Latest / The Steve Harvey Morning Show / Brand Building: A 24-year-old entrepreneur tells us how he owns three Atlanta hotels and is a touring artist.
Transcript
- 0:00Speaker 1: Hi, Ra Sean McDonald, I host this weekly Money Making
- 0:02Speaker 1: Conversation Masterclass show. The interviews and information that this show
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- 0:15Speaker 1: Money Making Conversations Master Class, please visit that website, Moneymaking
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- 0:23Speaker 1: If you're a small business owner, entrepreneur, motivational speaker, influencer,
- 0:28Speaker 1: a nonprofit I want you on my show.
- 0:30Speaker 2: Now, let's get started.
- 0:32Speaker 1: My guest hotel ownership includes two candle Will suites and
- 0:37Speaker 1: an Embassy suites. He's a touring artist and venture capitalist.
- 0:41Speaker 1: That's three things. He's one of the youngest individuals to
- 0:44Speaker 1: ever receive an honorary doctorate as well as receiving an
- 0:48Speaker 1: Outstanding Citizen Award from the State of Georgia. That's five things.
- 0:52Speaker 1: Please work with the Money Making Conversation Master Class. Doctor
- 0:56Speaker 1: Isaiah Tatum, Hey doing, Doctor Tatum Man? You see it
- 1:00Speaker 1: laid back now, I've seen you out man, way more energy.
- 1:03Speaker 1: You're not gonna play it cool on my show. You
- 1:06Speaker 1: can't take these man, because you inspire your inspiration.
- 1:09Speaker 2: I appreciate it. I brought you on here to tell
- 1:10Speaker 2: your story. I appreciate it. And how old you right now?
- 1:13Speaker 2: I'm twenty four, twenty four years old? Can you can? You?
- 1:16Speaker 2: Can you scroll that back down a minute? This twenty
- 1:18Speaker 2: four year old? Brothers?
- 1:19Speaker 1: Did he say two Canada will sweets and sweet? He's
- 1:25Speaker 1: a touring artist and adventure capitalist and he's twenty four
- 1:29Speaker 1: years old?
- 1:30Speaker 2: Okay, how I'm just gonna throw that out, but we're
- 1:35Speaker 2: gonna get more details right right there?
- 1:37Speaker 1: You can.
- 1:38Speaker 2: Faith means a faith and a plan. Faith. I don't
- 1:41Speaker 2: tell people to jump out there on faith.
- 1:43Speaker 1: You better have a plan in your back pocket because
- 1:45Speaker 1: in the end, people gonna ask you for that plan.
- 1:48Speaker 1: People gonna ask you for direction.
- 1:52Speaker 2: And you gotta have that all in that.
- 1:53Speaker 1: So let's go back music playing a major role in
- 1:56Speaker 1: your life early on.
- 1:57Speaker 3: Let's go there first one music. I began playing the
- 2:01Speaker 3: saxophone when I was ten. I kind of grew up
- 2:04Speaker 3: basically raised around my grandparents. So some of my favorite
- 2:07Speaker 3: artists are Curtis Mayfield, Bobby Wold, Mack, Retha Franklin. You know,
- 2:12Speaker 3: I mean, I love all of the great So when
- 2:15Speaker 3: I was ten, I didn't really I wasn't in the football.
- 2:18Speaker 2: I wasn't in the.
- 2:20Speaker 3: Play football though, and so you know, I was just
- 2:25Speaker 3: listening to music and I started playing the drums feeling around.
- 2:28Speaker 3: My grandfather introduced me into golf, so I started at
- 2:31Speaker 3: d and so once I became ten, he brought me
- 2:34Speaker 3: a saxophone, and then from there I got to listening
- 2:38Speaker 3: to Kenny g Jerald Albright, you know, David Sanborn's all
- 2:41Speaker 3: the greats. And from there, basically I just fell in
- 2:44Speaker 3: love with the instrument.
- 2:45Speaker 2: And I'm like, one day.
- 2:46Speaker 3: I want to because I couldn't sing, so one day
- 2:48Speaker 3: I want to be able to emulate the same emotion
- 2:51Speaker 3: and everything that they do with the sacks, where I
- 2:54Speaker 3: can transpose it and do the same they could. And
- 2:57Speaker 3: so you know, it started, and it was something that
- 3:00Speaker 3: was cool. But I knew I was different because all
- 3:03Speaker 3: the other kids hated taking the instrument home. I couldn't
- 3:05Speaker 3: wait to get home and play, and I sounded horrible.
- 3:08Speaker 2: But it was a challenge.
- 3:10Speaker 3: Because it was like, oh, I practiced six hours a day, Okay,
- 3:13Speaker 3: I'm okay.
- 3:14Speaker 2: On Monday, Tuesday practiced a little bit more. I'm getting better.
- 3:17Speaker 3: You know, Wednesday, I'm practicing a little bit more and
- 3:18Speaker 3: I'm getting better. So I kind of progressed really quickly,
- 3:21Speaker 3: and by it I was twelve and thirteen. I'm playing
- 3:24Speaker 3: with people in high school and I'm so much more advanced,
- 3:27Speaker 3: and I'm like, I'm actually good.
- 3:29Speaker 2: And you know, I can hear it. I can hear
- 3:30Speaker 2: the difference.
- 3:31Speaker 3: I would just look on YouTube and mimic everything Kenny
- 3:33Speaker 3: and these other people were doing, and so then I
- 3:36Speaker 3: began to actually know that I was good. And from
- 3:40Speaker 3: there I had an opportunity to meet Kenny G. And
- 3:42Speaker 3: we just kind of kicked it off from there and
- 3:44Speaker 3: been like the best of friends.
- 3:46Speaker 2: And from their open I think I was about thirteen thirteen. Wow,
- 3:52Speaker 2: picked it up at ten, picked it up at ten,
- 3:54Speaker 2: make Kenny G at thirteen. We stayed in contact.
- 3:58Speaker 3: I mean, you know from there on, you know, he
- 4:00Speaker 3: liked me because I was very inquisitive. I asked a
- 4:03Speaker 3: lot of questions, right, I believe that I believe that
- 4:06Speaker 3: you got that. Ask a lot of questions.
