Closed on a 3-property, 89,582 st portfolio yesterday.

That makes 13 properties and 439,557 sf acquired in the past 9 months.

6 of the 13 were on-market. 7 were off-market.

We've added 8 new employees to our team in that time frame, and we're at 12 total.
Operating fully remote (I've only met 6 of our employees in person).

The total acquisition cost of those 13 properties totals $21MM.

We have another 105,000 sf under contract to close in the next 30 days ($6.7MM) and we're sending offers daily. ImageImageImageImage
We're over $7MM in LP capital raised (90%+ from twitter).

Our deals we closed on months ago are outperforming our projections significantly.

Our stretch goal this time last year (pre-twitter) was $12MM over the next 24 months.

Life comes at you fast. Image
And today (in 3 hours) we oversubscribed an $800k raise without taking a meeting.

That deal will close in about 2 weeks!

@juniper_square is amazing.

Onward and upward!

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More from @sweatystartup

10 May
I've hired over 1,000 people in my career.

I've let go family members and folks who stood up at my wedding.

From part time laborers to executives who help me raise capital for large real estate deals to full time folks in the Philippines.

Here's 10 things I've learned 👇
#1: A unicorn won't walk in the door

If you're looking for someone who cares about your business like you do, you'll never find them because they don't exist.

To succeed you have to build systems so that average folks can thrive.
#2: If you're the bottleneck, you'll never grow (and you'll be miserable)

Most biz owners deal with all the problems. If there is uncertainty it starts and stops with him.

But the successful owners have given their employees the framework on which to make decisions.
Read 12 tweets
9 May
The key to success is about lifting people up, not pulling them down.
Grab a stiff drink, because here comes some truth you don't want to hear.

This life is hard af. Earning money and a career is even harder.

So 95% of people get to 40 years old and are pissed off.
They missed their goals and look at their life wishing they could have done more.

And they see others, a select few, who want more and have accomplished more.

And they try to pull them down to where they are.
Read 13 tweets
7 May
If you are overworked and underpaid at your job it is your fault.

Your boss will abuse you to the extent you allow it to happen.

1. Stand up for yourself

2. Demand a hire and delegate your low value work

3. Quit

You have three options. All are uncomfortable.

It’s on you.
It’s time to take ownership of your work-life balance.

You are most-likely overworked because you’re a poor delegator / communicator.

You have a lot more leverage and control than you think you do.

Especially if you’re a valuable asset at your company.
There are solutions aside from "work harder" and "my boss sucks" and "everyone I know works like this".

Delegation isn't instilled in the mind of employees.

You have to develop it yourself.

Your boss WANTS you to be more productive and add more value.
Read 9 tweets
7 May
I attribute a lot of my success to running every major career decision through this test from age 20 onward:

Which route increases the odds of me being able to do whatever I want with 100% my time when I’m 35 yrs old?
It turns out, when I really did the math, I didn’t need a unicorn startup.

I needed to stash about $1MM (after tax) by 27 and then invest it wisely from there.

Definitely wasn’t going to happen with grad school or law.

And most normal jobs didn’t cut it either.
So I started a small biz with really crappy competition and a sure-bet way to make $250k a year for a few years straight.

The rest is history.

And I achieved my goal 5 yrs early.
Read 11 tweets
6 May
If you’re considering marrying someone who wants to be (or already is) an attorney or a doctor, don’t.
People are pissed about this because it’s true.

I know 11 lawyers and medical doctors between 30-45 yrs old.

1 works less than 70 hrs a week.

3 of the 7 who got married are divorced.

I know this is a small sample size. But I’ve seen enough to form a strong opinion.
If you agree with everything someone else thinks, says, or believes - you aren’t going to get any smarter hanging around each other.
Read 11 tweets
6 May
We have a lot of expansion area on some self storage properties we recently acquired.

After the third 25% bump in steel prices in the past 3 months we’re having a meeting today to decide if we pause it all until further notice.
It no longer makes sense to develop self storage in markets with 10x10 rents under $100.

Multi-level that number is closer to $130.

On one hand that’s a good thing because we have bought our entire portfolio below replacement costs.

But it’s gotta be hard on developers.
To put it in perspective, only 3 of our 20 properties have 10x10 drive up rents over $100.

Most major metros (Nashville, Atlanta) have asking rents around $120-130.
Read 5 tweets

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