BiggerPockets Real Estate Podcast - The 20-Unit Hotel BRRRR That Makes $750K Per Year

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! ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media ~~~~ Our Interview with Heather Blankenship on RV Park Investing: https://www.biggerpockets.com/blog/real-estate-650?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Are There Opportunities in Hotel Investing in 2022? https://www.biggerpockets.com/blog/hotel-investing-2021?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Struggling to Find a Stellar Contractor? Try These 9 Pro Tips: https://www.biggerpockets.com/blog/finding-contractor?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ The Definitive Guide to Using Seller Financing to Buy Real Estate: https://www.biggerpockets.com/blog/2013-11-05-seller-financing?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Watch Rob’s Video on This Property: https://youtu.be/zYu6DaWeP-8 ~~~~ Connect with Rob (Robuilt) on YouTube, Instagram, TikTok, and Twitter: Youtube: https://www.youtube.com/c/Robuilt Instagram: https://www.instagram.com/robuilt/ TikTok: https://www.tiktok.com/@robuilto Twitter: https://mobile.twitter.com/robuiltchannel ~~~~ Connect with David and Rob on BiggerPockets: David: https://www.biggerpockets.com/users/davidgreene24?utm_source=youtube&utm_medium=description&utm_campaign=none Rob: https://www.biggerpockets.com/users/robuilt?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Follow David on Instagram: @davidgreene24 or https://www.instagram.com/davidgreene24/ Episode 660 Show notes at: https://www.biggerpockets.com/blog/real-estate-660?utm_source=youtube&utm_medium=description&utm_campaign=none 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 #biggerpockets #realestatepodcast #episode660