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Nick Huber Profile picture
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7 Jan, 4 tweets, 1 min read
Devoted about 3 seconds of brainpower to current events today.

I can’t control it so therefore I have elected not to let it stress me out.

I’ll read about it tomorrow and decide if I should adjust my current plan of action. The likely answer, as it almost always is, will be no.
17 minutes and I've lost 50+ followers. Very surprised by the reaction below as well.

I'll do some thinking on this stance and potentially re-consider here.
To be clear I'm not worried about how many followers I have. But when this many people feel differently than I do its a learning opportunity IMO.
I'm not too proud to admit right now that this was a privileged, and incorrect take.

I had a busy day and failed to realize the gravity of the situation. A lot of people are suffering in a major way.

Thanks for making me better today, as you do every day.

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More from @sweatystartup

Nick Huber Profile picture
8 Jan
If you're new to real estate twitter this is a must-read.

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 30 tweets
Nick Huber Profile picture
7 Jan
I’ve tried 10x or more to give equity and profit sharing plans to employees.

It’s almost always better to just pay them well and focus on giving them the tools to succeed.

If they wanted a variable pay structure they’d go start their own biz.
Ever tried to fire somebody who isn’t working out when they have equity?

Profit sharing and alignment of goals reads great in the textbooks but it’s absolutely terrible in action for MOST biz owners.

Need more big decision makers with executive talent? Sure. Do it.
99 times out of 100 you don’t need another chief.

You need someone competent at following a system you build.
Read 5 tweets
Nick Huber Profile picture
5 Jan
Twitter is officially a big deal for me. I accomplished my wildest stretch goals on here.

But I don’t like the way it makes me feel.

The phone addiction. Dopamine hit after hit.

Craving approval and status even more than before.

Not present with my family.

I don’t like it.
And the thing is I had a record year. If you would have told me I’d be here 10 years ago I wouldn’t believe you.

The money to do what I want to do when I want to do it.

No boss.

Working on big exciting deals.

A lot of folks who care what I have to say.

And here I am.
Feeling sorry for myself and feeling like I’m not a good dad or a good husband.

I need to get my priorities straight folks!
Read 5 tweets
Nick Huber Profile picture
5 Jan
Don’t have much cash but want to invest in real estate?

Want to get SBA loans and special loan programs so you can buy real estate investments with only 5-10% down?

One word for you:

Don’t.

Here’s why

👇👇👇
Leverage can be a beautiful thing.

Appreciation takes over and all that value you bought with debt grows and you amplify your returns.

But there is another, darker side of debt.
Values drop 5 or 10% and you’re underwater. You have zero equity or negative equity.

Ask the folks who were over-levered in 2007 what happened on 2011?
Read 11 tweets
Nick Huber Profile picture
3 Jan
I’ve gotten a lot of bad advice in my career and I see even more of it here on Twitter.

Time for a stiff drink and some truth you probably dont want to hear.

👇👇
College isn’t worthless for everyone.

All of the successful folks who tell you college is worthless went to college.

What does that tell you?

It’s not about the learning, though.

It’s about growing and learning how to sell yourself and your ideas.
Miami isn’t the next tech hub.

It’s surrounded by a swamp.

Construction costs are insane because of hurricane codes. Vacant land doesn’t exist.

Property insurance has risen on average 20% per year for 5 years.

Plus it’s hot AF. Ever been there in July?
Read 120 tweets
Nick Huber Profile picture
2 Jan
Customer friction is a huge part of running a biz.

How hard is it to engage a company to work with you?

Data-driven companies obsess over reducing this friction.

Mom-and-pop operators SUCK at this and it’s costing them millions.

Here’s what I’ve learned 👇👇👇
1985 companies have a lot of friction.

Call them. Leave message. Wait. Guy may or may not call you back. Quote by phone or email. Scan signed contract.

A self storage facility we purchased recently had a lot of this.

Drive across town M-F 9-5. Spend 20 mins. Sign paper lease.
Get a physical key and lock. Drive back. Get your unit. Mail a check each month or stop by office with cash.

Owner charged $52 a month for a 10x10. Completely full.

We instantly setup software for online rental.

No phone call necessary. Rent a unit in 4 mins from your browser.
Read 12 tweets

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