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The Rich Somers Report

Latest episodes

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Oct 10, 2023 • 1h 12min

He’s a Luxury Developer Who’s Transacted Over $600M of Real Estate | Nick Marietta E94

Rich sits down with Nick Marietta - a Real Estate Investor, Luxury Builder, and Fix & Flip Expert. He’s got over $600,000,000 in Construction & Real Estate transactions.   Rich and Nick discuss Nick’s connection to the Coach and Best Selling Author, Wes Watson, how Nick got his start as a Luxury Fix-and-Flipper, the extent of his wholesale deals across the country, and where Nick sees the most success in the market right now.  They also reflect on what it takes to flip a luxury home, “blue hair” modeling and staging homes, and Nick shares an anecdote about a recent car accident and how he’s overcome the challenges of it’s impact.  Lastly, Rich and Nick talk about health & wellness and how it pertains to self development and inner peace, Rich reveals a trip that he’ll be taking soon to visit Kris Krohn and Robert Martinez, the benefits of masterclasses and education programs, and Nick quizzes Rich about his own portfolio and real estate journey.  Connect with Nick on Instagram: @therealnickmarietta--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 7, 2023 • 35min

Two Major Real Estate Opportunities Nobody is Talking About | Saturday Edition E93

On today's "Saturday Edition" episode, Rich answers top questions of the week that are sent in by our listeners. Rich, Alex, and Jennifer discuss the biggest opportunities in the boutique hotel investing space right now, relaunching boutique hotels after closing, and the experience required in order to buy boutique hotels.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 5, 2023 • 1h 20min

What You Need to Know About Boutique Hotel Investing | (Hosted by Ryan Pineda) E92

Today, join Rich as he guests on The Wealthy Way Podcast hosted by Ryan Pineda where they discuss marketing strategies, the pros and cons of listing hotels on Airbnb, the rise of shared experiences at restaurants, the Liver King, the importance of surrounding oneself with like-minded individuals, health and fitness, and celebrity golf tournaments. Rich also shares his expertise on boutique hotels and podcasting.Connect with Ryan on Instagram: @ryanpineda--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 3, 2023 • 1h 10min

Replacing Your 9-5 Income w/ Short-Term Rentals & Should You Cash Out Your 401K? | Michael Elefante E91

Rich sits down with Michael Elefante - a real estate investor, entrepreneur and social media influencer. Michael is the founder of BNB Investor Academy, a coaching program that has helped over 1,200 people find, invest in, design and manage short term rentals successfully. Michael became financially free at age 27, just one year after making his first investment into real estate. Within three years, he and his wife, Jill, have accumulated seven short term rental properties that bring in over $1M per year in rental income. He's found his true passion in helping others achieve financial freedom through short term rental investments. Rich and Michael discuss Michael’s recent trips across the world with his family, his recounting of cashing out his 401K, buying his first short term rental, and risky investments.  They also reflect on incremental progress, real estate investing as a side venture, using a short-term rental as a second home, growing management businesses, Michael’s connection to Somerled Designs, how to maximize investments when starting out, the current rate environment, and unique selling propositions.  Lastly, Rich and Michael talk about ownership changes, seller finance companies, creating content for social media, abundance mindsets, and what Michael is most excited about right now.  Connect with Michael on Instagram: @melefante6--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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Sep 30, 2023 • 20min

Should You Buy For Cash Flow or Appreciation & Biggest Challenges of Buying Hotels | Saturday Edition E90

On today's "Saturday Edition" episode, Rich answers top questions of the week that are sent in by our listeners. Rich and Alex discuss why real estate investing isn’t taught in schools, high cashflow vs high growth markets, and current trends in the Airbnb and Boutique Hotels spaces.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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Sep 28, 2023 • 43min

Investing in Affordable Housing & Is the Middle Class Mindset “Intentional”? | Karl Gorman E89

