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The Rich Somers Report

Latest episodes

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Nov 2, 2023 • 1h

He Owns 28,000 Apartment Units and $10.8 Billion of Real Estate | Jeff Gleiberman E104

Rich sits down with Jeff Gleiberman - President of MG Properties. He is responsible for overseeing investment transactions, operational strategies, and partner relations. During Jeff’s tenure, MG Properties has flourished into an NMHC Top 50 Apartment owner with over 28,000 units, 880 Employees, and $10.8 Billion in Real Estate.Rich and Jeff discuss what kinds of markets MG Properties is in, the variance of multi-family markets across the US, the tax advantages of real estate investing, 5 and 10-year-holds, the current rate environment and the Chatham forward curve, variable vs. fixed rate debt, the cap rates of the 2010s, A-Class vs. B and C-Class Properties, and the exit plans and buyer pools for MG Properties.They also reflect on the current trajectory of fixed rate debt buyers, which buyers are currently in the market and why, what Jeff’s smallest property is, Jeff’s market projections, coastal and desert markets, the biggest deal MG Properties has made, the San Diego market, the single mistake MG Properties has made, how to effectively increase cashflow, and current construction costs.Lastly, Rich and Jeff talk about the amount of demand in the multi-family market since the ‘90s, how renters have become more financially savvy, cultivating bonds with investors, the importance of property management, the necessity of on-site managers for multi-family properties in California, value-add projects for newly purchased properties, the importance of online reviews, rent increases, 1031 exchanges, and what advice Jeff would give to his 25-year-old self.Connect with Jeff: jgleiberman@mgproperties.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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Oct 31, 2023 • 51min

He’s Starred in Multiple Seasons of Bravo’s Top Chef & Successfully Opened 30+ Restaurants | Brian Malarkey E103

Rich sits down with Brian Malarkey - a chef, restaurateur, cooking instructor, and creator of 15 separate restaurants across the United States. In 2012 he sold majority stake of his first restaurant group (Searsucker and Herringbone) to global Hakkasan Group for $25 million. He’s opened 10 different concepts in 5 years, including the nationally acclaimed Herb & Wood and Animae. Brian has appeared as a regular judge for shows like Food Network’s Guy’s Grocery Games, Tournament of Champions, and ABC’s The Taste. He was also a contestant on Top Chef (Season 3) and Top Chef All-Stars (Season 17).Rich and Brian discuss how they first met, how Brian got his start as a chef, how Brian met Tony Hawk, the restaurant scene in San Diego, Richard Blais, the difficulty of mastering the restaurant experience, investing in the restaurant industry, and Brian’s newest restaurant Le Coq.They also reflect on Brian’s San Diego based restaurants, high profit margins for restaurants, preserving the restaurant experience, building relationships with customers, Brian’s experience during COVID, and his recent release of Chef’s Life Oil to completely replace extra virgin olive oil.Lastly, Rich and Brian talk about social media, the profit game of the cooking oil industry, introducing new products to restaurants, whether location matters to opening a restaurant, and whether or not guests are price sensitive at restaurants.Connect with Brian on Instagram: @brianmalarkey--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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Oct 28, 2023 • 30min

The Benefits of Podcasting & How to Start Your Own | Saturday Edition E102

On today's "Saturday Edition" episode, Rich answers the top question of the week that was sent in by our listeners. Rich and Alex analyze the benefits of podcasting, Rich shares his experience starting two different podcasts and what he’s learned from them, and Alex reveals some behind-the-scenes info about the podcast. 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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Oct 26, 2023 • 48min

What to Know Before Buying Retail & Office Buildings in the Midwest | Daniel Kong E101

Rich sits down with Daniel Kong - a real estate investor flipping houses out in Hawaii. He was able to retire from his W2  after just 3 years using the BRRRR strategy. By acquiring rentals with no money out of pocket, he was able to replace his salary as a software engineer with passive income. Now he is a full-time investor - Flipping, running AirBnBs, and buying commercial properties in the Midwest. Rich and Daniel discuss the next Beers & Deals real estate meetup host by Somers Capital, their favorite experiences on the Hawaii islands, fix-and-flipping, using the BRRRR strategy on the retail and office spaces, and how to breakdown the cost per space for commercial real estate.They also reflect on what lending looks like for these types of properties, where and when to buy commercial buildings, investing in passion projects with close friends, cap rates and regulations in the current market, Airbnb restrictions and house flipping in Hawaii, the pros and cons of buying short term rentals in blue states, boutique hotels, and how the current lending environment is affecting commercial properties. Lastly, Rich and Daniel talk about the biggest risks in buying commercial properties, competing with Amazon, purchasing recession-proof assets and where Daniel sees the most potential in the next few years.Connect with Daniel on Instagram: @danielkong808--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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Oct 24, 2023 • 48min

How To Be A Higher Value Partner in Dating & Relationships | Michael Sartain E100

