Nick Huber: How to Make Millions from Content Without Selling Ads

Episode 420: Sam Parr (@TheSamParr) speaks with entrepreneur Nick Huber (@sweatystartup) who made 7 figures selling a service company, now operates a successful self storage business and invests in many more. They talk about saving money by hiring people abroad, his many latest business ventures, and what keeps him motivated to build more companies. Want to see more MFM? Subscribe to the MFM YouTube channel here. ----- Links: * Support Shepherd * Marshall Haas Twitter * Shortzy * RE Cost Seg * Mark Jenney Twitter * Tax Credit Hunter * MainStreet * TitanRisk * WebRun * Sweaty Startup * Bolt Storage * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. * Want more insights like MFM? Check out Shaan's newsletter. ------ Show Notes: (07:20) - Shepherd (07:30) - Non-Advertising ways of making money on content (17:10) - Greatest regrets in life (21:30) - RE Cost Seg (34:25) - Building value via Instagram and YouTube (36:30) - Can Huber become a billionaire? (44:00) - What Sam is up to now (46:30) - What holds you back ----- Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. ----- Additional episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto * #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • ​​​​#218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Sam Parr?

  What do you, uh, I'm, I'm an investor of yours. So you're, um, I forget how much I invested, but you're like, well, I don't really invest in anything other than like, like total index funds and, but you're like one of the few, I think you're one of three things that I did. It's going great. I mean, I, I see the returns, uh, but how much do you have in total self-storage now, like a hundred million dollars or something?

• 0:25Nick Huber?

  I think last time I came on, it was 15 properties or so and 20 million dollars of the storage. And we now have 61 properties, uh, 1.8 million square feet of storage. Um, we've acquired it for a hundred and $3 million. We've raised $41 million from people like you who invested in Bolt Storage. It's been a whirlwind. The last two years have been crazy.

• 0:57Sam Parr?

  Would you say a hundred million dollars with the, that's how much you paid for it? I don't know how much it's worth.

• 1:02Nick Huber?

  I don't either. We could, we could guess. We could try to guess, but look, the real estate market has no mark to market, right? Because like Elon Musk, he can see how many shares of Tesla he has and the value of those shares. I have no idea. I mean, I can make educated guesses, but we sold our portfolio today. I don't know. Uh, six months ago, we might be able to sell it for 190 million or so.

• 1:22Sam Parr?

  Oh, that'd be awesome. We, um, I think the way I met you was, so, uh, you're, you know, it's kind of a creepy story. Years ago, I dated this Polish girl and I remember seeing your picture on Twitter and your, this is so weird. Your face reminded me of hers.

• 1:44Nick Huber?

  That's the best compliment. That's the best compliment I could get.

• 1:46Sam Parr?

  Are you Polish?

• 1:48Nick Huber?

  I'm German. Yeah, Huber. My, my, my mom is a gettelfinger. So yeah, we're very German.

• 1:53Sam Parr?

  I remember seeing your picture and I was like, oh my gosh, this guy looks Polish almost. And then I was driving cross-country and I did a Twitter Live or something like that. I forget what I did. And you like commented and I just called you on air or no, I called you on your phone. I just put it on speakerphone and we started talking and that, and that's how we, how we, how we met, I think, right?

• 2:14Nick Huber?

  Yeah. And now, now we know each other quite well. I think we've punched each other in the face. We've, uh, guarded each other and fouled each other in basketball. We have, uh, hung out at a couple of conferences and, and we talk several times a week. So I appreciate your friendship, man.

• 2:28Sam Parr?

  I appreciate you too. I, he told me that he was a decathlete and I was like, yeah, but you're not like, you're not good. And then I looked up his times. I was like, oh, he's better than I was. Uh, and then that's why I liked you even more. What was your 400 time? I think you ran 47.

• 2:45Nick Huber?

  Yeah, I opened 47. There's, you know, splits are crazy because your coach wants to tell you that you're running really fast splits to pump you up. But he told me I ran a 46, seven one time split.

• 2:54Sam Parr?

  I'd believe that. My, so my fastest opens were only in the 48 and 49s and my splits were 47. So you're probably a second faster than I was. But, um, and did for those, for, for the, like, you went hard on Twitter when we, when like COVID started. So there's like, we have this text message group. It's me, you, Sean, uh, Austin Reeve, Nikita Beer, Sahil Bloom, Greg Isenberg. Uh, I think that's everyone. Did I forget?

• 3:17Nick Huber?

  Yeah, you were, you were, you were an addition that came on about six months or a year after the group started. But you had some good, you've added some good, uh, great banter to it.

• 3:27Sam Parr?

  And like, but the reason the group started was you guys all went hard on Twitter around the same time and you like started sharing each other's stuff. You're the red boys. And then I remember you started doing that, but did of that $100 million that you've raised or $80 million that you raised, I forget how much. How much has come from Twitter? 40? You've raised 40?

• 3:44Nick Huber?

  Yeah.

• 3:44Sam Parr?

  How much has come from Twitter?

• 3:45Nick Huber?

  90, 96% of it has come from Twitter.

• 3:48Sam Parr?

  No way. Is that, is that real?

• 3:50Nick Huber?

  Yeah. My entire real estate private equity company was built on the back of Twitter. Yes. I had, we'd bought, built our first self storage facility. We raised 500 grand. My dad took a mortgage out on our house to do it. He didn't tell me that he did at the time because we were middle class and, um, I went around to his friends, basically, and he helped me raise the money for that first deal. Everybody says, you know, you're not self-made and that's my not self-made stories that my dad was the first investor in my first storage building. But, um, no, then we ran out of money and we had to buy our second, third, fourth and fifth properties with that, with our own cash from our store, from our stored company, our moving company. So then, you know, fast forward to Twitter, I'm tweeting about deals, I'm tweeting about some of our properties. And people are DMing me asking to get on our investor list and,

• 4:33Nick Huber?

  fast forward to today, we've raised 40 million bucks from 320 people and we have 2,000 people on our distribution list and it's changed my entire life.

