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The Rich Somers Report

The Future of Boutique Hotels & The Power of Personal Branding | Saturday Edition E159

The Rich Somers Report

Rich Somers

Business, Investing

5.01K Ratings

🗓️ 9 March 2024

⏱️ 33 minutes

🧾️ Download transcript

Summary

Rich joins co-hosts Thomas Castelli and Ryan Carriere on their podcast: Tax Smart Real Estate Investors. This episode originally aired in their feed on February 6th, 2024. On this episode, they discuss Rich's journey and why he transitioned from multifamily value-add and STRs to boutique hotels, STR regulations and tax strategies, and personal branding tips for real estate investors. If you have a question you'd like answered, please email info@somerscapital.com. Stay tuned every Satu...

Transcript

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0:00.0

You know all the strategy and all the

0:03.9

strategy and all the principles, but if no one knows who you are,

0:06.4

it's going to be challenging to really grow your business.

0:09.4

Welcome to the Rich Drummers Report where we talk real estate, business, and wealth building, all while keeping it real.

0:14.9

No fluff, no BS.

0:16.4

I hope that you enjoy the show.

0:18.6

Hey Rich, thanks for jumping on with us today.

0:25.0

For those who might not be familiar with your background,

0:28.0

would you be able to give our listeners a little bit of an overview of your background,

0:30.0

how you got started in real-stay investing?

0:33.1

Thomas, Ryan, I appreciate you guys having me all, man,

0:35.4

and super excited for this conversation today.

0:38.6

But yeah, man, I grew up like most folks, middle class. my mom was an immigrant from Taiwan and my my dad

0:46.2

grew up in Holland they both know the value of working hard for your money and saving your

0:50.7

money so I was always taught from young age to go to school, get good grades,

0:54.9

go to college and get a job and for the most part that's what I did.

0:58.0

I didn't know anything about real estate investing or entrepreneurs and my first taste of what it's like to control your income to a certain

1:05.0

extent was when I started working in a sales job in college I started selling cell

1:09.2

phones at a kiosk at the mall and I did really well at it and I really enjoyed the sales process and so a couple of my

1:16.1

coworkers went on to sell cars and they were like dude you'll make way more money so I went over I started

1:20.1

selling Nissan's while I was in college and dude I loved it and I thought man

1:24.7

when I get at college I want to go sell commercial real estate because I

...

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