through
(15:05):
our mastermind.
Of course.
Yeah.
That's exactly what I was doingwith every single coach, every
day for like four or fivemonths.
I know.
I remember.
Oh yeah.
I asked all of them and I'mlike, how did you structure, how
did you do it to attract X?
How did you attract fundmanager?
How do you attract, how do youmake it more attractive so that
other people can partner withyou?
(15:26):
The veridic was create bettereconomics for them, way better
so that they can pass downbetter economics to their
investors than if they camedirectly through you.
So we did that by creatingdifferent share classes, And in
creating incentives on the top,on the bigger share class.
(15:47):
Those incentives align with thefund managers or capital raisers
so that they can make a nicehefty sum for putting together
the deal and their investorsmake more than if those
investors came directly throughus.
We get to do what we do right,which is create experiential
(16:08):
amazing short-term rentals.
and then everybody wins.
And I love that man.
I've seen some projects wherefolks are looking for capital
raises.
However, when I look throughwhat they're offering, I can't
justify, I was not able tojustify bringing those project
to my investors, right?
(16:29):
Because running a fund is notfree.
It's inexpensive.
It's not super expensive attimes, right?
I guess it depends on the scaleof which you want to go.
however, it's not free.
So the economics has to makesense for the income to be able
to pay for the fund and also tomake an income for themself.
(16:49):
What I'm seeing is that a lot offolks, the same returns that
they're offering their investorsis really challenging to break
out as a fund manager.
So a fund manager managing afund and doing deal with some of
these operator does not makesense.
so it's good that you're able tocreate that different class of
shares, to make it, make sensefor your fund manager.
(17:12):
Now, If you listen to thispodcast, you're thinking about
STR and if you're in real estatefor a while and you've been
focusing on buying single familyor house, whether it's be you
buy long term rental or you'redoing fix and flip, you
understand.
That the value of the propertyis based on the comparative
market analysis in theneighborhood.
(17:33):
Pretty much what your neighbor'sselling the house for will
justify what your house isvalued at.
However, George, you are puttingin a lot of amenity into these
properties, How are youjustifying, what some folks
would call an over improving aproperty for a neighborhood or a
community, right?
How do you, justify those kindof, big improvement to give that
(17:56):
experience for your guests?
Yes, absolutely.
So the number one way, it'sjustified is that it doubles to
triples the cash flow.
Same property, same everything.
We put in an extra, call it ahundred thousand dollars for the
sake of even numbers, right?
(18:16):
That creates an extra 50 to$75,000.
More in net cash flow.
That's justification number one,cash flow justification number
two is that we're not drivingand buying these properties to
sell them as an asset on theMLS.
There you go.
We are consolidating portfoliosand putting them in front of
(18:39):
these larger private equityinstitutional buyers to sell'em
at a cap rate.
we're underwriting at 11% caprate, not too shabby.
Market is selling at five toseven.
It's the beginning of this stormright now.
Institutional buyers are justgetting into the short term
rental game, right?
(19:00):
So we're positioning ourselves.
We're already reverse engineerby finding the buyers.
Now, AK reverse engineered theentire thing and positioning the
NOI.
Slowly on the growth findingaffordable real estate that's
more recession resistant, thatdoesn't go up and down on swings
and it doesn't crash, right?
(19:21):
Increasing the NOI over time.
Slowly but surely.
So that's the otherjustification.
So three simple points.
I love your questions, man.
Thanks.
I appreciate the inside depththere.
That No, I got you, man.
Now, so this is the lastquestion before we get into
focus round brother.
And let's talk about, tactical,being a tactical person, you are
(19:41):
currently looking for national,real estate brokerage partners.
Is that still a thing?
yes.
And fund managers.
Okay.
All right.
So what does the ideal partnerlook like, for your vision and
what value would they bring tothe table?
Or do they need to bring to thetable for you as a fund manager
or a broker?
(20:02):
Absolutely.
So ideally experience andstructuring deals, right?
Because I've worked with fundmanagers that are newbies and
it's very difficult to.
Coach them through everything.
And I'm not saying I don't liketo, but at this point, we have
limited infrastructure to coachthem.
Now as we grow, we could do thebeginners, but as of right now,
(20:26):
we want a bit of experience.
Raise$1 million or more.
As a broker, our broker is ourpartner in the sense that we
could partner up with their,broker license in order to
scale.
Not the acquisition ofproperties, the property
management acquisitionportfolios, right?
the rest is, ideally they haveto be hungry, ambitious, meet
(20:49):
the core values, right?
Be like us, and, they have to beinto.
like growth and lifestyle in,building an empire.
Like we just wanna connect withpeople that are like-minded,
right?
people that have, I have afamily, so I wanna hang out with
people that have kids, so wecould talk about things, right?
Because these people are ourfriends.
(21:10):
Yeah.
No doubt, right?
They become our friends.
At the end of the day, you'redoing business, but the best
business partners are the onesyou're always building a
relationship with.
Yeah, no doubt.
All right, man.
So we gonna roll right into thefocus round.
I also wanna be respectful ofyour time as well, Yes, sir.
A focus run is like a, we call afire round, spell out the
acronym focus, right?
