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121. From Check-Ins to Lease Agreements: The Hotel-to-Apartment Conversion with Scott Fouser
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ABOUT SCOTT FOUSER
Since September 2015, Scott has served as Chief Revenue Officer for Househappy, a leading-edge home service and technology platform. His role in the company came as a result of Househappy’s acquisition of GruntWorks, which he founded in 2011.
Scott’s other ventures have included RealNet, LeaseEasy, Tax Refund Centers, and Pacific West Properties. RealNet was one of the first real estate investment companies of its kind and made Inc. Magazine’s list of 500 fastest-growing private companies twice.
Scott graduated from Pepperdine University with a Bachelor of Science in Business Administration and Marketing. He has served as the Membership Chair for the Oregon Evergreen Chapter of the Young President’s Organization (YPO) and on the Board for the Portland Rose Festival Foundation. He has also served three times as a judge for the New Venture Championship through the University of Oregon and as a judge for Pepperdine University’s Fast Pitch competition.
THIS TOPIC IN A NUTSHELL:
Scott’s career background
His real estate journey
How Househappy came about
Syndication and 1031 exchange Ventures
What attracted him to the Syndication space?
Deal structure
The most valuable letter of the acronym of someone starting in real estate
About the Hotel Conversion Deal
Location and acquisition process
Conversion of the hotel to apartments & climate-controlled storage facility
Fundamentals and underwriting the deal
The real opportunity of this deal
How long does the conversion process take?
Challenges and opportunities encountered
Storage facility aspect
Asset management of actual units when completed
Target average annual returns
Housing and Demographics
Timelines and phases of this project
Connect with Scott
KEY QUOTE:
“The Deal is everything. Educating yourself and making sure you know what a good opportunity is. Finding it and having resources to find it whether it's your own efforts or people bringing them to you, that's where the biggest opportunity is.”
ABOUT THE WESTSIDE INVESTORS NETWORK
The Westside Investors Network is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.
The Westside Investors Network strives to bring knowledge and education to real estate professional that is seeking to gain more freedom in their life. The host AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management, and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndication.com.
#RealEstateInvesting #Acquisition #Syndication #ApartmentInvesting #ApartmentConversion #1031Exchange #LongTermLease #HotelConversion #MediumTermRentals #SelfStorage #ClimateControlled #StorageFacility #Investment Opportunity #IncomeStreams #Syndicator #Underwriting #AssetManagement #HouseHappy #PropertyManagement #Entrepreneur #Multifamily #BuildingWealth #CashFlow #PassiveWealth #FinancialFreedom #NewEpisode #podcasting #JointheWINpod #WestsideInvestorsNetwork
CONNECT WITH SCOTT FOUSER:
LinkedIn: https://www.linkedin.com/in/scott-fouser-4529895
Website: https://househappy.com
CONNECT WITH US
For more information about investing with AJ and Chris:
· Uptown Syndication | https://www.uptownsyndication.com/
· LinkedIn | https://www.linkedin.com/company/71673294/admin/
For information on Portland Property Management:
· Uptown Properties | http://www.uptownpm.com
· Youtube | @UptownProperties
Westside Investors Network
· Website | https://www.westsideinvestorsnetwork.com/
· Twitter | https://twitter.com/WIN_pdx
· Instagram | @westsideinvestorsnetwork
· LinkedIn | https://www.linkedin.com/groups/13949165/
· Facebook | @WestsideInvestorsNetwork
· Youtube | @WestsideInvestorsNetwork
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