Nick Huber Profile picture
What you read here is my (always changing) philosophy on business, real estate and life. Self storage owner / operator by way of a small unsexy business.
KimSia Sim 🇸🇬💻📗 Profile picture Cameron Priest Profile picture Nitin Ramrakhyani Profile picture Jay Sanchez Profile picture Retro-Innovation Profile picture 37 added to My Authors
2 Mar
At business school you read Zero to One and study how Amazon and Microsoft navigated the 2000s.

News flash:

Starting a business from scratch and creating something that can put food on your table is nothing like any of that.
The problem with MBA entrepreneurs:

They focus on building an organization and structure and plans.

And they’re not willing to do the damn work in the early days that isn’t fun, isn’t high level, and isn’t scalable.
In the early days you don’t need grand visions and business plans.

You need salesmanship, grit, and resourcefulness.

And there is only one way to learn that stuff:

Put your ego aside and roll up your sleeves.
Read 24 tweets
2 Mar
I can't get any contractors to answer my call.

I can't buy anything hobby related without waiting 3 months.

I walked out of a restaurant downtown on Saturday night and had to walk IN THE STREET because it was so crowded.

But bring on the stimulus!
I know this is an insensitive thing to say - but the folks waiting for the government to save them right now aren't going to get it.

Get resourceful and pivot! Take control of your own future vs putting it in the hands of politicians!

There are opportunities everywhere.
Every single home service / construction company in the country is hiring as fast as possible and anyone who isn't drunk can get a job in a day.

Truckers are making $80k+ per year.

New industries are popping up everywhere.

Change = opportunity.
Read 4 tweets
1 Mar
Giving away a 3 free copies of this course today.

How to apply:

Retweet and like this tweet. Then comment below (just one comment) on why you would love a copy and what you would do with it!
The first winner has been selected! Congratulations and find your code to access in your DMs.

Read 9 tweets
1 Mar
It is launch day!

nickhuber.podia.com/realestate

My real estate masterclass is available for purchase until midnight tonight.

After that it will never be this affordable again.

Use code “TWITTER” for $500 off to the first 100 people only!!!
Chris is my mentor and is exactly where I hope to be 10 years from now!

This coming from him is huge!
Mitchell has taught me more about taxes in the past 24 months than I could ever imagine!

Thank you my friend!
Read 5 tweets
27 Feb
My dad and I have had a great relationship for years and he has told me he’s proud of me a few times.

I remember every single one.

Soft voice at the end of a phone call. In my ear during a hug on my wedding day.

But we had a moment today.
He pulled me aside this morning, hugged me, and started crying before he even said anything.

I thought he was going to tell me bad news. My mind was racing.
When he got it together he told me that his goal from day one was for his kids to have a better life than he had.

Dirt poor. Father died when he was 9. Abused from there on our by the later men.
Read 5 tweets
27 Feb
Who would win in a 200m sprint?
Austin TX June 9, 2021
I love being the underdog
Read 4 tweets
26 Feb
I lived in major northern cities for 6 yrs after college.

Have been in Athens GA for almost 3 years.

Have come to the conclusion that the folks in the south are 10x as happy.
A harmless observation, please don’t freak out:

75% of my friends lean democrat. 25% lean republican.

I don’t fully align with either.

But the republicans are 10x as happy / positive.
I grew up in the Midwest. Small town southern Indiana.

In the summer they are as happy as the southerners. In the winter they are still 5x as happy as the city folk.
Read 8 tweets
24 Feb
Ever made a lot of money on a deal, etc after you’ve already been pretty well off for a few years?

It’s wild how those closest to you (your wife, kids, family members) don’t really care.

She’s thinking about a date night. They want to go outside. When are you going to visit?
Gotta draw the line somewhere.

Just numbers on a screen at some point.

Focus on what matters!
But the problem:

Your ability to make money grows. Opportunities grow.

Opportunity cost for not working becomes huge.

So the line keeps moving. Further & further away.

And you wake up 60 years old having had a better relationship with the #s on a screen than those around you.
Read 7 tweets
22 Feb
I'm releasing my masterclass next Monday and enrollment will be open for 24 hrs.

nickhuber.podia.com/realestate

Discounting $500 to the first 100 folks with code "TWITTER"- and then the price goes up (forever).

Pumped to put this out into the world!

(you can pay and pre-enroll now)
Who this isn't for:

Those who want to start with no money and get rich in real estate.

Who its for:

Those who have capital or operational chops and want to make real estate a part of their future (through investing with others or doing your own deals).
I will be offering scholarships for students or those without the means to purchase the course.

DM me for more info!

And if this isn't for you - don't worry - I'll continue to post everything I know here on Twitter!
Read 4 tweets
22 Feb
I think the economic situation right now is incredibly difficult for first time real estate investors to navigate.

Ashamed to admit that in a clubhouse room last night I advised a person with $500k liquid that their best course of action might just be to wait.
IMO its a toss up between a roaring few years and a significant pullback.

That + the insanely competitive seller's market means a lot of risk for first-time investors...

Could be stuck holding a so-so asset for a long time w/ little cashflow or appreciation.
The bull case outweighs the bear case...

War time spending, a government that has shown it won't let a depression happen, inflation taking hold, rates likely to stay low.

+ cash printing to the extreme makes our cash less valuable every day.

Get in the game now right?
Read 7 tweets
15 Feb
Flight takes off in 90 minutes.

Ask me anything!
Flight took off. Flew 20 mins. Came back to Atlanta.

Now waiting to hopefully take off to Rochester but it’s a blizzard up there.