(21:30):
So the first one is fun.
what do you do for fun?
My wife and I and our son, welove to just take spontaneous
travel trips.
So what we do is we wait for, weplan our conferences, but the
spontaneous trips is waitinguntil last minute.
Schedules sometimes get open,right?
(21:51):
Meaning the calendar doesn't getbooked in the low season and in
the midseason.
So we wanna travel to thatproperty to do two things.
One is enjoy the weekend for aminute, right?
So we take our son and whilewe're there.
We set up teams to go help us doasset management.
So I'm literally in the pool, inthe hot tub telling people what
(22:12):
to do.
Or I'm like sitting down tellingpeople what to do.
And my wife, obviously, she runsoperations.
She's just running all over theplace.
So we take and take advantage ofthe lifestyle factor of our
properties in our portfolio.
So we're building that.
We love that.
gym health is important for me.
So gym and health are my numberone priority.
(22:33):
'cause I wanna live to 180.
I'm a biohacker.
180.
as per Dave Asprey, mybiohacker, hero 180, that's what
he says, live to 180.
So my mission is to live to 180.
I'm going to, I'm, my goal is 123.
1 23.
I love it.
1 23 years old.
Very specific.
That takes me into the next,what's that next century.
(22:58):
2100.
Yeah.
Yeah.
Love it.
Somewhere around there.
Okay.
So I heard that from, thestrategic coach.
it talks about, this lifeexpectancy that they have placed
on us.
When you ask somebody how longyou plan on living 80, that's
the good number.
Think about, yourself at seven,nine years old.
What do you like?
What is your wealth like?
(23:19):
What is your relationship like?
What is your health like and noone picture themself, towards
the end of their life being weakand feeble.
They picture themself as beingvibrant.
The wits about them, greatrelationship, good finances.
And then when you pictureyourself like that, just think
about if you have that muchvitality, how much longer do you
think you'll live?
(23:40):
a lot of people talk, 10, 15years, and if you keep doing
that and you keep prolongingyour life, then you keep doing
things to where you will, Ithink, eventually achieve a
longer life than the lifeexpectancy that BS that they try
to feed on us.
Anyway.
What was one opportunity thatwas a game changer for you?
(24:02):
Being able to transition fromonly operator, To deal structure
architect.
By being able to structurelarger projects, our fund
creating two to$5 millionpartnerships with fund managers
and capital, that's what we'redoing now.
We have Several partnerships ofthat magnitude.
(24:25):
So going from running operationsof a portfolio of short-term
rentals of our own and raisingcapital at a small one deal at a
time cycle to putting together Ascalable structure that allows
us to buy a$15 million portfolioor 20 million.
Right now we're buying a$12million portfolio.
That was a game changer becauseit immediately put me on another
(24:48):
level of thinking.
The second game changer wasjoining Raise Masters.
So that opened the entire worldbecause I came into there
saying, I'm gonna raise 500 to amillion dollars.
now we're doing 10, 12,$15million deals.
But when I was thinking beforethat was lemme just raise a
(25:09):
little bit of money.
I wanna scale our portfolio byraising money from other people,
passive investors.
Now I'm like, let me partnerwith this$5 million partner.
Let me build this$200 millionportfolio.
So your thinking opens up onceyou go into another room.
A 100%.
research has shown that if youare around, high achievers, your
(25:31):
productivity will increasedrastically.
So I think that's what race massdo does for us.
be in the room with people thateven if there are people there
that, that are just startingout, right?
Raise master is not cheap.
So just starting out in RaiseMasters is, not for the faint of
heart or somebody that's totallybroke, You need to have some
(25:52):
capital, some working capital,and it's important that you have
a big vision and be willing totalk about it, that's a dreamer
again, man, that dreamer, yougot your dream.
Other people got their dream.
How can how dreams come togetherand make something amazing?
You know what I mean?
So yeah, raise mastersdefinitely has been a catalyst
for a lot of us, What would yousay is your best communication
(26:13):
tip?
Best communication tip is overcommunicate, okay?
No matter what.
Outreach over partnerships,wife, son.
Friends over communicate.
And when you over communicate,bring vibrancy.
(26:34):
Into that communication brother,it's great to have connected
with you.
Hey, here's what we talkedabout.
I send usually voice messages,videos to people like my
partners.
They send me voice message overcommunicate.
'cause if you write a text,boom, little, right.
Two, one to three words thatcould get lost in translation.
Yeah.
But when you say.
(26:55):
Every point in one minute, theyhave a minute to watch that.
So if you over communicate, yougo much farther in terms of the
relationship than if you undercommunicate.
Man, that's an amazing strategy,man.
I love it.
Thank you.
I love it.
some folks have sent me videomessages on LinkedIn and I find
myself, if I can see theirpicture, then I will click on
(27:16):
it, but I don't click on randomlinks.
but those people that send mevideos, I watch every single
minute of it.
And you get to almost feel theirenergy, Of what they're trying
to communicate to you versus atext.
Yeah.
Because I think emotions can belost.
What is one thing you wishyou've understood earlier.
George, man, thank you for thatquestion.
