The Rich Somers Report

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!Join our investor waitlist and stay in the know about our next investor opportunity with Somers Capital: www.somerscapital.com/invest. Want to join our Boutique Hotel Mastermind Community? Book a free strategy call with our team: 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.

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.comJoin our investor waitlist and stay in the know about our next investor opportunity with Somers Capital: www.somerscapital.com/invest. Want to join our Boutique Hotel Mastermind Community? Book a free strategy call with our team: 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.

Rich sits down with Chris Cunningham - Entrepreneur, Business Executive, and Head of Social Marketing of Clickup, a productivity and project management software company he was on the founding team of in 2017. Before founding ClickUp, Cunningham worked as a sales manager at Cvent. He was there as the company went public. Once he reached his ceiling there, he moved on to run FastFollowerz with Zeb Evans. Chris went on to do over 50 million in sales there. He continued on with Zeb to help start ClickUp, a platform that simplifies and streamlines project management for businesses and individuals. He was the companies first sales rep, closing the first big deals in company history from Home Depot, Randstad, and many more.Under Cunningham’s leadership, ClickUp has grown rapidly, attracting over 200,000 users within its first year and expanding to over one million users within its second year. ClickUp has been recognized as a top productivity app by numerous publications and has received funding from notable investors including Craft, Tiger, and AZ16. ClickUp has raised upwards of $400 Million in investor capital and a $4 billion valuation.Rich and Chris start off by discussing an overview of ClickUp, different ClickUp competitors, how ClickUp got it’s start, ClickUp’s first big deals, ClickUp’s biggest challenges, comparative price points, and breakthrough moments.They then reflect on building companies, Home Depot and Randstad, faking it ’til you make it, advertising in San Diego, being a household name, how it get’s easier with every deal, and being a $1 Billion company. Lastly, Rich and Chris talk about the return profile of tech companies, selling companies or going public, where to raise capital, Brad Rice, the types of investors that Chris and ClickUp finds, the next steps for ClickUp, the advantages of project management, comparing CRMs, the Padres and the MLB, and living in South America.  Connect with Chris on Instagram: @cunninghamJoin our investor waitlist and stay in the know about our next investor opportunity with Somers Capital: www.somerscapital.com/invest. Want to join our Boutique Hotel Mastermind Community? Book a free strategy call with our team: 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.

On today's "Saturday Edition" episode, Rich answers the top question of the week that was sent in by our listeners.Rich and Alex reflect on closing the most recent Somers Capital deal up in Lake Chelan, WA and also take a look back at the last year of progress. They then analyze how to create value for real estate properties of all types and Rich shares a few stories about how he’s effectively added value to his own properties.If you have a question you'd like answered, please email info@somerscapital.com. Stay tuned every Saturday to see if it's featured!Join our investor waitlist and stay in the know about our next investor opportunity with Somers Capital: www.somerscapital.com/invest. Want to join our Boutique Hotel Mastermind Community? Book a free strategy call with our team: 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.

Rich sits down with Justin Colby - Real Estate Investor, Entrepreneur, Educator, and Coach. During his 15+ year career as a real estate investor, Justin has flipped over 2400 homes, done wholesaling, and is now getting into the real estate space. He typically buys between 2-5 houses a week.Rich and Justin start off by discussing what Justin currently owns, how’d Justin got his start in house flipping, how Justin runs his team, when to flip or wholesale a home, the BRRRR method, refinancing, the current interest rate market compared to the last 50 years, and creating value.They then reflect on where Justin is currently buying properties, the appreciating market in Florida, when and why someone should exit a deal, the problem with depreciation, Investor Girl Britt, Justin’s newest podcast “Entrepreneur DNA,” Dave Grutman and Brian Malarkey, the worst deal Justin’s ever made, taking risks, the differences between a $200,000 home and $1.1 million home, the magic zip code in Scottsdale, and making mistakes and learning from them.Lastly, Rich and Justin talk about the adrenaline rush built by buying real estate, Justin’s purpose in real estate, happiness stemming from growth and progress, being lonely on the top of a mountain, what Justin’s best deal has been, how to handle lawsuits, and what’s next for Justin.Connect with Justin on Instagram: @thejustincolbyJoin our investor waitlist and stay in the know about our next investor opportunity with Somers Capital: www.somerscapital.com/invest. Want to join our Boutique Hotel Mastermind Community? Book a free strategy call with our team: 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.