- 4:07Speaker 2: I'm going to ask you all the questions, how do
- 4:09Speaker 2: you do this, how do you do this? How you
- 4:10Speaker 2: do this?
- 4:11Speaker 3: And so basically, you know, from there he was like,
- 4:13Speaker 3: I like this kid, you know, he's very inquisitive, and
- 4:16Speaker 3: we kicked it off from there and the next thing,
- 4:18Speaker 3: you know, I became very proficient in what I was doing.
- 4:23Speaker 3: And next thing, you know, I'm touring.
- 4:25Speaker 2: Congratulations.
- 4:26Speaker 1: You know my background, part of my little background A
- 4:29Speaker 1: lot of people don't know. Was that a B flagcall clarinet,
- 4:33Speaker 1: first chair. Then I went over to Alto tanem based sound. Okay, yeah,
- 4:39Speaker 1: I went through the whole ranks. You know, the winds.
- 4:41Speaker 1: I had the winds, you know, but I would The
- 4:44Speaker 1: reason I bring that up is that music played a
- 4:47Speaker 1: lot to my success today because it really helped me.
- 4:50Speaker 1: I fell from a memory stand form, from an educational
- 4:53Speaker 1: plantpoint within. My academics talk about how music really can
- 5:00Speaker 1: be an asset to young people other than what they
- 5:03Speaker 1: hear rappers do and all that stuff.
- 5:06Speaker 2: Just the basic core of music is important.
- 5:09Speaker 3: I feel like music is so important because if you
- 5:12Speaker 3: really go back in history, you really understand the core.
- 5:16Speaker 3: To me, music is universal, right, you know, we can
- 5:19Speaker 3: be in America, Africa, Asia, Europe and the way that
- 5:24Speaker 3: you can communicate without speaking the same languages through music.
- 5:28Speaker 3: So I feel like a lot of young people are
- 5:30Speaker 3: really missing the basis of how fundamental music is. It's therapeutic,
- 5:35Speaker 3: you know, it can be calming, it can be used
- 5:37Speaker 3: to sleep, and so many different killing properties that consist
- 5:41Speaker 3: with music. And so I mean, oh my goodness, I
- 5:44Speaker 3: can just go on and on because.
- 5:47Speaker 2: It plays a role with me.
- 5:48Speaker 1: Now, you know, I know I didn't continue playing an instrument.
- 5:51Speaker 1: I regret that they could always think about you know,
- 5:54Speaker 1: you know, like anything, if you walk away from it,
- 5:56Speaker 1: you don't practice it, that that skill goes away. Oh
- 5:59Speaker 1: you know, and now you're becoming an adventure capitalist and
- 6:03Speaker 1: you know, owning hotel properties.
- 6:07Speaker 2: The fear of walking away from music.
- 6:10Speaker 3: I never said I I mean, I technically I wouldn't
- 6:13Speaker 3: say I walked away. I just felt like my other
- 6:16Speaker 3: ventures have kind of veered me to my focus.
- 6:20Speaker 1: Now. Your second question was touring though touring Yeah, yeah, okay,
- 6:23Speaker 1: I mean I can never get away from touring.
- 6:26Speaker 3: Okay, Opportunities aren't the same now as they were years
- 6:30Speaker 3: before for me, and so basically my other ventures have
- 6:34Speaker 3: been able to put touring on.
- 6:36Speaker 2: The back end for me. But I got to get
- 6:38Speaker 2: back out there. So I got a lot of surprises
- 6:40Speaker 2: coming with music and you know, working on just about that,
- 6:44Speaker 2: doctor Tatum. Okay, it's that.
- 6:48Speaker 1: We know in the world we live in today, multiple
- 6:50Speaker 1: streets of income, right people say that nowadays, people will
- 6:54Speaker 1: go get it back in the day when I grow up.
- 6:57Speaker 1: You're too busy, You're doing too manythings, do jokes about Jamaicans.
- 7:00Speaker 1: You know, five jobs now five jobs a compliment? Yeah,
- 7:04Speaker 1: multiple streams of income right now, when you talk about touring,
- 7:08Speaker 1: you talk about venture capitalists, you talk about owning hotel properties.
- 7:13Speaker 1: Are you looking at it from a multiple streams of
- 7:15Speaker 1: income positioning? Are you just saying this is what I
- 7:18Speaker 1: want to do with my life.
- 7:20Speaker 3: I basically, for me, I never chase things for the income.
- 7:24Speaker 3: To me, I really like I fell in love with credentials.
- 7:27Speaker 3: I fell in love with because in my life it
- 7:29Speaker 3: was a lot of things that early on, a lot
- 7:31Speaker 3: of people said things that I couldn't do right, you know,
- 7:34Speaker 3: from overcoming homelessness, living in the hotels for two years.
- 7:37Speaker 3: It was things that motivated me to say, God, if
- 7:41Speaker 3: you give me an opportunity at this thing again, I'm
- 7:43Speaker 3: going to take advantage of every opportunity I can. I'm
- 7:46Speaker 3: going to maximize each opportunity that I can and I'm
- 7:50Speaker 3: going to try to put my businessman hand on and
- 7:52Speaker 3: monetize each opportunity that I can. So now I'm looking
- 7:56Speaker 3: at it as multiple streams of income. But when I
- 7:58Speaker 3: wanted to do it, I wanted to. You know, when
- 8:00Speaker 3: I would go and I would.
- 8:01Speaker 2: Ride by these gorgeous houses, five ten million dollar houses,
- 8:05Speaker 2: and ride and go see these dealerships and all of
- 8:08Speaker 2: these expensive cars. It was like, I want to live
- 8:10Speaker 2: my life like that.
- 8:10Speaker 3: I don't want to have to wake up and damn
- 8:13Speaker 3: I got to figure out how much pay the light
- 8:14Speaker 3: bill and How'm gonna have to do all of this.
- 8:16Speaker 3: I didn't want to live that life, so I really
- 8:18Speaker 3: wanted to on it onto how I was able to
- 8:22Speaker 3: maximize all of my opportunity.
