The Rich Somers Report Rich Somers

On today’s episode, Rich sits down with Golden Tate - Former Wide Receiver for the Seattle Seahawks, Detroit Lions, Philadelphia Eagles, and New York Giants, Center Fielder for the Port Angeles Lefties, Husband, and Father. Golden, originally from Nashville, Tennessee, is a former NFL wide receiver and multi-sport athlete known for his exceptional talent and versatility. Tate's journey to professional sports began at the University of Notre Dame, where he excelled both on the football field and the baseball diamond. Tate became the first-ever Biletnikoff Award winner from Notre Dame. He was drafted twice for MLB, but ultimately chose the NFL and was drafted by the Seattle Seahawks in the 2nd round, 60th overall pick, in the 2010. During his four-year tenure with the Seahawks, Tate played a pivotal role in the team's victory at Super Bowl 48.

Tate earned numerous accolades, including a Pro Bowl selection in a standout season where he recorded an impressive 99 catches for over 1,330 yards. For 5 seasons from 2015-2019, Tate held the YAC King title throughout the NFL with 1,003 yards after the catch, (nearly doubling Larry Fitzgerald’s 674 YAC, in 2nd place). His peers recognized his talent and contributions, voting him as one of the NFL's Top 100 Players in 2015. 

Rich and Golden start off by discussing Golden’s love for football and baseball, playing football and baseball at Notre Dame, getting drafted by the Arizona Diamondbacks and the San Francisco Giants, balancing sports and social life, comparing athletes now to 10 years ago, managing distractions, Golden’s wife Elise, David Goggins and mental toughness, never being satisfied with where you are, the transition into retirement for athletes, and the difficulty of being a wide receiver.

They then reflect on living in San Diego, Drew Brees, Golden’s experience playing ping pong, going pro in pickleball, Golden’s famous Hail Mary catch against the Packers, maximizing opportunities, Golden’s experience at the Super Bowl, his experience playing for the Detroit Lions and the New York Giants, negotiating contracts, why Golden left the Seahawks, and the fallout between Golden and Russell Wilson. 

Lastly, they talk about Manti Te’o’s catfish story, where hate comes from, who makes for the best leaders, why life is all about perspective, Grant Cardone and pride, humility, Golden’s relationship to religion, accountability, athlete contracts and what agents make, Ohtani’s contract with the Dodgers, where money really goes for athletes, BYLT, flying private jets, investing in real estate through Avatar, and America’s best kept secret.
 
Connect with Golden on Instagram: @showtimetate

Book a free call with Prime Corporate Services to create a business strategy primecorporateservices.com/richsomers

Visit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchase


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Connect with Rich on Instagram: @rich_somers

Interested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more.

Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call.

Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today's "Saturday Edition" episode, Rich joins DJ Young on his podcast - Conversations with DJ Young.  DJ grew up in Burriana, Spain and played played junior tennis competitively from ages 4 to 16. He was first introduced to pickleball at age 18 by his dad and has won numerous pickleball accolades since turning pro, including the World Pickleball Championships, MLP Season 2 Newport Beach (Ranchers), and a PPA silver medal in men’s doubles.

Rich and DJ start off by discussing how Rich got into real estate investing, the risks to jumping into doing real estate, ending partnerships and risk tolerance, Rich’s plan for the future, what advice Rich has for new investors, the easiest way to become a millionaire, and calculated risks.

They then reflect on the dedication it takes to see results, Alex Hormozi, maximizing productivity during the day, Rich’s daily schedule, why Rich tucks his ears into his hat, Fast Lane Drive, Rich’s affiliate partnership with BYLT, Rich’s book recommendations, and the people Rich looks up to the most.Lastly, they talk about building communities, action takers, Connor McGregor & Golden Tate, why Rich predominately hires women, where the opportunities are, the 80-20 rule, and their next pickleball session.

Connect with DJ on Instagram: @djyoungpb

Visit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchase.

Book a free call with Prime Corporate Services to create a business strategy primecorporateservices.com/richsomers
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Connect with Rich on Instagram: @rich_somers

Interested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more.

Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call.

Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today’s episode Rich sits down with Kenny Simpson - Mortgage Broker, Entrepreneur, and Co-host of the Get in the Cashflow Game podcast. Kenny has been in the mortgage broker game for 20 years, has funded over $1.5 Billion in loans and helped 5000+ clients. He used to manage several multifamily properties (properties with upwards of 2000 units,) but sold them and now focuses his time strictly on the mortgage business, his wife and 2 girls, and his podcast. He also personal owns 50+ units with a net cashflow of $350K. 


Rich and Kenny start off by discussing meeting initially, Rich’s first time speaking, what Kenny has been up to since they first met, the current rate environment, Kenny’s analysis of the current rates, credit card delinquencies, the potential for rate cuts, who is buying deals right now, why Rich and Kenny are bullish on San Diego, who’s buying homes in San Diego, Kenny’s portfolio, becoming the biggest influencer in mortgages, and the endless opportunities in real estate.
 

They then reflect on Kenny’s brokerage system, Fannie Freddie Loans, pricing for Non-QM Products, DSCR Loans, maximizing leverage with Non-QM loans, appraisals, ADUs, several properties that Rich is currently looking at, and the Pacific Beach market. 

Lastly, they talk about commercial real estate, the value of relationships, Ryan Serhant, relationships over transactions, standing out to lenders, where Kenny sees the rate environment going in the next year, whether we’ll ever see 3% rates, Grant Cardone, how the fed has locked out buyers, which neighborhoods Kenny is bullish on in San Diego, Little Italy, and how Hotel Zindel is doing. 
 