Rich sits down with the Justin Brennan - General Contractor, Real Estate Broker, and CEO of The Brennan Pohle Group. Through this group, Justin is focused in the acquisition and development of apartments throughout the United States. With over 500+ units and $110M in assets under ownership, Justin and the team are growing towards 10,000+ units and $4B in assets in the next several years.Rich and Justin start off by discussing surfing and skating, kitesurfing, the differences between mobile home parks and multi-family properties, Warren Buffett, the types of properties Justin owns, Walmart, the most optimal states to buy in, Dave Lindahl, and Justin’s first and biggest multi-family deals.They then reflect on upscaling business, current interest rates in the market, re-financing, Grant Cardone, what it takes to get a deal to the finish line, successful operating techniques, managing managers, Justin’s current opportunity fund, and stacking new equity. Lastly, Rich and Justin talk about rising cap rates, Justin’s market forecast, Tyler Deveraux, Rich’s morning and daily routines, habit stacking, putting out fires as an entrepreneur, pushing themselves out of their comfort zones, the difference between doers and dreamers, risk tolerance, Rich’s biggest fear, and the decrease in life expectancy of men.Connect with Justin on Instagram: @justin.c.brennanJoin our investor waitlist and stay in the know about our next investor opportunity with Somers Capital: www.somerscapital.com/invest. Want to join our Boutique Hotel Mastermind Community? Book a free strategy call with our team: 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.

On today's "Saturday Edition" episode, Rich answers the top question of the week that was sent in by our listeners. Rich and Alex celebrate this week’s soft launch of Hotel Zindel, a San Diego-based boutique hotel. They then analyze the reports that the Feds will have several rate cuts in 2024 and Rich offers his own predictions of where the interest rates will be by December 2024.If you have a question you'd like answered, please email info@somerscapital.com. Stay tuned every Saturday to see if it's featured!Join our investor waitlist and stay in the know about our next investor opportunity with Somers Capital: www.somerscapital.com/invest. Want to join our Boutique Hotel Mastermind Community? Book a free strategy call with our team: 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.

Rich sits down with the Marc Kuhn - Real Estate Investor, Developer, Contractor. Marc started his construction career with his father in 1994. In 2010 he left his hourly job with $2,500 in his account and started MAK Construction, which has now grown to over $25 million a year. MAK Construction develops commercial projects both 3rd party and investment projects for their investors and since 2018 has added over 200 units in the Midwest.Rich and Marc start off by discussing the frigid winters in North Dakota, the benefits of self storage investing, automation and delinquencies in self storage, the biggest risks in self storage, rent control, living in self storage units, and the barriers to developing in self storage. They then reflect on seller financing in self storage, mom and pop self storage businesses, rent growth and cap rates, optimal cities to develop in, the current market, the cashflow in boutique hotels, the ten year strategy, and whether Marc recommends getting into the industry.Lastly, Rich and Marc talk about the differences the between 2023 and the 2008 financial crisis, being risk adverse, education in the self storage space, the development process of self storage, the metrics that Marc looks for in a deal, multi-family housing, how Marc got into self storage, concrete finishing, Grant Cardone, and what it takes to continue expanding in luxury storage. Connect with Marc on Instagram: @marc.kuhn.makJoin our investor waitlist and stay in the know about our next investor opportunity with Somers Capital: www.somerscapital.com/invest. Want to join our Boutique Hotel Mastermind Community? Book a free strategy call with our team: 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.

Rich sits down with the Founders of Lendspark, Todd Stichler and Paul Cortez. Lendspark is a national licensed direct lender founded for the sole purpose of supporting the growth capital needs of small, middle market & public companies. Lendspark, founded in 2012, has arranged over $500 million to hundreds of businesses in a wide variety of industries, including Real Estate, Jet Rentals, and Pharmacy Automation.Rich, Todd, and Paul start off by discussing what Lendspark does in the lending space today, the high interest environment and how it’s affected the lending space, what Lendspark is looking for in clients, what funding and structuring funding deals looks like for the company, warehouse facilities, and how many funds investors are typically involved in. They then reflect on debt service payments, Rich shares some info about a new property he’s picking up, what it’s like to take back properties, taking collateral from clients, how Paul and Todd got into the lending space, what Paul’s role as the VP of Real Estate looks like at Lendspark, the team structure of a lending company, the average deal size and largest deals for Lendspark, and how buyers qualify for lending.Lastly, Rich, Todd, and Paul talk what successful buyers look like, real estate investing and lending, raising capital, Lendspark’s minimum fund qualifications, being forthcoming about good and bad deals with investors, creating content for social media, the Wall Street Casino, alternative assets and investments, the interest rate environment, and what Todd and Paul forecast the market looks like in the next two years.Connect with Lendspark on Instagram: @lendsparkJoin our investor waitlist and stay in the know about our next investor opportunity with Somers Capital: www.somerscapital.com/invest. Want to join our Boutique Hotel Mastermind Community? Book a free strategy call with our team: 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.

On today's "Saturday Edition" episode, Rich answers the top question of the week that was sent in by our listeners. Rich and Alex reflect on the last few weeks of the year and their holiday plans. They then analyze the mindset of taking one step and offer several ways to get the momentum back in making deals. If you have a question you'd like answered, please email info@somerscapital.com. Stay tuned every Saturday to see if it's featured!Join our investor waitlist and stay in the know about our next investor opportunity with Somers Capital: www.somerscapital.com/invest. Want to join our Boutique Hotel Mastermind Community? Book a free strategy call with our team: 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.