The Rich Somers Report
Join host Rich Somers, as he interviews top real estate investors, entrepreneurs, and athletes from all over the world to discuss all things real estate, business, and wealth related. His first guests include Tarek El Moussa - real estate investor & TV personality, and Cliff Avril - former Seattle Seahawks player & Super Bowl XLVIII Champion. Rich is an active real estate investor and entrepreneur holding a portfolio of apartment buildings, boutique hotels, and short-term rentals valued in excess of $80M. He was an air traffic controller for the government for 11 years, and cashed out his 401k to get his start in real estate investing. Connect with Rich on Instagram: @rich_somers
The Rich Somers Report
He Owns 9 Short Term Rentals & Just Bought His First Boutique Hotel | Kassidy Warren E194
On today’s episode, Rich sits down with Kassidy Warren – Real Estate Investor, Entrepreneur, Consultant and Former W2 Employee. Kassidy quit his job to turn to van life and consulting. In 2015, he started renting out his spare bedroom for $35/night and now has a $12 Million portfolio of properties across 5 states. He’s now a boutique hotel and short term rental investor.
Rich and Kassidy start off by discussing their journey to sobriety, living up to our full potential, Kassidy’s biggest drivers of growth and fitness, daily routines and the first 2 things Rich does when he starts his day.
They then reflect on Kassidy’s career path before real estate investing and how he got his start in real estate, Cashflow Quadrant, Rich’s experiences in Seattle, van life, Kassidy’s first property and the 20% rule, using real estate to buy more real estate, Rich’s advice for re-financing in the boutique hotel space, interest rates, and sunken costs on niche rentals.
Lastly, they talk about forcing appreciation, Kassidy’s first boutique hotel deal in Solvang, Rich’s Boutique Hotel Mastermind, underwriting conservatively, why boutique hotels are the best play in the current real estate market, a new deal that Kassidy is planning to co-partner on, being the pioneer in underwriting, cap rates in the 2020s, 10 year hold periods, Kassidy’s experience in Rich’s mastermind, the law of the first deal, and where the growth happens.
Connect with Kassidy on Instagram: @qkassidyw
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