JF3605: Converting Distressed Hotels to Workforce Housing, Navigating Zoning Challenges, and Managing Unique Renovations ft. Alex Cartwright

The Best Ever CRE Show

Best Ever CRE

Realestatepodcast, Entrepreneurship, Business, Realestate, Investing, Realestateinvesting, Realestateinvestingpodcast

4.8 • 983 Ratings

🗓️ 18 July 2024

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Alex Cartwright, principal of Hotel Shift, specializes in hotel-to-apartment conversions. He discusses the benefits, such as lower purchase prices, zoning challenges, and targeting affordable housing markets.

Alex Cartwright | Real Estate Background

HotelSHIFT
Portfolio
- Multifamily Syndication & Hotel Conversion Properties
  - Approximately 24 multifamily units personally owned
  - 120-unit hotel-to-apartment conversion project
Based in: Grand Rapids, Michigan
Say hi to him at:
- www.HotelSHIFT.capital
Best Ever Book: Range by David Epstein

Sponsors:

Viking Capital

Apartments.com

Transcript

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0:00.0	Quick disclaimer the views and opinions expressed in this podcast are provided for
0:04.2	informational purposes only and should not be construed as an offer to buy or
0:08.3	sell any securities or to make or consider any investment or course of action.
0:13.6	For more information go to best ever show.com.
0:17.0	When you're just starting out, you need to have some kind of niche around what you're doing so that there's some kind of
0:26.3	barrier to entry why folks can't copy your strategy. That could be as simple as
0:30.7	you're the expert in a specific location or in catering to a specific tenant.
0:36.4	You've got to have some kind of edge to be able to unlock returns that other people can't
0:41.6	unlock. Welcome to the Best Ever Show,
0:44.0	the world's longest running daily commercial real estate
0:47.0	podcast.
0:48.0	Our hosts interview commercial real estate experts
0:51.0	every day to get you the best advice ever with none of the
0:54.2	fluffy stuff. Hello best ever listeners welcome to the best real estate investing
0:59.1	advice ever show I'm Ash Patel joined by my co-host Amanda Cruz.
1:04.3	Hey y'all and we're with today's guest Alex Cartwright.
1:08.3	Alex is joining us from Grand Rapids, Michigan.
1:11.0	He is the principal of Hotel Shift.
1:14.2	They buy distressed hotels, convert them to workforce housing.
1:18.3	Alex's portfolio consists of roughly two dozen multifamily units he owns personally and a 120 unit hotel to
1:26.0	apartment conversion project.
1:27.6	Alex, thank you for joining us and how are you today?
	...

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