Who is this for?

Who is this for?

This is for folks serious about making real estate a part of their career, maybe even their entire career. Maybe you have some cash, maybe you have some operational experience, maybe you're looking to buy your own deal or invest in someone else's. Maybe you just don't want to be taken advantage of in a deal and want to know the basics. 


This will help you understand the pros and cons of real estate, from the tax efficiency to the risk factors. You'll be able to have an educated conversation with investors, sponsors, bankers, brokers, and more.


This is dense. I get it. 


Chapters can (and should) be skipped or skimmed or underlined and studied. It is a springboard to your learning. Google is your friend. Keep it handy. We cover a lot on the surface and we dig deeper on the things that are important.


Keep in mind this is one guy’s point of view. There are thousands of ways to do this and a lot of ways to win. Get a lot of advice, and as I said, do a lot of your own research.


Do I recommend taking this course and diving right in headfirst with your first multimillion-dollar purchase? If you've got the operational chops and the cash, then sure. 


But I'll give you the tools to answer that question for yourself.


Before the internet and before folks could get their hands on things like this document you are reading right now, there was one primary way to get into real estate:


Win the birth lottery.


The folks who own the vast majority of real estate in our country were born into real estate families. They came of age, entered the business, and had access to the two most precious resources in existence when it comes to real estate: knowledge and capital.


But times are different now and knowledge is everywhere. Capital is everywhere.


So, where should you start if you didn't win the birth lottery?


Right here! Let’s dive in!

Nick's Real Estate Starter Class

Buy nowLearn more

Introduction

  • Who is this for?
  • How is this different from the Master Class?
  • How do real estate investors get really wealthy?1
  • The two almighty definitions: NOI and Cap rates
  • Cap rates and NOI - a quiz
  • Quiz Review
  • Nick's Journey
  • Nick's Portfolio (Recorded March 2022)
  • A note before you dive in1
  • Legal Disclaimer

Real Estate 101

  • State of the market - June 2022
  • Almighty Metric #1 - Net Operating Income2
  • Almighty Metric #2 - Cap Rate1
  • How to build a great network

How to create a lot of money out of thin air

  • The wealthiest guy I know
  • Trampolines, gyms and cold hard cash3

The skills you need to win

  • Sales
  • Communication and writing
  • 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 business

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 you
  • Aspects of a good cash flow model
  • Deal overview
  • Monthly Cash Flow Model
  • A walkthrough of my model
  • Where do you get a model specific to your industry?
  • Due Diligence
  • Due Diligence List

Appreciation

  • How appreciation works
  • 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 amplifier
  • Visualizing Leverage in Real Estate w/ Nick Huber
  • Refinance and Recaps
  • Deal Breakdown: My $2MM cash-out-refi
  • Debt Constant
  • Debt Constant Worksheet
  • Debt Yield
  • Debt Constant Table
  • Debt Constant / Debt Yield discussion
  • Debt Constant / Debt Yield Quiz
  • Debt Constant Quiz Review2
  • Quiz Review
  • Alternative financing method: securities backed line of credit

Test your knowledge - managing risk

  • Model Walkthrough - Stress Tests
  • Stress Tests - Excel.xlsx
  • Managing Risk - Quiz
  • Quiz Review1

Update

  • What do you think so far?1

The tax advantages of Real Estate

  • Depreciation / Bonus Depreciation
  • Basis, Bonus Depreciation, Recapture, Capital Gains
  • Interest Expense as a Deduction
  • Real Estate Professional Status
  • 1031 Exchange
  • 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

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

Investing with others as a Limited Partner

  • What questions should I ask?
  • New York Self Storage Investor Deck
  • New York Self Storage - Nick's Thoughts

Resources

  • Visualizing Leverage in Real Estate w/ Jack Butcher
  • Debt Leverage Worksheet

What's next in the Masterclass

  • What to expect
  • Who the Masterclass is for
  • Your $750 coupon to level up to the Masterclass