The Rich Somers Report

On today’s episode Rich sits down with Eric Nelson - Entrepreneur, Real Estate Investor, Founding Partner of Wild Oak Capital, and Host of “The Real Estate Mindset” Podcast. Eric Nelson is from southwest Colorado and received a degree in Civil Engineering from Colorado State University. He is the principal of Wild Oak Capital and is actively syndicating multifamily properties. He has been investing in real estate for over 10 years, and currently has over 650 units under management, with a team or with his wife.Rich and Eric start off by discussing the challenges of multifamily investing, Michael Blank, living off of acquisition fees, Robert Martinez’s 2023 foreclosure, what killed deals during the COVID-19 pandemic, Rich’s multifamily portfolio, debt assumptions, the benefits of over-communicating  in real estate, and why asset management is important.They then reflect on why Rich is bullish on Multifamily, struggling asset classes, analysis paralysis, doing the reps and shortcutting the path to success, Eric’s new deal in Texas with Eric Chadderdon, what Eric is doing today to respond to cap rates, Eric’s portfolio, seller carries, and the cost of capital.Lastly, they talk about private debt funds, raising capital through 401k funds, transitioning funds from 506b to 506c, Bethany LaFlam, Eric’s first multifamily deal, Rich’s first boutique hotel deal, and Eric’s search criteria for finding multifamily deals. Connect with Eric on Instagram: @wildoakcapitalVisit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchase Book a free call with Prime Corporate Services to create a business strategy primecorporateservices.com/richsomers--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today’s episode Rich sits down with Savannah Arroyo “The Networth Nurse” - Entrepreneur, Real Estate Investor, Part-time Nurse, CEO & Founder of Networth Nurse, Author, and Coach. Savannah has worked as a Registered Nurse for over ten years, with extensive experience in leadership and healthcare administration. Through her personal brand, Networth Nurse, Savannah has helped hundreds of nurses with their finances. With an emphasis on education, Savannah leveraged her brand to purchase over $15M of real estate, partnering primarily with healthcare professionals to scale her portfolio. Eager to address financial literacy for the entire healthcare community, Savannah sought to expand her efforts by creating InvestHealth, a Financial Health Benefit for Healthcare Companies. Rich and Savannah start off by discussing meeting on Rich’s old podcast and what Savannah has been doing since, investing in startups, being passionate about the healthcare community, what it was like working in healthcare during the COVID-19 pandemic, Savannah’s work history as a nurse, Savannah’s real estate portfolio, the current market rate environment, thinking long term, and where Savannah sees opportunity in Oregon.They then reflect on Savannah’s search criteria for deals, seller financing and loan servicing, Savannah’s startup - InvestHealth, financial literacy, paying off student loans, connecting Savannah’s company to healthcare companies, in-person speaking events, and active vs passive investing.Lastly, they talk about the opportunity of investing with retirement funds, the opportunities of the tech space, the CARES Act, education and automation in real estate, withdrawing money from 401ks, Forex Trading, Savannah’s real estate portfolio, what she’s looking forward to in 2024, and celebrating financial freedom. Connect with Savannah on Instagram: @thenetworthnurseVisit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchaseBook a free call with Prime Corporate Services to create a business strategy primecorporateservices.com/richsomers --Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today's "Saturday Edition" episode, Rich is joined by Savannah Arroyo, “The Networth Nurse”. Rich and Savannah start off by talking about their transformation from normal W2 employees to real estate investors. They then analyze useful literature, podcasts, and techniques that helped them live the life they wanted to live, utilizing the “5-9” approach after normal work hours, finding their “whys,” affording themselves the grace to make mistakes, and how they increased their productivity when they got started.Connect with Savannah on Instagram: @thenetworthnurse--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today’s episode Rich sits down with Jack McColl “The King of Debt” - Entrepreneur, Founder of Credit Stacking, and Business Credit Coach. Jack, better known as “The King of Debt,” has been featured on Market Watch, Disrupt Magazine, Yahoo Finance, and Forbes. He is a self-made mogul who went from having zero dollars in business credit to being approved for $500,000 in a little more than a year. Jack has mentored thousands of entrepreneurs, helping them get access to hundreds of thousands of dollars of 0% interest capital to start, scale, and finance their businesses. Rich and Jack start off by discussing Jack’s first episode with Rich (Episode 68), Jack’s 5 week trip to South America, Columbia and kitesurfing, skydiving in Venezuela, Jack’s passion for sports and hobbies, Jack’s