Hotel to Multifamily Conversion Investing Explained

Hotel to multifamily conversion investing is emerging as a powerful strategy for investors seeking equity creation in challenging market conditions. In this episode of the Multifamily Rock Star podcast, Laurent Meyer breaks down how converting underperforming hospitality assets into apartments can unlock massive value. He explains why these projects are driven more by value creation than traditional cash flow plays and why zoning, density, and land use are the real levers behind long term returns.

Laurent emphasizes that this strategy is not about buying stabilized assets. It requires vision, patience, and a deep understanding of local regulations. He shares how hospitality assets often trade below replacement cost, creating an opportunity for investors who can navigate entitlement changes and reposition the property for residential use.

Zoning, Density, and the Real Source of Value

A major theme of the conversation is the importance of zoning and density increases. Laurent explains that changing the property’s use from hospitality to multifamily is the critical step that unlocks value. Without zoning approval, the deal has no upside, which is why structuring contracts around entitlement success is essential.

He walks through how increasing allowable unit density dramatically impacts valuation. In his deal, the value was not only in the existing structure but in the land itself and its future development potential. This approach allows investors to refinance, return capital, and still retain long term ownership.

Key factors Laurent highlights include:

  • Understanding minimum unit size requirements for residential use

  • Working closely with city and county officials

  • Structuring purchase agreements that protect downside risk

Execution, Focus, and Long Term Vision

Laurent stresses that execution is everything in complex conversion projects. These deals often involve extended timelines, higher upfront capital, and periods without income. Success depends on maintaining focus on the end goal and having a clearly defined outcome tied to time and value.

He also discusses the mindset required to navigate setbacks and delays. Rather than viewing challenges as problems, he treats them as part of the process. This long term perspective allows investors to stay disciplined and avoid emotional decision making when projects take longer than expected.

Why Syndication Makes These Deals Possible

Hotel to multifamily conversion investing is rarely a solo endeavor. Laurent explains how syndication allows investors to combine capital, expertise, and execution capabilities. By leveraging a strong network, investors can pursue assets that would be impossible to acquire alone.

He highlights how different partners contribute different strengths, whether capital, operations, or asset management. This collaboration reduces risk and increases the likelihood of successfully completing complex repositioning projects.

Guest Bio: Laurent Meyer

Laurent Meyer is a seasoned real estate entrepreneur with international development experience across Europe and the United States. He has invested in multiple asset classes, including office, industrial, and multifamily, and specializes in complex value add strategies. Laurent is known for his ability to identify future value in distressed or misused properties and execute long term repositioning plans through disciplined syndication and development.

If you want to hear the full conversation and detailed insights, watch the podcast video or read the complete transcript below.

Hotel to Multifamily Conversion Investing FAQ

What is hotel to multifamily conversion investing?
Hotel to multifamily conversion investing involves purchasing an underperforming or vacant hotel and converting it into apartment units. Investors create value by changing the property’s use, increasing density, and repositioning the asset for long term residential demand.

Why is hotel to multifamily conversion investing attractive in today’s market?
This strategy is attractive because many hotels trade below replacement cost, especially in slower hospitality markets. Investors can acquire assets at discounted pricing and create equity through zoning changes and redevelopment rather than relying solely on rent growth.

How does zoning impact hotel to multifamily conversion investing?
Zoning is one of the most critical factors in hotel to multifamily conversion investing. Approval to change the property’s use determines whether the conversion is viable and how many units can be built. Increased density often drives the majority of the project’s value.

What are the biggest risks in hotel to multifamily conversion investing?
The main risks include zoning denial, construction cost overruns, extended timelines, and carrying costs during redevelopment. These risks are reduced through strong due diligence, conservative budgeting, and structuring purchase agreements around entitlement approvals.

How long do hotel to multifamily conversion projects typically take?
Timelines vary, but many projects take twelve to thirty six months from acquisition to stabilization. The process includes zoning approvals, design, construction, and lease up. Patience and long term planning are essential for success.

Is hotel to multifamily conversion investing suitable for new investors?
New investors can participate through syndications or by partnering with experienced operators. While the strategy is complex, learning alongside seasoned professionals allows investors to gain exposure without managing the entire project themselves.

How do investors add value in hotel to multifamily conversions?
Value is created through rezoning, increasing allowable density, redesigning unit layouts, and modernizing infrastructure. Investors also improve long term performance by targeting markets with strong housing demand and limited new supply.

