Inside Tracy Prigmore's $3.2M Debut in Hotel Investing | Ep 147

Speaker A: Hey, welcome to the Capital Raising Show. I'm your host, Nate Dodson, and today you're going to learn a little bit about the right asset Class is actually some of my favorite as of the summer 2025 for you to really be focused on from really an amazing entrepreneur, a proponent of women entrepreneur, a capital raiser herself, operator of, I'll give the hint, hotels. But I will never be able to do as good a job as she who has a deal. Tracy Frigmore, thank you so much for joining us today. And if you don't mind, just take a couple of seconds and do a much better introduction than I was able to.

Speaker B: Oh, hi, Nate. Thanks for having me. So I like to call myself a hotel owner, operator and developer now. However, I do own other types of real estate, but right now my portfolio is very heavily weighted on a numbers basis in hospitality, in hotels, hotel real estate. But I also have a platform and I like to consider myself a, uh, servant leader. And what we do with my platform. She has a deal, which is a real estate investment platform that creates new pathways to hotel ownership and development for women. And through our education as a knowledge accelerator as well as a pitch competition and an emerging managers program. So I'm happy to be here. Hopefully that gives you a good idea of who I am.

Speaker A: You know what, Dan, I'm so excited for you to be here. There are so many avenues that you just touched on that I really want to focus on just to kind of take things in order. Let's talk about these hotel opportunities. And just to share, I genuinely think that that is the industry, the asset class to be looking at in 2025, mainly because we've had an amazing run with multifamily now stretching back more than a decade. Those have kind of hit their limits. We've got Airbnb, they've been great, but they've kind of hit their limit. Now all of a sudden, something similar that happened with apartment complexes. People would have portfolio of single, uh, family homes put all together in one property. You're also seeing this now. Very much so. And we're experiencing this on the law firm side. The guys that have been buying Airbnbs, been running Airbnbs all of a sudden have that same light bulb that goes off of what if we throw that onto one property? Yeah, Been a great way to really push values up. But I'm, um, singing to the choir. Tracy, why do you like hotels?

Speaker B: For me, I gravitated toward hotels when I was traveling extensively for work. So I travel for business and then I love to travel for leisure and so when I found out that hotels could be bought, I just was drawn into it. I just love a, ah, great hotel with amazing experiences. And I think that's why we're seeing such uh, a surge in the interest, you know, in hotels and different types of hotels is because people want experiences. People have learned that, you know, things aren't as important as, you know, sharing experiences with friends and family and that feeling, you know, that you get. And really a hotel is a home away from home. And one thing that I learned, and I don't know all the history of, was that hotels originally came about because they wanted to create something that was beyond what you could get at home. So today, you know, we have a mix of types of hotels. But I think people love the allure of, you know, what happens in the hotel from the food and beverage, the drinks, the spa, you know, whatever that that particular owner has created as an experience. People want to soak that up and take it in. So for me, from a practical standpoint, it's about the way it makes you feel and the experience. From the money standpoint, it's about the fact that it's real estate. I love real estate and it's an active business so I get the benefits of it being real estate. And probably, I'm sure many of your listeners know the benefits of real estate and why we invest in real estate. But it's also this active business that if you put in the energy and your imagination, you can exceed financially by increasing the income. And that's really that uh, forced appreciation and that's up to your imagination of what you can create and what people are willing to pay for it.

Speaker A: Let me ask you this. I mean everybody, they know, the big brands, the Marriotts, the Hilton, I actually know that you have been working on, if you don't already have some of these big name hotels are, are affiliated with you or at least their brand is on your properties. That's really confusing to me. And I know others, like, are you a, ah, franchisee? Are they just giving you the brand? Like how does that really work?

