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
You Want to be a Commercial Real Estate Investor? Make Sure You Don't Make These CRE Mistakes! | John Azar & Francisco Herrera E438
Most investors spend their time chasing returns. Institutional investors focus on protecting the downside—and that difference explains exactly why today’s market looks the way it does.
Rich sits down with John Azar and Francisco Herrera to unpack what really happened during the euphoric run of 2021–2022, how undisciplined underwriting and risky debt structures created today’s wave of distress, and why many so-called “broken deals” aren’t asset problems at all—they’re capital structure problems.
The conversation cuts through the noise around cap rates, rent growth, and interest rates to highlight what actually matters: buying right, underwriting conservatively, and understanding who the buyer will be years before you ever close on a deal. John and Francisco share how institutional investors think about risk, why hope is not a strategy, and how overleveraging turned strong assets into liabilities almost overnight.
Rich also dives into why relationships outperform deal-chasing, why saying “no” for long stretches can be a competitive advantage, and how disciplined operators stay durable through every phase of the cycle.
This is a clear-eyed, no-hype discussion on capital preservation, real underwriting, and what it takes to invest like an institution when the market stops being forgiving.
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