How To Find A Good Boutique Hotel Deal | Saturday Edition 144On today's "Saturday Edition" episode, Rich answers the top question of the week that was sent in by our listeners. Rich reflects on visiting Miami last weekend for a mastermind hosted by Ryan Garland and meeting Jordan Belfort, Wes Watson, and Ryan Garcia. Rich then analyzes the three things that support finding a good boutique hotel deals. Rich then discusses what he looks for in the next great deal, finding the right broker, direct-to-seller deals, underwriting deals, and setting up GP/LLC structures.If you have a question you'd like answered, please email info@somerscapital.com. Stay tuned every Saturday to see if it's featured!--Ready to build your boutique hotel portfolio and take your investing to the next level? Unlock our proven system by joining the Boutique Hotel Mastermind Community. Reserve your spot for a free consultation today: www.hotelinvesting.com. If you're committed to scaling your personal brand and achieving 7-figure success, it's time to level up with the 7 Figure Creator Mastermind Community. Book your exclusive intro call today at www.the7figurecreator.com and gain access to the strategies that will accelerate your growth.Want to invest with Somers Capital and take advantage of high-performing boutique hotel opportunities? Learn more about how to get involved: www.somerscapital.com/invest. Need expert management for your short-term rentals or boutique hotel? Experience unmatched service by scheduling a free consultation with Excelsior Stays today: www.excelsiorstays.com/management.

Rich sits down with Mark Moss – Podcast Host, Radio Host, Founder of Market Disruptors and Co-Author of the bestselling book, The UnCommunist Manifesto.  Mark’s show, The Mark Moss Show, analyzes such topics as Economics, Business, Bitcoin, and Freedom. Mark has founded seven companies that hit 7-8 figures in less than a year with multiple business exits including a high valuation Fortune 500 exit. He’s also fixed and flipped over 100 homes and developed over $25m in real estate.Rich and Mark start off by discussing living in San Clemente, Mark’s studio, how Mark got his start in real estate, how certain events create wealth transfers, the greatest transfer of wealth in American history, the 2008 market crash, how 12 million businesses are owned by baby boomers, the opportunities to grow wealth, where baby boomers are putting their money, where millennials are putting their money, where real estate trends are heading, why millennials are considered nomads, South American real estate, and supply and demand.They then reflect on the current market rates, a deep dive on cap rates and how they affect the economy, where Mark foresees rates going, how intertwined the Federal Reserve and the Treasury actually is, The Fed’s 2024 rate cuts, why Mark stays away from stocks and Wall Street, international investing, why people don’t actually want more money, why bitcoin is a great investment, the velocity of money, value add projects, and the difference between being rich and having wealth. Lastly, they talk about the fundamentals of Bitcoin and why one should buy it in 2024, the decentralized revolution, authoritarian governments, when investors should sell, the volatility of bitcoin, and Mark’s fund.Connect with Mark on Instagram: @markmoss Visit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchase--Ready to build your boutique hotel portfolio and take your investing to the next level? Unlock our proven system by joining the Boutique Hotel Mastermind Community. Reserve your spot for a free consultation today: www.hotelinvesting.com. If you're committed to scaling your personal brand and achieving 7-figure success, it's time to level up with the 7 Figure Creator Mastermind Community. Book your exclusive intro call today at www.the7figurecreator.com and gain access to the strategies that will accelerate your growth.Want to invest with Somers Capital and take advantage of high-performing boutique hotel opportunities? Learn more about how to get involved: www.somerscapital.com/invest. Need expert management for your short-term rentals or boutique hotel? Experience unmatched service by scheduling a free consultation with Excelsior Stays today: www.excelsiorstays.com/management.

