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#133November 11, 202054:08

#127 with Nick Huber - Building a $10m Self-Storage Business and…

About This Episode

Nick Huber, known as the 'Sweaty Startup,' joins the show to discuss how he built a $10 million self-storage empire by acquiring and automating mom-and-pop facilities. The episode explores the massive opportunity in applying modern technology and management systems to 'unsexy' service businesses and real estate asset classes in small-town America.

Episode Description

Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) host the podcast today with special guest Nick Huber (@sweatystartup), self-storage investor. In today’s episode you’ll hear: Nick’s background and how he started his real estate empire (1:25), Shaan asks Nick to summarize how someone makes money in real estate (6:55), Nick explains how he gets deals (13:00), Nick shares how he bootstrapped his business from his dorm room (17:30), Nick tells the story of telling his dad he was starting a moving company when graduating from an Ivey League school (27:00), Sam makes an observations about people from India owning a lot of hotels (36:00), Nick gives some other “low tech” personal services ripe for innovation (43:00). Thank you to our sponsor this episode, EPOS! EPOS are fantastic headsets that make it easy to work flexibly across situations and locations, with portable headsets including hassle-free device compatibility. If you are an IT manager running a big department or a head of a growing company looking to give your employees the best headset solution to work from home, check out eposaudio.com/millions for a free trial! Have you joined our private FB group yet? It's a page where people share each others million dollar ideas or what they're already working on: https://www.facebook.com/groups/ourfirstmillion.  See acast.com/privacy for privacy and opt-out information.

Check Out eposaudio.com/millions for a free trial! Have you joined our private FB group yet? It's a page where people share each others million dollar ideas or what they're already working on

Key Takeaways

1

Identify industries dominated by 'old guard' owners who use paper ledgers and fax machines, then apply basic automation software to slash management costs and increase profit margins.

2

Utilize the 'cash-out refinance' strategy by increasing a property's Net Operating Income (NOI) through efficiency, which raises the asset's value and allows you to pull your initial capital out to reinvest in new deals.

3

Start with a high-cash-flow service business to build the personal capital and credit history necessary to eventually transition into passive, high-leverage real estate assets.

Business Ideas Mentioned

Automated Boutique Motel Portfolio

Real Estate

Tech-Enabled Local Service Agency

Boring Business

Pet Crematorium Niche Real Estate

Boring Business

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Quick Stats

Duration54:08
Guests1
Ideas Discussed3
Topics4