Episode description
Episode description
Nick Huber is a real estate entrepreneur, self-storage owner & operator.
His commercial real estate portfolio is approaching $30mil in assets (as of 2021) & he's built a name for himself by championing "sweaty startups" aka unsexy businesses.
Nick has built a 100k following on Twitter by transparently sharing the lessons learned from his time in business & by simplifying concepts in the real estate game.
Let us know what you think of this convo on Twitter:
@bzaidi and @sweatystartup
Watch and subscribe on YouTube:
https://youtu.be/s9Wgw1GN9-k
After listening to part 1, you'll understand:
- the equation for getting wealthy in the real estate game
- the difference between creating vs growing wealth
- categories of real estate beyond what 99% of people invest in, from self-storage, to cemeteries & tiny homes - you'll learn about niche opportunities with less competition
- how real estate investors can make millions & legally pay little in taxes with depreciation, bonus depreciation & 1031 exchanges
- Nick's unique approach to finding upside from day one in commercial real estate
- why 100% occupancy rates aren't always a good thing & what Nick looks for in deals
In part 2, "behind the mind" (starting at 48min) Nick & Bilal discuss:
- tribes, relationships & what truly matters in life
- growing up, dealing with bullying & insecurities
- choosing who you compete with
- unique ways to connect with aging parents
- why having kids is underrated & the importance of a supportive spouse
Timestamps:
- 00:00:00 Intro
- 00:03:41 Who is Nick Huber?
- 00:11:00 What is a Cash-Out Refinance?
- 00:13:26 Growing Up in a Small, Rural Town
- 00:14:28 Having A Chip on Your Shoulder
- 00:18:28 Building vs Growing Wealth
- 00:20:31 Alpha vs Beta In Real Estate
- 00:21:02 Initial 700k Nest Egg
- 00:25:03 Initial Investment - Rule Of Thumb
- 00:27:25 Real Estate Investing On The Side
- 00:29:24 Nick's Real Estate Framework
- 00:33:55 100% Occupancy Isn't Always Good
- 00:36:45 Zero Income Tax With Depreciation & 1031 Exchanges
- 00:44:22 Conservation Easement
- 00:46:35 Real Estate Professional Status
- 00:47:52 Capital Gains
- 00:48:32 Part 2: Behind The Mind
- 00:51:02 Is Chasing Your Passions A Bad Idea?
- 00:55:35 "I Wanted To Call My Mother And Cry In Her Arms"
- 00:59:20 Giving Up Is Often The Best Choice There Is
- 01:01:38 Miami + Austin
- 01:02:48 "Nobody Cares About You Apart from A Handful Of People"
- 01:05:23 Google Maps Trick - Connecting With Parents
- 01:07:20 Dad's Twitter Post Went Viral
- 01:09:42 Having Kids is Underrated
- 01:12:29 The Tribe Makes The Place
- 01:15:04 Virtual Communities
- 01:19:48 Dealing With Bullying + Racism
- 01:23:43 The Importance of a Supportive Spouse
- 01:25:44 Advice For A Successful Relationship
- 01:28:13 Being An Opportunist
- 01:31:22 Wrap-Up