Speaker B: Yeah, it is, it's a franchisor franchisee model. And that's what I didn't know when I came into the ideal epiphany to become a hotel owner. I thought that they were all owned by Hilton, Marriott and Hyatt and which they were actually, uh, so when I go back and you know, trace the history and when I came into knowledge of it being an opportunity that was accessible to me, Because I never thought it was even after taking a commercial real estate class that said hotels are a special asset class. Like okay, move on. Like am I going to do retail, Am I going to do multi? And so that franchise model, what happened? You know, the big brands are mostly asset light, meaning they don't uh, own m any of the hotels, they're purely on a franchise model and their revenues come from licensing fees and royalties and other fees for the services that they provide for us. So it's a franchisee franchisor model. You know, with your, your big brands, there are some others that have a membership model, but the ones that we all probably know about and stay at frequently are uh, mostly under a franchisee franchise or asset light.

Speaker A: So, so let me ask you this. Buy versus build. I know you're kind of doing, have done a mix of both buying the operating, maybe for improving or just cash flow. And also you've been going ground up. Can you speak a little bit to kind of the different strategies and where you're leaning as the smartest thing to do, being the smartest in the room, kind of what makes the most sense?

Speaker B: Well, it depends on your investment goals and it also depends on your pocketbook. Right? So how much money or what access do you have to capital? Because when you're building, we all know it, there's a long process to building. It could be two plus years of putting in money and getting zero out. And then you also have to have the patience and you have to know how to navigate that particular jurisdiction where you're building. You have to know how to navigate, you know, a general contractor and you know, just everything that goes into bringing that hotel to life. Ideally, I mean you're taking a piece of dirt and you're creating tremendous value that has a nice return on the exit. But you know, cycles really make a difference as to the feasibility and locations and geopolitical issues really have an impact on your ability to build and for how much. So right now for the most part it's cheaper to buy than to build. Uh, again, and you're uh, looking in different areas, it might be better, you know, to build because it doesn't exist and the supply isn't there, but you can take existing assets today and even renovate them and end up with the cost per key lower than a ground up construction with less risk. Given that you have that development risk

Speaker A: and I know that cost to build versus cost to buy that changes through time. Is there anything that you see in the market that's happening today? Why the buy versus build, build versus buy. What's driving the growth or the investment attraction today compared to in the past?

Speaker B: Yeah, well, I think, you know, right now you've got uncertainty, right? We all thought interest rates were going to be going down, and they haven't gone anywhere in the last couple years. And so there's that factor. And then the tariffs, you know, everything going on with Trump and the uncertainty and the shaking up, it's tariff one day, tariff, not the next day. You know, 100%, whatever, right? So there's so many uncertainties. And so when you go into a project and build, I mean, you are, you're all in, you're committed. And so to have that uncertainty makes people uncomfortable and not knowing how to underwrite the deal and underwrite the risk. And then of course, for the money, for the capital, if they're uncomfortable, they're not putting out the capital. So as a developer, if we don't have capital sources, were unable to build, or if the cost of that capital is exponential, then, you know, we would have to abandon a project, potentially even partial way through after you put in millions, you know, for the architects and engineers and the land, all of that. So, you know, when people look at it and say, you know, think about all these material costs, it's like, well, with that risk and given that there's over here supply that I know I can take, I have history to look at, I can put some millions into that to modernize it, to revitalize it. You know, sometimes it's a better bet. But again, if you're, uh, going into an emerging market where there just isn't anything, then building is probably the only way that you're going to get into a market. And if you can be first to market and if you can get out the ground, you'll have a competitive advantage, right? Because especially because the number of starts are so low at this time when you know you're finally out the ground, you'll have a head start on any new product coming in.

Speaker A: So. So I've got a weird, very true side story about. Just last week, I was speaking at a conference in Salt Lake City. It was actually about a half hour outside of it. I get out to the hotel that I thought I had a reservation at. Uh, turns out I didn't get a reservation. I will blame my assistant, but the reality is it's still on me. It's unfortunately pretty late, and the receptionist was so helpful that she just picked up the phone and helped me start dialing hotels and actually couldn't find a single hotel with a single room available. But for uh, honestly I had to go right back to the airport. They finally found a hotel with a room like 40 minutes away. Like these are really in demand. And even with the uncertainty in the economy, they're filled, they're busy. And obviously, at least in Salt Lake City, they desperately need a few more because that took me about two hours plus to actually find a room again. Just another reason why I absolutely love the asset class you're focused on.

