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 Rushton
Direct number: (805) 403-7080
charlie@saberequity.com
https://www.linkedin.com/in/charlierushton
Key points:
01:25 Charlie’s outlook on the current market
02:43 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 space
05:29 Charlie’s journey from the hospitality sector to RE investor
08:30 Breaking into the multifamily investing space for the first time
11:01 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-go
17:37 How to approach gatekeepers and large, institutional investors
20:06 How to make a pitch to large capital providers
23:00 Developing the relationships with your capital sources even further
24:01 Transitioning into the hotel conversions space
27:26 Hotel conversions and zoning issues
32:06 What does Charlie look for in a good conversion deal
34:51 What type of room amenities are added in, in a typical hotel conversion?
36:32 The opportunity for adding co-working spaces
38:46 Closing thoughts & how to reach out to Charlie
40:15 How to get in touch with Charlie
