All Forum Posts by: Aaron T.
Aaron T. has started 43 posts and replied 774 times.
Post: Thinking about buying an old elementary school-turn into hostel
- Developer
- Aguada, PR
- Posts 923
- Votes 278
Originally posted by @Robert Schimming:
@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.
thanks brother. that link to the house of trestles is awesome. I am book marking that if we decide this project is for us. I like the wall art and the whole vibe, which is what we were going for.
I will make this a side project and start running numbers on things, to see if we would even be in the ball park, but honestly just having something like this, would have a draw all of its own, due to how unique it is.
Post: Thinking about buying an old elementary school-turn into hostel
- Developer
- Aguada, PR
- Posts 923
- Votes 278
Originally posted by @Kat Hussey:
@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.
Marketing is a function of any business. if your business draws people organically, then good. If not, then you should market and turn those into conversions. remember, any dollar spent that gets a dollar in return just made your marketing free.
Post: Thinking about buying an old elementary school-turn into hostel
- Developer
- Aguada, PR
- Posts 923
- Votes 278
Originally posted by @Kent Leach:
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!
Kent, I was also thinking about how the government would help. Especially if they hold the property, which I will find out.
i will connect with you to talk more about your project. I am sure you have a lot of reflections on what went well or things you did not think about.
If I can white board this project, essentially as far as I have gotten, it could have a draw to it, not only for the novelty, but a following for those that like feel of something between a hotel and hostel.
Post: Thinking about buying an old elementary school-turn into hostel
- Developer
- Aguada, PR
- Posts 923
- Votes 278
Originally posted by @Louis Zameryka:
@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
Louis, we are not currently living in PR, but have plans to move there next year. We are not stuck on a hostel, but more looking at how we can possibly do Small multi units With locked doors per classroom And shared common areas.
Right now all this stemmed from running across the listing and posting on here to see if anyone had any ideas or reference points.
Post: Thinking about buying an old elementary school-turn into hostel
- Developer
- Aguada, PR
- Posts 923
- Votes 278
Originally posted by @Peter Tomeczko:
@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!!
Peter, this is awesome and exactly what I am looking for; to see and talk to others who have done it. Thank you
Post: Thinking about buying an old elementary school-turn into hostel
- Developer
- Aguada, PR
- Posts 923
- Votes 278
Originally posted by @Ramon Morales:
@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.
Ramon, thanks for the tips. I will drop those in my one note.
Covid won't last forever. once they realize its government controlled.
I am thinking this area would be to the surfer crowd and those that are looking to pass through the area and not looking for a full blown hotel.
I stayed recently in this cool little place. its a like a hostel, but has closed and locked rooms. these are roughly 5x7 rooms with bunks. imagine putting 4-9 of these pods in each of those class rooms in the school.
Post: Thinking about buying an old elementary school-turn into hostel
- Developer
- Aguada, PR
- Posts 923
- Votes 278
Originally posted by @Zachary Ray:
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.
Everyone in PR has a palm up to collect money from you from SJU to the municipality. they will get theres. construction down there is not as expensive as the states. some things are higher and lower.
Post: Thinking about buying an old elementary school-turn into hostel
- Developer
- Aguada, PR
- Posts 923
- Votes 278
Originally posted by @Michael Ablan:
@Aaron T. Becareful of asbestos and losing any grandfather protections from doing any significant gutting. You could get sunk instantly if you were forced to do a proper abatement
Buildings on the island are all concrete structures. I dont think we will run into much asbestos in there.
Post: Thinking about buying an old elementary school-turn into hostel
- Developer
- Aguada, PR
- Posts 923
- Votes 278
Originally posted by @Michael Baum:
Ahhh @Aaron T., that is interesting. Puerto Rico is someplace that I don't know much about. Still, it sounds like a neat project, but it could get expensive real quick.
We have a Airbnb not far from this location already.
Post: Thinking about buying an old elementary school-turn into hostel
- Developer
- Aguada, PR
- Posts 923
- Votes 278
Originally posted by @Lauren Kormylo:
Thanks for the link. We have a brewery here in Colorado Springs where they turned it from a school into a brewery.
http://ivywildschool.com/