favorite automated business services, optimizing business, and Jack joining the 800 club for testosterone levels and credit scores. They then reflect on their favorite exercises, the importance of physical fitness, what it’s like showering on planes, comparing first class airlines, accumulating credit card points at different banks, Jack’s experience helping clients secure $150,000 0% interest business credit, the AmEx Business Gold and Platinum cards, and the Wells Fargo’s Autograph Journey Card.Lastly, they talk about buying assets with business credit, the AmEx business card pros and cons, which cards Jack recommends using, the Bilt Credit Card, tools to keep track of debt payments, the Wheels Up AmEx Travel experience, Private Jets, Set Jet, Elon Musk’s Starlink Satellites, Jack’s big move to Utah, Rich’s experience as a pilot, and Kris Krohn. Connect with Jack on Instagram: @jackmccollVisit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchase--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today’s episode Rich sits down with Dr. Alex Roher, MD - Entrepreneur, Board Certified Anesthesiologist, Nose Filler Specialist, and Owner/Medical Director of SD Botox and Weight Loss Shots. Dr. Roher realized that he wasn’t as fulfilled by his work as he could be. Anesthesia was rewarding, but it didn’t fulfill his artistic side. So to satisfy his creative yearning, he started doing Botox and dermal filler on his wife, and then her friends, and then her friend’s friends. As the business grew, he decided to change the course of his career and pursue a path that could help patients transform their lives for the better through aesthetics.This vision came to fruition with the opening of SDBotox in 2013. Since then, Dr. Roher has grown his business to become one of the most sought-after medical aesthetic clinics in San Diego. Throughout the years, he has introduced several groundbreaking procedures to his patients in San Diego. He’s helped thousands achieve incredible results, which keeps them coming back time and time again for all of their cosmetic needs.Rich and Dr. Roher start off by discussing how Dr. Roher got his start in Botox, leaving anesthesiology behind, the pros and cons of using Botox, Rich’s experience with Botox, the mindset of entrepreneurship, Dr. Roher’s impact on the San Diego community, what his business provides to clients, tattoo and hair removal, the best dosage for Botox, the history of botox, the various usage of Botox, lip and eye fillers, and the importance of moderation. They then reflect on the therapeutic nature of Botox, Botox dosages, the botox family, Dr. Roher’s experience with COVID, generational reactions to Botox, taking care of ourselves, the healthcare system, Ozempic and how it relates to diabetes, the pros and cons to Ozempic, Uber Eats, Dr. Roher’s 7 day water fast, when we should start taking Ozempic, Dr. Roher’s business modeling, the history of Ozempic, the pharmaceutical industry, and why everyone hates insurance companies.Lastly, they talk about real estate insurance, hormone replacement, testosterone injections in men and women, Dr. Roher’s experience with testosterone, the pros and cons of injecting testosterone, and nose fillers. Connect with Alex on Instagram: @dralexnosebest Visit grovescapital.com/richsomers to receive a $2,500 credit on closing costs or appraisals--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today's "Saturday Edition" episode, Rich and Alex start off by talking about the Somers Capital yearly yacht meetups, which begin on May 11th. They then analyze the pros and cons of online dating, proper dating etiquette, and share some of their own first date stories. --Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today’s episode Rich sits down with Lauren Fisher - 8x CrossFit Games athlete, real estate investor, and founder of Grown Strong, an online fitness community for women. When she’s not busy training, competing, or hosting fitness retreats, she enjoys learning about & investing in real estate with her husband and family.Rich and Lauren start off by discussing working out at Compound (a San Diego fitness complex), Lauren’s new team, Lauren’s workout routine, a deep dive of CrossFit exercises, Rich’s workout routine, the benefits of lifting, how Lauren got into weightlifting and CrossFit, the importance of real estate investing, what it takes to be an elite athlete, coaching in CrossFit and real estate, and testing testosterone levels for athletes.They then reflect on women bodybuilders, professional pickleball, natural supplements, misconceptions in CrossFit and weightlifting, transitioning athletes, planning mastermind and fitness retreats across the world, and returning members to retreatsLastly, they talk about destination spots, wine tasting across the world, Lauren and her husbands new property in Denmark, airbnb restrictions, the rate environment, why Rich is bullish on San Diego, and Lauren’s PRs in Crossfit. Connect with Lauren on Instagram: @laurenfisherJoin Lauren’s Fitness Retreat Community: https://retreats.grownstrong.com/ Book a free call with Prime Corporate Services to create a business strategy primecorporateservices.com/richsomers --Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today’s