BC BUSINESS
Saved by @Mollyycolllinss

Want to know how to get brokers to bring you deals first?

Want to build a machine that can buy real estate while you play golf?

Have a very professional and organized METHOD for closing on a property.

It's a system. And here's how we do it.

A thread 👇👇👇

 The thing is most sellers (that I deal with) have never sold a property before.

They don't know what to expect. They don't know how it works.

So they naturally have unreasonable expectations and there is a lot that can get lost in the shuffle.

And it creates stress.
And most brokers are working several deals at a time. And they aren't at liberty to tell a buyer how to do business.

So their hands are tied.

And for that reason a lot of closings are shit show. They are delayed. They end up with lawyers huddled up on Thursday night at 10pm.
And for that reason its YOUR JOB as the buyer to take charge.

Set the expectations.

Set the timeline.

And be a professional.
Step one:

Get a signed letter of intent that lays out the terms for your attorney to draft a contract with.

Step two (5 minutes after signed LOI)

Send out an email linking all of the parties and outline their role and a timeline.
Include the attorneys and say that they will work on the purchase contract right away.

Include the brokers and mention them as contacts for questions or if anyone needs more info.

Include the seller so they know what is expected of them and when.
Include your due diligence checklist right away so they can begin preparing the documents you need.

Introduce the folks on your team:

This person will be overseeing the inspections. This person will be overseeing the third parties. This person will be analyzing the rent roll.
And most importantly:

A timeline.

We need this information by this time. Our appraisal should be back by this time. We hope to be cleared to closed by this time. We need tenant information and facility specifics by this time.

We hope to close on this day.
The purpose is to manage the expectations of everyone involved and GET THEM STARTED.

So that way you don't have bottlenecks. Everyone is on the same page.

AND THE PROCESS GOES SMOOTHLY.
And then from your end you need to build a process and a system (with timelines) to finance, underwrite, inspect and raise LP capital.

And it needs to be tight!

With expectations, roles, templates and all.
And don't forget:

The process doesn't stop at closing. Thats when the going gets started for you!

You need to build a system to roll the property into your portfolio.

To get the tenants on your system.

To get the contracts in place.

And to get the capex completed.
What this does:

It makes you very easy to work with. It makes you professional. It makes you serious.

And brokers relay that information to all sellers next time you put an offer in.

Or even show you the deals before they hit the market.
An added bonus:

It allows you to build internal processes, delegate tasks and build a team that can close on properties in their sleep and without stress.

So you can play golf while your deals get done.

More from Nick Huber

Nick Huber
Nick Huber
@sweatystartup
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.

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.
BIZIDEAS
Nick Huber
Nick Huber
@sweatystartup
There is a lot of bad advice floating around online when it comes to real estate investing.

Time for a stiff drink and some stuff you might not want to hear.

A thread 👇

Most real estate influencers spend 99% of their time trying to sound smart.

They purposely make things too complicated.

When you do this for a while you can tell if a property is worth buying with a napkin and 30 seconds.

The problem with being a big real estate PE firm:

You need to do good deals year after year and deploy 10s or 100s of millions in capital.

It’s a hamster wheel making others wealthy.

The advantage of being you:

One building like this can change your life.


Buying real estate that doesn’t cashflow well because values have risen 10% / yr for 10 yrs while wages have risen 3% / yr for 10 yrs is very risky.

I don’t care how long your interest rate is “fixed” for.

Markets are cyclical. Trends change. Bankruptcy is real.

If you don’t know anyone with money and you have less than $250k of your own cash real estate isn’t the best way to make money.

Even a $500k property (like the one pictured above) requires $150k down and another $100k in cash reserves.
BUSINESS
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Nick Huber
Nick Huber
@sweatystartup
As a real estate entrepreneur you need a certain mindset to win.

From sourcing deals to dealing with bankers to deploying capital...

There are certain attributes that make you BETTER at creating long term wealth.

A thread 👇👇👇

RE is all about generating what we call YIELD.

Yield is the return on our precious capital.

And it comes in two forms:

Cashflow - the cold hard cash it puts in your pocket.

&

Appreciation - the additional VALUE to a buyer or a banker above and beyond what you paid.

And before we start. A note on YIELD.

It's getting harder and harder to find.

Capital is plentiful and yield is scarce.

Folks are chasing deals with less and less of it and they are taking more risk to get the same amount of it.

The amount of yield you get from a real estate deal is all relative to the amount of risk you take.

A risky deal deserves more upside and thus more yield.

A safe deal deserves less upside and thus less yield.

The winners think about one thing only:

Risk-adjusted yield

Successful real estate folks have a long term mindset.

The folks who win in real estate don't buy-in to the "life is short" mantra.

They know that life is long. And they are fine to do work now and get paid later.

TIME is what makes these folks wealthy.

They get paid to WAIT.
ENTERPRENEUR , ALL
Nick Huber
Nick Huber
@sweatystartup
The wealthiest person I know prints millions out of thin air in the real estate business.

This is what he does...

A thread.

He finds a distressed retail plaza. Let's say 50% of the space isn't leased.

On a 300,000 sf plaza that might mean 150k square feet is vacant.

If asking rent is $8 per square foot per year, that means the building has a "potential revenue" figure of of $2.4MM.

So in this retail center 50% is leased and 50% is vacant. So the actual revenue, right now, is $1.2MM.

Most retail leases are whats called "Triple Net" or "NNN". This means the tenant pays the taxes, insurance, maintenance and CAM (common area maintenance).

They basically pay all of the landlord's expenses (except debt service on any loans he/she has, of course).

