The Rich Somers Report

On today’s episode Rich sits down with Rafa Loza – short-term rental & boutique hotel investor, who’s made his mark in the hospitality and short-term rental industry over the past six years. Originally leveraging an arbitrage model, Rafa seamlessly transitioned into boutique hotel operations, his entrepreneurial spirit fueling his growth. He now owns and operates a large-scale hospitality brand, managing over 72 short-term rentals and a boutique hotel, with his portfolio growing month after month. Rich and Rafa discuss the business plan for his boutique hotel, different lending options, how he found investors for that deal, and a breakdown of the renovation package. They dive into how Rafa got into real estate investing, an overview of the structure of his team, and some tips for new investors looking to get into the game. Connect with Rafa on Instagram: @itsrafalozaJoin 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 sits down for a conversation with Jonathan Yoo and Dustin Rosenberg of Convoy Home Loans. They do a deep dive into what’s going on in the market and the current interest rate environment. They discuss unemployment numbers & large company layoffs, tips for investors looking to get a DSCR loan, and some insight on how to make your appraisal process go smoothly. They also talk about different lending options for ADU’s, Rich’s “3 Immutable Laws of Real Estate Investing”, and where they predict things will settle down in Q3 & Q4.Dustin and Jonathan are the owners of Convoy Home Loans, the #5 ranked broker for Non Qm in the nation and #6 overall volume broker in the nation. When they started Convoy, they made it a purpose to have programs that catered to investors and clients of higher net worth. They grew their brokerage in the last 2.5 years and have funded over $1 billion in loans as a team. Dustin and Jonathan are the company’s owners but also the top producers. Their goal this year is to expand the company further and take advantage of the slower market by capturing as much market share as possible. They're passionate about helping investors grow their portfolios using creative financing options.Connect with Jonathan & Dustin on Instagram: @convoy_homeloans 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.

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.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.

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: @blakejdaileyJoin 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.

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: @investwithomarJoin 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.

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. 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.

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_grimesJoin 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.

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: @vinnylinghamJoin 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.

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: @thejorgecontrerasJoin 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.

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.