BC CULTURE
Saved by @Mollyycolllinss

Time for a BOOK LIST.

I've read over 250 self-help and business books..

Heres a list of the ones that have had the largest influence on my life and career.

A thread:

 Never Split the Difference - @VossNegotiation

It outlines and reinforces the fact that business, negotiation and any human interaction is inherently very emotional. Mirroring, tactical empathy, starting with no and labeling are all phenomenal.
The E-Myth Revisited - @MichaelEGerber

The first stop for any beginner. This is a great book about the importance of creating a business that can thrive without you. Preaches a lot of my favorite business principles like working on the things that are important but not urgent.
Entreleadership - @DaveRamsey

This book just has non stop quality advice about how to build a business the right way. Dave doesn’t preach about politics or religion. He just tells it like it is and tells the stories of what worked for him. Phenomenal read.
Ego is the Enemy - @RyanHoliday

Ryan preaches stoicism and how to handle emotions, rejection and stress. Managing that split second between an event and your reaction is what life is all about. It shows the importance of remaining humble and the dangers of overconfidence.
Principles - @RayDalio

My main takeaway is the discussion on strategic decision making. “Radical Open-mindedness”. It’s human nature to want to be right and appear right in the eyes of others. People who make the best decisions know they don’t have all the answers.
Built to Sell - @JohnWarrillow

This book talks about how to get your life back once your business takes over. How to specialize in your niche and do it really well. Make it scalable and take yourself out of the equation so that it is valuable to a potential buyer. Story format.
The Goal - Eli Goldratt

Also in story format this is all about removing bottlenecks from your business. Find out what is holding you back and really focus on fixing that issue so you can break through and expand. The owner of the small business is almost always the bottleneck.
Company of One - @pjrvs

Large scalable companies aren’t likely and aren’t the goal of many entrepreneurs. Starting small and specializing is the key to building a great lifestyle business and then an asset that produces money while you live the life you want to be living.
Flip The Script - @orenklaff

This approach to sales is to frame the situation so that customers SELL YOU and the deals close themselves. He came on the podcast and outlined this framework.
The Greatest Salesman in the World – Og Mandino

Life is all about being comfortable in uncomfortable situations. Everyone is a salesman and sales is uncomfortable. This book is a pump up about determination and perseverance and its importance. Its not always going to be fun.
2020 Small Business Taxes – JK Lasser

I read this book when I was 21 and it has saved me hundreds of thousands of dollars. It reads like a textbook but its insanely valuable.
Barking up the Wrong Tree – @bakadesuyo

What traits, skills or routines are most likely to lead to success? A study backed book full of stories and great insights into what it really takes to win at life and business.
Wealth Takes Time - @sweatystartup

Release date March 2022. All about small biz and real estate mindset and strategy.

Get notified here: https://t.co/FEt1sBoSWS
The Dip - @ThisIsSethsBlog

This is a short book (75 pages) and it only took me a few hours to read. Its meant to get you thinking and the real works when you apply the concepts to your life and your business. My summary here.
Storyworthy - @MatthewDicks

How to be interesting, tell stories and tug and folks' heartstrings. A great book on sales, copywriting, and building deeper relationships. Highly recommend.
Risk Game - Francis J. Greensburger

A story of NYC in the 70s and 80s and how a real estate empire was built and the city was rejuvenated. I can't help but think about all the similarities we could be seeing in our cities soon. An amazing read for anyone interested in RE.
The Fish That Ate the Whale - Rich Cohen

A story of how a man came from nothing and built up a huge empire of banana farms. Corruption, business, it has it all! I'll never look at a banana the same way.
Call Me Ted - Ted Turner

The autobiography of Ted Turner. Unbelievable story of how he took back his fathers small business when he passed away and turned it into an EMPIRE.

All while spending 3+ mo a year on a sailboat as a pro racer.
How to Get Rich - Felix Dennis

Life and business advice wrapped into an amazing book. Corny name, great content.
Atomic Habits - @JamesClear

As good as it gets when it comes to doing the right work and not just setting the right goals. Life is about systems and processes, not goals and dreams.
A few more that make every list:

How to Win Friends & Influence People
7 Habits of Highly Effective People
Rich Dad / Poor Dad
Shoe Dog
4 Hour Workweek
The Pearl - Steinbeck
Titan - Rockefeller
Traction
Hypomanic Edge
Can't Hurt Me
But remember, there is a funny thing about books.

