On today’s episode Rich sits down with Kenny Simpson - Mortgage Broker, Entrepreneur, and Co-host of the Get in the Cashflow Game podcast. Kenny has been in the mortgage broker game for 20 years, has funded over $1.5 Billion in loans and helped 5000+ clients. He used to manage several multifamily properties (properties with upwards of 2000 units,) but sold them and now focuses his time strictly on the mortgage business, his wife and 2 girls, and his podcast. He also personal owns 50+ units with a net cashflow of $350K. 

Rich and Kenny start off by discussing meeting initially, Rich’s first time speaking, what Kenny has been up to since they first met, the current rate environment, Kenny’s analysis of the current rates, credit card delinquencies, the potential for rate cuts, who is buying deals right now, why Rich and Kenny are bullish on San Diego, who’s buying homes in San Diego, Kenny’s portfolio, becoming the biggest influencer in mortgages, and the endless opportunities in real estate.
 

They then reflect on Kenny’s brokerage system, Fannie Freddie Loans, pricing for Non-QM Products, DSCR Loans, maximizing leverage with Non-QM loans, appraisals, ADUs, several properties that Rich is currently looking at, and the Pacific Beach market. 

Lastly, they talk about commercial real estate, the value of relationships, Ryan Serhant, relationships over transactions, standing out to lenders, where Kenny sees the rate environment going in the next year, whether we’ll ever see 3% rates, Grant Cardone, how the fed has locked out buyers, which neighborhoods Kenny is bullish on in San Diego, Little Italy, and how Hotel Zindel is doing. 

Connect with Kenny on Instagram: @kennybsimpson

 
Visit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchase

Book a free call with Prime Corporate Services to create a business strategy primecorporateservices.com/richsomers

--
Connect with Rich on Instagram: @rich_somers

Interested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more.

Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call.

Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.