The Rich Somers Report

Latest Episodes:

The NAR Settlement Explained & How He’s Disrupting the Need for Real Estate Agents | Brad Rice E208 Jun 27, 2024

Show notes

The NAR class action lawsuit will disrupt real estate as we know it, and Rich and Brad Rice dive deep into why during today’s episode, right before they switch gears to boat lending and how to create a home listing in under 5 minutes.

Rich sits down with Brad Rice - Founder and CEO of Amerifund Home Loans, a nationally recognized mortgage company and Homepie, a groundbreaking and disruptive online marketplace that enables anyone to sell their own home without paying excessive real estate commissions. During his 30-year career, Brad has scaled, owned, and operated several successful mortgage companies, an escrow company, a real estate brokerage, and real estate investment groups.

Rich and Brad discuss Rich’s Banker Hill property, The 7 Figure Creator group, the current lending space, HELOCs, what Brad is doing in the lending space, reverse mortgages, Rich’s first win in the real estate space, and why Rich and Brad do business in California. They also reflect on Rich’s idea for a San Diego Real Estate Conference, Brad’s company - Homepie, Brad’s vision for the future of real estate, and how to create house listings and agreements in only five minutes. Lastly, Rich and Brad talk about a class action lawsuit that has completely disrupted the realtor space and will force several severe NAR (National Association of Realtors) and brokerage practice changes, why Rich only works with listing agents, commercial lenders and sellers, why Rich doesn’t like people who aren’t gamers, a deep dive on Rich’s new boat, wake surfing, Brad’s private lake, Rich announces the next Somers Capital holiday party, and Brad announces the title of his podcast.

Connect with Brad on Instagram: @thebradrice

Sell Your Home with Homepie: https://homepie.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.

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

How to Attract & Become a Higher Status Partner | Michael Sartain E207 Jun 25, 2024

Show notes

Rich sits down with Michael Sartain - Performance Coach, Air Force Navigator and Instructor, and Host. In 2019, Michael created Men of Action, a program that dedicates its time to teaching men how to increase their status, build an abundant lifestyle, find elite friends, and attend VIP events in under 25 days. Men of Action has had 400+ success stories. Michael is also the host of the Michael Sartain Show podcast.
Rich and Michael discuss hanging out last weekend, where beautiful people typically are, how to meet high level people at night clubs, being fake rich and the future of social media, “dad bods,” the importance of fitness, TRT and cold plunges.
They also reflect on cheating in relationships, bisexual partners, 50 Shades of Grey, dating age gaps, Ryan Gosling being “mid,” bikini competitions, how Michael met his girlfriend, low stimulus partners, Michael’s greatest dating hack, the direct and indirect dating games, un-sending messages, attention vs compliance, and Rich’s dating advice.

Lastly, Rich and Michael talk about current affairs, OJ Simpson, the removal of consequences in modern society, Wes Watson and Jordan Belfort, influencers and live streaming, Michael’s favorite stories with Dan Bilzerian, victim mentality, creating space for relationships, how mindset can anti-age you, Tom Brady and Gisele Bundchen’s relationship, the Ukraine war and WWIII, and first world problems.
Connect with Michael on Instagram: @michaelsartain
If you're ready to take your game to the next level and enjoyed everything you heard in this episode, click this link to schedule a call with Michael's team and get an exclusive discount for podcast listeners.

Level up with Men of Action: https://www.moamentoring.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

The New Cashflow Game | E206 Jun 24, 2024

Show notes

Rich and Thach Nguyen reveal the biggest real estate cashflow games to invest in for 2024, where they are getting deals, and a breakdown of how to buy real estate deals in markets like San Diego and Seattle.
Connect with Thach on Instagram: @thachnguyen

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

True Commitment is When Alternatives No Longer Exist | Saturday Edition E205 Jun 22, 2024

Show notes

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.

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

99% of Our Problems are Solved by Waking up at 5:30am and Cutting Out Alcohol | E204 Jun 21, 2024

Show notes

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__novak
If you or a loved one are suffering with addiction call or text Brandon at (610) 314-6747

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 a Retired Pro Skater Who Had a $70M Exit & Now Builds Large Apartment Buildings | Mikey Taylor E203 Jun 20, 2024

Show notes

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

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

Become Your Own Bank & Is the 401(K) a Scam? | Brandon Beal E202 Jun 18, 2024

Show notes

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

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

5 Ways Starting A Podcast Can Change Your Life | E201 Jun 15, 2024

Show notes

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.

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

How He's Turning Prefab ADU's Into Pocket Communities | Andrew Greer E200 Jun 13, 2024

Show notes

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

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

$38 Trillion Sits in American Retirement Accounts Today | James McCabe E199 Jun 11, 2024

Show notes

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_

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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