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The Rich Somers Report

Latest episodes

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Feb 23, 2023 • 1h 1min

College Football Player Turns Real Estate Mogul, He Owns and Operates 1,800 Apartment Units at Age 33 Pt. 2 | Justin Spaulding E24

Justin Spaulding is arguably the top multifamily operator under the age of 35, and owns a portfolio of 1,800+ apartment units. In part 2 of Rich & Justin’s interview, they talk about a couple different refinancing scenarios they’re going through right now, interest rate caps and recaps, and the different types of investors they decide to work with or sometimes not work with. They discuss how you can get creative with seller financing, and Justin shares a specific story about a deal where the seller might actually be cutting him a check at closing. Connect with Justin on Instagram: @justinspaulding--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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Feb 21, 2023 • 51min

College Football Player Turns Real Estate Mogul, He Owns and Operates 1,800 Apartment Units at Age 33 Pt. 1 | Justin Spaulding E23

In today’s episode, Rich sits down with Justin Spaulding – arguably the top multifamily operator under the age of 35, and owns a portfolio of 1,800+ apartment units. They talk about how he’s sourcing his deals and having success finding off-market properties given the current interest rate environment. Justin shares how he went from playing college football and having no idea what he wanted to do afterwards, to getting his start in real estate. They dive into Justin’s family life and striving to be successful in all areas of life (not just business), as well as the importance of prioritizing your health. They discuss the markets Justin is targeting, the operations within his company, and the lessons he’s learned as he’s scaling his business.--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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Feb 16, 2023 • 48min

Buying Your First Investment Property During The Pandemic and How to Grow a Hospitality Business | Jennifer Bube E22

In today’s episode, Rich sits down with our very own Jennifer Bube – she’s worked with Rich since day one and helps manage all the boutique hotels & short-term rentals in the Excelsior Stays portfolio. They talk about how they first met & started talking about real estate investing which led to Jennifer and her fiance, Mark, buying their first short-term rental in National City. Jennifer shares some of the things they did to maximize the property by splitting it into multiple listings, as well as some of the biggest challenges they’ve faced. They discuss what it was like when she first started working with Rich, and some insight on the transition from managing & operating single-family listings to boutique hotels.--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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Feb 14, 2023 • 50min

San Diego’s TV and Radio Personality Who’s Found a Side Hustle Investing in Real Estate | DJ Frankie V E21

In today’s episode, Rich sits down with Frankie V – San Diego’s TV and radio personality, and host of Channel 933 in the mornings. They talk about how he got started in radio, what he and his brother are up to in the real estate space, and today’s market. Rich shares an update on the current Little Italy Boutique Hotel deal, the challenges that have come up, and how he’s gotten creative to solve them. They also discuss the success of the San Diego Padres, and Frankie shares a story about a DM from Rihanna asking for advice on performing at the Super Bowl. Connect with Frankie V on Instagram: @frankievizzle--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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Feb 9, 2023 • 10min

If I Was Starting Over From Zero Knowing What I Know Today | E20

Exploring real estate wholesaling, off-market deals, and contract assignments. Starting a co-hosting short-term rental company for cash flow and wealth building. Real estate investing strategies from scratch, networking tips, and wealth-building power of sweat equity.
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Feb 7, 2023 • 51min

He Built a $10M Airbnb Portfolio in 2 Years and Now He's Pursuing Boutique Hotels Pt. 2 | Tony Robinson E19

In part 2 of Rich’s interview with Short Term Rental & Airbnb Investor, and Host of the BiggerPockets Rookie Podcast, Tony Robinson, they talk about their experiences with masterminds, connecting with different types of people from varied backgrounds, what Tony is up to today & his long-term goals. He shares a story about a deal in Big Bear that ended up falling through and his biggest takeaways from that experience, as well as structuring deals with accredited vs. non-accredited investors. They also dive into short-term rental regulations & restrictions, advice for getting an STR license, the structure & operations of Tony's team, and what is his “why” in life. Connect with Tony on Instagram: @TonyJRobinson --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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Feb 2, 2023 • 51min

He Built a $10M Airbnb Portfolio in 2 Years and Now He's Pursuing Boutique Hotels Pt. 1 | Tony Robinson E18

Today Rich sits down with Short Term Rental & Airbnb Investor, and Host of the BiggerPockets Rookie Podcast, Tony Robinson. They talk about how he transitioned from his full-time W2 job with Tesla, to managing short-term rentals and building a business with his wife, Sara. They dive into how Tony decides what markets to invest in, tips for updating your Airbnb listing to drive occupancy, as well as cleaning fees and pricing strategies. They also discuss what it’s like working with your spouse, starting their STR Summit, and Tony shares the story of how he became the host of the BiggerPockets Rookie podcast. Connect with Tony on Instagram: @TonyJRobinson --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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Jan 31, 2023 • 26min

3 Rules to Buy Real Estate in 2023 | E17

In today’s episode, Rich highlights the three criteria he looks for when buying real estate and gives some specific examples on how you can apply these rules & principles in your own real estate journey. He shares a few stories on personal deals he’s done, including his very first deal in Cincinnati and what he learned from that experience.--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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Jan 26, 2023 • 42min

What’s Happening w/ the Capital Markets Today, Interest Rates, and How to Finance Your Deals in 2023 Pt. 2 | Jonathan Yoo and Dustin Rosenberg E16

In part 2 of Rich’s interview with Jonathan Yoo and Dustin Rosenberg of Convoy Home Loans, they discuss hard money loan products and some tips & advice for the listeners on these types of loans. They do a deep dive into a couple of Rich’s personal deals, and they go over the best lending options for those particular situations & scenarios. They also talk about their recent experiences with appraisals in the current market. Connect with Jonathan & Dustin on Instagram: @convoy_homeloans / Email: jonathan@convoyhomeloans.com + dustin@convoyhomeloans.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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Jan 24, 2023 • 33min

What’s Happening w/ the Capital Markets Today, Interest Rates, and How to Finance Your Deals in 2023 Pt. 1 | Jonathan Yoo and Dustin Rosenberg E15

In today’s episode, Rich sits down with two of the best lenders in the industry, Jonathan Yoo and Dustin Rosenberg of Convoy Home Loans. They discuss interest rates in the investor space vs. the conventional space, QM and Non-QM products, and why they started their own business & got into the lending industry. They also talk about their experience funding Rich’s luxury Airbnb in Scottsdale (with no debt-to-income ratio and no tax returns). Connect with Jonathan & Dustin on Instagram: @convoy_homeloans / Email: jonathan@convoyhomeloans.com + dustin@convoyhomeloans.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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