Hotel, Motel, Holliday Inn

[Corey Rissler]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $350,000
Cash invested: $174,000

21 unit hotel. Converted to Low income studio apartments. BRRR Strategy for hotel / apartment style buildings

[Corey Rissler]

@Kevin Van Witt Right on! First of course the structure of the deal you are doing is the most important. I managed to own mine for 75K after my rehab and cash out refi. Also you will need to walk a contractor through if you are trying to remove walls or do they have doors to other units? Do all the units have kitchens or kitchenettes in them already and is it possible for you to get the city to separate the utilities for tenants or will you be including that in rent and what could you get for rent. Also is there a place to put on site laundry or room in the units to put laundry hook ups. Check in to all of that