Hotel investments, big BRRRRs, and some mind-boggling cash flow are coming up on this Deal Deep Dive with our very own Rob Abasolo. For almost the entirety of Rob’s short-term rental investing career, he’s preached the good gospel about how small, mom-and-pop-owned vacation rentals are the way of the future. The secluded single-family rental, log cabin, or treehouse were some of Rob’s most impressive and profitable investments. But now, he’s taken a step in a whole different direction.
Rob doubled his rental property portfolio almost overnight, going from fifteen units to thirty-five by purchasing a twenty-unit hotel/motel mix in beautiful Upstate New York. Without much experience running anything on that scale, Rob and his partners went to work trying to figure out how to turn this mess of a motel into a profitable, high-value vacation destination. He faced some serious hurdles, from canceling on guests to fixing a literal hole in the middle of the property, but found a way to make it work.
Once the renovations are complete, Rob will walk away with an almost unbelievable amount of yearly cash flow, a seven-figure increase in equity, and a scalable system that will let him do these types of deals more often than he thought. Want to hear the nitty gritty so you can tackle something as lucrative as this? Sit back, relax, press play, and prepare for your next big property purchase!
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Episode 660
Show notes at: 00:00 Intro
02:46 Quick Tip
03:34 Rob's Short-Term Rental Journey
10:43 Seeya, Single-Family Rentals!
18:39 Hotel Hurdles
31:32 Renovations, Refis, and Raising Money
41:41 Lessons Learned and Seller Squabbles
55:38 The Final Numbers
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Recommended Reading >> bit.ly/32kRpzw
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