The Rich Somers Report

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 purchaseJoin 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.

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: @wildoakcapitalVisit 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/richsomersJoin 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.

On today’s episode Rich sits down with Savannah Arroyo “The Networth Nurse” - Entrepreneur, Real Estate Investor, Part-time Nurse, CEO & Founder of Networth Nurse, Author, and Coach. Savannah has worked as a Registered Nurse for over ten years, with extensive experience in leadership and healthcare administration. Through her personal brand, Networth Nurse, Savannah has helped hundreds of nurses with their finances. With an emphasis on education, Savannah leveraged her brand to purchase over $15M of real estate, partnering primarily with healthcare professionals to scale her portfolio. Eager to address financial literacy for the entire healthcare community, Savannah sought to expand her efforts by creating InvestHealth, a Financial Health Benefit for Healthcare Companies. Rich and Savannah start off by discussing meeting on Rich’s old podcast and what Savannah has been doing since, investing in startups, being passionate about the healthcare community, what it was like working in healthcare during the COVID-19 pandemic, Savannah’s work history as a nurse, Savannah’s real estate portfolio, the current market rate environment, thinking long term, and where Savannah sees opportunity in Oregon.They then reflect on Savannah’s search criteria for deals, seller financing and loan servicing, Savannah’s startup - InvestHealth, financial literacy, paying off student loans, connecting Savannah’s company to healthcare companies, in-person speaking events, and active vs passive investing.Lastly, they talk about the opportunity of investing with retirement funds, the opportunities of the tech space, the CARES Act, education and automation in real estate, withdrawing money from 401ks, Forex Trading, Savannah’s real estate portfolio, what she’s looking forward to in 2024, and celebrating financial freedom. Connect with Savannah on Instagram: @thenetworthnurseVisit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchaseBook a free call with Prime Corporate Services to create a business strategy primecorporateservices.com/richsomers 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.

Rich Somers and Savannah Arroyo, The Networth Nurse, discuss transitioning from W2 employees to real estate investors. They share literature, podcasts, and strategies for pursuing the '5-9' approach, finding 'whys,' embracing mistakes, and boosting productivity. The conversation highlights sacrifices, personal growth, and the challenges of entrepreneurship while emphasizing perseverance and self-support for success.

On today’s episode Rich sits down with Jack McColl “The King of Debt” - Entrepreneur, Founder of Credit Stacking, and Business Credit Coach. Jack, better known as “The King of Debt,” has been featured on Market Watch, Disrupt Magazine, Yahoo Finance, and Forbes. He is a self-made mogul who went from having zero dollars in business credit to being approved for $500,000 in a little more than a year. Jack has mentored thousands of entrepreneurs, helping them get access to hundreds of thousands of dollars of 0% interest capital to start, scale, and finance their businesses. Rich and Jack start off by discussing Jack’s first episode with Rich (Episode 68), Jack’s 5 week trip to South America, Columbia and kitesurfing, skydiving in Venezuela, Jack’s passion for sports and hobbies, Jack’s favorite automated business services, optimizing business, and Jack joining the 800 club for testosterone levels and credit scores. They then reflect on their favorite exercises, the importance of physical fitness, what it’s like showering on planes, comparing first class airlines, accumulating credit card points at different banks, Jack’s experience helping clients secure $150,000 0% interest business credit, the AmEx Business Gold and Platinum cards, and the Wells Fargo’s Autograph Journey Card.Lastly, they talk about buying assets with business credit, the AmEx business card pros and cons, which cards Jack recommends using, the Bilt Credit Card, tools to keep track of debt payments, the Wheels Up AmEx Travel experience, Private Jets, Set Jet, Elon Musk’s Starlink Satellites, Jack’s big move to Utah, Rich’s experience as a pilot, and Kris Krohn. Connect with Jack on Instagram: @jackmccollVisit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchaseJoin 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.