Speaker B: Yeah. And it, it's, it's supply and demand. Right. And it depends, like August is usually slow for us, you know, for our hotels outside of the D.C. market. Right. Because the Congress is out, they're on recess, whatever. And we had a great August. And I'm like, well, what is going on? Right, like what? And it's really about what events and activities and you know, who's in Beyonce or Taylor Swift or you know, who's, who's, who's doing what in town that will drive up that demand. And so, you know, we have uh, in the markets where that demand stays pretty steady and up Salt Lake City, I've heard, I haven't studied it is in need of more keys, but I'm not 100% sure on that. But it may be, or it may have been just a particular week, weekend that you were there, that there was a huge, whatever or multiple things going on, you know, that created demand, that left you on the streets.

Speaker A: Well, who knows? But I can tell you, two hours later, I was very frustrated and wishing there were more hotels.

Speaker B: Yeah, yeah.

Speaker A: But before we get too deep into it, okay, our audience, our other syndicators, often early stage, they may be doing fund of funds investing or joint venturing with others. Before we get too far along, are you open to working with others that may be wanting to, well, leverage your experience, leverage the relationships, create that synergy for them to be able to raise capital, to be able to work with hotels with an experienced operator. Are you open to those types of relationships?

Speaker B: Absolutely. I mean, I have a vision to grow the portfolio tremendously. And part of it, you know, is with the emerging managers program with elevating women into the space. But we're very open because we know that our growth is going to be in partnership. So whether it's a joint venture, I've been talking with mixed use developers who want hotels, you know, on their property. And some are like, hey, just take the lot and go. And others are like kind of really want to get into the business, you know, so because I met with a developer of mixed use developer last week and I was all excited about what are you doing you know with the multi M and the retail and I'm, I'm like I want to get into that and she's like well I want to get into hotel I guess but I you know we're like well then we should you know get together find a project where know she wants to get into some hotel ownership. I want to diversify a little more. So yes we are open I believe we have amount of experience all the way around that is of benefit.

Speaker A: Love it. Well we'll include your information best contact in the summary but just to share what's the best way that anybody can

Speaker B: get a hold of you? Yeah it's um, through my website which you can share so we have really two websites. The website that we I focus on the most is just been spent a lot of time there is our she has a deal dot com and they can get on through there or LinkedIn. I'm on LinkedIn and they can find uh me Tracey l. Prigmore on LinkedIn you know inbox me I'm on pretty much daily on LinkedIn.

Speaker A: Well now people know how to hunt you down but you've got a particular deal that is going on I don't and you know what, I apologize I didn't ask you this in advance. Both about whether you're open to fund to funds relationships or to speak about the current project that you're working on. I think you're raising capital for it, I don't really know but would you be open to discussing I think it's a Marriott build or something along those lines. Can you talk about that?

Speaker B: Yeah so we actually have a Hilton um, new construction that's ready to break ground so we're entitled permitted we have a loan in place we're raising just a little more. We just need a little sliver of um equity for that project but we just waiting on the lender so we can break ground on that project. So we are getting a construction loan that's going to go construction to perm which is great, minimizes that refinance risk but it's a true by Hilton, a 90 key hotel if you know that brand. It's an upper uh, a mid scale brand, a simple brand. It's located in Redlands California. We already own the land, we have the gc everything's in place we just need to get that construction loan closed and we'll close regardless. But we do have some positions Open some units available in that offering. So reg D506C. So it is for accredited investors. It's right off of the I10, fourth busiest highway in America. So you're looking at, in going from Long beach to like St. Petersburg. So it's very highly traveled. The thing I like about this particular project is when I looked at the numbers, you know, during COVID it barely went down. So there's a lot of diverse demand drivers around the property. It's in San Bernardino county, so there's that transient traffic, that logistics as well as you've got hospitals and hiking and you name it, a lot going on in that market. So a lot of diversity of demand drivers. We like to have that so that if one goes down right, we're not dependent on that for the business and then it sets down on the highway. So some people are like, oh, I don't want a highway hotel. Well, it kind of sits down. So even if you're standing outside, you're not really hearing the highway so much. I love that part of how California kind of designed that. Plus they have noise requirements. So we had to put in big impact windows. The second project I'm working on is much different. So it is a uh, Boutique Hotel, a 60 key. I like to call it our boutique resort hotel. Resort like hotel because it's right next to a country club. So we're arranging for our guests to have access day passes to the country club where they have pools and tennis courts and pickleball and golf.

