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The Rich Somers Report

Latest episodes

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Jun 22, 2024 • 12min

True Commitment is When Alternatives No Longer Exist | Saturday Edition E205

On today's episode of the Saturday Edition, Rich and Alex start off by talking about the June Yacht Meet-up and how true commitment is when alternatives no longer exist. Lastly, they analyze Rich’s experience getting into real estate, investing in themselves, creating accountability, and how life rewards those that go all in.--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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Jun 21, 2024 • 18min

99% of Our Problems are Solved by Waking up at 5:30am and Cutting Out Alcohol | E204

Rich and Brandon Novak share their personal accounts of becoming sober, the benefits they’ve found in doing so, and how listeners can start their journey. Connect with Brandon on Instagram: @brandon__novakIf you or a loved one are suffering with addiction call or text Brandon at (610) 314-6747--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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Jun 20, 2024 • 1h 18min

He’s a Retired Pro Skater Who Had a $70M Exit & Now Builds Large Apartment Buildings | Mikey Taylor E203

On today’s episode, Rich sits down with Mikey Taylor – Serial entrepreneur and former professional skateboarder. Mikey Taylor is the President and Managing Principal of Commune Capital, a private equity firm that invests in commercial real estate. After a successful 14 year skateboarding career, Mikey began the transition into entrepreneurship and business building, when he recognized an opportunity in the emerging craft beer industry. He utilized his marketing experience from skateboarding to co-found Saint Archer Brewery.Rich and Mikey start off by discussing the updates to Mikey’s life since they last met, their experiences in the skating world, how Mikey met his wife, Mikey campaign plan to became a city council member in Thousand Oaks, backlash in communities today, the difference between A and C students, and teaching personal finance to students. They then reflect on Rich’s experience with the Big Brother program, developing communication skills, what Mikey’s schedule typically looks like, Mikey’s methods to fundraising through social media, and building trust through long form content.Lastly, they talk about Mikey’s experiences with real estate investing in California, current market trends, the risks to real estate investing, their recommendations to investing in 2024, Mikey’s favorite real estate locations, cap rates, cashflow vs appreciation, investing in red and blue states, the safest way to invest in real estate, Rich’s experience with real estate in Turkey, Rich’s case for San Diego, their market forecasts and bad policies.Connect with Mikey on Instagram: @mikeytaylor--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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Jun 18, 2024 • 56min

Become Your Own Bank & Is the 401(K) a Scam? | Brandon Beal E202

On today’s episode, Rich sits down with Brandon Beal – Entrepreneur, Wealth Accumulation Planner, Founder & Owner of Breeze Wealth Management, and Personal Trainer. Brandon's path took an unexpected turn when an injury involving his peroneus muscle ended his NFL dreams. During his rehab, Brandon fully immersed himself in the fitness industry, helping others reach their peak fitness levels as a certified personal trainer. With just $200 to his name, he made a life-changing decision to get his life insurance license. This turned out to be one of the best decisions of his life. In his first two weeks as an insurance advisor, he earned an impressive $16,500 in commissions, setting the stage for a remarkable career. Since September 14, 2023, Brandon has been the owner and founder of Breeze Wealth Management, a firm specializing in wealth accumulation planning and in May alone, they’ve secured and protected over $3M of their cleint’s savings. Rich and Brandon start off by discussing sports and being competitive, Brandon’s experience with the NFL and Arena Football, what Brandon is doing in the financial space, life insurance strategies, perm life insurance and how it works, and how Disneyland was funded. They then reflect on the death benefit, maximizing cash values, the 401(k) system, and going all in to buy in real estate.Lastly, they talk about partnerships, finding the right mentor, who Brandon looks up to, the difference between Brandon and his brother, where successful business owners come from, being a master of one, routines and schedules, Kris Krohn, hate comments, annuities and cashflow, and where Brandon would suggest starting in life insurance.Connect with Brandon on Instagram: @brandonebeal--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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Jun 15, 2024 • 20min

5 Ways Starting A Podcast Can Change Your Life | E201

On today's episode of the Saturday Edition, Rich and Alex start off by talking about recent updates for Somers Capital and the 5 ways that starting a podcast can change your life. Lastly, they analyze Rich’s experiences starting his own podcast, his advice on how to get started, and share an opportunity to join the 7 Figure Creator mastermind group.Visit the7figurecreator.com to book a free call with our team.--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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Jun 13, 2024 • 57min

How He's Turning Prefab ADU's Into Pocket Communities | Andrew Greer E200

On today's episode, Rich sits down with Andrew Greer -- Co-founder of Thomas Strafford Investments, which specializes in the acquisition and re-positioning of undervalued real estate assets. As the Team Lead of Real Estate Pro Team, Andrew oversees a dynamic group of over 30 agents in San Diego's competitive market. A local infill developer, he has extensive experience in single-family, multi-family, and pre-manufactured pocket communities. Actively involved in building custom homes and apartments, he continuously diversifies his investment portfolio. A community leader, Andrew regularly hosts industry events to foster collaboration and knowledge-sharing. His impact was recently celebrated with the "Investor of the Year" award for 2022 by San Diego Real Producers.Rich and Andrew do a deep dive into how he's using prefab ADU's to build pocket communities, and they give the listeners a full breakdown of the ADU play and why they see it as a huge opportunity in the space right now. They also discuss the changes in local regulations, the ins & outs of the permitting process, and the biggest mistake they see ADU investors making.Connect with Andrew on Instagram: @realtyentrepreneur--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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Jun 11, 2024 • 55min

