Why You Should Burn Your 401K and Go “All-in” on Real Estate Investing | Hunter Thompson (Guest Episode) E306

The Rich Somers Report

Rich Somers

Business, Entrepreneurship, Investing

5 • 910 Ratings

🗓️ 11 February 2025

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

Is playing it safe really the best path to wealth? In this episode, Rich Somers joins Hunter Thompson on Cash Flow Connections to break down why he walked away from a secure W-2 job, cashed out his 401K, and went all-in on real estate investing—ultimately building an eight-figure net worth through boutique hotels. Rich and Hunter dive into: Why the greatest wealth transfer in history is creating once-in-a-generation opportunities.The power of taking bold action and how real estate can provide...

Transcript

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0:00.0	The reason I love commercial real estate is because we get to force our appreciation, which is why I love the boutique hotel asset class.
0:06.6	40 million baby boomers retiring here in the next six to seven years.
0:09.9	A lot of them own these smaller boutique hotels that are priced 10 million and under.
0:13.3	They haven't been renovated in decades.
0:15.3	They are not using any technology to operate these assets.
0:18.4	And so there's a big gap in terms of where we can buy these assets
0:21.9	and where they can be worth after we stabilize them, do our value as strategy, and operate them
0:27.8	the way they should be operated. Welcome to the Rich Strummers Report where we talk real estate,
0:33.0	business and wealth building, all while keeping it real. No fluff, no BS. I hope that you enjoy the show.
0:43.9	Social media gangster, boutique hotels gangster, former air traffic controller, you know him.
0:51.5	Rich Summers crushing it on Instagram, raising capital, doing deals.
0:55.2	He has done more than $80 million of deals. He's the founder of Summers Capital, has an investment
1:00.4	fund that focuses on boutique hotels. He's honestly, you position yourself as a leader in that space
1:06.4	really quickly, which is awesome to see. He goes to show you the power of story, the power being yourself, and I've seen you taking pictures and doing videos with Grant now, which is awesome to see. He goes to show you the power of story, the power being yourself,
1:11.6	and I've seen you taking pictures and doing videos with Grant now, which is awesome. Rich, welcome
1:16.0	the program, man. Hunter, I appreciate you having me on, man, quite an intro, dude. And man,
1:21.7	I am excited. We got an amazing opportunity in front of us. They're calling this the greatest
1:26.7	transfer of wealth in
1:27.6	American history. 40 million baby boomers retiring in the next six years. And by the way,
1:32.1	by the way, we have a real estate investor who just took over office and loved him or hate
1:37.1	them. The Republicans took over the House. The Republicans took over the Senate. And we are
1:41.4	going to have a lot of policies going to place over these next
	...

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