Speaker A: An avid golfer. So I'm out at the country club at least twice a week.

Speaker B: Yeah. So we're restoring this hotel back to its highest and best use. So when the developer of the country club, he built the hotel and the country club together. So there's no barrier and they're behind like a gated community. When he sold it, the owner of the property sold the hotel to an assisted living facility. So I'm told it's been uh, as assisted living for almost 20 years and it's now closed. So that we're buying it from an assisted living operator who no longer wants to be in that market and didn't really put in any investment into it. So it's literally great bones. And we're totally modernizing it the Georgia and we like to consider it uh, just Georgian estate. It's really something we envision as being a gathering spot. So amazing boutique hotel, upper upscale in the market that really only has, you know, mid scale, upper mid scale properties. So it's. I won't Quite call it luxury because when I think luxury I think Waldorf Astoria, uh, you know Ritz Carlton, St. Regis but somewhere you know in between there where an elevated stay at a lower cost. So we're working on that project as well and it will be under the Hyatt destination by Hyatt flag. So while we created our own unique brand we will be a part what they call soft brand where you create your own brand but you're still under the reservation system. You mitigate a little risk of the marketing aspect. And because it's part of the loyalty program and will be on hyatt.com There's

Speaker A: a big difference between those two. One is a repositioning. It sounds like there is going to be quite a bit of capital expenses. Capex and talking about east coast versus west coast ground up developments. I love that you're a Jackie of all trades in terms of kind of the structure and the approach and how you're kind of getting the deals together. We'll take it one by one. But to go ground up, what's your own process like? I know there's a lot more planning. Civil engineering sounds like lining up GCs and the lenders is just a different process and like a repositioning. Can you speak on that?

Speaker B: Yeah, a lot of consultants right when it comes to building something ground up. And I would not have pursued a ground up development in California on my own if I had not partnered with Jenny who is our emerging manager that was a part of. She has a deal. So she pitched this deal and I really liked the deal and we you know agreed to partner as a part of the emerging managers program. So she had Jenny in her career has developed almost everything and so she has that ground up construction experience and that's why she leaned in to this project to pitch it and she has all. She lives in California, has all those California contacts. So it has been a delight to learn from her on the construction side because I have not built a hotel from the ground up. But then she has not raised capital. You know she does. Has never operated a hotel. She worked for a company who built hotels and worked with them on building them but didn't know anything about how the money came together and you know how it's operated and how the returns and all that work. So it's been a great partnership getting this project off the ground with Jennie. So our team has done a lot of the capital raise and on the other side I'm working with another woman in the emerging manager program from she has a Deal. Venus, who is a licensed architect with extreme amount experience and adaptive reuse. And while this project for her is really lightweight because she's taken structures that were never a hotel and created beautiful hotel properties, with this one at least was a hotel. So the footprint for the most part is the same. It's really just really modernizing it, coming up with a unique, uh, design and operating. But she had no experience. She would deliver beautiful products to owners and developers, but herself had never raised any money or known anything about that whole capital investment process, the operational process, returns, etc. So, again, a good experience and I'm able to, you know, coach them while they're actually teaching me some things too. So it's a beautiful partnership while elevating women in this space. But both projects, a lot of capital, um, and, you know, syndication that we've put together.

Speaker A: Well, just as a, uh, final comment for anybody that's listening or watching on, uh, YouTube, important to know, like, what's your forte? What's your passion? Because if you are a great operator, you want to partner with and find the guys that know how to, or women that know how to put together, raise a capital, work with investors, and vice versa. Yeah, there's no one way to, quote, create a hotel. But this is also the perfect moment to transition towards those women in entrepreneurship. It sounds like you're really helping women get involved through she has a Deal. Could you please share a little bit more about that as well?

