JF2693: The Secret Strategy for Turning Motels into Profitable Long-Term Housing with Andrew LeBaron

<p><span style="font-weight: 400;">Andrew LeBaron decided he needed to niche down his real estate strategy. That’s when he had the idea to convert motels into long-term stays. Varying slightly from an apartment, Andrew’s motel conversion strategy allows him to cut certain costs and hurdles that typically accompany multifamily properties. In this episode, Andrew walks through the benefits of long-term stays over apartments, the budget differences between motels and multifamily, and how he’s created his conversion strategy.</span></p> <p><span style="font-weight: 400;">Andrew LeBaron | Real Estate Background</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Syndicator, Apartment Motel Owner. His business model is reviewing small to midsize motel/hotel assets, underwriting the deal, purchasing, converting, and refinancing.</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Portfolio: GP on motel assets: 42-unit, 13-unit, 22-unit, and an 18-unit.</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Upcoming deal for a 129-unit Motel that he will convert to apartments.</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Based in: Phoenix, AZ</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Say hi to him at:</span> <a href= "http://buymoretime.com"><span style= "font-weight: 400;">buymoretime.com</span></a> <span style= "font-weight: 400;">| Facebook and Twitter: @andrewinvestor</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Best Ever Book:</span> <a href= "https://amzn.to/3IaQy6x"><span style="font-weight: 400;">Raising Capital for Real Estate by Hunter Thompson</span></a></li> </ul> <p><strong>Click here to know more about our sponsors:</strong> <a href= "https://nam10.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.themichaelblank.com%2Fjoe&data=04%7C01%7CLadi%40joefairle