• 4:42Sam Parr?

  What's, uh, 40 million divided by 300? What's the average check?

• 4:47Nick Huber?

  Ben can help us out. Maybe I don't have a calculator on me, but yeah, 50 grand people start. We have some investors up over a million bucks.

• 4:54Sam Parr?

  That's crazy. I wish I would have done a million dollars when I saw like the checks.

• 4:57Nick Huber?

  Yeah, that deal, that deal that you're in is going to be a really good deal. We refinanced it in a really crappy refi environment, but we're going to build some climate controlled storage on that property. And that was a deal that was really big and was uncomfortable, man. I mean, we bought a nine million dollars. Yeah, it was a big deal for us. That was our biggest deal so far. It was like hard for us to like, get the money together and raise the money for it. Nine million bucks. And then we bought another small property after that, another, you know, portfolio after that included all in the same one. Our basis is about 15 million. And I can, I got my spreadsheet up here.

• 5:30Sam Parr?

  You don't even know what that means. What's basis mean? That's how much you're in for?

• 5:33Nick Huber?

  Yeah, total cost, total cost.

• 5:36Sam Parr?

  But, but you're in for 20% of 15, right? Cause you only put 25% down?

• 5:42Nick Huber?

  Yeah, exactly right. So we, we put about 30% down. We have, you know,

• 5:48Nick Huber?

  12 million in debt because we refied it, refied out some cash. But now it's got a million dollars of net operating income and it's a, you know, 20, 20 million dollar plus property, which is great.

• 5:58Sam Parr?

  That's crazy. Yeah, I remember seeing that check. Well, what do you want to talk about today? I want to talk about all, all types of stuff. Dude, you, we have, can you talk about the shepherd thing that you're doing?

• 6:07Nick Huber?

  Yeah. So that company is a phenomenal company and, and I, it kind of can kick off our discussion because my goal, real estate's a little bit slow. The company's in a really good spot. I still spend a ton of time saying thumbs up, thumbs down to deals and thinking strategy and working on it. But I have a lot of time and I also have 30 million impressions a month on Twitter. And you know what that's like when you have a podcast like this and the distribution that you have. But yeah, my, my goal right now is to, is to build a portfolio of ownership chunks and great small companies, you know, sweaty startups.

• 6:42Sam Parr?

  And Austin, our friend Austin Reeve, who founded Morning Brew, he was supposed to come on today. And he had like a last minute board meeting. So Axel Springer, thanks a lot, the owner of Morning Brew. Thanks guys. But anyway, I was like, awesome. What should we talk about? And you and me and Austin were in a thing in a group chat. And he was like, let's talk about, because he knows that I hate advertising. And I like make fun of him. I used to make fun of him as like an enemy. Now I make fun of him as a friend and about how much he loves.

• 7:10Nick Huber?

  He makes fun of everybody, Sam.

• 7:12Sam Parr?

  Not really. Do I? I don't know.

• 7:15Nick Huber?

  It's good. It you just you just make jokes that are at people's expense and it's hilarious.

• 7:21Sam Parr?

  And sometimes they're funny. And and I was like, Austin, what uh what do you want to talk about? And he's like, let's talk about non ways or non advertising ways to monetize media followings. And you did it. So you did it. I don't know what your net worth would be or what like the the the value of your percentage of your thing would be, but you've done it to the tune of like a hundred million dollars of real estate. That's your non advertising way of monetizing your audience.

• 7:44Nick Huber?

  Yeah.

• 7:44Sam Parr?

  You're also doing it in like a bunch of, sorry, go ahead.

• 7:47Nick Huber?

  Yeah, my equity in that is maybe, you know, ten to twenty million. Yeah.

• 7:51Sam Parr?

  And and so that and then like you operate this successful business. So it's not like it's just because of Twitter, you know, you make smart decisions beyond that. But you are also doing it a few different ways. I'm actually a customer of your other business, which is a cost seg business. I almost use Shepherd, which I don't know if you are a part owner or if you're just an affiliate for, but you're doing it in a bunch of different ways. And I want to talk about the ways that you're monetizing in non ad ways of your audience.

• 8:17Nick Huber?

  Yeah. So Shepherd is the ideal story. I mean, it was late 2020, November, December. I wanted to hire somebody in the Philippines. I met Marshall Haas, who owns Support Shepherd, and I was his customer. I made a deposit for them to hire somebody, and my goal was to get somebody on the phone in my self storage facility that could, you know, press one to make a payment. You're going to go to this person and they're just going to process the payments for us, just some extra help doing very simple things. I gave them, actually, they built the job description. They got me three candidates ready to interview. I got on and interviewed them all in the course of an hour, and I was absolutely blown away and hired all three of the people. I'm like, this company is.

• 8:52Sam Parr?

  What was the rate per hour?

• 8:54Nick Huber?

  Five dollars an hour, eight hundred dollars a month to get these people to come and work for my service company.

• 8:58Sam Parr?

  And they're awesome.

• 8:59Nick Huber?

  Forward. Yeah, they were. They were incredible. Fast forward four hour, you know, four months later, I had fifteen of these people working inside of my company. And not only were they doing the simple stuff, but they were answering sales calls. They were guiding the logistics of a customer in a in one of my facilities, looking for a specific unit. They were just able to do exactly what our American reps do, except instead of paying sixty or seventy grand a year, they pay, we pay, you know? 10 grand a year. So it was a game changer. Now we have our whole finance departments in Colombia. Shepherd has helped us find those folks in Colombia. So the business blew my mind and I went to Marshall in 2022 or 2021, May, and said, hey, I want to be an affiliate of this company. Like, give me a cut of what I can bring in and I'll do some tweeting.

• 9:44Nick Huber?

