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 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.
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.
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.