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...
Ask them to point to a time period where they made most of their money and they'll direct you to a time span between 6 months and 2 years.

When the opportunity arose and they seized it.
They built something that continues to create value. They built an asset that continues to create cash.

They seized an opportunity and did work over a short period of time and they harvest the fruit for years or generations.
A successful career in entrepreneurship is a series of sprints.

You see the gazelle in the field. You chase and tackle the gazelle. And you bring it back to camp and feed your family.

Then you lay on a rock for a few days.
The key to life is to give yourself chances.

Chances to chase that gazelle in the field.

Enough chances where even if you miss it, you gain the knowledge to know how to get it home next time.
The problem with the traditional career:

Owners keep you sprinting and sprinting and sprinting.

And when you don't catch anything...

They give you just enough of what someone else caught to keep you from starving so you can hunt again tomorrow.
And when you catch something that can feed the pride for years....

You hand it off to someone else.

And they give you just enough to keep you from starving so you can hunt again tomorrow.
And the rest goes to changing someone else's life.

So you spend a lot of time hunting and not very much time sitting on a rock.
The hard part:

Not relying on somebody else to bring you the food.

And knowing how to hunt well enough that you can feed your family before you starve to death.
And putting yourself in a position, over time, to chase down and kill that massive gazelle that can pay you and feed you for generations.

So you can start chasing down gazelles for the thrill of it or to make the world a better place.

Or spend your time sitting on rocks.

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More from @sweatystartup

28 Jan
Time for a BOOK LIST.

I've read over 250 self-help and business books..

Heres a list of the ones that have had the largest influence on my life and career.

A thread:
Never Split the Difference - @VossNegotiation

It outlines and reinforces the fact that business, negotiation and any human interaction is inherently very emotional. Mirroring, tactical empathy, starting with no and labeling are all phenomenal.
The E-Myth Revisited - @MichaelEGerber

The first stop for any beginner. This is a great book about the importance of creating a business that can thrive without you. Preaches a lot of my favorite business principles like working on the things that are important but not urgent.
Read 24 tweets
27 Jan
The wealthiest person I know prints millions out of thin air in the real estate business.

This is what he does...

A thread.
He finds a distressed retail plaza. Let's say 50% of the space isn't leased.

On a 300,000 sf plaza that might mean 150k square feet is vacant.

If asking rent is $8 per square foot per year, that means the building has a "potential revenue" figure of of $2.4MM.
So in this retail center 50% is leased and 50% is vacant. So the actual revenue, right now, is $1.2MM.
Read 16 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
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.
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

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