Rich sits down with Karl Gorman — the founder and CEO of GLH LLC; Managing Partner of Valhalla Capital; Co Founder of Black Future Foundation and board member of The University Club Atop Symphony Towers. Karl has been recognized as Top 50 Most Influential leader and has over 20 years of Corporate American experience where he worked for a few of the largest financial institutions in the world. He’s currently working on a $3B international lending company and running several multiple million dollar real estate projects.Rich and Karl discuss Karl’s journey with, and the intricacies of affordable housing, 1031 exchanges, Airbnbs, returns on investments, and a deep dive in Section 8 housing. They also reflect on tax abatements and tax credits, building generational wealth, capital stacking, the differences in permit processes between states, being a board member of The University Club, and Karl’s initiative to aid young black people in getting through college and learning financial literacy. Lastly, Rich and Karl talk about what an underfunded founder looks like in venture capital.  Connect with Karl on Instagram: @glh_capital--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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Sep 26, 2023 • 1h 44min

From Broke to $400 Million in Real Estate | Tyler Deveraux E88

Rich sits down with Tyler Deveraux -a sought-after international speaker, 9 figure Co-Founder & CEO of MF Capital Partners and Multifamily Mindset, an education company providing investors with guidance to acquire properties, and co-host of The Growthcast Podcast.Rich and Tyler discuss their first time meeting each other, Tyler’s mom's van being repossessed, how Tyler found his first multifamily deal, and how to unlock future growth. They also talk about being in the right room, raising and protecting capital, cap rates and market forecasts, the biggest challenges of transactions, the scarcity vs abundance mentalities, how to utilize resets, cutting off and reconnecting with friends, the most inspirational figures in the real estate investment world, and how money is a tool to create relationships. Lastly, Rich and Tyler reflect on Tyler’s experience living in Maui and his billion dollar goals. Connect with Tyler on Instagram: @tyler_deveraux--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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Sep 23, 2023 • 24min

Real Estate Market Forecast & Do You Need Money to Make Money? | Saturday Edition E87

On today's episode, we're doing the "Saturday Edition" where Rich answers top questions of the week that are sent in by our listeners. Rich and Alex discuss spending money to make money, the best areas in the US to invest in today, and what keeps the fire going everyday. 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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Sep 21, 2023 • 1h 4min

What You Need to Know About Raising Money for Real Estate w/ Top SEC Attorney | Bethany LaFlam E86

Rich sits down with Bethany LaFlam - an entrepreneur, a seasoned deal lawyer, a mother, and a visionary. With more than 20 years of experience practicing law, Bethany has leveraged that expertise into her business life. In her role as Managing Partner of Premier Law Group, Bethany focuses primarily on real estate syndications and funds, helping syndicators build their empires by safely leveraging OPE (Other People's EVERYTHING). Rich and Bethany discuss Bethany’s background, how to leverage scaling businesses while following SEC guidelines, SEC Regulation A Offerings, and the differences between a 506b and 506c offering. They also talk about what it means to find the right investor, single asset syndication businesses and building a fund, her journey in creating an AI platform on the block chain to aid investors in building a portfolio, and Bethany’s plan for her syndicated 11-unit Boutique Hotel in Belize. Lastly, Rich and Bethany review investing with the IRA model and the debt fund model.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.
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Sep 19, 2023 • 51min

How to Value, Acquire, and Optimize Small Businesses | Greg Wilson E85

Rich sits down with Greg Wilson - CFO, Investor, Coach, and CPA. Greg’s career has spanned over 14 years and he’s raised over $200 million in private capital. He’s the founder of the E-commerce Accelerator, an online course and accelerator program designed to help e-commerce businesses succeed. Additionally, Greg serves as a managing partner at Precision Financial, a firm providing accounting, CFO, and consulting services to businesses. Greg is also an enthusiastic private investor in businesses, startups, funds, cryptocurrencies, and other non-traditional investments. His previous role included serving as CEO of the Colorado Division of a national financial consulting firm. Rich and Greg discuss Greg’s background, e-commerce, all things pickleball, and what it takes to successfully raise capital. They also talk about what it means to find the right investors, using credit in the right way, how to correctly value and exit a business, building a brand, laundromat businesses, and testosterone therapy.Connect with Greg on Instagram: @thegregmwilson--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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