(408) 827-5745
Casmon Capital Group |
1 year ago
Report post
Report user
Block user
casmoncapital

Multifamily Insights: Investing in Apartments, Short Term Rentals, and Boutique Hotels with Rich Somers, Ep. 450

Multifamily Insights: Investing in Apartments, Short Term Rentals, and Boutique Hotels with Rich Somers, Ep. 450

  • About
  • Episodes
  • All Episodes
  • Categories
  • general
  • Real Estate
  • Archives
  • 2022
  • December
  • November
  • October
  • September
  • August
  • July
  • June
  • May
  • April
  • March
  • February
  • January
  • 2021
  • December
  • November
  • October
  • September
  • August
  • July
  • June
  • May
  • April
  • March
  • February
  • January
  • 2020
  • December
  • November
  • October
  • September
  • August
  • July
  • June
  • May
  • April
  • March
  • February
  • January
  • 2019
  • December
  • November
  • October
  • September
  • August
  • July
  • June
  • May
  • April
  • March
  • February
  • January
  • 2018
  • December
  • November
  • October
  • September
  • August
  • July
  • June
  • May
  • April
  • March
  • February
  • January
  • 2017
  • December
  • November
  • October
  • September
  • August
    • Preview Mode Links will not work in preview mode

    Welcome to Target Market Insights. A podcast to help real estate investors navigate neighborhoods through the lens of local experts. In each episode, we speakĀ to localĀ specialists to learnĀ about their market,Ā usefulĀ tips, and the latest trends and developments. This show is designed to help you with the insights you need to win your target market.

  • Stitcher
    1. All Episodes
    2. Investing in Apartments, Short Term Rentals, and Boutique Hotels with Rich Somers, Ep. 450

    Investing in Apartments, Short Term Rentals, and Boutique Hotels with Rich Somers, Ep. 450

    Nov 8, 2022

    Rich Somers is an active real estate investor and entrepreneur holding a portfolio of apartment buildings and short-term rentals valued in excess of $35M. Rich started his real estate investing journey by cashing out his 401K to buy his first apartment building. Rich has grown his portfolio to over 350 units and co-hosts a monthly real estate networking event in his local city of San Diego. Most recently, Rich founded FortuneCribs as he discovered a shortage of sophisticated, performance-driven operators and a growing need for an all-in-one acquisition, design and management firm in the short-term rental space.Ā 

    We talked to Rich about partnerships, undervalued opportunities, how he and his business evolved over time, the importance of having a brand, and investing in boutique hotels.

    Groundbreaker: Click here to learn how to raise more money and speed up the syndication process by 80%!

    [00:01 ā€“ 07:09] Opening SegmentĀ 

  • Rich talks about his background;
  • He talks about how he got into real estate;

    • [07:09 ā€“ 16:24] 3x Return

  • How he decided he wanted to be an investor;
  • Why he wanted to partner up with others;
  • How you can get a 3x return;
  • The importance of finding an undervalued opportunity;
  • Rich talks about how their business evolved over time;
  • What to look for in a partner;

    • [16:24 ā€“ 33:27] An Evolving Investor

  • How to grow your social media presence;
  • How building an audience can help you with your business;
  • What makes boutique hotels a great investment;
  • Recession-proof hotels;
  • How to use the current lending environment to your advantage;
  • Rich talks about the benefits of seller financing;
  • He talks about his short term rental business;

    • Announcement: Download Our Sample Deal and Join Our Mailing List

    [33:27 ā€“ 36:40] Round of Insights

    Apparent Failure: Hiring the wrong property manager in his first deal

    Digital Resource: pricelabs.co

    Most Recommended Book: Cashflow Quadrant

    Daily Habit: Using monday.com

    Ā #1 Insight for Investing: Take action because we learn by doing. Donā€™t wait for everything to be perfect to get started.

    Ā Best Place to Grab a Bite in San Diego: Santanaā€™s Mexican Food

    Contact Rich:

    To learn more go to Richā€™s Instagram or find him on Linkedin.Ā 

    Tweetable Quotes:

    ā€œAll those risks are real, so put some weight on them!" - Rich Somers

    ā€œYou will only grow to the level of your constraints, not your potential." - Rich Somers

    Thank you for joining us for another great episode! If you're enjoying the show, please LEAVE A RATING OR REVIEW,Ā  and be sure to hit that subscribe button so you do not miss an episode.

