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The Rich Somers Report

Latest episodes

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Jul 11, 2023 • 44min

How Miss Nevada Makes $2,000,000 a Year from Mini-Mailboxes | Lisa Song Sutton E64

In today’s episode, Rich sits down for an interview with special guest Lisa Song Sutton – real estate investor and entrepreneur with a family office of $60M AUM. Lisa is former Miss Nevada, and now she's found a creative way to make $2 million a year through mailboxes. With a background in business litigation, Lisa began her career working in a top Las Vegas law firm before launching and scaling several companies across various industries including real estate, food and shipping retail. As the daughter of a USAF Vietnam War Veteran, Lisa is a strong advocate for the veteran community. She is currently a General Partner of The Veteran Fund, a $20M pre-seed venture capital fund that invests in veteran-led and military-spouse-led companies. Rich and Lisa discuss how she got started in the mailbox business, her current ventures in the real estate investment space, and key tips for entrepreneurs to stay focused with so many different distractions. They also dive into how her time as Miss Nevada allowed her to make such an impact in her community and led to many strong business connections & relationships that she still has 9 years later. Connect with Lisa on Instagram: @lisasongsutton Find more information about Lisa at www.lisasongsutton.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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Jul 6, 2023 • 53min

He’s Buying a 130 Unit Hotel & Why Lack of Time is Not an Excuse | Blake Dailey E63

In today’s episode, Rich sits down with special guest Blake Dailey. Blake is a boutique hotel and STR investor as well as an active duty Air Force officer. He started investing in short-term rental houses with ADUs and scaled quickly into commercial real estate. After surpassing his W2 income with his cash flow, Blake pivoted to commercial multifamily and syndicated his first large apartment deal. Combining his experience with raising money, doing commercial deals, and BRRRRing STR properties, Blake jumped into commercial short-term rentals with converting run-down hotels/motels into renovated boutique hotels. Blake has a $20M portfolio of apartments, 5 boutique hotels, and a mix of short-term rentals homes across California, Florida, and Utah. Rich and Blake dive into their similar paths from government workers to investors, the opportunities within the boutique hotel space, and key advice on the operations/management side of the business. They also talk about the importance of aligning yourself with those that will help and encourage you grow to your full potential.Connect with Blake on Instagram: @blakejdailey--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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Jul 4, 2023 • 51min

How to Decide Which Real Estate Investing Path is Right for You | Omar Alfaro E62

In today’s episode, Rich sits down for an interview with Omar Alfaro – wholesaler, flipper, real estate broker & investor with 21 years of experience in the real estate space. He discusses the various aspects of his business, including buying & flipping houses, holding rentals & STRs, and developing property. They talk about the impact of the current interest rate environment on the real estate industry, the concept of “buying properties deeper”, and their thoughts on people being property rich but cash poor. Omar shares valuable tips for beginners interested in house flipping, such as finding deals at significant discounts and establishing relationships with sellers for off-market opportunities. They also dive into how to determine which deals to hold and which ones to flip, the Airbnb revenue collapse, and the importance of taking care of your database.Connect with Omar on Instagram: @investwithomar--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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Jun 29, 2023 • 17min

Is the Airbnb Revenue Collapse Real? And Will Boutique Hotels Be The Next Big Thing? | E61

In today’s episode, Rich is doing a deep dive into the current “Airbnb Revenue Collapse” that’s been sweeping the internet and social media. He challenges the questions – Is it real? Where did these facts come from? Is it the best time to get into this asset class? He pulls up some live data to compare the actual numbers with those that are being posted online, and also gives the listeners some key tips for doing their own research in order to find successful short-term rentals. --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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Jun 27, 2023 • 47min

He Owns Multiple 7 Figure YouTube Businesses | Will Grimes E60

In today’s episode, Rich is joined by special guest, Will Grimes, visiting us from Denver, Colorado. Will spent just under 10 years inside of the Marine Corps, then went on to serve his community as a police officer. After police work, Will ventured into entrepreneurship and now he’s a team owner in real estate and owns multiple 7-figure YouTube businesses. From his military mindset and leadership skills, he leverages educating others through YouTube and focuses on bringing value to his audience. Rich and Will dive into how his background led him to where he is today, speaking your truth even if it goes against the popular opinion, and finding your purpose as an entrepreneur. They also talk about the importance of establishing an online presence to provide value to others with no obligation for someone to call or buy a service. Connect with Will on Instagram: @will_grimes--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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Jun 22, 2023 • 35min

