Join Daniel Nickles with his guest Rich Somers as he talks about pre-resignation game plans, the biggest risk to short-term rental assets, and the market gap that FortuneCribs fills as a firm. After sharing why resigning was his best decision ever made, Rich explains how he earns an average of $18,000—the least—from his portfolio of short-term rentals.
In this episode you will learn:
- Rich Somers – on doing what others deem as too risky
- Don’t burn bridges without a plan in place
- How Rich Somers got started with short-term rentals
- The challenges to short-term rentals
- FortuneCribs – All in one turnkey short-term rental firm
About Rich Somers:
Rich is an active real estate investor and entrepreneur holding a portfolio of apartment buildings and short-term vacation rentals valued in excess of $35M. Rich also co-hosts a weekly real estate investing podcast, “The Multifamily Takeoff,” where he interviews top real estate investors and industry experts from all over the world. He also 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. A graduate of California State University San Marcos College of Economics, Rich is passionate and eager to leverage his network and expertise to help you maximize your returns and grow your real estate portfolio.
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