The Nick Huber Show

Nick Huber

The Nick Huber show is a short-form podcast on real estate, entrepreneurship and wealth.

You won't find a lot of long-form interviews or unorganized banter. My goal is to be short and to the point and deliver value as quickly as possible. We'll cover things like terminology, deal overviews, acquisitions, structuring deals, raising money, operations, hiring and more.

All Episodes

What is your definition of success? For me, my definition of success is money in the bank. Because money, in my opinion, is a direct reflection of how much value you've added to the world. But as I've gotten older, I consider success a happy life. I consider success a balanced life where you're not just a good business person, but you're a good family member, husband, father and you are healthy, both physically and mentally. Find out why having a right definition of success is important in this episode.

Nov 29

12 min 4 sec

18 months ago, we just had six properties worth about $5 million, and by January 15, we'll have 1.2 million sq ft across 47 properties and 9000 units. We have deployed $77 million to acquire all the assets, $26 million of cash. Life is going so fast, but I would be lying to you if I didn't tell you that there's a lot of insecurity when it comes to this stuff. In this episode of the Nick Huber Show, we will talk about how to deal with Impostor Syndrome and overcoming fear.   Special thanks to the sponsor: https://junipersquare.com Join the community: https://sweatystartup.com/rec  

Nov 22

15 min 39 sec

I'm about to tell you a story that if you're out on social media, you probably won't care much for it. And if you're considering getting on social media, something you need to be aware of and frankly, it's the main reason why most people do not get involved in social media. Building in public comes with its own risks, it comes with its own downsides, and I don’t discuss them enough but that’s what we’ll be going to talk about in this episode. Find out what are the dangers of building in public in this episode! Listen to other streaming platform: Apple podcasts: https://apple.co/3r9O5BW Spotify: https://spoti.fi/2Ta5IoC Show notes: https://sweatystartup.com/the-nick-huber-show/ Special thanks to the sponsor: https://junipersquare.com Join the Real Estate community: https://sweatystartup.com/rec

Nov 15

14 min 33 sec

In this video I discuss three things: 1. What keeps me up at night 2. Update on my portfolio 3. Break down of REIT's 3rd quarter earning call Definitely an exciting episode! Find out more about the Q3 Self Storage results in this episode! Listen to other streaming platform: Apple podcasts: https://apple.co/3r9O5BW Spotify: https://spoti.fi/2Ta5IoC Show notes: https://sweatystartup.com/the-nick-huber-show/ Special thanks to the sponsor: https://junipersquare.com Join the Real Estate community: https://sweatystartup.com/rec

Nov 9

19 min 15 sec

In this episode, I'm going to talk about a couple of things that we've done and a couple of things that maybe you can do to manage risk. First things first, there are levers in real estate that are in your control, and there are levers in real estate that are outside of your control. Outside of your control levers includes, supplies to be delivered, interest rates when refinancing, and who’s going to buy my asset five years from now, etc. Those are all things that are outside of my control. I can't control interest rates, I can't control cap rates, and I can't control what somebody else is willing to pay for my asset. How can I minimize the effect of those while maximizing the things that I can control? So, what I do in my portfolio is I focus on minimizing the things outside of my control that I need to go right. I'm going to talk about a couple of things that we're doing inside of our portfolio to minimize risk. Find out more how to manage risk in Real Estate in this episode!

Nov 1

11 min 9 sec

In this episode of the Nick Huber Show, I'm going to talk about what you need to understand in real estate that so many beginner investors and others don’t get. This concept has a large relationship between my Sweaty Startup philosophy and why I love real estate:    Most people that find their way into investing in real estate start out doing something sweaty, boring, and non-revolutionary; they do something common uncommonly well: Many of these real estate investors begin gaining their original investment capital in a business that already exists. They find a way to do something a little bit better and they carve out a piece of the pie. Their startup isn’t glamorous, sexy, or life-changing to society. They don’t let themselves get emotionally attached to their business idea and, generally, they aren’t jumping into an industry that takes a lot of initial risk. They go out, sell themselves, and provide a product or service to an already existing market. They start!   Find out more what people don't understand about Real Estate in this episode!