(27:37):
I honestly, wish that Iunderstood the vision of things
and to being able learn.
Growth and learning.
I started too late.
no, I started way later than Ishould have started.
Okay.
Not too late.
It's never too late.
I literally started in thisworld of personal development,
(27:57):
self-development, growth,ambition.
I was always ambition, but I hadno knowledge or skills of what
could be possible.
So I started at about 33, I'm 40now.
If I would've just taken thatback five years.
but it's still not too late.
Many people start later than Iam, but when I look at it, I'm
(28:19):
like, if I started then, buteverything is part of your
journey, right?
It is.
Yeah.
So it doesn't matter, but that'sone thing I would pivot just to
learn faster, right?
and before,'cause I made a lotof mistakes, but those mistakes
also became part of who I amtoday.
Gotcha.
And when I think about myyounger self is that, sometimes
(28:42):
we were not mature enough, wewere not ready for the level of
thinking that we have now, andthe things that are important to
us now, we were not ready forthat 10 years ago.
Our focus was a little bitdifferent.
So even if our future self cameback and told us something, we
caught up in, our hype orfriends and all that good stuff,
(29:03):
so we were probably not matureenough, for this level of
thinking.
Yeah.
I agree.
I agree totally.
That makes perfect sense, man.
Yes, sir.
last question, brother.
in a focus round.
What do you attribute yourconsistent momentum and success?
I Love it.
(29:23):
I would have to say that mycontinuous drive for personal
development, because most peoplegrind.
They could be successful, butthey don't take care of.
Themselves, number one.
So number one, you're buildingyour infrastructure.
It's like having a house with nofoundation, right?
(29:44):
I wish I would've startedearlier.
'cause I now I see the explosionin the last seven years.
What if I did that five yearsago, right?
Five years before that.
But personal development, mindmission, drive, goals, health.
That is a foundation ofeverything, because if you don't
have your health, you can't win,right?
(30:05):
You might win temporarily, butyou'll crash and burn a hundred
percent.
So every single day I've got myroutine down in 2025 with AI has
been a game changer because itmade my decent routine into a 10
x.
So I'm gonna leave it rightthere, brother.
(30:26):
No, I got you, man.
I appreciate that.
Yeah.
So glad that you bring in ai.
We have a summit, the first,owner, of America's Summit for
2025 coming up on May 23rd Andthat's one of the things we're
gonna talk about.
We got Catherine Bell, one ofher coaches in Raise Master.
Coming to talk about, AI.
We also have Hollis coming totalk about bots to be able to
(30:47):
build credibility.
We have, Adrian coming to talkabout branding and we have Ben
Fraser gonna bring some surpriseinformation.
to include a fund that we'regonna roll out as well.
And we also have our fearlessleader, Hunter Thompson, as one
of our speakers Wow I'm superexcited.
(31:08):
Incredible.
The own more of America's Summithere in on May 23rd.
I am so ready for it.
Send me some information, let'sgo.
Yeah, I sure will, man.
Yes, it's gonna be exciting.
So we're building it out rightnow, and by the end of this
week, we should be pushing out,so by next week.
So by the time this podcastepisode release next week, we
(31:28):
should be pushing out thesummit.
We also pushing out a coupledifferent bonus along with it as
well.
A couple different, a couple ofresources that I've been working
on for months.
that is tailored towardsaccredited investor, our
military veterans who areaccredited, invested, and own a
small business, so there's gonnabe some exciting information
that, that we're rolling out, soGeorge.
(31:49):
Amazing.
I want to thank you, brother.
Thank you so much for spending.
Spend some time with us thismorning to talk about, short
term rental, STR, and man.
If our audience want to get intouch with you, what is the best
way for them to do that?
Absolutely.
So George Salas 3 6 0 has all mysocial medias right?
(32:10):
I am most active on LinkedIn, soyou click on the LinkedIn button
right there.
And I've also got acomplimentary masterclass that I
put together, that talks aboutour short-term rental model
there as well.
Awesome, man.
Appreciate you, brother.
Alright, thank you so muchbrother, for joining us.
Thank you.
And listeners, thank you forspending the time with us with
(32:31):
another episode of theMultifamily Real Estate
Experiment, podcast.
Until next time, I'm Hutch theMarine investor out.
Wah Gwaan all you multifamily enthusiast.
(00:03):
Welcome to another powerfulepisode of the Multifamily Real
Estate Experiment podcast.
I'm your host, ShalonHutchinson.
If you've been connected with mefor a long time, you know me as
Hutch the Marine Investor, andtoday our guest is a visionary
in the world of short termrental capital and capital
structuring.
George Salas is the founder ofExpress Capital and.
(00:27):
a fund manager And the architectof experiential, STR portfolio
with over 130 plus transactionand millions of dollars raised
in capital and a verticalintegrated platform.
George is redefining how STR isacquired and scale, and I'm
(00:50):
really excited to hear aboutthis one because look where most
people are trying to buy as ahouse.
He's trying to buy many houses,right?
I'm not sure if you got intosmall boutique hotel yet, but
that's what something that I'minterested in hearing about too.
So George, I want to welcome youto this podcast brother.
