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The Rich Somers Report

Latest episodes

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Aug 6, 2024 • 1h 14min

BYLT: Why This Brand is Disrupting the Apparel Game & How They Landed Mike Tyson | E225

On today's episode, Rich sits down with Joe Trachta and Jared Koenig, Director of Product and Vice President of Operations for BYLT -- a premium basics apparel brand with tailored fits, elevated designs and enhanced materials BYLT for any occasion.They dive into what sets BYLT apart from their competitors, how Rich X BYLT's brand partnership came to fruition, and the history of the company & how it got started. Joe and Jared share how falling in love with the craft & art of building product is what makes going into work every single day fun, how they landed partnerships with individuals like Mike Tyson & Rob Gronkowski, and their vision for where the brand is heading in the future. --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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Aug 3, 2024 • 17min

Those Who Wait For the Perfect Plan Never Play the Game | Saturday Edition E224

On today's Saturday Edition Episode, Rich sits down with co-host Alex Johnson to chat about why those who wait for the perfect plan never play the game. They discuss a few examples from their owns lives and share some key tips for any listeners out there who might be stuck in "analysis paralysis". --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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Aug 1, 2024 • 59min

He Created the World's First Ever Peanut Butter Tequila Brand | Cole Mueller E223

On today's episode, Rich sits down with Cole Mueller -- founder of Maniball Peanut Butter Tequila, the world's first PB tequila brand. He launched Maniball in San Diego in Q1 of 2024, and since then have expanded in multiple markets around the US. He's also a partner of the RMCI Group, a firm that builds high-end ultra luxury spec homes and flipa them for profit all over California. They focus on luxury markets in San Diego, LA, and Northern California. Rich and Cole dive into how he came up with the idea to combine peanut butter + tequila, everything that goes into creating the product, and his strategy for expanding the brand. They also discuss Cole's experience in the real estate investing space, the types of projects he works on with the RMCI Group, and the importance of relationships and a positive mindset.Connect with Cole on Instagram: @colemueller8--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 30, 2024 • 55min

Latest News in the STR Market & How He Bought His First Boutique Hotel | Tony Robinson E222

On today's episode, Rich sits down with Tony Robinson -- real estate investor and co-host of the Bigger Pockets Real Estate Rookie Show. Tony brings his expertise in long-distance real estate investing, the BRRRR strategy, real estate partnerships, and short-term rentals. Tony has defied all odds as a young black male who became a father at 16, quickly scaled the corporate ladder at companies like Tesla, and has now become a full time real estate investor growing his portfolio to 30 short term rentals in the last 2 years.   Rich and Tony dive into how he bought his first boutique hotel right outside of Zion, a previous deal he had to walk away from halfway through the $6M raise, and the importance of getting your feet wet and just getting in the game with your first deal. They discuss what they're currently seeing in the STR market, their thoughts on canceling contracts, and the biggest lessons they've both learned as they've grown as entrepreneurs.   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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Jul 27, 2024 • 22min

How to Buy Your First Real Estate Deal in 2024 | Saturday Edition E221

On today's Saturday Edition episode, Rich is joined by Tony Robinson -- real estate investor and co-host of the Bigger Pockets Real Estate Rookie Show. Tony brings his expertise in long-distance real estate investing, the BRRRR strategy, real estate partnerships, and short-term rentals. Rich and Tony dive into the current interest rate environment, they discuss the latest market trends, and provide a detailed roadmap for those looking to make their first real estate investment.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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Jul 25, 2024 • 46min

How He Escaped a Near-Death Experience in an F-22 Fighter Jet | Joshua "Cabo" Gunderson E220

On today's episode, Rich sits down with Joshua "Cabo" Gunderson -- a Lieutenant Colonel with the Nevada Air National Guard and former combat pilot. Joshua started his career at the United States Air Force Academy, graduating with degrees in geospatial science and Spanish in 2008. During F-15 pilot training, he received several awards including Distinguished Graduate and Top Gun.From 2008-2019, Joshua was stationed at various air bases including Okinawa, Japan and Anchorage, Alaska, where he transitioned from flying the F-15C to the F-22 Raptor. He executed multiple combat deployments throughout the Middle East in support of Operation Inherent Resolve and earned the Raytheon Award, the Air Force’s top honor for aerial combat squadrons.He finished his active duty career serving as the F-22 Demonstration Team Commander and Pilot from 2020-2022, where he earned the Field Grade Officer of the Year Award. He led the Air Force’s sole F-22 demonstration team, flying 200 sorties at over 25 domestic and international air shows annually, including the flyover at Superbowl 2022. Since leaving active duty, Joshua serves in the Nevada Air National Guard, works for a private company as a corporate pilot flying the Challenger 300 aircraft, and consults for aviation clients.In addition to his career, Joshua is passionate about community and aviation. During his time leading the F-22 Demo Team, he interacted with over 12,000 students across 167 community events and continues to participate in community outreach at local schools and children’s hospitals. He volunteers as a mechanic and pilot at the Planes of Fame Aviation museum, which owns over 150 vintage military aircraft ranging from WWI through Vietnam and Korea. Rich and Joshua dive into his time in the Air Force and his transition to the Nevada Air National Guard, they discuss the biggest differences between flying private vs. commercial, and Joshua shares the craziest maneuver he's done in a fighter jet along with a story of a near-death experience in an F-22. Connect with Joshua on Instagram: @cabogunderson--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 23, 2024 • 1h