Why is syndication commonly used in hotel to multifamily conversion investing?
Syndication allows multiple investors to combine capital and expertise to pursue larger and more complex projects. This structure spreads risk, improves execution capability, and makes large scale conversion opportunities accessible to more investors.

Disclaimer: This summary was written with the help of AI and reviewed by Rod’s Team.

00:00:28:23 – 00:00:46:20
Rod Khleif
Welcome back to multi-family Rock star. So as you guys know this is where we deep dive into our guests deals. And we’ve got a really cool one today. Just so you know, it’s not one we’ve ever talked about on the show. And we give you some practical and actionable items to help you get started and really help you get started doing your first deal.

00:00:46:20 – 00:00:53:05
Rod Khleif
We talk about that, especially if you’re brand new to multifamily. And as usual, I’ve got my co-host, Mark Nagy with me.

00:00:53:07 – 00:00:55:14
Mark Nagy
Good to be here and happy to be here.

00:00:55:16 – 00:01:16:07
Rod Khleif
Well, we’ve got an awesome guest for you guys today. And you will be easily guess where he’s from once he starts talking. His name is Laurent Meyer, and, and he’s got a, he’s got the shiny penny syndrome, entrepreneur bug like I have, because he’s done all sorts of things. So I’m really excited to hear about his background or let you guys hear about it.

00:01:16:09 – 00:01:33:02
Rod Khleif
But his deal that he did is very unique. And becoming a little more prevalent. But, I’m really looking forward to digging into the deal. What it is, is it’s, hotel to multifamily conversion. So that’s really, really excited to dig into that. Welcome to the show, buddy.

00:01:33:04 – 00:01:34:14
Laruent Meyer
Thank you so much. Thank you so much.

00:01:34:16 – 00:01:41:19
Rod Khleif
Yeah. Sure. So why don’t you take a few minutes and just give us a little background on who you are and where you came from?

00:01:41:23 – 00:02:08:23
Laruent Meyer
So my name is Lawrence Meyer. I am bronze, and. Yeah. And you can organize with my accent, I am sure, even if I move in 2007, 2008 in Florida and, I have a great experience in business and in real estate in Europe and in America. So for the last 15 years, I used to invest in real estate and, change from one asset to different asset, study by study.

00:02:09:00 – 00:02:16:03
Laruent Meyer
But I have been always, you know, real estate and I have always been involved in different types of businesses.

00:02:16:04 – 00:02:28:12
Rod Khleif
Well, you got to give us a little more detail than that, okay? Because I saw all kinds of cool stuff here that you’ve done. So talk talk a little bit about your. Well, I know you’ve, you’ve also done real estate development as well. Yes. In France.

00:02:28:14 – 00:02:33:19
Laruent Meyer
Absolutely. Yeah. And estate development and it was mainly shopping center and office.

00:02:33:19 – 00:02:51:11
Rod Khleif
Okay. And you moved you moved here. You moved here in the, in the depths of the crash. Oh seven and oh eight man. That’s right. Oh eight is when it hit, perfect. The perfect timing to, to get into real estate here because you didn’t you didn’t get your butt kicked like I did. So you weren’t, like, beat up and hiding under a rock like I was.

00:02:51:16 – 00:02:58:03
Rod Khleif
But but you did some other businesses. I just think it’s fascinating. So just briefly highlight the businesses that you’ve done.

00:02:58:05 – 00:03:28:18
Laruent Meyer
So one of the businesses that they, opened in 2007, 2008 was a rental. Dubious. So rent the first provider GPS system for the rental, giving them a return. And that was the first one to open, different location. We opened the 54 different location, and they used to, collaborate with a different, national brand like enterprise Alamo.

00:03:28:20 – 00:03:36:12
Laruent Meyer
It is and that used to partner with them to be the provider. So main provider about GPS system okay.

00:03:36:12 – 00:03:46:13
Rod Khleif
So pre pre telephones pre pre cell phone GPS Google Google maps kind of screwed that up. But you were renting GPS is to car rental companies to put in their cars. Wow.

00:03:46:14 – 00:03:53:15
Laruent Meyer
Fantastic idea. Absolutely. And it was a win win win to everyone. Because at this time the G.P.S. was not developed in America.

00:03:53:17 – 00:03:54:00
Rod Khleif
Right.