You can read them and think and study all you want.

But unless you are out doing something and making things happen it won't help you at all.
And no book is 100% perfectly made for you. What Ted Turner did won't work for you.

You have to pick and choose the frameworks that fit into your life and DO THE WORK to apply them to your life or business.

More from Nick Huber

Nick Huber
Nick Huber
@sweatystartup
I got serious about Twitter on April 12th 2020.

Since that day:

I've raised $5MM and met with over 200 future investors in my real estate deals.

I've done $75k worth of consulting.

And I've met mentors and friends I'll carry with me for life.

What worked for me 👇👇👇

First of all I tried the mainstream advice and built my own blog, podcast, email list, YouTube. Spent 2 years. 500k downloads. Some success.

Got more value out of Twitter in 30 days.

If raising money or in business THIS is the platform.

Okay let’s go:

1. Stay on topic.

The most valuable folks here are here to learn. They curate their feed. They want business and to LEARN.

No fantasy football. No gifs. No pop culture. No one liner jokes.

Be an expert at what you do. Stay on brand.

2. No politics.

At all. Ever. It’s a great way to piss off (and say goodbye) to 1/2 the folks here.

Not everybody feels the way you do and the smartest folks don’t want your opinion. Nothing good comes of it. So avoid it.

3. Be incredibly open

Nobody will steal your ideas. Yes it’s uncomfortable and yes you’ll get challenged.

I shared my profit and loss statements on here. It led to discussions with many brilliant folks in the DMs and several folks who wanted to partner reaching out.
TRADING , INVESTING
Nick Huber
Nick Huber
@sweatystartup
A thread on how real estate investors, developers and operators can make millions a year and pay almost nothing in TAXES by using depreciation, bonus depreciation, and 1031 exchanges.

How it works:

Depreciation is the act of slowly, over time, deducting the initial expense of an asset against your taxable income. Generally over a 27.5 (residential) or 39 (commercial) yr time frame. So each year you can write off 2-3.6% of the purchase price against your income.

Thats a big deal. We're buying a new property, a $3MM self storage facility. Thats a $60k a year write off against about $260k in NOI and 200k in cashflow on a $3MM deal.

It makes 30% of our cashflow tax free.

Very powerful but there is much more to it...

Different parts of the asset can be depreciated on different schedules.

We'll have a cost segregation study done to split up the depreciable lifespan of different parts of the building. The raw land can't be depreciated so you have to give that a value.

But other items can be depreciated on a quicker timeline. A roof, road, sidewalk, fencing, walls, gates, doors, latches, flooring, air conditioners, pavers, curbing, landscaping, etc.

The IRS has a depreciation schedule for each type. Some parts are 5 yrs. Others 15 years...
BUSINESS
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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
Nick Huber
Nick Huber
@sweatystartup
If you're new to real estate twitter this is a must-read.

A thread on how most real estate folks structure deals with outside investors.

Most GPs 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
Nick Huber
Nick Huber
@sweatystartup
I'm not gonna lie.

My success is 95% attributable to running with the right people and being in the right place at the right time.

The lucky part for me:

It’s a flywheel and it’s all about momentum.

I’ve learned a lot from those folks. I’ve learned a lot about business and management and real estate.

My network is growing.

And I’ll continue to get even more opportunities and meet more people.

My advice:

Surround yourself with great people, add value to their lives so they keep you around, and focus on spotting opportunities.

Do the not fun, hard, sweaty work early so you can build up capital. Then work smart and keep the flywheel going.

And the thing you need to realize:

50% of people are negative, incompetent, mean and take more than they add.

Like crabs. They pull you back down into the bucket. Instead of lifting you up to help you win.

Cut the crabs (even the family crabs) out of your life.

The other 50% have an abundance mindset.

They don’t complain or blame.

They believe you winning is good for them. So they want you to win and will do things to help you win because they know it comes back around.

