Real Estate Investing for Cash Flow with Kevin Bupp #812 The Hotel Death Spiral: David Peters' Secrets on Hotel to Residential Conversion
David Peters is the principle and co-founder of Magnetic Invest, an investment firm that currently specializes in hotel to residential conversions throughout the US. Prior to the hotel to residential focus, David spent more than a decade running anumber of multifamily syndicates and prior to that was the owner and general contractor at LCS residential.
Connect with David: https://www.linkedin.com/in/david-peters-8334554 , david@magneticinvest.com
Quote: "If you don't have annual leases on 90% of your units, you can't get that 'fanny freddy' financing."
Highlights:
8:00 - Hotel's Death Spiral
11:14 - The "Sweet Spot" Hotel Property
15:10 - The Rise & Fall of Extended Stay
18:51 - David's Process for Conversion / The Appeal
21:38 - Gauging Local Support
23:47 - How to Finance
28:00 - How David Sets Up Management
30:10 - Leases / Primary Clients
38:00 - Rental Rates
Recommended Resources:
- Accredited Investors, you’re invited to Join the Cashflow Investor Club to learn how you can partner with Kevin Bupp on current and upcoming opportunities to create passive cash flow and build wealth. Join the Club!
- If you’re a high net worth investor with capital to deploy in the next 12 months and you want to build passive income and wealth with a trusted partner, go to InvestWithKB.com for opportunities to invest in real estate projects alongside Kevin and his team.
- Looking for the ultimate guide to passive investing? Grab a copy of my latest book, The Cash Flow Investor at KevinBupp.com.
- Tap into a wealth of free information on Commercial Real Estate Investing by listening to past podcast episodes at KevinBupp.com/Podcast.
Learn more about Kevin’s investment company and opportunities for Lifetime Cashflow at sunrisecapitalinvestors.com.