Interest Rates, Inflation, and How AI Technology is Disrupting the Economy | Vinny Lingham E59

In today’s episode, Rich is joined by Vinny Lingham – tech investor, serial entrepreneur, and groundbreaker in the AI space. Vinny was born and raised in South Africa, studied at the University of Cape Town, and in 2003 started a business in his bedroom that quickly became one of the leading technology companies in South Africa. He moved to California in 2008, and has been grinding and building different companies ever since. Rich and Vinny discuss the key to success for those wanting to start their own businesses, today’s interest rate environment, their thoughts on inflation, as well as the recent bank collapses. Vinny also talks about his company, Waitroom, a video conferencing platform powered by AI and how he feels it will affect the labor force in the next 12 to 18 months. He shares which job functions he predicts will be replaced by AI and a few key takeaways on how we can adapt and use the technology to our advantage moving forward.Connect with Vinny on Instagram: @vinnylingham--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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Jun 20, 2023 • 60min

The Middle Class Mindset Debunked & Why Most People Will Never Invest in Real Estate | Jorge Contreras E58

In today’s episode, Rich sits down for an interview with Jorge Contreras – short-term & mid-term rental investor, ground up developer, and Airbnb arbitrage & purchasing coach. Since 2017, Jorge has been operating short-term rentals, and this year he closed on his first ground-up development project. Before real estate investing, he and his wife were working long hours at their day jobs, and he was determined to find a way to financial freedom. Now he’s been able to retire himself, his wife, and his mom, and he’s passionate about helping others break free from the 9-to-5 shackles so they can do whatever is aligned with their purpose and what they were born to do. Rich and Jorge discuss key plays right now in the high interest rate environment, their responses to those that discourage investing in California, and the government & school system’s goals of creating employees. They talk about the importance of mindset and surrounding yourself with the right people instead of “dream killers” in order to become the greatest version of yourself and reach your full potential.Connect with Jorge on Instagram: @thejorgecontreras--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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Jun 15, 2023 • 10min

Should You Use Your 401K or IRA to Invest in Real Estate? | E57

Exploring using 401k and IRA for real estate investment, analyzing drawbacks and benefits. Discussing average 401k balances, retirement challenges, and alternative investment options. Exploring penalties for early withdrawals and opportunities with self-directed IRAs for real estate investments.
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Jun 13, 2023 • 29min

Making $300,000 per Year on YouTube | Spencer Cornelia Pt. 2 E56

In part 2 of Rich’s interview with Spencer Cornelia – Real Estate Investor, “House Hack King”, and YouTuber from Las Vegas, they dive deeper into his YouTube channel that boasts 485k subscribers and brings in $300k a year. They talk about one of the videos he created on "Why NBA Players Go Broke", and the reasons why these athletes would be much better off putting their money into real assets. Spencer shares about his most viral video with 200M+ views, a few secrets on how he discovers his information during due diligence, and the key to putting a successful video on YouTube. They also discuss current controversy surrounding Grant Cardone and Spencer’s motives & incentives when creating a video that exposes someone. Follow Spencer on Instagram: @spencercornelia1--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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Jun 8, 2023 • 32min

Why "House-Hacking" Might Be the Easiest Way to Build Wealth Through Real Estate | Spencer Cornelia Pt. 1 E55

In today’s episode, Rich sits down for an interview with Spencer Cornelia – Real Estate Investor, “House Hack King”, and YouTuber from Las Vegas. Spencer got into real estate investing in 2015 when he moved to Vegas from Oakland and met a buddy who rented out rooms in his place in order to live for free while also generating some additional cash flow. He then discovered the concept of house hacking through the Bigger Pockets forums and bought his first condo. They dive into Spencer’s experience flipping houses and losing a bit of money with the wrong contractor, dipping into the midwest markets, lessons learned and what he would have done differently on those flips. They discuss advice for listener’s looking to do their first house hack, techniques for finding great tenants & setting boundaries, and the complexities of landlord-tenant laws. Spencer also shares the craziest roommate story he has (one of the many) which ended with cops and handcuffs. --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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