From NASA to a $26M Real Estate Deal

Hotel Conversion to Multifamily With Matt Mainini

For real estate investors looking for creative ways to create value, hotel conversion to multifamily can present an intriguing opportunity. On Multifamily Rockstars, Matt Mainini explains how he became involved in a 104-unit hotel conversion in Southern California that offered a unique combination of affordable housing demand, government-assisted rents, and multifamily repositioning potential. The project was purchased for $13 million, with the team raising approximately $5 million in equity, and two appraisals had valued the property at approximately $26 million.

From Silicon Valley to Commercial Real Estate

Matt Mainini did not begin his career in real estate. Coming from a blue-collar family in Pennsylvania, he pursued psychology and human factors studies before building an 18-year career in Silicon Valley. His professional background included working with organizations such as NASA, Cisco, Yahoo, and Plantronics. After years in technology, Matt became increasingly interested in long-term wealth creation through real estate, initially investing while working his full-time career before eventually leaving the tech industry to pursue real estate full time.

Matt’s story is particularly relevant to professionals and business owners who want to build wealth outside of traditional retirement accounts. He describes spending years balancing work, family, and investing while recognizing that many professionals want to build a financial future beyond their 401(k). His experience led him to study investment strategies and tax considerations while gradually moving from smaller real estate investments toward commercial real estate and multifamily opportunities.

Why the Hotel Conversion Stood Out

The hotel conversion became Matt’s first major general partnership opportunity after initially investing passively in several multifamily value-add deals. The 104-unit property was located in Southern California, where Matt saw significant demand for more affordable housing. The project involved repositioning the hotel into multifamily housing, creating an opportunity to benefit from the difference in how the two asset types were valued in the market.

One of the most compelling elements was the property’s potential to provide naturally affordable housing while participating in a government-assisted housing program. Matt explained that comparable studio units rented for approximately $1,800 at market rate, while the voucher-supported rate was approximately $2,150 plus $150 for utilities, bringing the total to about $2,300 per month. The units were relatively small, ranging from approximately 320 to 380 square feet, but the strong demand for affordable housing created an opportunity to increase the property’s net operating income.

The investment also had a potentially significant valuation component. According to Matt, hotels in the area were trading around a 7.5% cap rate, while multifamily properties were trading around 5.5%. Converting the property from a hotel into multifamily could therefore create value by moving the asset into a more highly valued property category. The team’s initial plan was a three-year hold, followed by a sale after completing the repositioning and value-add work.

The Importance of the Right Real Estate Partners

Matt emphasizes that finding the right team can be just as important as finding the right property. Before joining the Warrior program, he recognized that his network was one of his biggest weaknesses and that trying to handle every aspect of real estate investing himself was limiting his growth. Through networking and education, he was able to build relationships with experienced investors and ultimately connect with partners involved in the hotel conversion opportunity.

For Matt, evaluating potential partners means spending time getting to know people rather than immediately jumping into a transaction. He recommends having multiple conversations and learning about a person’s character, communication style, and ability to work together over the long term. His approach highlights an important lesson for investors considering a multifamily partnership: a strong deal still requires a strong team to execute it successfully.

Matt’s key considerations when evaluating an investment include:

• Building relationships with potential partners before committing to a deal
• Looking beyond the financial projections and considering whether the opportunity feels right
• Understanding how the investment can create value through repositioning or a change in asset type

More Than Just the Numbers

Although Matt has an analytical and engineering-oriented background, he says investing decisions cannot be based solely on the math. A real estate investment may require a commitment of three, five, or even seven years, so investors need to believe in the opportunity and feel confident about the people involved. For Matt, trusting his instincts has become an important part of his deal criteria, alongside the financial analysis.

His approach to real estate investing also reflects the importance of understanding your own strengths. Matt discovered that authentic communication and investor relations were natural strengths for him. His background in human factors and user experience research helped him understand what other people need and communicate complicated concepts in a way that investors could understand.