  At that time, they were doing about 50 grand a month in revenue. Shepherd was. That's their net, that's the net of the net of payouts to the workers. No, that's like total revenue, total revenue for Shepherd. Okay. As a company, as that business, the one that like does the headhunting and finds the employees for American companies.

• 10:04Nick Huber?

  So they were doing, you know, 50 placements a month or less and they were growing fast. It was a good company. And I started tweeting and pissing off the woke mob and recommending Support Shepherd for like a 15% cut of revenue that I brought. Say what those tweets were. They're hilarious. I would say like, I'm going to weather this recession for one main reason. My, my employees all work for $5 an hour in the Philippines and they're absolutely incredible. And then it made me look like a complete idiot, but the woke mob would just blow these threads up, totally blow them up. We're talking to the tune of three to five million impressions. And so that really accelerated the growth of Shepherd. They were getting a ton of business as it was. They started growing like crazy.

• 10:45Nick Huber?

  Fast forward a year later and Shepherd had 7Xed. The size of that company had, had grown by 7, 7X. And how long? One year? One year. And it wasn't just because of me. It wasn't just because of me. It's because I started offering folks in Colombia. They started doing a ton of work and they, and they had like 51%.

• 11:00Nick Huber?

  But you're a part of the, you're a part of the puzzle. A big part of the puzzle to help it grow. So I went to Marshall and I was like, Marshall, this business is way too good. I'm not getting enough money. Like, I want to own part of Support Shepherd. And he's like, no way. Like, that's, that's, that's ridiculous. You're just, you're just an influencer. And I was like, well, man, I'm going to go start another company that does exactly this, or I could be. A partner of yours. And he was, and he's like, he's like, okay, you're right. Like, let's make a deal. And we negotiated an I own 15% of Shepherd. And you fast forward to.

• 11:34Sam Parr?

  And what's the deal? Like, you have to keep referring a certain amount of customers? And do you still get your payout? Affiliate payout?

• 11:39Nick Huber?

  No, the affiliate payout was canceled. I got 15% of profits. And he just trusted me that I was going to be motivated to continue to do what I do. And now, once a month, I just piss off the woke mob on Twitter. I send some newsletter ads. And I kind of sit on the board and do a little bit of ops things and recommend. But I mostly just drive those guys nuts when it comes to that.

• 11:58Sam Parr?

  Well, wait, I want, I want, I need you to redeem yourself really quick. Because you're like, you're like, I'm pissing people off. But the reality is, is that like, what's the salary? 10 grand a year is what to them?

• 12:11Nick Huber?

  Yeah, these people, me and my, one of my reps were talking the other day. And it's like, yeah, I bought a house, Nick. It's incredible. I bought a house in the Philippines. And I'm like, what are you talking about? And he's like, yeah, this is my home. It's a three bedroom house that I bought. And me and Dan talk all the time that our, that our employees in Colombia and the Philippines are, are just as wealthy as us. They have the same exact lifestyle as we do. Because, yeah, they get on a bus, they commute two hours, and they work for like, you know, $2 an hour over there with, with not the best conditions. And then they get to work for American companies, and it changes their lives. So the reality is that the woke mob has no idea what they're talking about. This is incredible opportunity for them and for us. And now, a lot of people are, you know, making that switch and getting employees over there, which is.

• 12:54Sam Parr?

  So, all right, I interrupted you because I wanted you to redeem yourself. But what were you saying about?

• 12:58Nick Huber?

  So you fast forward a year now, and another year of promoting and the business growing. And I think 51% of their, their business is repeat customers who want to come back for get, to get more, you know, help. But it's a multi-seven-figure profit business a year. I make 50 grand a month personally from my 15% ownership in Shepherd.

• 13:22Sam Parr?

  God, that's so funny. Dude, you would not have wanted to go and start a competitor to them, would you? That would, it sounds hard. It sounds like a hard business to operate.

• 13:30Nick Huber?

  It's really hard. They got 150 employees. I was mostly bluffing. I mean, it's a super hard business to start. They have a ton of really good talent and a ton of like, sales reps and like, the way that they do business is really difficult. They gotta go and recruit and interview all these people over there and vet them and grade their English and like, get all these people, these employees put, put in front of these business owners. So yeah, um, it was-

• 13:50Sam Parr?

  And Marshall's a pretty good entrepreneur. I like Marshall a lot. I mean, he's done like, eight different companies and a few of them have done really well.

• 13:57Nick Huber?

  Very good entrepreneur.

• 13:58Sam Parr?

  So yeah, that's hilarious. I can't believe you, you worked that out. I mean, I think that's a good deal. I've had, so I've had a few people, so I, there's this guy who did, this guy Diego, what's his website? Is it like, short Z? I think it's like, like, short clips? I'll have to find it. But anyway, he, uh, this dude DM'd me. He, I think he's, is he Cuban or, he's not from America. I forget what he is. But he, uh, he DMs me and I get these DMs all the time. Where they're like, I'm gonna make videos for you. You get those with like, I wanna, I'm like, dude, shut up.

• 14:31Nick Huber?

  I get three a day that people wanna write my newsletter for me.

• 14:34Sam Parr?

  Yeah, it's like, stuff like that all the time. And nine out of 10 of them, they're just like, really bad. They're not good at what they do. And this guy, he just kept DMing me and I was like, screw it, fine. Like, just make clips for me. Send me 10 of them. Like, I just said something stupid or something like that, just to like, get them off my back. And he like, within, before the night was over, he sent me like, 10 and they were pretty good. And I was like, uh, all right, well, I don't wanna post these. I'm gonna make you post it for me. I'm gonna give you my Instagram password. Um, send me a picture of your driver's license, your social security card. And he told me at one point, he looked at his girlfriend, he goes, send me your girlfriend's driver's license

• 15:16Sam Parr?

  too. And he sends me, and he sends me a picture of all of them. But I go, great, I know a lot about you. I'm gonna, I'm gonna, you know, we're gonna have an issue if you screw me. Here's my password to my Instagram.

