#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
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Key Takeaways
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.
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.
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