JF2693: The Secret Strategy for Turning Motels into Profitable Long-Term Housing with Andrew LeBaron

The Best Ever CRE Show

Best Ever CRE

Investing, Entrepreneurship, Business

4.7 • 996 Ratings

🗓️ 16 January 2022

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Andrew LeBaron decided he needed to niche down his real estate strategy. That’s when he had the idea to convert motels into long-term stays. Varying slightly from an apartment, Andrew’s motel conversion strategy allows him to cut certain costs and hurdles that typically accompany multifamily properties. In this episode, Andrew walks through the benefits of long-term stays over apartments, the budget differences between motels and multifamily, and how he’s created his conversion strategy. Andrew LeBaron | Real Estate Background Syndicator, Apartment Motel Owner. His business model is reviewing small to midsize motel/hotel assets, underwriting the deal, purchasing, converting, and refinancing. Portfolio: GP on motel assets: 42-unit, 13-unit, 22-unit, and an 18-unit. Upcoming deal for a 129-unit Motel that he will convert to apartments. Based in: Phoenix, AZ Say hi to him at: buymoretime.com | Facebook and Twitter: @andrewinvestor Best Ever Book: Raising Capital for Real Estate by Hunter Thompson Click here to know more about our sponsors: Deal Maker Mentoring | PassiveInvesting.com | FollowUp Boss Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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1:05.0	Make excellent relationships with sellers, with private money partners, and you'll be just fine.
1:13.8	Quick disclaimer, the views and opinions expressed in this podcast are provided for
1:17.8	informational purposes only and should not be construed as an offer to buy or sell
1:22.3	any securities or to make or
1:24.4	consider any investment or course of action. For more information go to best ever
1:29.6	show.com. Best ever listeners I'm excited to introduce you to our newest hosts that we're bringing on to the team.
1:35.9	His name is Slocum Reed, along with myself and Osh.
1:40.3	Slocum will be providing value to every interview he does.
1:43.5	I've known Slocum for years and I've watched his portfolio continue to grow.
1:47.4	He currently owns and operate 65 units including converting three units into an office building.
1:53.4	So he's an owner operator.
	...

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