The Rich Somers Report

Rich sits down with Kent Clothier - nationally recognized entrepreneur, real estate investing expert, performance coach, and speaker. He got his start in business at 17, helping to create a grocery arbitrage company, ultimately building the company to $1.8 Billion in annual sales by the age of 30.The Clothier family run real estate investment company has flipped more than 8,000 single family homes and the company currently manages a portfolio of over 7,500 single family homes in 11 markets. Kent and his partners are actively involved in managing a portfolio of multiple real estate funds with a variety of real estate assets, including Self Storage, Multi-Family, and Hospitality assets. Kent is also the CEO and Founder of Real Estate Worldwide and The Boardroom Mastermind, multifaceted organizations focused on software, training, and executive coaching, based in La Jolla, California. Rich and Kent discuss the current US interest rates, the commercial assets that Kent is currently focused on, the self-storage and multi-family models, what makes for a good deal, the residential development on the Pendry in Palm Springs, and why Kent does not buy invest in real estate properties in California. They also reflect on living in San Diego, investing out-of-state, why investors should rent their primary residence, and the best way for someone to become an entrepreneur with no experience.Lastly, Rich and Kent talk about how to elevate from the Hustler mentality to CEO mentality, setting 3-to-5 year plans, living life with intention, hiring the right person, how Kent’s first company built to $1.8 Billion, Kent’s shift to flipping houses, taking the time to live life in the moment, generating opportunities, monetizing leads, and direct response marketing.Connect with Kent on Instagram:  @KentClothier1  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 "Saturday Edition" episode, Rich answers the top question of the week that was sent in by our listeners. Rich and Alex reflect on connecting with several private investors this week, and discuss next week’s Beers & Deals event. They also analyze the real estate market in the last 3 years, and Rich shares his two rules for what he needs before buying real estate with today’s high interest rate environment.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 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.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 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: @brianmalarkeyJoin 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 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!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 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: @danielkong808Join 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 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: @michaelsartainJoin 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 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!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 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: @apartmentrockstarJoin 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 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: @kriskrohnJoin 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.