Commercial properties are valued based on something called a "cap rate".

The equation is:

net operating income / (cap rate) = value

The cap rate is a %.

Think about it as the return on your money, annually, as a percentage, you spent to buy a property.
BUSINESS
Nick Huber
Nick Huber
@sweatystartup
How to get smarter very fast:

Interact with smart people here on Twitter who have different world-views than you do.

And let them change your mind on something.

Here are the 30 people you should follow (along with my favorite tweet from each)👇👇

Twitter can be terrible if you follow negative people.

It can also be more valuable than a college degree if you follow (and network with) the right people.

You get to look right into their brain and read a daily narrative of HOW they think.

Ok lets go:

#1: @ShaanVP

You know he's all about venture capital based entrepreneurship. I'm about small (non-sexy) business. We disagree on a lot of stuff.

But he's done it and he's won. Bonus follow: @theSamParr (@myfirstmilpod podcast


#2: @fortworthchris

He is where I want to be in 15 years. Has built a massive real estate private equity firm from the ground up. Super grounded with what the way he does business and his podcast @theFORTpodcast is top


#3: @Julian

I'm a scattered thinker and procrastinator.

Julian is a master of clear thinking and simple but effective writing. A world class example of content marketing and
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James Clear
James Clear
@JamesClear
My top 10 tweets of the year

A thread 👇

https://t.co/xj4js6shhy


https://t.co/b81zoW6u1d


https://t.co/1147it02zs


https://t.co/A7XCU5fC2m
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Chris Herd
Chris Herd
@chris_herd
I spoke to 5 global enterprises about remote work last week

Here’s what they told me about their plans for the future

[ a thread ] 💻🏠🌎

💰 Office space: All of them have $Billion real estate portfolios

All of them plan to cut it by atleast 50% and as much as 70%

📍 Talent Access: The thing they are most interested in is access to talent

Rather than hiring the best person in a 30-mile radius of the office, they’ll hire the best person on the planet

📈 Efficiency: Their concern about remote work post-pandemic was that productivity would slip

It’s increased. They now know remote work works

🤔 Remote Dilemma: A big concern is losing their best people through not giving their teams what they want

Each company plans to let people work from home 60-100% of the time
BUSINESS
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Judd Legum
Judd Legum
@JuddLegum
1. If you turn on CNBC, you'll hear a narrative that reckless retail investors from Reddit are destabilizing the stock market by driving up prices for GameStop and other stocks.

This is BS.

Follow along if interested.

2. Market instability was created by hedge funds and other "sophisticated" investors that SHORTED MORE GAMESTOP STOCK THAN WAS EVEN AVAILABLE FOR SALE

Retail investors are exploiting instability created by the hedge funds

They didn't start the

3. The primary "victim" of the retail investors, hedge fund mogul Gabe Plotkin, worked SAC until 2013.

What happened in 2013? SAC pleaded guilty to insider trading and paid a $1.3 billion fine.

Plotkin then left to start his own firm.

4. Plotkin made massive returns by doing a lot more shorting than most hedge funds & no one complained

But this week he was bailed out by his old boss, SAC founder Steve Cohen, and another hedge fund mogul, Citadel's Ken Griffin to the tune of

5. Cohen & Griffin now own a significant piece of Plotkin's firm. So they have an interest in Plotkin navigating out of his current predicament. They also may have exposure themselves.

This is where things get
BUSINESS
Peter Apps
Peter Apps
@PeteApps
Lunchtime update from the Grenfell Tower Inquiry:

President of Arconic's French arm accepts customers were 'deliberately and dishonestly misled' over fire classification of cladding panels, as he is asked about email saying failed fire test must be kept 'VERY CONFIDENTIAL'


The most interesting point of this morning's evidence came right at the end of the session when Claude Schmidt was grilled about an email his colleague Claude Wehrle sent regarding the serious failure of polyethylene-cored ACM panels when bent into a cassette form in March 2010

Remember: Arconic in 2004/5 tested its ACM PE panel when bent into cassette and when bolted to a wall with rivets. The cassette version failed spectacularly, burning 10 times as fast. But Arconic dismissed this as a 'rogue result' and drew no distinction in its marketing...

... simply presenting the panel as a 'Class B' (the rating for the rivetted panel, and the required standard for many European countries). Skip forward to 2010, and this email chain.

Mr Wehrle, the firm's senior technical member of staff is told about a trend in Spain and Portugal where clients are demanding more fire resistant panels, and warned that with this type of panel "our prices are no longer in the market"
BUSINESS
Abhishek
Abhishek
@Crazynaval
@passivefool


https://t.co/xyXIh7QkaN
BUSINESS

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Hello Dear Tweeples!

It’s Siddhars time of the week! Last week I shared story of Guru (Machamuni or Yogi Matsyendranath), this week I bring you information on his Shishya.

#Thread on Gorakanathar Siddhar.

@LostTemple7


His origin story is interesting, though I couldn’t verify it’s authenticity, so not sharing the story here. He’s shishya of Machamuni Siddhar and also learnt from Agasthiya Siddhar.

@HelloNNewman @RajiIndustani @Kishoreciyer1

Unlike other Siddhars, he is depicted as either with a Tiger or seated & wearing Tiger skin. While I couldn’t find any explanation for this. My interpretation is as follows:

Tiger is a predator that lurks around and attacks unexpectedly.


Our 5 indriyas and 5 vikitis also similar to Tiger, they lurk around and attacks our thoughts when we’re least expecting. Gorakkar is said to have mastered these aspects, thus to denote this, he shown with Tiger.

@Itishree001 @VarierSangitha @jananisampath

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