Speaker B: Sure. So I created she Has a Deal out of really kind of the frustration and the barriers that I faced getting into the business. Back when I was looking to become a hotel owner and developer, there really wasn't a lot of resources out there. There was no one shouting, hey, let's get more women in. I don't think anybody really cared whether women were in it or not in it. And so having experienced a lot of barriers and I feel like I had to figure it out all by myself. So she has a Deal is really everything I wish I knew, everything I wish I had, and everything I continue to learn along the way. So there's, you know, there's the good, bad, and the ugly. There's the challenges that any entrepreneur faces. And so I just wanted to create something that made it just a little easier, you know, for. And there's no such thing as easy in the business, but that made it more attainable for women to get into the business because I understood and I know and I see the brilliance of women and I see, I love to travel. So I experience A lot of different hotels. And I see where some are, we're really missing the components that others who don't have access to capital that are not at the, you know, development stage, and they're not making those decisions around what to create, what experiences to create. So I believe the world will really be better off when there are more diversity in the ownership and development side of the business. So we're in the business, running the business, but we rarely have the opportunity to bring our, uh, brilliance to life. And I think the market, the hospitality market, will explode with innovative growth when more people have access. And so I wanted to create more access to get in because I bumped my so many times. So that's. It's really about this accelerator. It's all about knowledge. People think we're just a pitch competition. The pitch competition was just to show the world and demonstrate to the world the brilliance that these women have. If they have access to capital, then we, uh, would see more, you know, of the women and what they have to offer. And so that's always the capital. And that's the part where we've opened some doors, but we still have a long way to go in order to make the capital more accessible. So these products, these ideas can be brought to life.

Speaker A: So who's your, we talk about avatar. Who's your target Avatar in terms of someone that wants to join and learn? Is it really. They're already have a skill set as an operator, now they're trying to learn to raise capital. Is they just want to raise a, uh, fund and don't even know where to get started. What type of entrepreneur, and obviously specifically female, would benefit from your program?

Speaker B: Well, I would say grit first. So I don't think you have to have any particular background. I think you have to have grit. Like you have to want it right. You have to be willing to put, uh, in the work because you're having to learn. So I came in from a healthcare background. I ran hospitals. And while there's some similarities, heads and beds, it's very different. But I was willing to learn. I was doing everything I could to soak up the knowledge and information, going to every conference, talking to anybody who would talk to me. So we're looking for women who want to do it. And we have two tracks. We have one for early career because it was my hypothesis that we could build the pipeline for the future if we are explaining and teaching the young women what it takes. And so while they may not be ready today to own a hotel, at least they understood the Game. Right. They understood, or they understand how it works. So they could position their career path in a way that gets them to where they need to be, uh, to be positioned, you know, to own and develop, uh, hotels or any commercial real estate. And then we have the professional women we call today's woman, which would be someone like myself. So I would be an avatar. I was investing in real estate, single family homes, et cetera. And I wanted to get into commercial real estate. And I happened to choose hotels as my asset class. And so I was willing to do anything to learn and figure it out. I knew that I could figure out the operational aspects. What I didn't know Nate until I read and learned about a, uh, predecessor company that you know about with Jean Trowbridge, was about syndication. Like, that was nowhere in my world as a healthcare administrator that syndication existed. And so when I found that out, then I knew, like, hey, I just need to learn how to raise capital. So I knew that that was my only way in. I didn't have millions of dollars, you know, to invest in my own hotel, so I could at the same time, you know, syndicate, but bring other people in. And. And it became my mission because I used real estate to create wealth, you know, for my, myself and my family, that there was a way through real estate for others to do the same. So I wanted to empower them to build wealth, you know, through real estate. I mean, there's many ways, right, to build wealth, but real estate was one. And then attaching yourself to an asset class that you actually enjoy and experience was really how I looked at it. So any. Anyone and not just women for the, you know, the whole package and the competition. But we do work with men. We have coaching and consulting. We have, and do work with men. We just have this formal program for women.