It is a pleasure.
I know we've been lookingforward to this, so I'm super
(01:12):
excited to be here with you,man.
Thank you.
Yes, sir.
Welcome, man.
lemme ask you before we get intothe meat and potato of your
story, man.
Do you have a favorite realestate quote or mantra that
drives you?
I do.
And.
Because of my trials andtribulations to get to where I'm
at today.
I always like to say, don't everlet anything or anyone stop you
(01:35):
from achieving your dreams.
Man, that's a good thing, man.
let's dissect that a little bitand talk about why that became
so important to you.
Was it based on a paradigm thatwas created for you or just a
realization that you made lateron in your life or early?
Yeah, I come from a third worldcountry hutch.
So I was born and raised inLima, Peru, but I grew up in an
(01:58):
Adobe house for many years.
So from 6 to the age of 15, Iwas living in a half, it was a
half a house, right?
Half of that, that house hadcollapsed because we were so
poor that the ceiling had acrack right.
And water came down.
The entire roof came down.
(02:19):
So I grew up very poor.
My humble beginnings taught me alesson, right?
So I worked very hard to get towhere I'm at.
And I think we're just at thebeginning, So anytime I talk to
someone that's just in anothersituation, whether they're in a.
Personal, rock bottom or in abusiness or financial rock
bottom.
I tell'em don't, if you've got adream, don't let anything come
(02:41):
in between you and that dream,So I have worked very hard and
as everybody out there knows,entrepreneurship is an up and
down journey, right?
For all of us, so sometimes wejust don't share that journey,
right?
We just tell everybody, theworld, all the awesome things we
do, but 97% of the things thatwe do are gonna have
(03:04):
difficulties.
Nothing comes like that.
So that's why I like to know andI like to tell people, just
don't let anything come inbetween you and your dreams.
Don't let anyone, no people, noperson, no ideas, nothing.
Yeah.
I like watching comedy from timeto time.
I like a good laugh, but alsolike comedian that really have
(03:27):
that really challenging a lot ofsocial and societal norms, but
also help us to laugh about someof those societal norms.
And one of my most favorite,comedy that I've watched
recently.
It was with Dave Chappelle.
He did a standup about being apowerful dreamer, and one of the
things he talk about, he saidthe person with the strongest
(03:49):
dream will always win.
And you also emphasize it'sreally important for you to
understand when you areaccomplishing your dreams and
when you are assisting somebodyelse in accomplishing theirs.
And that was such a powerfulparadigm shift for me because
(04:09):
when you think about the worldof capital raising A lot of
capital raisers focus on helpingothers accomplish something
massive.
You know what I mean?
Absolutely.
I think one of the things thatwe really need to be conscious
of is where and how does thatfit into our dream and.
(04:33):
Is our actions maximizing oureffort towards accomplishing our
dreams as well.
Because I'm all about, risingtides raise all ships.
So we help people accomplishtheir dream while we
accomplishing their dreams atthe same time, right?
Yes, that win-win situation.
But some folks just so focusedon doing this big thing.
Big thing.
Big thing.
(04:54):
They never really accomplishedthere.
Maybe small dreams or big dreamsover here.
You know what I'm saying?
So yeah, rising tides raise allships But it's really important
to know, whose dream you're in.
Is it yours or somebody else's?
Amen.
Amen.
Ambition is everything.
Yeah, right?
Dreaming is everything, but thenyou gotta get to the grind and
(05:16):
do little things one at a timeto get to that big dream.
So yeah, man.
All right, George, real quick,man, let's reverse engineer,$200
million in STR, rollup strategy,right?
So if you were tasked withacquiring, consolidating a
national STR brand, right?
Specifically targeting,service-based STR businesses
(05:40):
like property management,companies, What would that
playbook look like?
I love it.
I love it.
So let me break down a littlebit about, some context on
there, right?
I've got two big dreams as we'retalking about dreams, right?
Two big ambitious goals.
One of them is to build a realestate portfolio made out of
(06:00):
experiential short-term rentals.
And right along build out aservice-based business portfolio
that services The properties.
Yep.
Build them separately and sellthem separately and exit them to
an institutional buyer, aprivate equity or family office.
That's the two big dreams.
So just wanted to clear up sothat way we don't get confused
(06:21):
on what that is.
But if I was to reverse engineereither of those, I'll break it
down in 30 seconds each, for theportfolio, we have to get stable
growing NOI assets thatinstitutional buyers want.
They want recession resistantmarkets that are not unstable,
(06:41):
right?
They're gonna be growing in NOIlittle by little.
And they want bigger cash flow.
So we have to be a bit betterthan other asset classes.
So that's the goal when it comesto real estate, when it comes to
businesses, we have to acquirethese businesses at two to three
x multiples, right?
Be able to create and reverseengineer a strategy to go to IPO
(07:06):
or take the company public.
Take, you buy the businesses attwo to three x, you pretty much
roll them up we get with 25property management companies, I
own one myself.
I have partners that own one.
I have operators that arefriends that own the so us.
It's getting together.