Finding Passion, Adding Value, and Scaling

Matt closes with a simple framework for people considering a major career or investment move: start with what you are passionate about, find ways to add value to other people, and then determine whether that value can be scaled. He credits this framework with helping him recognize commercial real estate as a strong fit because it combined his passion for real estate with opportunities to serve communities and build something scalable.

For investors exploring hotel conversion to multifamily, Matt Mainini’s experience demonstrates how creative real estate strategies can combine market demand, affordable housing, partnerships, and asset repositioning. His first major general partnership also shows why building a strong network and identifying the right role within a real estate team can be just as important as understanding the numbers.

If you want to hear the full conversation and detailed insights from Matt Mainini, watch the podcast video or read the complete transcript below.

What Is Hotel Conversion to Multifamily?

Hotel conversion to multifamily is the process of repositioning an existing hotel property into residential apartment housing. This strategy can create value by converting an underutilized hotel into multifamily units while potentially benefiting from differences in valuation between hotel and multifamily properties.

Why Is Hotel Conversion to Multifamily Attractive to Real Estate Investors?

Hotel conversion to multifamily can provide investors with an opportunity to create value through property repositioning. In Matt Mainini’s example, the project offered potential value through affordable housing demand, government-assisted rents, and the difference between hotel and multifamily cap rates.

How Does Hotel Conversion to Multifamily Create Value?

Hotel conversion to multifamily can create value by changing the property’s use and improving its income potential. In the discussed deal, the hotel was purchased for $13 million, while two appraisals later valued the property at approximately $26 million after the planned repositioning.

Can Hotel Conversions Provide Affordable Housing?

Yes, hotel conversion to multifamily can potentially create naturally affordable housing by repurposing smaller hotel rooms as residential units. Matt Mainini discussed a project where strong demand for affordable housing and government-assisted rental programs helped support higher rental income.

What Should Investors Consider Before Converting a Hotel to Multifamily?

Investors should evaluate the property’s financials, market demand, conversion requirements, financing, potential rental income, and exit strategy. The strength and experience of the investment team are also critical because successful hotel conversion projects require effective execution over multiple years.

Why Is the Investment Team Important in Hotel Conversion to Multifamily?

The investment team is important because hotel conversion to multifamily can involve complex repositioning, partnerships, financing, and operational decisions. Matt Mainini emphasizes spending time getting to know potential partners and evaluating their character, communication style, and ability to work together over the long term.

What Role Does Market Demand Play in Hotel Conversion to Multifamily?

Market demand is a major factor in determining whether a hotel conversion to multifamily makes sense. Strong demand for affordable housing can support occupancy and rental income, while local property values and multifamily cap rates can influence the potential value created through the conversion.

Is Hotel Conversion to Multifamily a Good Real Estate Investment Strategy?

Hotel conversion to multifamily can be an attractive strategy when the property, market, financials, and execution plan align. However, investors need to conduct thorough due diligence and evaluate the risks, costs, timeline, and team before committing capital.

00:00:33:11 – 00:00:53:19
Rod Khleif
Welcome back to Multifamily Rockstars. So as you guys know, this is where we dive deep into our guest deals and we just have a lot of fun going a little deeper than we do on my normal episodes. And today I’ve got Matt many on the show with me. He is got a very interesting background. In fact, I’m not going to steal this thunder.

00:00:53:19 – 00:01:00:16
Rod Khleif
I want him to tell you what all he’s done because that’s some cool stuff on his bio here. So welcome to the show, man.

00:01:00:18 – 00:01:02:12
Matt Mainini
Thanks, rod. Yeah. Glad to be here.

00:01:02:16 – 00:01:12:12
Rod Khleif
Yeah. So why don’t you give us a little background on who you are and where you’ve worked in the past? Because I thought it was very cool when I saw it on your bio here. So tell us who you are.

