{"podcast":{"title":"The Commercial Real Estate Investor Podcast","slug":"the-commercial-real-estate-investor-podcast-1247143","podcast_index_feed_id":1247143,"rss_url":"https://www.tylercauble.com/podcast?format=rss","website_url":"https://www.tylercauble.com/podcast/","image_url":"https://images.squarespace-cdn.com/content/v1/5c115fec9d5abbba78a23c93/1637795740335-ODSY1MEOVIXJU97AK7TT/Thumbnail+for+the+podcast+2+.jpg?format=1500w","author":"Tyler Cauble","episode_count":297,"summary":"Welcome to The Commercial Real Estate Investor Podcast where your host, Tyler Cauble, covers the ins and outs building wealth and passive income through investing in commercial real estate. Tune in for investing strategies, leasing & management tips, market updates, and more.","last_synced_at":"2026-07-21T06:18:10.176097+00:00","page_url":"https://stenobird.com/podcast/the-commercial-real-estate-investor-podcast-1247143"},"episode":{"title":"378. He Stopped Buying Airbnbs and Built a $20M Hotel Portfolio","slug":"378-he-stopped-buying-airbnbs-and-built-a-20m-hotel-portfolio","published_at":"2026-05-12T10:00:00+00:00","page_url":"https://stenobird.com/podcast/the-commercial-real-estate-investor-podcast-1247143/378-he-stopped-buying-airbnbs-and-built-a-20m-hotel-portfolio","show_page_url":"https://stenobird.com/podcast/the-commercial-real-estate-investor-podcast-1247143","url":"https://www.tylercauble.com/podcast/episode378","audio_url":"https://static1.squarespace.com/static/5c115fec9d5abbba78a23c93/t/6a0262dd77a7cf4485e742ce/1778541381601/He+Stopped+Buying+Airbnbs+and+Built+a++20M+Hotel+Portfolio.mp3","summary":"Core Concept Buy when others are scared : Michael bought post-2008 and during COVID, using fear-driven discounts to build a $20M portfolio. STRs → Hostels : Started with Airbnbs in Hawaii, then pivoted to hostels due to regulation limits and desire for a more scalable, centralized operation. Hostel strategy : Not “cheapest bed” but best social experience —design-forward common areas, events, and strong community vibe. Economics : Same-size room can earn more per night with bunks (e.g., $480 vs. $200), plus partial occupancy still produces strong revenue. Returns & risk : Targets ~20%+ IRR, 2–3x equity multiple , but with higher risk, longer holds (5–10 years), and heavier operations vs. multifamily. Big lesson : Don’t do your first hospitality deal solo— partner or get a mentor/mastermind to avoid costly mistakes. Portfolio fit : Hospitality offers a hybrid of strong cash flow + equity upside if you can execute on both real estate and the operating business.","meta_description":"Core Concept Buy when others are scared : Michael bought post-2008 and during COVID, using fear-driven discounts to build a $20M portfolio. STRs → Hostels…","key_points":[],"chapters":[],"topics":[],"duration_seconds":2198,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/the-commercial-real-estate-investor-podcast-1247143/episodes/378-he-stopped-buying-airbnbs-and-built-a-20m-hotel-portfolio/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/the-commercial-real-estate-investor-podcast-1247143/378-he-stopped-buying-airbnbs-and-built-a-20m-hotel-portfolio.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}