Ep: 52 A Masterclass in House Hacking and Hotel Conversions with Alex Cartwright

Today's guest is Alex Cartwright. He is a Managing Partner at Vilicus Capital where he is responsible for managing the firms' strategy, market analysis, and underwriting. He has completed dozens of multifamily real estate transactions and has overseen dozens of complex rehab projects. 
Alex is also Associate Professor of Economics & Chair of the Management Department at Ferris State University where he teaches classes on Managerial Economics, Economic Growth, and International Business.
In this episode, Alex explains how anyone can get started with a solid financial foundation through house hacking. His passion for providing affordable housing led him to discover his unique niche within multifamily real estate, hotel to multifamily conversions. He then gives a hotel conversion masterclass, exploring all its benefits and pitfalls.  

Help us reach a wider audience by leaving a five-star review, and learn how investing in affordable housing can transform lives and generate wealth. 
Don't miss this captivating episode filled with actionable insights!
👉 Episode Topics
[00:34]   Meet our guest, Alex Cartwright
[03:29] Buying and renting out property
[08:30] Hotel conversions for workforce housing
[11:10] Active management in real estate
[13:22] Affordable housing challenges
[18:32] Rental market and housing demand
[20:22] Buying a small multifamily
[24:20] House hacking and opportunity costs
[30:44] Paying someone to end their lease early
[38:07] Hotel conversion and profitability
[44:51] Hotel conversions with office conversions
[50:59] Creating affordable housing
[55:29] Hotel conversion masterclass
👉 Notable Quotes
"You ought to be asking yourself the question, if I'm buying a house, why am I not buying a small multifamily?" -Alex Cartwright
"By buying a duplex or a fourplex and living in one unit and racking out all the others to pay for the mortgage, you're effectively raising your income by a third."-Alex Cartwright
"You’ve got more millionaire renters than ever before. More people are earning over 200,000 renting than ever before in the history of the United States."-Alex Cartwright
"There was some definitely hot actionable tips in there, so hopefully people are paying attention to that when they're considering house hacking."- Tim Little
"Choosing the right location and leveraging FHA or VA loans can provide financial advantages from the start." - Tim Little
👉 Connect with Alex Cartwright:
LinkedIn: Alex Cartwright
Email: acartwright1@gmail.com
Website: vilicus.capital
👉 Connect with Tim
Linkedin: Tim Little
Instagram: @tim_at_zana
Email: tim@zanainvestments.com
Visit www.ZANAinvestments.com for more info on Tim and how you can passively invest in multifamily real estate
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