#327: Hotels, Pandemic Impacts, and So Much More! - with Sterling Anderson

Sterling Anderson is a real estate investor.

Sterling is the President & CEO of Red Oak Development (Formerly Sterling Capital Investments), a Real Estate Development/Investment company based in Omaha, NE. The company invests in and develops single-family, Multifamily, and Hotel properties

Quotes:

"It starts with the parent company. It starts with having to adhere to what they feel. You can have any idea in the world that you want, but if it's not approved by AHG or Hilton or Radisson, then that's an uphill battle that you're facing."

"You always explain to your investors that there is a risk of you not receiving your capital back."

"I'd rather raise too much for deals and have to give some back than not raise enough."

Highlights:

2:04- Sterling talks about his background and how he got into the real estate space

7:01- Sterling talks about where he finds distressed hotel sellers and pandemic pricing

13:04- Sterling gives stats on what he's planning for his hotels and what he's hoping for

17:43- Sterling talks about hotel conversion to multi-family

19:10- Sterling shares what markets he is excited about

25:50- Sterling talks about day-to-day management with his hotels and how he avoids losing money with it

30:06- Sterling talks about being with a flag and if it brings buying power

33:11- Sterling shares his most challenging deal and what he learned from it

Guest Website:

https://www.thevonnegroup.com/

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