• 15:29Sam Parr?

  Make it work. And he does, and he kills it. And I go from like a thousand followers to like 10,000 followers in a week. And then like up now to 50,000, he kills it.

• 15:38Nick Huber?

  How much do you pay him?

• 15:40Sam Parr?

  So get this. So I was like, all right, you're right. You're awesome. But here's the deal. You're going to do this for me for free for a long time. And in exchange, I'm going to tell all of my friends about you. And eventually, once you prove it to my friends, I'm going to tweet out that I think you're great. And he said, great. And so within a month of him messaging me, we got him up to like 20 grand a month or something like that. I forget, like a really good wage. And he's like, has this thriving business. And then I tweet him out and we send tons of customers to him. And so I also do the same thing where I take a small percentage of the profits. And I'm loving this, but I would rather have the profits rather than equity in the business. But I think.

• 16:21Nick Huber?

  You mean like a cut, a cut of revenue? You'd have a revenue, rather have a revenue share than equity slice? That's the mistake. Sahil, Sahil sent me a text yesterday and said, Nick, what's your three biggest regrets in life? And one of them is not going.

• 16:34Sam Parr?

  He asked you that question? What a weird question to ask.

• 16:37Nick Huber?

  He works on, he works on this dumbass content online. Who knows what he's going to tweet about?

• 16:41Sam Parr?

  Why is he asking you that? Okay, go ahead.

• 16:44Nick Huber?

  One of them was not going to Marshall a year earlier and getting equity instead of freaking a cut of profits.

• 16:52Nick Huber?

  Or a cut of revenue.

• 16:53Sam Parr?

  Yeah. Yeah, I just don't know if a clip agency is ever going to sell.

• 16:59Nick Huber?

  Yeah. I love agency. I love agency businesses.

• 17:03Sam Parr?

  And I don't want to like, give advice to people all the time. Do you know what I mean? I think it's different when you're with Marshall, because Marshall is like a very proven entrepreneur who has a couple exits under his, under his belt. But like, sometimes when I'm.

• 17:13Nick Huber?

  He doesn't want to listen. Yeah, they don't need or want me to get involved in their operations. Yeah.

• 17:17Sam Parr?

  Yeah, I'm like, dude, I don't want to like, I don't want to guide you. I just want to send you customers. And I like, I, sometimes I prefer transactional is what I mean.

• 17:26Nick Huber?

  Yeah.

• 17:26Sam Parr?

  So.

• 17:27Nick Huber?

  I love, I love leaning in. I love leaning into the ops. My business partner's an operational mastermind and, you know, yeah, I have three other companies that I'm working on launching right now. On a very same, very similar trajectory as Support Shepherd.

• 17:43Sam Parr?

  By the way, Diego's company, it's called Short. It's like a short clip. And then zy.co, short z.co. So short and then zy.co.

• 17:53Nick Huber?

  Yeah, man, you should own, you should own 25% of his company.

• 17:58Sam Parr?

  Yeah, I don't know. Maybe, maybe I will end up regretting that, but I'm, I'm happy with the deal. But we, uh, and so, uh, what were the other two regrets?

• 18:07Nick Huber?

  Oh, um, I don't know. Let me look. I think it was, um, go ahead and get married a little earlier and have kids a little earlier, even though I did it when I was almost 30. Um, and then

• 18:20Sam Parr?

  You, you weren't married until you're 30 or first kid?

• 18:22Nick Huber?

  I got married when I was 27 and I had my first kid at 29 and I kind of, if, if that was three years earlier, I would have been just as happy. But in general, I told them like,

• 18:31Sam Parr?

  So many, so many people I talked to say they wish they would have had their kids earlier, by the way. And I'm shocked that people say that.

• 18:37Nick Huber?

  Are you, are you excited to be a dad at some point? I know you and Sarah started to talk about it. Are you, what do you, what do you think about? How do you think that's going to change your life?

• 18:44Sam Parr?

  I'm pumped. I'm so pumped. I, I think that, um, A, I agree. I wish I would have done it earlier. Um, and I am so pumped. I think it's going to be life changing. I think I was talking to Sarah about this last night. I was like, so we've achieved a lot of like interesting things at a relatively young age, like professionally, like we're known in our field and like we have some respect amongst some peers. Financially, like we've achieved some things, um, like, and then we were like, parents say like, well, you're never ready. And I was thinking last night, I'm like, dude, I'm totally ready. Like what else do I need to do? This is like, it feels like the next step. So I'm incredibly ready and I don't really care about this, but I actually think it's going to turbocharge my career. Um, I think that like it's going

• 19:28Sam Parr?

  to make you feel like amped up. Like before it was, I was earning. So I don't know why I was earning, I was trying to make money for ego, egotistical reasons. And then after that, I was like, now I'm in the place where I make money because I do shit that's fun. And because of my fun hobbies, often the outcome is income. I pick and choose different things. Now I think it's going to feel like I want something for my children. I want to impress them. Um, I want to show them how to work hard. I think that there's going to be like a little bit of that. And it's also going to be like, I don't want to spend all of my time, uh, after like 6:00 PM working. And so I have to pick and choose my battles. And I think that's going to actually force focus and the outcome will be better financially. Am I wrong?

• 20:08Nick Huber?

  I think you are right on the money with your two things. There's two more. Number one is that you are going to get so much more emotionally mature.

• 20:17Nick Huber?

  When you have kids, at least for me, I was highs, lows, it just, it just puts stress in relative form. When you know you have a human that you have to care for and the stress level of when that human is sick, or when, when they scream, or when they cry, or when they hurt themselves, or when they suffer, that, that puts it all in perspective. So you just get like better at dealing with stress. The second thing is like, I got more focused and I was able to get more work done when I couldn't travel the world, I couldn't go play golf all the time, I couldn't just get on a plane and go be spontaneous and go spend two weeks in Europe. So instead, I would spend really good quality time with my family in my house and then pop to my computer to, you know, tinker inside of my business and make my business better. It's just more, I don't know, does that make sense?

