82 min listen
#10: Jake Wurzak - How We Underwrite Deals
ratings:
Length:
48 minutes
Released:
Apr 26, 2023
Format:
Podcast episode
Description
On today's episode, Jake breaks down how DoveHill Capital Management underwrites Hospitality Deals. He details how they evaluate both the qualitative & quantitative factors of a potential asset, including price, historical performance, revenue trends, and expenses. He also explains how they model deals, identify Capex issues, how they structure deals, and their investment committee process. Finally, he wraps up with mistakes they've made in the past and how you can avoid them. Enjoy! Links: Smith Travel Research FRED (Federal Reserve Economic Data) CoStar Connect & Invest with Jake: Follow Jake on Twitter Take the Hospitality Investing Masterclass Learn How to Invest with DoveHill Topics: (00:01:02) - Introducing our first solo show! (00:02:19) - Defining Underwriting (00:03:32) - What happens when a deal comes into DoveHill: Evaluating the qualitative factors of a potential asset (00:11:11) - Quantitative Factors: Price, historical performance, revenue trends, and expenses (00:20:17) - Modeling: Back of Napkin method (00:23:02) - Implementing the in-house management team & identifying Capex issues (00:30:14) - Underwriting the Capital Structure (00:32:57) - The Exit Scenario & Stating Risks (00:35:40) - Easy mistakes to make (00:40:29) - The investment committee process (00:42:53) - The importance of timing (00:44:35) - Closing thoughts & Call to action
Released:
Apr 26, 2023
Format:
Podcast episode
Titles in the series (66)
#8: Zach Kupperman - Founder and CEO of Kupperman Companies - Historic Tax Credits & Revitalizing New Orleans Hospitality: Zach has over a decade of experience developing real estate throughout the Southeast. Current and past projects include hotels, multi-family, mixed-use, and retail. As CEO, he sets the overall strategy for the firm and oversees all acquisition, de... by Masters of Moments