Motel to Apartment Conversion Deal
Вставка
- Опубліковано 12 лип 2024
- Discover how to convert a motel into an apartment building, an extremely effective strategy for creating affordable housing with very strong returns. And you'll also meet my Protege, Jordan, and learn how he put this fantastic deal together, turning a 16 room motel rooms into 16 very profitable apartment units as well as acquiring 9 additional multi-family units and a separate 0.5 acre commercial lot.
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0:00 Introduction
1:32 3 Powerful Principles of Commercial Real Estate Investing
3:28 Meet My Protege Jordan
6:23 Motel to Apartment Conversion
7:57 Meet the Seller
10:46 Financing the Deal
14:52 Commercially Zoned Half Acre Lot
18:06 Built in Equity/After Repair Value
19:21 Mentorship Matters
20:07 Jordan's Future Plans
22:10 Structuring a Win-Win Commercial Deal
![$445,000 Profit 6 Unit Apartment Deal [Case Study]](http://i.ytimg.com/vi/G-YCDm67W6M/mqdefault.jpg)
![$445,000 Profit 6 Unit Apartment Deal [Case Study]](/img/tr.png)
Get step by step help with your own motel to apartment conversion deal by applying to my Protege Program here: www.commercialpropertyadvisors.com/protege-program
I'm on my 5th motel conversion. Never taken out a loan on any of them. Fixing the unaffordable housing crisis one deal at a time! Great video.
Way to Jordan!
Love the Zig Ziglar quote and your approach to the deal, serve others and you'll be blessed 🙌
Congratulations Jordan. Great job. Peter has the formula for success in CRE
yes!
The creative inspiration in this story has had a tremendous impact on my decision to join the Protégé program. Real people doing positive things with dramatic effect. I’m very grateful to be part of it.
Hello Peter, a friend of mine introduced me to your videos yesterday and I must admit that you're a phenomenal coach! And, yes, Jordan closed an amazing deal on that property and it was an all-round win-win for the Seller, her two kids, Jorsan and his family!
Congrats Jordan ! Peter is an amazing mentor
Great Job, Peter. Wishing you great success, to Jordan. I can not wait for my adventure to start
Dear Mr. Harris......Boston Bldg owner here now in FL......I greatly admire all you have done and are doing. On the conversion small town motel into apartments.......I must register my disapproval as this would never fly either in Massachusetts or Florida as it is falls into the category of bad areas that defy upgradeing or even maintenance as strong rental. This type of bldg is obsolete and screams low and lower class...........destined for prostitution, drug dealing, vacancies, drunks, running out on rent, etc..........
I love your enthusiasm...and great ideas..Thank you!
Great video. Curious to hear how Jordan makes out with zoning change from motel to apartments. I am working on similar project now in MA. I have paid a lot of upfront money to engineer, architect (for plans and code review) and also my attorney. Town departments are all on board and say great things.... but the ZBA makes ultimate decision. We shall see. Good luck Jordan!
Congratulations Jordan & Janette! ❤🎉
Excellent video! Great deal! Great lesson!
Congrats Jordan on a great win win creative deal. Awesome!
I really like this idea to take motels and convert them into apartments. This addresses the issues of the lack of rental housing, and if someone wants to go in that direction, it solves the problem of the lack of affordable housing for hard-working Americans.
In east coast central Florida (where I’m located), developers turned the older motels into apartments and offices. What’s even cooler is some of these motels were oceanfront, so the developers got a nice ROI, AND they were a more affordable option than the luxury units that were there now.
Good business with high ethics. Congrats!
Great 👍 content as always 👌
This is a motivator!!!!! Thank you Mr..Harris. I will be a student within the next 2 weeks. Q H in BHM, AL.
Peter you are wonderful. Thank you.
I love this great video thank you for sharing
Great story, great project. Congrats.
Your content is awesome Peter❤️
Soon as I get a few things in order with my finances in order I will be giving you a call. ☎️
Congratulations Jordan! Way to go!!!
I was subscribed to this channel and had no idea you were going to put out new content. I'm not going to re subscribe as I still get your email notifications and content. I'm looking into a deal just like this as we speak. This is wonderful content.
Good job Jordan!!!
👍good job Jordan.
🎉Great Job Jordan❤
Congratulations Jordan!
Nice job Jordan!
I can't wait to find great deals using Peter Harris methods
Grat Job Jordan.
Congrats!!!!
Congrats!
Great 👍
High five Jordan!!
High Five Jordan !!!
Hi Peter and Jordan, this sounds like a win-win for both buyer and seller! The back lot would be perfect for tiny homes. QUESTION: What city and state was this in? Just curious as some geographic areas are more affordable than others.
Amazing acquisition! So, how did Jordan find this property? A grocery / convenince store would bring Jordan more income as the tenants would use.
I need to find your videos on acquiring CRE land.
Great content!!!
What is the conversion cost?
Congratulations Jordan
High 5
Congratulations
These I like
🙌
Amen 🙏🙏🙌
I will Thanks 😊 🙏
Peter, I want to ask you about commercial real estate wholesaling. I have your for dummies book and want to do commercial wholesaling, in the book there is no chapter dedicated to commercialwholesale, do you have a full comprehensive course on this alone? If so, where will I find it?
Here you go! Wholesaling Commercial Real Estate for Beginners: ua-cam.com/video/9ZraWnoU_ik/v-deo.html
help me repeat this exercise!
Peter, how can I get in touch with Jordan? Thank you
Do you have a hand holding type mentorship? I already spent 10k on a mentorship that's just over crowded and gives no one on one.
I've spent over 2 years learning and only consuming content like you and Phil Pustejovsky, Coach Carson etc.
I never feel confident in moving forward and I need someone to tell me what to do step by step to make sure I don't mess up. I over think everything and just need clear direction.
Apply to my Protege Program here: www.commercialpropertyadvisors.com/protege-program
✋🏾high five
@18:46 He says price was $1.35million and that the crazy part was if you do the math it is only $48k a door. That math does sound crazy since it comes out to over $84k a door. What math is he doing? What am I missing?
Good observation. Jordan meant $84,000 a door. A dyslexic moment for him.
Hello, I wanted to complement on your great videos. I also wanted to ask if you can reffer me good commercial lender/banks. Thank you so much for your videos.
Sorry but It looks to me he ripped her off, the opposite that's been claimed here. :0
Congratulations Jordan!