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What is it like investing in a hotel? How is it different from investing in multifamily assets? Let\u2019s talk about it.\n\nJonathan Twombly was an accomplished Wall Street lawyer before he entered the world of real estate. In 2011, he became a full-time multifamily real estate investor and eventually created Two Bridges Asset Management, an LLC helping aspiring investors achieve capital growth through multifamily investment opportunities.\n\nJonathan was on our show hundreds of episodes ago, and a lot has happened in his business since then. In this week\u2019s episode, we talk about Jonathan\u2019s journey in the past eight years, including his challenges with investing in a different state, looking for new markets, buying a hotel, and so much more.\n\nOur conversation focuses on what it\u2019s like investing in a hotel, which Jonathan can give us a lot of insight into. We talk about gauging the potential value of a hotel (in terms of location and appeal), the underwriting process (and how it differs from multifamily investments), and the pros and cons of having a brand, among many other topics.\n\nKEY TAKEAWAYS\n1. Coming out of partnerships can help you realize what direction you want to go.\n2. Underwriting is more conservative for hotels than multifamily assets.\n3. In hotel underwriting, the two main variables are the cost per room and the expected average occupancy rate throughout the year.\n4. When it comes to boutique hotels, finding the right locations and catering to the existing markets is crucial.\n\nLINKS\nhttps://www.linkedin.com/in/jonathandtwombly/\nhttps://twobridgesmgmt.com/\n\nINVESTMENT OPPORTUNITIES\nWant to invest alongside Reed? All investments are 100% PASSIVE. Historical returns to accredited investors have ranged 18-31% annualized! To find out more, head on over to\u2026 \nwww.reedgoossens.com