Welcome to another exciting multifamily investing podcast where the Multifamily Attorney, Charles Dobens, together with the Hotel-to-Apartment Expert, David Peters, share a unique perspective on the exciting world of converting hotels to apartments.

Join Charles and David as they discuss the unconventional approach and the essential insights you need, whether you're an experienced investor or a newcomer. Stay tuned as they share the top 10 topics on hotel-to-apartment conversions in 2024. In this episode, they focus on preferred returns, financial benchmarks, and the unique opportunities that they identify in distressed properties. This is going to be an informative journey, where they are not just doing well but doing good by creating a new market in the real estate landscape.

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The Top Ten Things to Know About Hotel to Apartment (H2A) Conversions in 2024

This episode revolves around hotel-to-apartment (H2A) conversions, particularly focusing on strategies, challenges, and the overall investment model. Charles Dobens and David Peters emphasize the need for a comprehensive approach to handle zoning, construction permits, and zoning law changes. They discuss different conversion strategies, including the importance of minimizing negative cash flow during the conversion process.

They highlight the significance of common area spaces like lobbies, restaurants, and bathrooms, suggesting various ways to repurpose them for community use. The speakers emphasize the need for a clear understanding of the investment, and they differentiate their approach from traditional syndication models.

The exit strategy is discussed, emphasizing the goal of stabilizing, refinancing, and recycling properties. The ultimate plan is to build a brand, gather properties into portfolios, and sell them to institutional buyers for geographic diversification. Charles and David also mention the potential for individual property exits and early opportunities.

They both stress that their investment model involves long-term growth without a preferred return, focusing on building personal wealth through 1031 exchanges. They explain the need for SEC compliance even among friends and highlight their cohort model, encouraging cohort members to grow within the system.

Charles and David share information about an upcoming deal in Louisville and express their plans for opening up opportunities to cohort members. They aim to continue growing their model, setting a goal to convert 100,000 hotel units over the next 10 years. They end by providing contact information for those interested in learning more about their investment opportunities.

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