Rich sits down with Michael Sartain - Performance Coach, Air Force Navigator and Instructor, and Host. In 2019, Michael created Men of Action, a program that dedicates its time to teaching men how to increase their status, build an abundant lifestyle, find elite friends, and attend VIP events in under 25 days. Men of Action has had 400+ success stories. Michael is also the host of the Michael Sartain Show podcast.Rich and Michael discuss meeting Miss Nevada - Lisa Song Sutton, how Michael’s nightclub promoter experience developed early on, traditional VIP experiences at night clubs, evolutionary psychology, how money is an allegory for survival and competency, new age feminism, and what women look for in viable partners.They also reflect on what the Men of Action course teaches, what men look for in viable partners, who should pick up the bill on a date, how money creates the reality that you want, and how to introduce yourself to others at bars.Lastly, Rich and Michael talk about “dad bods” and comfort cues, the two attractive attributes that a majority of women like in men, 3 recommendations for men to become more attractive, and how fame relates to the dating lifestyle. Connect with Michael on Instagram: @michaelsartain--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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Oct 21, 2023 • 19min

Are Relationships or Strategy More Important in Real Estate Investing? | Saturday Edition E99

On today's "Saturday Edition" episode, Rich answers the top question of the week that was sent in by our listeners. Rich and Alex analyze how much of real estate investing is based on who you know vs what you know, and Rich shares an anecdote about a new opportunity in the Pacific Northwest. If you have a question you'd like answered, please email infoSomerscapital.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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Oct 19, 2023 • 1h 9min

The Apartment Rockstar Shares His Market Forecast & Biggest Mistake Made Across 4,500 Units | Robert Martinez E98

Rich sits down with Robert Martinez - Founding Principal and CEO of Rockstar Capital. Robert has directed the growth of Rockstar Capital to 21 apartment communities, a total of 4,800 rental units across the state of Texas. Since 2011, he has directed the underwriting, acquisition, and management of 30 apartment communities consisting of more than 5,243 rental units. In 2023, third party company, MF1, filed to foreclose on a Rockstar Houston property, defaulting on a $51 million multi-family loan.Rich and Robert discuss the fallout of the current high interest rate environment, the foreclosure on Rockstar’s $51 million loan, rate caps in Texas, potential ways to save deals from falling under, and all of the risks of using third party management companies for a property. They also reflect on the attractive nature of Airbnbs, updating investors when the rug is pulled out from a deal, in-house recruiters and transitioning teams to maximize turnover, setting standards for new employees, and putting a spotlight on weak KPIs. Lastly, Rich and Robert talk about all-things operations, rent growth, occupancy and supply in Texas, how Robert got his start in real estate, raising equity while working a full-time job, the 2008 Recession, Robert’s best deal he’s ever done, what it take’s to be successful, floating vs fixed rate debt, where Robert predicts interest rates will be by 2025, and what types of properties Rich is most excited about in the next 12 months.  Connect with Robert on Instagram: @apartmentrockstar--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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Oct 17, 2023 • 1h 6min

90% of Millionaires Are Created From Real Estate, 100% of Billionaires Are Created From Private Equity | Kris Krohn E97

Rich sits down with Kris Krohn - a Best Selling Author, Business Coach, Real Estate Investor, and Mentor. Kris is an expert wealth coach with 5,000 real estate deals, numerous businesses, and growing influence. Rich and Kris discuss Kris’s beginnings, his financial influences & first financial failure, Kris’s first real estate deal at 23, and his current asset portfolio. They also reflect on automation in business, Kris’s investments in real estate and private equity, and why Millennials and Gen Z want to create experiences. They dive into how Kris optimizes his health and time, delegating out tasks to the best experts, views on the public school system and “world” schooling - private education without a private school, and whether entrepreneurs should go to college.Lastly, Rich and Kris talk about Kris’s recent trip with his family to the Galapagos island, the tax benefits of owning jets, how Kris’s "why" has transformed over the last 5 years, the motivation to redistribute wealth on their own terms, what a successful team looks like, batching social media content, and what’s next for Kris Krohn.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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Oct 14, 2023 • 21min

Should You Start Your Own Meetup? | Saturday Edition E96

On today's "Saturday Edition" episode, Rich answers the top question of the week that was sent in by our listeners. Rich and Alex discuss the benefits of starting a real estate networking event, if it’s worth it and how to get started. They also discuss how Somers Capital’s own meetup, Beers & Deals, began and how it’s evolved over the last 5 years.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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Oct 12, 2023 • 53min

He’s a Musician & Song Writer Who’s Found a Passion in the Airbnb Space | Gabe Kubanda E95

Rich sits down with Gabe Kubanda - an alt-pop artist, singer/songwriter, co-creator of the Epic Proportions Tour, playing well over 750 shows on multiple continents, founder of the Non Profit “EduMusication” program promoting music education in schools, and Kubanda Properties, amassing vacation homes and rental cars in niche markets.Rich and Gabe discuss the intricacies of hosting vehicles on Turo, a car sharing marketplace, how Gabe got his start in the music industry and created with a group of fellow bands, and just how profitable being a musician actually is. They also reflect on being on the road, record labels, the collaborative experience of songwriting, being a content creator, Airbnbs, COVID, and the differences between arbitraging and cohosting. Lastly, Rich and Gabe talk about what a successful team looks like, the best automated services for rental properties, and what Gabe is looking forward to in the real estate space moving forward.  Connect with Gabe on Instagram: @gabekubanda--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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