The Rich Somers Report

Latest Episodes:

Top Ways to Grow a Social Media Audience | Saturday Edition E218 Jul 20, 2024

Show notes

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

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.

Connect with Rich on Instagram: @rich_somers

Why Being "Humble" Could be Costing You Money | Ryan Magin E217 Jul 18, 2024

Show notes

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

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.

Connect with Rich on Instagram: @rich_somers

Top Tax Strategies Used by the "1%" | E216 Karlton Dennis Jul 16, 2024

Show notes

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

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.

Connect with Rich on Instagram: @rich_somers

Rumor is the Federal Reserve Could Reduce Interest Rates 8 Times in the Next Year | Jonathan Yoo E215 Jul 13, 2024

Show notes

This episode is a recording from Rich's Boutique Hotel Mastermind Community Group Call. Jonathan Yoo of Convoy, joins us to discuss the current interest rate environment, capital market update, and where interest rates are headed.
Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call.
Connect with Jonathan: jonathan@convoyhomeloans.com

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.

Connect with Rich on Instagram: @rich_somers

If Something Isn't Empowering You, It's Disempowering You | Brandon Turner E214 Jul 11, 2024

Show notes

On today's episode, Rich sits down with pro skateboarder Brandon Turner -- this child prodigy struggled with addiction growing up, and following some injuries and time in prison, he went through a period of recovery. After turning sober in the late 2010's, he began mentoring in addiction in recovery programs, and returned to skateboarding in what The New York Times called "an impressive late-career renaissance". Rich and Brandon dive into his early years as a skateboarder, sponsorships & endorsements, the importance of mindset, and how skateboarding has evolved over the years. The also discuss creating your personal brand through social media, Brandon's experience jumping off a bridge and getting hit by a car, and his road to recovery.
Connect with Brandon on Instagram: @bturner_

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.

Connect with Rich on Instagram: @rich_somers

Life Rewards Those Who Go All In | E213 Jul 09, 2024

Show notes

Today we're dropping a special episode from Rich's live speaking engagement at Tony & Sara Robinson's STR Summit in Denver a couple weeks ago. Rich delivers an insightful presentation to the crowd by diving into all things boutique hotel investing, mindset, what it takes to build a portfolio, scale that portfolio, and so much more. He discusses the importance of sacrificing certain things to get to the next level, his transition from an air traffic controller to where he is today in the real estate space, and some key actionable steps you can take if you feel stuck and are looking to make a change in your own life!

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.

Connect with Rich on Instagram: @rich_somers

2024 is Half Way Over - Are You Where You Want to Be? | Saturday Edition E212 Jul 06, 2024

Show notes

In today's episode, Rich shares with the audience an opportunity to join this year’s Somers Capital Holiday party, his biggest takeaways from 2024 this far, how to build and reflect on personal goals, and what Rich is looking forward to as he finishes out the year.
Reach out to info@somerscapital.com to get access to the Somers Capital 2024 Holiday Party

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.

Connect with Rich on Instagram: @rich_somers

He’s Bought 13 Hotels & Shares His Journey From Humble Beginnings | Neil Shah E211 Jul 04, 2024

Show notes

Rich sits down with Neil Shah - President of Inntech Management and a leader in the hospitality industry. Neil started out as an electrical engineer in India, and at age 23, moved to California where he became a hotelier and a GM. Since then, Neil began investing in hotels and has grown to multiple properties in Arizona. Neil currently owns 13 hotels.
Rich and Neil discuss Neil’s fascinating beginnings in India and becoming a hotelier, the distinction between branded hotel properties and independent properties, and how to effectively educate yourself in what you want to do. They also talk about automating property processes and how the next generation will take on real estate innovations.
Connect with Neil on Instagram: @nilangs

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.

Connect with Rich on Instagram: @rich_somers

“Do’s and Don’ts” on a First Date & Her New Dating App Explained | Jordan McMurtry E210 Jul 02, 2024

Show notes

Rich sits down with Jordan McMurtry - Co-Creator at YES Inc. & Investor Relations Manager with Hayley Capital. Jordan’s career began as a personal assistant, quickly advancing to an executive assistant role. In November 2023, Jordan launched the YES dating app in San Diego, a project Jordan and her co-founders meticulously developed since 2019. Jordan is dedicated to expanding YES dating’s presence in San Diego, aiming for market dominance before scaling to other cities. Her involvement in startups has been highly rewarding, witnessing companies grow from inception to generating nearly $45 million in annual revenue.
Rich and Jordan discuss how Jordan started her dating app - YES, group dating and double dates, their critiques of modern dating etiquette, and what a perfect first date would look like. They also reflect on transportation when dating, Rich’s big Holiday Party announcement, awkward dates and catfishing on dates. Lastly, Rich and Jordan talk about social media and dating apps, where and how to meet new people, long-distance dating, settling down in dating, and Jordan’s goals for 2024.

Connect with Jordan on Instagram: @jordanhayleym

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.

Connect with Rich on Instagram: @rich_somers

The Journey From Full-Time Air Traffic Controller to $80M in Real Estate | E209 Jun 29, 2024

Show notes

This episode is a re-cut from The Action Academy Podcast, hosted by Brian Luebben. The original episode aired on May 14th, 2024.
In today's episode, Rich shares with Brian his key takeaways and learnings on how he went from his first deal to a portfolio of $80M+ of real estate, establishing how to get started in boutique hotels, apartment buildings, and short term rentals in 5 years.
Connect with Brian on Instagram: @brianluebben

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.

Connect with Rich on Instagram: @rich_somers

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