So I got serious about Twitter on April 12th 2020. Since then:

I’ve raised over $1MM and met with over 100 future investors in my real estate deals.

Made over $20k consulting folks on self storage.

Met several folks int in buying my biz.

& so much more.

What worked for me..
First of all I tried the mainstream advice and built my own blog, podcast, email list, YouTube. Spent 2 years. 500k downloads. Some success.

Got more value out of Twitter in 30 days.

If raising money or in business THIS is the platform.

Okay let’s go:
1. Stay on topic.

The most valuable folks here are here to learn. They curate their feed. They want business and interesting discussions.

No fantasy football. No gifs. No pop culture. No one liner jokes.

Be an expert at what you do. Mix in family 1x a week or less.
2. No politics.

At all. Ever. It’s a great way to piss off (and say goodbye) to 1/2 the folks here.

Not everybody feels the way you do and the smartest folks don’t want your opinion. Nothing good comes of it. So avoid it.
3. Be incredibly open

Nobody will steal your ideas. Yes it’s uncomortable and yes you’ll get challenged.

I shared my profit and loss statements on here. It led to discussions with many brilliant folks in the DMs and several folks who wanted to partner reaching out.
4. Put your neck out.

Don’t be afraid to look like an idiot. Challenge smart people by retweeting and commenting. Good things come if you do it in a respectful way.

Admit a change of opinion if you’re wrong. Reap the rewards if you’re right. Be kind.
5. Quality over quantity.

Don’t tweet every 30 minutes. Tweet once or twice a day. Save drafts when you get good ideas.

Don’t tweet the thoughtless comments that add no value. Delete them.

Creativity comes in spurts. Tweets should be consistent.
6. Don’t link away from Twitter.

The algorithm punishes you and your reach will shrink.

Twitter wants its users here, on twitter. Link out sparingly and do it later in the thread of multiple tweets.

Nobody wants the auto posted blog links.
7. Say more with less.

Take out every single character that doesn’t support the message you’re trying to get across.

But don’t sound like a furtune cookie. Leave that to the guys like naval who can pull it off.
8. Don’t directly solicit investors.

It’s illegal and you should only subtly talk about partners and LPs.

Let a conversation start with interested folks messaging you and take it off line to get to know them before giving the pitch.
9. Open your DMs and deal with the volume.

Don’t discourage people reaching out because you’re too cool to give a noob some guidance.

Ignore the dumb questions. Help some people. Let the value come to you.
10. Story matters more than terms.

I have an expensive deal structure. It’s juiced for me.

But folks care a lot less about the structure and a lot more about the sponsor (you) and the 10 year vision and tailwinds behind the investment.

Tell a story.
11. The best tweets stir controversy and go against the grain but have points that everyone agrees with.

Folks on twitter don’t want to get fed the same stuff every other media channel is feeding them. Be different.

Make smart people think differently about something.
12. For every tweet think about this question before you hit send:

Would I want a future partner or investor who is wealthy and important reading this message?

Will this lead to productive conversation?
13. Don’t retweet without comment

It adds no value. And don’t make that comment a one word approval.

There had to be something the author left out of the tweet or something you can add.

Spend 60 seconds and add some thoughts.
14. Have thick skin and don’t get emotional.

Some humans are mean. Very mean.

Don’t let it get to you. If it does, find another place to do business.

This is sales. You will have rejection and not everyone will like you.
15. No negativity, ever

Folks are tired of complaining and bad news stories.

If you need help with content follow @JamesClear and apply his concepts to your business.

He is a master of all of this stuff. I’m not.
16. Add value first

Don’t run around twitter with your hand out asking for help. It’s not about you.

Help other, smarter, more resourceful people. If you slide in someone’s DMs, bring some value.

No, you can’t have a meeting to “pick my brain”.
17. Stay humble.

Nobody cares how much money you have, what you drive or where you live. It makes you look foolish.

You want to be the rich guy who nobody knows is rich and drives the Toyota Camry.

Don’t set your profile up like this:
18. Treat this like a job.

Because it’s valuable. Do it right and incredible things will happen.

Set a goal. Make a plan. Execute even when it isn’t fun anymore.

Set your profile up like this:
19. Scarcity is bullsh*t

Everyone can win. There is plenty of money to go around.

Help other people and you’ll get help in return. I only succeeded at this because folks like @moseskagan showed me the ropes. Study first, ask second.
20. Read the book Storyworthy by Matthew Dicks.

This was recommended by @theSamParr and @TheHustle. All about telling a story that captivates audiences.
21. Don’t use emojis. It makes you look like a greasy course salesman☝️🤛

Pictures are great, but the simplicity of the written word is what makes twitter powerful.

Learn to copywrite well by deleting tweets and workshopping them. I do it all the time.
23. Feel free to break any of these rules.

Just like business, there are 1000 ways to win. You do you and I’ll do me!

I’m just a guy who acts like he knows what he’s doing. Even a blind squirrel finds a nut every now and then.
A few other powerful things that happened because of twitter:

Met a guy who allowed me to temporarily employ 15 of his employees for 2 weeks.

