Start by preheating your oven to 325 F then liberally spray a 12 cup bundt pan with non-stick baking spray.
In your stand mixer bowl, add butter and sugar and mix for 3-4 minutes on high speed until very pale yellow and fluffy.
Next add eggs, one at a time, combining well after each addition and scraping down the sides of your bowl as needed.
Turn your mixer down to its lowest speed, and slowly add flour into batter in two increments then add salt, baking soda and cocoa powder. Be careful not to overbeat.
Add in sour cream and vanilla extract, scrape down sides and mix until just combined and turn off the mixer.
Whisk in red food coloring and hot water until completely well mixed.
Pour cake batter into the prepared bundt pan, and bake for 1 hour and 15 minutes or until a toothpick inserted in the center of the cake comes out clean.
Cool in a pan on a wire rack for 10 minutes then invert the cake on a serving plate for at least an hour or until the cake is cool to touch.