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Nick Huber Profile picture
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21 Apr, 4 tweets, 2 min read
If you tuned in for the webinar that @fortworthchris and I hosted a few weeks back, you know how big of a deal he is when it comes to real estate.

Tomorrow we're hosting a live AMA using a pretty neat software that allows you to get in line and ask a live question.
Here's the link to register and tune in:

hotline.co/nickhuber
Here's what to expect as far as format goes:

And here's the webinar with Chris from a few weeks ago:

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More from @sweatystartup

Nick Huber Profile picture
23 Apr
A thread on how to turn $100 into a lot more:

People are spending a lot of money on their homes right now. Its time to go get some of that money and help out some of these people.

Sound silly? Good.

It really is this simple sometimes.

Lets go 👇
Get on your computer and buy a web domain.

Get a freelancer (upwork or fiverr) to make you a logo/flyer and get $45 worth of flyers printed at your local print shop.

Buy a box of sidewalk chalk if you really want to grind and get gritty.
Go downtown with the sidewalk chalk and write “pressure washing and home cleaning 888-555-1234” as many times as you can in high traffic areas.

Go to a middle class or high end neighborhood and hand out flyers on porches and wherever else.
Read 16 tweets
Nick Huber Profile picture
22 Apr
75% of people don’t work towards any long term goals.

Going through the motions to get paid next Friday, pick kids up from school, a few beers on the couch each night.

It’s a great way to watch 10 years pass without growing as a human at all.
Didn’t think I’d get so much heat for this one.

I’m a privileged jerk! Unfollow me now!
Side note:

Twitter is the most fun between 1-10k followers.

From there the opportunity goes up and the enjoyment goes way down
Read 8 tweets
Nick Huber Profile picture
22 Apr
3.3 million square feet of self storage was developed in greater NYC over the last 12 months.

Self storage under construction or in planning equal 17.7% of current supply on the market.

The amount of new development right now is insane.
The reason is simple:

The appetite for storage from institutional investors has never been stronger.

These developers are 2xing their money when they sell at certificate of occupancy.

We’re talking 4.5 caps on pro forma numbers.
Lease it up 50%?

4 cap on pro forma and a few more million.

Fully leased group of 4 properties in major metros?

3 cap and under.

Insane debt terms too on the commercial markets.
Read 6 tweets
Nick Huber Profile picture
20 Apr
The storage business isn’t always fun and definitely isn’t sexy.

We bought this 185 unit portfolio at public auction in October of 2019. 140 units were abandoned and not paying.

We were handed paper ledgers and leases (some 20 years old) at closing.
We paid $632k ($25.80 / sf) and bought it at a public auction.

It had $3,368 on the rent roll at closing.

We spent a week preparing for and organizing a public auction of the units. We got all the units cleared, cleaned, and ready to rent.

We sent auction notices to every customer (using the best information we could find online or in the records).
Read 8 tweets
Nick Huber Profile picture
15 Apr
Want to make a lot of money without a new idea?

Find a business with:

A: a fax machine

B: a lot of profit

Buy one of those businesses.

10,000 Americans retire every day and they own the businesses that make good money in your home town!
The thing about small businesses:

The 20-30 yr olds aren’t interested in them. They’d rather go start a social media app or the next software company.

We have a serious shortage of folks who want to operate good old fashioned businesses.
There is a major shortage.

And every business out there is overloaded with work.

So if you answer the phone, do some basic digital marketing, and work hard to hire and train employees, you can make a few hundred grand a year with absolutely no innovation.
Read 6 tweets
Nick Huber Profile picture
12 Apr
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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