The FORT Podcast: Nick Huber (Part 2)
On this episode, Nick Huber joins Chris for his second appearance on The FORT podcast. Nick is the founder of The Sweaty Startup whose mission is to help people do common things uncommonly well.
Nick and Chris discuss his massive growth on Twitter over the last 6 months and what kind of value that’s brought him. They talk self-storage and Nick’s 12 properties under contract as well as how he was able to raise the money for those deals. They touch on the importance of providing value and content online, the steps Chris took in his business career to get where he is now, Nick’s Real Estate course, and much more.
(You can listen to Part 1 with Nick, here.)
(02:43) – Walk Us Through Selling Your Self-Storage Business and What Y’all Went Through in 2020
(03:54) – Was there a moment when you realized that it was time to sell?
(04:32) – How long did it take you all to sell?
(05:32) – How much has your growth on Twitter changed your world?
(06:25) – How were you able to earn $100k in consulting?
(07:39) – How Chris and Nick Engage with Potential Investors
(10:52) – Nick’s Thread that Was Published on Morning Brew that Led to 30-40k Followers on Twitter
(11:52) – Nick and Chris’ Thoughts on Giving Information Away on Twitter and Handling Trolls
(14:38) – How do you meet the really big people on Twitter?
(15:07) – Chris’ Twitter & Podcast Goals
(17:32) – Nick’s Business Goals and The Steps Chris Took to Get to Where He is Now
(22:27) – Thinking of Hiring as an Asset and Not an Expense
(25:40) – Clubhouse
(27:17) – Twitter Q: What would you be doing if you weren’t doing real estate?
(31:56) – Nick’s Real Estate Course (The Non-Sales Pitch)
(33:58) – Podia
(35:35) – What asset class would you jump into if you couldn’t do self-storage?
(37:04) – How are you underwriting your expected churn?
(38:40) – Why do you continue to focus on the NorthEast?
(40:42) – What’s the most common thing you do to increase value when you take over a property?
(42:44) – Nick’s Advertising Process
(43:09) – Twitter Q: How are you sourcing and getting things under contract so quickly?
(44:37) – Working with Brokers
(49:41) – Cash-Out Refinancing
(51:05) – Demographic Differences Between Rural NE and The Big Cities
(51:50) – Customers Taking Advantage of Customer Service Reps
(54:50) – What type of person are you hiring?
(56:14) – What do the first 2 weeks look like after closing 12 properties?
(58:12) – Twitter Q: Buy and Hold forever vs. Buy and Sell in 5-7 years?
(1:01:28) – Being an LP
(1:05:36) – Wrap Up
The FORT is produced by Straight Up Podcasts