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Introduction

• Who is this course for?

• How do real estate investors get really wealthy?1

• The two almighty definitions: NOI and Cap rates2

• Cap rates and NOI - a quiz

• Quiz Review

• Nick's Journey1

• Nick's Portfolio (Recorded December 2021)

• Nick's Portfolio (Recorded March 2022)1

• A note

Feedback and Comments

• Before you dive in

How to create a lot of money out of thin air

• The wealthiest guy I know1

• Trampolines, gyms and cold hard cash

The skills you need to win

• Sales3

• Communication and Writing1

• Resourcefulness

• Likability, Trust and Emotional Intelligence

Types of real estate

• A list of niche real estate asset classes and key terms

The mindset of a successful investor

• The way to think about the critical aspects of business1

How to learn any asset class very quickly

• Find the professionals - talk to them, work for them or compete with them

How real estate is valued

• Smell Tests, speculation and trends

• Underwriting - how to figure out what a property is worth to you4

• Aspects of a good cash flow model2

• Deal Overview4

• Monthly Cash Flow Model1

• A walk through of my model1

• Where do you get a model specific to your industry?

• Due Diligence

• Due Diligence List

Appreciation

• How appreciation works3

• The ways to force appreciation

• An operational advantage and the holy grail

• The roll-up strategy and cap rate compression

• Time - the ultimate tailwind

Leverage

• Leverage Basics

• Key definitions

• The great amplifier4

• Visualizing Leverage in Real Estate w/ Nick Huber

• Refinance and Recaps

• Deal Breakdown: My $2MM cash-out-refi3

• Debt Constant

• Debt Constant Worksheet

• Debt Constant Quiz Review

• Debt Yield2

• Debt Constant Table

• Debt Constant / Debt Yield discussion1

• Debt Constant / Debt Yield Quiz

• Quiz Review

• Alternative financing method: securities backed line of credit

• Negative Leverage - Explained

Test your knowledge - managing risk

• Model Walkthrough - Stress Tests

• Stress Tests - Excel.xlsx

• Managing Risk - Quiz

• Quiz Review

Update

• What do you think so far?10

The Tax Advantages of Real Estate

• Depreciation / Bonus Depreciation

• Basis, Bonus Depreciation, Recapture, Capital Gains1

• Interest Expense as a Deduction

• Real Estate Professional Status1

• 1031 Exchange2

• Step-up In Basis

• Income vs. Capital Gains

• QOZ - Qualified Opportunity Zone

• Conservation Easements

• Additional Loopholes

• Basis and Depreciation Quiz

• Recapture and Capital Gains Quiz

• IRS Publication 946 - Depreciation

• IRS Depreciation FAQ

• Cost Seg Study Example - Self Storage Facility

• Cost Seg Study Example - Vacation / rental property

The Risks of Real Estate

• How to lose a lot of money really fast

• Everything is cyclical1

• Operations, Emotions and CAPEX

• How to hedge your risk

How do I get started?

• What you probably don't want to hear

• Quality over quantity

• The golden rule of real estate

• How much cash do I need and what kind of returns can I expect?

• Scale or stay small?

• Beta vs. Alpha

• My framework for spotting real estate opportunities

• Real estate opportunities I love right now

Your real estate team

• The Banker, Attorney, CPA, Contractor and Insurance Agent

• The hardest relationship to build - contractors and service providers

The dynamics of buying a property

• Are you a closer or a joker?

• The off-market cold call

• Looking at deals from Brokers

• The offer

• DEAL OVERVIEW: Gloversville - when the buyer has all the leverage1

• LOI - GLOVERSVILLE SIDE BY SIDE (4).pdf

• PSA, Real Estate Attorney, Due Diligence Period

• Due Diligence Request List.pdf

Raising OPM (other people's money)

• A day in the life - trying to finish raising for a deal

• Raising Other People's Money

• Sources of Outside Capital

• When should I get LPs? Should I raise money on my very first deal?

• Selling Limited Partners on your Deal

• Communicating and Reporting

• Company Overview Deck

• Preferred Equity Deck Example

• 2020 Year in Review - Bolt Storage

• 2021 Year in Review, Bolt Storage

How to dominate Twitter

• How I raised $5MM in capital on Twitter

• How to go from 95 followers to 95,000 followers in 10 months

• The bad news

Deal Structures

• The real estate private equity terminology you need to know

• How real estate private equity works

• Terms

• Prefs, Promotes, Waterfalls2

• Fees

• How to think about fees

• How should you structure your deal?

• PPM and Executive Summaries

• Elmira NY Investment Prospectus

• Accredited Investors

• The straight split structure

• My process with LPs1

• Vetting LPs and Managing Expectations

• Re-capitalizing a Deal

• Ohio Portfolio Executive Summary.pdf

• FINAL LP Expected Case Akron Bowling Green Wolf.xlsx

• Bolt Track Record.xlsx

• Peru, IN Storage Portfolio Executive Summary.pdf

• Georgia Portfolio Executive Summary.pdf

• How to think about building a sustainable private equity company

• How my real estate private equity and management company work together

How to scale your portfolio

• The Method

• Building your team

• Finding off-market deals

• Deal-flow from brokers

• The ability to close "messy deals"

Investing with others as a Limited Partner

• What questions should I ask?

• New York Self Storage Investor Deck

• New York Self Storage - Nick's Thoughts1

My biggest mistakes in real estate

• New development, zoning and prepayment penalties

Nick's Deal Breakdowns and Additional Resources

• My first deal and how we made $2MM through a cash-out refinance1

• Pittsburgh PA Deal

• Shippenville PA Deal

• Closing on Erie / Pittsburg (vlog style)

• Deal Breakdown - Gloversville (2021 Update)

• RE #73: Nick Huber - Self Storage & Sweaty Businesses

• RE #112: Nick Huber - Self Storage, Twitter, & Sweat (Part 2)

• Profitable Real Estate Investing I Nick Huber l Pomp Podcast #453

• Get to know Nick - and the non-sexy areas of entrepreneurship

• Nick's Booklist

• How profitable is a storage facility? Nick's 2021 Deal Breakdown

• Nick's Talk at Re-Convene1

• Deal Breakdown - Tompkins County NY

The case for buy-and-hold real estate

• Parting thoughts