00:01:12:14 – 00:01:46:00
Matt Mainini
Yeah. Yeah. Great. Well, I did not start out in real estate whatsoever. Very blue collar family back in Pennsylvania. And I, you know, had aspirations in the tech world. And and I was interested in psychology and engineering. So I went to school, got degrees in psychology and ultimately another in what’s called human factors studies how humans interact with digital products.

00:01:46:02 – 00:01:50:04
Matt Mainini
Man machine interaction. Yeah. And that took me that’s relevant.

00:01:50:05 – 00:02:02:08
Rod Khleif
That’s that. Sorry to interrupt. That’s very relevant right now with what’s happening with AI and robotics and everything else. So I’m sorry I didn’t run, but that just, like, triggered me for a minute. That’s cool. Please continue. Sorry.

00:02:02:10 – 00:02:38:16
Matt Mainini
Absolutely. It’s. The field is booming for sure. It took me to Silicon Valley and I started working. Kind of went from blue collar to white collar tech world overnight in that sense, because, you know, Silicon Valley’s big, big tech hub. And I had a career in that for about 18 years, worked at a bunch of companies, NASA I was working there, Cisco, Yahoo, Plantronics.

00:02:38:19 – 00:03:09:03
Matt Mainini
So I bounced around a bit. Did that, you know, tech circuit thing and and it produces, you know, higher income for that for that industry. Love the work. Got into kind of middle management and said, you know, where am I going from here? And my passion kind of went from, you know, human factors design research world into more long term wealth creation with real estate.

00:03:09:03 – 00:03:23:22
Matt Mainini
So I my passion started sliding towards that and I began investing kind of moonlighting like, you know, I’d work on the real estate stuff towards the evenings and weekends.

00:03:23:24 – 00:03:25:10
Rod Khleif
Very common.

00:03:25:12 – 00:03:46:10
Matt Mainini
Yeah. And it ultimately that’s about ten years ago I started that in real estate and and and left the tech world three years ago. So I decided to go, you know, full time into real estate and, you know, haven’t looked back since.

00:03:46:12 – 00:04:05:18
Rod Khleif
Wow. Wow. That’s quite a you know, we get a lot of people obviously, as you know, in the warrior program from the IT space. I mean a big chunk of our warriors from the IT space. And I just thought it was cool. You worked at NASA. I just thought that was cool. That’s why I wanted you to say it, but so so let me ask you this.

00:04:05:20 – 00:04:17:22
Rod Khleif
Woohoo! Do you think would relate to you in the in our business, you know, what type of listeners would be able to relate to you, do you think in your story and just to kind of pre frame it with that.

00:04:17:24 – 00:04:46:12
Matt Mainini
Yeah. Office workers typically you know I know what it what it’s like with the water cooler talk work in your 9 to 5. You have that kind of designated time. Even though in the tech world it’s kind of expected to be always on right. And very busy people that don’t have much time to think about how they’re investing outside of that.

00:04:46:12 – 00:05:12:08
Matt Mainini
They’ve got their family and their social life right on top of the work commitments that they’re putting long hours in. And what I found is that many people just don’t talk about investing there, but they know they should be or desire to be doing more than what they’re doing to build a future outside of their 401 K, right?

00:05:12:10 – 00:05:38:01
Matt Mainini
And so that that type of person was me for the longest time. Right? Until I really went after it, wanted to better understand tax implications, investment strategies and things like that. And I found that it really resonates with a lot of the at least the tech tech world, people that I connect with.

00:05:38:03 – 00:06:01:04
Rod Khleif
Yeah, well, they’re looking for freedom, right? They want freedom. They want to be able to enjoy their children while they’re still young. They want to, you know, be able to travel and whatnot. And so so what do you think? What would you call your superpower? I mean, I’ve got an idea just listening to your talk and what I know, what little I know, but how would you define your superpower?

00:06:01:05 – 00:06:17:13
Rod Khleif
Because everybody has them. And, you know, everybody thinks that, you know, you have to do every piece of this business and you don’t. This business is a team sport, as you know. And and there are lots of different hats you can wear. And you’re not going to take down 100 unit property by yourself. It’s just very I’ve seen it happen one time.