But I’m having a better day than this dog i spotted.
Flight cancelled. Voucher for Sleep Inn Atlanta airport. Google reviews are top notch 😂

7:45am flight tomorrow.

Waiting on the shuttle for 45 mins with these poor people.
Read 4 tweets
15 Feb
In real estate, revenue is the risk factor.

Two ways you can use it to your advantage.

A 10% increase in revenue has a much larger impact than you think.

If your expense ratio is 50% and expenses stay constant, your net operating income goes up by 20%.

And since your value is determined by NOI, your building can be worth 20% more money.
And if you have a loan for 75% of the overall value of your property, that 20% increase is all equity.

That gives you 80% more equity.
Read 8 tweets
14 Feb
How to buy a house in a hot market:

Fire your buyers agent (or don’t get one). You’re at a disadvantage with a multi-offer scenario.

Work directly with the seller agent.

Make offer with 2% credit to seller and 1% more commission for the seller agent.
Disclaimer before the buyers agents try to burn me at the stake:

Don’t do this if you don’t know how to represent your own best interests.

But if you know what you’re doing, this is the best way to win the house because it can be $10-30k that isn’t going to your agent.
My FIL has a property under contract in Athens GA under this exact scenario.

4 offers right at $370k. One was ours.

Other 3 had buyers agents.

Seller agent credited 2% ($7400) on top of our highest and best and he made an extra 1%.

We paid less, seller made more.

We won.
Read 6 tweets
11 Feb
Next time you pull up to a meeting in your $100k car, I hope you know the first thought of your potential partner is not:

"Wow this person does well, I need to work with them"

Instead, its:

"This is where the fees are going?"
Triggered a lot of folks with $100k cars with this one.

I’m just being honest about the thought that crossed my mind when a contractor showed up to give a bid at my home in his $120k F-350 Superduty Platinum.
I don’t have anything against folks who drive nice cars.

I personally think they’re a waste of money. A lot of people feel like me and think like the original post.

There is nuance, of course and this doesn’t apply to everyone.

If you can’t handle a post like this:
Read 4 tweets
10 Feb
A few entrepreneurial superpowers that aren’t talked about enough.

A thread.
Many high performers are assholes.

Being able to work with and manage difficult people puts you at a huge advantage.
Fear, pride, anger, excitement cloud your ability to make sound, logical decisions.

Making non-emotional decisions with impartial information is a superpower.
Read 9 tweets
8 Feb
A few reasons why I love self storage:

-Fragmented market with old-school competition

-Revenue spread among many tenants ($90/mo avg customer portfolio wide)

-Less than 5% increase in delinquency during pandemic

-No utilities, paint, carpet, appliances
What I don’t like about self storage:

Everybody else loves it too.
Self storage is not a land-banking play.

(Using it to sit on land for use doing something else later)

Even in major markets the rent outpaces class B multifamily with each less opex and capex.
Read 4 tweets
7 Feb
The life of an entrepreneur can be brutally difficult.

But nobody talks about it.

Time for a stiff drink and a few words on some of the most stressful periods in my life.

A thread.
The thing about being an entrepreneur is that there is nobody you can ask for help.

There is no boss you can call and dish off the really hard problems.
And there is no track-record or “way of doing things” that is proven.

So you have this constant nagging feeling that what I’m doing might not work and I might lose a lot of money.
Read 34 tweets
6 Feb
Every business has either a customer problem or an employee problem.

1. Not enough customers

2. Not enough employees (or inadequate systems) to execute

75% of service businesses fall into that second group, so if you can recruit and build systems, you can dominate.
And thats why I think businesses on this list are such great opportunities.

The owners aren't real "business" people. So you can stack up well and make great money:

sweatystartup.com/businesses-i-l…
Way too many owners expect employees who care about their business like they do to walk in the door.

News flash:

Those employees don't exist. They are unicorns. Nobody cares about your business like you do.

Instead:

Build a business that can thrive with avg employees
Read 5 tweets
4 Feb
Corporate america is a trap for anyone who wants to stop working prior to 60 yrs old.

They pay you just enough so the opportunity cost of doing something on your own isn’t worth it.

And more and more every year so the new $ is just enough to keep you.
They love it when you buy nicer houses, cars, things.

They hate it when you buy investment properties or assets.

Their goal is to keep you making money for them as long as possible.
By the time you’re 35 with two kids making $200k a year but spending $175k a year there is no way out.

They have you exactly where they want you.

And you’re 100% stuck.
Read 34 tweets
4 Feb
Banks love loaning a lot of money to people who buy real estate and every investor I know loves DEBT.

It amplifies everything. Kicking appreciation, depreciation and cashflow (or lack thereof) into overdrive.

A thread on how I think about it and how it works 👇👇👇
Let’s say you’re buying a $1MM asset at a 7 cap. Meaning it generates $70k in net operating income (before debt service)

You put $300k down and borrow the rest ($700k) from a local bank.
At a 4% interest rate on a 20 yr amortization schedule you’re paying about $25k in interest and $25k in principle a year.

That’s 20k in cashflow on your $300k cash investment. A 6.6% CoC return.

You need better debt terms to buy 7 cap deals nowadays. But let’s continue.
Read 27 tweets
4 Feb
Buying is selling.

Nowhere is that more true than real estate.

You're selling the broker on your competence.

The banker on your strategy.

The investors on your vision.

Employees on your future.

If you don't like uncomfortable situations, find a different career.
Let me take this one step further.

If you don't like uncomfortable situations, your prospects of ever making real money in your life are slim to none.
Rephrase this:

If you aren't "willing" to put yourself in uncomfortable situations.

Nobody "loves" it early on.

But you damn sure better be willing to do it if you want to accomplish anything.
Read 5 tweets