Nick's Real Estate Starter Class
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Introduction

Who is this for?
How is this different from the Master Class?
How do real estate investors get really wealthy?
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 in
Legal Disclaimer
Real Estate 101

State of the market - June 2022
Almighty Metric #1 - Net Operating Income
Almighty Metric #2 - Cap Rate
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 cash
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 Review
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 Review
Update

What do you think so far?
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

The skills you need to win

4 Lessons