00:06:17:13 – 00:06:21:14
Rod Khleif
I think it’s a team sport. So what’s your superpower, brother?

00:06:21:18 – 00:06:54:01
Matt Mainini
Yeah, yeah, I’ve been honing it in really to. You know, I also fell victim of thinking I need to know everything and do everything. You know, do it yourself. Or engineer minded, but authentic communication. So being able to break down the deal, the concept and passionately share that with people that it may that may benefit from an opportunity like this came very naturally and and it feels very fun as well.

00:06:54:02 – 00:07:29:09
Matt Mainini
I love having those conversations with people about investing, and time just flies while I’m doing it, and it resonates, and I’ve had success with that. So for me, you know, the investor relations side, communicating the the deal has been an area of focus that I chronically so is where I’m headed because I have experience on a single family portfolio or smaller units, smaller properties with asset management.

00:07:29:11 – 00:08:05:16
Matt Mainini
Right. And I acquired that. So my wife and I own and operate a small portfolio of our own. And I had thought that’s my real experience. But honestly, it was the user experience research background that I have to really empathize and understand what somebody else’s needs are and how to apply that into this. These investment vehicles in multifamily world, that’s really where my skill set was coming live, and that’s what I’m doing now.

00:08:05:18 – 00:08:16:20
Rod Khleif
Love it. Let’s talk about your first deal. Talk about your first deal. And why did you join the warrior program, may I ask? I mean, you were doing real estate already. What did you. What did you feel like you know you needed?

00:08:17:01 – 00:08:43:13
Matt Mainini
So I joined about a year and a half ago, and I recognized as I was full time in real estate. And this is super important to recognize or identify what you’re lacking, right? We’re not good at everything. So what what do we what hole do we need to fill? And be honest with yourself about that. And for me, it was my network.

00:08:43:13 – 00:09:14:06
Matt Mainini
My network was really weak. I was trying to do everything myself, swinging a hammer, you know, that sort of thing. And it’s a lot of work to try to do it all yourself. So recognizing that, I’m like, I need to grow my network. So I started looking at different various programs and, and ultimately reading a bunch of books on, on the syndication or multifamily space.

00:09:14:07 – 00:09:42:00
Matt Mainini
Found you in the podcast and your book, which was excellent read, by the way. Thank you. And and ended up committing to your program and have been blown away with the level of quality people that are in there like me. And beyond that, I was able to start networking with and connecting and learning from way faster, way, way faster than I could have ever done on my own.

00:09:42:00 – 00:09:42:21
Matt Mainini
It would have taken.

00:09:42:22 – 00:09:49:12
Rod Khleif
It’s an incredible group. It’s an incredible group, isn’t it? I mean, the people in there just blows my mind, honestly. So.

00:09:49:12 – 00:09:51:17
Matt Mainini
So the first.

00:09:51:19 – 00:09:53:21
Rod Khleif
Yeah. Talk about your first deal. Yeah, yeah, yeah.

00:09:54:01 – 00:10:01:04
Matt Mainini
The first deal that I had invested in a few LP positions.

00:10:01:06 – 00:10:03:13
Rod Khleif
Passively investing in somebody else’s deal.

00:10:03:15 – 00:10:39:08
Matt Mainini
Yeah. Because I wanted to learn and grow. And so I was starting to kind of dabble that put my money where my mouth is and invested in some multifamily value, add light, value, add things. But I also recognized with my position now being full time, I could go faster or harder, right? And I wanted to do more. So I joined as a as a general partner on a hotel conversion in Southern California.

00:10:39:10 – 00:10:54:05
Matt Mainini
Wow. And net, through the Warrior Network found amazing partners on that. Who actually identified that deal and and for me, it was checking all the boxes, you know, as an.

