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
What Not to Buy if You Want to Make Money in Real Estate | Mikey Taylor E374
Want to build wealth in real estate? Start by knowing what not to buy.
In this episode, Rich links up with Mikey Taylor to expose the most common mistakes investors make when chasing deals—and why owning the wrong type of real estate can quietly kill your returns. From high-rise condos and HOAs to the myth of the “dream home,” Mikey breaks down the numbers, the opportunity costs, and what the wealthy do differently.
They dive into:
- Why high-rise condos are the worst-performing asset class in real estate
- The real reason renting isn’t “throwing money away”
- What the Fed’s rate hikes actually created in the housing market
- How Mikey saves $8K/month and invests the difference in cash-flowing properties
- Why cash flow isn’t king—and what really builds wealth long term
If you want to think like an investor, not a homeowner, this one will shift your entire lens.
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