I see 5+ self storage deals a week in the DMs. People know I’m into storage. So they ask me advice and bring them to me.
I’ve met 3 mentors that I’m sure will be close to me for the rest of my life. I’m talking incredible conversations about life and what direction to go.

I’m very close to doing a self storage buildout in someone from Twitter’s warehouse in upstate NY.
This place is powerful if you want it to be!

I hope this helps!
I forgot a very important one.

A personal Twitter is MUCH more powerful than an anon or business or branded feed.

Folks have more trust and are way more likely to want to talk to you if they feel a real human being behind the thoughts and expertise.

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More from @sweatystartup

16 Sep
On Sep 3rd we closed on a 120k sf glove factory built in 1890 in Gloversville NY.

Has 50k sf of self storage inside and is cashflowing $8k a month.

We used none of our own cash and received $50k on closing day.

A thread on creating $2 million out of thin air in 18 months...
First saw the property on Loopnet in mid 2018. I ignored it. Who wants to try to operate a building in an old factory in a dying NY town.

A few months later I reached out. Broker sent me financials. They were good. $25k a month in revenue and $10k in expenses.
So I visited the property and took this footage. It was old. Needed a new roof. Probably environmental issues. Full time manager. Only accessible to customers 9am-5pm M-S. No autopay. A lot of folks paying 1/2 market rent.

I loved everything about it.

Read 16 tweets
15 Sep
Even better. Buy an 8.5 cap deal, keep debt as your own equity as if investors are buying an unlevered asset, send investors 8.5% every year, and you own 70%.
Investors are thrilled to get 8.5% risk adjusted return in cash virtually tax free for a few years with bonus depreciation.

You take the risk, get the deal, sign the note, do the work and get most of the upside, as you should.
Then turn that 8 cap into a 12 by operating it really well. Value goes up 50%.

ReFi, offer your partners a buyout at new value, if they stay in you get all ReFi money (your 70% grew).

If they want out you get equity and they lock in their 20% IRR and reinvest in next deal.
Read 11 tweets
15 Sep
In December 2017, after 5 yrs, my wife and I got tired of our 600 sf apt in Boston MA for $2,500 a month.

So we made a list of what 20% of our activities that brought us 80% of our joy and set out to find a city that had all of those things.

Here's what we did...
I made my list:

Craft beer / cycling / music scene
College vibe / sports
Fishing / hiking
Affordable country club (golf)
Lakes / Mountains nearby
Entre community

She made hers:

Restaurant scene
Beach within 5 hrs
Coffee culture
Family friendly
Live music
Our criteria:

Less than 1:20 from major airport + city
55+ in January
100k+ ppl
New build 4 bedroom for under $300k, less than 12 minutes from downtown
East of Mississippi River

I was investing every single dollar I had to my name into self storage so we needed to live cheap..
Read 12 tweets
12 Sep
If I can get the purchase price of a large self storage facility around 100x monthly revenue it’s worth looking at closely.

Under 75x monthly revenue is generally a very good deal with 25%+ CoC.

Small facilities, under 30,000 sf, that multiple drops slightly.
Value add deals, with low occupancy and higher risk, you want to be more like 40x monthly potential and 150x current revenue.

These are the figures on our Erie deal. It’ll be a situation where we can refi out 2x capital at 18-24 months.

Small facilities, under 12,000 sf require lower multiples to be profitable and worth it for me at this point. The cash on cash hits around 10% when you purchase at 80x cash on cash.

The margin on these smaller facilities is around 40%.

The margin on large facilities is 70%
Read 4 tweets
15 Aug
A thread on how real estate investors, developers and operators can make millions a year and pay almost nothing in TAXES by using depreciation, bonus depreciation, and 1031 exchanges.

How it works:
Depreciation is the act of slowly, over time, deducting the initial expense of an asset against your taxable income. Generally over a 27.5 (residential) or 39 (commercial) yr time frame. So each year you can write off 2-3.6% of the purchase price against your income.
Thats a big deal. We're buying a new property, a $3MM self storage facility. Thats a $60k a year write off against about $260k in NOI and 200k in cashflow on a $3MM deal.

It makes 30% of our cashflow tax free.

Very powerful but there is much more to it...
Read 24 tweets
13 Aug
The storage business isn’t always fun and definitely isn’t sexy.

We bought this 155 unit portfolio at public auction in October of 2019. 150 units were abandoned and not paying.

We were handed paper ledgers and leases (some 20 years old) at closing.
We spent a week preparing for and organizing a public auction of the units. We got all the units cleared, cleaned, and ready to rent.

Finally, 10 months later, were well into the green and the rest is icing on the cake.
187 units total and 110 abandoned**

Purchased at $26 a sf. A 10x10 rents for $85.

Rural market. Will be worth $60 a SF when we get it 80% leased.

We’ll refi, pull out all of our initial capital and more, and hold forever.
Read 11 tweets

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