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re: How did Indians corner the market on quick shops and many hotels?
Posted on 1/22/18 at 2:12 pm to weagle99
Posted on 1/22/18 at 2:12 pm to weagle99
A former customer of mine is a owns all or part of 30+ hotels. Yes, his last name is Patel. He explained to be a little like Indian crowd sourcing. When he was ready to come to the US, he was given a 1/8 ownership(for a term of 5 years) and a hotel room at a hotel in North Carolina in exchange for working at the property for 5 years. As that term was coming to an end, he was given half ownership in another hotel in Louisiana in exchange for permitting 4 other folks to come over on the same deal he came on. After a little over a decade, he was able to borrow from the group to buy his own hotel.
The "program" is part of the purchasing process also - advising on where to put a hotel, negotiating terms with the franchise, etc. He pays a higher interest rate to borrow than a bank, but the monies go back to the program which he can reuse, but it also helps other proprietors and assists new folks to come over.
The "program" is part of the purchasing process also - advising on where to put a hotel, negotiating terms with the franchise, etc. He pays a higher interest rate to borrow than a bank, but the monies go back to the program which he can reuse, but it also helps other proprietors and assists new folks to come over.
Posted on 1/22/18 at 2:23 pm to go_tigres
You have to be willing to put in work. For most even a 1$ is profit no matter how much work you put in.
The profit accumulates and they don't give in. You should commit to cheap life and work for a while
The profit accumulates and they don't give in. You should commit to cheap life and work for a while
Posted on 1/22/18 at 2:51 pm to weagle99
It is interesting how it can vary so much from region to region. In Memphis it seems the majority of stores or owned by Ethiopians. I Nashville it is Coptic Christian Egyptians.
Posted on 1/22/18 at 3:03 pm to TSLG
I won't take away from their work ethic. As pointed out here, they bust their arse. Tax breaks 100% are why they own the stores though. They'll stay for X amount of time, then move back to India. There brother will replace him for X amount of time. They'll do this over and over, receiving tax breaks the entire time. That's straight from the mouth of a few that have done it themselves.
Posted on 1/22/18 at 3:03 pm to mouton
Most of the Patels live on site and use family members as staff.
I was staying in a Hindu Hilton in Augusta, GA several years ago right before Masters. They were prepping the pool and it was about half full of winter rainwater. Patel was too cheap to rent a pump and made his nephew bail it out with a 5-gallon bucket.
It took that poor bastard 3 or 4 days to get it done.
I was staying in a Hindu Hilton in Augusta, GA several years ago right before Masters. They were prepping the pool and it was about half full of winter rainwater. Patel was too cheap to rent a pump and made his nephew bail it out with a 5-gallon bucket.
It took that poor bastard 3 or 4 days to get it done.
Posted on 1/22/18 at 3:34 pm to JoePepitone
Funny most of you say they make very little money, the Patel’s I know that are in hotels are doing quite well and definitely do not live in any of their hotels.
Posted on 1/22/18 at 4:18 pm to JoePepitone
quote:
Patel was too cheap to rent a pump and made his nephew bail it out with a 5-gallon bucket.
That is hilariously awesome
Posted on 1/22/18 at 5:05 pm to CelticDog
I have stayed in at least 2 motels owned by "Nick Patels".
I like Indians.
I like Indians.
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