• 21:02Sam Parr?

  Yeah, it totally makes sense. And I'm pumped. Well, you have three kids now?

• 21:05Nick Huber?

  Yeah, five, five, three and nine months.

• 21:08Sam Parr?

  Yeah, man, I'm, I'm, I'm pumped for it. And I think the, I don't care about this, but I think the outcome will be a better career because of children. That's, that's my prediction.

• 21:16Nick Huber?

  I think you're right.

• 21:18Sam Parr?

  I want to talk about the cost tag business because that thing, that seems like it's going even better than support shepherd. So I'm a customer, I used it, I got it for free though. So I am a customer and I, I'm using.

• 21:32Nick Huber?

  You did a video. So cost tag is, we have engineers who go in and they break out the different parts of a commercial property or an income property, a piece of real estate, and then they give you a schedule of which you can depreciate that to the IRS, meaning like.

• 21:46Sam Parr?

  Because normally it's what 27 years?

• 21:49Nick Huber?

  It's normally 27 years, straight line depreciation. They take it so that, oh, the windows, those are only a five year life. You know, the landscaping outside, that only has a five year life. Then you got all these ground improvements that we're going to make and all these other things that can be accelerated a little faster. So then there's something called bonus depreciation, we're going way in the weeds, you don't need to know that. Basically, our engineers come in the building, they draw a picture of the property, they split it out into different values and they give you a document that you can give to the IRS to get way more depreciation and save money year one.

• 22:16Sam Parr?

  So I haven't gotten my, I haven't gotten my report yet though, but let's just make believe on a million dollar property, that what's a million divided by 27 is what?

• 22:25Nick Huber?

  Yeah, you're gonna get 27,000, is it 27,000 dollars a year? Yeah.

• 22:30Sam Parr?

  Okay, and depreciation, duh.

• 22:32Nick Huber?

  2.2% maybe, something like that.

• 22:34Sam Parr?

  And then on with this, it would be what like 200 grand in year one?

• 22:40Nick Huber?

  Yeah, on a self storage facility is anywhere from 20 to 30% year one depreciation. An industrial property might be 10 to 20% and RV park might be 60, 70%. It just depends on how many ground, how much ground improvements you've done, like work to the outside of the property, landscaping, you know, windows, doors.

• 22:57Sam Parr?

  But then do you do, do I pay that, do I pay that tax back if I sell the property before 27 years?

• 23:03Nick Huber?

  Yeah, it's called recapture. So if you don't plan to hold the property for a while, then you need to keep some money because your basis drops, basically your taxable basis drops by the amount that you depreciate. So that gap is called recapture and you pay that at the recapture rate and stuff like that. So, yeah.

• 23:18Sam Parr?

  And where's your team doing this?

• 23:20Nick Huber?

  We have my, my friend, Mitchell Baldridge, who you know, his wife Mel, they are my partners. My business partner, Dan is minority owner as well. I own 45% of RE Costseg. And I mean, Mitchell, Mitchell had done 100 plus of these before we started this company. And he'd never really thought about, hey, uh, we can, we can find some engineers and do this stuff really well. We created a Twitter account, RE Costseg. We got really competitive pricing because instead of me flying somebody to your property in Texas, we did a FaceTime, you FaceTimed with one of our guys and he walked around, took some screenshots. What was that like?

• 23:58Sam Parr?

  My property manager did it and I was out there with her and I think she was on her phone. I wish she was on her phone and she said the guy sounded Italian. Are they in Italy or something?

• 24:10Nick Huber?

  They're all over. Yeah, we have some people in Miami, Florida is pretty popular, Colombia, Philippines. We've hired seven people from support through Support Shepherd for this company. It's which is another funny part about it. But yeah, we have 23, 23 employees. Mitchell's wife Mel, who spent eight years at KPMG or

• 24:30Sam Parr?

  Yeah, yeah, yeah.

• 24:30Nick Huber?

  One of the big, one of the big consulting firms. She was a management consultant. She's the CEO of the company. And yeah, we're nine months old and we did $250,000 of revenue last month.

• 24:40Sam Parr?

  Dude, that's crazy. And I remember like, so Jen, my PM, it took her like 20 or 30 minutes. And so my property is big. It's like 20 acres, but there's like a 4,000 square foot house. And then like a barn that has a gym. It's this for an Airbnb I have. And she like spent maybe 20 minutes walking around and he was like, what's that thing? And they're like, oh, that's like our water purifying system. And he was like, all right, cool. Let me see that. All right, cool. Show me all the windows.

• 25:08Nick Huber?

  Yeah, they look at like, okay, what can we depreciate faster? And they're like, show me this, show me that.

• 25:12Sam Parr?

  Yeah. And he, and she was like, we have two garage doors here. And he was like, all right, cool. Let me see that garage door. I forget what else it was, but like, like she was just walking around and he like had a checklist. But then also he would see stuff and like ask like, wait, let me see that water filtration system. Or like, you know, this, my property is out in the country. So we have like a well or something. And I think she, he was like, let me see the well. Like, like you're like wanting to see all this stuff. And I haven't gotten the report yet. I think we just get it, did it like 10 or seven days ago.

• 25:41Nick Huber?

  But yeah, that's the business.

• 25:43Sam Parr?

  And there's one other company in the space that's doing it that I almost went with. It was called Madison Spec.

• 25:50Nick Huber?

  Yep. Yeah. They'll, they'll fly somebody out to your property and they'll charge you twice as much to do a cost spec because they got to get somebody out there. So it's a win win scenario.

• 25:59Sam Parr?

  When I read about this, Mark Jenny, so we have this friend named Mark Jenny, who we've talked about the pod.

• 26:04Nick Huber?

  He's a badass.

• 26:05Sam Parr?

