It’s about becoming a person great mentors WANT to help.
What successful people understood before they were successful.
A short thread.
It’s about becoming a person great mentors WANT to help.
It’s about adding 10x as much value as you want to receive.
What you do on day one will look nothing like what you’re doing on day 10,000.
When you take time to zoom out and figure out what that is, you can do much more much faster.
Find a way to make sure everyone wins and everyone can be selfish for good reasons.
Selfish + abundance = wins
Selfish + scarcity = losses
Take take take. Give nothing.
Avoid these people. Do not bring them along on your journey. Do not hire them. They drag everyone down.
Everything worth doing in this world requires you to get uncomfortable.
The key is finding a way to be a good friend, husband, father at the same time.
Anything worth doing gets really tedious 2 years in. Year 2-5 is the critical period.
Thank you for reading!
More from Nick Huber
Don’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:
Don’t.
Here’s why
👇👇👇
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 you’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 they’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. You’ll probably be okay.
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:
Don’t.
Here’s why
👇👇👇
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.
Everybody I know loves LEVERAGE when it comes to real estate.
— Nick Huber (@sweatystartup) October 18, 2020
It\u2019s a beautiful and scary tool, kicking appreciation, depreciation, and cashflow into overdrive.
It amplifies everything. You can make a lot of money really fast and go broke in months.
Here\u2019s how it works\U0001f447\U0001f447\U0001f447
Values drop 5 or 10% and you’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 they’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. You’ll probably be okay.
More from Life
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.
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:
Next level tactic when closing a sale, candidate, or investment:
— Erik Torenberg (@eriktorenberg) February 27, 2018
Ask: \u201cWhat needs to be true for you to be all in?\u201d
You'll usually get an explicit answer that you might not get otherwise. It also holds them accountable once the thing they need becomes true.
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.
