259. Why Invest in Boutique Hotels Instead of STRs & The Power of Personal Branding with Rich Somers

Feb 6, 2024

An active real estate investor, Rich Somers, discusses why he transitioned from multifamily value-add and STRs to boutique hotels, STR regulations, tax strategies, and the power of personal branding for real estate investors. If you're considering starting a personal brand, this episode has some great tips!

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Introduction

00:00 • 6min

Investing in Boutique Hotels vs Short-Term Rentals

05:41 • 15min

The Impact of 100% Bonus Depreciation and Personal Branding in Real Estate

20:47 • 12min

Tax Implications of Boutique Hotels vs Short-Term Rentals and the Power of Personal Branding

32:38 • 4min

Exploring Personal Branding on LinkedIn and the Potential Shift to Other Platforms

36:57 • 3min

In this week's episode, Ryan and Thomas are joined by Rich Somers, an active real estate investor and entrepreneur with a portfolio valued at $70M+, to discuss: - Rich's journey and why he transitioned from multifamily value-add and STRs to boutique hotels. - STR regulations, tax strategies, and more. - Personal branding tips for real estate investors If you're considering starting a personal brand, this episode has some great tips! Connect with Rich: www.instagram.com/rich_somers | www.somerscapital.com/mastermind | https://podcasts.apple.com/us/podcast/the-rich-somers-report/id1659337579 Enroll in the TurboTax Tax Prep Bootcamp www.taxsmartinvestors.com/tax-prep-bootcamp To become a client, request a consultation from Hall CPA, PLLC at www.therealestatecpa.com/podcast Apply to join the Hall CPA team at www.therealestatecpa.com/careers Follow Us On Social Media Subscribe to our YouTube channel: www.youtube.com/c/therealestatecpa Join our Facebook group: www.taxsmartinvestors.com/facebook Subscribe to or weekly newsletter for more tax tips: newsletter.taxsmartinvestors.com/podcast Follow Thomas: twitter.com/thomascastelli_ Follow Ryan: www.linkedin.com/in/ryancarriere/ The Tax Smart Real Estate Investors podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.