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 $50M. 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
How This Man Built a $70M Multifamily Portfolio in Just 3 Years | Michael Garcia E25
In today’s episode, Rich sits down with up-and-coming real estate investor and operator, Michael Garcia, who owns and controls $70M worth of multifamily apartments. Previously he worked as a bond trader in Chicago, where he started educating himself on real estate during his downtime. One day out of the blue, his CFO shut the business down and Michael decided to take the leap into real estate investing. They talk about what his portfolio looks like today, the key to getting off-market deals, and the types of assets & markets he’s targeting. They discuss the 506(b) & 506(c) models of structuring deals for investors, advice for new investors just getting started, and the biggest influences in Michael's career.
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