Inside Our FIRST Commercial Real Estate Deal (13-Unit Hotel)

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!

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Real Estate Rookie 367 - How to Buy a Hotel: Breaking Down Tony’s FIRST Commercial Real Estate Deal:
https://www.biggerpockets.com/blog/ro...
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Real Estate Rookie 265 - How to Get Into Commercial Real Estate Investing (For Beginners):
https://www.biggerpockets.com/blog/ro...
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BiggerPockets Real Estate 863 - Commercial Real Estate: The “Buy Box” for Buying BIG Properties:
https://www.biggerpockets.com/blog/re...
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Real Estate Rookie 375 - Making $160K/Year From ONE “Rare” Property Thanks to Seller Financing:
https://www.biggerpockets.com/blog/ro...
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Connect with Ashley and Tony on BiggerPockets:
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Tony: https://www.biggerpockets.com/users/t...
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Connect with Ashley and Tony on Instagram:
Ashley: @wealthfromrentals or   / wealthfromrentals  
Tony: @tonyjrobinson or   / tonyjrobinson  

Show notes at: https://link.chtbl.com/Rookie


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!