  Yeah, he's badass. He has like, I don't know, his portfolio is like mid eight figures of Airbnb's.

• 26:09Nick Huber?

  The Barstool guys rented one of his houses for Super Bowl week.

• 26:13Sam Parr?

  Dude, I saw the, so the Barstool guys is, are in Arizona, I think for, yeah. And I saw like the mini putt putt course in basketball. And I was like, I bet this is Mark's. And then you or someone else told us that it was Mark's. And he, I was, he's inspired me to get into Airbnb's. I was like, Mark, what should I read? And he like sent me some book and he told, and that's where I learned about accelerated depreciation. And I started Googling how to, how to do it. And I only found a couple of firms doing it. So I thought this was going to be like a niche business. I didn't think it was going to be like a big business. What, how big do you think this is going to get?

• 26:43Nick Huber?

  My prediction, and again, I try not to make predictions because then I just set expectations and end up getting, you know, stressed because of expectations and stress and that stuff. But yeah, I think. We'll do three to five million of revenue over the next 12 months.

• 26:57Sam Parr?

  And what about?

• 26:58Nick Huber?

  I think it'll become a, it'll become a, over the next five years, a 10 to 15 million dollar a year revenue business.

• 27:04Sam Parr?

  I don't, I mean, you don't have to set expectations, but I will, but I feel like that is undershooting it. I think it could be potentially bigger. I don't know how big the market is, but I bet you there's just so many other services that you can begin to offer, depending on how hard you want to work.

• 27:17Nick Huber?

  Yeah, we're, we're launching, so that's recosteg.com. We're launching taxcredithunter.com as well to do ERC credits and employee retention credits. Same partnership group, Mitchell, Mitchell and Mel. That's when you didn't, if you didn't lay off employees during COVID and you own a small business, you can get into employee retention tax credits back from the IRS. And you need Mitchell, you need Mitchell on to really talk about that stuff. I can't guide, but basically if you didn't fire your employees when COVID hit and you kept them on, the government is offering massive tax credits to your business and very few entrepreneurs know it. They expire in 2025. And yeah, it's, it's, it's significant. We're talking, the, the guys that we know who are running companies with 150 employees are looking at 100 to a million dollars in tax credits, 100,000 to a million.

• 28:02Sam Parr?

  There's a company called Main Street, Main Street.

• 28:05Nick Huber?

  They do the exact same thing.

• 28:06Sam Parr?

  I think Sean either invested or knows the guy who founded it named Doug and they were an advertiser with The Hustle. They're a good company, but what they did was, how much money did they raise? I think they raised, they did the exact same thing you're saying. They probably had like a tech play to it. I don't remember exactly, but they're still around. But I think they raised like two or 300 million dollars, like a, I forget the exact number, but like a huge amount. And I think they just recently laid off a ton of people, not because the business stinks, but I think they just like raised a ton of money and hired a ton of people. But I do think that that's proof that this, if I'm in your position and I'm like, oh, well, you guys have just validated the idea and concept. We're not going to raise money because we don't want to screw up our cap table, but I bet we can do this because we already have a little bit of money.

• 28:49Sam Parr?

  We already have an audience. Maybe we won't grow as fast, but we'll own the whole thing and do it our way.

• 28:54Nick Huber?

  And I think. Yeah, the audience is the key. I mean, the, the RE Costeg Twitter account, which I, I run and Mitchell runs. It's got thirteen, over thirteen thousand followers already.

• 29:05Sam Parr?

  No shit. What are you tweeting on there to make people follow it?

• 29:08Nick Huber?

  Um, just all about cost seg, all about real estate investors, client, client examples, anonymous client examples about how much money we save clients. It blows people's mind when they realize that real estate investors, you can make, I mean, I'm an example of this, you can make two, three million dollars a year from operating companies. And if you're a real estate professional and you buy property each year and you cost seg them and appreciate them, you can have zero tax liability, zero.

• 29:33Sam Parr?

  Yeah, but becoming a real estate professional is a pain in the butt. I try to do it. I try to do it and I, I was like, there's no way I can justify, like basically to, if I remember correctly, to become a real estate professional, you have to, uh, I forget exactly.

• 29:44Nick Huber?

  Seven hundred hours you have to spend, you have to be the person who spends the most time in the business. Yeah, there's, you, you need a good CPA to really like log your time and create a, a rock solid case.

• 29:54Sam Parr?

  And then you also have to, I think a certain, I think the majority of your income has to come from real estate, if I remember correctly, or you can't. Is there something where like the, where is it like you're outside, your, all your revenue streams can't add up to be more than your, uh, than your, uh, real estate income? Is it something like that? I thought that there was something where like you can't make too much money. Well, maybe I'm wrong, but I remember the seven hundred hours thing. I was like, there's no way I can qualify. I think you can get some advan, I think you can get some, I don't want to talk out of my ass here. I don't remember exactly, but I think if you do three hundred and sixty hours, you could, you can get some, uh.

• 30:28Nick Huber?

  In short-term rentals, short-term rentals, there's a loophole in it right now. We're doing a ton of cost tags on people who have short-term rentals because they don't have to be a real estate professional. They just have to spend more time on that rental property than anybody else. And there's some threads that Mitchell Baldridge has, and if you search it, if you search short-term rental on the RE cost seg account, you could read the thread. But yeah, it's a, there's a loophole around, uh, short-term rentals.

• 30:50Sam Parr?

  Well, that's sick dude. I think that potentially those businesses can be bigger than like your storage thing, but that's just, cause that's what I know is like internet businesses, but I think that actually could be pretty massive, right?

• 31:02Nick Huber?

  I think I am very bullish on what could happen. I'm excited. Yeah. And then I'm also buying a, I'm buying and rebranding a property and casualty insurance company.

• 31:11Sam Parr?

  What the hell is that?

• 31:12Nick Huber?

