The Rich Somers Report
Using Seller Finance to Buy a Boutique Hotel & Tips for Buying in 2023 | Avery Carl (Mar '23) E45
May 4, 2023
Avery Carl interviews Rich Somers on multifamily properties merging with short-term rentals, his shift to boutique hotels, and advice for young investors. They discuss buying hotels with seller finance, unique financing models, and the importance of trust in real estate transactions. Rich shares tips for beginners in the 2023 market and the power of renovation in property investing.
12:11
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Rich explored boutique hotels due to high competition in multifamily market.
- Successful 2023 investor strategy includes discounted properties, strategic renovations, and favorable financing terms.
Deep dives
Multifamily Real Estate Market Trends in 2021
In 2021, the multifamily real estate market experienced increased competition due to government monetary policies and low interest rates. With 40 to 50 property tours and 25 to 30 offers on good deals, the market became challenging to navigate, leading to the exploration of alternative investment opportunities.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