episode Rich sits down with Michael Chang - Entrepreneur, Real Estate Investor, and co-Founder and partner at Trustbnb Vacation Rentals and Trustbnb Capital. Based in New York, Michael owns and operates a portfolio of short term rentals in Philadelphia, PA and the Smoky Mountains, TN. Prior to building Trustbnb, Michael was a New York City-based investment banker, who spent over a decade at Citigroup, Merrill Lynch, and Jefferies advising public companies, private equity firms, family offices, and venture capitalists. He has advised and executed over $40 billion in transaction value across 52 deals in his career. Rich and Michael start off by discussing Manhattan, Wolfgang’s Steakhouse, Michael’s favorite sushi restaurant in New York, Brian Malarkey, Rich’s fourth boutique hotel closed, Michael’s portfolio, rental arbitrage, multifamily acquisition, the importance to investing into larger apartment buildings, the process to taking on large multifamily arbitrage deals, and looking for the right buildings to arbitrage in.They then reflect on the biggest risks to the arbitrage model, Rich’s arbitrage deals across the US, the best markets to arbitrage in, what Michael recommends doing to start in arbitraging, Michael’s team layout, overseas virtual assistants, tracking KPIs, the CEO mindset, and buying in the Smokys. Lastly, they talk about moving equity, buying conservatively, the current rate environment, cost segregation studies, picking the right accountant, Michael’s under-the-radar potential new market, what Michael’s the most excited about in the coming year, where happiness stems from, the perks of financial freedom, and how entrepreneurship is a little like thanksgiving. Connect with Michael on Instagram: @michaelchangbnbVisit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchaseVisit grovescapital.com/richsomers to receive a $2,500 credit on closing costs or appraisals--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today's "Saturday Edition" episode, Rich starts off by talking about a several deal updates for the Somers Capital Mastermind. Rich then analyzes the journey he and his team have gone on as they closed on a 44 unit boutique hotel in Sonoma Coast, negotiations with the seller, the full pricing of the deal, a few mishaps that happened along the way, and how navigate through potential issues.--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today’s episode Rich sits down with Eric Chadderdon - Entrepreneur, Multifamily Real Estate Investor, Co-Founder of Gibby’s Capital Investments, and a Wall Street Journal and USA Today Best Selling Author. Eric is headquartered in Houston, Texas and primarily focuses on Multifamily Acquisitions. He made the transition full time to multi-family real estate back in 2021 from direct sales and management.In the last three and a half years, Eric has gone from 0-2043 doors as a General Partner, owning just over $260MM of Multifamily Real Estate. He’s been a guest on several podcasts, has articles written about him in both Yahoo Finance and the New York Weekly, is a Wall Street Journal and USA Today Best Selling Author for his book “All In,” and has been invited to speak at multifamily conferences across the nation.Rich and Eric start off by discussing how they first connected in Orlando at Peak Partnership 2024 (an event hosted by Tyler Deveraux), meeting Tyler Deveraux, how Eric got started in real estate, learning from bad investments, Eric’s first property - a 220 unit multifamily property, partnering with mentors, Eric’s second property in Houston, the interest rate market, and Robert Martinez’s foreclosure.They then reflect on their experiences with bridge lenders, raising capital for deals in a pinch, a deal that Somers Capital is going to be a co-GP on, where Eric got engaged, analysis paralysis, being a sole GP, in house property management vs third party management, what Eric recommends for the first deal, growing active communities, what Eric is focused on in 2024, and delayed gratification.Lastly, they talk about learning how to raise money, the fear of the unknown and pushing through adversity, diet and fitness, starting with momentum, Lauren Fisher, the difference between success and failure, providing value to others, Rich’s experience with podcasting, the benefits of podcasting, Joe Rogan, and real estate meetups. Connect with Eric on Instagram: @eric_chadderdon Book a free call with Prime Corporate Services to create a business strategy primecorporateservices.com/richsomers Visit grovescapital.com/richsomers to receive a $2,500 credit on closing costs or appraisals--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today’s episode Rich sits down with David Pere - Entrepreneur, Real Estate Investor, Podcast Host, Author, Public Speaker, and Financially Free Marine. Dave is a 13-year Marine Corps veteran. In 2015, he purchased his first real estate investment– a duplex he house hacked, and then went all in on real estate. In 5 years he went from a negative net worth, to a millionaire with 100+ rental units, and was able to transition off active duty to work for himself. He’s written two books now about building wealth while serving, and has a community