There is Not Enough Affordable Housing.
HOTEL CONVERSION SPECIALISTS
WHAT WE DO FOR INVESTORS
We source our deals with our proprietary off-market deal flow. Then we underwrite, negotiate, and secure debt on them. We purchase our deals with investor funds.
We navigate the complex legal process required for converting a hotel into an apartment. We meet with the city, we hire the contractors, and we oversee all rehab.
We install high quality property management, create and execute asset management plans, and handle all things administrative. These investments are truly passive.
We distribute cash flow monthly to our investors. We also plan and execute strategically timed refinances and exits to maximize profits.
Why Hotel Conversions?
A massive housing shortage and increased competition in the multifamily investment market have driven the prices of apartment complexes extremely high. At the same time, the hospitality market has been volatile in recent years with COVID, staffing shortages, inflation, and recession fears. As a result, many hotels can be purchased for much cheaper prices than similarly sized apartment buildings.
Buying hotels and converting them into apartments allows us to end up with multifamily assets for significant discounts compared to buying buildings that were already multifamily assets.
MEET OUR TEAM
Alexander Cartwright, PhD
FOUNDER & MANAGING PARTNER
Alex conducts macroeconomic analysis on target markets and conducts the underwriting for Vilicus Capital offerings. He has completed dozens of multifamily transactions - all of which have delivered investors cash on cash returns of 18% annually or higher. Alex has also previously worked as a consultant with one of the biggest mobile home owners in the country.
Alex is an Associate Professor of Economics at Ferris State University where he teaches classes on Managerial Economics, Economic Growth, and International Business. His Economics research has been published several scholarly outlets, including The Cambridge Journal of Economics. Alex is an affiliated scholar with multiple Think-Tanks and has served as an Economic advisor to congressional candidates in Peru.
Alex received a B.S. in Mathematical Economics from Hampden-Sydney College where he graduated Phi-Beta-Kappa, Summa Cum Laude and first in his major. He earned an M.A. and PhD in Economics from George Mason University where he was the F.A. Hayek Fellow in the program for advanced study of Philosophy, Politics, and Economics at George Mason University’s Mercatus Center.
CO-FOUNDER & VICE PRESIDENT
Joseph plays a key role in high-level strategy and oversees all marketing at Vilicus. He bought his first rental property at age 23. As a software developer Joseph also runs Vilicus' in-house incubator, which produces software products. These revenue streams allow us to chase larger real estate deals faster, as well as invest personally in those deals.
He is the developer behind the marketing software RadiusMail. He has also written his own programming language that was designed for business intelligence and AI.
Joseph writes about entrepreneurship, technology, and other topics at joseph-bowen.com.
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