(FREE consultation with me to evaluate a hotel/motel conversion deal): https://ultraextendedstay.com
While Others See Problems, I See 2-3 Years of Patient Negotiation Paying Off
Just watched my friends Ross Hubbard and Ryan Sudeck from Sage Investment Group execute what might be the smoothest hotel conversion I've seen all year. The Charlie Apartments in Charlotte, NC – formerly the Rodeway Inn by Choice Hotels International – is textbook conversion mastery.
🎯 Here's What Caught My Eye:
The 2-3 Year Negotiation Game These guys didn't rush. They didn't compromise their values. They waited 2-3 years to get the right deal. That's the difference between pros and amateurs – patience when it matters most.
212 Units of Pure Potential
Former Roadway Inn property
Converting nearly unit-for-unit to studio apartments
Smart wet wall utilization (leveraging existing bathroom plumbing)
Clean galley kitchens instead of expensive L-shaped countertops
The Bold Moves That Matter:
✅ Filled in the pool – turned a money pit into usable space
✅ Added amenity space – converted restaurant into community room + leasing office
✅ Local artist murals – partnered with Charlotte's quarters of opportunity team
✅ Structural integrity first – replaced rotted posts and deferred maintenance
The Market is SCREAMING for This:
Flight attendants choosing them over traditional apartments
Young professionals getting better quality at better rates
Sugar Creek Business Association already sending referrals
Pre-leasing before completion (that's confidence)
I'm curious, what does Jay Parsons say about the rental market data regarding efficiency studio units? (is there even enough data?)
What Most Conversion "Experts" Miss: The property manager nailed it: "Better quality for a better rate." When you can deliver superior product at competitive pricing, you've cracked the code. Higher occupancy + lower turnover = investor gold.
My Reaction? Pure Respect.
Ross and Ryan at Sage aren't guessing anymore. They're not pioneering – they're perfecting. Every decision from the simple backsplash choice to filling in that liability pool shows seasoned judgment.
The Real Truth About Conversions:
$35-45K per unit in their market (they're probably more efficient)
2-3 years of patient negotiation beats desperate quick deals every time
Amenity spaces aren't optional – they're essential for real apartment living
Local partnerships (like the mural artists) create authentic community feel
This Industry is Past the Experimental Phase
We're no longer learning what works – we KNOW what works. The question isn't whether hotel conversions are profitable. The question is: are you working with people who've already figured out the formula?
Want to See the Full Tour? Check out my reaction video:
Click image above to go to YouTube
Missed Issue #1? Catch up here: https://www.linkedin.com/pulse/hotel-conversion-insider-issue-1-andrew-lebaron-ojrnc/?trackingId=2WyLDq3NSkeSuL2gHV1Ing%3D%3D
The housing crisis needs more Ross and Ryan's. The question is: will you join them or keep watching from the sidelines?
FREE consultation with me to evaluate a hotel/motel conversion deal:
#HotelConversion #RealEstate #AdaptiveReuse #AndrewLeBaron #ULTRAExtendedStay #CharlotteNC #SageInvestmentGroup #HotelConversionInsider