  They provide property insurance, like if you have a commercial piece of property, self-storage facility, or a multifamily unit, you need to get property insurance on it in case there's a tornado, or a fire, or somebody slips and falls outside.

• 31:25Sam Parr?

  Yeah, I mean, I have it at my Airbnb. I think, I think it's expensive. I'm pretty sure I pay five or six thousand a year. Does that sound right?

• 31:31Nick Huber?

  Yeah, that sounds right. We pay over four hundred thousand, or over three hundred fifty thousand dollars annually to ensure our self-storage portfolio. But it's also a pain to work with these insurance companies. Like, the brokerages operate like it's nineteen fifty. You have to.

• 31:44Sam Parr?

  Yeah, dude, I can't even like, I don't have like a login. I think I just have like a PDF that like they sent me. And then they sent me more questions that said like, hey, did you ever fix this handrail? Or something like that? And anyway, like, it's pretty antiquated. It's.

• 31:57Nick Huber?

  My business partner, we were working with a top ten firm in the country, brokerage firm, top ten. This is one of the biggest companies. And my business partner, Dan, had to go into that business and build a system for them to quickly get us quotes on properties and to bind our coverage. We can't pay online. Things move slow as hell. Nobody responds to us. So, yeah, we're buying an insurance company in Kansas City. We're rebranding it as Titan Risk. TitanRisk.com is the shout out. And we're gonna spin up a property and casualty insurance company on the back of, again, the, the following.

• 32:28Sam Parr?

  Your website's down, so you gotta, is it TitanRisk.com, you said?

• 32:33Nick Huber?

  Yeah.

• 32:34Sam Parr?

  All right.

• 32:34Nick Huber?

  Yeah, it'll be up soon. It'll be up, it'll be up by tomorrow, hopefully.

• 32:37Sam Parr?

  All right, good. I, I don't know. I think this episode might go live tomorrow, so you gotta get it up by then on Thursday. What, uh, what did you pay for that?

• 32:44Nick Huber?

  Um, the guy was doing, he, he, we found a guy who had a really good contract base with carriers. Because that's the key. Like, everybody goes to the same carriers, but you have to have contracts with those really good carriers. We found a guy in Kansas City who had that, and he was, I think he's doing million, million and a half of revenue inside of a shop. He's the producer. He has four back office. We're gonna hire folks through Shepherd and some Americans as well, account admins, and we're gonna lean on his shop at the beginning and kind of spin up a secondary brand. So. So, if I come on, if I come on in six months, I'd give you, I'd be able to share a ton, because this is in its infancy. But I'm more excited about this business than I am about RE Coste again, and, uh, type, tax, tax credit hunter.

• 33:31Sam Parr?

  Our software is the worst.

• 33:33Speaker 02

  Have you heard of HubSpot? See, most CRMs are a cobbled-together mess. But HubSpot is easy to adopt and actually looks gorgeous. I think I love our new CRM. Our software is the best. HubSpot, grow better.

• 33:46Sam Parr?

  I want to ask you about the fourth one, but for the first three, did you put up any capital for any of them?

• 33:52Nick Huber?

  Yeah, we funded a checking account for Ari Kostak. We put 50 grand in there and then the two months later, you know, we were making distributions.

• 34:00Sam Parr?

  That's nothing, right? I mean, that's nothing. And dude, that's crazy to me.

• 34:05Nick Huber?

  The great thing about hiring an employee, even if you hire a really good engineer for $100,000, you're only paying them $8,300 a month.

• 34:13Sam Parr?

  Do you have engineers for these companies?

• 34:16Nick Huber?

  Yeah, you need, we have civil engineers inside of Ari Kostak. So yeah, this is, this stuff's not easy, right? Mel Baldridge is a badass. Like she's managing 23 people. We're doing a ton of volume of sales, doing all these CAD drawings, breaking down these properties. Marshall's team is really badass. Like none of these companies are easy by any means.

• 34:34Sam Parr?

  Who's building the system? So like, and then not civil engineers, but I mean, like web.

• 34:39Nick Huber?

  Yeah, we're using Airtable as a CRM. We have a lot of out-of-the-pocket tech, but yeah, we're getting some web work done as well. And I'm starting a web, a web landing page, front-end development company as well called Webrun.com. But that's with another guy that's going to be spun up in the next month. So yeah, I mean, it's getting, it's getting fun.

• 34:59Sam Parr?

  I want to ask you about this last one and then I want to ask you more questions about all this stuff. I'm going to write my questions down because I don't want to interrupt you. What's this pest thing?

• 35:07Nick Huber?

  Oh, the pest control business? I have an LP, a good friend of mine who owns six branches of a pest control company. And he needs to, he needs capital to go buy additional properties. And he's got some capital, but not, you know, five or $10 million. And I said properties, I meant additional companies to latch on to his, to his business. But I might do a deal with him where I sit on the board and I advise operationally. I help them hire overseas talent through Support Shepherd and implement them inside the company. And then raise the money from my real estate investors to buy the business. But that's in its infancy as well. I need more time to really talk on that.

• 35:44Sam Parr?

  So about between two and six months ago, Sean and I on this pod talked about a few things. I told him I was like, basically like on Instagram, you have like Rihanna and the Kardashians. And then there's like thousands and thousands of more, but those two, those, the Kardashians and Rihanna are like two prominent examples of people who have built hundreds of millions or billions of dollars worth of net worth via Instagram.

• 36:14Sam Parr?

  On YouTube, we have Mr. Beast. He's like the common, he's the one everyone talks about. And then, you know, there's way more of people who have built like, there's the lady who started ipsy. I think it's called the makeup brand. There's just tons of them. On Facebook, you could say that like BuzzFeed and like a bunch of other people like, you know, built multi-billion dollar businesses on the backs of Facebook. Now, there hasn't really been one who's done it on Twitter. And Snapchat, same thing. We can think of a few more examples. The reason Twitter, maybe it hasn't worked is because I think people haven't taken it seriously. And also there's only like 350 million people on it as opposed to Instagram. There's like, what billions?

