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 🧵



1/ The idea is simple, yet powerful: Cut out the middle man, and unlock the deals that big players enjoy.

Go direct, and build relationships with the manufacture reps. The upside is in putting in the work.

With careful execution, you could save millions over time!

The biggest opportunity to create a hospitality brand is in the blank space after 4-star and 5-star hotels.

Let me explain. The global luxury hospitality industry is undergoing a transformation. Once considered a relative niche portion of the broader lodging industry, luxury hotels have exploded in tandem with rising global wealth and consumers’ increased prioritization on immersive travel.

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.

🧵 We were selling a hotel.

The location was A+, the performance was stellar, and there was tremendous interest. The numbers were big, massive.

One of the high bidders approached us to stay in the deal for 25% and manage.

🚨New Podcast Ep🚨

I had the absolute pleasure of heading to Fort Wort to join @fortworthchris on his show, The Fort. We cover the ins and outs of Hospitality, and he was gracious to let me share the interview. Check it out below. YouTube:

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.

learn.jakewurzak.com

If you are an aspiring or seasoned hospitality investor 👇 this course is for you.

Learn how to measure, structure and finance deals, operate with confidence, minimize risk, and gain a competitive edge in this comprehensive masterclass.

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 🧵 1/ The idea is simple, yet powerful: Cut out the middle man, and unlock the deals that big players enjoy.

Go direct, and build relationships with the manufacture reps. The upside is in putting in the work.

With careful execution, you could save millions over time!

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.

👇 Prioritize Experience Over Price

In major construction projects, subcontractor pools tend to be similar, leading to minimal price variation. Choose experience over price, select the right GC early, and work with them through pre-construction instead of focusing on bidding.

Knowing how to underwrite a hospitality investment will allow you to compound capital in an asset class many that can outperform most others.

I did a solo show on Masters of Moments discussing...

- Deal process at DoveHill
- How our model works
- Capital Structures
- Mistakes Apple Podcasts: 🎧
apple.co/3Vf6AUI

For two years we have been strategizing about launching our own internal revenue management team.

We did it, and we are about 6 months in.

Wow, what an impact this team is making. 💵

For those in Hotels or STR that don't know what revenue management is - READ NOW 👇 But what is revenue management, and how does it apply to hotels and short-term rentals?

Let's dive in.

On the Masters of Moments podcast, I had the privilege of chatting with Scott Moss, CEO of Moss Construction (the largest contractor in Florida).

Scott shared a @HarvardHBS study that showcased the 4 + 2 Strategy for enduring business success. 🚀

Discover the secret below👇 The study delineated FOUR primary practices as essential for achieving this success:

1. A lucid, well-communicated strategy
2. A simple, easily conveyed structure
3. Consistent execution aligned with customer expectations
4. A robust link between strategy and culture

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,. Remember, this is a detailed modeled designed to help us focus on deals we're genuinely interested in and streamline the decision-making process.

Our model is built in Excel, with various tabs to organize and present the necessary data.

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 🧵👇🏻 1. If you are not a hotel developer, partner with one. Not only will they save you from 🤯 but most banks will not lend without an experienced hotel developer and operator on the team.

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.

learn.jakewurzak.com

If you are an aspiring or seasoned hospitality investor 👇 this course is for you.

Learn how to measure, structure and finance deals, operate with confidence, minimize risk, and gain a competitive edge in this comprehensive masterclass.

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? 👇 Purchase Price Allocation study.

What is it?

A PPA is a multi-disciplinary analysis that separates and itemizes the real estate from the tangible personal property and intangible value requisite in the pending sale.

“If you don’t know how many square feet are in an acre, go figure it out, and until then, you have no business being in real estate.”This foundational comment formed the basis of my real estate investing career —a quick 🧵 on what I learned for #retwit . 👇 When I was 16 years old, I decided to learn about real estate investing first hand by buying a house, fixing it, and flipping it (this was before there were an annoying amount of TV shows on the topic).

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 🧵 1/ The idea is simple, yet powerful: Cut out the middle man, and unlock the deals that big players enjoy.

Go direct, and build relationships with the manufacture reps. The upside is in putting in the work.

With careful execution, you could save millions over time!

Most of the STR design interiors I see are uninspired.

By drawing inspiration from boutique hotels, STR owners can improve their revenue performance and differentiate their properties.

Here are some design tips that can help you create magical moments in your STR property: Mix and match styles: Don't be afraid to mix and match furniture styles, textures, and materials to create an eclectic and interesting look. Consider combining modern and vintage pieces, metal and wood accents, and various fabrics and patterns to add depth and interest.

Are you open or are you closed? In evaluating risk vs upside I decided early on to be open to relationships, open to share ideas and open to learn from others. Some thoughts for #retwit 👇🏻 I believe in karma and my approach is to learn, support, share and most importantly not be an ego filled asshole. In some real estate circles, believe it or not, this is actually contrarian.

If you have liquidity and are looking to compound your net worth in an asset you can see, touch, and easily understand, then nothing is better than investing in real estate.

This 🧵 will show new and experienced Limited Partners (LPs) how to do it and what to look out for. The Structure

General Partners (GPs) typically raise capital on a deal-by-deal basis or a fund that invests in multiple assets.

The GPs raise capital from investors / LPs (often 90% investors; 10% GP) and share in the potential upside (performance fee / promote).

In my view it’s important not to negotiate on asset/investment management fees.

These are integral to supporting our business and paying overheard for our investment firm.

Negotiating on this is in many cases short term thinking.

Some thoughts…🧵 1. It’s ok for your investment firm to be profitable. That’s the point of starting a business and you won’t survive long term if you aren’t.

People on the team won’t stay.

You will never be able to keep up.

Sourcing new opportunities will suffer.

Many developers enter into Guaranteed Maximum Price construction contracts.

What people don't fully appreciate is that the price is "Guaranteed".

Here are some reasons why and what to look out for. In a guaranteed maximum price (GMP) construction contract, the contractor agrees to complete the project for a price that is not to exceed a specified amount, regardless of any cost overruns that may occur.