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Nick Huber Profile picture
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24 Oct, 5 tweets, 1 min read
Twitter is insane because it’s a look right into the mind of brilliant thinkers.

If you curate your feed with successful folks with differing views and opinions in different spaces...

AND have the courage to interact with them...

You can learn A LOT really fast.
It’s amazing the quality of people who hang out here.

Is it because they also see it for what it is?

The greatest self-help tool and win-win networking tool on the planet?
I’ve been thinking a lot about this platform, and being new here, how it’s changing the way I think about a lot of stuff.

It can be a double edged sword from this perspective:
When you get instant feedback on every thought from a bunch of people (twitter) you start to

A Learn a lot

Or

B fall deeper into your own confirmation bias.

The people follow you because they agree with you. Thus pushing you to become more radical with your views.
Talk about a blindspot...

I poopoo VC and things I disagree with. Folks who disagree with my worldview unfollow.

My followers get more and more biased.

Then I get more radical, and cocky with my views.

Long story short - challenge me! Keep me honest!

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More from @sweatystartup

Nick Huber Profile picture
24 Oct
It’s not about how much money you make. It’s about how much money you get to keep.

There are two types of CPAs:

1. Those who act like they work for the IRS.

2. Those work and fight for their clients.

I’ve fired number 1s and I pay good money for number 2s.

What I’ve learned:
You want a tax planner who gets aggressive, develops strategies for you to emplement, and is prepared to take on the IRS.

You pay them good money for this.

You pay them to WORK FOR YOU.

But let’s think about the motivating factors:
Taking this approach is more work for the CPA. Bad CPAs don’t like doing work.

I had arguments with my first CPA about depreciation. He said getting aggressive was a bad idea because recapture taxes are significant.

He didn’t want to do the extra work.

I fired that CPA.
Read 11 tweets
Nick Huber Profile picture
23 Oct
How I get insane value out of twitter:

Spend an hour of focused work 3x a week to schedule threads / tweets.

Avoid tweets that make you think for 2 seconds and continue scrolling.

I want you to think about it 2 hrs later.

This is work for me and it’s paying huge dividends.
I take notes all day in my tweet “draft” section.

Before I tweet them I roll them around a bit. Think about the different angles. The blind spots. Spend a little time with the thought.

I love to tweet about things I don’t fully understand. You can learn a TON very fast.
Humility is key and you better be willing to change your mind.

Everybody hates Dunning-Kruger assholes with closed minds.

Give and you shall receive. Challenge folks to get better and think thought the hard stuff and they’ll do the same for you.
Read 4 tweets
Nick Huber Profile picture
22 Oct
A thread on how to turn $100 into a lot more:

People are spending a lot of money on their homes right now. Its time to go get some of that money and help out some of these people.

Sound silly? Good.

It really is this simple sometimes.

Lets go 👇
Get on your computer and buy a web domain.

Get a freelancer (upwork or fiverr) to make you a logo/flyer and get $45 worth of flyers printed at your local print shop.

Buy a box of sidewalk chalk if you really want to grind and get gritty.
Go downtown with the sidewalk chalk and write “pressure washing and home cleaning 888-555-1234” as many times as you can in high traffic areas.

Go to a middle class or high end neighborhood and hand out flyers on porches and wherever else.
Read 15 tweets
Nick Huber Profile picture
22 Oct
The “buy low, sell high” mentality in real estate is NOT the way to generate serious wealth.

Yes, you can get rich. And yes its SEXY and that exit IRR looks great on pitch decks and resumes.

But it’s a TERRIBLE way to build long term, low risk, passive wealth.

A thread:
Sam Zell made bank. I know.

Chamath makes money investing in unicorns while the avg guy with “VC” in his twitter bio doesn’t.

Day traders make $ too. So do house flippers.

Until a lever gets pulled somewhere in the fragile system and something out of their control happens.
And taxes and transaction costs.

The gov takes 15% of your nut. The brokers take 5% of overall transaction which can be 10 or 15% or your nut. Closing costs, transfer taxes, the list goes on.

Every time you sell 30%+ of your nut is EVAPORATES.
Read 17 tweets
Nick Huber Profile picture
21 Oct
My most popular tweets on real estate, self storage and entrepreneurship.

A thread...
The key concepts around real estate private equity so you know what the folks in ReTwit are talking about:

My own philosophy on business, opportunity, competition, and why I think the media is leading a lot of folks in the wrong direction:

Read 12 tweets
Nick Huber Profile picture
21 Oct
A thread on how most real estate folks structure deals with outside investors.

Most GPs utilize the "preferred equity" structure when they raise money from outside investors. They "syndicate" deals.

Here's the basics:
The person (or team of people) putting the deal together is the "sponsor". Also called general parter. Referred to on twitter as the GP.

They find the property, do all the work, hire the management company and take fees. They often co-sign debt and always secure the financing.
The investor is generally passive, doing no work and putting in cash. This is the "limited partner". Referred to on twitter as the LP.

They don't co-sign debt. They simply read reports and ask the sponsors questions and cash checks every month (if the deal is going well).
Read 31 tweets

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