On today’s episode Rich sits down with Mike Tighe - Entrepreneur, Real Estate Investor, Author, Private Pilot, US Navy Veteran, Former Air Traffic Controller, and co-host of the Real Estate Takeoff Podcast. Mike left his $200,000 salary W2 job and now has over $80 Million in Real Estate, owned or built, and his podcast has over 250,000 downloads. He also happens to be one of Rich’s former partners and is responsible for getting Rich into the real estate game.
Rich and Mike start off by discussing how Mike introduced Rich into real estate, their first joint purchase, the law of reciprocity, why they love the multifamily asset class, why the Indianapolis market has been thriving, what Mike 1031 exchanged his portion of their first deal into, Joshua Tree and Big Bear, buying Airbnbs in 2022, oversaturated markets, the high interest rate market, pivoting into real estate development, why Mike wants to continue in the 30-60 unit build market, why Rich sees opportunity in Boutique Hotels, what Rich’s business coach has taught him, being bullish on San Diego, and the bonus ADU program that Mike utilizes.
They then reflect on Mike’s properties in San Diego, permitting processes and coastal development permits in San Diego, return profiles and quarterly distributions, leap of faith modeling, bridge debt and loan lending, loans-to-purchase and construction debt, not triggering capital gains, refinancing, what Mike is looking to purchase next, the best way to source development deals, buying rundown retail, Andrew Greer’s episode, and why Rich is bullish on San Diego.
Lastly, they talk about what’s next for Mike, business coaches, Hunter Thompson, how to attract capital, networking events, co-GP armies, capital raising, Rich and Mike’s experience beginning in real estate, Mike’s advice for anyone looking to get into real estate, getting around the right groups, why hate never comes from above, the pay-to-play model, Mike’s wedding, and Mike’s biggest takeaways.
Connect with Mike on Instagram: @miketighe_
Visit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchase
Visit primecorporateservices.com/richsomers to book a free call
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Connect with Rich on Instagram: @rich_somers
Interested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more.
Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call.
Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.
On today’s episode Rich sits down with Mike Tighe - Entrepreneur, Real Estate Investor, Author, Private Pilot, US Navy Veteran, Former Air Traffic Controller, and co-host of the Real Estate Takeoff Podcast. Mike left his $200,000 salary W2 job and now has over $80 Million in Real Estate, owned or built, and his podcast has over 250,000 downloads. He also happens to be one of Rich’s former partners and is responsible for getting Rich into the real estate game.
Rich and Mike start off by discussing how Mike introduced Rich into real estate, their first joint purchase, the law of reciprocity, why they love the multifamily asset class, why the Indianapolis market has been thriving, what Mike 1031 exchanged his portion of their first deal into, Joshua Tree and Big Bear, buying Airbnbs in 2022, oversaturated markets, the high interest rate market, pivoting into real estate development, why Mike wants to continue in the 30-60 unit build market, why Rich sees opportunity in Boutique Hotels, what Rich’s business coach has taught him, being bullish on San Diego, and the bonus ADU program that Mike utilizes.
They then reflect on Mike’s properties in San Diego, permitting processes and coastal development permits in San Diego, return profiles and quarterly distributions, leap of faith modeling, bridge debt and loan lending, loans-to-purchase and construction debt, not triggering capital gains, refinancing, what Mike is looking to purchase next, the best way to source development deals, buying rundown retail, Andrew Greer’s episode, and why Rich is bullish on San Diego.
Lastly, they talk about what’s next for Mike, business coaches, Hunter Thompson, how to attract capital, networking events, co-GP armies, capital raising, Rich and Mike’s experience beginning in real estate, Mike’s advice for anyone looking to get into real estate, getting around the right groups, why hate never comes from above, the pay-to-play model, Mike’s wedding, and Mike’s biggest takeaways.
Connect with Mike on Instagram: @miketighe_
Visit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchase
Visit primecorporateservices.com/richsomers to book a free call
--
Connect with Rich on Instagram: @rich_somers
Interested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more.
Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call.
Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.