$38 Trillion Sits in American Retirement Accounts Today | James McCabe E199

On today’s episode, Rich sits down with James McCabe – Founder and a Managing Partner at The Placement Funds. As an investor, capital raiser, and connector, James has facilitated over $100M for real estate projects in recent years. While James’ funds are primarily focused on Multifamily real estate, they also have diversified interests to include businesses and structured lending. Rich and James discuss what James was doing before he got into real estate investing, how he started his retirement account fund, and the fact that there's roughly $38 trillion sitting in retirement accounts in the U.S. right now. They dive into Rich's decision to cash out his 401k to get started in real estate investing and if they'd recommend that same strategy for others, the concept of "The Rule of 72 or Einstein's Eighth Wonder of the World", and the dynamics of James working alongside his wife. They also dive into James' real portfolio and what kind of assets he's buying, how he prefers structuring deals around a hard asset and having some sort of collateral, the benefit of having an asset management arm of your business to be able to pivot quickly as needed, and how they structure their syndications and funds. Connect with James on Instagram: @_jmccabe_--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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Jun 8, 2024 • 43min

She's Changing the Airbnb Game w/ This Unique Branding Strategy | Breanna Fleschner E198

On today’s episode, Rich sits down with Breanna Fleschner – also known as the Dream House Girl. She's not just a real estate investor, entrepreneur, and property manager, but also a savvy STR interior designer. Bre is the visionary behind the Dream House Vacation Rental Brand, driven by her lifelong love for travel and hospitality. With a focus on high-travel destinations across the US, Bre's mission is clear: to curate a collection of themed instagramable properties tailored to women. Each stay guarantees unforgettable experiences and top-notch service, establishing a trusted brand that women eagerly return to time and time again for a more secure cashflow investment. Bre not only is working on her short term rental portfolio, but using her key principal skill to partner on a retro summer vibe boutique hotel. Rich and Bre dig into Bre’s expertise in the real estate space, her goal of building up rental properties across the United States, and how she tailors her property designs to specifically target women in heavy travel destinations. Bre dives into the boutique hotel she’s partnering on, some of the value-add features she implements in her projects, what she was doing before she got into real estate investing and how she got to where she is today. They also discuss growing your business through social media, how she benefited from a piece of content that went viral for her very first property, a couple of SubTo hybrid deals she’s done with Pace Morby and the power of creative financing. Bre shares her experience and advice with the listeners out there looking to get their foot in the door with real estate investing. Connect with Bre on Instagram: @thedreamhousegirl--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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Jun 6, 2024 • 1h 11min

This MTV Jackass Star Survived All the Drugs & Alcohol Addictions | Brandon Novak E197

On today’s episode, Rich sits down with Brandon Novak – Professional Skateboarder, MTV celebrity, alumnus of the Jackass motion picture series, star of the CKY skateboard video series, and author of the best-selling memoir “Dreamseller.” Brandon gives back by helping people into treatment celebrating 9 years clean and nearly 6 years tobacco free. He relates to millions of people across the US; 1 in 4 to be exact, who are directly affected by addiction in their family. He travels the country as one of the most in-demand addiction keynote speakers, bringing awareness and education to high schools across the nation. Brandon has impacted hundreds of thousands of lives through his story of sobriety.Rich and Brandon start off by discussing Mikey Taylor and Brandon Turner (the skateboarder), the synchronicity of life events and meeting Tony Hawk, Bucky Lasek and growing up in Baltimore, skateboarding and high intensity workouts, Brandon’s journey into the Jackass movies, Brandon’s worst injury on set, and Brandon share’s an anecdote of stealing a doctor’s script. They then reflect on Brandon’s drug usage, Rich’s journey through a Xanax addiction, Benzo addictions, prescribing drugs to children, and muscle memory.Lastly, they talk about happiness in growth and progress, the covid pandemic, Brandon’s family history, the power of a smile, Brandon’s anecdote about an abandoned house, how the abnormal becomes the normal, their journey to sobriety, full circle moments, being the best version of ourselves, the confidence that sobriety creates, and realistic ways to become sober.Connect with Brandon on Instagram: @brandon__novakIf you or a loved one are suffering with addiction call or text Brandon at (610) 314-6747--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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Jun 4, 2024 • 1h 21min

At What Age Do You Want To Have The Option To Work Or Not Work? | Thach Nguyen E196

On today’s episode, Rich sits down with Thach Nguyen –  Entrepreneur, Founder of Thach Real Estate Group, Real Estate Broker, Investor, Developer. Thach is the CEO & Founder of Thach Real Estate Group, and principal of Springboard to Wealth. He’s a proud ambassador of the American Dream. During his 30 years in the real estate industry, he has built more than 300+ homes , townhouses, and multifamily units and completed over 100+ flips. Thach and his team have assisted more than 2,500+ families to create their own American Dream of home ownership, ranking him in the Top 1% of all real estate professionals nationwide.Rich and Thach start off by discussing  Thach’s experience in Newport Beach, Thach’s love for Seattle, Thach’s three person team, Thach’s childhood, how Thach went from a valet to a realtor, off market deals and rejections, Thach’s drive and his first deal, passive income, the pathway to $1 billion, and why people don’t get into real estate.They then reflect on deals on the west coast, Rich’s first property, being bullish on San Diego and Seattle, investing in the midwest, the first deal and excuses not to invest, the best asset class in real estate right now, and the ADU game.Lastly, they talk about townhomes in Seattle, Rich’s boutique hotel in San Diego, how to get started in real estate in 2024, licensing in San Diego, the new 1033 law in California, affordable housing in the US, renting vs living, cashflow and compounding appreciation, teaching kids the value of money, social media and content creation, short and long form content, when to start making content, the public school system, Thach’s cars, when to jump into real estate, and owning 5 rental properties.Connect with Thach on Instagram: @thachnguyen--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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