How Former Miss Nevada Makes $1M a Year From Mini Mailboxes | Lisa Song Sutton E219

On today's episode, Rich sits down with second time podcast guest Lisa Song Sutton -- she's a real estate investor, entrepreneur, venture capitalist, and former Miss Nevada. With a background in business litigation, Lisa began her career working in a top Las Vegas law firm before launching and scaling several companies, taking them from $0 to millions in revenue, 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 theveteran community. She is currently a General Partner of The Veteran Fund, a $20M venture capital fund that invests in veteran-led companies.In addition to her work in real estate and venture capital, Lisa is an experienced speaker, sharing her message of leadership, empowerment, and taking action with audiences from the TEDx stage to local schools, encouraging the private sector to become more involved in their communities.Lisa was the first Miss Nevada of Asian descent and remains actively involved in her community, serving on the boards of StartUpNV, Nevada's largest statewide business incubator, and the Young President's Organization (YPO) Las Vegas chapter. She was recently recognized as Vegas Inc.'s 40 Under 40 and also serves on the board of the Nevada Policy Research Institute.Rich and Lisa discuss how she got started in the mini mailbox space, they dive into her online community where she teaches others how to set up their own stores, and Lisa reflects on her time competing in the Miss Nevada pageant. 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 20, 2024 • 23min

Top Ways to Grow a Social Media Audience | Saturday Edition E218

On today's episode, Rich sits down with Ryan Magin -- a video creator who has garnered over 500 million views across TikTok, IG Reels, and YouTube Shorts. As the founder of Viral Editz, his media company has produced thousands of TikTok videos, each surpassing 1 million views, resulting in $3 million in revenue. He currently manages a diverse clientele of 18 brands and A-list creators, with his team consistently creating and posting over 100 videos daily across multiple platforms.This Saturday Edition teaches you the BEST way to grow a social media audience in 2024 with Ryan Magin. Connect with Ryan on Instagram: @ryanmagin--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 18, 2024 • 1h 18min

Why Being "Humble" Could be Costing You Money | Ryan Magin E217

On today's episode, Rich sits down with Ryan Magin -- a video creator who has garnered over 500 million views across TikTok, IG Reels, and YouTube Shorts. As the founder of Viral Editz, his media company has produced thousands of TikTok videos, each surpassing 1 million views, resulting in $3 million in revenue. He currently manages a diverse clientele of 18 brands and A-list creators, with his team consistently creating and posting over 100 videos daily across multiple platforms.Rich and Ryan dive into all things social media content -- how Ryan structures and runs his business, the best platforms and types of content to post, and the importance of focusing on your strengths. They also what goes into a viral video, keys to growing a niche following, and why he thinks being "humble" is costing people money. Connect with Ryan on Instagram: @ryanmagin--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 16, 2024 • 49min

Top Tax Strategies Used by the "1%" | E216 Karlton Dennis

Re-sharing one of our top episodes with Karlton Dennis. Original airdate was on November 16, 2023.Rich sits down with Karlton Dennis - a Licensed Enrolled Agent, Tax Strategist, Forbes council member, Consultant and YouTuber. Karlton has helped over 10,000 clients and 3200 real estate investors and entrepreneurs save millions of dollars in taxes in real estate and business. Karlton also hosts the podcast “Tax Free Living.”Rich and Karlton start off by discussing the LA Lakers and Clippers, how Karlton became a tax professional, the benefits of setting up holding LLCs in Wyoming and Delaware, the benefits of having a living trust, the differences between a revocable trust and irrevocable trust, and the STR loophole for high earning w2 taxpayers. They also reflect on the intricacies of depreciation recapture, the 1031 exchange, cost segregation studies, Tenancy in Common, reverse 1031 exchanges, the definition of like kind exchanges, the child payroll strategy, S Corps and C Corps, the intricacies of Roth IRAs and backdoor IRAs, whether high income earners should put their money into Roth IRAs or 401ks, and self directed 401ks.Lastly, Rich and Karlton talk about setting up Simplified Employee Pension Plan (SEP), stepping up and taking action during the COVID-19 lockdown, tax strategies for high income earners of $10 million or more, and the tax benefits of purchasing jets, yachts, and luxury cars. Connect with Karlton on Instagram: @karltondennis--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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