In this special coaching-call episode, we talk about overcoming the unexpected challenges that often pop up in real estate projects and how to communicate effectively with investors when things don’t go as planned. We also break down how to structure hotel operating businesses, including why it can be a good idea to use separate LLCs, how to handle employee benefits, and the advantages of S corporations for tax savings.

On top of that, we get into the nitty-gritty of managing hospitality and food & beverage operations, touching on both tax considerations and the complexities of construction contracts, including GMP savings. You’ll also hear some strategic tips on how to scale your investments, make the most of unique property features, and create innovative F&B concepts that not only enhance guest experiences but also boost profitability. Enjoy!

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/3yg8Pwo

Topics:

(00:00:00) - Intro

(00:02:31) - Delivering bad news to investors

(00:09:33) - Operating companies vs. property company structures

(00:02:27) - Structuring branded residences

(00:23:45) - Structuring for a F&B Leased to a third party

(00:34:09) - Incentive structures for construction management

(00:40:55) - Getting comfortable with first-time operators

(00:49:13) - Why first-time hoteliers fail

(00:58:15) - Best practices for getting a liquor license