Rich sits down with Chris Groves – a serial entrepreneur who is leading the way in the lending industry and has funded over $7 billion in loans. He and his wife, Aleyna, started Groves Capital Inc, a family-owned mortgage company with the lowest rates in the industry. Groves Capital’s greatest accomplishments have been growing from 2 people to 575 across 25 states in fewer than three years; creating a family feel across the company where everyone works together to help others become successful; and doing billions in volume in such a short amount of time.Rich and Chris start off by discussing Fast Lane Drive, Chris and Aleyna’s new TV Show “Vows to Ventures,” current market trends, the longevity of the baby boomer generation, re-fi loans, Chris’s new fourplex in Coronado, who funds traditional and non traditional loans, defaulting on loans, and payment penalty negotiations.They then reflect on non-qm products, DSDR loans, partnering on loans, the importance of location, value add projects, what bridge lenders are capping loans at right now, ARV Percentages,  appraising properties, Appraisal Management Companies, fighting and shopping appraisals, and Chris’s experience as an appraiser.Lastly, they talk about re-financing into fixed debt, development deals, the risks of personally guaranteeing notes, DSDR thresholds, Insurance Rates in California, International lending, where Chris is lending currently, Belize becoming a hot zone, and where Chris plans to travel to in 2024. Connect with Chris on Instagram: @ceogrovescapitalVisit grovescapital.com/richsomers to receive a $2,500 credit on closing costs or appraisalsVisit primecorporateservices.com/richsomers to book a free call--Ready to build your boutique hotel portfolio and take your investing to the next level? Unlock our proven system by joining the Boutique Hotel Mastermind Community. Reserve your spot for a free consultation today: www.hotelinvesting.com. If you're committed to scaling your personal brand and achieving 7-figure success, it's time to level up with the 7 Figure Creator Mastermind Community. Book your exclusive intro call today at www.the7figurecreator.com and gain access to the strategies that will accelerate your growth.Want to invest with Somers Capital and take advantage of high-performing boutique hotel opportunities? Learn more about how to get involved: www.somerscapital.com/invest. Need expert management for your short-term rentals or boutique hotel? Experience unmatched service by scheduling a free consultation with Excelsior Stays today: www.excelsiorstays.com/management.

Rich joins Bethany LaFlam on her Bubbles with Bethany Mastermind, recorded in January 2024. Bethany is an Entrepreneur, Seasoned Deals Lawyer, Managing Partner of Premier Law Group, Mother, and Visionary. With more than 20 years of experience practicing law, Bethany has leveraged that expertise into her business life.Rich and Bethany start off by discussing what Rich’s unique superpower is, Bethany’s experience becoming a lawyer, the benefits of getting into real estate, Rich’s Boutique Hotel Fund and how to join it, what wealth means to them, prioritizing health, Bethany’s boutique hotel in Belize, the most recent boutique hotel that Somers Capital has acquired, a new deal that Rich is currently looking at, and whether Rich’s Boutique Hotels are independent brands.They then reflect on the benefits of masterminds, building communities, celebrating Beers & Deals, taking over underperforming properties, whether California is actually affordable for real estate, and Mikey Taylor.Lastly, Rich and Bethany talk about Excelsior Stays, direct booking, Rich’s take on the Airbnb Crash, what a good operator looks like, the hold period for Boutique Hotels, current marketing trends, diversification, which locations are best for boutique hotels, InvestorGirlBritt, and then Bethany opens up a Q&A for her mastermind.  Connect with Bethany on Instagram: @bethany_laflam--Ready to build your boutique hotel portfolio and take your investing to the next level? Unlock our proven system by joining the Boutique Hotel Mastermind Community. Reserve your spot for a free consultation today: www.hotelinvesting.com. If you're committed to scaling your personal brand and achieving 7-figure success, it's time to level up with the 7 Figure Creator Mastermind Community. Book your exclusive intro call today at www.the7figurecreator.com and gain access to the strategies that will accelerate your growth.Want to invest with Somers Capital and take advantage of high-performing boutique hotel opportunities? Learn more about how to get involved: www.somerscapital.com/invest. Need expert management for your short-term rentals or boutique hotel? Experience unmatched service by scheduling a free consultation with Excelsior Stays today: www.excelsiorstays.com/management.