- 8:23Speaker 1: You know what I love about this conversation, Like what
- 8:26Speaker 1: you just said was a vision board, and that was
- 8:29Speaker 1: happening when I was in high school. I just to
- 8:31Speaker 1: cut out the cars I wanted. I should drive through
- 8:33Speaker 1: the neighborhoods that I couldn't afford my little beat up
- 8:36Speaker 1: Pinto and go I want. I like the yard because
- 8:39Speaker 1: my wife always said, you really know what you want,
- 8:41Speaker 1: because it's been in my mind right since I was
- 8:44Speaker 1: a teenager what I wanted. So my goals have always
- 8:47Speaker 1: been before even existing vision air boards because of my age,
- 8:52Speaker 1: I just had dreams and they were locked in.
- 8:54Speaker 2: That's the same way with me, they were locked in, Isaiah.
- 8:57Speaker 3: It's locked in tight and then you know, and it
- 9:00Speaker 3: doesn't really change. I think you know, it expands over time,
- 9:03Speaker 3: but it really doesn't change. You still have the same
- 9:05Speaker 3: goals and things that constantly motivate you and that motivation.
- 9:08Speaker 1: Because I want to ask you about the motivation inspiration,
- 9:11Speaker 1: because I know I've led with the venture capitalists, I've
- 9:14Speaker 1: led with the properties that you are on and one
- 9:17Speaker 1: of the youngest people that's been part of that whole
- 9:20Speaker 1: franchise out there. We're going to get to that, but
- 9:23Speaker 1: I think it's important that people know there's a backstory
- 9:26Speaker 1: to this.
- 9:27Speaker 2: You know, you know, you wasn't born with a silver sponer.
- 9:30Speaker 1: You had to build a reputation, and that reputation started
- 9:33Speaker 1: when you was ten years old. Yeah, it did, and
- 9:36Speaker 1: you your passion and your hard work.
- 9:40Speaker 2: Started there, right, correct, correct? Correct.
- 9:46Speaker 1: The music has played such a role that you haven't
- 9:49Speaker 1: left your music left.
- 9:50Speaker 2: How did you think about hotel properties?
- 9:54Speaker 3: Well, in about twenty nineteen, I kind of because it basically,
- 9:58Speaker 3: so we're being a venture capital list and private equity
- 10:01Speaker 3: investor and so on these fancy.
- 10:05Speaker 1: Words, you know, Jackapitlis equity investors. Okay, first of all,
- 10:10Speaker 1: we'll avoid the English and education one on want of
- 10:14Speaker 1: money making conversations masterclass. Equity investor, what is that?
- 10:18Speaker 3: So equity investor basically would come in the same thing
- 10:21Speaker 3: as a venture capitalist would basically put up equity or
- 10:25Speaker 3: funds for a company that's starting or something. Basically, so
- 10:30Speaker 3: say you got a company that's a million dollars, they
- 10:32Speaker 3: come to you and say, hey, Isaiah, we need three
- 10:33Speaker 3: hundred thousand dollars. We'll guarantee you thirty percent equity or
- 10:37Speaker 3: three six percent equity. However much of the company that
- 10:41Speaker 3: you guarantee for putting up that amount of money. So
- 10:43Speaker 3: it's basically, in short terms or layman's terms, what a
- 10:46Speaker 3: venture capitalist does or somebody who puts up equity and
- 10:49Speaker 3: so basically getting into that. In twenty eighteen, I was
- 10:53Speaker 3: one of the first people that invested into Jazz Pharmaceuticals.
- 10:56Speaker 3: So Jazz Pharmaceuticals could create it which as pharmaceuticals, so
- 11:01Speaker 3: it's a pharmaceutical company and so they've created one of
- 11:05Speaker 3: the first COURTSEHEP narcolepsy treatments.
- 11:07Speaker 2: I don't know if you're ever familiar with the medication
- 11:10Speaker 2: zium so ziraum.
- 11:12Speaker 3: I was one of the first people to be a
- 11:14Speaker 3: part of that in twenty eighteen when it got FDA approved,
- 11:18Speaker 3: and so that has really played a lot into my
- 11:22Speaker 3: career as expanding things. I mean, it's a lot of
- 11:24Speaker 3: things that you can't say because it's NDA's on certain things.
- 11:27Speaker 3: But it's okay, so.
- 11:29Speaker 2: Doctor Tatum, now that Doctor Tatum has nothing to do
- 11:32Speaker 2: with medicine. Now, okay, let's go and get that clear.
- 11:35Speaker 2: Which is a compliment it academia, but a drug. Yeah,
- 11:41Speaker 2: how did you see that?
- 11:42Speaker 3: So, I mean basically everything that they presented, like, man,
- 11:46Speaker 3: I see, I'm the kind of person where when you
- 11:50Speaker 3: when you I'm all about careers, I'm all about a personality.
- 11:54Speaker 3: I'm all about meeting somebody and when a person can
- 11:56Speaker 3: come to you and present this product and helping out
- 12:00Speaker 3: people and being something, I'm all for it.
- 12:02Speaker 2: I'm all for it.
- 12:03Speaker 3: I'm all about morals. I'm all about things that I
- 12:06Speaker 3: care about. So anything that can help, you know, people,
- 12:09Speaker 3: help the natural cause of things cure cancer, things like that.
- 12:13Speaker 3: I want to be a part of, you know, And
- 12:15Speaker 3: so it was I thought it was a great opportunity.
- 12:17Speaker 3: The business was great and it started, you know, and
- 12:20Speaker 3: I mean ten million dollars right now it's evaluated that
- 12:22Speaker 3: I don't know, one point four billion dollars or something.
- 12:25Speaker 2: So it has been very great.
- 12:28Speaker 3: And I mean part of KKR, the Carlile Group, Blackstone,
- 12:33Speaker 3: Oh my goodness, it's so many groups.
- 12:34Speaker 1: That Oh yeah, Blackstone, that's the that's the billion big
- 12:40Speaker 1: people like that they are. They are getting people elected
- 12:44Speaker 1: in at the White House. That's how powerful those names
- 12:47Speaker 1: are that you were mentioning. Now that's that's the first step,
- 12:51Speaker 1: because I want to charge your progress here. You know,
- 12:54Speaker 1: ten years old giving us the axophone, right thirteen man
- 12:58Speaker 1: Kenny g got the tour.