Speaker A: Got it. In terms of kind of their takeaways, is it more network building, sales, structuring deals, the process of due diligence, or all of the above? Can you kind of walk us through what. Yeah, a path would look like it

Speaker B: is all of the above, right? I would say that it's all the above if I had to choose. And as I grow, I can start to siphon off what I'm doing. And I have a little bit, but, you know, I prefer someone else raise the capital. So I can't wait till I get to a point where I have a long standing capital partner because I'm more of. I like to create things, you know, and, and bring it together and, you know, structure the deals and all that, that's my love. I love the numbers. I love trying to figure out how to make this work and look at different financial arrangements, etc. But it always comes down to having the capital so you know, the debt and the equity. So the debt is generally easier to get if the project is sound than it is to get the investment in. So we have been reliant on high net worth individuals, retail investors to invest in our projects. We do have some private equity committed for this particular deal that will be closing very soon. But that's new. When you start off, you're generally right. The friends and family, your sphere of influence. And it's uh, just as work, you know, it's just a lot of work. The people who have the money are the busiest people and so their timeline isn't your timeline. So they're very happy to invest when you lay it out for them. But getting them to, you know, the paperwork is always that thing to get people to take the time to read through the paperwork and such. But it is all the above. So you're selling yourself because people bet on um, people. But you're also selling the project and what it can be. And you uh, know no one has a crystal ball. So you've done all this homework and it appears that the thesis has a high probability of success, but there's no guarantees. And I just take it so serious about taking other people's money. For me that requires a certain level of responsibility, right. And fiduciary duty that I don't take lightly. And the trust that people have in me and had in me for my very first deal. When I think about that, my very first, I'd never done a hotel and to raise $3.2 million for my very first hotel. Um, yeah, I felt huge. Yeah. I thought, wow. And I didn't know. I was scared. I sat on the sidelines for a while thinking about doing this because I'm like, where's the money going to come from? I only have like X dollars. Is this, how is it going to work? Is that syndication thing, does it really work? Will people really trust in me? And um, the great part of it is they did. But I want to go to another level. So it requires just a whole nother avenue to get to millions. If, uh, you know, I have a, my eye on a big resort hotel brand or something, you know, I just. Because I love, I could see it. But it's hundreds of millions of dollars and I'm, I have not gotten to that level with those relationships with the Institutional capital to make that happen.

Speaker A: Well, you've been doing an amazing job so far, especially raising over $3 million on your first day. Deal. Oh, my God. That's. That's biting off the whole whale. Can you speak a little bit to, like, you're just getting started and what you're experiencing and how you approached it, when all of a sudden you get this, oh, I got to raise millions of dollars and now I'm on the clock. Like, how did you accomplish this?

Speaker B: Yeah, I definitely. A lot of grit. Not giving up. Uh, I think once I heard someone say, you can't fail if you don't quit. So I'm quoting that.

Speaker A: And you can't succeed if you don't start big time.