00:10:54:07 – 00:11:19:11
Rod Khleif
That’s really unusual first deal. I’m just going to tell you, you know, and a lot of people think the Warriors are just about multifamily. We’ve got quite a few hotel conversions into multifamily and very profitable ones. We’ve got tons of senior housing, which is I’m even into right now. Of course, I don’t know if you knew this, but the Warriors now are at last count or at 305,000 units of multifamily, which is more than everybody else that teaches this combined.

00:11:19:12 – 00:11:39:00
Rod Khleif
But does every other asset class, which is the point here, like this hotel conversion, like mobile home park, self-storage, mixed use industrial, flex space. And so again, it’s kind of cool that that you came on. I didn’t realize that’s what we’re going to talk about here until I looked at this just a few minutes ago. So talk about this hotel conversion.

00:11:39:00 – 00:11:41:08
Rod Khleif
Very cool.

00:11:41:10 – 00:12:06:15
Matt Mainini
Yeah. You know, you kind of don’t know what you want until you spend enough time looking at opportunities. And for me, it was a perfect kind of blend of the team as well as the opportunity itself. I think both are really, really important, and I’d actually even maybe edge out the team.

00:12:06:15 – 00:12:17:17
Rod Khleif
Being the team’s more important, the team’s more important. You can have a great deal in a bad team and the deals in trouble. You can have a, you know, questionable deal and a great team and the deal will be fine. Yes. So you’re absolutely dead on.

00:12:17:21 – 00:12:45:17
Matt Mainini
Exactly. And so, you know, spending the time to get to know these other investors over months, several conversations. That’s it’s really, really important. You’re trying to get at the character of the individual ultimately and really learn. If you’re going to get along over the long haul. You know.

00:12:45:22 – 00:13:07:21
Rod Khleif
Interject something. Let me interject something. So, guys, I mean, this business is a team sport. You’re going to do it with other people, period into story. And and on my Linktree Rod’s links, there’s a book about the questions you should ask before you get into partnership. You did it the right way. Your analytical. So, you know, there’s no question you were going to you were going to ask the right questions and take your time with it.

00:13:07:22 – 00:13:26:15
Rod Khleif
Well, people like me, we’re we’re fire ready aim. And this book is for people like me. You know, where? Because, you know, a partnership like a marriage is easy to get into and hard to get out of. Ask me how I know. And and so you want to ask all the hard questions up front to make sure you know that, that you’re in the right relationship.

00:13:26:15 – 00:13:31:11
Rod Khleif
And so it Rod’s links, there’s that book and it’s really helpful. Anyway, I just want to throw that in. Please continue.

00:13:31:12 – 00:13:57:06
Matt Mainini
There’s a lot of good questions in there that I had not thought of. And and completely agree. It’s very exhaustive list of questions. So you did a great job putting that together. And I will absolutely be referencing that too, because catching anything, you know, it could be one little thing that down the road it’s going to burn you if you didn’t just consider that right.

00:13:57:07 – 00:14:09:18
Matt Mainini
So we’re never done learning. You know, the I’ll continue to always evolve and improve and grow. And so the more information we have at our disposal to better.

00:14:09:21 – 00:14:27:17
Rod Khleif
And one other piece, trust your gut. You know, I can tell you, every time I’ve ignored a strange feeling about somebody, I’ve regretted it every single time. Our brains are so powerful, they can pick up on micro nuances that we’re not consciously aware of, and so trust it. Now, women are better at this than men. They have better intuition.

00:14:27:17 – 00:14:43:06
Rod Khleif
But men you to trust it. Because like I said, there’s there’s a book about this called blink. I think it’s the author where, you know, an art expert can look at a painting and they know it’s a fraud, but they don’t know why. They know it’s a fraud. It’s the same way with a person. So I just want to throw that in.

00:14:43:07 – 00:14:48:21
Rod Khleif
Don’t underestimate the importance of that little piece.

