All Forum Posts by: Aaron T.

I think that he meant that the narrative and response is govt controlled. Like how they are restricting our movements and creating policies that aren't really based in science. Not that COVID19 is a hoax or a govt plot. 

I like the Idea, SOunds interesting , cool and unique.. ( dont worry about the naysayers) the rebels and unique changed the world :) ..   things to consider,, check with the city and zoning and check is ok to treat it as a short term rental .  this will be like a cool airbnb type of deal or hotel . .. I guess that if you have the money and commitment ,, it could work..  just consider plan b/c and D :) just in case. ;)  Blessings

If designed and done well - this could be an amazing project!

For the marketing aspect.. It looks pretty colorful already and if it were me, I would definitely build on the colorful, tropical vibe and create a lot of instagrammable moments throughout the space with murals, funky seating, beautiful bathrooms etc.

I’ve also seen content about projects very similar to this on TikTok, so building out a platform on there would be a great way to showcase your project/property to the masses.

Now that Im thinking about it, my head is swimming with ideas, there’s tons of possibilities to market this out!

@Aaron T.

Check out www.houseoftrestles.com

... is a Boutique Hotel & Hostel in San Clemente, CA. A surfer town in Orange County. It sounds like the same clientele that you would be trying to attract.

@Aaron T.

As a consumer, I think it's a really cool idea and I would enjoy staying there once it's fixed up.

As an investor, make sure to do all your due diligence. I have a feeling getting people to stay here will cost more in marketing than your average STR listing would.

Aaron, not sure if Puero Rico gets access to Federal Tax Credits or not but I'm doing a LIHTC deal in Tennessee where we are converting an old furniture store to 42 units. My architect is converting a old high school into 38 units. People will live in it and the government may help you do it!

@Aaron T.

I’ve stayed in similar type conversions in Europe. Also their are college centric brands like Graduate and Study making this sort of thing work.

You should consider speaking to a small hotel development company with a soft brand. They might have ideas for it beyond a hostel but not so hotel.

Pod Hotels out of NYC

Dream Hotel Group

Sydell

Are you in PR yourself or have someone you partner with there. This would be a big project if you want to get the best roi

@Aaron T.

My wife and I stayed at a school converted into an air b&b. It was interesting, cool, weird and we would prob do it again. Each room got a skeleton key, breakfast delivered, separate bathrooms and vintage decor. The owner was very nice. Reach out to him. He might be able to give you some advice.

https://www.davieschoolinn.com

Best of luck!!

@Aaron T.

I love hostels. I actually worked at a hostel for 10 years. Started as a front desk agent/bartender and worked my way up to general manager.

Covid is the only thing that would worry me but other than that, in the right location, a hostel can be extremely profitable. My company would convert hotels to hostels every year since 2016.

A decent low cost breakfast, luggage storage, safety boxes, daily activities such as bar outings, outgoing staff to engage with the guests, and a good cleaning department will have you as top hostel on Hostelworld in no time.

Policies in place like “proof of forward travel” will do wonders in allowing you to maintain a travelers ambiance amount your visitors. Our hostels had a “travelers only/no locals” policy for the accommodation side but the locals were absolutely welcomed at the bar/restaurant.

It’s all about the ambiance, good vibes among the coolest of travelers.

Please feel free to connect if I could be of any insight.

Great idea. My thought would be check all the licenses and rental agreements you would need to function as a hostel just to make sure nothing on that end will stop you or break the bank. Construction might be a little on the high end but I'm sure you already ran those numbers. Best of luck to you.