Investment Trend – Hotels Converted To Appartments
As affordable housing becomes more scarce nationwide, developers are buying distressed hotels and turning them into apartments. Nationwide, 18% of hotels are behind on their mortgages as of Dec, 2020. “Apartments around here, you might pay $120,000 a door, and we can purchase these hotels probably $30,000 to $40,000 a door, and maybe put $10,000 […]
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