Roundhouse is a fully integrated developer and operator of multifamily housing. Starting with a single condominium purchased amidst the financial crisis in 2009, we have since developed and acquired a portfolio of over 5,000 multifamily homes.Today, Roundhouse focuses exclusively on providing high-quality housing options in emerging cities across the Western United States. In order to deliver superior experiences to our employees and residents we have built a fully integrated service offering that spans the construction, property management, and design disciplines. On this episode, Jake & Casey discuss:Learning to structure long-term horizon dealsAvoiding competing with institutional capitalStructuring deals for acquisitions vs. developmentsThe advantages of being vertically integrated -Casey's 6-month sabbatical and how to have your company be successful without youConnect & Invest with Jake:Follow Jake on Twitter: https://twitter.com/jwurzakTake the Hospitality Investing Masterclass: https://learn.jakewurzak.com/Learn How to Invest with DoveHill: https://bit.ly/3yg8Pwo  Links: Roundhouse: https://rndhouse.com/Casey on Twitter: https://twitter.com/roundhouse208 Topics:(00:02:18) Casey’s RE Career in Southern California(00:11:40) The decision to pivot out of LA(00:15:54) Learning to structure long-term horizon deals(00:18:41) How do you avoid competing with institutional capital?(00:22:04) How have you figured out how to raise enough capital without going to someone with deeper pockets?(00:24:41) How do you structure deals when they are acquisitions vs. developments?(00:31:08) How often are you refinancing in order to return capital?(00:35:48) How do you think about Capex in multifamily over long hold periods?(00:43:38) How are you differentiating your high-end products?(00:47:00) What are the advantages of being vertically integrated?(00:50:59) What does enterprise value mean to you?(00:57:53) Are you at a point where the team can raise capital without you?(01:02:28) What was the scenario that led to you buying out your partner?(01:07:51) How do you ensure leadership values are being replicated across the business?(01:11:29) What was the biggest insight you gained from your 6-month sabbatical(01:19:44) Casey’s emphasis on design(01:22:18) What is your favorite hotel?

Channeling a passion for the hospitality industry, Mitch Patel established Vision Hospitality Group in 1997 on a foundation of values that guide the organization to this day.  With an unwavering commitment to excellence, Mitch oversees every aspect of the company, from investment procurement to the seamless execution of daily operations. Additionally, he oversees strategic development and implementation that has propelled Vision Hospitality Group to garner numerous awards within the industry.Links:Visionary Hospitality Group - https://www.vhghotels.com/Topics:(00:00:00) - Intro(00:00:55) - Mitch’s career and background in hospitality(00:20:40) - What did you learn about risk in the early days of your company and why did you only focus on the hotel asset class?(00:31:39) - How much do you attribute your success to your ability to develop vs. operate?(00:39:15) - How are you able to develop 10 hotels at once?(00:59:05) - Mitch’s passion for experiential and lifestyle hotels(01:20:06) - What are the non-negotiables you put in independent hotels?(01:29:54) - What concerns do you have for the future of hospitality?(01:44:10) - What is your favorite hotel?Connect & Invest with Jake:Follow Jake on Twitter: https://twitter.com/jwurzakTake the Hospitality Investing Masterclass: https://learn.jakewurzak.com/Learn How to Invest with DoveHill: https://bit.ly/3yg8Pwo

Scott Moss, CEO of Moss Construction, discusses setting goals, market changes, selecting new markets, client perceptions, managing subcontractors, strategy evolution, public vs private jobs, and vision leadership in the construction industry.