On today’s episode Rich sits down with Dr. Alex Roher, MD - Entrepreneur, Board Certified Anesthesiologist, Nose Filler Specialist, and Owner/Medical Director of SD Botox and Weight Loss Shots. Dr. Roher realized that he wasn’t as fulfilled by his work as he could be. Anesthesia was rewarding, but it didn’t fulfill his artistic side. So to satisfy his creative yearning, he started doing Botox and dermal filler on his wife, and then her friends, and then her friend’s friends. As the business grew, he decided to change the course of his career and pursue a path that could help patients transform their lives for the better through aesthetics.This vision came to fruition with the opening of SDBotox in 2013. Since then, Dr. Roher has grown his business to become one of the most sought-after medical aesthetic clinics in San Diego. Throughout the years, he has introduced several groundbreaking procedures to his patients in San Diego. He’s helped thousands achieve incredible results, which keeps them coming back time and time again for all of their cosmetic needs.Rich and Dr. Roher start off by discussing how Dr. Roher got his start in Botox, leaving anesthesiology behind, the pros and cons of using Botox, Rich’s experience with Botox, the mindset of entrepreneurship, Dr. Roher’s impact on the San Diego community, what his business provides to clients, tattoo and hair removal, the best dosage for Botox, the history of botox, the various usage of Botox, lip and eye fillers, and the importance of moderation. They then reflect on the therapeutic nature of Botox, Botox dosages, the botox family, Dr. Roher’s experience with COVID, generational reactions to Botox, taking care of ourselves, the healthcare system, Ozempic and how it relates to diabetes, the pros and cons to Ozempic, Uber Eats, Dr. Roher’s 7 day water fast, when we should start taking Ozempic, Dr. Roher’s business modeling, the history of Ozempic, the pharmaceutical industry, and why everyone hates insurance companies.Lastly, they talk about real estate insurance, hormone replacement, testosterone injections in men and women, Dr. Roher’s experience with testosterone, the pros and cons of injecting testosterone, and nose fillers. Connect with Alex on Instagram: @dralexnosebest Visit grovescapital.com/richsomers to receive a $2,500 credit on closing costs or appraisalsJoin 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.

On today's "Saturday Edition" episode, Rich and Alex start off by talking about the Somers Capital yearly yacht meetups, which begin on May 11th. They then analyze the pros and cons of online dating, proper dating etiquette, and share some of their own first date stories. 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.

On today’s episode Rich sits down with Lauren Fisher - 8x CrossFit Games athlete, real estate investor, and founder of Grown Strong, an online fitness community for women. When she’s not busy training, competing, or hosting fitness retreats, she enjoys learning about & investing in real estate with her husband and family.Rich and Lauren start off by discussing working out at Compound (a San Diego fitness complex), Lauren’s new team, Lauren’s workout routine, a deep dive of CrossFit exercises, Rich’s workout routine, the benefits of lifting, how Lauren got into weightlifting and CrossFit, the importance of real estate investing, what it takes to be an elite athlete, coaching in CrossFit and real estate, and testing testosterone levels for athletes.They then reflect on women bodybuilders, professional pickleball, natural supplements, misconceptions in CrossFit and weightlifting, transitioning athletes, planning mastermind and fitness retreats across the world, and returning members to retreatsLastly, they talk about destination spots, wine tasting across the world, Lauren and her husbands new property in Denmark, airbnb restrictions, the rate environment, why Rich is bullish on San Diego, and Lauren’s PRs in Crossfit. Connect with Lauren on Instagram: @laurenfisherJoin Lauren’s Fitness Retreat Community: https://retreats.grownstrong.com/ Book a free call with Prime Corporate Services to create a business strategy primecorporateservices.com/richsomers 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.

On today’s episode Rich sits down with Michael Chang - Entrepreneur, Real Estate Investor, and co-Founder and partner at Trustbnb Vacation Rentals and Trustbnb Capital. Based in New York, Michael owns and operates a portfolio of short term rentals in Philadelphia, PA and the Smoky Mountains, TN. Prior to building Trustbnb, Michael was a New York City-based investment banker, who spent over a decade at Citigroup, Merrill Lynch, and Jefferies advising public companies, private equity firms, family offices, and venture capitalists. He has advised and executed over $40 billion in transaction value across 52 deals in his career. Rich and Michael start off by discussing Manhattan, Wolfgang’s Steakhouse, Michael’s favorite sushi restaurant in New York, Brian Malarkey, Rich’s fourth boutique hotel closed, Michael’s portfolio, rental arbitrage, multifamily acquisition, the importance to investing into larger apartment buildings, the process to taking on large multifamily arbitrage deals, and looking for the right buildings to arbitrage in.They then reflect on the biggest risks to the arbitrage model, Rich’s arbitrage deals across the US, the best markets to arbitrage in, what Michael recommends doing to start in arbitraging, Michael’s team layout, overseas virtual assistants, tracking KPIs, the CEO mindset, and buying in the Smokys. Lastly, they talk about moving equity, buying conservatively, the current rate environment, cost segregation studies, picking the right accountant, Michael’s under-the-radar potential new market, what Michael’s the most excited about in the coming year, where happiness stems from, the perks of financial freedom, and how entrepreneurship is a little like thanksgiving. Connect with Michael on Instagram: @michaelchangbnbVisit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchaseVisit grovescapital.com/richsomers to receive a $2,500 credit on closing costs or appraisalsJoin 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.

Rich discusses the journey of closing on a 44 unit boutique hotel, negotiating with the seller, pricing the deal, and overcoming mishaps. He highlights the challenges of real estate investing and stresses the importance of perseverance in commercial deals.