00:03:54:00 – 00:04:19:03
Laruent Meyer
And it was a big challenge, but it was at the end the great opportunities, for not to release zoom until the consumer, but also for myself because it was just a new in America. So it was a great opportunity, also to be able to understand the different the available about the different states, so. Oh, really very important.

00:04:19:05 – 00:04:23:11
Laruent Meyer
So I was able to travel and most of the time almost everywhere.

00:04:23:13 – 00:04:40:12
Rod Khleif
Oh, nice, nice, nice. Now I know that you have, also developed office buildings. You’ve developed some other sorts of things as well. Industrial property, large multifamily. Was that and that was in the states, though, correct?

00:04:40:14 – 00:05:06:10
Laruent Meyer
Absolutely. It was in Florida into as you probably know, I have to invest in real estate in 2009, 2010. And at the beginning, I used to get properties and different type of assets only in Hollywood, North Miami, Hollywood, and it was very close to my office, very close to me. And I used to do and and by everything by myself.

00:05:06:12 – 00:05:30:16
Laruent Meyer
So at this time I didn’t know anything about syndication. You don’t know anything about multifamily? You don’t have any knowledge about the concept about syndication. So it took me a lot of time to, appreciate and to understand what’s important, to understand the value about syndication and syndication into my life. In 2015.

00:05:30:18 – 00:05:39:10
Rod Khleif
And so. Okay, so you started doing syndication in 2015 with your depth of experience. Why did you join the warrior program? I’m just curious.

00:05:39:12 – 00:06:03:23
Laruent Meyer
Mainly because I love to connect. I think that’s the one of the main, qualities that people need to get in syndication is the fact to connect. And they think that it’s very important to be very humble and to be always to be open to discuss with different types of people and to have different view about the assets, all the different aspects.

00:06:03:23 – 00:06:30:23
Laruent Meyer
I think that not everyone can build, they can never think. And the demand. I see multifamily and syndication like a positive. Everyone can bring value and I love this concept. I think that’s the the main concept about syndication is to bring the best in one item in one field. If everyone can bring something like the next bit in one field, it can be a win win win for everyone.

00:06:30:23 – 00:06:50:10
Rod Khleif
Yeah. And this you know, guys, you’ve heard me say this on the podcast numerous times. There’s lots of different hats that you can wear in this business. And you know, if everybody’s playing to their strengths and what they love know first of all they love what they’re doing. Number one work is play. And they never work another day in their life because they’re doing what they’re loving and they’re strong in it.

00:06:50:13 – 00:06:58:08
Rod Khleif
But you bring people that are strong together like that and success is just a foregone conclusion. So that’s what you’re talking about here, right, Lauren?

00:06:58:08 – 00:06:59:24
Laruent Meyer
Yes. Absolutely. Yeah. Absolutely.

00:06:59:24 – 00:07:00:19
Rod Khleif
Yeah.

00:07:00:21 – 00:07:08:19
Mark Nagy
So what have been some of those hats that you’ve worn throughout the years and getting into Syndications. What is what has really been your skill set and your things that you’ve brought to these deals?

00:07:08:24 – 00:07:31:06
Laruent Meyer
So I think that, the main quality that I have most of the time for business of multifamily, but multifamily is also business at the end, I can see the value about an asset in the future. Yeah. And I think that this is probably one of the great qualities that I have when I see an asset.

00:07:31:06 – 00:07:41:19
Laruent Meyer
I don’t see an asset. Now I am able to see an asset when the CapEx and the, the value, the will be in place.

00:07:41:21 – 00:07:57:04
Rod Khleif
You can see what it’s going to look like. Yeah. That’s a that’s the toughest thing for me. I can’t I’m terrible at it. So that is an incredible quality where you can see what it’s going to look like when it’s done. I don’t have that ability. So I. I’m jealous. Oh good for you. Yeah. That’s awesome.

00:07:57:06 – 00:08:18:23
Laruent Meyer
It’s a great, it’s a great time. In fact, when I see, someone, when someone see a problem, most of the time I consider an opportunity to, I have a vision about the future of the deal, and, I never, never. And this is my second quality. I never give it good. Never. What’s happened?

00:08:19:01 – 00:08:51:10
Laruent Meyer
I it’s very important to be focused, focus with a clear vision, with a clear goal. And by the way, for me, a goal. It’s based on two aspect timing, an amount is a goal is not clearly defined. It’s not the goal. Yeah. Great. I goal to to have a clear goal to be focused and and, and in fact when we get to property, with different issue, we know in advance that it will be with up and down.

