BC FINANCE
Saved by @Mollyycolllinss

How you know you've made it:

You get to stop doing business with assholes.

No asshole clients.

No asshole partners.

No asshole investors.

 In the early days, when you're hungry, you have to do what you have to do.

Bend over backwards for customers.

Deal with disrespectful partners.

Take investments from folks who don't have the same vision as you do and bend the terms to their liking.
As you build enough experience and wealth this slowly shifts.

And you can start firing the bad customers.

Breaking up with the bad partners.

And buying out the bad investors.
This is different than F U money.

F U money is the next phase...

It happens a few million later when you become one of the assholes.

Tip:

Get F U money but don't become an asshole.
This transformation happens through leverage.

When we start, we have none. Others have it all.

You have no negotiation power because they have everything YOU need and YOU are a commodity.
But when you get some skill and experience you get a little bit of leverage.

Not just anyone can do what you can do. So you can negotiate more for yourself.

You aren't a commodity anymore.
Sometimes the other person becomes the commodity. And you have all the leverage.

And you set the terms and the other person doesn't get to act like an asshole.

Clients need you more than you need them.

Partners need you more than you need them.
And eventually, when you get really good, something amazing happens.

CAPITAL becomes a commodity.

Cash needs you more than you need cash. And investors lose the leverage and you gain the leverage.

Thats when you have an opportunity to carve out better terms and more ownership.
And then you get even more leverage.

And even more money.

And the snowball continues to roll down the hill.
If you want threads like this by email, join my substack. https://t.co/FEt1sBoSWS

@threadreaderapp unroll

More from Nick Huber

Nick Huber
Nick Huber
@sweatystartup
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.
BUSINESS
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.

👇👇

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
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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
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
ALL , LIFE
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 it’s 1985 is astounding.
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Brian Feroldi
Brian Feroldi
@BrianFeroldi
1/ My Mission: To Spread Financial Wellness (thread)

Here’s what "financial wellness" means to me

⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️

2/ Mindset

Humans are programmed to think short-term

Evolutionary, thinking short-term makes sense. It helps with survival.

Financial wellness is all about training yourself to develop a long-term mindset

Not easy -- it takes practice


3/ Mindset

If you join the right tribes, you can’t help but improve

My favs:
@AffordAnything
@ChooseFiFI
FinTwit
@MicroCapClub
@themotleyfoolFool
@visualizevalue

Twitter / Podcasts / Blogs / YouTube -- when used correctly -- are amazing


4/ Mindset

Educate yourself - constantly!

Especially about:

1⃣Money
2⃣Relationships
3⃣Health

These 3 categories have an outsized influence on all areas of your life

Books


5/ Career

In the beginning, focus on growing your income

Do more than what is expected

Become a lynchpin

Find a career that you ENJOY (<- important!) that also has high-income potential

Start a side hustle (<- important!)

Build your talent
FINANCE
Prashant Shah
Prashant Shah
@Prashantshah267
Thread: P&F Super Pattern

An effective price pattern defined using properties of P&F charts.

#Superpattern #Pointandfigure #Definedge


Point & Figure is an oldest charting method where price is plotted vertically, and the chart moves only when price moves. It is a different way of looking at the price, the objective box-value and reversal value offers advantage of identifying objective price patterns.

When price is moving up, it is plotted in a column of 'X'. When it is going down, it is plotted in a column of ‘O’. Normally, three-box reversal criteria is used to define the trend & reversal. Unlike a bar or candle, the P&F column can have multiple sessions in it.


Link to know more about the subject:
https://t.co/2xtLAVPBvm

See below chart. Price is in a strong uptrend, P&F chart would produce a long of column of 'X' with more number of boxes in it.


If such a trend is followed by some time bars without meaningful price correct, P&F chart would not move, and it will remain in column of 'X' in such a scenario.
FINANCE
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신념의사나이...
@Belposto_korea
Introducing “Financial Service Centers.” The future of the new Financial Service Industry.

There is a need that the banking system has provided for all of society that cannot be eliminated within the new Quantum Financial System./1

The financial system is the glue that holds society together as we go about our commerce one with another. It is essential./2

As long as money is used to exchange goods and services, it is a service that must continue in some form, hopefully, better. Positioning ourselves to perform this service is essential./3

As the Zim Benefactors begin their humanitarian activities, a new Financial Service Industry will need to be created out of the demise of the banks. It is a major facet of society that few Zim Benefactors have given any thought to./4

The Financial Services Industry is just as important as putting food on the table and a roof over the heads of humanity if society is to be successful. Again, it is the glue or mortar, that keeps the bricks of society together./5
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Subhadip Nandy
Subhadip Nandy
@SubhadipNandy16
Two year back thread on MFI, someone liked this so came up in notifications . Rather than running around 100s of indicators, I have made this my go to indicator under any circumstances and have been using this for years


This thread actually had some great answers , one can learn a lot about the thought processes of different traders from the answers. Please go thru them
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John Hayward
John Hayward
@Doc_0
One reason the Left hates Rush so much is that he was so effective at skewering their pretensions to moral and intellectual superiority. He made it okay to laugh at them, to judge the failure of their policies without ritually celebrating their alleged good intentions.
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Only give these currencies to high value people. Never spend these currencies on low value shitheads eg: trolls, weasels, snakes, naysayers etc.

'Wait, I thought money was the most important currency?'

Nah.

Once you adopt abundance mentality, you realize their is no shortage of money.

Making the dollars your most important currency will have you leading an empty life.

Time to flip your perspective.

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When you strip yourself to the core, you are an emotional creature.

Emotions are your internal worlds energy.

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You have a finite amount everyday, so spend it wisely.

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A second that is lost will never be returned.

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Erik Torenberg
@eriktorenberg
1/“What would need to be true for you to….X”

Why is this the most powerful question you can ask when attempting to reach an agreement with another human being or organization?

A thread, co-written by @deanmbrody:


2/ First, “X” could be lots of things. Examples: What would need to be true for you to

- “Feel it's in our best interest for me to be CMO"
- “Feel that we’re in a good place as a company”
- “Feel that we’re on the same page”
- “Feel that we both got what we wanted from this deal

3/ Normally, we aren’t that direct. Example from startup/VC land:

Founders leave VC meetings thinking that every VC will invest, but they rarely do.

Worse over, the founders don’t know what they need to do in order to be fundable.

4/ So why should you ask the magic Q?

To get clarity.

You want to know where you stand, and what it takes to get what you want in a way that also gets them what they want.

It also holds them (mentally) accountable once the thing they need becomes true.

5/ Staying in the context of soliciting investors, the question is “what would need to be true for you to want to invest (or partner with us on this journey, etc)?”

Multiple responses to this question are likely to deliver a positive result.
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