Oct 25

14 min 4 sec

This episode is a deal breakdown of a self storage facility we purchased at the end of 2020 for $1.3 million. Youtube video with images: https://youtu.be/YrQdX3XCKTs

Oct 18

13 min 11 sec

So today's topic is just a quick tip on leverage, on debt, on dealing with your banker because, in this competitive environment, interest-only periods are key. When you're dealing with a local banker, they're probably going to want to put your first deal on a 20-year amortization schedule with no interest-only. Meaning right off the bat, you pay principal and interest, and this crushes cash flow. Learn how to negotiate the best loan terms in this episode! Listen to other streaming platform: Apple podcasts: https://apple.co/3r9O5BW Spotify: https://spoti.fi/2Ta5IoC Show notes: https://sweatystartup.com/the-nick-huber-show/ Special thanks to the sponsor: https://junipersquare.com Join the community: https://sweatystartup.com/rec

Oct 11

13 min 3 sec

In this episode of The Nick Huber Show, I was invited to sit down with the guys from Acquisitions Anonymous run by great entrepreneurs, in their podcast, Michael Girdley, Mills Snell, and Bill D’Alessandro talk about and break down businesses that are for sale, evaluating if they’re a good investment or not. We tackle a self-storage facility deal in this episode and discuss if it's a yay or a nay.   Find out more how much is a storage facility worth in this episode!   Show notes: https://sweatystartup.com/the-nick-huber-show/ Special thanks to the sponsor: https://junipersquare.com

Oct 4

26 min 21 sec

Just a brief episode this week on The Nick Huber Show, but I want to talk about how the market is changing - about how I'm looking at risk, debt, and my acquisition strategy. One of the things that I took away from that conference that I went to was a question that I had for a lot of very successful investors there: “How are you doing business in this market?” I asked this because the ability to buy real estate today, there’s a drastic difference in the economic environment that we're operating in now than there was a year ago. Special thanks to the sponsor: https://junipersquare.com Join the community: https://sweatystartup.com/rec  

Sep 27

6 min 48 sec

In this episode of The Nick Huber Show, I want to talk about property management. This isn’t necessarily real estate for beginners, but with that being said, it is something that you need to keep in mind when asking yourself “how to get started in real estate.” It is misunderstood by so many folks, especially beginners, that when looking at a property listing that's for sale on LoopNet or through another local broker, the first thing you go to is how it's underwritten - the little details line by line. You look for an answering service, any employees who stop in to check on your facility, etc. That is often what happens when it comes to property management. Now if I’m being completely honest, I recommend starting out with you being that part-time employee, and you being that answering service, and as you grow, you learn how to hire the right kind of employees. As you build out your real estate portfolio, naturally you’ll learn the importance of property management.   Find out more on this episode the X factor in real estate!   Listen to other streaming platform: Apple podcasts: https://apple.co/3r9O5BW Spotify: https://spoti.fi/2Ta5IoC Show notes: https://sweatystartup.com/the-nick-huber-show/ Special thanks to the sponsor: https://junipersquare.com  

Sep 20

9 min 29 sec

I attended a conference last week called Capital Camp in Columbia, Missouri. This is by no means a promotional ad for that conference, but I walked away with a clear head and some amazing insights into my strategy, my mindset, and how I manage the emotions and ego every entrepreneur deals with, especially with the Sweaty Startup Podcast and The Nick Huber Show. Everything was organized by my friend, Brent Beshore, and his partner Patrick O'Shaughnessy, both extremely accomplished investors. Just to give you an idea of the caliber of what I’m talking about, the average net worth of this conference was probably $10 million, roughly 280 attendees, and if I’m willing to bet, there were eight or nine billionaires. In short, there were a lot of bad-ass people that I had the opportunity of being around.   Find out more how successful people think in this episode!   Join the community: https://sweatystartup.com/rec Special thanks to the sponsor: https://supportshepherd.com

Sep 13

18 min 39 sec

So an update in my world... You can't win them all. I always try to, but sometimes even with the best real investment strategies, you’ll still lose. Recently, I was chasing the deal of my career. It was a 20 property portfolio in the Midwest in a major metro area of over 750,000 sq ft. Worth $70 million acquisition price, I was eager to meet the owner right away. Conveniently, the owner’s brother-in-law follows me on Twitter, which is how he found me, and out of the blue he calls, asking me to sit down and visit to discuss the deal. So, I went to his office, met him, drove around a couple of his properties that were within a three-hour radius, and spent about 4 hours discussing with him and his business partner what they’d want. Everything sounded promising and the benefits were going to be phenomenal... so I thought. Find out more how I lost a $75 MILLION REAL ESTATE DEAL in this episode! Apple podcasts: https://apple.co/3r9O5BW Spotify: https://spoti.fi/2Ta5IoC Show notes: https://sweatystartup.com/the-nick-huber-show/ Special thanks to the sponsor: https://junipersquare.com

Sep 6

8 min 25 sec

If you are going to build a real estate private equity company and become an expert in this market, then closing your deals in a professional manner is a must. With every property we buy, we have 2 sections – before the close and after the close.   Find out more how to close a real estate transaction in this episode!   Join the community: https://sweatystartup.com/rec Special thanks to the sponsor: https://Junipersquare.com