Putting together contracts withthese property managers,
(07:27):
operators, and taking them to atrigger point where we get X
amount of EBITDA or profits, wewould take that company partner
with a team that specializes inroll-ups, and partner with them.
Partner with the operators andtake this company public, like a
(07:48):
VACASA, for example, right?
And these guys exited IPO, 19.7EBITDA of their multiple.
So we buy them a two to three Xof their.
Profits and we sell exit at, 15to 20 x.
That's the strategy for thebusinesses.
The portfolio is rolling up abunch of portfolios, having a
(08:10):
hundred million dollars worth ofreal estate buying one portfolio
or boutique hotel at a time.
'Cause they're in the samecategory, right?
30 units and below.
And creating such a large NOI,not 5 million, not 10 million,
50 to a hundred million.
And then exiting that portfolioso that, that's the simple
(08:31):
version in one and a halfminutes.
Appreciated that you, no, sir.
Thank you.
That was the second question Iwanted to ask you.
So let's go to the firstquestion.
You've build one of the mostsophisticated Experiential STR
model in the country, givenwhere the industry stands right
now in 2025, What do you believeis broken and where's the
biggest opportunity movingforward for STR?
(08:53):
What, let's break down.
what is the experiential STR, bythe way, let's break down that
model and then let's answer.
Answer that question.
Yes.
Thank you.
Experiential is a niche,short-term vacation rental model
that basically creates anexperience out of a common
regular property.
So you are dedicated to theguest creating an experience by
(09:15):
providing better amenities,better guest experience, and
actually charging premium.
So you take these 500 to amillion dollar houses, but you
do it with a strategy behind itof, Hey, I'm gonna go in there
and create a resort likeexperience for my guests with
top-notch customer service guestexperience, right?
(09:37):
That's what createsexperiential.
It's the asset.
The amenities and theexperience.
That's awesome.
Okay.
So what do you think is brokenand where's the biggest,
opportunity moving forward?
I love that question Sohonestly, what I think it's
broken in this industry rightnow is the fact that a lot of
operators come into the game,right?
(10:00):
And they think that they can.
make money with whateverproperty.
So they're mama pop operators,they just list their properties
and they, whether they're asingle family or small
multifamily, right?
And they list them on theseplatforms, but they do a
mediocre job.
That's 50%, maybe more.
Then you have another chunk.
(10:22):
30% 40% of people that come in,they do a great job also.
but.
Their properties don't create anexperience.
So what has happened is themarket has actually become
saturated with these mediocreproperties, A lot of people are
losing money.
Ak 50% of the people out there,in my opinion, because of
(10:42):
interest rates prices, insuranceprices, they're just breaking
even.
Because they're not, trueoperators, you're not creating
an experience.
At the end of the day, when youcreate an experience for your
customer, this is just business1 0 1, right?
When you create an experienceand you take the customer
through an amazing journey byproviding a great product in
(11:03):
your business, they're gonnalove you.
Most people don't know how to dothat just because this
industry's newer.
So we've, this industry hasbecome a bit saturated with.
Mediocre properties.
So now the true operators aregetting a bad name.
Like us.
So as the industry shifts andpivots into a more mature
(11:23):
industry, things will change.
I think we're starting to getthe word out that you've gotta
be a professional if you're inthe space.
'cause this only 10, 12 yearsold.
That's it.
It's 10 years old since we, wehave true data 2015.
We're in 2025 today.
I feel like that's what'sbroken.
So also there's a fight betweenHOAs, and the cities.
(11:48):
And this model.
So that is also becoming a norm,right?
So once all of that goes away,AK wants the industry matures.
Things will be more stable in myeyes.
But I believe that usmillennials right, are the
center of this industry, right?
Because we are the largestconsumer group.
(12:08):
No, I got you, man.
Now what are some of thoseamenities that you are putting
into to make this experiential,STRs?
love the question.
So gimme give you an example.
We recently finished a project,we threw in a pickleball court.
We built a 11 foot kids poolnext to the regular pool, both
(12:30):
heated, right?
the backyard of this propertyhad absolutely nothing.
It didn't even have a heater.
So we added the heatingcomponent.
We built an outdoor kitchen,right?
and then we put tons of reallygood furniture, awesome
furniture games.
An area for the ladies to dotheir makeup and kind of get
ready in a space that wasn'tbeing used.
(12:52):
Yeah.
With mirrors, colorful stuff,really colorful walls, stuff
like that.
Pickleball courts, basketballcourts, sports courts.
outdoor seating, outdoors,anything outdoor.
Depending on where you are.
maybe not New York or not inwhat is really cold.
not up north, but anythingoutdoor like Hawaii where you're
(13:13):
at, right?
Build an experience.
So the winners, the true winnersare those operators who are
buying affordable real estatewith a lot of land and creating
an experience with affordablereal estate, not the ones that
are buying.
$5 million properties.
'cause your mortgage is gonna belike 500 grand, or 300 grand or
(13:37):
whatever it is a year, right?
So it's harder to win if you dothat.
So that's the answer for that.
I got you, man.
Now, no.
I'm also a real estate agentover here in Hawaii.
Just walking with, buyers,through the prequalification
process to, to be able topurchase a home or an investment
property.