Selling weed is in Brady Cobb's blood. Using shrimp boats and a suntan lotion company as a cover, his father, Bill Cobb, ran one of the country's largest pot smuggling enterprises in the 1980s, until the federal government arrested him and shut down the $300 million ring during "Operation Sunburn." The younger Cobb became a lawyer and cannabis lobbyist before founding his own marijuana company, Bluma Wellness, which he sold in April 2021 to Cresco for $213 million in an all-stock deal. In November 2022, Cobb took his father's rich history of smuggling and launched Sunburn in Florida, a vertically integrated dispensary chain with nine retail shops. Sunburn is the 13th largest medical marijuana company in Florida, the company is valued at $105 million and will generate around $50 million in revenue by the end of its first year in operation.   Links: Sunburn Cannabis Brady on Instagram  Lefay Resorts Italy  Connect & Invest with Jake: Follow Jake on Twitter: https://twitter.com/jwurzak Take the Hospitality Investing Masterclass: https://learn.jakewurzak.com/ Learn How to Invest with DoveHill: https://bit.ly/3yg8PwoTopics:(00:00:00) - Intro(00:01:52) - From Law to Cannabis: Brady Cobb's Entrepreneurial Journey(00:02:37) - The Legacy of a Cannabis Smuggler: Brady Cobb's Inspirational Backstory(00:06:23) - Navigating the Complex World of Cannabis Business(00:13:31) - The Evolution of Cannabis Legislation and Its Impact on Business(00:26:26) - Inside the Operations: The Challenges of Running a Cannabis Company(00:31:14) - Understanding Cannabis: From Farming to Market Dynamics(00:37:58) - CBD vs. THC: Demystifying Cannabis Components(00:40:24) - Exploring the Complex World of Cannabis(00:41:35) - Personal Anecdotes and Preferences in Cannabis Consumption(00:42:10) - Innovations and Partnerships in Cannabis Beverages(00:44:28) - The Significance of Culture and Community in Business(00:48:27) - Security Challenges and HR in the Cannabis Industry(00:59:17) - Building a Brand and Raising Capital in Cannabis(01:14:23) - Future Aspirations and Closing Thoughts

Matt Marquis was named CEO of Pacifica Hotels after 7 years as the company's President and succeeded his father who founded the organization in 1970. Pacifica is the largest owner and operator of Boutique hotels on the Pacific Coast. On this episode, Jake and Matt discuss: - A walkthrough of converting an independent hotel in Hawaii- Developing Investor Relations- Growing and evolving a Management Company- Key to differentiating the hotel experience Links:PacificaHotels.comMatt on InstagramKing Kamehameha's Kona Beach HotelHotel Bel Air Connect & Invest with Jake: Follow Jake on TwitterTake the Hospitality Investing MasterclassLearn How to Invest with DoveHillTopics:(00:00:00) - Intro(00:02:07) - Matt’s career background(000:07:46) - What did you do within the hotel asset that made you so successful?(00:08:50- What did you come to be known for?(00:10:00) - What was so appealing about doing deals in California?(00:11:24)- How would you describe your portfolio in 2023?(00:12:51)- Converting an independent hotel(00:19:46) - Selling an Asset to Blackstone(00:23:41) - How do you think about taking a profit?(00:29:33) - What happens when you have a ReFi?(00:32:57) - Do you readjust your holding patterns when working with Institutional Capital?(00:36:25) - What have you learned about Investor Relations?(00:39:52) - Where do you find investors now?(00:41:07) - What pillars won’t you move on in negotiating with investors?(00:42:18) - What was it like being managed by Blackstone?(00:44:52) - What’s the process of creating a Hotel Brand?(00:50:20) - Is there a certain size hotel where the amenities become challenging?(00:53:18) - Are there simply too few deals out there?(00:54:16) - Is it unsettling having all this dry powder on the sidelines?(00:55:46) - How has your management company evolved over the years?(00:57:42) - What key things do you focus on to differentiate the hotel experience?(01:03:18) - How do you think about preparing your business for the next generation?(01:07:26) - How are you growing the management company?(01:09:54) - What is your favorite hotel?(01:14:46) - Where can people find you online?

John Grossman, CEO of Marc & Rose Hospitality, shares insights on sourcing deals, leading teams, and upcoming hospitality trends. Topics include avoiding franchising, market criteria, property acquisition during moratoriums, and strategic planning for hotel assets. The podcast delves into the strategic approach of owning independent hotels, investing in iconic markets, and designing hospitality properties for long-term value creation.