Speaker B: Right. You don't know what kind of doors will open up until you're actually walking through the door. And you know who's going to show up and how they're going to show up. If there's one piece of advice I could give to people is people are always watching you. So some of the comments I heard, because, you know, I came from a whole different industry and a lot of them are my investors, some of them is people are watching you when you don't even know that they're watching you. So people would say things like, yeah, well, I saw how you handled that money when you were on that committee or, you know, how you went from here to there with your own, you know, single family homes and the commitment you put into that. I once had a, uh, someone call me once and said, hey, I want you to take this job. And I have no doubt you can be successful. Even when I had doubt, because I saw how you, you know, started. I started a case competition when I was in healthcare. How you put that together with no resources and it's, you know, it thrived and blah, blah, blah, blah. So I want you to come work for my organization and, you know, do this. So people are always watching you. So even your kids, I posted about that recently. Kids, they're listening to you. People are listening to how you maneuver, how you handle crisis, how you handle joy. And, you know, and that's. They're watching. And so they are making decisions about you when you don't even know they're even know you exist. You have to make sure, you know, you're keeping your reputation clean or, you know, you're showing who you really are. And people can make a decision if they want to invest with you, but you're talking about taking people's money and they're trusting through things that you can't control, that you're going to do the best you can and show up when things aren't always, you know, rosy. So I just like to live in integrity and do my best to always, you know, come to the table with, you know, honesty and my true self with people. And then I also know that I don't give up, right? I don't give up. I may not have the answers, and life and the world is changing every day. So it's like, how. As opposed to can, right? So how can I do this? How can I move this to a different level? You know, how can I get into this deal and I, you know, um, get the door slammed on me all the time, but it's not letting that, you know, knowing that you have a vision and, you know, where you're trying to go. And I don't think I'll get to the promised land that I want, you know, what I would want to do if I had started earlier or if culture had changed earlier. But I feel like if I don't do this, then who will? And then how can the next generation be inspired to move from here? So while I'm, like, excited, I got a Hampton Inn done, right, and now this boutique, my son will be like, well, we're gonna do, you know, a, uh, Ritz Carlton and, you know, I don't know, on the beach and blah, blah, blah. You know what I'm saying? Like, it's that next level of continuing to see how you got there, that they can take it to the next level. So I want my son to see that whatever he wants to do, I want other women. Other. It doesn't have to be just women, but to see that it's possible. And so just giving them, being open to what the struggles are, what the wins are and what it takes, maybe I can be the person that I didn't have right to open up the door. I mean, there are people who opened up doors for me that I don't know, but I directly had trouble finding a mentor in this space. And so if I can just be a model for people.

Speaker A: And that's. That's amazing. And what you're talking about is not just about capital raising. The people are watching. People are watching. Before you ask them for an investment, now for your next investment. The people that had invested or had known you have seen how you've acted as a custodian of funds, as an operator, as a, uh, really taking care of people's retirements. So I love what you're talking about there, about somebody's always watching, and it doesn't end with your first deal, it doesn't end with your last deal. People are always there, and you got to make sure that not only are you treating people right, that you have the ethics and have the integrity, but not giving up.

Speaker B: Uh, yeah, like, oh, I borrowed this from Fawn Weaver, who's the CEO of, um, Uncle Nearest. And she's talked about how, as an entrepreneur, you're going to face hurdles. It just is, right? There's no entrepreneur will say, oh, no, it's a piece of cake.

Speaker A: Just run it.

Speaker B: And so she gives this analogy of Sydney McLaughlin LeGrone. Right? And you know, I'm a big track lover. I was right there at the Olympics last year watching Sydney run. And she was just saying, like, just expect there's going to be a hurdle. Hurdlers know there's going to be a hurdle, but they train for those hurdles, right? So every day I'm facing some kind of hurdle, and it just gives me another mindset when I think about, you know, the training and conditioning I did running in track and that, uh, okay, I'm going to, I'm going to have a barrier, so. Or I'm going to have a hurdle. And it's just like, hey, when, you know, when you see it, you're like, okay, do I have to back up? Do I need to grab somebody, you know what I mean, to help me over that hurdle? But it's. They're going to happen. And it's just like your mindset around it's going to happen. Do I look at it as, oh, my God, woe is me, um, it's over. Or do I look at it like, okay, I've been training for this my whole life, right?

Speaker A: Like, I love it. Well, and I'm sad that I missed you at the Olympics. I was out there, uh, watching the skateboarding, the BMXs, the three on three basketball, and then of course, the Dream Team, US basketball, just being everybody, it was so much.

Speaker B: Got to go to USA Basketball.

Speaker A: Oh, yeah, yeah. It was, it was funny because the game that I watched, they just blew Puerto Rico out of the water. From that point forward, they would look bad, bad, bad, bad, bad. And then at the last minute, they burst ahead and I, I feel like probably the coaches were saying, don't make other teams look bad. Like, at least give them the appearance of having a chance. And I completely. I really think that was going on because when you watch them and they were full court press the entire time, it was Tough to watch. It was like a massacre.

