Episode
#127 with Nick Huber - Building a $10m Self-Storage Business and the Opportunities in "Sweaty Startups"
54:08
Published: Wed Nov 11 2020
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.
Chapters
Sam Rosen shares his journey from founding a pickup and delivery student storage company to creating MakeSpace, a company that aims to revolutionize the storage industry by providing a more convenient and affordable way for people to store their belongings.
00:00 - 03:28 (03:28)
Summary
Sam Rosen shares his journey from founding a pickup and delivery student storage company to creating MakeSpace, a company that aims to revolutionize the storage industry by providing a more convenient and affordable way for people to store their belongings.
Episode#127 with Nick Huber - Building a $10m Self-Storage Business and the Opportunities in "Sweaty Startups"
PodcastMy First Million
A discussion of the three stages of entrepreneurial success, from starting a profitable business to building a mini empire.
03:28 - 06:11 (02:43)
Summary
A discussion of the three stages of entrepreneurial success, from starting a profitable business to building a mini empire.
Episode#127 with Nick Huber - Building a $10m Self-Storage Business and the Opportunities in "Sweaty Startups"
PodcastMy First Million
The speaker discusses the advantages of investing in self-storage units, citing the tax benefits and slow amortization process as aspects that make it attractive.
06:12 - 09:52 (03:40)
Summary
The speaker discusses the advantages of investing in self-storage units, citing the tax benefits and slow amortization process as aspects that make it attractive.
Episode#127 with Nick Huber - Building a $10m Self-Storage Business and the Opportunities in "Sweaty Startups"
PodcastMy First Million
The speaker discusses purchasing storage facilities at an average of 1.5 to 2 million dollars apiece, and the difficulties associated with managing employees.
09:52 - 14:00 (04:07)
Summary
The speaker discusses purchasing storage facilities at an average of 1.5 to 2 million dollars apiece, and the difficulties associated with managing employees.
Episode#127 with Nick Huber - Building a $10m Self-Storage Business and the Opportunities in "Sweaty Startups"
PodcastMy First Million
The speaker explains how investing in self storage facilities can provide financial stability, with a low trading cap and the ability to increase revenue by raising rents and decreasing costs.
14:00 - 18:17 (04:17)
Summary
The speaker explains how investing in self storage facilities can provide financial stability, with a low trading cap and the ability to increase revenue by raising rents and decreasing costs. They also suggest keeping a financial reserve to avoid losing a fortune if things change.
Episode#127 with Nick Huber - Building a $10m Self-Storage Business and the Opportunities in "Sweaty Startups"
PodcastMy First Million
This podcast episode focuses on the potential in home services and the advantages of competing against small businesses.
18:17 - 23:12 (04:55)
Summary
This podcast episode focuses on the potential in home services and the advantages of competing against small businesses. It encourages listeners to consider the profitability of this industry and to prioritize small business development regardless of how unsexy it may seem.
Episode#127 with Nick Huber - Building a $10m Self-Storage Business and the Opportunities in "Sweaty Startups"
PodcastMy First Million
The speaker explains that there are still opportunities to invest in profitable and durable businesses such as plumbing companies, roofing companies, and HVAC companies that can be scaled up to generate significant revenue with the right management and investment.
23:12 - 27:50 (04:37)
Summary
The speaker explains that there are still opportunities to invest in profitable and durable businesses such as plumbing companies, roofing companies, and HVAC companies that can be scaled up to generate significant revenue with the right management and investment.
Episode#127 with Nick Huber - Building a $10m Self-Storage Business and the Opportunities in "Sweaty Startups"
PodcastMy First Million
The profitability of self-storage facilities can be improved by reducing the expense ratio, investing in security systems, and increasing the net operating income through efficient operations.
27:50 - 32:29 (04:39)
Summary
The profitability of self-storage facilities can be improved by reducing the expense ratio, investing in security systems, and increasing the net operating income through efficient operations. A training system and tools like automated gates and security cameras can help achieve these results.
Episode#127 with Nick Huber - Building a $10m Self-Storage Business and the Opportunities in "Sweaty Startups"
PodcastMy First Million
The motel industry in middle America is largely owned by Indian families, and many of their properties are now being converted into Airbnb's.
32:29 - 36:42 (04:12)
Summary
The motel industry in middle America is largely owned by Indian families, and many of their properties are now being converted into Airbnb's. Investing in these small town properties requires smart finances and bookkeeping, but can yield considerable profits.
Episode#127 with Nick Huber - Building a $10m Self-Storage Business and the Opportunities in "Sweaty Startups"
PodcastMy First Million
The story of a man who came to the United States at age 20 with $20 in his pocket and built up a little empire around hotels.
36:42 - 42:39 (05:57)
Summary
The story of a man who came to the United States at age 20 with $20 in his pocket and built up a little empire around hotels.
Episode#127 with Nick Huber - Building a $10m Self-Storage Business and the Opportunities in "Sweaty Startups"
PodcastMy First Million
In this podcast, the host shares his perspective on using software capital media or other levers to make a business more profitable or to reach more people.
42:39 - 50:31 (07:51)
Summary
In this podcast, the host shares his perspective on using software capital media or other levers to make a business more profitable or to reach more people. He argues that while it may not be solving cancer, it can help people change their lives for the better.
Episode#127 with Nick Huber - Building a $10m Self-Storage Business and the Opportunities in "Sweaty Startups"
PodcastMy First Million
Real estate investment can provide personal fulfillment and financial returns for individuals looking to achieve their goals.
50:32 - 53:31 (02:58)
Summary
Real estate investment can provide personal fulfillment and financial returns for individuals looking to achieve their goals. Pursuing niche opportunities like animal crematoriums can also provide unique opportunities for success.
Episode#127 with Nick Huber - Building a $10m Self-Storage Business and the Opportunities in "Sweaty Startups"
PodcastMy First Million
Nick of Sweaty Startup shares tips on starting a successful sole proprietorship business, including finding untapped markets and keeping overhead costs low.
53:31 - 54:01 (00:30)
Summary
Nick of Sweaty Startup shares tips on starting a successful sole proprietorship business, including finding untapped markets and keeping overhead costs low.