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Action Academy | Replace The Job You Hate With A Life You Love
$0-$80,000,000 in Boutique Hotels (IN 5 YEARS) W/ Rich Somers
May 14, 2024
Entrepreneur Rich Somers shares his journey from 0 to $80M+ in 5 years through real estate investments, boutique hotels, and short term rentals. Topics include risks in real estate, redefining financial freedom, the importance of environment, and navigating challenges in entrepreneurship.
48:01
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Quick takeaways
- Taking calculated risks in real estate can lead to exponential growth in one's portfolio.
- The impact of a conducive environment on productivity and mindset is crucial for success.
Deep dives
Transition from 401k to Real Estate Investing
Transitioning from a stable government job to real estate investing by using his 401k to purchase an 11-unit building in Cincinnati marked the beginning of a successful journey. Despite hesitations from others due to perceived risks, taking the leap led to remarkable growth in his real estate portfolio, encompassing $80 million in various properties, including boutique hotels and apartments.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode