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
5 Expensive Mistakes to Avoid When Buying Your First Boutique Hotel | Kassidy Warren Saturday Edition E302
Buying a boutique hotel can be one of the most lucrative real estate moves—but one costly mistake can wipe out your profits. In this episode of The Rich Somers Report, Rich and Kassidy Warren break down the five most expensive mistakes new hotel investors make and how to avoid them.
They cover:
Why investing in oversaturated Airbnb markets can destroy your hotel’s profitability.
The difference between investing for cash flow vs. appreciation—and why true wealth is built through forced appreciation.
The critical importance of knowing your exit strategy before you buy—so you’re not stuck with an asset no one wants.
Why underwriting and due diligence are non-negotiable, plus how to avoid running out of money during renovations.
The biggest mistake of all: going at it alone instead of leveraging experienced operators and investors.
Rich and Kassidy also share details on their free two-day boutique hotel investing workshop designed to help new investors get started in this space. Whether you’re eyeing your first deal or looking to scale, this episode is packed with insider knowledge to keep you from making costly mistakes.
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