00:14:48:23 – 00:15:19:19
Matt Mainini
Yeah. And that can carry you so far very, very far trusting your gut. Because as far as a deal criteria for me, that’s at the top of the list now. And it’s even as a scientist, engineer minded person, I’ve recognized that if you go into a deal simply based on the math and the numbers, you’ve got to consider that you might be in this for three, five, seven years from now.

00:15:19:20 – 00:16:04:17
Matt Mainini
It has to be more than just simply the math works, right? You’ve got to really believe in it and be passionate about it and want to share that with other people. If you’re not convinced, then you’ve got a long road ahead of you. That doesn’t look very good. I kind of happenstance fell into that with this first deal with the hotel conversion, and I can get into how that all happen, but that, you know, it showed me like the criteria required for me to invest in an opportunity in one of those is trust in your gut that it feels right.

00:16:04:19 – 00:16:06:18
Rod Khleif
So sure know for sure.

00:16:06:22 – 00:16:35:16
Matt Mainini
I live in one of the most unaffordable counties in the United States, Santa Cruz County in California. It happens to be next to Silicon Valley, where the AI boom is, or tech boom, you know, happen. It’s up against the the beach. So we have a coast here, the California coast and also the mountains prevent building out further. So it’s squeezed in here.

00:16:35:16 – 00:17:06:15
Matt Mainini
And the income in the county is much, much lower than the average cost of of a house, you know, roughly $1.5 million for a typical house. That’s not very nice either, but that’s where so I you know, I cut my teeth in this market, right? And learned how to invest here and recognize how difficult it is for people to live, especially if you’re not earning the tech salary.

00:17:06:16 – 00:17:30:16
Matt Mainini
Right. People are getting squeezed out, seniors getting squeezed out. And it’s hard to see. But it it showed me and taught me that what we need is more affordable housing and naturally affordable housing. So low income and just generally put a roof over someone’s head that’s, you know.

00:17:30:18 – 00:17:34:01
Rod Khleif
So this this conversion was in that market, was in that area.

00:17:34:06 – 00:17:59:04
Matt Mainini
So what I was getting at is this is my lived experience in my county, but in Orange County, down south in in California. But it’s about seven hours for me. Oh, similar situation there. The voucher program, the waitlist is about 21,000 people on the waitlist to to have voucher fulfilled.

00:17:59:08 – 00:18:00:17
Rod Khleif
Section eight. Wow.

00:18:00:17 – 00:18:32:08
Matt Mainini
Yes. Right. So when evaluating this deal, the the rents, even at market rents, it makes sense to do this deal. Right. But when you add an element of affordability on top of it, which interestingly enough they pay more than market rate because of the demand is so high that, you know, collaborating with the government assistance, they’ll they’ll pay over market rate and you can boost your NOI that way, right.

00:18:32:10 – 00:18:43:03
Rod Khleif
So yeah, let’s go through the numbers because I’ve got them here on, on your sheet. So you had originally based it at it was at 1800 a month.

00:18:43:05 – 00:18:46:21
Matt Mainini
Yeah. So market rate for a studio is about 1800.

00:18:46:23 – 00:18:51:24
Rod Khleif
And with, with a voucher where were you able to take it.

00:18:51:24 – 00:19:04:02
Matt Mainini
So 2150 is the rate for the studio. But also they’ll pay utilities at 150. So we’re at 2300. Wow wow a room.

00:19:04:08 – 00:19:10:20
Rod Khleif
Yeah. That’s that’s that’s fantastic. And that’s just for a studio. Wow. That’s crazy. Oh my God, that’s crazy.

00:19:10:21 – 00:19:23:11
Matt Mainini
Yeah. And and they’re on the smaller side. So 320 to 3 80ft² depending on the unit. Right. So it’s a standard hotel room.

00:19:23:12 – 00:19:29:07
Rod Khleif
That’s a hotel. Right. So so correct me if I was 104 units, what was the purchase price.

00:19:29:09 – 00:19:30:13
Matt Mainini
13 million.

00:19:30:14 – 00:19:35:24
Rod Khleif
13 million. How much equity did you raise for it? I mean, did the team raise.

