Jake Wurzak
@JWurzak
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Following
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Media
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Statuses
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The Hotel Investor , $1.5 billion + Hotel AUM 🚀 | CEO of DoveHill - Own, Develop, Manage | Masters of Moments Podcast | YPO’er
INVEST | COACHING | PODCAST 👉
Joined January 2021
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What’s the best family resort in the United States?
Here is my top 3… plus a bonus one
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What’s the best family resort in the United States?
Here is my top 3… plus a bonus one
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Turning a gas station ⛽️ into an amazing restaurant is always a good idea.
The vibe hits to a good ‘ole American nostalgia. Here is one of my faves.
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People pay $5,000 per night to stay at Amangiri.
It generates more revenue per room than any other hotel in the USA.
Not surprising my conversation on the podcast with the Owner, Homi Vazifdar, was our most popular episode.
Check it out.
0:00 - Homi’s journey into Real
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Turning a gas station ⛽️ into an amazing restaurant is always a good idea.
The vibe hits to a good ‘ole American nostalgia. Here is one of my faves.
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Verdicts out.
This is probably the best hotel in the country.
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Name a better place to live than Fort Lauderdale.
- water lifestyle
- amazing airport
- in between miami and palm beach
- rocking economy
- amazing weather
- great sports teams
- perfect for families
It’s really hard to beat.
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Millions in savings if you buy construction materials direct for your real estate projects.
I learned how when I started flipping houses, and We are still doing it with a $1.5 billion + track record.
Here's the strategy for how we buy this stuff 🧵
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For anyone looking to break into real estate, hospitality investing, buying their first STR or building a micro resort.
Here's my updated list of what to read, watch and listen to.
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For anyone looking to break into real estate, hospitality investing, buying their first STR or building a micro resort.
Here's my updated list of what to read, watch and listen to.
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I turned a fallen tree into the front desk at the 1 Hotel West Hollywood.
The stones in the background are reclaimed from France.
No check in experience in LA is like this one. We focused on being unique and have been rewarded.
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Opening on Thursday.
Moxy St. Petersburg, Florida
This is one of our bests!
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When I go to New York City, I stay in a different hotel each night.
Highly recommend.
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Bought a cell tower for $275,000 (9.5 cap)
6 months later
Sold cell tower for $650,000 (4 cap)
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People pay $5,000 per night to stay at Amangiri.
It generates more revenue per room than any other hotel in the USA.
Not surprising my conversation on the podcast with the Owner, Homi Vazifdar, is our most popular episode.
Check it out. 🔗👇
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Just stayed at
@FourSeasons
Walt Disney World Resort.
I paid over $2,000 per night - and probably would have paid more.
Here's the story of this extraordinary hotel, where badass developers created over $300 million in value.
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For anyone looking to break into real estate, hospitality investing, buying their first STR or building a micro resort.
Here's my updated list of what to read, watch and listen to.
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For anyone looking to break into real estate, hospitality investing, buying their first STR or building a micro resort.
Here's my updated list of what to read, watch and listen to.
4
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Bought a cell tower for $275,000 (9.5 cap)
6 months later
Sold cell tower for $650,000 (4 cap)
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And a bonus… although not a resort.
Brush Creek Ranch, Wyoming
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We turned a fallen tree into the front desk at the 1 Hotel West Hollywood.
The stones in the background are reclaimed from France.
No check in experience in LA is like this one. We focused on being unique and SH Group creates magic 🪄 every day
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Stayed at the Ritz Paris this summer.
$7,500 per night to swim in this pool - worth every penny.
Here is the ownership story behind one of the greatest hotels in Europe.
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Bought a cell tower for $275,000 (9.5 cap)
6 months later
Sold cell tower for $650,000 (4 cap)
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Millions in savings if you buy construction materials direct for your real estate projects.
I learned how when I started flipping houses, and We are still doing it with a $1.5 billion + track record.
Here's the strategy for how we buy this stuff 🧵
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@megynkelly
@ABC
Endless fact checks on Trump (which all seem bias) and none on Harris.
Megyn, what’s your best question for Harris?
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One of the most ingenious real estate strategies is the fractional model.
Why?
Imagine a developer erecting an ultra-luxurious condominium in a coveted resort area, akin to Aspen's ski slopes.
The innovative aspect here is the division of ownership into fractional shares,
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And a bonus… although not a resort.
Brush Creek Ranch, Wyoming
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Most real estate investors pay far too much in property tax because they don’t properly allocate their purchase price.
We bought a $40,000,000 hotel but the real property was only worth $27,000,000.
The property tax is based on the smaller number.
How? 👇
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One of my most successful mentors told me that peak business performance is at age 50.
- kids out of the house, time to focus
- significant experience… wins, losses
- track record
- peak relationship value
- more financial resources
Is this a ridiculous idea?
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We once got screwed on a deal by our Billionaire partner.
The mistake was assuming we had the same objectives because we were partners.
We didn't - he had a completely different agenda.