00:08:51:12 – 00:09:00:10
Laruent Meyer
And if it is up and down, we know that it will be a lot of challenge. So this it’s part of the deal. It’s part of the business. It’s part of the journey.

00:09:00:12 – 00:09:20:19
Rod Khleif
Yeah yeah. By the way guys, you know when you’re doing your goals which you must do they’ve got they’ve got to be clear and measurable. Otherwise they’re not goals. You know like I’m going to lose some weight. No I’m going to lose ten frickin pounds by January 18th and feel great about it. That’s a goal. Okay. As an example of clear and measurable and clearly defined.

00:09:20:21 – 00:09:40:17
Rod Khleif
So let me ask you this. You know, I have lots of different listeners on the show, different avatars, as it were, different personality types, different types of people. Who do you think you relate to the most in that regard as it relates to my listeners? What what sort of type of person?

00:09:40:19 – 00:10:08:07
Laruent Meyer
I think that the people that can be interested, most of them, it will be in the saw that so that they could do everything by themselves. One word percent, and probably that they realize now that multifamily is one of the key to create financial freedom. And, this and this tool was to understand that being part of a team is very, very powerful.

00:10:08:07 – 00:10:12:22
Laruent Meyer
So it would be this type of, of, officer.

00:10:12:24 – 00:10:15:13
Rod Khleif
Yes. Yeah. Okay. Okay.

00:10:15:15 – 00:10:36:02
Mark Nagy
So bring us into your first deal. You’ve got a really interesting one here as a warrior, hotel to multifamily conversion. Like rod said, I don’t think we’ve ever, ever talked about that. Tell us about how you found this. And. And what does that even look like, converting a hotel into multifamily. Why? Was that something you guys even went after?

00:10:36:04 – 00:10:38:02
Rod Khleif
Yeah. And where is it as well, please.

00:10:38:04 – 00:10:47:06
Laruent Meyer
Yes. So it’s, this asset is, located in Sanford, Florida, in Pearl County in liquids.

00:10:47:08 – 00:10:49:01
Rod Khleif
So Lake Wales.

00:10:49:03 – 00:11:28:10
Laruent Meyer
Exactly in the middle in Florida. So question about, hospitality to multifamily is probably the most the challenge in business, in real estate. Why? Because if we think we’d be based on the profit one, everything will be based on the value one. And it will be a lot of requirements based on the legal part. For example, an asset hospitality that need to be moved in multifamily.

00:11:28:12 – 00:12:03:14
Laruent Meyer
We have to change a zoning and we have to change the use. So as we require a whole lot of that, Wharf could be for any rental. And this can take sometimes because everything will depend about the city, the building department and the county. But like every business, because it’s a new business, it’s probably one of the best two way to create not only, good cash flow, but excellent, excellent equity.

00:12:03:16 – 00:12:17:19
Rod Khleif
Yeah, yeah. So, so let’s let’s get a little bit micro here. And so when you found this property, it was this a situation where you had to change the use or did it already have a higher commercial zoning on it?

00:12:17:21 – 00:12:42:24
Laruent Meyer
Yes. So zoning wasn’t it was not change. It was a no. Ten. It was a motel. In fact, I was able to find this property on the market. And there was able to do like he was owner. I gives him, I give them the full price. But I asked them, only one condition before the closing, and the only condition was to be able.

00:12:42:24 – 00:12:49:16
Laruent Meyer
I was able to, request the change of zoning. Yeah. So when the request requested.

00:12:49:16 – 00:12:55:00
Rod Khleif
Requested or get it, get it, get it, got it. Okay.

00:12:55:02 – 00:13:02:19
Laruent Meyer
So I went through the auto process. And after three months, when I received the change of zoning, I was able to close immediately.

00:13:02:21 – 00:13:20:18
Rod Khleif
Fantastic event. That’s the reason I asked. Because, you know, when you’re dealing with something like that, guys, you’re gonna need to involve the seller in that kind of a situation because that’s of no value to you if you can’t get that zoning change. This is applicable when you’re dealing with land sometimes as well. You know, you’ve got to get the use change.