Aug 30

10 min 48 sec

Let’s talk about partners--those who invest in real estate deals. A sponsor, like me, deals mostly with investors, and if you listen to Episode 3, you’ll understand the relationship between General Partners (GP), or a syndicator, and Limited Partners, or investors. When you ask the question of how to invest in real estate with no money, as a syndicator you have two routes you can head towards. One is to have a couple of high-network individuals that write rather large checks for you to grow, or two, raise smaller checks and smaller amounts of money from larger pools of investors, both of which are effective real estate investment strategies.   Join the community: https://sweatystartup.com/rec Special thanks to the sponsor: https://junipersquare.com 

Aug 23

9 min 9 sec

If you’ve ever asked yourself how to start investing in real estate, for starters, you need to get around people doing what you’re wanting to do. One way to go about this is to get a job, and I'm going to tell you how to get one at a real estate private equity company. I’m also going to share with you what I look for when hiring, and when you’re at that point you can know who to hire for your own company.   Find out more in this episode how to get a job at a Real Estate frim!   Apple podcasts: https://apple.co/3r9O5BW Spotify: https://spoti.fi/2Ta5IoC Show notes: https://sweatystartup.com/the-nick-huber-show/ Join the community: https://sweatystartup.com/rec Special thanks to the sponsor: https://www.supportshepherd.com/  

Aug 19

10 min 34 sec

This is the podcast for real estate investors because nowhere else will you get a straightforward and honest discussion about everything surrounding real estate investments. People always ask: “how do I get started in real estate investing?" and my initial reaction is how much cash do you have? Because most people's mistake is that they don’t accumulate enough before they think about getting into real estate. You can buy all the online real estate courses you want, but if you don’t understand a few basic principles first, there’s really no point.   Find out how to get started in real estate in this episode!   Special thanks to the sponsor: https://junipersquare.com

Aug 16

15 min 6 sec

I want to talk about the true cost associated with this line of work. When it comes to buying and selling and investing in real estate, it is different from your average asset. Take stocks for example, it can be easy to panic sell with how easy a single click of a button makes it, and I am just as guilty as anybody of falling victim to this mindset. You can’t do this with real estate. You can’t just liquidate your investments, which some might call a bug. It’s actually a feature because it forces investors to think long term. You’ve got to exercise some patience, which can pay off. If I would’ve sold when the market crashed, I wouldn’t have been in the game in the hot market that it is now.   Find out what is the true cost of buying and selling real estate in this episode!   Join the community: https://sweatystartup.com/rec Special thanks to the sponsor: https://launchkits.com/sweaty

Aug 12

13 min 18 sec

Way back in early 2015, I planned and developed my self-storage business with my partner Dan. It took a total of 2 years to prepare and set this thing up right. From finding property and looking for the right deals and LPs, in May 2017, we opened our doors for business with 5 outside investors. Fast forward to today, we have 4,930 self-storage units, 24 properties, 642,000 sq/ft all in properties in Ohio, Pennsylvania, New York, and Connecticut, and aren’t stopping there. With four acquisition employees, we are making offers in Georgia, Kentucky, and Indiana, and our goal is to have 50 units in 30+ states. Find out more on how self storage investing work in this episode!

Aug 9

15 min 10 sec

When it comes to investing in real estate, do you want to know what's my secret to finding deals and acquiring real estate? From the tools that I use, website, tips, and tricks, I’m going to reveal my secret to growing my self-storage business: Bolt Storage.   Kidding, there is no secret sauce! There’s no shortcut and no easy way. You might not like it, but what I'm going to share in this video is the truth. It's just pure hard work, with acquisition being the hardest part of real estate. This is where you find the bottleneck of every business. A lot of people ask me: "How do I find real estate deals?" and they are shocked to learn that it's not easy for me. It’s never easy building a business. If it was, everyone would do it!   You have to have a competitive edge. That and you must be resourceful--build a system that involves a ton of hard work. There's no secret, just put in the work. Be resourceful. Be organized. You have to be able to do these things if you’re going to be a business owner. It seems easy for me to spot deals because I've got experience on my side, and hard work is how I got that eye for a deal. I have 4 acquisitions people who do the calls, talking to brokers, and underwriting deals.   I’ll tell you what, when it comes to real estate investing strategies, you’ve got to understand the key concepts around debt acquisitions, property management, operations, small business marketing, hiring and firing. All of that is the blocking and tackling of real estate. The money is made in the acquisition. If you can find good deals, you can build a business. That's why you gotta grind, be resourceful, and you have to understand the lingo and speak the language. Gain trust with the people who are selling, you got to structure the deal the right way, you got to move fast if you need to move fast. That's all there is to it. There's no secret, just hard work.   If you’re still not sure where to start, I offer real estate courses (both free and paid) to give you an idea of how to apply your hard work.

