BC BIZIDEAS
Saved by @chamakta_choora

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 ๐Ÿ‘‡

 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 โ€œpressure washing and home cleaning 888-555-1234โ€ 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.
Get creative. You might get ran off but its low risk. Target those with dirty payment.

Your cell phone will start ringing. Book all of the jobs for Saturday.

Rent a power washer Saturday morning with the other $50 and go make $300 in one day.
Do the same thing the next weekend and then buy a power washer. Then put $200 into a website and nurture a Google My Business location.

Get reviews, upload photos, make it look nice. 50% of your biz will come through here.
Make sure you pre-treat the concrete with a bleach mixture. It makes the job 2x as easy. Get some $1 gallons of bleach and cut it 1:5 with water in a 5 gallon backpack sprayer for $60 on Amazon.

Ask the customers nicely to use their water. Borrow Gma's Prius to haul the washer.
Make a youtube video introducing yourself and put your town and power washing in the title. Link to your website.

Make posts on Facebook Marketplace (this one is key).

Within a few weeks you'll be bringing in $1,000 every weekend.
When you hit $4k in a month its time to quit your job and get serious.

โ€œOn demandโ€ is going to be your competitive advantage so you can charge a higher price. Make sure you can offer next day service or same day service. As soon as you get too busy to do that its time to hire.
Make sure that person is presentable and clean cut. Get a business polo shirt made at your local embroider.

Target students at first because they work hard and are reliable. They have summers off which is your busiest time.
Provide amazing customer service. Answer the phone every time and be in a super eager positive mood.

This along with the โ€œon demandโ€ nature will put you ahead of 99% of your competitors.
Make friends with realtors in town or watch the MLS and visit homeowners the week before an open house. A home looks a lot newer with a clean driveway.

Use google maps to measure concrete area and provide instant quotes over the phone. Put out yard signs with your logo.
Eventually buy a cargo van and have your own generator and water tank inside so you can be mobile and do more jobs and charge more money.
Grow from there. Start power washing entire parking lots for shopping centers.

Get the contract to do it twice a year for $15,000 per service.

You can get one of those big ride on power washers eventually and start doing larger commercial jobs.
As your company grows launch a branch in a neighboring city with a management hire. Then another city.

Sell the company or just cash the checks and sit on the beach with your family. Youโ€™ll likely get bored and end up building another business.
Side note:

I hired one of these guys to wash the exterior doors and walls at my Pittsburgh facility a while ago.

1 out of the 10 that I called could bring their own water.

3 weeks later he showed up with a crew of 2 folks. Took them 1.5 hours. Billed me $1,000. I was happy.
Don't like power washing?

This model works for any business (including my storage business we founded in 2011).

Here is a list of others to consider:

https://t.co/j73lX3rA0v
The big idea here:

Start SMALL.

Donโ€™t try to change the world. Make that first $1000 and then level up. Then level up again.

Then you look back 10 yrs later and youโ€™re making serious money and ready to change the world.
If you like this kind of thing youโ€™d love my podcast - The Sweaty Startup.

Iโ€™m about to launch a private community on small business and entrepreneurship - get notified here:

https://t.co/FEt1sBoSWS

More from Nick Huber

Nick Huber
Nick Huber
@sweatystartup
Think slow, work fast.

A thread on entrepreneurship and what folks don't understand about opportunity.

It comes in waves.

Long periods of time are spent blocking and tackling and going through the motions.

Short periods of time can change your life.

Don't get me wrong, successful folks are consistent. They show up. They stay focused for years.

But...

Ask them to point to a time period where they made most of their money and they'll direct you to a time span between 6 months and 2 years.

When the opportunity arose and they seized it.

They built something that continues to create value. They built an asset that continues to create cash.

They seized an opportunity and did work over a short period of time and they harvest the fruit for years or generations.
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Nick Huber
Nick Huber
@sweatystartup
Donโ€™t have much cash but want to invest in real estate?

