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.
Wealth isn’t about extracting value from others.

It’s about adding 10x as much value as you want to receive.
Winning doesn’t mean others lose.

The real winners help 1000 others win with them.
People do business with people they like.

Become a person others like.
You can’t please everyone.

Please the people who are who you want to become.
Business is about momentum.

What you do on day one will look nothing like what you’re doing on day 10,000.
You get ahead by saying yes to everything.

When you get momentum it’s much more about saying no.
A very small amount of your relative effort will generate an outsized amount of your success.

When you take time to zoom out and figure out what that is, you can do much more much faster.
Give up quickly.

Time is more valuable than money.
Being selfish is okay. Everyone is selfish.

Find a way to make sure everyone wins and everyone can be selfish for good reasons.

Selfish + abundance = wins

Selfish + scarcity = losses
1/2 the folks in this world are leaches.

Take take take. Give nothing.

Avoid these people. Do not bring them along on your journey. Do not hire them. They drag everyone down.
Sales is the key to success.

Being able to sell yourself and your ideas is how you win.
Being comfortable being uncomfortable is how you win.

Everything worth doing in this world requires you to get uncomfortable.
Entrepreneurship doesn’t have to be risky.

Opportunity =\= risky
Being a good businessman and having financial success is a small part of the big picture.

The key is finding a way to be a good friend, husband, father at the same time.
Consistency is way more important than efficiency.

Anything worth doing gets really tedious 2 years in. Year 2-5 is the critical period.
If you want more content just like this, signup for my newsletter at sweatystartup.substack.com

Thank you for reading!
TLDR:

Make yourself into the person who deserves what you want out of this life.

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More from @sweatystartup

26 Jan
Think slow, work fast.

A thread on entrepreneurship and what folks don't understand about opportunity.
It comes in waves.

Long periods of time are spent blocking and tackling and going through the motions.

Short periods of time can change your life.
Don't get me wrong, successful folks are consistent. They show up. They stay focused for years.

But...
Read 12 tweets
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
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.
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.
Read 9 tweets
24 Jan
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.
Read 5 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

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