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406: Inside Our FIRST Commercial Real Estate Deal (A 13-Unit Hotel!) w/Tony & Sara Robinson

406: Inside Our FIRST Commercial Real Estate Deal (A 13-Unit Hotel!) w/Tony & Sara Robinson

FromReal Estate Rookie


406: Inside Our FIRST Commercial Real Estate Deal (A 13-Unit Hotel!) w/Tony & Sara Robinson

FromReal Estate Rookie

ratings:
Length:
44 minutes
Released:
May 15, 2024
Format:
Podcast episode

Description

What goes into a commercial real estate deal? You’re about to find out! Fortunately, buying one of these properties isn’t quite the jump from residential real estate as you might expect it to be. Whether you’re a new investor or own several rentals, YOU, too, can buy a commercial property!

Welcome back to the Real Estate Rookie podcast! A few months back, we chatted with Tony about his new thirteen-unit hotel in Utah. Since then, the hotel has officially launched, and today, we’re joined by not only Tony but also his wife, Sara, to discuss the ins and outs of this enormous project. With months of planning, rehabbing, and problem-solving in the rearview, they break down the deal from start to finish—sharing some of their biggest successes, as well as some important lessons learned.

If you’re interested in commercial real estate investing, you don’t want to miss this episode! You’ll learn how to create a budget for a large renovation project, choose a model for paying contractors, get better reviews for your short-term rental, and form a seamless partnership with your spouse!

In This Episode We Cover
How the Robinsons planned, rehabbed, and launched a thirteen-unit hotel
Implementing self-check-in convenience on a commercial property
How to create a watertight budget for a large renovation project
Effective strategies for managing and paying your contractors
How to divvy up responsibilities when investing with your spouse
How to get MORE bookings (and keep your property occupied year-round!)
And So Much More!

(00:00) Intro
(02:43) Managing & Paying Contractors
(09:43) Numbers on the Hotel
(15:37) HUGE Lessons Learned
(18:49) Self-Check-In Challenges
(25:11) Building a Team & Getting Reviews
(28:41) Working with Your Spouse
(35:17) Connect with the Robinsons!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-406
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Released:
May 15, 2024
Format:
Podcast episode

Titles in the series (100)

Ready to build your real estate empire… but not sure where to begin?Think of us as your personal trainer.From detailed breakdowns of real-world deals… to one-on-one coaching sessions and a warm, welcoming community… hosts Ashley Kehr and Tony J Robinson bring on a wide range of guests to tackle the “newbie” questions you've wondered about but might be afraid to ask.Looking to 10X your real estate investing business this year? This show isn’t for you.Looking for your first, second, or third deal -- or envisioning a more modest portfolio? Step right up. Every Wednesday, we’ll arm you with the tips, tools, and roadmaps you'll need as you embark on your journey toward financial freedom.