00:13:20:18 – 00:13:38:11
Rod Khleif
You’ve got to get what they call the density, the number of units you can put in things like that. So, again I want to get a micro. This is more for me than probably even my listeners more than that. But so the units was it, an extended stay type hotel where it had kitchens already, or did you have to put kitchens in?

00:13:38:16 – 00:13:45:24
Rod Khleif
I mean, what describe the sort of interior work that you had to do to turn these into actual multifamily units?

00:13:46:05 – 00:14:15:09
Laruent Meyer
Yes. So before I will give you an overview about, the land, because the value for me was about the land each year, upland with 60 acres of lake. So it’s an excellent, excellent location, excellent situation. And from this point, my goal was to get not only 56 because at the beginning it was 56 or 30 soon, but I was able to get a density of 225.

00:14:15:15 – 00:14:16:18
Laruent Meyer
Apartment.

00:14:16:20 – 00:14:17:13
Rod Khleif
Wow.

00:14:17:19 – 00:14:49:20
Laruent Meyer
So yeah. So my first phase was to convert the 56. It authors who we so it was no picture, nothing inside. My first goal was to ensure that, we follows the regulation about, housing and the minimum requirement for the housing is to get minimum 362ft² per woman. Otherwise, it’s not possible to be considered as studio.

00:14:49:22 – 00:15:07:08
Laruent Meyer
So I was it to get to, most of the room above 400ft² and we change all the plumbing, also electrical, all the roof. We didn’t sell new kitchen, new bathroom. It we think these bring you very nice to you. It so.

00:15:07:08 – 00:15:23:21
Rod Khleif
They’re all studio units. They’re all studios? No studios. Of course you got it all studio. If you know, if you don’t know what a studio is, guys, there’s no bedroom. You basically, it’s one room. You’ve got a kitchen on one end. Maybe you’ve got a separate bathroom, obviously with a door, but the rest of it is one big room.

00:15:23:23 – 00:15:30:17
Rod Khleif
And, for, for single people that that are on a budget, it’s fantastic, you know. So love it. Yeah.

00:15:30:19 – 00:15:42:24
Mark Nagy
How long did this take from close to having everything done to being able to lease out units? And what did that cost as well? Because I would imagine it’s a little bit more expensive than a typical rehab project.

00:15:43:01 – 00:15:48:22
Laruent Meyer
Yeah. So to give you some highlights, I chose this property $2.2 million.

00:15:48:24 – 00:15:50:01
Rod Khleif
That was the purchase price.

00:15:50:01 – 00:15:59:23
Laruent Meyer
Got it. It was already a great, great deal because the seller was not aware about the new zoning. It got a standard 2 million CapEx.

00:16:00:00 – 00:16:01:04
Rod Khleif
Okay, 2 million.

00:16:01:04 – 00:16:06:02
Laruent Meyer
Or 2 million. And it took me two years, two years to two.

00:16:06:02 – 00:16:07:05
Rod Khleif
Years to do it.

00:16:07:07 – 00:16:20:17
Laruent Meyer
Yes. To get everything accomplished until the end. So you invest 4.4 and we will one will go up one on the road in January 2024.

00:16:20:19 – 00:16:28:13
Rod Khleif
Wow. Well, you got two years and you got an appraisal. I don’t want to steal your thunder. Talk about it. So you got. Sorry. I was going to say yes.

00:16:28:15 – 00:16:49:13
Laruent Meyer
And. And finally I get I go to an position for nine point, $4 million or $9.3 million, and there was able to refinance, in March 2024. So at the same time, this property. So today we just to finalize all the cycle, the complete cycle of two years.

00:16:49:15 – 00:16:56:22
Rod Khleif
We just everybody’s got their everybody’s got their money back. They’re still in the deal. There’s still cash flow. It’s a beautiful thing.

00:16:56:22 – 00:17:18:11
Mark Nagy
Good for you. That’s a $5 million value add minus holding costs. Obviously in less than two years you know that’s that’s never something I could do. Right. Because a year and a half, two years with no income, we’re there. Some stressful times, some stressful periods during that year and a half, two years, you know, not having income and going throughout this entire project.

00:17:18:15 – 00:17:36:13
Laruent Meyer
If it was difficult. No, it was not difficult when we knew the goal that yeah, when we when we focus on the goal, it’s a like to be on the boat. Sometimes there is a wave on the left and the right. It’s okay. It’s almost important to know exactly what the goal. Yeah, yeah it’s yeah.