It's challenging for somepeople.
(13:58):
Right.
you are an expert in raisingcapital and structuring fund,
right?
So when launching ExpressCapital, how did you design the
capital stack to align incentivebetween you, your LPs and the
JVs partner?
And these are important, forpeople to get to understand that
if they change theirrelationship with money and look
at a win-win model, right?
(14:20):
Then they too can potentiallyrealize.
Can realize their dreams ofbecoming a investor in a whole
different level.
I love it, man.
I love the fact that you'regoing deep, man.
I truly do.
So Empress Capital, right?
Empress Capital was born with adream of creating passive
(14:43):
income, a dream and ambition,right?
Creating passive income to thismodel that we've been doing for
a decade almost, right?
and then at first I was like.
Okay, George, how do I attractbigger check writers?
How do I attract fund managers,capital raisers to partner with
us?
Okay.
I came out first and I wentthrough, you and I met through
(15:05):
our mastermind.
Of course.
Yeah.
That's exactly what I was doingwith every single coach, every
day for like four or fivemonths.
I know.
I remember.
Oh yeah.
I asked all of them and I'mlike, how did you structure, how
did you do it to attract X?
How did you attract fundmanager?
How do you attract, how do youmake it more attractive so that
other people can partner withyou?
(15:26):
The veridic was create bettereconomics for them, way better
so that they can pass downbetter economics to their
investors than if they camedirectly through you.
So we did that by creatingdifferent share classes, And in
creating incentives on the top,on the bigger share class.
(15:47):
Those incentives align with thefund managers or capital raisers
so that they can make a nicehefty sum for putting together
the deal and their investorsmake more than if those
investors came directly throughus.
We get to do what we do right,which is create experiential
(16:08):
amazing short-term rentals.
and then everybody wins.
And I love that man.
I've seen some projects wherefolks are looking for capital
raises.
However, when I look throughwhat they're offering, I can't
justify, I was not able tojustify bringing those project
to my investors, right?
(16:29):
Because running a fund is notfree.
It's inexpensive.
It's not super expensive attimes, right?
I guess it depends on the scaleof which you want to go.
however, it's not free.
So the economics has to makesense for the income to be able
to pay for the fund and also tomake an income for themself.
(16:49):
What I'm seeing is that a lot offolks, the same returns that
they're offering their investorsis really challenging to break
out as a fund manager.
So a fund manager managing afund and doing deal with some of
these operator does not makesense.
so it's good that you're able tocreate that different class of
shares, to make it, make sensefor your fund manager.
(17:12):
Now, If you listen to thispodcast, you're thinking about
STR and if you're in real estatefor a while and you've been
focusing on buying single familyor house, whether it's be you
buy long term rental or you'redoing fix and flip, you
understand.
That the value of the propertyis based on the comparative
market analysis in theneighborhood.
(17:33):
Pretty much what your neighbor'sselling the house for will
justify what your house isvalued at.
However, George, you are puttingin a lot of amenity into these
properties, How are youjustifying, what some folks
would call an over improving aproperty for a neighborhood or a
community, right?
How do you, justify those kindof, big improvement to give that
(17:56):
experience for your guests?
Yes, absolutely.
So the number one way, it'sjustified is that it doubles to
triples the cash flow.
Same property, same everything.
We put in an extra, call it ahundred thousand dollars for the
sake of even numbers, right?
(18:16):
That creates an extra 50 to$75,000.
More in net cash flow.
That's justification number one,cash flow justification number
two is that we're not drivingand buying these properties to
sell them as an asset on theMLS.
There you go.
We are consolidating portfoliosand putting them in front of
(18:39):
these larger private equityinstitutional buyers to sell'em
at a cap rate.
we're underwriting at 11% caprate, not too shabby.
Market is selling at five toseven.
It's the beginning of this stormright now.
Institutional buyers are justgetting into the short term
rental game, right?
(19:00):
So we're positioning ourselves.
We're already reverse engineerby finding the buyers.
Now, AK reverse engineered theentire thing and positioning the
NOI.
Slowly on the growth findingaffordable real estate that's
more recession resistant, thatdoesn't go up and down on swings
and it doesn't crash, right?
(19:21):
Increasing the NOI over time.
Slowly but surely.
So that's the otherjustification.
So three simple points.
I love your questions, man.
Thanks.
I appreciate the inside depththere.
That No, I got you, man.
Now, so this is the lastquestion before we get into
focus round brother.
And let's talk about, tactical,being a tactical person, you are
(19:41):
currently looking for national,real estate brokerage partners.
Is that still a thing?
yes.
And fund managers.
Okay.
All right.
So what does the ideal partnerlook like, for your vision and
what value would they bring tothe table?
Or do they need to bring to thetable for you as a fund manager
or a broker?
(20:02):
Absolutely.
So ideally experience andstructuring deals, right?
Because I've worked with fundmanagers that are newbies and
it's very difficult to.
Coach them through everything.
And I'm not saying I don't liketo, but at this point, we have
limited infrastructure to coachthem.
Now as we grow, we could do thebeginners, but as of right now,
(20:26):
we want a bit of experience.
Raise$1 million or more.
