Real estate developer Mike Nielson, CEO of LivAway Suites and West 77 Partners, explains economy extended stay hotels as a hybrid closer to multifamily than traditional lodging, serving essential-workforce and life-transition guests needing furnished stays from roughly 90 days to six months. He shares how COVID revealed the segment’s resilience when traditional hotels collapsed, inspiring the mission to deliver a cleaner, safer, more consistent product for underserved customers. Nielson details LivAway’s rapid growth since its first 2024 opening—over 100,000 room nights sold, eight hotels open, and additional properties in development nationwide—and credits vertical integration across brand, development, construction, and property management for consistency. He also recounts an early contractor bankruptcy crisis, his contrarian investing roots, a cash-on-cash-focused investor base, and advice on compounding experience and relationships over time.

00:00 Why Build LivAway

02:08 Extended Stay Explained

03:19 Who Stays Here

06:41 COVID Proof Demand

11:20 Fixing A Broken Product

11:58 Vertical Integration Edge

14:41 Contrarian Origin Story

17:21 Underwriting To Conviction

26:28 Investor Mindset Cashflow

29:52 Childhood And Football Drive

34:48 Doubters As Fuel

36:53 Why This Niche Wins

37:49 Base Hits Not Home Runs

38:31 Nature Versus Nurture

40:01 Hard Work Childhood Lessons

45:04 Work Smart And Risk

46:46 Contractor Bankruptcy Crisis

51:24 Paramedic Walk Leadership

53:31 Riots And Broken Waterwalls

01:00:27 Live Away Growth Vision

01:03:35 Compounding Career Advice

01:07:29 Final Wrap And Where To Follow

The Overlooked Hotel Model Making Real Money | Mike Nielson