00:17:36:13 – 00:17:56:00
Rod Khleif
You’re gonna you’re going to have those waves. You’re going to have those waves they hit knock you off course. You know, if you’re in a boat or a plane, you’re off course. 99% of the time, but you end up in the right place if you know where you’re headed. Bottom line, you know, and, and, and and this is just the first piece now you’ve got you’ve got the land really with no debt on it.

00:17:56:00 – 00:18:00:23
Rod Khleif
I mean I’m well maybe you do I don’t know. Are you going to parcel it off or do it as part of the same package.

00:18:01:00 – 00:18:12:18
Laruent Meyer
So now I will ship delayed. And, you got some land in for you, not two for you. It would be for you. Each will. You will get 50 units. So he’s.

00:18:12:18 – 00:18:19:09
Rod Khleif
Okay. He’s saying folios. He’s making segments or or stages for stages. Got it.

00:18:19:11 – 00:18:28:14
Laruent Meyer
Not only it will be subdivided by for you. So we subdivide with the county the land in four different bottle.

00:18:28:17 – 00:18:39:12
Rod Khleif
Got it for different parcels. Okay. Folio is is the word that we don’t use here that much. But yes. Got it in for part for parcels. And so you’ll do what you say. How many units per per parcel.

00:18:39:14 – 00:18:41:08
Laruent Meyer
5030.

00:18:41:10 – 00:18:47:13
Rod Khleif
And but that land I mean that land really doesn’t have debt on it, does it. Because you’re are you able to pull.

00:18:47:13 – 00:18:49:08
Laruent Meyer
Yeah I mean that.

00:18:49:08 – 00:19:05:06
Rod Khleif
Always good for you man. That is such a screaming deal. Good for you brother. I know there was a little I had a little angst around the deal. I, I said because because I, you know, I know you had warriors involved and there was, there was a, communication thing with one of them. And I’m like, is everything okay with this deal?

00:19:05:06 – 00:19:19:17
Rod Khleif
I remember calling you about it and you’re like, yes, the why are you bothering me? And I’m like, because that’s my job. Because it’s my job to make sure everything’s okay. But, what a screaming deal, brother. Congratulations. Seriously. That is. Thank you. So that is really, really exciting now.

00:19:19:17 – 00:19:30:21
Mark Nagy
So you partnering with other warriors on this deal had had any of you guys ever done a deal like this before or was it brand new doing a hotel conversion for everybody on the team?

00:19:30:23 – 00:19:55:17
Laruent Meyer
For myself, it was not the first time I did already one previously, but it was a smaller one. Okay by myself when Albertsons but it’s it’s really again, it’s like any type of business. One need we think is will establish. And when they we think physically, when every corner is already it we think is possible. Yeah.

00:19:55:18 – 00:19:59:19
Laruent Meyer
So knowledge is probably the most important knowledge. Yeah.

00:19:59:21 – 00:20:01:00
Rod Khleif
Knowledge is everything.

00:20:01:02 – 00:20:22:20
Laruent Meyer
Yes. The most dangerous is to building business all in real estate without any knowledge. This is probably I think. And you feel the water gates when someone on tour in any business, any acquisition or in that don’t know exactly what’s going on, they don’t know how to analyze or deal. They don’t know what is in the way. I don’t know what is right in this case.

00:20:22:20 – 00:20:24:00
Laruent Meyer
It can be the we don’t.

00:20:24:02 – 00:20:48:10
Rod Khleif
But but which is the value obviously the warrior program because they’re they’re people that have done thousands of deals, the hundreds of thousands of deals at this point. And so, so, by the way, if you’re interested in the warrior program, for God’s sakes, here’s how you apply. And you should apply if you have any interest in this business, because it’s just would you say that has it been pretty extraordinary the program for you so far, Meyer?

00:20:48:12 – 00:20:56:03
Laruent Meyer
It was great. It was a great it’s a just a great to connect with people and good people. Great people. Absolutely.

00:20:56:03 – 00:21:17:12
Rod Khleif
Very, very good people. Yeah. That’s that’s I can’t believe the quality the people we’ve got in the group. If you want to apply, just text the word crush to seven, two, three, four, five. Again, crush so we can help you crush it in this business. 272345. So so give us some detail as to how you found this off market deal.

00:21:17:12 – 00:21:23:02
Rod Khleif
So what did you do to even have it come across your desk? Talk about that a little bit.