Here's the story.
🧵
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I decided to create a Masterclass on Hospitality Real Estate Investing.
Nothing like this ever existed when I started my career, and it still doesn't, so I decided to create my own.
If you are an aspiring or seasoned hospitality investor 👇
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We need to talk more about investing in hospitality.
It’s a fantastic asset class in an exciting industry that is fun to participate in.
If you like to touch and feel your investments, no other real estate investments offer the type of experiences (and returns) hotels do.
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Steve Schwartzman founded Blackstone at the age of 38.
Remember that.
- never to late to start a business
- experience will lead to great success
- dream big
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Millions in savings if you buy construction materials direct for your real estate projects.
I learned how when I started flipping houses, and We are still doing it with a $1.5 billion + track record.
Here's the strategy for how we buy this stuff 🧵
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Today presents an amazing opportunity to buy your first hotel.
- original owner’s kids don’t want to own
- seller financing is available
- experiential travel is not going away
There are some amazing inns and motels located in beautiful places and there is an opportunity to
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I invested only $10,000,000 to control over $600,000,000 of real estate.
Including the Ace Hotel Brooklyn.
How? Preferred Equity.
A few weeks ago, I recorded a Zoom call I hosted, sharing the secrets, process, and structure of how we do this.
Check it out below. 👇
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Trying to find a compelling reason to invest outside of Florida, Texas, Carolinas, Tennessee, Arizona.
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One upping
@realEstateTrent
Bought Hotel: $242.5 million in 2006
Sold Hotel: $85 million in 2022
Not our deal. Hilton Times Square… peak to trough. Got to love 💎 🖐️
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People with less than $250 million AUM should not be selling courses online.
Not enough time or money at risk to develop the lessons and experience worth paying for.
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Hi 👋
I'm Jake Wurzak, CEO of DoveHill Capital Management.
I run a vertically integrated hospitality platform - owning, operating, and developing amazing hotels in top markets.
I started posting a few months ago, so I figured its a good time to introduce myself.
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The best bed in the business is the
@FourSeasons
set up.
The ROI is unmatched. 💵
If you want to create ravings fans and new found profits for your hotel or STR then do this 👇:
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What is the thing developers and real estate owners to often under appreciate that can add tremendous bang for your buck value?
Me: Landscape
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Millions in savings if you buy construction materials direct for your real estate projects.
I learned how when I started flipping houses, and We are still doing it with a $1.5 billion + track record.
Here's the strategy for how we buy this stuff 🧵
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I'm Unveiling the Secrets of Our Hotel Investment Underwriting Model.
In hospitality investing, an efficient and effective underwriting model is essential to identifying and pursuing the right deals.
I'll walk you through our comprehensive hotel investment model,.
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A group we know used $24M of 1031 💵 to buy a $100M multi deal in Florida.
Seems they saved ~$4M in tax.
I think they over paid by about $20M.
Tell me what I am missing.
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Is there a NEXT Austin or Nashville?
If you know please comment below.
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Going to law school , becoming a lawyer and NEVER practicing law was probably the best investment I ever made in my business career.
Who has done the same?
Who wishes you did this?
Who vehemently disagrees with me?
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If you are a GP, your LP is your customer and what you sell is compounding growth.
Here are some crucial things any emerging GP needs to consider when raising LP capital.
A little 🧵:
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We recently broke ground on a $60 million hotel and retail development in downtown St. Pete Florida. It’s also an OZ which is a bonus 💰!
Building a hotel is hard work. If you do it right you can compound your basis.
We have made some mistakes along the way and learned. A 🧵👇🏻
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Just stayed at
@FourSeasons
Walt Disney World Resort.
I paid over $2,000 per night - and probably would have paid more.
Here's the story of this extraordinary hotel, where badass developers created over $300 million in value.
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4
145
What’s your favorite hotel?
Me: Brush Creek Ranch in Wyoming
🤠
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See a lot of deals from other GPs that go like this.
Avg. Cash on Cash Yield: 5% annually
• Gross IRR: 21%
• MOIC: 2.2x
• Hold Period: 4 Years
When you see this, here is what you need to know.
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Our new hotel 🏗️ in St. Pete Florida is looking 🚀.
Coming Feb 2024
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Corporate real estate folks are so different than entrepreneurial real estate peeps.
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The biggest opportunity to create a hospitality brand is in the blank space after 4-star and 5-star hotels.
Let me explain.
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🚨 Great opportunity for emerging real estate operators:
St. Petersburg, FL, and Washington, DC, recently approved zoning changes to allow small multifamily properties (2–4 units) in areas previously zoned for single-family homes.
Supply + Lower Entry Point = Great Start
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For anyone looking to break into real estate, hospitality investing, or buying their first STR.
Watch and Listen to this.
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Owning real estate is no longer just for institutions and the ultra wealthy.
We just lowered our investment minimums to $25k on two of our recent investments.
So grateful to have so many new investors of DoveHill.
Truly the future.