of 60,000+ Military Millionaires. Rich and Dave start off by discussing Rich’s Beers & Deal Meetup, Dave being able to exit the Marine Corps in December of 2023, Dave’s experience as a convoy truck driver, military pensions, why there’s no guarantee with pensions, the worst case scenario, Springfield, MO, Dave’s portfolio in Missouri, Dave’s new property in Tennessee, boutique hotels, increasing efficiency, and Patel Hotel Motels.They then reflect on Dave’s portfolio in RV parks and boutique hotels, how Dave got started, the power of a brand, Connor McGregor and Road House, Dave’s experience renting on Turo, Fast Lane Drive, Rich’s G-Wagon, no money down loans and VA loans, barndominiums, living in places to entertain, Dave’s experience with social media, Dave’s Mastermind: The War Room, Rich and Dave’s biggest takeaway from getting into real estate, financial freedom, sleep schedules, and the highest and best use of Dave’s time.Lastly, they talk about what Dave is most excited about for 2024, micro and macro-dosing, and prioritizing family.Connect with David on Instagram: @frommilitarytomillionaire--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today's "Saturday Edition" episode, Rich is joined by co-host Mike Tighe to answer the top question of the week that was sent in by our listeners. Rich and Mike start by talking about being able to co-host on a pod again. They then analyze no money down mortgages, VA loans, how both Mike and Rich got started with no money down loans, Mike’s portfolio, closing costs and agreements on terms, Rich’s portfolio, buying stocks, closing on properties with ADUs, why Rich was able to quit his job, capital gains taxes, and listening to experts and doing your own research.If you have a question you'd like answered, please email info@somerscapital.com. Stay tuned every Saturday to see if it's featured!Connect with Mike on Instagram: @miketighe_Visit grovescapital.com/richsomers to receive a $2,500 credit on closing costs or appraisals--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today’s episode Rich sits down with Mike Tighe - Entrepreneur, Real Estate Investor, Author, Private Pilot, US Navy Veteran, Former Air Traffic Controller, and co-host of the Real Estate Takeoff Podcast. Mike left his $200,000 salary W2 job and now has over $80 Million in Real Estate, owned or built, and his podcast has over 250,000 downloads. He also happens to be one of Rich’s former partners and is responsible for getting Rich into the real estate game.Rich and Mike start off by discussing how Mike introduced Rich into real estate, their first joint purchase, the law of reciprocity, why they love the multifamily asset class, why the Indianapolis market has been thriving, what Mike 1031 exchanged his portion of their first deal into, Joshua Tree and Big Bear, buying Airbnbs in 2022, oversaturated markets, the high interest rate market, pivoting into real estate development, why Mike wants to continue in the 30-60 unit build market, why Rich sees opportunity in Boutique Hotels, what Rich’s business coach has taught him, being bullish on San Diego, and the bonus ADU program that Mike utilizes. They then reflect on Mike’s properties in San Diego, permitting processes and coastal development permits in San Diego, return profiles and quarterly distributions, leap of faith modeling, bridge debt and loan lending, loans-to-purchase and construction debt, not triggering capital gains, refinancing, what Mike is looking to purchase next, the best way to source development deals, buying rundown retail, Andrew Greer’s episode, and why Rich is bullish on San Diego.Lastly, they talk about what’s next for Mike, business coaches, Hunter Thompson, how to attract capital, networking events, co-GP armies, capital raising, Rich and Mike’s experience beginning in real estate, Mike’s advice for anyone looking to get into real estate, getting around the right groups, why hate never comes from above, the pay-to-play model, Mike’s wedding, and Mike’s biggest takeaways.  Connect with Mike on Instagram: @miketighe_ Visit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchaseVisit primecorporateservices.com/richsomers to book a free call--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

This episode is a re-run of Blake Rocha’s original episodes, which aired May 16th and 18th, 2023.  On today’s episode Rich sits down with Blake Rocha - Content Creator, Entrepreneur, Coach, ex-stock trader. Blake is the founder of BNB Profits Program and other 7 figure businesses. He’s only 26 years old and makes $175,000/month in passive income. Rich and Blake start off by discussing meeting each other through Mikey Taylor, how Blake got into real estate, teaching audiences about financial freedom, how to effectively build passive income, reducing tax payments, how to get into real estate and finding effective mentors, reverse engineering, Blake’s first real estate deal, and Rich’s first mentors.They then reflect on Blake’s portfolio, why real estate is the best asset class, Rich’s best performing asset, creating unique wealth-building opportunities, having active income, why 401ks are ineffective in building wealth, constructing business around your lifestyle, the