Why Motel Hotel To Apartment Conversion Is Hot Real Estate
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- Опубликовано: 18 фев 2021
- An extremely short supply of multifamily real estate for sale has prompted investors to consider the motel hotel to apartment conversion transaction. If you own hotels or motels and are considering selling, please email me at beau@beaubeery.com.
In this video, we'll cover 5 reasons why motel & hotel to apartment conversions are a great idea and we'll review 10 things to look out for when considering this investment option.
Let's define the difference between a hotel and a motel. They differ in layout and construction. Hotels can contain hundreds of rooms and several floors; they generally have staircases, elevators, and internal corridors that lead to the rooms. Extended stay hotels are the most ideal conversion prospects due to larger floor plans (400+ SF) and larger kitchens.
Motels commonly have a one or two-floor layout and guests access their rooms directly from the parking lot and have open-air corridors and staircases. They range from 200-300 SF. Many motels are smaller, older, owner-operated assets in secondary and tertiary markets. The big hotel brands won't put their names on these, which is one reason why many motels struggle.
Time Stamps:
00:22 Define difference between hotel and motel
01:23 Reason 1 to convert from hotel to apartments
01:53 Reason 2 to convert from hotel to apartments
02:14 Reason 3 to convert from hotel to apartments
02:29 Reason 4 to convert from hotel to apartments
02:49 Reason 5 to convert from hotel to apartments
02:59 Item 1 to look out for when concerting from hotel motel to apartments
03:18 Item 2 to look out for when concerting from hotel motel to apartments
03:38 Item 3 to look out for when concerting from hotel motel to apartments
03:53 Item 4 to look out for when concerting from hotel motel to apartments
04:15 Item 5 to look out for when concerting from hotel motel to apartments
04:35 Item 6 to look out for when concerting from hotel motel to apartments
05:18 Item 7 to look out for when concerting from hotel motel to apartments
05:49 Item 8 to look out for when concerting from hotel motel to apartments
06:11 Item 9 to look out for when concerting from hotel motel to apartments
06:38 Item 10 to look out for when concerting from hotel motel to apartments
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Terrific video and tips as usual! I recently completed conversion/remodel of a lower end motel to a long term rental in a rough area of Volusia County. Great cashflow, but only because of good management, a reliable contractor (they exist!) and the HUD-VASH program. I'd like to do it again, but even class D prices are up.....
I love the hotel to multifamily conversion game! Reply below if you want to learn more.
What kind of loan to get for this kind of flipping? Can you rent out the units that had been renovated while doing others renovation?
BROOKLYN BAABE
Ask those arrogant owners to clean first then help economy. Because where money they slide in, with that good talks and with a help of bank!
What is your favorite method to find general contractors in a new market?
Nice we just did this with 55 units of our annex building to stabilize my cash flow (cough cough did on my youtube channel) great content bud
What about utilities? Inclusive in rent? Or individual meters like real apartments?
how do you figure costs to renovate. I have found 4 in my travels and I want to figure hard costs (staffing/handyman) and other misc potential costs.
What about extended stay motel to condo conversion?
Beau, The out takes you add lol 😂.
😆😆 love the bloopers! And perfect video! Have recently started to look at this!
bro amazing!!!!
Is it easy to change the zoning from hotel/motel to multiunit residential.