The Hotel Investor Playbook How to Build a Hotel: Expert Insights into Real Estate Development | Zeke Freeman E8
Dec 3, 2024
Zeke Freeman, an architect and developer with over 20 years of experience, shares his insights into transforming properties into thriving hotels, including a current project near Red Rocks Amphitheater. He discusses the intricacies of zoning and entitlement processes, creative property conversions, and the importance of a strong development team. Zeke provides valuable tips on risk management, raising capital, and maximizing ROI, making this conversation a must-listen for anyone interested in hospitality real estate.
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Mitigate Risk with Contingencies
- Mitigate risk by placing properties under contract contingent on site development plan approval.
- Use due diligence periods (45-60 days) to ensure zoning, parking, and unit counts pencil out before finalizing purchase.
Understand Entitlement Process
- Understand entitlement separates zoning approval from building permits.
- First, get site plan and use approvals; second, submit detailed architectural and engineering building permits.
Cities and Owners Favor Redevelopment
- Cities are motivated to support redevelopment to avoid empty buildings causing social issues.
- Owners with financial pressures may be more open to creative redevelopment deals involving entitlements.