Speaker B: Uh, well, we didn't get to see USA Basketball. I tried because, you know, my son is a huge basketball fan. But we did get to see Greece and Spain and Canada. And in fact, we did the hospitality package and had a chance to. We were in a booth with Giannis's family, and my son got to meet the nasus. And so it was, like, amazing, uh, to have him, you know, experience that. He thinks that's how you do it. Now I'm like, oh, no, no, you

Speaker A: got to make it first. Yeah.

Speaker B: It's not like we got a little lucky. And I did splurge a little bit, but, yeah, no, it was an amaz. I'm still on a high from last. That's last year. We saw track, we saw equestrian jumping and dressage and swimming and gymnastics. I mean, I went all like. I'm like, if we're doing this, I need to. And I had been before, but I did not get a chance to see all of that. But, yeah, I'm just. I'm an athlete at heart. I'm not. Wasn't the best athlete, but it does set you up, right? Being an athlete does set you up for a certain mindset. That's. I'm thinking Celine LaGrange every day because, you know, yesterday I got a hurdle and I'm just working it out.

Speaker A: Love it. Well. Well, I'm. I'm not going to stand in your way because I have a feeling you just beat me up, uh, as you pass me by, so. But thank you so much for joining us today. Do you have any. Your words of wisdom to share?

Speaker B: Yeah, I think we've talked about a little bit. You know, just do it right, do your homework, but, you know, don't let things hold you back. Get started and then don't give up. Right. Don't quit. You don't know what doors are going to open up for you once you're in there and working it out and you get out of it. Really, what you put in, you've got to put in the work beyond the norm. You got to do things that others aren't willing to do to find that gold. You know, I think capital, to me, it's the biggest for me. I don't know what other people's challenges are, but it's capital. And capital is everywhere, but it's nowhere. Right? Like, it's right. You have to go out and find it. So I, you know, I just encourage everyone, you know, don't leave this earth without at least Attempting, you know, to follow what you want to do. And that's for me, I wanted to do this for a very long time. And it took me six years before I got into my first hotel deal for lack of, not necessarily confidence, but not knowing the money part or not having the mentor, not being brave enough to just call every stranger and say, hey, help me do this. So yeah, you've got to, you've got to just start where you are. And I started with that, ah, Hampton Inn and other people I've talked to started with bigger deals. But I started where I was, where I thought, hey, I can do this and get this M money. So just, just do it. And then lastly, I would say too, if, you know, if you're interested in investing, because some people don't want to be active, right? They just want to be passive, create the passive income. We do the heavy lifting so that our investors can enjoy the passive income. And so we don't take any investment for granted. And we like to say, I like to say it's very important to me is that people who invest in hotels, there's a number of hotel developers out there, I know a lot of them, they're wonderful. You'll get good market returns, but, but we deliver good market returns as well. And so when you choose to invest with us, you are not only, you know, earning that passive income, you're also transforming an industry that needs more, you know, diversity and inclusion on the development side of the business. So when you're investing with us, you're actually paving a pathway for women to get that track record that's required to get institutional capital, private equity capital, larger dollar checks. It's required for us to get the friends and family, uh, equity, the high net worth individuals for basically proof of concept, uh, if you want to call it that, so that it becomes norm. So when we're in our spaces and we're saying, oh, I'm developing, they're looking at you, who do you work for? Right? Because they haven't seen it. I don't even, uh, some people say it's prejudice, misogyny. I don't, I think it's, they just haven't seen it. It's unconscious bias, like, well, I haven't seen it. Can she be successful? Because I don't know anybody that looks like her doing this. So now if I'm getting investments, my, you know, my mentees are getting investments, then just, we become norm and it's just like, oh yeah, you know, another, let me see your project, let me see who you are and make my decision.

Speaker A: Proof is in the pudding. You've been making it happen. So, just as a reminder, Tracy's contact information's in the summary. You can also reach Tracy l. Prigmore on LinkedIn or learn a little bit more. And, uh, reach out@shehasadeal.com yeah. Thank you, Tracy, for joining us today. Thank you, everyone, for checking us out. And definitely, uh, listen to more as we look at different asset classes, different ways of doing deals, marketing 101, and how to find those investors. So thank you all for joining today.

Speaker B: Thank you. Thank you for having me.