These are the folks you need to find, help and spend time with.
LIFE LESSONS

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@bellingcat's attempt in their new book, published by
@BloomsburyBooks, to coverup the @OPCW #Douma controversy, promote US and UK gov. war narratives, and whitewash fraudulent conduct within the OPCW, is an exercise in deception through omission. @BloomsburyPub @Tim_Hayward_


1) 2000 words are devoted to the OPCW controversy regarding the alleged chemical weapon attack in #Douma, Syria in 2018 but critical material is omitted from the book. Reading it, one would never know the following:

2) That the controversy started when the original interim report, drafted and agreed by Douma inspection team members, was secretly modified by an unknown OPCW person who had manipulated the findings to suggest an attack had occurred. https://t.co/QtAAyH9WyX… @RobertF40396660


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and can be readily observed in documents now available https://t.co/2BUNlD8ZUv….

4) @bellingcat's book also makes no mention of the @couragefoundation panel, attended by the @opcw's first Director General, Jose Bustani, at which an OPCW official detailed key procedural irregularities and scientific flaws with the Final Douma Report:
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Joseph Hyun Su Chun
Joseph Hyun Su Chun
@josephhschun
I'm feeling very thankful and slightly sentimental today.

While I take a small break from editing I want to make a thread thanking all the content creators that have inspired me and how they have inspired me.


One of my biggest inspirations in the content creation game.

Lessons Learned:
The sky is the limit, if you set your expectations low then you'll get low results. If you set your expectations at infinite and work towards that you'll reach heights.


The creator I probably resonate the most with emotionally.

Lesson Learned:
There's no stop. If you mess up or something doesn't work out, just take a break then come back stronger.
Content creation is a big thing and lessons learned is better than perfection.


The creator that just feels like he's having the most fun with his content.

Lesson Learned:
Have fun, make your content "you". You might have quirks and things that you might find weird about yourself but it's all good!
Allow yourself to be you! Even a potato!


The creator I feel like is always happy and it makes me also feel happy!

Lesson Learned:
Help me Help you. Content creation isn't a competition and it's actually if anything more a group effort!
If you improve the person next to you also improves. Be inspiring!
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Mentorshipzim
Mentorshipzim
@mentorshipzim
1. This morning we looked at wills & will writing but that is not the only component of inheritance. You can either die with a will or without one. Those who die without die intestate. And intestate comes in 3 ways.

2. a) If a person dies quiet a valid will,
b) if the person appointed to benefit from a will dies first & no substitution of heir is made
c) if the person appointed cannot take under a will.
The law focuses on the rights of the surviving spouse and the child if there is no will.

3. 2 major things affect intestate succession and these are date of death and marital status. This is because the current law ONLY affects people who died after 1 Nov 1997 & there are different laws that affect married & single people at death. The type of marriage applies too.

4. If you are married in terms of general law or what was once called ‘-Chapter 37’ & now ‘Chapter 5:11 or are married under ‘Chapter 5:07’ which is a registered customary marriage (muchato wekamudzviti) the Deceased Estates Succession Act applies. It’s only for registered 💍

5. If you are married under an unregistered customary law union (UCLU) which means having the traditional wedding without registration, the Administration of Estates Act applies. I don’t want to labour you with the technicalities but the distinction is very important.
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Legacy site *downloads* ~630 KB CSS per theme and writing direction.

6,769 rules
9,252 selectors
16.7k declarations
3,370 unique declarations
44 media queries
36 unique colors
50 unique background colors
46 unique font sizes
39 unique z-indices

https://t.co/qyl4Bt1i5x


PWA *incrementally generates* ~30 KB CSS that handles all themes and writing directions.

735 rules
740 selectors
757 declarations
730 unique declarations
0 media queries
11 unique colors
32 unique background colors
15 unique font sizes
7 unique z-indices

https://t.co/w7oNG5KUkJ


The legacy site's CSS is what happens when hundreds of people directly write CSS over many years. Specificity wars, redundancy, a house of cards that can't be fixed. The result is extremely inefficient and error-prone styling that punishes users and developers.

The PWA's CSS is generated on-demand by a JS framework that manages styles and outputs "atomic CSS". The framework can enforce strict constraints and perform optimisations, which is why the CSS is so much smaller and safer. Style conflicts and unbounded CSS growth are avoided.
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