As a broker, our broker is ourpartner in the sense that we
could partner up with their,broker license in order to
scale.
Not the acquisition ofproperties, the property
management acquisitionportfolios, right?
the rest is, ideally they haveto be hungry, ambitious, meet
(20:49):
the core values, right?
Be like us, and, they have to beinto.
like growth and lifestyle in,building an empire.
Like we just wanna connect withpeople that are like-minded,
right?
people that have, I have afamily, so I wanna hang out with
people that have kids, so wecould talk about things, right?
Because these people are ourfriends.
(21:10):
Yeah.
No doubt, right?
They become our friends.
At the end of the day, you'redoing business, but the best
business partners are the onesyou're always building a
relationship with.
Yeah, no doubt.
All right, man.
So we gonna roll right into thefocus round.
I also wanna be respectful ofyour time as well, Yes, sir.
A focus run is like a, we call afire round, spell out the
acronym focus, right?
(21:30):
So the first one is fun.
what do you do for fun?
My wife and I and our son, welove to just take spontaneous
travel trips.
So what we do is we wait for, weplan our conferences, but the
spontaneous trips is waitinguntil last minute.
Schedules sometimes get open,right?
(21:51):
Meaning the calendar doesn't getbooked in the low season and in
the midseason.
So we wanna travel to thatproperty to do two things.
One is enjoy the weekend for aminute, right?
So we take our son and whilewe're there.
We set up teams to go help us doasset management.
So I'm literally in the pool, inthe hot tub telling people what
(22:12):
to do.
Or I'm like sitting down tellingpeople what to do.
And my wife, obviously, she runsoperations.
She's just running all over theplace.
So we take and take advantage ofthe lifestyle factor of our
properties in our portfolio.
So we're building that.
We love that.
gym health is important for me.
So gym and health are my numberone priority.
(22:33):
'cause I wanna live to 180.
I'm a biohacker.
180.
as per Dave Asprey, mybiohacker, hero 180, that's what
he says, live to 180.
So my mission is to live to 180.
I'm going to, I'm, my goal is 123.
1 23.
I love it.
1 23 years old.
Very specific.
That takes me into the next,what's that next century.
(22:58):
2100.
Yeah.
Yeah.
Love it.
Somewhere around there.
Okay.
So I heard that from, thestrategic coach.
it talks about, this lifeexpectancy that they have placed
on us.
When you ask somebody how longyou plan on living 80, that's
the good number.
Think about, yourself at seven,nine years old.
What do you like?
What is your wealth like?
(23:19):
What is your relationship like?
What is your health like and noone picture themself, towards
the end of their life being weakand feeble.
They picture themself as beingvibrant.
The wits about them, greatrelationship, good finances.
And then when you pictureyourself like that, just think
about if you have that muchvitality, how much longer do you
think you'll live?
(23:40):
a lot of people talk, 10, 15years, and if you keep doing
that and you keep prolongingyour life, then you keep doing
things to where you will, Ithink, eventually achieve a
longer life than the lifeexpectancy that BS that they try
to feed on us.
Anyway.
What was one opportunity thatwas a game changer for you?
(24:02):
Being able to transition fromonly operator, To deal structure
architect.
By being able to structurelarger projects, our fund
creating two to$5 millionpartnerships with fund managers
and capital, that's what we'redoing now.
We have Several partnerships ofthat magnitude.
(24:25):
So going from running operationsof a portfolio of short-term
rentals of our own and raisingcapital at a small one deal at a
time cycle to putting together Ascalable structure that allows
us to buy a$15 million portfolioor 20 million.
Right now we're buying a$12million portfolio.
That was a game changer becauseit immediately put me on another
(24:48):
level of thinking.
The second game changer wasjoining Raise Masters.
So that opened the entire worldbecause I came into there
saying, I'm gonna raise 500 to amillion dollars.
now we're doing 10, 12,$15million deals.
But when I was thinking beforethat was lemme just raise a
(25:09):
little bit of money.
I wanna scale our portfolio byraising money from other people,
passive investors.
Now I'm like, let me partnerwith this$5 million partner.
Let me build this$200 millionportfolio.
So your thinking opens up onceyou go into another room.
A 100%.
research has shown that if youare around, high achievers, your
(25:31):
productivity will increasedrastically.
So I think that's what race massdo does for us.
be in the room with people thateven if there are people there
that, that are just startingout, right?
Raise master is not cheap.
So just starting out in RaiseMasters is, not for the faint of
heart or somebody that's totallybroke, You need to have some
(25:52):
capital, some working capital,and it's important that you have
a big vision and be willing totalk about it, that's a dreamer
again, man, that dreamer, yougot your dream.
Other people got their dream.
How can how dreams come togetherand make something amazing?
You know what I mean?
So yeah, raise mastersdefinitely has been a catalyst
for a lot of us, What would yousay is your best communication
(26:13):
tip?
Best communication tip is overcommunicate, okay?
No matter what.
Outreach over partnerships,wife, son.
Friends over communicate.
And when you over communicate,bring vibrancy.
(26:34):
Into that communication brother,it's great to have connected
with you.