Rich brings on his old business partner, Shawn DiMartile - Real Estate Investor, Host of The Real Estate Takeoff Podcast, Co-Founder of Takeoff Capital, Author of California Gold, and US Navy Veteran. Before cashing out his 401k to get his start in real estate, Shawn worked as an Air Traffic Controller for 6 years and before that he was a Navy Controller. He now owns over 300 rental units, $50 million in real estate, and his podcast, The Real Estate Takeoff, has over 200,000 downloads.  Rich and Shawn start off by discussing a recent rain storm in San Diego, how they met each other and got into the real estate game, their first deal: a 32-unit property in Indianapolis, what Shawn and Mike Tighe (his business partner) are currently focused on, Bonus ADUs in San Diego, being bullish on San Diego and ADUs, current market trends, landlord tenant laws, investing in San Diego, the synergy Shawn and Rich still have, the top ten states with high income taxes, and property insurance.They then reflect on cashing out their 401ks, Shawn’s new book “California Gold,” the stress of working as an Air Traffic Controller (ATC), the dangers of working graveyard shifts, the craziest stories they had as ATCs, Mike Tighe’s piloting skills, whether you can actually retire off of a 401k, the evergreen cashflow of real estate, the government profiting off of 401ks, and S&P Index Funds. Lastly, Rich and Shawn talk about the trains of San Diego, what Shawn and Mike started focusing on after Rich left the partnership, a deep dive into Bonus ADUs, Takeoff Capital’s 10-unit Ocean Beach apartment complex,  Takeofff Capital’s deal in Pacific Beach, appealable and non-appealable coastal zones, Rich’s new 3-Story ADU in Little Italy, underground parking for apartment complexes, third party property management, their 32-unit property in Indianapolis, listing vacancies on Craigslist and Facebook Marketplace, Tenants in Common, and then reflect on the last 5 years of success in real estate.Connect with Shawn on Instagram: @shawn_dimartile--Ready to build your boutique hotel portfolio and take your investing to the next level? Unlock our proven system by joining the Boutique Hotel Mastermind Community. Reserve your spot for a free consultation today: www.hotelinvesting.com. If you're committed to scaling your personal brand and achieving 7-figure success, it's time to level up with the 7 Figure Creator Mastermind Community. Book your exclusive intro call today at www.the7figurecreator.com and gain access to the strategies that will accelerate your growth.Want to invest with Somers Capital and take advantage of high-performing boutique hotel opportunities? Learn more about how to get involved: www.somerscapital.com/invest. Need expert management for your short-term rentals or boutique hotel? Experience unmatched service by scheduling a free consultation with Excelsior Stays today: www.excelsiorstays.com/management.

Rich sits down with Adam Nelson and Braun Thueson - Founders of Top1Percenter, a mentorship program that was created to inspire, influence, and help others to achieve life success, business success, and have success investing in real estate.Rich, Adam, and Braun start off by discussing how Rich first met Adam, how Adam and Braun first got started in sales, traditional door-to-door sales, applying sales principals to all aspects of life, investing in real estate for long term wealth, cultivating a good foundation in real estate, buying real estate during The Great Recession, and the house hacking strategy. They then reflect on the greatest key to success for Adam and Braun over the last two decades, how to offset taxable income, short term rentals in Oklahoma, what real estate is really about, real estate appreciation and principal pay down, what Top1Percenter is all about, the 6 most important pillars of life: money, craft, mind, body, people, and spirit, and the important of gratitude.  Lastly, they talk about the best techniques to elevate fitness, being intentional with morning routines, how to be intentional with all relationships, time blocking, what type of products Adam and Braun sell via Door-to-Door sales, the key to make $100 million in sales, inspiring leaders and finding the right people, sharing equity with employees, and moving the needle. Connect with Adam on Instagram: @adamcnellyConnect with Braun on Instagram: @braunthuesonConnect with Top1Percenter on TikTok: @top1percenter--Ready to build your boutique hotel portfolio and take your investing to the next level? Unlock our proven system by joining the Boutique Hotel Mastermind Community. Reserve your spot for a free consultation today: www.hotelinvesting.com. If you're committed to scaling your personal brand and achieving 7-figure success, it's time to level up with the 7 Figure Creator Mastermind Community. Book your exclusive intro call today at www.the7figurecreator.com and gain access to the strategies that will accelerate your growth.Want to invest with Somers Capital and take advantage of high-performing boutique hotel opportunities? Learn more about how to get involved: www.somerscapital.com/invest. Need expert management for your short-term rentals or boutique hotel? Experience unmatched service by scheduling a free consultation with Excelsior Stays today: www.excelsiorstays.com/management.

