Chirag Patel

Chirag Patel Email and Phone Number

CEO of Empired Capital @ Empired Capital
Chirag Patel's Location
Euless, Texas, United States, United States
About Chirag Patel

My story began in Ontario, CA where I was born a year before my parents came to the states. For a bit, they worked a few odd end jobs until they had saved up enough money to buy their first drive thru C-store with about $5,000. They got it turned around and started making it profitable. Then sold it about 2 years later for about $40,000. Soon after they purchased their first little motel of 32 doors in a small town of Carthage, MS. (It is still small to this day). This is also where my journey begins as being in the hospitality business. We worked at the motel for about 8 years until. Then we bought our second hotel which was 158 doors spread out 4 buildings and 6 acres in Abilene, TX. Over next few years, they had bought and sold 5 properties which then lead us moving to Weatherford, TX. At this point, this is where my interest in hospitality operations and finance spiked up. I learned about the world of CRE lending and helped out family member secure financing for hotels that we are acquiring over the next few years. During this time I went to college, then graduated from University of Texas at Arlington in Finance. I had worked for a few lenders over the years to gain knowledge and experience along with oversight of operations of the hotels. I had also made some investments in other types of real estate such as single family homes, shopping centers and multi-family. I have purchased and sold over 40 single family homes. On the multi-family side, I have gone through deals with 500 doors spanning across 5 properties. Now, I am pursuing the path hospitality and mulit -family investments. I have transacted over 8 ground up new development hotels and 7 value add / repositioning of hotels. Basically, I have done over $100 million in deals.

Chirag Patel's Current Company Details
Empired Capital

Empired Capital

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CEO of Empired Capital
Chirag Patel Work Experience Details
  • Empired Capital
    Chief Executive Officer
    Empired Capital Jul 2022 - Present
    Fort Worth, Texas, Us
  • Empired Capital
    Chief Executive Officer
    Empired Capital May 2021 - Present
    Fort Worth, Texas, Us
     Review the OM from the broker and research and assess several reports such as CoStar, Yardi, along with property capex indicators to properly analyze as well as underwrite deals. Manage the underwriting process and recommend acquisition targets upon extensive research on properties, comps, submarkets, demographics, physical characteristics, rent and sales, and other pertinent information.  Coordinate with the lender in identifying optimal debt strategies while negotiating debt terms and documents. Assess financing options and operating metrics; organize and prepare proformas through financial models to determine valuations. Play an integral role as the focal point, accountable for streamlining the entire process upon sourcing deals as well as closing and executing the proposed business plan. Evaluate the gathered due diligence materials and coordinate third party reports while acting as the focal point for the due diligence process, where responsibilities also include verifying property details, market analyses, title/survey, and rent comps, as well as completing property inspections, unit walks, lease file audits, and maintenance audits. Examine capex budgets, vendors, contractors, and suppliers who will be involved in the process.
  • Waterchase Hotel Group
    President
    Waterchase Hotel Group Oct 2019 - Present
     Conduct an in-depth marketing analysis for new portfolios and individual acquisition opportunities. Leverage expertise in working on the underwriting, due diligence, as well as the execution of hotel acquisitions to successful completion; present findings and results to the investment committee and partners to make them informed. Work alongside division leaders from operations, asset management, and accounting to support the transition of new hotels and maintain relationships with existing as well as prospective key institutional partners. Source all equity and debt to secure the successful completion of projects. Oversee the project development upon handling schedules and budgets; provide oversight and direction regarding the management of design, approvals, operations, finance or accounting, and compliance report following the project business plan. Collaborate with analysts in supporting efforts of sourcing equity and debt while delivering due diligence for potential acquisitions.
  • Quality Inn & Suites, Willow Park,Tx
    General Manager
    Quality Inn & Suites, Willow Park,Tx Jan 2018 - Jul 2022
     Prepare a plan consisting of annual capital, cash flow, sales, and marketing, which pave the way to accurately forecast budgets. Analyze the company’s financial status to create a plan focusing on driving revenue or profit and maximizing investment return. Expand the market share by utilizing various distribution channels and technology platforms. Cultivate a safe and secured environment for guests, colleagues, and hotel assets; act as the public relations representative, liable for promoting the hotel brand and services across the local community. Foster collaboration and engagement of team members in community organizations, activities, and businesses. Ensure that the formulated and established action plans are environmentally conscious by reducing carbon footprints in the hotel.
  • Blue Sky Mortgage Loans
    President & Ceo
    Blue Sky Mortgage Loans Oct 2013 - Jan 2022
    North Richland Hills, Texas, Us
  • Dynamic Helicopters
    Helicopter Pilot
    Dynamic Helicopters Mar 2009 - Nov 2013
    Providing helicopter tours throughout Dallas/Fort Worth landmarks such as Cowboys stadium, Texas Motor Speedway, Lake Ray Hubbard and more. Also provide services such as aerial photography and video, real estate viewings and surveying, custom transport services
  • Nationstar Mortgage
    Senior Mortgage Professional
    Nationstar Mortgage Jan 2011 - Oct 2013
    - Review financials, appraisals and provide thorough analysis; properly strategizing and structuring deals to make them feasible for all parties- Optimized profitability and growth and ensured comprehensive risk management and regulatory compliance- Thorough pipeline management, evaluating outstanding conditions, ensuring on-time viable closing dates- Commercial real estate portfolio analysis and packaging- Extensive expertise directing and spearheading strategic planning and problem solving in diverse settings
  • Town Square Financial
    Senior Financial Consultant
    Town Square Financial Mar 2008 - Jan 2011
    - Co-launched and managed completely new business platform from inception resulting from $11 million per month in volume to over $60 million per month within 8 months. - Boarded 7 new branches, strengthening secondary pricing- Recommended and presented credit proposals and amendments to branch’s credit division
  • Lmi Funding, Inc
    Senior Financial Analyst
    Lmi Funding, Inc Jan 2007 - Mar 2008

Chirag Patel Education Details

  • The University Of Texas At Arlington - College Of Business
    The University Of Texas At Arlington - College Of Business
    Banking And Finance
  • Sky Helictopers
    Sky Helictopers
    Aviation

Frequently Asked Questions about Chirag Patel

What company does Chirag Patel work for?

Chirag Patel works for Empired Capital

What is Chirag Patel's role at the current company?

Chirag Patel's current role is CEO of Empired Capital.

What schools did Chirag Patel attend?

Chirag Patel attended The University Of Texas At Arlington - College Of Business, Sky Helictopers.

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