Can converting hotels into apartments solve the affordable housing crisis while providing a lucrative investment opportunity?

In this episode, host Angel Williams sits down with Alex Cartwright, an Associate Professor of Economics at Ferris State University and a real estate investor focused on hotel-to-apartment conversions. Alex shares his journey from traditional multifamily syndication to discovering the untapped potential of converting struggling hotels into affordable housing. He discusses the challenges and advantages of this unique investment strategy, emphasizing the growing demand for workforce housing and the limited supply of old hotels ripe for conversion. Alex also delves into the financial aspects of hotel conversions, explaining how the shift from hotel to multifamily cap rates can lead to signific ...