$1.6MM hotel into $3.1MM apartment

We just picked up this project here behind me, 33 units for $1.6 million. We funded it with almost $2 million because we have our renovation budget. As you can probably see from the background, this place needs some love. When I said we picked up a real estate project, I mean we picked up a project. However, it's right across the street from the lake. You can actually see the lake from here. I don't think I can from with my phone very well, but there you are. Developing part of town, fantastic area. The deal is going to be worth about $3.1, $3.2 million when we're done. Bought for $1.6. This is a fantastic opportunity. Anyone can do a deal like this. These are in just about every city. Turning hotels into multifamily— this is how the game's played.