S01E02: Going From Working In Hospitality To Multifamily Investing & Hotel Conversions With Charlie Rushton

Charlie Ruhston is a former professional Chef with over 30 years of experience in operations, repositionings, renovations and management of multi units in Hotels, Casinos and Independent Restaurant Groups.

In 2007 Charlie began investing in SFR's, rehabbed and sold. Now he is focused on leveraging the economies of scale in multifamily communities around the DFW and other TX MSA's through syndication and JV partnerships.In our second episode, we go over how the current macro trends are affecting the hotel conversion space, the importance of building a solid team and how to skip the small fish and go straight for the large institutional investors to raise funds for your acquisitions. Reach out to Charlie RushtonDirect number: (805) 403-7080charlie@saberequity.com https://www.linkedin.com/in/charlierushton Key points: 01:25 Charlie's outlook on the current market02:43 Going forward, which deals will be a struggle, which will offer new opportunities?03:42 Are we headed for actual distress or just lower than expected numbers?04:10 The effect of the larger markets on the hotel to multifamily conversion space05:29 Charlie's journey from the hospitality sector to RE investor08:30 Breaking into the multifamily investing space for the first time11:01 The importance of finding the right business partner.The importance of building a team 14:34 Why Charlie decided to go straight to bigger sources of capital from the get-go17:37 How to approach gatekeepers and large, institutional investors20:06 How to make a pitch to large capital providers23:00 Developing the relationships with your capital sources even further24:01 Transitioning into the hotel conversions space27:26 Hotel conversions and zoning issues32:06 What does Charlie look for in a good conversion deal34:51 What type of room amenities are added in, in a typical hotel conversion?36:32 The opportunity for adding co-working spaces38:46 Closing thoughts & how to reach out to Charlie40:15 How to get in touch with Charlie