grind-set mentality, the seasons of work, chasing excitement, traveling without itineraries, where happiness stems from, the highs and lows, why Blake loves the journey and being addicted to the game, Alex Hormozi, the only guarantee being death, cutting out negativity and partnerships, and effectively adding value.Lastly, they talk about Blake’s airbnb business, being able to retire their parents, Blake’s coaching program, the value of podcasting, why Blake sees value in YouTube, Threads and X (aka Twitter,) growing social media followings, how Blake got into making content, the value of a hook in content creation, documenting the whole process, Ryan Serhant, Pace Morby, the advancement of technology, Blake’s process to creating content, thinking in content, utilizing other content creator’s processes,  the value of saves and shares, becoming the expert through reacting, the benefits of rehearing content, hiring content managers, social media posting frequency, being perfectionists, Tai Lopez, playing stupid games, why real estate is evergreen, PPP Loans, and playing long term games. Connect with Blake on Instagram: @mrfourtoeightVisit primecorporateservices.com/richsomers to book a free call--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today's "Saturday Edition" episode, Rich answers the top question of the week that was sent in by our listeners. Rich and Alex start by talking about their plans for the weekend and daylight savings. They then analyze the importance of buying in high growth markets, Rich’s first multifamily deals, chasing cashflow, what the first deal should look like and the fundamentals to a good deal, where Rich sees potential in the market right now, the importance of appreciation, and Rich shares several tips on what to look for when buying a property.If you have a question you'd like answered, please email info@somerscapital.com. Stay tuned every Saturday to see if it's featured!--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

Rich sits down with Christian Osgood – Entrepreneur, CEO of Kenosha Property Management, and COO of Multifamily Strategy. Christian Osgood is a 32-year-old Real Estate Investor with a 200+ unit portfolio of Multifamily and Hospitality properties, based in Washington State and Texas. In 2020, Christian left a 4 year sales career at the Costar group to become a full time investor and with $100,000, utilized creative finance to purchase $24,000,000 in real estate assets.Rich and Christian start off by discussing what Christian is doing in the multifamily space, the markets that Christian is in, the state of Washington, Gorge Amphitheater, Christian’s start as an investor at age 25, his portfolio of properties (including a 38-plex property that started with a chicken infestation), Rich’s 32-unit multifamily deal in Indianapolis, raising money, Christian’s boutique hotel in Washington, how Rich got into boutique hotels, the self-check in model, self managing properties versus third party management, having a full-time cleaning team on payroll, and why Rich enjoys real estate investing.They then reflect on taking over multifamily properties, Christian’s experience with running a property management company, using Facebook marketplace to lease out units, decentralized property management, what rent runs for in central Washington, how Christian maintains 100% occupancy, the cash for keys technique, why Washington and California are not landlord friendly states, pickleball, and why Christian broke up his partnership.Lastly, they talk about not burning bridges, disgruntled partnerships, Christian’s 28-unit mobile home park, Boeing’s influence in Washington, 6-month hotel stays, why Christian won’t change the zoning of one of his properties, what Christian is focused on in 2024, and what’s next after stabilization.  Connect with Christian on Instagram: @christianosgoodInterested in investing in this opportunity?Visit somerscapital.com/invest to book a free call with our team. *This offering is for accredited investors only*Visit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchase Visit grovescapital.com/richsomers to receive a $2,500 credit on closing costs or appraisals--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

This episode originally aired April 2020 on Rich’s old podcast “The Multifamily Takeoff”Grant Cardone is the CEO of Cardone Enterprises and Cardone Capital. Grant owns and operates seven privately held companies and has a real estate portfolio worth over $4 billion.The group starts off by discussing Grant’s background growing up in Louisiana, Grant’s first few deals, what initially attracted Grant to Multifamily homes compared to single family, why multifamilies did the best during the pandemic, and the importance of job growth.They then reflect on the need to scale, maximizing value with deals purchased, why renters want to pay rent, looking at deals during the pandemic, why Grant won’t invest in Wall Street, modeling investing after Warren Buffett, stimulus checks, and where Grant predicted the markets would go after the pandemic.Lastly, they talk about new money in multifamily, lenders in the pandemic, Grant’s cash reserves, Grant’s vision for his own future, Grant’s Gulfstream 550, Grant’s biggest mistakes he’s made, and his advice to new real estate investors.Connect with Grant on Instagram: @GrantCardoneConnect with Mike Tighe on Instagram: @miketighe_Connect with Shawn diMartile on Instagram: @shawn_dimartileVisit grovescapital.com/richsomers to receive a $2,500 credit on closing costs or appraisals--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