00:19:36:01 – 00:19:38:16
Matt Mainini
$5 million of equity?

00:19:38:18 – 00:19:49:01
Rod Khleif
Okay. And what’s your timeline for this asset? Are you are you going to buy it and sell it? Are you going to buy it and hold it? What’s your timeline?

00:19:49:03 – 00:20:22:10
Matt Mainini
It’s a three year plan okay. It you know, the the intention is to sell it when we’re done with adding all the, the value. And what’s amazing about it is the reposition of the asset type. It’s unique in that way that when we look at cap rates, a hotel in the area trades at about 7.5%. But a multifamily is lower, meaning more valuable at 5.5%.

00:20:22:12 – 00:20:32:13
Matt Mainini
So there’s about a two point spread there by being able to transition this into a multifamily apartment. So there’s a lot of meat on the bone in that case.

00:20:32:14 – 00:20:37:00
Rod Khleif
So you pay 13 million. What’s your what’s your projected exit price on this thing?

00:20:37:01 – 00:20:44:17
Matt Mainini
We’ve had two appraisals so far at about 26 million double double the purchase price.

00:20:44:18 – 00:20:54:23
Rod Khleif
Graduations brother congratulations. That’s fantastic. Good for you. Good for you. So so. And you found the deal how?

00:20:55:00 – 00:20:58:09
Matt Mainini
It was through partnership. So actually my the partners.

00:20:58:12 – 00:20:58:18
Rod Khleif
And the.

00:20:58:18 – 00:21:01:00
Matt Mainini
Warriors through the warrior program.

00:21:01:05 – 00:21:02:00
Rod Khleif
Wow.

00:21:02:02 – 00:21:36:19
Matt Mainini
Had this in the works for a long time. You know, closing on a property like this, it takes some negotiation over a period of time. Right. So I was able to to join before we ultimately closed on it. And yeah, very fortunate to find people that it was it was through a broker actually, because my partner was Hector was knocking on the doors and asking about purchasing and they kind of shoe you away, you know, not interested.

00:21:36:19 – 00:21:43:09
Matt Mainini
But through a broker relationship, it formed and we got that under contract.

00:21:43:13 – 00:22:02:11
Rod Khleif
Nice, nice. By the way, if you are interested in applying to the warrior program, text the word crush to 72345. That’s how you apply. We don’t take everybody, but I think you’ve heard how amazing it is. Text crush to 72345 and we’ll have a talk with you. We check you out. Yeah.

00:22:02:13 – 00:22:47:18
Matt Mainini
After my first trip to Sarasota and meeting hundreds of other warriors doing this, you know, multifamily or otherwise investing, I came home after that weekend and I, and I told my wife, I think the entire like amount that I paid for warriors over years of content and networking, I think it was all just paid for itself. In this one weekend that I met and was introduced to so many people in in the industry doing this, it was unbelievable and it’s changed my life.

00:22:47:20 – 00:23:08:05
Rod Khleif
Oh, thank you for saying that, buddy. That’s why I do this. I mean, honestly, it’s not I actually am not making money right now with it. It’s it’s it’s I make my money from my own acquisitions. We just closed on our eighth senior housing facility. And I think, you know, that’s a hot topic conversation as well, isn’t it?

00:23:08:07 – 00:23:09:16
Matt Mainini
Senior senior housing.

00:23:09:16 – 00:23:10:01
Rod Khleif
Yeah.

00:23:10:02 – 00:23:27:14
Matt Mainini
Yeah, yeah. And it’s definitely an amazing investment opportunity, especially right now. And you do talk about it quite a bit as well. You’ve recognized it. So many of the boomers you know getting to.

00:23:27:15 – 00:23:47:22
Rod Khleif
That 10,000, 10,000 a day or turning 80, 10,000 a day every single day for the next 20 freaking years. I mean, good Lord, I think there’s going to be a crisis. I actually got my administrator’s license here in Florida back in 2007, before I had my ass handed to me in 2008, and I was going to get into this business and I, I backed off.

