big louis winthorpe III energy

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.

I don’t want to put anyone on blast, but I’ve seen a few people saying, erroneously, that superhero comics sell more by the numbers, that they have the biggest sales overall and (most wrong of all) that they are the best selling comics globally. And, uh...Shounen Jump called. 📞

I’m not saying this to detract the historical and global importance of B2 comics... they were once huge. They are also old, so as far as historically, yeah they have decently big numbers. They are not doing those numbers now, or anytime in the past decade.

The best selling series, ever, by a Big 2 is Spider-man, selling 650 million since 1963. You can tally up all their series together but that’s a bit unfair so let’s stick to individuals. 650 is VERY respectable.

One Piece, Japans top selling collected manga, has sold 470 million....since 1997.

But that’s collected volumes...manga magazines are really a more equitable competitor to floppies, although not exact because, in fairness, they contain several series. That said, shounen jump has sold 7.6 billion. There are several other shounen magazines in that range.

Over the last 5 years, I’ve helped build courses taken by 40,000 students w/ $30M+ in revenue.

Today we’re launching a *free* cohort-based course on How to Build a CBC!

At the end of this, you’ll have a full course ready to launch.

Apply here: https://t.co/kp2vyBWE9K

Read on

A CBC on CBCs is a bit meta. But it's the best way to teach a complex topic that benefits from hands-on projects, peers, feedback.

@patel0phone and I have been working 1:1 w/all-star instructors (like @APompliano @lennysan). Now we're ready to apply these lessons to your course

Our system is proven yet flexible.

It's not one-size-fits-all. We teach underlying skills & create an accountability system so you build a course that's uniquely yours.

It’s the same process I’ve used for @alt_MBA @david_perell @fortelabs

Structure and accountability:

The course creation process is complex. There are lots of interconnected
decisions & second order effects.

We help you make sense of it with:

+ Step by step process
+ Clear deliverables
+ Feedback from us & peers
+ Gut checks
+ Weekly homework

On a weekly basis, you'll know what to work on and why--so you can efficiently & effectively create a high quality course you're proud of.

It's an iterative process to get ideas out of your head, share feedback, discuss, build, refine, lock it in. Piece by piece, brick by brick

I took Ogilvy's course on Behavioural Economics and Comsumer psychology.

Here are the 10 important theory's I learned from it which you'd be a fool to miss out on:

Loss aversion theory:

The negative psychological impact we feel from losing something is about twice as strong as the positive impact of gaining the same thing.

Finding ₹100$ would makes us happy
Losing ₹100$ would makes us 2X unhappy

Sentence Framing:

The way you frame your sentences is very important. Make them forget about the negative thing by reiterating something which might be positive. We have a stronger bias for things that sound positive.

10% chance of death Vs 90% chance of survival

Goal Gradient Hypothesis:

Humans are hardwired for instant gratification.
as people get closer to the reward, they speed their behavior. So, reward people sooner instead of later

eg: Don't make a goal of reading 52 books a year, make it 1 chapter per day.

Mental Anchoring:

It's the phenomenon where our decisions are heavily based on the 1st piece of information we receive, regardless of whether the information is relevant or not.

Make the first piece of information powerful.