Rich sits down with Ryan Garland – Entrepreneur and Real Estate Investor, Founder and Chairman of Paradyme, Developer and Investment Manager, and Fund Manager. Ryan’s company, Paradyme, is a private equity firm that has been at the forefront of developing innovative investment solutions. Garland started his career in real estate by dealing with Single Family Residences (SFR). During the 2008 recession, he demonstrated his strategic skills by successfully closing over $2 billion of real estate transactions. He focused on distressed assets and "workout turnarounds" in the SFR and commercial sectors, which helped him become a top originator in California. His outstanding performance earned him recognition in the prestigious Top Producer Magazine. Garland oversees a $100M debt fund for 1st Trust Deed bridge loans.Rich and Ryan start off by discussing first connecting Miami for Ryan’s Mastermind, befriending Jordan Belfort, politics driving migratory patterns, the volatility of the market, private funding, shifting borrower activities, why hard money lenders make so much money, why Ryan will foreclose on properties, networks being your networth, Rich’s Boutique Hotel deal in Washington, why Ryan appreciates Rich’s funneling model, the importance of inviting investors into our families, and live streaming the development of properties.They then reflect on what it’s like starting a debt fund, the risks in underwriting and debt funds, Ryan’s preferred budget for debt funds, financing boats, why there’s more cash buyers in the market today, car buyers, the PPP loans taken out during the COVID-19 pandemic, Ryan’s experience in 2008 financial crisis, Ryan’s boat, how Ryan ships his boat across country, and what Ryan is doing in the man cave space.Lastly, they talk about barndominium designs, self storage spaces and financing, where Ryan sees demand for barndominium man caves, why Ryan won’t use airbnb for renting out his barncaves, why everyone hates the HOA, HOA policies, the Lifetime fitness model of reducing HOA costs, Ryan’s real estate projects and wineries, and a deep dive on mezz debt.  Connect with Ryan on Instagram: @ryangarland_paradymeVisit primecorporateservices.com/richsomers to book a free call Visit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchase--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

Rich sits down with DJ Young – Professional Pickleball Player.  DJ grew up in Burriana, Spain and played played junior tennis competitively from ages 4 to 16. He was first introduced to Pickleball at age 18 by his dad and has won numerous Pickleball accolades since turning pro, including the World Pickleball Championships, MLP Season 2 Newport Beach (Ranchers), and a PPA silver medal in men’s doubles.Rich and DJ start off by discussing DJ’s childhood, the benefits of living in San Diego, how Pickleball (PB) got it’s start, the differences between PB leagues, how profitable PB is compared to sports like Tennis, DJ’s daily training routine, how to effectively recover from injuries, and the recent escalation of competition in PB. They then reflect on DJ’s connection to Tyson McGuffin, Hayden Patriquin, the ideal physicality to play Pickleball, Rich’s favorite things about being an entrepreneur, how Rich met Alex Johnson, what Rich was like before real estate investing, DJ’s idea to create his own podcast,  how DJ met and became friends with Golden Tate, the pay scaling of PB, Jokovich’s prize money, the differences between Pickleball and Tennis, famous Tennis players, and the intricacies of PB competitions.Lastly, they talk about DJ’s future competitions, different competitive strategies in PB, the differences between singles and doubles events, how to get into Professional Pickleball, playing with intent, PB coaching, and the investing opportunities in Pickleball. Connect with DJ on Instagram: @djyoungpbVisit grovescapital.com/richsomers to receive a $2,500 credit on closing costs or appraisals--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

Rich joins co-hosts Thomas Castelli and Ryan Carriere on their podcast: Tax Smart Real Estate Investors. This episode originally aired in their feed on February 6th, 2024. On this episode, they discuss Rich's journey and why he transitioned from multifamily value-add and STRs to boutique hotels, STR regulations and tax strategies, and personal branding tips for real estate investors.If you have a question you'd like answered, please email info@somerscapital.com. Stay tuned every Saturday to see if it's featured!Connect with Thomas: www.thomascastelli.comConnect with Ryan: www.linkedin.com/in/ryancarriere--Connect with Rich on Instagram: @rich_somersInterested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more. Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call. Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.