Aug 2

11 min 12 sec

In this episode I talk about one of my favorite and effective real estate investment strategies. Whether or not you’re a seasoned investor or new to the game, one of the most important things to be able to do is sell to LPs, and it might seem counterintuitive, but don’t roll out the red carpet. This is real estate investing for beginners, but a lot of veterans in the industry forget about this. Don’t flower up your deals and conversations when talking with potential investors. In fact, I’ve found that the better approach is to talk about the downsides of a deal--to talk about what you're struggling with.   This approach and process has developed over the years, but I’ve learned that it is a unique way of gaining an LPs trust. It helps manage expectations, because if you really think about it, investors already have an idea of why they might want to invest in you. You are not their first stop in the research process! They’ve done their homework and if they are talking to you, they’re already serious about striking a deal somewhere.   So, what are the negatives? What are the risks I’m up front with when LPs approach me? First off, property tax risk. The towns I’m buying in are not growing. They were booming at one point, but they’ve had a drop off in growth. Not only is their tax base low because of this, their infrastructure costs are high which puts a bigger burden on the companies that are already there. The second thing that can scare the hell out of me goes hand in hand with the first, and that is the lack of population growth, but I’m thinking long term--5 to 7 years when buying up property and in that time, a lot can change in an economy. I then throw the question out of the worst case scenario. If interest rates rise, inflation goes nuts, and the economy is hurting, are they okay with a long term relationship? With all these negatives in mind, how does it make them feel? And then I leave it at that.   It seems counterintuitive, but investors appreciate it. When they’re looking at investing in real estate they’ve told me, and naturally, they begin talking about what they like about the deal--they tell me what they’re thinking. Which brings me to my final point. This is not only a process for me to be transparent with investors, but it allows me to vet anyone who approaches and wants to make a deal. Sometimes I scare the hell out of them, and that’s okay. I don’t want someone looking to do a quick, big flip because again, I’m thinking long term and looking for a good business partnership as a result.

Jul 26

9 min 13 sec

In this episode of The Nick Huber Show I sit down with Chris Powers of Fort Capital who specializes in industrial real estate in the Dallas Fort Worth area.    Chris is a serial entrepreneur with more than 16 years of real estate development and investment experience. He founded Fort Capital in 2005, and to date, the company has invested over $584M in Class B industrial, commercial, multifamily, student housing, and residential/land development projects throughout the state of Texas.   Chris’s ability to conceptualize, raise capital, and execute are only a small part of what Chris brings to the table. With a belief that investing time in people is the best investment that can be made, Chris has built a strong network that has helped catapult the industry of private equity investing to where it is today. Graduating with a BBA in Finance & Marketing from Texas Christian University in Fort Worth, TX, Chris is innovative, ethics-driven, people-focused, community-minded, and passionate about ideas that matter, and has the professional and personal philosophy: “Tell the truth and be nice to people.” Chris is a member of the Fort Worth YPO Chapter and lives in Fort Worth, TX with his wife, Mikal, and their daughters, Palmer and Connor. As a mentor of mine, I have learned so much about what I do within the real estate private equity investing industry, and as we talk about the ways to do business, to raise money, and really the ways to become a successful real estate entrepreneur through simple real estate investment strategies, I hope you see the value this conversation has to offer.

Jul 19

1 hr 34 min

Sponsor: junipersquare.com Is real estate a good investment? The short answer is, yes! Now, when it comes to structuring a real estate private equity deal, there are some details that need to be considered. Here, I talk about how a real estate private equity firm is structured and give you some more good, need to know terminology. Generally speaking, there are two key sets of players with these kinds of agreements: General Partners (GPs) and Limited Partners (LPs), and in a nutshell, GPs raise money from outside investors--LPs--and are in charge of organizing the details. The GPs goal is to make money for both the LPs and themselves, and there are a variety of ways to accomplish this. Now, a big thing to keep in mind is what is termed as Waterfalls. Basically, this is an overflow of money that comes in from a private equity deal and there when it comes to dividing money for the deal, there are provisions stipulating where this overflow of cash goes: between the common shares and the preferred equity (LPs). In a preferred return this is like an interest rate promised to the LPs, because after all, they are the ones that fronted a bulk of the capital to begin with. Once that is met, The Promote is what goes to the GP.There are a lot of ways to structure a single deal, and knowing the difference between low risk and high risk deals is vital when organizing one, and fees are a major consideration. From Asset Under Management (AUM) fees to Acquisition and Disposition Fees all of these generally go to the GP to help them set up the deal for success. Structuring any deal really depends on the market and how aggressive or risky a specific deal is, which will also determine co-investing and debt sponsorship.

