MB415: Solving for Affordable Housing with Hotel Conversions — With Alex Cartwright

Good multifamily deals have been hard to find in recent years. And Alex Cartwright was struggling to compete with more experienced investors.He was looking for a niche that would give him a unique advantage. That’s when he met a broker at a conference who suggested converting a hotel into apartments.Alex thought it sounded like a pain in the you-know-what. But when he looked at the numbers, Alex realized that the problems were worth solving.Today, Alex is Founder and Managing Partner at Vilicus Capital, a real estate investing firm that specializes in converting hotels into affordable multifamily housing. Alex is also Associate Professor of Economics at Ferris State University, where he teaches classes on managerial economics, economic growth and international business.On this episode of Financial Freedom with Real Estate Investing, Alex joins us to explain what inspired his interest in real estate as a tenured professor making six figures.Alex shares his twist on the traditional multifamily strategy, describing how he finds hotels that can be purchased cheaply in growing markets and converts them into workforce housing.Listen in for insight into Alex’s first deal as lead GP of a hotel conversion and learn how to find your niche as an investor to achieve financial freedom with real estate!For full episode show notes visit: https://themichaelblank.com/podcasts/session415/