Almost anything close to "Magnolia world" is over priced (and everything else in and around Waco for that matter) with hotels popping up left and right.

Also, think about possible AirBnB opportunities in places like Star, Middleton, etc...as there are no hotels.

Full luxury renovation and conversion to a boutique hotel; all 7 units operate as STR's.

The property is a vacant hotel along the eastern sea shore.

My brother's Sedona boutique hotel had record spending, but booking rate was lower.

My response was:"When hiring, look for those who have worked in hotels / motels before.

Count up the number of extended stay hotels in the area.

With that being said, the multifamily scene here has not gotten my attention, mainly due to low returns, hence little to no excitement or upside to move forward now.As for why I am here and as the title says, I am exploring motel/hotel conversions to multifamily/micro units.

Hi BP Community, Would love to discuss the hotel to multi conversion play with fellow investors who have considered or have completed a similar type of project. 

Purchase price: $2,250,000 Cash invested: $55,000This is the second boutique hotel on the Country Club Plaza.