Making Millions by Converting Hotels?
12 Dec 2023 · 0 min

0:17
A hotel bought for $1 million gets converted into 24 apartments valued at $100,000 each. With $1.4 million budgeted for renovations, the deal could net roughly $1 million in profit.

A hotel bought for $1 million gets converted into 24 apartments valued at $100,000 each. With $1.4 million budgeted for renovations, the deal could net roughly $1 million in profit.
So we're converting our hotel into multifamily. Cody, what do the numbers look like on that deal? Well, we bought it for $1 million. It's 24 apartments, and as apartments, they're worth $100,000 a door, meaning we've got $1.4 million worth of room and budget to put money into the property and make a profit. So this is a deal that can make us $1 million? Absolutely.

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