How To Convert A House Into A Hotel: In a recent video, I visit Damien, who shares a step-by-step breakdown of how he converted an eight-bedroom house near East Midlands Airport into a thriving hotel business. He explains everything from: negotiating with landlords; to upgrading for fire safety; to leveraging strategic locations.
Watch the full video at the top of the page or on my YouTube channel to learn how he generates over £4,250 in monthly profit from this property without owning it!
There are a lot of landlords who are struggling right now to make a profit. Many would like to start making real money renting out their properties as hotels, but they don’t know where to start. In this article, I will explain how to convert a house into a hotel the modern way!
If you find this article useful, please consider sharing it on social media. Landlords need to hear this message, and with your help, we can get it to them!
1. How To Convert A House Into A Hotel: Identify Your Target Market
If you are looking to turn a house into a hotel, you need to understand your area. Some areas are tourist hotspots, while others are primarily used for business trips or by building contractors. In Damien’s case, there was a demand from pilots, given the proximity to the airport. The target market will determine the price you can charge and the level you need to bring the property up to.
In some cases, you may find there isn’t much demand for hotel accommodation in your area. This may mean that you are better off continuing to rent your property to regular tenants. You can then look for other properties that might be better suited to being used as a hotel.
2. How To Convert A House Into A Hotel: Create A Hotel Without Staff
Now that you have identified your target market, it is time to get set up. In the past, this would mean either living in the property yourself or employing staff. But in the modern world, you can run a hotel without any staff. You can use key safes for the keys, have cleaners come in after each guest leaves, and provide welcome packs with all the information a guest could need.
Platforms such as Airbnb and Booking.com make this process easy, and have normalised this type of experience for guests. Many guests prefer self check-in as it means they can access their room without any hassle following a long journey. This set up is a win-win for everyone and significantly cuts costs.
3. How To Convert A House Into A Hotel: Do It Yourself Or Find A Partner
Running a hotel this way doesn’t need to require a lot of time. If you get the right systems in place, you can easily manage a project like this if you have the inclination. But what if you would simply like some steady rent with no voids? What if you would just like to have someone take on your property and get passive income each month? Then you could rent your property out on a rent-to-rent basis!
Damien doesn’t own the property he turned into a hotel, he rents it from a landlord. So if you are a landlord, this is always an option for you. If you are not a landlord, there are always landlords open to taking on this kind of deal. Either way, with the right information and training, this can be a win-win for both sides.
How To Convert A House Into A Hotel: Get Trained!
If you want to learn how to convert a house into a hotel and other property strategies, why not get trained by the best? Join me at my next £1 training event!
On the course, you will learn how to:
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Become a property investor using other people’s money so that you can get started straight away
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Utilise the 5 different types of raised finance so that you know exactly what to offer and when
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Find the perfect properties for the BRRR strategy
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Recycle your money so that you can ‘rinse and repeat’
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Build a power team you can trust, so that you can save time and money
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And much more!
Tickets are only £1, and you can get yours here. If you are ready to take action, I hope to see you very soon!