- 13:01Speaker 3: At the tour and it took a minute from thirteen
- 13:04Speaker 3: sixteen years people fourteen.
- 13:07Speaker 2: Jump out the out track.
- 13:08Speaker 1: But then and then your investment in a pharmaceutical product.
- 13:14Speaker 2: And are you following just good instinct? Oh no, I
- 13:18Speaker 2: do my due diligence.
- 13:19Speaker 3: I mean a little good instinct, but a lot of reading,
- 13:22Speaker 3: a lot of research. I mean, you know, a lot
- 13:24Speaker 3: of understanding what the product is a lot of understanding. Hey,
- 13:28Speaker 3: you know, what's the return on this? What is going
- 13:30Speaker 3: to be my return on the investment? How much can
- 13:32Speaker 3: I guarantee? How much can I make from my equity?
- 13:35Speaker 2: You okay, you're.
- 13:36Speaker 1: Twenty four now, right, Okay, twenty one you got your
- 13:39Speaker 1: first hotel property, so I'm.
- 13:41Speaker 2: Sure we do.
- 13:42Speaker 1: It's eighteen eighteen, you running these thoughts into your mind.
- 13:45Speaker 2: Eighteen.
- 13:46Speaker 3: I was on my own at eighteen, and so, I
- 13:48Speaker 3: mean I just was a sponge, Like I wanted to
- 13:51Speaker 3: learn map is one of my favorite things. Finance everything.
- 13:56Speaker 3: I don't feel like nothing is more important than finance.
- 13:58Speaker 3: You know what I'm saying? Money is important, right, right?
- 14:02Speaker 3: And so I wanted to be a person where I
- 14:04Speaker 3: didn't have to go to work. I didn't want to
- 14:06Speaker 3: be an artist that had to stay on tour to
- 14:08Speaker 3: maintain I wanted to be a person to say, hey,
- 14:11Speaker 3: if I don't want a tour right now, I don't
- 14:13Speaker 3: have to tour.
- 14:13Speaker 2: I can still maintain my life. And so I really
- 14:16Speaker 2: really studied and really really try to basically understand everything
- 14:22Speaker 2: where I wouldn't be in that position.
- 14:24Speaker 3: And so I was a sponge. I would just read
- 14:26Speaker 3: re read, listen, meet people. I mean talk to so
- 14:30Speaker 3: many different people. I meant tons and tons of people,
- 14:32Speaker 3: different produced shares and certain certain things.
- 14:35Speaker 2: And then I.
- 14:39Speaker 1: Just throw out these words that you know, people in
- 14:43Speaker 1: fourties fifties are afraid to say out loud.
- 14:46Speaker 2: Yeah, especially people who are of color. Yeah.
- 14:49Speaker 3: And I And that was another motivation for me, because
- 14:53Speaker 3: you know, when you would see people of color and
- 14:55Speaker 3: you would see the other races, I didn't want to
- 14:59Speaker 3: be something like. I didn't want to follow the same
- 15:01Speaker 3: footsteps of a lot of people. I wanted to be
- 15:04Speaker 3: a person. When I'm in the meetings, like when I'm
- 15:06Speaker 3: with my accountants, they can't make a decision without me
- 15:08Speaker 3: because I know what they're talking about. You can't go
- 15:10Speaker 3: in there and say this is what we're paying on time. No, no, no,
- 15:13Speaker 3: I know what we're talking about. I know the percentage,
- 15:15Speaker 3: I know the interest rate on playing you know, so
- 15:17Speaker 3: they like, he knows this stuff. But it helped you
- 15:20Speaker 3: in each venture because it's like when you're going on tour,
- 15:23Speaker 3: how much is this tour bu's gonna cost me?
- 15:25Speaker 2: You know, how much is this production going to be?
- 15:27Speaker 3: It makes you ask all the right questions, so I
- 15:29Speaker 3: think that really has helped me scope basically, you know everything.
- 15:34Speaker 2: That I've done. Please don't go anywhere.
- 15:36Speaker 4: We'll be right back with more money Making Conversations master Class.
- 15:44Speaker 4: Welcome back to Money Making Conversation master Class with me
- 15:47Speaker 4: Rashawn McDonald.
- 15:49Speaker 2: I love it. I love it.
- 15:49Speaker 1: Now let's get to the big Tea's at the beginning,
- 15:54Speaker 1: the first hotel and that you even at when we're
- 15:59Speaker 1: talking about twenty you started this vision of trying to
- 16:03Speaker 1: get in this direction.
- 16:04Speaker 3: So I mean I was a part of the Coolju
- 16:06Speaker 3: Bay Fund, which is a multifamily real estate development in
- 16:10Speaker 3: northern California. So I was already a part of real
- 16:13Speaker 3: estate before the hotel. COVID hit.
- 16:18Speaker 2: Stop stop. I'm looking at the young dude. They he's
- 16:23Speaker 2: talking like a forty. You just throw it out, this
- 16:27Speaker 2: turn it out, and it's a beautiful thing.
- 16:29Speaker 1: Because so many people at a young age are told no,
- 16:35Speaker 1: stay in your place.
- 16:36Speaker 2: That's a bum, that's above your abilities.
- 16:39Speaker 1: You know the relationships, that's a scam. And all I
- 16:45Speaker 1: keep hearing is due diligence, doing research, understand the value
- 16:49Speaker 1: of relationships. You don't jump in without a clear understanding
- 16:53Speaker 1: the direction. Those are adult experience, well heated advice term
- 17:02Speaker 1: that you tell people and that comes from somebody in
- 17:05Speaker 1: their forties and fifties who was talking to you.
- 17:09Speaker 3: I felt like I seen so many people go wrong.
- 17:13Speaker 3: It was easy for me to not do what.
- 17:15Speaker 2: They did right, right, right, right right. But I had
- 17:18Speaker 2: a lot of older mentors, you know.
