The NOI Math Behind 3 Hotel Deals in 6 Months | Harshad Lalan | Part 5

Harshad Lalan bought three boutique hotels in six months - not according to plan, but because the opportunities and partnerships lined up. In Part 5, he breaks down the real reason he moved from short-term rentals into hotels: value-add renovations don't increase a residential property's value, but the same work does increase a hotel's value because commercial real estate is priced on NOI. He walks through three entirely different capital stacks (owner financing, a bank loan that covered purchase but not construction, and self-funded equity), what he actually looks for before investing in someone else's deal, and why he pushes back on the idea that hotels are simply "the next level" after short-term rentals. Part of the Chief Milestones series on operators building under real constraints.Reach out: [email protected] Milestones is a video podcast featuring honest conversations with founders, parents, and investors about building real businesses, staying healthy, and raising families.New episodes release Tuesdays and Fridays.Youtube: https://www.youtube.com/@ChiefMilestonesInstagram: https://www.instagram.com/chiefmilestones/Spotify: https://open.spotify.com/show/7HLDAe7SP3GnJSTOgAQqLy?si=6e9ac82be46f413cApple Podcasts: https://podcasts.apple.com/us/podcast/chief-milestones/id1861185226