HoldCo Builders How I Bought Real Estate Which Makes Me $1.7 Million Per Year | Ben Wolff Interview
Feb 18, 2024
Ben Wolff, co-founder of Oneira, has transitioned from a tech consultant to a real estate mogul, managing over $65 million in assets. He discusses his impressive journey from $30,000 in debt to generating $1.7 million annually. With industry-leading margins of 52-55% NOI, he reveals how social media helps secure direct customer relationships and enhance bookings. Ben emphasizes the importance of quality, sharing lessons learned, and the power of public engagement in building a brand. His insights exemplify innovative strategies for success in hospitality.
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Ben's Early Real Estate Pivot
- Ben Wolff started with debt and little money but leveraged early real estate leases to pivot into Airbnb management.
- His business grew from a few units in 2018 to a couple hundred managed properties by the end of 2019 across multiple cities.
Strategic REIT Partnership
- Ben sold majority interest in Onera Fredericksburg to Summit, a hotel REIT, while keeping management and minority stake.
- They planned expansion with REIT assistance, blending equity and mezzanine debt to scale.
Airbnb Hosts Disrupt Hotels
- Traditional hotels lack innovation and face disruption by tech-savvy Airbnb hosts entering hotel space.
- New hospitality operators bring creativity, ownership of customer experience, and digital marketing expertise.