- 17:20Speaker 3: I mean even to this day, me and Kenny Gy talk,
- 17:23Speaker 3: Me and Keith Sweat, we talk all the time.
- 17:25Speaker 2: You whatever, you Lenny. It's so many.
- 17:29Speaker 3: I've had so many great people who've poured into me
- 17:33Speaker 3: where you know, they can tell you what to do,
- 17:35Speaker 3: what not to do.
- 17:36Speaker 2: You can look at them and.
- 17:37Speaker 3: And I just was wanted to be around people who
- 17:40Speaker 3: had a lot of things going on and you know,
- 17:43Speaker 3: just giving you motivation. They waking up, not drinking, not smoking,
- 17:46Speaker 3: and healthy. I wanted to be that person, you know.
- 17:49Speaker 3: I wanted to mimic those habits, and I think it
- 17:52Speaker 3: transpired very well into everything that I've done.
- 17:55Speaker 1: Okay, now we can go back. I don't feel like
- 17:57Speaker 1: I got to stop you. You just when you get
- 17:59Speaker 1: me away, you blow me away. I gotta come back
- 18:02Speaker 1: and go Okay, now we get back.
- 18:03Speaker 2: To property, first property, first property.
- 18:06Speaker 3: So yeah, I developed his ninety eight rooms and Exit
- 18:11Speaker 3: two sixty nine, Kennesauth, Georgia, Kendl Woods, Swites. So I
- 18:16Speaker 3: basically found the deal was that was his name, Keith Worsham.
- 18:19Speaker 2: He basically brought the deal to me. And it was
- 18:22Speaker 2: during COVID.
- 18:23Speaker 3: So I wanted to find a venture that was recession proof, yes,
- 18:28Speaker 3: and so during that time money was different. A lot
- 18:31Speaker 3: of companies was down, stocks and things, everything was down.
- 18:34Speaker 3: So I was looking at something. I want a.
- 18:36Speaker 2: Business that can make money every day, that's basically.
- 18:40Speaker 3: A money making machine, prints money, you know, something that
- 18:44Speaker 3: can perform in COVID. And when I did my due diligence,
- 18:48Speaker 3: the thing was not full service hotels like the big mariauds,
- 18:51Speaker 3: but extending days. And so when I looked into it,
- 18:55Speaker 3: I'm like, you can clear this kind of money. You
- 18:58Speaker 3: only got fifteen employees? Got this and that you can
- 19:01Speaker 3: make this kind of money how much I need to?
- 19:03Speaker 2: And then it's like dang.
- 19:04Speaker 3: I always this was my dream to own my own
- 19:06Speaker 3: hotel one day, so I was like, how can I
- 19:09Speaker 3: be with that?
- 19:10Speaker 2: That was a dream.
- 19:11Speaker 3: It was a dream because we lived in a hotel
- 19:13Speaker 3: for two years. Okay, so you know, being in four
- 19:16Speaker 3: hundred square feet of a room, you know, was rough,
- 19:19Speaker 3: but I was like, God, you.
- 19:21Speaker 2: Got to get me out of this situation, right And so,
- 19:24Speaker 2: you know, it was a dream of mine.
- 19:25Speaker 3: I always wanted something that I can build from the
- 19:27Speaker 3: ground up and ride by it and say, wow, I
- 19:30Speaker 3: built this.
- 19:31Speaker 2: This is me right here. And it was a challenge.
- 19:34Speaker 2: It wasn't easy. It was a challenge. I learned a lot.
- 19:37Speaker 3: The person that I learned from and I think his
- 19:39Speaker 3: name was Neil Platel he passed away, and so but
- 19:43Speaker 3: you know, they gave me a lot of porners on hey,
- 19:46Speaker 3: this is what you do, this is what you don't do.
- 19:48Speaker 3: He built twenty hotels. So I felt like all of
- 19:51Speaker 3: my experience came from people who've basically been through what
- 19:55Speaker 3: I'm going through, or to their previous owners, so they
- 19:59Speaker 3: can tell you all the dudes and don't's better than
- 20:00Speaker 3: anybody can versus somebody who's just trying to sell you something.
- 20:04Speaker 3: So it was had its ups and downs, but it's
- 20:07Speaker 3: been pretty great, we know. It was the thing.
- 20:11Speaker 1: I heard out so quickly was the fact you said, Rishwan,
- 20:14Speaker 1: fifteen employees naming our rooms, And.
- 20:19Speaker 2: Then I went wow.
- 20:21Speaker 1: Other than the electricity, and the water and security. Then
- 20:26Speaker 1: your expense is a washing and a.
- 20:28Speaker 3: Drying, right, yeah, I mean, you know, and payroll and housekeepers.
- 20:32Speaker 3: But I don't have a full service kitchen. I mean
- 20:35Speaker 3: I have a you know, like a food Kiosta so
- 20:38Speaker 3: to say. So, yeah, so when I looked at that
- 20:41Speaker 3: model and I've seen.
- 20:42Speaker 2: Which I never had thought about, and then.
- 20:44Speaker 3: COVID you know, if you think about it, because my
- 20:46Speaker 3: main clientele, it's not the generic people like a full
- 20:50Speaker 3: service hotel. It's mainly people who's who's coming from insurance companies,
- 20:54Speaker 3: you know, traveling nurses, traveling doctors, construction workers. So you
- 20:59Speaker 3: have a buffalo the people coming in at once. So
- 21:03Speaker 3: it extends that you're not just staying for one or
- 21:05Speaker 3: two days. You're staying for at least five days or more.
- 21:08Speaker 3: So you got nine eight rooms you have, I mean,
- 21:12Speaker 3: you know companies they might get thirty rooms at a
- 21:14Speaker 3: time and they might be traveling for thirty days.
- 21:17Speaker 2: Wow. So you know, you can look.
- 21:18Speaker 3: At your revenue and say this is the amount of
- 21:20Speaker 3: money that you can make, you know, and you can
- 21:23Speaker 3: basically look at things and say, okay, from this month
- 21:26Speaker 3: all the way up to November, I'm looked up so
- 21:29Speaker 3: you can see your money.