Hey, here's what we talkedabout.
I send usually voice messages,videos to people like my
partners.
They send me voice message overcommunicate.
'cause if you write a text,boom, little, right.
Two, one to three words thatcould get lost in translation.
Yeah.
But when you say.
(26:55):
Every point in one minute, theyhave a minute to watch that.
So if you over communicate, yougo much farther in terms of the
relationship than if you undercommunicate.
Man, that's an amazing strategy,man.
I love it.
Thank you.
I love it.
some folks have sent me videomessages on LinkedIn and I find
myself, if I can see theirpicture, then I will click on
(27:16):
it, but I don't click on randomlinks.
but those people that send mevideos, I watch every single
minute of it.
And you get to almost feel theirenergy, Of what they're trying
to communicate to you versus atext.
Yeah.
Because I think emotions can belost.
What is one thing you wishyou've understood earlier.
George, man, thank you for thatquestion.
(27:37):
I honestly, wish that Iunderstood the vision of things
and to being able learn.
Growth and learning.
I started too late.
no, I started way later than Ishould have started.
Okay.
Not too late.
It's never too late.
I literally started in thisworld of personal development,
(27:57):
self-development, growth,ambition.
I was always ambition, but I hadno knowledge or skills of what
could be possible.
So I started at about 33, I'm 40now.
If I would've just taken thatback five years.
but it's still not too late.
Many people start later than Iam, but when I look at it, I'm
(28:19):
like, if I started then, buteverything is part of your
journey, right?
It is.
Yeah.
So it doesn't matter, but that'sone thing I would pivot just to
learn faster, right?
and before,'cause I made a lotof mistakes, but those mistakes
also became part of who I amtoday.
Gotcha.
And when I think about myyounger self is that, sometimes
(28:42):
we were not mature enough, wewere not ready for the level of
thinking that we have now, andthe things that are important to
us now, we were not ready forthat 10 years ago.
Our focus was a little bitdifferent.
So even if our future self cameback and told us something, we
caught up in, our hype orfriends and all that good stuff,
(29:03):
so we were probably not matureenough, for this level of
thinking.
Yeah.
I agree.
I agree totally.
That makes perfect sense, man.
Yes, sir.
last question, brother.
in a focus round.
What do you attribute yourconsistent momentum and success?
I Love it.
(29:23):
I would have to say that mycontinuous drive for personal
development, because most peoplegrind.
They could be successful, butthey don't take care of.
Themselves, number one.
So number one, you're buildingyour infrastructure.
It's like having a house with nofoundation, right?
(29:44):
I wish I would've startedearlier.
'cause I now I see the explosionin the last seven years.
What if I did that five yearsago, right?
Five years before that.
But personal development, mindmission, drive, goals, health.
That is a foundation ofeverything, because if you don't
have your health, you can't win,right?
(30:05):
You might win temporarily, butyou'll crash and burn a hundred
percent.
So every single day I've got myroutine down in 2025 with AI has
been a game changer because itmade my decent routine into a 10
x.
So I'm gonna leave it rightthere, brother.
(30:26):
No, I got you, man.
I appreciate that.
Yeah.
So glad that you bring in ai.
We have a summit, the first,owner, of America's Summit for
2025 coming up on May 23rd Andthat's one of the things we're
gonna talk about.
We got Catherine Bell, one ofher coaches in Raise Master.
Coming to talk about, AI.
We also have Hollis coming totalk about bots to be able to
(30:47):
build credibility.
We have, Adrian coming to talkabout branding and we have Ben
Fraser gonna bring some surpriseinformation.
to include a fund that we'regonna roll out as well.
And we also have our fearlessleader, Hunter Thompson, as one
of our speakers Wow I'm superexcited.
(31:08):
Incredible.
The own more of America's Summithere in on May 23rd.
I am so ready for it.
Send me some information, let'sgo.
Yeah, I sure will, man.
Yes, it's gonna be exciting.
So we're building it out rightnow, and by the end of this
week, we should be pushing out,so by next week.
So by the time this podcastepisode release next week, we
(31:28):
should be pushing out thesummit.
We also pushing out a coupledifferent bonus along with it as
well.
A couple different, a couple ofresources that I've been working
on for months.
that is tailored towardsaccredited investor, our
military veterans who areaccredited, invested, and own a
small business, so there's gonnabe some exciting information
that, that we're rolling out, soGeorge.
(31:49):
Amazing.
I want to thank you, brother.
Thank you so much for spending.
Spend some time with us thismorning to talk about, short
term rental, STR, and man.
If our audience want to get intouch with you, what is the best
way for them to do that?
Absolutely.
So George Salas 3 6 0 has all mysocial medias right?
(32:10):
I am most active on LinkedIn, soyou click on the LinkedIn button
right there.
And I've also got acomplimentary masterclass that I
put together, that talks aboutour short-term rental model
there as well.
Awesome, man.
Appreciate you, brother.
Alright, thank you so muchbrother, for joining us.
Thank you.
And listeners, thank you forspending the time with us with
(32:31):
another episode of theMultifamily Real Estate
Experiment, podcast.
Until next time, I'm Hutch theMarine investor out.
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