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The Rich Somers Report

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Jan 11, 2024 • 45min

How To Protect Yourself From Liability As A Real Estate Investor | Mauricio Rauld E134

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.
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Jan 9, 2024 • 29min

Why Are We Waiting? | Rick English E133

Rich sits down with Rick English - CEO, CFO, COO, VP of Operations, and now the founder of UP Advisors. After 22 years of experience as a business manager, Rick founded UP Advisors, a Business Consulting and Coaching program. Through his coaching, Rick works with entrepreneurs and companies who are burned out and need fresh insights.Rich and Rick start off by discussing Rick’s trip to California, Rich’s upbringing as an entrepreneur, how Rich and Rick got connected, the EOS program, the types of clients that Rick works with, working with other who are accountable, the typical issues that clients will have, generating profit and the importance of time, the mom and pop mentality, and Dan Martell’s 1-3-1 method.They then reflect on the tools and tips to effectively grow a business, the effective use of AI, clarity of goals, tools of accountability, effectively creating budgets, shifting roles in small business and the #1 skillset of successful entrepreneurs. Connect with Rick via email: renglish@myupadvisors.com--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.
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Jan 6, 2024 • 11min

How Business Owners Value Their Time | Saturday Edition E132

On today's "Saturday Edition" episode, Rich is joined by co-host Rick English who, after 22 years of experience as a CEO, CFO, COO, and VP of Operations, founded UP Advisors, Business Consulting and Coaching. Rich and Rick answer the top question of the week that was sent in by our listeners. Rich and Rick discuss how Rick’s clients can effectively calculate the value of their time, targeting the right audiences, premium services deserving premium prices.  They then analyze price changing strategies, the client qualifying process, and the impact of effective time management. 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 Rick via email: renglish@myupadvisors.com--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.
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Jan 4, 2024 • 32min

How To Buy Your First Boutique Hotel in 2024

We’re back in the studio for 2024! On today's episode, Rich highlights his holiday break. He then offers his advice on why you should buy boutique hotels, the steps to take in order to buy boutique hotels, and what it takes to operate a boutique hotel. Rich then provides examples of several successful boutique hotels he’s bought and how Somers Capital got into the boutique hotel space.--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.
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Jan 2, 2024 • 1h 2min

Confronting Grant Cardone about Running For President | E130 Grant Cardone

Happy New Year! On today's episode, Rich reveals the #1 spot for the most downloaded episodes of 2023: Grant Cardone (This episode is a re-run. Original airdate was on May 25th, 2023)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.We’ll be back with our regular content on January 4th, 2024!Connect with Grant on Instagram: @GrantCardoneIf you have a question you'd like answered, please email info@somerscapital.com--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.
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Dec 30, 2023 • 1h 6min

Utilizing Creative Finance to Build a $300M Portfolio | Pace Morby E129

Happy Holidays! On today's episode, Rich reveals the #2 spot for the most downloaded episodes of the year: Pace Morby  (This episode is a re-run. Original airdate was on April 27th, 2023)Pace Morby is a creative real estate investor, expert in “subject to” and host of A&E’s Triple Digit Flip TV Show. Pace is the founder of Subto, a thriving real estate education program and community that teaches creative financing strategies to real estate investors of all experience levels in order to do deals without cash, credit, or credentials, and also has a bestselling book, Wealth Without Cash, that was recently released with BiggerPockets.Check in on Tuesday (1/2) to see who’s the #1 spot!Connect with Pace on Instagram: @PaceMorbyIf you have a question you'd like answered, please email info@somerscapital.com--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.
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Dec 28, 2023 • 48min

The King of Debt Reveals How to Successfully Build Your Credit Portfolio | Jack McColl E128

Happy Holidays! On today's episode, Rich reveals the #3 spot for the most downloaded episodes of the year: Jack McColl.  (This episode is a re-run. Original airdate was on July 25th, 2023)Jack, the founder of Credit Stacking, scaled from zero business credit to $500k in approved credit in just over 1 year, which he’s used to fund a variety of new businesses and investments. He now teaches his unique framework to over 2,000 entrepreneurs, helping them get access to hundreds of thousands of dollars of 0% interest capital so they can start a business, scale a business, or finance any type of investment. He shows others how to optimize their credit profile and make themselves look attractive to lenders without showing any financials, including tax returns, bank statements, or verified income.Check in on Saturday (12/30) to see who’s the #2 spot!Connect with Jack on Instagram: @KingofDebt--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.
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Dec 26, 2023 • 1h 6min

You Deserve to Have It All | Kris Krohn E127

Happy Holidays! On today's episode, Rich reveals the #4 spot for the most downloaded episodes of the year: Kris Krohn.  (This episode is a re-run. Original airdate was on October 17, 2023)Kris is a Best Selling Author, Business Coach, Real Estate Investor, and Mentor. He is an expert wealth coach with 5,000 real estate deals, numerous businesses, and growing influence.Check in on Thursday (12/28) to see who’s the #3 spot!Connect with Kris on Instagram: @kriskrohn--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.
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Dec 23, 2023 • 19min

The Progress & Challenges of 2023 and What’s To Come In 2024 | Saturday Edition 126

On today's "Saturday Edition" episode, Rich answers the top question of the week that was sent in by our listeners. Rich and Jennifer reflect on the last year of progress at Somers Capital and what’s to come in 2024. They then analyze what makes for launching a successful boutique hotel, being hospitable, automated management, and the biggest challenges of working in the boutique hotel space.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.
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Dec 21, 2023 • 1h 20min

What it Takes to Win in Every Level of Life | Ryan Pineda E125

On today's episode, Rich reveals the #5 spot for the most downloaded episodes of the year: Ryan Pineda. (This episode is a re-run. Original airdate was on August 29, 2023)Ryan is a serial entrepreneur and the CEO of seven different 7-8 figure businesses. In addition to that he owns 500+ rental properties, has received 500M+ views on social media, and is a retired pro baseball player. He also hosts The Wealthy Way Podcast, where he interviews top experts in business, health, faith, and relationships while sharing his own experiences.Check in on Tuesday (12/26) to see who’s the #4 spot!Connect with Ryan on Instagram: @ryanpinedaIf you have a question you'd like answered, please email info@somerscapital.com--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.

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