On today's "Saturday Edition" episode, Rich is joined by co-hosts Adam Nelson and Braun Thueson - Founders of Top1Percenter, a mentorship program that was created to inspire, influence, and help others to achieve life success, business success, and have success investing in real estate.  They answer the top question of the week that was sent in by our listeners. Rich, Adam, and Braun discuss how to be successful in door-2-door (d2d) sales. They analyze what the first step of d2d sales should be, what training looks like for d2d sales, identifying leaders, and immersing yourself into a business culture. They also discuss the importance of business, how to identify the right customer, if you should skip specific types of homes, and Adam shares his most uncomfortable experience with a d2d sale. Lastly, they speak on transitioning from a no to a yes, indecision in business, effective ways to break preoccupation, establishing trust and being organic, effectively closing a deal, and overcoming objection to price.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 Adam on Instagram: @adamcnellyConnect with Braun on Instagram: @braunthuesonConnect with Top1Percenter on TikTok: @top1percenter--Ready to build your boutique hotel portfolio and take your investing to the next level? Unlock our proven system by joining the Boutique Hotel Mastermind Community. Reserve your spot for a free consultation today: www.hotelinvesting.com. If you're committed to scaling your personal brand and achieving 7-figure success, it's time to level up with the 7 Figure Creator Mastermind Community. Book your exclusive intro call today at www.the7figurecreator.com and gain access to the strategies that will accelerate your growth.Want to invest with Somers Capital and take advantage of high-performing boutique hotel opportunities? Learn more about how to get involved: www.somerscapital.com/invest. Need expert management for your short-term rentals or boutique hotel? Experience unmatched service by scheduling a free consultation with Excelsior Stays today: www.excelsiorstays.com/management.

Rich sits down with Elliott Caldwell - Entrepreneur, Real Estate Investor, CEO, and Co-Founder of Home Team Vacation Rentals.  On April 1st, 2022 Elliott sold his previous business.  After a 2-3 month hiatus Elliott started a management company (Home Team) with Michael Elefante. In 16 months Home Team has become one of the fastest growing property management companies in the country with over 320 properties under management.  Home Team has also launched Home Team Design and is soon launching their first fund through Home Team Capital to invest in luxury Airbnbs.Rich and Elliott start off by discussing what Elliott does in the short term rental space, Elliott’s first company - a high school fundraising business, managing 300+ properties, providing value for Investors, Michael Elefante, the biggest challenge that Elliott’s company has faced, the challenges of accounting in-house, automated services and their benefits, the rundown of how Elliott’s company operates, and working with turnkey clients.They then reflect on the over-saturation of Airbnb, performing in over-saturated markets, Rich’s luxury Airbnb in Scottsdale, the opportunity to buy rentals in San Diego, how markets will vary, when and why consumers will stay in short-term rentals versus hotels, the boutique hotel model, where Elliott sees his company heading in the next few months, starting real estate funds, and when to effectively utilize debt.Lastly, Rich and Elliott talk about a new deal that Michael has in the works, the 20% rule, buying property management companies and what that looks like, the importance of the relationship between buyers and sellers, the retention rate of Elliot’s clients when they merged companies, what Elliot’s operations team looks like, dynamic pricing, scaling up companies, working with Somerled Designs, the current market trajectory, and the turnkey model. Connect with Elliott on Instagram: @elliottcaldwell--Ready to build your boutique hotel portfolio and take your investing to the next level? Unlock our proven system by joining the Boutique Hotel Mastermind Community. Reserve your spot for a free consultation today: www.hotelinvesting.com. If you're committed to scaling your personal brand and achieving 7-figure success, it's time to level up with the 7 Figure Creator Mastermind Community. Book your exclusive intro call today at www.the7figurecreator.com and gain access to the strategies that will accelerate your growth.Want to invest with Somers Capital and take advantage of high-performing boutique hotel opportunities? Learn more about how to get involved: www.somerscapital.com/invest. Need expert management for your short-term rentals or boutique hotel? Experience unmatched service by scheduling a free consultation with Excelsior Stays today: www.excelsiorstays.com/management.