- 21:30Speaker 1: Yeah, there are certain models out there that to me
- 21:32Speaker 1: a printing money, like people with accounting tax preparers.
- 21:37Speaker 2: Guess what, the laptop and the software.
- 21:39Speaker 1: Okay, especially nowadays they don't even have to print out
- 21:43Speaker 1: tax returns anymore.
- 21:44Speaker 2: The military and file online.
- 21:46Speaker 1: Yeah, and so, but I never saw it from that
- 21:48Speaker 1: perspective because I would go, man, it has to be
- 21:52Speaker 1: there is difficulty in any business that you do. But
- 21:55Speaker 1: what is that model? What is that profit margin? And
- 21:58Speaker 1: then the fact that you said we'll shana, I don't.
- 22:00Speaker 2: Have a kitchen. I'm not getting into that.
- 22:02Speaker 1: I'm not trying to say you come down now at
- 22:05Speaker 1: your property. Do you do the free breakfast or things
- 22:09Speaker 1: like that?
- 22:09Speaker 3: That's your Probably at the Candlewoods, it's a kiosk where
- 22:13Speaker 3: you could buy your own but the embassy is a
- 22:15Speaker 3: totally different.
- 22:16Speaker 2: Okay, that's the next conversation we're about to have, right.
- 22:18Speaker 1: Okay, So let's so it's two candle Wor tweets that
- 22:21Speaker 1: you got right, So they near each other, they Georgia.
- 22:26Speaker 2: Offer exit from each other. Okay, cool, Yep, you're not
- 22:28Speaker 2: competing with yourself? No, no, Because.
- 22:33Speaker 3: The way I look at street, so when I'm looking
- 22:38Speaker 3: at these billion dollar companies, right and Samsung, you learn
- 22:42Speaker 3: how to monopolize the market. You have the top performing
- 22:46Speaker 3: properties there. So I'm basically when I designed and developed
- 22:50Speaker 3: my hotels, I wanted to develop them like a rich Carton.
- 22:54Speaker 2: I wanted to be able to have the same you.
- 22:57Speaker 3: Know, like I tell my general manager, when people come
- 23:01Speaker 3: in here, address somebody last name. If even if you
- 23:04Speaker 3: don't know who they are, you can look at their reservation,
- 23:06Speaker 3: make them feel welcome, make them feel at home.
- 23:08Speaker 2: We have water.
- 23:09Speaker 3: When holidays come, you know, dress decorate like, make it
- 23:14Speaker 3: feel good. So when people are coming in here, even
- 23:16Speaker 3: though they might not be spending no more than one
- 23:18Speaker 3: hundred and sixty dollars, make them feel like they're a
- 23:21Speaker 3: million dollars.
- 23:21Speaker 1: Now that's part of the what IHG okay? Can you
- 23:25Speaker 1: can you tell people some of the properties that are
- 23:27Speaker 1: tied to.
- 23:28Speaker 3: Ih Candlewood Sweets, Intercontinental Suites, what else IG has?
- 23:34Speaker 1: Because I am a's a lot of member of IHG,
- 23:38Speaker 1: so I know I got my little van number. I mean,
- 23:42Speaker 1: it's really an incredible property to be a situated. I
- 23:44Speaker 1: O resently, I just bring that up. If you if
- 23:46Speaker 1: you do your homework. Just type in IHG dot com
- 23:50Speaker 1: and all these hotels popper and go. Yes, they so
- 23:53Speaker 1: want to this twenty one year old young man who
- 23:56Speaker 1: now has three properties. Now you said NBC sweets a
- 23:59Speaker 1: little bit different. That's different to the different A little
- 24:02Speaker 1: more expensive, at more aggressive, a little bit more aggressive.
- 24:07Speaker 3: It's a full service hotel, so you have a full kitchen,
- 24:10Speaker 3: you have a but it's still a it's more of
- 24:12Speaker 3: a you have the sweet style rooms, but it's more
- 24:15Speaker 3: of a full service operation. So, you know, versus you
- 24:18Speaker 3: having fifteen employees, now you got sixty four. You know,
- 24:22Speaker 3: you got food and beverage directors, you got you know,
- 24:26Speaker 3: regional manager, you have a lot of more different positions.
- 24:31Speaker 2: You got these nice little canter with sweets. You know,
- 24:34Speaker 2: fifteen people of.
- 24:36Speaker 3: You kind of want to have both of them, you
- 24:38Speaker 3: know what I'm saying. And so with me, it was
- 24:40Speaker 3: like it was a great opportunity.
- 24:42Speaker 2: I see, I see you're going up the food tape.
- 24:44Speaker 2: I'm going up. I'm going up. I'm going up.
- 24:47Speaker 3: I'm also working on and you can't no, you can't.
- 24:50Speaker 2: Oh no, you can't skip nothing. You got to take
- 24:53Speaker 2: your piece.
- 24:55Speaker 1: And so so so that's the process that you are,
- 24:58Speaker 1: that you're educating yourself, as you say, doing your due diligence.
- 25:02Speaker 1: You know, faith plays a tremendous role in your life,
- 25:06Speaker 1: but a business plan is how you operate right now.
- 25:10Speaker 1: With that being said, do you are you the mentor
- 25:14Speaker 1: now the people even though you're a young person.
- 25:18Speaker 2: Yeah, a lot of people. You're playing life now. A
- 25:20Speaker 2: lot of people tell me that I'm a mentor to them.
- 25:21Speaker 2: A lot of people tell me that I give them motivation.
- 25:25Speaker 3: Because I try to always be a constant sponge, like
- 25:29Speaker 3: every day I feel like I can learn something new.
- 25:31Speaker 2: I try to push myself.
- 25:32Speaker 3: That's why in twenty twenty one, I went to war
- 25:35Speaker 3: and online Wall Street Prep.
- 25:37Speaker 2: That all produce there CPA, they all go through that.
- 25:39Speaker 3: So I wanted to be able to have the proper
- 25:42Speaker 3: credentials so I can actually say when I'm in front
- 25:45Speaker 3: of people that you're just not talking to somebody who's
- 25:48Speaker 3: just done reading and things. I've actually had the credentials
- 25:51Speaker 3: to be able to operate at the level that I'm
- 25:54Speaker 3: operating in.
