Masters of Moments

If you raise capital or invest - this is for you. I discuss:(00:00:00) - Intro(00:04:34) - Promoted Interest(00:06:00) - What’s a waterfall?(00:08:28) - How to build a waterfall(00:15:04) - Advanced structures(00:18:59) - Nuances(00:26:44) - Crystallization(00:30:06) - How we structure our deals(00:34:34) - Mistakes we’ve made(00:38:11) - Q&ALinks:Join the CommunityThe BoardroomCasey Lynch on Masters of MomentsBen Wolff on Masters of MomentsConnect & 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

Jordan Breck has been in the real estate investment business for over 10 years and is the President and co-founder at MRP. His primary responsibilities include the structuring and analysis of investments and overseeing the company’s growth strategy. Jordan has been personally involved in over $600 Million worth of transactions.MRP Capital Group is The nation's largest owner of Walmart Shadow Centers in small-town America. Their current portfolio is comprised of nearly 2.6 million square feet across 100 properties in 26 states.On this episode, Jake and Jordan discuss: What makes a great Shadow Strip Center MRP's portfolio and transaction activity Optimizing the acquisition process Developing the right culture at your company Raising capital Links:MRP Capital GroupJordan on LinkedInPlacer.aiConnect & 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(00:03:46) - Jordan’s experience building a real estate company(00:08:25) - Why most folks don’t transition from being a deal shop into a real estate investment firm(00:10:35) - Shadowing Walmart strip centers(00:14:35) - What makes a great shadow strip center?(00:17:34) - Where have you found ways to gain a competitive advantage?(00:22:48) - Jordan’s portfolio and transaction activity(00:25:18) - Defining the criteria for a deal(00:31:27) - The purpose of capping the number of retailers(00:33:06) - New Supply (00:38:42) - Optimizing the acquisition process(00:42:51) - What are your long-term goals for the business?(00:46:27) - Why a REIT would be interested in something as complicated as these deals(00:50:28) - What strategies are you identifying right now?(00:59:04) - Mistakes made(01:05:37) - How to develop the right culture at your company(01:15:45) - Raising Capital(01:26:45) - What’s your favorite hotel?

Affordable Upstate is a real estate investment firm focused on redeveloping and redefining naturally occurring affordable housing in the Upstate of South Carolina. In 2017 Mario co-founded Affordable Upsate, a small real estate investment firm, at the time with 63 units, that redevelops energy-efficient, multifamily apartment units. Since 2017 we have placed over $50MM of investor equity into socially responsible, environmentally-enhanced workforce housing investments.On this episode, Mario and Jake discuss: The housing shortage in the southeast Mario's work in affordable housing Building a vertically integrated company Raising capital & deal structures 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/3yg8PwoLinks:Affordable UpstateMario on LinkedInTopics:(00:00:00) - Intro(00:03:51) - Greenville: The new Austin?(00:06:57) - The housing shortage in the southeastern United States(00:13:22) - The opportunity in Class B multifamily(00:16:09) - Mario’s work in affordable housing(00:20:47) - How are you assessing risk?(00:25:47) - Mario’s journey into real estate(00:28:10) - What advantage do you have investing in the market you live in vs. outsiders?(00:29:36) - Making the entrepreneurial leap(00:37:23) - Mario’s first deal(00:41:36) - Value add(00:43:07) - Becoming vertically integrated(00:46:09) - What innovative ways have you chosen to run the operating business?(00:49:56) - What’s a mistake you made when building the PM company?(00:52:12) - Investing through Gps & building trust with investors(00:55:41) - Deal structures(00:57:56) - Raising capital(01:01:30) - What is your competitive edge?(01:03:31) - Construction & renovations(01:08:48) - What’s your weekly work cadence?(01:10:43) - What drains your energy?(01:11:43) - What are your 3-year goals?(01:14:00) - What is your favorite hotel?

Preferred Equity is one of the best opportunities in Real Estate Right now. This is a time when you can earn equity-like returns with debt-like risk. They don't come often.On this episode, I do a solo-deep dive on Pref Equity and some Q&A done with a live audience! Enjoy.Links:Deal Reward ProgramHospitality Investing MasterclassFollow Jake on XTopics:(00:00:00) - Intro(00:02:32) - Explaining Preferred Equity(00:05:27) - Pref equity vs. mezzanine financing(00:11:27) - Asymmetric returns(00:13:49) - An example of using Pref Equity(00:18:39) - Uses for Pref Equity(00:22:33) - What Pref Equity is NOT used for(00:24:23) - Where the magic happens: Structuring a Pref Equity deal(00:37:49) - The Hospitality Investing Masterclass & Deal Rewards Program(00:39:16) - Audience Q&A

Homi Vazifdar discusses building ultra-luxury resorts, selling brands for $2m/key, and making experiential luxury work. Topics include reinventing oneself, creating profitable assets in remote Utah, and transitioning to an experiential model in the hospitality sector.

