Hot take:

Everyone doing threads to share what they know will help everyone doing threads get a larger audience.

The fluff will die & the a+ content will get even more engagement.

The 5 yr tailwinds behind personal development on twitter are clear.

Rising tides 🏋🏼‍♀️ all ships.
More and more folks every day are turning their fantasy football and news twitter accounts into ways to network, learn, do deals, and get smarter.

For a creator threads are more powerful than books, blog posts, podcasts, YT videos.

Maybe for a reader too.
I feel like I can more effectively teach a real estate fundamental via a 25 tweet thread than I could in a 1 hour podcast episode.

A blog post would be a snooze.

And a YouTube vid would take me 5 hours to make. While a thread takes 20 minutes.
Writing threads on twitter will turn out to be an insanely valuable exercise for creators.

Cash, influence, distribution, you name it.

Ask naval how his thread changed his life?

You all can see how the one I did has changed mine.
So we will see the best of the best flock here to teach.

And the flywheel will continue on.

I’m just happy to be a part of it!

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More from @sweatystartup

25 Jan
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 21 tweets
24 Jan
What successful people understood before they were successful.

A short thread.
Mentorship isn’t about finding a great mentor.

It’s about becoming a person great mentors WANT to help.
Hiring isn’t about finding good people.

It’s about becoming a person good people want to work for.
Read 20 tweets
24 Jan
My partner and I started a business out of our dorm rooms in 2011 while Juniors in college.

But our tool of choice wasn’t groundbreaking code.

It was a 1999 ford cargo van we bought for $1500 on craigslist.

A thread about me. Image
It was a pickup and delivery storage business for college students. When they went home for the summer, we picked up all of their stuff and stored it nearby. Then we’d bring it back to them when they came back.
We didn’t make much money at all the first few years.

A lot of grinding. Late late nights in warehouses. 140 hour work weeks.

A logistical nightmare of a business. Image
Read 9 tweets
23 Jan
A hill I'll die on:

95% of entrepreneurs should forget about technology (a few big fish and a lot of sophisticated fishermen) and focus on small business (small fish everywhere and really crappy fishermen).

A THREAD:
Be like water.

Take the path of least resistance.

The goal of every entrepreneur should be:

#1. Gain financial freedom

and

#2. Maximize probability of achieving #1
Because when you have financial freedom your world opens up.

You can start doing what makes you happy.

And you can positively impact a lot more people with project #2, 3, 4 etc. You're in a position to try to change the world if you have financial freedom.
Read 16 tweets
23 Jan
A THREAD on how most real estate folks structure deals with outside investors.

Most people 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
22 Jan
A THREAD that will allow you to fit right in around real estate Twitter.

With terms, definitions and the basics of the lingo you need to know:
NOI = net operating income

This is the profit a real estate asset makes BEFORE you consider the debt service payments.

We use this term as the ALMIGHTY measure because each investor may get different debt terms and thus debt payments.
Cap rate = NOI / Value

Divide the net operating income by the value of an asset (or what somebody paid for it) and you get a %.

That % is a cap rate. 7 cap means 7%.

If you pay $1MM for an asset at a 7 cap that asset generates 70k of NOI
Read 20 tweets

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