- 25:54Speaker 2: Okay, I got it. I have to do my due diligence.
- 25:57Speaker 1: If I'm shit in front of African American young man
- 26:01Speaker 1: bought his first property twenty one years old. He's twenty four.
- 26:04Speaker 1: Where are these properties located in the state of Georgia
- 26:08Speaker 1: if somebody is listening to the show, because you know,
- 26:10Speaker 1: we like to support each other.
- 26:11Speaker 2: I know, I know.
- 26:12Speaker 3: So the first property is Candlewood Suite in Kensall, Georgia,
- 26:16Speaker 3: right off exit two sixty nine Ernest Spirit Parkway. The
- 26:20Speaker 3: other one is a candle Wood Suite Truist Park off
- 26:23Speaker 3: of Truist the ballpark.
- 26:26Speaker 2: What's that Codplace Boulevard. I know exactly what that s at.
- 26:29Speaker 2: And then my.
- 26:30Speaker 3: Last property is the MBSCY suites Halsion and Alpharetta in
- 26:34Speaker 3: the new facility. That's the next exit up after Avalon.
- 26:39Speaker 3: And then I'm working on some other properties as well.
- 26:41Speaker 1: Okay, my next question of future Endeavorence. Yes, the music man,
- 26:44Speaker 1: I can talk about mister music man. Yeah, you know,
- 26:48Speaker 1: money made conversations mass multiple streets of income.
- 26:52Speaker 2: We have not slid the music and tour to the side.
- 26:55Speaker 2: But everybody can't do the tour, don't have that gift
- 26:58Speaker 2: that God gave him. But they can't figure out how.
- 27:01Speaker 1: To get in to hold their properties based on the
- 27:03Speaker 1: knowledge or providing with you what are some of the
- 27:06Speaker 1: stipulations that one has to do to try that you
- 27:11Speaker 1: had to go through to be able to be considered
- 27:14Speaker 1: a property owner under HG.
- 27:17Speaker 2: So number one, you have to be able to have
- 27:21Speaker 2: the money to get into it. Just real money plays
- 27:27Speaker 2: a role. Before they say hello, money plays a role,
- 27:30Speaker 2: you know, I mean you got franchise fees.
- 27:32Speaker 3: That's one hundred thousand dollars that caught you about sixteen
- 27:34Speaker 3: eighteen million dollars to develop a property. So but I
- 27:39Speaker 3: would say, you know, if you want to get into it,
- 27:43Speaker 3: have a know about construction, know about you know, really
- 27:48Speaker 3: try to get the.
- 27:49Speaker 2: GC license, be able to have a GC license.
- 27:52Speaker 3: So basically it's a general contractors having I can't think
- 27:56Speaker 3: of the actual name of it, but it's something that
- 27:58Speaker 3: you can be able to go into a property and say, Okay,
- 28:01Speaker 3: this is how much it's gonna cost. This is how
- 28:03Speaker 3: much I'm going to be spending here. You want to
- 28:05Speaker 3: make sure that because you have so many rigorous inspections.
- 28:07Speaker 3: You got you know, fire inspections, I mean age back
- 28:10Speaker 3: inspect You have so many inspections when you're developing these
- 28:13Speaker 3: properties that if the concrete is an inch off, they'll
- 28:17Speaker 3: come out and make you tear all this stuff out,
- 28:19Speaker 3: and you think it's a joke until you got to
- 28:22Speaker 3: pay fifty thousand dollars to tear some concrete up right.
- 28:25Speaker 3: And so it's a lot of things, dudes and don'ts
- 28:27Speaker 3: that you have to. And I felt like I had
- 28:29Speaker 3: the blessing to have a previous owner be able to
- 28:32Speaker 3: walk me through, you know, the steps, because if not,
- 28:36Speaker 3: I would have made a lot of you said, due diligence,
- 28:38Speaker 3: due diligence, due diligence, and one of these future endeavors.
- 28:42Speaker 2: So future endeavors.
- 28:43Speaker 3: Right now, I have land for two true by Hilton's
- 28:46Speaker 3: in Tupelo, Mississippi. I'm working on a Hilton in Nashville, Tennessee.
- 28:54Speaker 2: I just I just love he's so young and so
- 28:58Speaker 2: component that working. We're working on the Sweat Hotel, Key Sweat,
- 29:05Speaker 2: get it to the hospitality.
- 29:07Speaker 1: You're gonna have a real swing hoteltel.
- 29:13Speaker 2: So we're working on that. Album is coming from me.
- 29:18Speaker 2: I'm probably gonna go back on to it maybe sometimes
- 29:21Speaker 2: next year. I'm gonna figure it out. I'm working on
- 29:23Speaker 2: it and.
- 29:24Speaker 1: Really get that there has to be what is your
- 29:27Speaker 1: support group?
- 29:28Speaker 3: My support group, they're pretty good. Okay, I got a
- 29:31Speaker 3: real strong support group.
- 29:33Speaker 2: You know.
- 29:33Speaker 3: They they're real low key, out of the way, but
- 29:35Speaker 3: I have a they think I'm crazy because I can't.
- 29:39Speaker 3: My mind is just every day I wake up, I'm like,
- 29:41Speaker 3: I gotta do this, I gotta do this, I gotta
- 29:43Speaker 3: do this.
- 29:44Speaker 2: And so, I mean that's a mind of a young person. Yeah,
- 29:46Speaker 2: I feel the mind of an achiever. So why they.
- 29:49Speaker 3: Tripping My support group is high because sometimes, like I
- 29:55Speaker 3: feel like a lot of people don't want to let
- 29:56Speaker 3: go of what I've already done.
- 29:58Speaker 2: But with me, it's like that yesterday, I have to
- 30:01Speaker 2: move forward.
- 30:01Speaker 3: So even though I've done really good, with me, it's
- 30:05Speaker 3: about what I'm doing tomorrow, what I'm doing today, you know,
- 30:08Speaker 3: it's about how can I continue to grow as a person.
- 30:12Speaker 2: And so that's something that continues to motivate me. And
- 30:14Speaker 2: a lot of times they'd be.
