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The Rich Somers Report

Why This is the #1 Skill You Can Have as a Real Estate Investor & Hostel Investing Explained | Nathan St Cyr E267

The Rich Somers Report

Rich Somers

Business, Entrepreneurship, Investing

5910 Ratings

🗓️ 13 November 2024

⏱️ 65 minutes

🧾️ Download transcript

Summary

What if mastering one key skill could unlock your success in real estate investing? In this episode, Rich Somers and Nathan St Cyr dive into the importance of understanding risk and how it plays a central role in every successful investment strategy—whether you’re a seasoned pro or just getting started. Rich shares insights from his own journey, discussing how patience, perseverance, and a keen understanding of risk were critical in scaling his hotel investments. From his first property to no...

Transcript

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0:00.0

When we decided to do something big, we created this vision to create a $400 million

0:04.4

hospitality company off of a $400,000 down payment.

0:09.3

Yes, it's crazy.

0:10.6

$400,000 down payment is going to become a $400 million hospitality company.

0:14.7

And that's the true power of commercial real estate investing right there.

0:18.9

Hands down.

0:20.2

Welcome to the Rich Summers Report where we talk real estate, business, and wealth

0:24.1

building all while keeping it real.

0:25.9

No fluff, no BS.

0:27.5

I hope that you enjoy the show.

0:33.9

All right, guys.

0:35.0

Welcome to another episode of the report. Today feels like a new day as a real

0:40.0

estate investor as we just had the election last night. Donald Trump won and it was not even close.

0:47.0

This is a big day for real estate investors, big day for entrepreneurs and super excited for the

0:52.5

economy moving forward and really excited for our guest today. I got

0:57.8

someone who is doing big things in the hostel space, doing big things in the hospitality

1:01.4

states. He actually is turning a $400,000 down payment into $8 million of hostels. I got none

1:09.5

other than my guy, Nate Dogg, St. Sierra, Nate, welcome to the show, brother. Yeah, Rich, man, it's been too long. I'm pumped to be here. Dude, so to freaking finally connect in person. You're in our hotel investing.com mastermind. And, like, I feel like I already know you because we've been hanging out. I've had your partner Michael Russell on the podcast the podcast before, but yeah, it's crazy how like you feel like you know someone and then you,

1:32.1

you meet them in person for the first time ever, but it's like we already know each other.

1:34.8

Well, I want to, can I touch on that for a second? Yeah, of course. So before we, we jump into it

1:39.1

here, my biggest passion in life and my biggest, what I feel like is my just God-given purpose,

1:47.4

is to just to have an impact on people's lives to help them become their best self.

...

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