121. From Check-Ins to Lease Agreements: The Hotel-to-Apartment Conversion with Scott Fouser

Westside Investors Network

ABOUT SCOTT FOUSER

Since September 2015, Scott has served as Chief Revenue Officer for Househappy, a leading-edge home service and technology platform. His role in the company came as a result of Househappy’s acquisition of GruntWorks, which he founded in 2011.

Scott’s other ventures have included RealNet, LeaseEasy, Tax Refund Centers, and Pacific West Properties. RealNet was one of the first real estate investment companies of its kind and made Inc. Magazine’s list of 500 fastest-growing private companies twice.

Scott graduated from Pepperdine University with a Bachelor of Science in Business Administration and Marketing. He has served as the Membership Chair for the Oregon Evergreen Chapter of the Young President’s Organization (YPO) and on the Board for the Portland Rose Festival Foundation. He has also served three times as a judge for the New Venture Championship through the University of Oregon and as a judge for Pepperdine University’s Fast Pitch competition.

THIS TOPIC IN A NUTSHELL:

Scott’s career background

His real estate journey

How Househappy came about

Syndication and 1031 exchange Ventures

What attracted him to the Syndication space?

Deal structure

The most valuable letter of the acronym of someone starting in real estate

About the Hotel Conversion Deal

Location and acquisition process

Conversion of the hotel to apartments & climate-controlled storage facility

Fundamentals and underwriting the deal

The real opportunity of this deal

How long does the conversion process take?

Challenges and opportunities encountered

Storage facility aspect

Asset management of actual units when completed

Target average annual returns

Housing and Demographics

Timelines and phases of this project

Connect with Scott

KEY QUOTE:

“The Deal is everything. Educating yourself and making sure you know what a good opportunity is. Finding it and having resources to find it whether it's your own efforts or people bringing them to you, that's where the biggest opportunity is.”

ABOUT THE WESTSIDE INVESTORS NETWORK

The Westside Investors Network is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.

The Westside Investors Network strives to bring knowledge and education to real estate professional that is seeking to gain more freedom in their life. The host AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management, and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndication.com.

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CONNECT WITH SCOTT FOUSER:

LinkedIn: https://www.linkedin.com/in/scott-fouser-4529895

Website: https://househappy.com

CONNECT WITH US

For more information about investing with AJ and Chris:

· Uptown Syndication | https://www.uptownsyndication.com/

· LinkedIn | https://www.linkedin.com/company/71673294/admin/

For information on Portland Property Management:

· Uptown Properties | http://www.uptownpm.com

· Youtube | @UptownProperties

Westside Investors Network

· Website | https://www.westsideinvestorsnetwork.com/

· Twitter | https://twitter.com/WIN_pdx

· Instagram | @westsideinvestorsnetwork

· LinkedIn | https://www.linkedin.com/groups/13949165/

· Facebook | @WestsideInvestorsNetwork

· Youtube | @WestsideInvestorsNetwork