- 30:15Speaker 3: Like, oh, You've done so much, they just want to
- 30:16Speaker 3: hold on to all and I'll be like, oh, yeah,
- 30:18Speaker 3: that's cool, but I got to move forward, right, So
- 30:20Speaker 3: I mean, but other than that, it's pretty cool.
- 30:23Speaker 1: You know, it's really you know, we mad KEITHWD introduced
- 30:27Speaker 1: us to Eatailer.
- 30:28Speaker 2: We hit it off, we tax a lot.
- 30:31Speaker 1: Yeah, and I enjoy communicating with you. And you know,
- 30:36Speaker 1: I just you figured it out, man, and I've been blessed.
- 30:40Speaker 1: You know, it's blessing is there. But you figured it
- 30:43Speaker 1: out through consistency and staying true to your dream true.
- 30:49Speaker 1: And I always because, like I told you the Cheard
- 30:53Speaker 1: McDonald you see today, I was this guy between the
- 30:56Speaker 1: ages eighteen and twenty three. And what's putting the words
- 31:04Speaker 1: like lucky right place at the right time. Never about
- 31:08Speaker 1: looking in the mirror and saying, this is a unique
- 31:11Speaker 1: talent that you have. You've accepted that, Isaiah. What does
- 31:16Speaker 1: that mean to you? And how can you express that
- 31:18Speaker 1: to anybody else out there who may have these visions?
- 31:22Speaker 2: But people keep telling them that'll never work for you. Well,
- 31:27Speaker 2: a lot of people told me that, you know.
- 31:29Speaker 3: I look at it where like a lot of people
- 31:31Speaker 3: use the word humble, telling the person to be humble
- 31:34Speaker 3: and have humility. I look at it as sometimes I
- 31:39Speaker 3: tell people, don't lure who you are to fit in
- 31:43Speaker 3: with everybody else just because they don't understand what God
- 31:47Speaker 3: has put on your life and who you are and
- 31:49Speaker 3: your skill set. You're in the wrong circle. Elevate yourself,
- 31:53Speaker 3: because I mean, for real, you know, I look at
- 31:55Speaker 3: things like, don't you don't want to be putting in
- 31:58Speaker 3: a way where a lot of people tell you, all men,
- 32:00Speaker 3: you know you feel this way. You feel this way
- 32:02Speaker 3: because a lot of people might feel that way about me.
- 32:04Speaker 3: They say, oh, he's arrogant, he's conceited, or things like that,
- 32:08Speaker 3: and I feel like I'm not like that. I look
- 32:10Speaker 3: at it as where I'm confident into what I've put out.
- 32:14Speaker 3: I'm confident, companient into the work that I do. I'm
- 32:17Speaker 3: competent into the results that I have received.
- 32:20Speaker 2: Over the years.
- 32:21Speaker 3: So I always say, continue to grow, continue to flourish
- 32:26Speaker 3: on your talents. You know, if somebody is telling you no,
- 32:29Speaker 3: come back and prove to him.
- 32:31Speaker 2: Don't say nothing. Let your results. Let your results speak
- 32:34Speaker 2: for thisself, and then they'll see and come back. You know.
- 32:36Speaker 1: Well, sir, Well, sir, your results are pretty impressis thank you?
- 32:42Speaker 2: Hey, you be quiet, let me talk about you.
- 32:44Speaker 1: Age of ten, picked up a saxophone, stumbled through it.
- 32:49Speaker 1: I know how big that saxophone was at the age
- 32:51Speaker 1: of ten, dragging the dollars.
- 32:52Speaker 2: In middle school, dragging down the street heavy, every bleave.
- 32:56Speaker 2: It is a difference between that B flat.
- 32:58Speaker 1: Claring that case and that's the whole case and being
- 33:02Speaker 1: a Kenny G relationship an artist. I think that that
- 33:06Speaker 1: played a major role in yourself. Music played a major
- 33:08Speaker 1: role into who you are today twenty one years of age.
- 33:12Speaker 2: IHG. If you want to know, they are for the truth.
- 33:15Speaker 2: I HG.
- 33:17Speaker 1: Two kind of with sweets and embassy suites. You're talking
- 33:19Speaker 1: about Mississippi, talking about Tennessee its future endeavors. Congratulations, man,
- 33:24Speaker 1: Thank you being appreciate, humbled but confident, and I think
- 33:29Speaker 1: that's two things. Yeah, and being able to have as
- 33:34Speaker 1: well as being a visionary. And the interesting thing is,
- 33:38Speaker 1: as I closed this interview, is that you know there's
- 33:42Speaker 1: a journey out there.
- 33:43Speaker 2: When I remember.
- 33:44Speaker 1: I look back when I was in my twenties, my
- 33:46Speaker 1: thursdies and for you know, in my sixties now and
- 33:49Speaker 1: I go and I can tell people honestly, I had
- 33:51Speaker 1: a career. But you know, early success and success now
- 33:57Speaker 1: are two different success journey and you're establishing a foundation
- 34:03Speaker 1: that your journey is going to be We're supposed to
- 34:05Speaker 1: be when you're fifty, sixty, seventy eighty until you retire
- 34:09Speaker 1: from life.
- 34:10Speaker 2: Congratulations on getting you and.
- 34:12Speaker 1: Understand it, and thank you for coming on money Making
- 34:14Speaker 1: Conversation master Class.
- 34:15Speaker 2: You know I had to come on here. You have
- 34:17Speaker 2: to come on here.
- 34:18Speaker 1: Brother.
- 34:20Speaker 4: This has been another edition of Money Making Conversations Masterclass
- 34:24Speaker 4: hosted by me, Rashawn McDonald. Thank you to our guests
- 34:28Speaker 4: on the show today and thank you our listening audience. Now,
- 34:32Speaker 4: if you want to listen to any episode I want
- 34:35Speaker 4: to register to be a guest on my show, visit
- 34:38Speaker 4: Moneymakingconversations dot com. Our social media handle is money Making Conversations.
- 34:44Speaker 4: Join us next week and remember to always leave with
- 34:47Speaker 4: your gifts. Keep winning