#60.5: break*through – on getting unstuck (trailer)
Welcome back to break*through! In this week’s episode, we are elated to bring you yet another session from our new series under THE IDEALISTS. roster. For those of you who […]
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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.
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 – 07:09] Opening Segment
[07:09 – 16:24] 3x Return
[16:24 – 33:27] An Evolving Investor
Announcement: Download Our Sample Deal and Join Our Mailing List
[33:27 – 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
#1 Insight for Investing: Take action because we learn by doing. Don’t wait for everything to be perfect to get started.
Best Place to Grab a Bite in San Diego: Santana’s Mexican Food
Contact Rich:
To learn more go to Rich’s Instagram or find him on Linkedin.
Tweetable Quotes:
“All those risks are real, so put some weight on them!” – Rich Somers
“You 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, and be sure to hit that subscribe button so you do not miss an episode.
Welcome back to break*through! In this week’s episode, we are elated to bring you yet another session from our new series under THE IDEALISTS. roster. For those of you who […]
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