00:21:23:04 – 00:21:54:17
Laruent Meyer
So during Covid I decided to instead to stay behind made this I decided to travel and to meet a lot of spirit broker in Florida in Nature City. So I went for a few months and I decided to check. Do you feel up to market to understand the market? And because the broker was available, because it was Covid, I was able to meet most of them.

00:21:54:19 – 00:22:01:11
Laruent Meyer
I met, some girl in the pulque, and I give them Polk.

00:22:01:11 – 00:22:04:04
Rod Khleif
Polk County is what you’re saying, correct? Polk County?

00:22:04:06 – 00:22:30:03
Laruent Meyer
Yes. Okay. Yes. In sunflower, Florida. And I give them all the different specificity about the type of deal that I was looking for. This, at this time, I was looking for specifically hospitality to multifamily because it was, for me, the best way to create very first, not only equity but also positive cash flow very fast at this time.

00:22:30:03 – 00:22:53:09
Laruent Meyer
It was, by the way, very difficult to find a multifamily with a good cash flow. I remember was like a it used to be for Facebook Summit, which was not good. And one of the broker contacted me and they told me that this sign do not market. And I asked them to, put me directly in contact with the seller amid them.

00:22:53:11 – 00:23:17:03
Laruent Meyer
And it was a very nice meeting, in liquids, between the sellers and will give and myself. And that was very clear and straight to both my what was a very serious about point proposal. I went with, the check and they went with a letter from the bank to show them how serious about it. And I think that appreciate a lot this type of, negotiation.

00:23:17:05 – 00:23:33:14
Laruent Meyer
And we close probably in the in the one hour this deal, we find a good compromise for everyone. So it was a UPS market. It was a great deal for everyone, for the similar of the worker and for myself.

00:23:33:16 – 00:23:52:06
Rod Khleif
And it’s on a lake, by the way, what you just said is very important. Guys, I don’t want to gloss over what he just said. Whenever you have a negotiation and you can have a win win win like he that’s what he just described. That’s the best situation you can have. Good deal for everybody where everybody, you know, it makes sense for everybody.

00:23:52:06 – 00:24:11:13
Rod Khleif
So, obviously you’re a great negotiator because for you to even say that means that that’s important for you. So I love that. So let me ask. Let me ask something here. Mark, apologize. So, you know, what suggestions would you have for someone starting out in this business?

00:24:11:15 – 00:24:21:12
Laruent Meyer
I think that that, one point, the most important. Is to jump in one deal.

00:24:21:14 – 00:24:22:07
Rod Khleif
Yeah.

00:24:22:09 – 00:24:49:23
Laruent Meyer
To take action is very important. And everyone can bring value. Everyone can bring value. So at one point, everyone should be involved in one of the deal. You can be a CPA, you can be as in-demand. You can be, someone that will bring some food, but everyone can be involved as L.P. limited or GP. But I think that there is a room for everyone.

00:24:50:00 – 00:25:12:00
Laruent Meyer
Everyone. I think each one needs to understand his own values, what is valuable to each one? Different people, different value and these value combine can bring a lot of value for the dealer. So to answer your question, I think that the most important is to find the good, the good people, the goodwill, and to jump in when.

00:25:12:02 – 00:25:27:00
Rod Khleif
You know, I see it with I see it with my warriors all the time. It’s we call it the law of the first deal. It’s the hardest. It’s the scariest. Sometimes takes the longest. They’re complaining because they don’t have a deal. Yeah. And I’m like, just get out there and call brokers. Don’t send me your logo. I don’t care about your logo.

00:25:27:01 – 00:25:44:22
Rod Khleif
I want to know that you’re calling brokers, meeting with brokers. Look at, you know, talking to your people about raising money, doing income generating activity. And then they get one. And next thing I know, they have three. You know what just happened? It’s that first deal. So like you said, Maya, that is really good advice. You just got to do it like Nike says.

00:25:45:03 – 00:26:07:22
Mark Nagy
So that’s a good point, right? Not not doing a bunch of stuff that doesn’t bring you results. Doing money making activities as they call. Right? Yeah. Right. Logo doesn’t bring any money in. Yes. Right now at your current pace, if you’re to keep doing these deals, maybe around the same size, if you were to project it out, how long you think it’ll take you to reach financial freedom?

00:26:07:22 – 00:26:12:10
Mark Nagy
Or how many more of these deals do you think you need to do to get to your financial freedom goal?