Real Estate Syndication Attorney Mauricio Rauld and Rich discuss 2024 LLC changes, including the Corporate Transparency Act and Texas becoming a charging order state. They analyze the impact on LLC owners and speculate on the government's reasons for the changes.

Rich sits down with Mauricio Rauld - Real Estate Syndication Attorney and Founder/CEO of Premier Law Group. Known as one of the few lawyers that actually speaks English, Mauricio helps real estate syndicators, and those looking to tokenize their real estate offerings, stay out of jail by ensuring full compliance with Federal and State securities laws. Mauricio was recently featured on the cover of the Top 100 Magazine as a Top 100 Attorney and has previously been recognized as one of the top California attorneys under 40 by SuperLawyers magazine.Mauricio acts as legal advisor to KenMcElroy.com (Rich Dad Advisor and owner of 10,000 Units) and represents real estate syndicators, like Robert Helms (host of TheReal Estate Guys™ Radio Show) and Brandon Turner (former host of the Bigger Pockets podcast).Rich and Mauricio start off by discussing Mauricio’s plan for a new podcast, how Bethany LaFlam introduced Rich and Mauricio, how Bethany and Mauricio met, how to structure LLCs to prevent from liability, the definition of an LLC, non-charging states and how they vary, new LLC changes under the Corporate Transparency Act, the various filing companies to use, prime corporate services, major updates to asset protections and charging orders in 2024, and the benefits of having living trusts.They then reflect on the differences between a will and a trust, the differences between a revocable and irrevocable trust, the issues with only having an insurance policy, an incident that happened at one of Rich’s properties, umbrella policies, being diligent when filling out paperwork and insurance claims, syndicating with multiple investors, paying other to raise money for you, raising money for boutique hotels, being a passive investor, accredited and non-accredited investors, pre-existing relationships according to the SEC, 506b and 506c exemptions, documenting every step of the way, if social media is considered advertising, the steps to switching between exemptions, advertising under 506c, syndicating for boutique hotels, and keeping an open fund. Lastly, Rich and Mauricio talk about Grant Cardone, Reg A exemptions and how they work, debt funds, and potentially creating a boutique hotel mastermind event with InvestorGirlBritt.Connect with Mauricio on Instagram: @mauriciorauldBook a free call with Prime Corporate Services to create a business strategy primecorporateservices.com/richsomers--Ready to build your boutique hotel portfolio and take your investing to the next level? Unlock our proven system by joining the Boutique Hotel Mastermind Community. Reserve your spot for a free consultation today: www.hotelinvesting.com. If you're committed to scaling your personal brand and achieving 7-figure success, it's time to level up with the 7 Figure Creator Mastermind Community. Book your exclusive intro call today at www.the7figurecreator.com and gain access to the strategies that will accelerate your growth.Want to invest with Somers Capital and take advantage of high-performing boutique hotel opportunities? Learn more about how to get involved: www.somerscapital.com/invest. Need expert management for your short-term rentals or boutique hotel? Experience unmatched service by scheduling a free consultation with Excelsior Stays today: www.excelsiorstays.com/management.