Connect with Kenny on Instagram: @kennybsimpson

 
Visit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchase

Book a free call with Prime Corporate Services to create a business strategy primecorporateservices.com/richsomers
--
Connect with Rich on Instagram: @rich_somers

Interested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more.

Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call.

Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today’s episode Rich sits down with Soli Cayetano - Real Estate Investor, Entrepreneur, and Founder of Out Of State Investor Academy. Soli is a 26 year old investor located in the Bay Area, CA with a portfolio of properties in Ohio, Georgia, and soon to be Palm Springs, CA. In her first 4 years of investing she’s built a $10M portfolio including 45 rentals and a 64 unit multifamily syndication. She started investing using long term and mid term rental strategies and is now expanding into the boutique hotel space to create unique experiences. In 2023 she founded Out of State Investor Academy which has helped hundreds of investors learn how to build cash flow in more affordable markets across the country.

Rich and Soli start off by discussing initially meeting, coordinating yacht meetups, Rich’s first deal, Soli’s experience speaking at the Mid Term Rental Summit, how to raise private capital, the BRRRR strategy, Rich’s first boutique hotel, Soli’s experience as a commercial real estate broker, how Soli got into real estate investing, the opportunities afforded by real estate investing, how Rich got into real estate investing, the price range that Soli buys in, Cincinnati, Georgia, Soli’s first boutique hotel, geodomes, finding the right market, learning experiences, and getting what you asked for.

They then reflect on the Palm Springs market, nude resorts, sending in credibility stacks, pushing ourselves outside our comfort zone, adding tremendous value to properties, cosmetic changes, the importance of wellness, modernism in Palm Springs, Soli’s new community, mastermind retreats, Jesse Vasquez, and Rich’s new idea for a San Diego conference. 

Lastly, they talk about posting daily content, the changing algorithm, Alex Hormozi, the differences between platforms, viral content and the value of a good hook, TRT, and whether everyone should be posting social media content.
 
Connect with Soli on Instagram: @lattes.and.leases

Visit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchase
--
Connect with Rich on Instagram: @rich_somers

Interested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more.

Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call.

Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today’s episode Rich sits down with Vanessa Alfaro - Entrepreneur, Real Estate Investor, Founder of Venus Capital and LunaX.AI, Multifamily Syndicator, and Author of “10 paths.” Born in Venezuela, Vanessa founded Absot Marketing at 22, which quickly grew into a leading BTL firm. Expanding to Panama, she co-founded Octametro, hitting 7 figures in a year and earning the title “Woman of the Year.” Later, in Los Angeles, she co-established the top Hispanic content provider, Autoproyecto. Her real estate investment firm, Venus Capital, has earned $50M AUM in only three years under her leadership. She’s also a mother of 5 children.


Rich and Vanessa start off by discussing meeting at Tyler Deveraux’s conference, Vanessa’s first company, her experiences growing up in Venezuela, Jack McColl, entrepreneurial spirit, Rich’s experience traveling the world, and the dangers of living in the US.
 

They then reflect on the homelessness issues in the US, Vanessa’s experience with Invisible People and other non-profit organizations, Gavin Newsom’s $5 Billion deal to handle homelessness, how Vanessa met Jack Dorsey, Vanessa’s experience living in Panama, and utilizing AI in real estate investing and business.


Lastly, they talk about competing with other businesses utilizing AI, Artificial General Intelligence (AGI), super humans, Neuralink and Elon Musk, predictive personality tests and it’s uses in business,, SpaceX, utilizing AI with social media, how to use AI to underwrite deals, communicating with clients and friends, low and high risk entrepreneurs, Vanessa’s AI course, how Vanessa juggles running 3 companies and raising 5 children, and leveraging children and entrepreneurship.


Connect with Vanessa on Instagram: @vanessavenuscapital
 

Visit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchase
--
Connect with Rich on Instagram: @rich_somers

Interested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more.

Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call.

Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.

On today’s episode Rich sits down with Eric Nelson - Entrepreneur, Real Estate Investor, Founding Partner of Wild Oak Capital, and Host of “The Real Estate Mindset” Podcast. Eric Nelson is from southwest Colorado and received a degree in Civil Engineering from Colorado State University. He is the principal of Wild Oak Capital and is actively syndicating multifamily properties. He has been investing in real estate for over 10 years, and currently has over 650 units under management, with a team or with his wife.


Rich and Eric start off by discussing the challenges of multifamily investing, Michael Blank, living off of acquisition fees, Robert Martinez’s 2023 foreclosure, what killed deals during the COVID-19 pandemic, Rich’s multifamily portfolio, debt assumptions, the benefits of over-communicating  in real estate, and why asset management is important.

They then reflect on why Rich is bullish on Multifamily, struggling asset classes, analysis paralysis, doing the reps and shortcutting the path to success, Eric’s new deal in Texas with Eric Chadderdon, what Eric is doing today to respond to cap rates, Eric’s portfolio, seller carries, and the cost of capital.

Lastly, they talk about private debt funds, raising capital through 401k funds, transitioning funds from 506b to 506c, Bethany LaFlam, Eric’s first multifamily deal, Rich’s first boutique hotel deal, and Eric’s search criteria for finding multifamily deals.
 
Connect with Eric on Instagram: @wildoakcapital


Visit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchase


Book a free call with Prime Corporate Services to create a business strategy primecorporateservices.com/richsomers
--
Connect with Rich on Instagram: @rich_somers

Interested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more.

Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call.

Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.