00:23:47:23 – 00:24:05:20
Rod Khleif
So it’s kind of like full circle now. You know, I went through classes and everything to be an administrator because I love seniors just as much as I love kids. And but yeah, I’m super excited about it as well. And of course, there’s a ton of value, a ton of deals right now in multifamily because a lot of operators got adjustable rate debt.

00:24:05:21 – 00:24:28:19
Rod Khleif
They got in over their skis. They they bought in 21 and 22 and overpaid because the cap rates were so low. And so it was just incredible opportunity right now. But but now that that that that hotel conversion Holy cow buddy. That is that is really, really cool. So if anybody’s, you know, would like to reach out to you, are you are you comfortable with, you know, having that happen?

00:24:28:21 – 00:24:30:06
Matt Mainini
Yeah, absolutely.

00:24:30:09 – 00:24:33:21
Rod Khleif
Okay. What what LinkedIn maybe. Or what what is your.

00:24:33:22 – 00:24:50:16
Matt Mainini
I’d say LinkedIn or my website. So okay. Mana cap group m a n a cap group com okay. Or my LinkedIn at Matt and I’m.

00:24:50:18 – 00:25:09:16
Rod Khleif
A I n I n I. Okay. Fantastic. So as a final question, give some wisdom to the people that are listening that haven’t taken action yet, that know they need to do something for themselves, their kids, their families, their legacy, inspire them.

00:25:09:18 – 00:25:39:12
Matt Mainini
Yeah. So. You’ve got to take massive action like you’ve, you know, taught me, rod. And one thing that I would say somebody should consider is very simple, but what are you passionate about? Start there. Because that’s going to take you really, really far. If you could make a lot of money and not have passion, it you’ll burn out.

00:25:39:12 – 00:26:05:07
Matt Mainini
So you want to enjoy what you’re doing. So start with the passion and then add value. Find a way to add value to other people. So you really want to push that. How much value can you add. So have your passion and the value. And then third consider how to scale that and grow that. So how much room is there to grow.

00:26:05:07 – 00:26:30:21
Matt Mainini
And for for me that’s how I landed on commercial real estate. I was passionate about real estate. I can add tremendous value to the community. And it also scales potentially unlimited, right? There’s no end to it. So I’ve dedicated myself with that, and I and I just challenge the listener to consider those three things as they make a big change in their life.

00:26:30:22 – 00:26:32:05
Matt Mainini
A big move.

00:26:32:07 – 00:26:49:18
Rod Khleif
I will tell you, I love that and and figure out what you love to do. There’s so many different hats you can wear in our business, and so figure out what you love to do and then you’ll be passionate about it. That’s that’s what drives the passion is that love? And the most successful people on the planet are the ones that add the most value.

00:26:49:19 – 00:27:07:17
Rod Khleif
Look at Elan, look at Bezos. I mean, you know, I can buy this watch in two seconds on Amazon. They had, you know, the value just jobs, you know, add value. And then yes, the scalability is such an incredible piece of it. It’s such an important piece of it as well. You know, how far can you take this.

00:27:07:18 – 00:27:26:01
Rod Khleif
And that’s the beautiful thing about real estate. There’s so many opportunities right now in this environment. We’re in with being able to utilize AI and social and maximize that. You can buy businesses, for God’s sakes. There’s also 10,000 people a day turning 65 in this country. This there’s so much opportunity and they have businesses to sell. The reason I brought that up.

00:27:26:01 – 00:27:39:01
Rod Khleif
But listen, I really appreciate appreciate you coming on. It was I think you had a tremendous value Matt. And it’s great to see you again. And and I’m sure my listeners will really enjoy this episode.

00:27:39:03 – 00:27:41:09
Matt Mainini
Wonderful. Yeah. Thanks so much, rod.

00:27:41:10 – 00:27:42:18
Rod Khleif
All right. Thanks. Thanks.