Jul 13

14 min 26 sec

Sponsor: Juniper Square Every industry has their own language with acronyms, industry terminology, and jargon. Real estate is no different. In this podcast for real estate investors, I go through the key terms anyone new to the market needs to know.   First and foremost you need to know what Net Operating Income (NOI) is. It is the almighty factor and standard profitability for a property. For the most part, it is consistent as it is your Top Line Revenue minus Property Expenses. Yes, these are affected by management and tenants, but it does not take into account the variety of other variables that COC does.   Now, Cash on Cash (COC) is the return on a property, which does depend on leverage, capital reserves, debt service payments, AUM fees, deal related fees, etc. In short, there are a lot of factors to consider when calculating the COC.   Second most important term is Cap Rate. Cap Rate a way to look at the yield on a property if it is unlevered? There are a ton of different terms when it comes to Cap Rate because of the various nuances that are simply based on what time you are looking at in a property’s life span. The two main types of Cap Rate you need to be concerned with are: In Place Cap Rate, which is what has happened within the last 12 months of a property, and Going in Cap Rate, which looks at the first year of operations as an estimate and projection.   An Unlevered Yield is when no debts are on a property and explains what the return percentage on a property is. In other words, it’s another way to look at Cap Rate, but in a percentage.   Pro Forma is the cash flow projection month by month and Underwriting is a way of creating a Pro Forma document. There are a lot of assumptions made in both these processes--any projection is and any bank and investor wants to see these numbers when considering a property.   Who are the Real Estate Actors when it comes to organizing and participating in a deal? There are two main players: the General Partner (GP) and Limited Partner (LP). The GP is the sponsor in real estate private equity. They find and organize the deal, executing it and doing the work, which is what I do. The LP are simply investors. They put their cash into the deal. GPs raise their money from LPs.   Debt Service is the principal and interest payments on a loan and any related expenses, while the Lease Up Period is the time it takes for tenants to rent up your space before you reach maximum occupancy--the time frame in which you get new customers.   Now, throughout the podcast we’ll be talking about Asset Classes, or the type of real estate investments. There are a number of them: self storage (which is what I’m involved in with my company Bolt Storage), mobile home parks, industrial real estate, family, single family, medical office, etc.. Every Asset Class has their pros and cons, so be aware of them when pursuing an Asset Class.   Debt Service Coverage Ratio (DSCR) is the last major term and is the relation of the NOI to the total debt-service obligation you have on a property with principal and interest. Most banks have a comfortable number they like to stay with when considering DSCR and is another variable to consider when planning out your real estate investment strategies.

Jul 13

15 min 26 sec

Sponsor: Juniper Square Is real estate a good investment? Yes! But why trust a random stranger on the internet? Well, you shouldn’t. I am just a 32 year old guy chasing some massive deals and learning as I go. With that being said, I have a unique background for real estate that I think is extremely valuable and worth sharing. I come from an operations background of marketing, hiring, organizing and management oversight, all of which has given me a serious competitive advantage in real estate. In 2011, my buddy Dan and I started a small business called Storage Squad, a pick up and delivery student storage service. With 12 states, 30 college campuses and up to 300 part time employees during the busy season, this was a logistical nightmare to say the least. However, it was a huge learning experience and gave me some valuable insight into real estate. Right now, I own a real estate private equity company called Bolt Storage. With 24 self storage facilities, 642,000 square feet, and almost 5,000 units (4, 930), Bolt Storage operates in four different states: Ohio, Pennsylvania, Connecticut and New York. Our operations division has 9 employees and our acquisitions division has 4 and we aren’t slowing down anytime soon. In 2021, my partner and I sold Storage Squad for seven figures, giving us the opportunity to rebrand under Bolt Storage, allowing us to grow at the rate we have been. Although my background is unconventional for real estate, the principles and concepts are the same. They’re universal and can be applied to anyone's real estate investment strategies. This is a podcast for real estate investors, beginning and seasoned professionals to become better no matter what background they come from. Real estate is a lonely game, and I want to change that and create a community that is conducive to beginners looking to get into the game, bigger investors, and everyone in between. There is no reason you can’t make some big, financial changes and have massive success. You just gotta put in the work!

Jul 13

8 min 32 sec