Jake Wurzak @JWurzak Twitter profile

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Jake Wurzak

5 months

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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Jake Wurzak

@JWurzak

6 months

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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Jake Wurzak

@JWurzak

6 months

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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Jake Wurzak

@JWurzak

1 year

Built hotel: $54MM 7 years later Sold hotel: $95MM

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Jake Wurzak

@JWurzak

8 months

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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Jake Wurzak

@JWurzak

4 months

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

2 years

Built hotel: $54MM 7 years later Sold hotel: $95MM

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Jake Wurzak

@JWurzak

9 months

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

2 months

When I go to New York City, I stay in a different hotel each night. Highly recommend.

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Jake Wurzak

@JWurzak

11 months

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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Jake Wurzak

@JWurzak

8 months

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

3 months

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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Jake Wurzak

@JWurzak

8 months

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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Jake Wurzak

@JWurzak

8 months

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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Jake Wurzak

@JWurzak

10 months

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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Jake Wurzak

@JWurzak

1 year

We just won renovation of the year from @Marriott . Incredibly proud of my team from taking an ugly Sheraton to the nicest property in Reston , Virginia. Check out these pics!

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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

8 months

What city is the NEXT Austin?

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Jake Wurzak

@JWurzak

8 months

Master planned perfection.

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Jake Wurzak

@JWurzak

6 months

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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Jake Wurzak

@JWurzak

10 months

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

8 months

Top Answers: Raleigh Chattanooga Austin Tampa Jacksonville Greenville SLC Boise

Jake Wurzak

@JWurzak

8 months

What city is the NEXT Austin?

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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

7 months

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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Jake Wurzak

@JWurzak

2 years

Trying to find a compelling reason to invest outside of Florida, Texas, Carolinas, Tennessee, Arizona.

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Jake Wurzak

@JWurzak

6 months

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

2 years

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

Is there a NEXT Austin or Nashville? If you know please comment below.

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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

11 months

Built hotel: $54MM 7 years later Sold hotel: $95MM

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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

We just won renovation of the year from @Marriott . Incredibly proud of my team from taking an ugly Sheraton to the nicest property in Reston , Virginia. Check out these pics!

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Jake Wurzak

@JWurzak

2 years

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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Jake Wurzak

@JWurzak

2 years

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

What’s your favorite hotel? Me: Brush Creek Ranch in Wyoming 🤠

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Jake Wurzak

@JWurzak

4 months

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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Jake Wurzak

@JWurzak

2 years

Our new hotel 🏗️ in St. Pete Florida is looking 🚀. Coming Feb 2024

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Jake Wurzak

@JWurzak

1 year

Corporate real estate folks are so different than entrepreneurial real estate peeps.

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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

🚨 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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Jake Wurzak

@JWurzak

1 year

For anyone looking to break into real estate, hospitality investing, or buying their first STR. Watch and Listen to this.

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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

9 months

@BillAckman @Harvard I second this.

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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

Trying to find a compelling reason to invest outside of Florida, Texas, Carolinas, Tennessee, Arizona.

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Jake Wurzak

@JWurzak

2 years

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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Jake Wurzak

@JWurzak

2 years

Incredibly pumped about our new development #Moxy hotel in St. Pete Florida. Breaking ground this quarter, our new hotel will completely transform the #edge district and the downtown skyline.

New Marriott hotel set to break ground in St. Petersburg’s Edge District

The project’s South Florida developers have scaled back plans for a food hall and office space, but the Moxy hotel is a go.

www.tampabay.com

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Jake Wurzak

@JWurzak

8 months

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

10 months

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

- 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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Jake Wurzak

@JWurzak

1 year

What’s the biggest opportunity in real estate investing right now?

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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

Pro tip: You meet amazing people at ultra luxury hotel bars. Have a story?

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Jake Wurzak

@JWurzak

1 year

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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111

Jake Wurzak

@JWurzak

1 month

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

2 years

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.

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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

Is there a NEXT Austin or Nashville? If you know please comment below.

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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

5 months

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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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

7 months

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

Chris Nelson 🇺🇸 🏝

@ReOpenChris

7 months

‼️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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Jake Wurzak

@JWurzak

2 months

Jon Gray is one of the most brilliant guys in real estate - Blackstone just bought a $10B apartment portfolio, and more relatable to DoveHill, Blackstone just bought the W Fort Lauderdale. The former is interesting because, as we discussed, it signals conviction that we have

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Jake Wurzak

@JWurzak

1 year

My buddy, Scott Moss, scaled his firm, Moss Construction, to over $3B in annual revenues from >$100M. He credits @HarvardHBS 4 + 2 Strategy as one of the keys to his growth 🚀 The study delineated FOUR primary practices as essential for achieving this success: 1. A

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Jake Wurzak

@JWurzak

1 year

In 2019 we converted the Jeremy Hotel to the 1 Hotel West Hollywood. The design was inspired by Belgian minimalism and wabi sabi. We completely transformed the arrival experience by incorporating a fantasy landscape moment. Here’s how we did it.

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Jake Wurzak

@JWurzak

1 year

In conversation with a top leader at a Billion + dollars RE PE Fund. “Our debt fund is yielding 10% on multi, 14% on hospitality. Any equity deals we do need to be well north of that.” This is a moment in time.

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Jake Wurzak

@JWurzak

2 months

Best design advice I’ve heard: “don’t fight the building”

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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

1 year

No high-net-worth person I’ve worked with wants to read a 60-page investment memo. Writing the right investment memos for the right audience is a skill that I think is underrated and needs to be perfected over time.

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Jake Wurzak

@JWurzak

2 months

We bought our first industrial deal! Isn’t she pretty? While DoveHill has been a hospitality-focused, vertically integrated investment firm, I've been eyeing Class B industrial spaces in East Broward and Palm Beach counties for a while now. Since 2004, my residency in South

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Jake Wurzak

@JWurzak

1 year

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.

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Jake Wurzak

@JWurzak

11 months

We just won renovation of the year from @Marriott . Incredibly proud of my team from taking an ugly Sheraton to the nicest property in Reston , Virginia. Check out these pics!

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Jake Wurzak

@JWurzak

1 year

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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Jake Wurzak

@JWurzak

2 years

Landscaping is often underestimated and an afterthought by most owners, developers, and operators. This is a mistake. A quick 🧵 on how we transformed the architecture and the experience of one of the most expensive pieces of real estate in West Hollywood.

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Jake Wurzak

@JWurzak

1 year

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:

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Jake Wurzak

@JWurzak

1 year

Owning a resort is my long term goal. What area of the country is untapped and ready for a genrrational resort development?

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Jake Wurzak

@JWurzak

1 year

The Dalmar is a great example of the benefits of being vertically integrated because we created a brand in Fort Lauderdale from scratch.

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Jake Wurzak

@JWurzak

1 year

We bought a hotel 6 months ago at. 9.5 cap. The purchase included a cell tower lease. We then spoke to some tower companies and sold the lease to them at a 4% cap. That’s arbitrage for you.

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Jake Wurzak

@JWurzak

1 year

1/ Want to create a memorable guest experience for your Hotel or STR without breaking the bank or adding operational costs? Focus on the bedroom & bathroom - two key spaces that'll significantly impact your guests' stay. Let's dive into some cost-effective upgrades.

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