Dupree Scovell, Managing Partner of Woodbine, discusses securing deals, raising capital, and creating memorable guest experiences in the hospitality industry. He shares insights on diversifying capital partners, project management challenges, and the future of office spaces.

In this discussion, Ben Wolff, co-founder of Onera, shares insights from his journey in the unique stays industry, highlighting his experience developing a treehouse hotel in Texas. He unpacks the financial intricacies of his latest resort investment deal, emphasizing the importance of solid operating models and performance metrics. The conversation also delves into innovative fundraising techniques and strategies for attracting high-end guests while maintaining streamlined operations in the competitive Texas Hill Country market.

Oxford Capital Group is an award-winning international real estate investment, development, asset, and property management firm. Oxford Hotels and Resorts, LLC is its wholly owned hotel operating affiliate, which specializes in operating, managing, and branding distinctive, high-design lifestyle hotels, and food & beverage venues.John is also the Founder, Chairman, and CEO of its primary hotel operating affiliate, Oxford Hotels and Resorts, LLC., which specializes in operating, managing, and branding distinctive, high-design luxury lifestyle hotels and food & beverage venues including its proprietary lifestyle hospitality brands: Godfrey, LondonHouse, Julian, IO, ALK, SOMA House, Fiona, and GarrettOn this episode, Jake and John discuss:- Navigating economic black swan events- How John Built Oxford Capital Group- How Oxford operates in the luxury lifestyle hotel spaceLinks:Oxford Capital Group, LLC - https://www.oxford-capital.com/Oxford Hotels & Resorts, LLC - https://ohrllc.com/Connect & Invest with Jake:Follow Jake on Twitter: https://twitter.com/jwurzakTake the Hospitality Investing Masterclass: https://learn.jakewurzak.com/Learn How to Invest with DoveHill: https://bit.ly/3yg8PwoTopics:(00:00:00) - Intro(00:02:32) - John’s RE career(00:08:05) - European mindsets in RE investing(00:16:53) - Black Swan event insights(00:31:16) - How are you thinking about making investments in markets that might be suffering politically in the short term?(00:44:51) - Building Luxury-lifestyle brands(00:51:04) - F&B mistakes(00:56:44) - The London House Chicago(01:05:39) - How do you reconcile challenges with losing management contracts or an investor’s desire to sell?(01:10:16) - How do you structure the organization?(01:12:46) - Are you opportunistic or strategy-driven?(01:15:39) - What are some key learnings from building this company?(01:21:50) - What is your favorite hotel?

As the Co-Founder and Co-CEO of BH3, Mr. Freedman oversees Investments, Financial Analysis, and Capital Markets across all BH3 transactions, and has expertise in financial analysis, credit, and underwriting. Before cofounding BH3, Mr. Freedman was a principal in a private lending company based in South Florida that financed bridge loans on commercial and residential real estate and oversaw capital markets relationships, loan/special servicing, and workouts.On this episode, Jake and Greg discuss:How to identify A-PlayersThe best way to comp people in REPEOrganization-defining dealsCapital structuresLinks:BH3 ManagementGreg on LinkedInConnect & Invest with Jake:Follow Jake on Twitter: https://twitter.com/jwurzakTake the Hospitality Investing Masterclass: https://learn.jakewurzak.com/Learn How to Invest with DoveHill: https://bit.ly/3yg8PwoTopics:(00:00:00) - Intro(00:02:48) - Greg’s career and background(00:14:41) - How to identify A-players(00:16:43) - What’s the best way to comp people in REPE?(00:19:47) - Recruiting talent(00:23:20) - Being both entrepreneurial and institutional(00:28:40) - Organization-defining deals(00:41:10) - The world of South Florida condo development (01:00:26) - Developing relationships(01:05:00) - Capitalizing deals(01:17:34) - Waterfall structures(01:22:16) - Buying debt(01:27:41) - What is your favorite hotel?