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The Costliest Mistake I Made in Real Estate - Hiring the Wrong General Contractor
A thread on the lessons learned and the domino effect of consequences that followed. If you're in real estate, this is a must-read.
👇
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If you are a GP, your LP is your customer and what you sell is compounding growth.
Here are some crucial things any emerging GP needs to consider when raising LP capital.
A little 🧵:
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Being an early mover to a growing market, in this case St. Pete takes grit , determination and vision.
We are celebrating the topping off of our Moxy St. Pete today which is one part of a larger mixed use project.
When Hines decides to build this next door. 💰 😃 ⭐️.
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Trying to find a compelling reason to invest outside of Florida, Texas, Carolinas, Tennessee, Arizona.
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Sean built a $5 Billion hotel portfolio in less than 10 years.
His firm, Trinity Investments, is now global and owns trophy assets most would never sell.
Hear his story.
0:30 - Sean's background and career
5:26 - Investing in Luxury Hotels
6:57 - Technology and Labor in the
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Introducing the "Back of Napkin" Hotel, Motel and STR Investment Approach
Are you looking to invest in a hotel or STR but don't want to waste time on complex underwriting?
Here's a quick and easy method to evaluate a hotel deal.
I even attached a simple model.
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Creating a successful memo is critical to raising capital from high-net-worth investors.
Most of the ones I have seen are terrible.
Here is what I have learned the past ten years raising over $100 million from high net worth capital.
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Just completed a $20 million equity raise.
- harder than I thought
- longer than I thought
- better partners and investors than I thought
- more deal upside than I thought
- more new investors than I thought
That sums it up for the capital raise environment.
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Tomorrow on the Pod I'm having Homi Vazifdar, the mind behind this absolutely gorgeous resort: Amangiri.
We break down the entire process for developing this resort, how Homi is shaping the future of luxury resorts, and a ton more.
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See a lot of deals from other GPs that go like this.
Avg. Cash on Cash Yield: 5% annually
• Gross IRR: 21%
• MOIC: 2.2x
• Hold Period: 4 Years
When you see this, here is what you need to know.
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10
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Broke Ground 2 years ago, now we’re opening.
What a feeling.
I’m just going to say it. This is going to be one of the top Moxy hotels in the country.
Thanks to our partners and investors!
Opening on Thursday.
Moxy St. Petersburg, Florida
This is one of our bests!
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- Buy the “non branded” version of the mattress - the Simmons Napa Black.
- Buy linens from Sferra
Promote the best bedding and mattresses.
While your competitors are looking to save money in places that don’t matter, spend money in places that generate ROI.
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Californians are like frogs in boiling water.
The heat is gradually getting turned up but no one realizes and no one jumps out of the boiling pot.
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What’s the biggest opportunity in real estate investing right now?
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Pro tip: You meet amazing people at ultra luxury hotel bars.
Have a story?
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We once got screwed on a deal by our Billionaire partner.
The mistake was assuming we had the same objectives because we were partners.
We didn't - he had a completely different agenda.
Here's the story.
🧵
8
8
111
We need to talk more about investing in hospitality.
It’s a fantastic asset class in an exciting industry that is fun to participate in.
If you like to touch and feel your investments, no other real estate investments offer the type of experiences (and returns) hotels do.
19
6
109
There are so many hoteliers with bad taste.
Often wondering what a property could be like if someone on the ownership team had any feel for design.
25
2
107
People pay $5,000 per night to stay at Amangiri.
It generates more revenue per room than any other hotel in the USA.
Not surprising my conversation on the podcast with the Owner, Homi Vazifdar, is our most popular episode.
Check it out. 🔗👇
9
8
112
Is there a NEXT Austin or Nashville?
If you know please comment below.
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Most LPs in real estate deals do not understand the distributions based on a cumulative return vs a non cumulative return.
This small difference can drastically change how a GP calculates the cash flow.
Here is what you need to know.
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Upsetting vote here in Fort Lauderdale.
I’ll share more over time, but in sum, the city commission approved significant variances for a NY developer at the expense of my property, The Dalmar Hotel.
The impact will be severe.
In my view it amounts to a quasi taking.
If you
‼️WATCH!
@JWurzak
, Owner of the Del Mar in Fort Lauderdale talks about how a developer from New York is getting special permission from the Fort Lauderdale Commission to build towers that will BLOCK the view of his rooftop swimming pool!
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145
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See a lot of deals from other GPs that go like this.
Avg. Cash on Cash Yield: 5% annually
• Gross IRR: 21%
• MOIC: 2.2x
• Hold Period: 4 Years
When you see this, here is what you need to know.
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9
108
Don’t underestimate the impact of good lighting.
The best design is nothing without beautiful lighting.
Bowie House, Fort Worth Texas 🤠
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3
106
Going to law school , becoming a lawyer and NEVER practicing law was probably the best investment I ever made in my business career.
Who has done the same?
Who wishes you did this?
Who vehemently disagrees with me?
29
4
107