00:26:12:12 – 00:26:49:03
Laruent Meyer
So my financial freedom is depending goes a financial freedom from someone else, because everyone knows exactly how much you have to get. If we go annually, depending on what they need. I’m a disciplined. The financial freedom for someone can be 3000 for on those on 30,000 and all different differently. That’s for myself. I think that I can expect to get to, financial freedom when that we get at least 200, apartments, as ownership.

00:26:49:05 – 00:27:03:05
Rod Khleif
Yeah, yeah, yeah, 200. Okay. Hundred. Yeah. So, so let me ask you this. What do you love the most about this business? What is your favorite part of of this real estate game that we love to play?

00:27:03:09 – 00:27:35:08
Laruent Meyer
So the main, two aspect that I love, I don’t like, but I love about syndication is the leverage, because it’s possible to get access to a set that someone alone cannot get. Yeah. When we combine the knowledge and the different the value, immediately we can bring the different types of assets. Yeah. And the only, I like.

00:27:35:08 – 00:27:52:19
Laruent Meyer
And so just like to be focused on one aspect, one field. So it’s very important because if someone by, for example, a house to make a, to make money and to get the cashflow and to get to an equity, they’re supposed to do everything they have to buy, not just to lease, have to repair, they have to do everything.

00:27:52:21 – 00:28:25:20
Laruent Meyer
But if someone invest in multifamily with one unit, they don’t have to get everything they can. They can find, for example, property, or they can maintain the property, or they can bring the home. So it can be only one thing, but one thing very good. Let the next build. Expertise is probably what they learn in this type of business, because at the end, we are sharing everything between expert and when expert combine all the knowledge, we can bring the best of both an asset.

00:28:25:23 – 00:28:35:17
Laruent Meyer
So best about the business which is at the end the most important. So I love equity, I love the value and I love connections with people. Yeah.

00:28:35:18 – 00:28:48:19
Rod Khleif
I just want to clarify something you said because I’m not sure people understood it. If I could see your face. So I could read it. And you said bring funds is what you said. You and I don’t know if people heard that you can bring money, you can bring deals, you can bring maintenance, you can bring asset management.

00:28:48:19 – 00:28:54:02
Rod Khleif
There’s all these different hats you can wear. But you said bring funds. I just want to make sure they understood the.

00:28:54:04 – 00:29:03:10
Mark Nagy
So what what were some of the other things that the other warriors brought to this deal then, that you partnered with that you needed? What did they bring to the table?

00:29:03:12 – 00:29:03:24
Rod Khleif
Yeah.

00:29:04:01 – 00:29:28:05
Laruent Meyer
That bring equity? I was probably I was the only GP. Okay. So I, you don’t have any other GP. So the goal for them was to be sure that they will execute the plan. So yeah, they could correctly the business plan. And you love executions. So it was perfect for me because I was able to execute almost everything from A to Z.

00:29:28:05 – 00:29:31:00
Laruent Meyer
So I did everything by myself. Honestly.

00:29:31:02 – 00:29:44:17
Rod Khleif
Wow. So, so so you brought you you you basically raised the money in the warrior group, which is fine. So that is fantastic. A lot of people do that. So that’s just one of the additional benefits. There’s a ton of money in the group.

00:29:44:17 – 00:30:01:09
Laruent Meyer
So yes. So it’s a great group because again, the people who share the same type of mind, the same good. So the quality of the people are probably one thing very, very important that we can find is good. And I.

00:30:01:11 – 00:30:03:11
Rod Khleif
Love it. Yes. Love it. Yeah.

00:30:03:11 – 00:30:10:03
Mark Nagy
So if people like your strategy and resonate with this story here, Laurent, where, where can people reach out to you.

00:30:10:05 – 00:30:27:22
Laruent Meyer
So anyone can reach me to, on my email? Laurent l a you, in t with a t like a term at the end at equity multi family.com equity multi family.com.

00:30:27:24 – 00:30:42:08
Rod Khleif
Got it. Yeah. So Laurent Laurent Laurent. Yeah. Got it Laurent at equity multifamily.com. Well thank you brother. It’s great to see you. Congratulations on that deal. Yeah and I do. Yeah I appreciate I appreciate you adding value today my friend.

00:30:42:10 – 00:30:44:14
Laruent Meyer
Definitely appreciate it. Thank you so so much.