    Ā© 2021 John Casmon

    Multifamily Insights: Investing in Apartments, Short Term Rentals, and Boutique Hotels with Rich Somers, Ep. 450
    You can contact us to get more choices
    0
    You can contact us to get more choices
    Related posts
    The Complete Guide to Investing in Furnished Short Term Rentals
    The Complete Guide to Investing in Furnished Short Term Rentals
    The Complete Guide to Investing in Furnished Short Term Rentals
    The Complete Guide to Investing in Furnished Short Term Rentals
    mashvisor mashvisor | 1 year ago
    If youā€™ve been actively thinking of investing in furnished short term rentals, there are a couple of regularities that must be given priority. Table of Contents What Are Short Term Furnished Rentals? How to Get Started The Pros and Cons Tips for Running Furnished Short Term Rentals Final Thoughts So far, investing in short term rentals has proven to be an effective way for the host to earn more than a generous profit. Since the situation with the pandemic seems to be stabilizing, that gives i...
    If youā€™ve been actively thinking of investing in furnished short term rentals, there are a couple of regularities that must be given priority. Table of Contents What Are Short Term Furnished Rentals? How to Get Started The Pros and Cons Tips for Running Furnished Short Term Rentals Final Thoughts So far, investing in short term rentals has proven to be an effective way for the host to earn more than a generous profit. Since the situation with the pandemic seems to be stabilizing, that gives i...
    Buying Short-Term Rentals
    Buying Short-Term Rentals
    Buying Short-Term Rentals
    Buying Short-Term Rentals
    nar nar | 2 years ago
    In this weekā€™s episode, we discuss how short-term rentals are booming in the current real estate market. Find out where to buy, what to buy, and how to keep the rentals filled with new tenants every week. Youā€™ll also learn how to identify which communities welcome short-term rental properties, and which ones prohibit them.
    In this weekā€™s episode, we discuss how short-term rentals are booming in the current real estate market. Find out where to buy, what to buy, and how to keep the rentals filled with new tenants every week. Youā€™ll also learn how to identify which communities welcome short-term rental properties, and which ones prohibit them.
    Appraising Short-Term Rentals/Airbnb
    Appraising Short-Term Rentals/Airbnb
    Appraising Short-Term Rentals/Airbnb
    Appraising Short-Term Rentals/Airbnb
    appraisaltoday appraisaltoday | 1 year ago
    Debate on Appraising Short-Term Rentals By Julie Friess, SRA, AI-RRS, MA Video 22 minutes. Worth Watching! Excerpt: What can appraisers learn when it comes to short-term and long-term rentals? What role does an appraiser take when sorting between the two? What can appraisers learn when it comes to short-term and long-term rentals? What role does an appraiser take when sorting between the two? These questions and much more will be answered. My comments:Ā Julie is not referring to an owner-occup...
    Debate on Appraising Short-Term Rentals By Julie Friess, SRA, AI-RRS, MA Video 22 minutes. Worth Watching! Excerpt: What can appraisers learn when it comes to short-term and long-term rentals? What role does an appraiser take when sorting between the two? What can appraisers learn when it comes to short-term and long-term rentals? What role does an appraiser take when sorting between the two? These questions and much more will be answered. My comments:Ā Julie is not referring to an owner-occup...
    From the Screen to Short-Term Rentals and How ā€œStargirlā€ Started Investing
    From the Screen to Short-Term Rentals and How ā€œStargirlā€ Started Investing
    From the Screen to Short-Term Rentals and How ā€œStargirlā€ Started Investing
    From the Screen to Short-Term Rentals and How ā€œStargirlā€ Started Investing
    Business & Economy Website Business & Economy W... | 1 year ago
    If youā€™re unsure about real estate, run the numbers. Itā€™s that simple. Once you run the numbers, youā€™ll have clarity on which decisions to make and tangible reassurance that you made the right ones. Todayā€™s guest, actress Brec Bassinger, shares how focusing on the numbers has given her the confidence to become the successful investor she is today. Brecā€™s name may sound familiar to some of you. Sheā€™s been the star of Bella and the Bulldogs and the new hit show, DCā€™s Stargirl. Brec?...
    If youā€™re unsure about real estate, run the numbers. Itā€™s that simple. Once you run the numbers, youā€™ll have clarity on which decisions to make and tangible reassurance that you made the right ones. Todayā€™s guest, actress Brec Bassinger, shares how focusing on the numbers has given her the confidence to become the successful investor she is today. Brecā€™s name may sound familiar to some of you. Sheā€™s been the star of Bella and the Bulldogs and the new hit show, DCā€™s Stargirl. Brec?...
    How to Start Investing in Short Term Rentals: A Complete Guide
    How to Start Investing in Short Term Rentals: A Complete Guide
    How to Start Investing in Short Term Rentals: A Complete Guide
    How to Start Investing in Short Term Rentals: A Complete Guide
    mashvisor mashvisor | 2 years ago
    Short term rentals are real estate investment properties that are bought specifically to be rented out as vacation rentals. They allow investors to generate income by renting out their propertiesā€¦
    Short term rentals are real estate investment properties that are bought specifically to be rented out as vacation rentals. They allow investors to generate income by renting out their propertiesā€¦
    Jake and Gino Multifamily Investing Entrepreneurs: MAKING THE SHIFT: From Short-Term to Long-Term Mi...
    Jake and Gino Multifamily Investing Entrepreneurs: MAKING THE SHIFT: From Short-Term to Long-Term Mi...