Want to get SBA loans and special loan programs so you can buy real estate investments with only 5-10% down?

One word for you:

Donโ€™t.

Hereโ€™s why

๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡

Leverage can be a beautiful thing.

Appreciation takes over and all that value you bought with debt grows and you amplify your returns.

But there is another, darker side of debt.


Values drop 5 or 10% and youโ€™re underwater. You have zero equity or negative equity.

Ask the folks who were over-levered in 2007 what happened on 2011?

Real estate is a frothy space right now. Money flying everywhere and values higher than theyโ€™ve ever been.

Debt is cheaper and easier to get than ever.

Will it continue?

Probably.

Money could stay cheap for a long time. There is a ton of negative yielding debt abroad and liquidity ready to flood our market at the drop of a hat.

Rates will likely stay low. Gov will probably keep subsidizing these loans. Youโ€™ll probably be okay.
TRADING
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Nick Huber
Nick Huber
@sweatystartup
A THREAD on how most real estate folks structure deals with outside investors.

Most people utilize the "preferred equity" structure when they raise money from outside investors. They "syndicate" deals.

Here's the basics:

The person (or team of people) putting the deal together is the "sponsor". Also called general parter. Referred to on twitter as the GP.

They find the property, do all the work, hire the management company and take fees. They often co-sign debt and always secure the financing.

The investor is generally passive, doing no work and putting in cash. This is the "limited partner". Referred to on twitter as the LP.

They don't co-sign debt. They simply read reports and ask the sponsors questions and cash checks every month (if the deal is going well).

There are two equity classes.

"Preferred equity" belongs to the LPs. Cash talks, so this is a higher class of shares. They are first in the "capital stack" behind the debt (bank loan).

"Common equity" belongs to the sponsor. They are generally last in the capital stack.

Sponsors generally co-invest. That means they hold both equity classes. A 10% co-invest is standard.

That means the GP has skin in the game. His 10% co-invest makes him both an LP and a GP.
BUSINESS , REAL ESTATE
Nick Huber
Nick Huber
@sweatystartup
We've used "seller financing" on two self storage deals in the past year.

And it raised our cash on cash return by 20%+.

And lowered the amount of capital we needed by $500k.

Here's a THREAD about a deal of mine and how this magical debt structure can work.

๐Ÿ‘‡๐Ÿ‘‡

My method is simple. In the late stages of negotiation I submit two offers:

One at a lower price.

And one at the exact price the seller wants but with him holding back 10-20% of the purchase price in the form of a 2nd mortgage (with a second position to your bank loan).

Contrary to popular belief seller financing rarely includes the seller holding back 70-80% and acting as your bank.

Two reasons:

#1 most have some debt on the property.

#2 most want most of their money now.

Have you heard the saying:

"you name the price and i'll name the terms?"

This is a case of that situation exactly.

Lets paint a picture here:

Last week I was negotiating with a seller on a property in a small western PA town.

Not many interested buyers so I knew I had some leverage.

His asking price was $4.5MM. I wanted to pay $4.2M.

After a week or two and a lot of back and forth I found his lowest number.
MARKETING
Nick Huber
Nick Huber
@sweatystartup
A hill I'll die on:

95% of entrepreneurs should forget about technology (a few big fish and a lot of sophisticated fishermen) and focus on small business (small fish everywhere and really crappy fishermen).

A THREAD:

Be like water.

Take the path of least resistance.

The goal of every entrepreneur should be:

#1. Gain financial freedom

and

#2. Maximize probability of achieving #1

Because when you have financial freedom your world opens up.

You can start doing what makes you happy.

And you can positively impact a lot more people with project #2, 3, 4 etc. You're in a position to try to change the world if you have financial freedom.

So why don't more folks think about opportunities with more weight added to #2?

The odds part. The risk. The probability.

The amount of small businesses in America that absolutely print money and still do business like itโ€™s 1985 is astounding.
ALL

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Thread ๐Ÿ‘‡

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