Ben Wolff, Co-founder of Onera, talks about utilizing overseas talent, fundraising, and building unique luxury treehouse resorts. They discuss the intersection of Tech and Real Estate, creating memorable guest experiences, and the evolution towards experiential accommodations in the hospitality industry.

With the help of its carefully-selected operating partners, Macfarlan intends to aggregate a strategic portfolio of small to mid-sized high-yielding agricultural assets reaching a target size of ~50,000 acres, operate for targeted cash on cash return over 6-8%, and exit to an institutional investor achieving a projected 13-15% project-level IRR over the anticipated hold period of 8-10 years.On this episode, Jake and Trevor discuss:- The importance of a company mission- Investing in Farmland- Deal structures- Raising Capital- The importance of mentorshipLinks:Macfarlan Capital PartnersTrevor on TwitterTrevor on SubstackConnect & 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(00:02:07) - The impact of the Military on Trevor’s career(00:08:41) - The importance of a company having a Mission(00:10:53) - Choosing real estate as a career(00:18:17) - Lessons learned from the GFC(00:20:46) - Can you create generational wealth without significant leverage?(00:24:02) - Investing in Farmland(00:32:25) - The value of experience in RE(00:39:52) - Finding great operators(00:42:19) - Deal structures on Farmland acquisitions(00:49:25) - Crop share vs. lease models(00:51:15) - What’s surprised you most in doing due diligence on a farm deal?(00:53:27) - What does value-add look like in this asset class?(00:56:56) - Where have you seen things go wrong in your acquisition process?(00:58:52) - How are you fundraising?(01:00:06) - The experience of working in a father-son business(01:05:13) - The importance of reputation(01:13:41) - Mentorship(01:07:14) - What is your favorite hotel?

Discussing the post-covid industrial space and key moments in Matt's career. How the fund investing model has changed risk appetite, adding value as an operator, and Matt's investment strategy. Creating incentives and deal structures, surviving without a promote, and raising capital. Plus, a memorable hotel experience in Northern Thailand with elephants

Sky is the Founder and CEO of Basecamp Resorts, a hospitality brand headquartered in Canmore, Alberta, Canada. It currently operates 11 hotel and resort properties across Western Canada’s most spectacular mountain ranges.Jake and Sky discuss:- The state of experiential travel- Finding great locations- A walkthrough of a deal- Nordic spas- Advice for folks in hospitalityLinks:Basecamp ResortsSky on LinkedIn 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(00:02:30) - Sky’s career and the Airbnb experience(00:16:30) - The state of Basecamp today(00:19:37) - Balancing chasing easier opportunities in real estate and complex hospitality projects(00:22:02) - Finding good locations(00:23:12) - The change in experiential travel(00:24:43) - How are you capitalizing and structuring deals?(00:33:51) - Sky’s competitive edge(00:36:49) - How to know if you can make a property work(00:38:17) - Spending money on things a guest sees vs. things they won’t see(00:39:27) - F&B(00:41:24) - Walkthrough of a deal(00:52:14) - How do you approach design?(00:55:14) - Nordic spas(00:58:37) - Townhouse-hotels & alternative lodging(01:02:41) - Sky’s worst deal(01:04:53) - Advice for folks in hospitality(01:06:23) - Building culture(01:09:29) - What is your favorite hotel?

An active investor for 20 years, Jonathan has been involved in over $10 billion of real estate transactions worldwide in the hospitality, office, and residential sectors, focusing on hotels. Prior to founding EOS in 2017, he was with Northwood Investors from 2007 to 2016, where he served as a Managing Director from 2009 to 2016, overseeing the acquisition and asset management of its hotel portfolio. Jonathan oversaw the hotel investment process for Northwood Investors, which included over $940.0 million of equity.On this episode, Jake and Jonathan discuss: Finding and structuring deals Gauging risk Debt strategies Rate ceilings Strategy sessions Building a vertically integrated organization Setting incentives Links:EOS InvestorsJonathan on LinkedInGirls Like Us by Cristina AlgerThe Great Game of Business by Jack StackIsla Bella Beach ResortConnect & 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(00:02:01) - Jonathan’s career hospitality(00:05:52) - How are you finding and structuring deals?(00:10:05) - Gauging risk(00:14:18) - Succeeding in hospitality as an outsider(00:20:46) - Debt strategies(00:25:51) - Evaluating market supply(00:28:12) - Rate ceilings(00:31:50) - Why Jonathan chose hospitality(00:33:49) - Most important learnings about hospitality(00:37:49) - Rationalizing having a diverse portfolio(00:45:06) - Strategy Sessions(00:50:15) - Improving communication flows(00:57:20) - Building a vertically integrated organization(01:03:17) - Building EOS(?)(01:09:01) - Incentivizing people(01:14:38) - Where investments go wrong(01:17:13) - What is your favorite hotel?