    Jake and Gino Multifamily Investing Entrepreneurs: MAKING THE SHIFT: From Short-Term to Long-Term Mi...
    Jake and Gino Multifamily Investing Entrepreneurs: MAKING THE SHIFT: From Short-Term to Long-Term Mi...
    Jake and Gino Jake and Gino | 1 year ago
    On this episode, Jake and Gino talk with Sean Magennis, the CEO of Capital 54, a Family Office dedicated to the Professional Services sector. He also Chairs two portfolio companies: Lumini Network and Collective 54. Sean contributes over 30 years of experience to business leaders in growing professional services business both domestically and globally, through growth strategies, turnarounds, acquisitions and financings. Prior to Capital 54, Magennis was the Global President and COO of YPO. Key I...
    On this episode, Jake and Gino talk with Sean Magennis, the CEO of Capital 54, a Family Office dedicated to the Professional Services sector. He also Chairs two portfolio companies: Lumini Network and Collective 54. Sean contributes over 30 years of experience to business leaders in growing professional services business both domestically and globally, through growth strategies, turnarounds, acquisitions and financings. Prior to Capital 54, Magennis was the Global President and COO of YPO. Key I...
    Jake and Gino Multifamily Investing Entrepreneurs: MAKING THE SHIFT: From Short-Term to Long-Term Mi...
    Jake and Gino Multifamily Investing Entrepreneurs: MAKING THE SHIFT: From Short-Term to Long-Term Mi...
    Jake and Gino Multifamily Investing Entrepreneurs: MAKING THE SHIFT: From Short-Term to Long-Term Mi...
    Jake and Gino Multifamily Investing Entrepreneurs: MAKING THE SHIFT: From Short-Term to Long-Term Mi...
    Jake and Gino Jake and Gino | 1 year ago
    On this episode, Jake and Gino talk with Sean Magennis, the CEO of Capital 54, a Family Office dedicated to the Professional Services sector. He also Chairs two portfolio companies: Lumini Network and Collective 54. Sean contributes over 30 years of experience to business leaders in growing professional services business both domestically and globally, through growth strategies, turnarounds, acquisitions and financings. Prior to Capital 54, Magennis was the Global President and COO of YPO. Key I...
    On this episode, Jake and Gino talk with Sean Magennis, the CEO of Capital 54, a Family Office dedicated to the Professional Services sector. He also Chairs two portfolio companies: Lumini Network and Collective 54. Sean contributes over 30 years of experience to business leaders in growing professional services business both domestically and globally, through growth strategies, turnarounds, acquisitions and financings. Prior to Capital 54, Magennis was the Global President and COO of YPO. Key I...
    How to Manage Multiple Properties for Short-Term Rentals
    How to Manage Multiple Properties for Short-Term Rentals
    How to Manage Multiple Properties for Short-Term Rentals
    How to Manage Multiple Properties for Short-Term Rentals
    rismedia rismedia | 1 year ago
    By Anica Oaks Passive income is on the rise as more people leave traditional jobs to become independent employees. Whether you own several properties or manage them for another owner, you should become familiar with key strategies that help things work smoothly. Here are some tips to keep in mind. Get Organized Set up computer [ā€¦] The post How to Manage Multiple Properties for Short-Term Rentals appeared first on RISMedia\'s Housecall.
    By Anica Oaks Passive income is on the rise as more people leave traditional jobs to become independent employees. Whether you own several properties or manage them for another owner, you should become familiar with key strategies that help things work smoothly. Here are some tips to keep in mind. Get Organized Set up computer [ā€¦] The post How to Manage Multiple Properties for Short-Term Rentals appeared first on RISMedia\'s Housecall.
    Athens yield calculator: comparing short-term and long-term rentals by example
    Athens yield calculator: comparing short-term and long-term rentals by example
    Athens yield calculator: comparing short-term and long-term rentals by example
    Athens yield calculator: comparing short-term and long-term rentals by example
    tranio tranio | 2 years ago
    There is an unusual situation in the Athens property market where investment flats are more profitable for long-term rentals than short-term ones. Here is why.
    There is an unusual situation in the Athens property market where investment flats are more profitable for long-term rentals than short-term ones. Here is why.
    Ep 98: Short-Term Rentals and Crowdfunding with Frank Valencia
    Ep 98: Short-Term Rentals and Crowdfunding with Frank Valencia
    Ep 98: Short-Term Rentals and Crowdfunding with Frank Valencia
    Ep 98: Short-Term Rentals and Crowdfunding with Frank Valencia
    casmoncapital casmoncapital | 4 years ago
    Short-Term Rentals and Crowdfunding are two of the biggest real estate developments in recent history. Frank Valencia launched platforms to help investors take advantage of both through Bongo Property Management and Bongo Capital. Bongo PM manages over 4,000 short term rental units across the United States, Latin America, Europe, and Asia. Bongo Capital is the leading investment firm specialized in short term rental developments globally. On todayā€™s episode, Frank shares info about domestic an...
    Short-Term Rentals and Crowdfunding are two of the biggest real estate developments in recent history. Frank Valencia launched platforms to help investors take advantage of both through Bongo Property Management and Bongo Capital. Bongo PM manages over 4,000 short term rental units across the United States, Latin America, Europe, and Asia. Bongo Capital is the leading investment firm specialized in short term rental developments globally. On todayā€™s episode, Frank shares info about domestic an...