• 36:54Sam Parr?

  But I think that's changing and what we haven't seen yet is someone who has built like the equivalent of the Kardashians on Twitter. Except instead of selling makeup, I think they're going to be selling B2B or professional, whatever that is considered, you know, B2B services or something where it's like a higher end person, not a young woman buying like $12 makeup. And we haven't seen that yet. And then Sean was like, yeah. And then we have like the guy mafia. So you have people like the strip mall. It's like these anonymous accounts, like the strip mall guy, who I know who he is. I'm friends with him and he is a large business. And I don't know what it, what has come from Twitter, but he has a large business and then there's like five or six other guys. There's like the used car salesperson guy.

• 37:39Sam Parr?

  And he's like potentially going to build a large business and like, it's very predictable.

• 37:42Nick Huber?

  Luxury watch guy is selling shitloads of watches on Twitter.

• 37:45Sam Parr?

  Yeah, I almost bought a Rolex from him. He like had these date chests that I wanted. No one has done this to the extent of like hundreds of millions. I guess you kind of almost have already, but no one has done this to the extent that I think possible. You might be one of the first, or at least one of the people that I know closely, who might be one of these early people to build a multi-hundred million or even a billion dollar fortune, mostly because of your audience on Twitter. Do you think that's, that's accurate?

• 38:14Nick Huber?

  I think these companies are so, so in their infancy and it's really easy to get to 250 grand of revenue, but ask guys like Andrew Wilkinson, how hard it is to go from $250,000 a month to, you know, $250 million a year in revenue. Like those types of jumps is on another level, right? I don't know if I have what it takes to do things like that.

• 38:33Sam Parr?

  You're saying you don't think you, you, you have what it takes? How can you say that?

• 38:37Nick Huber?

  I'm gonna try. Hell yeah, I'm gonna try.

• 38:39Sam Parr?

  But like, how much harder can it be than what you're doing now, but you give it 10 or 15 years to mature?

• 38:45Nick Huber?

  I don't know. I think what Austin Reeve does at Morning Brew, like managing these bigger companies is just a different skill set. It's different.

• 38:51Sam Parr?

  But you're not doing it.

• 38:53Nick Huber?

  But I'd have to to become a billionaire, wouldn't I?

• 38:56Sam Parr?

  I don't know, because dude, it's kind of like, you're like the Ryan Reynolds of Twitter a little bit. You know what I mean? Like, he's got Mint Mobile. He has the soccer team that he partakes in. He's got, uh, I don't, the, the alcohol drink that he has. Uh, I think he has a few more. I, I mean, that guy's not operating those companies. Conor McGregor's not operating the whiskey thing, but like-

• 39:16Nick Huber?

  And I can't operate, frankly, I can't operate my companies either. I'm focused on my real estate and everything else. Yeah.

• 39:21Sam Parr?

  And so my point being is if you're just, if you have 10 to 20 or 30% of a handful of things, one of them could hit. There's this guy named Felix Dennis. Have you ever read, uh, this awesome book called How to Get Rich?

• 39:34Nick Huber?

  I love that book. Yeah.

• 39:35Sam Parr?

  I love that book. I recommend that book to everyone. It's horribly titled, but it's the best book I've ever read on wealth creation.

• 39:40Nick Huber?

  You should have equity in that book, Sam.

• 39:43Sam Parr?

  Dude, whenever we mention in the pod, well, notice the next day it goes up the charts like a ton. And well, he's dead now, but he built like a publishing empire. That was like, it made him a lot of money. But the bulk of his wealth was he owned 10 or 20% of this thing called Micro Warehouse, which went public for multi billions. And he made many, many hundreds of millions from it. And he had the same thing where he was like, look, I own the magazines that I'm going to promote you guys in there for free. And I'm also going to be like an advisor, but I'm going to be considered a co-founder, and this was my idea, and I hired you guys. But he didn't manage the company. He met with the with the other founders a lot, and he gave his opinion. But he wasn't like running the day to day thing. I don't see why you couldn't do that with a few more things.

• 40:23Nick Huber?

  I think the, you know, the power of blowing up a brand is one thing. The power of spotting and reading and hiring and delegating to really good operators is something is another thing as well. That's underrated and something that I'm think that I'm good at. Finding people who really think about business the right way. And to build these companies, I can't operate them. I'm an investor, I'm an advisor, and I pump their stuff on Twitter, and I'm a customer. And I, you know, help. But you got to find somebody who really is really good at running a company. And that's where I wish I I made a joke on Twitter that offended a couple of my good friends, a couple of days ago that said, like, I need to do more angel investing, so that I can invest in these companies. I can see how

• 41:05Nick Huber?

  these founders think about business and how they make decisions and how they write their updates and how they fight through. And I can get a look into their brain. And I can spot the killers, right? I can find those those guys that are just really good at business. And then I can pull them aside when they give up. And I made a statement like, the hell, you know, when they want to leave the hellscape that is venture capital. That's not true. It was, it was, it was just not cool for me to say that about my buddies who had so much value to the world in that space. But anyway.

• 41:34Sam Parr?

  And you're joking.

• 41:35Nick Huber?

  I was, I was half joking, half being serious, because I want to pull these people away and basically found and start and buy businesses that I think that they could come in and run great businesses that are ran like crap, and just accelerate their growth and make them better.

• 41:50Sam Parr?

  Dude, Austin Reeve is an amazing operator. And I remember when I first met him, I was probably 28 or 29 or 30. And he's younger than me. He's four years younger than me. And I was like, you're the first person, you're one of the very few people who's like my peer, but younger than me, who I'm I'm a little intimidated by I'm like you you I I remember telling him I was like dude I'm a lot better than you at a few things. You are so much better than me at a few other things and I wish I would have met you earlier.

• 42:22Nick Huber?

  Listening to the way that he thinks about business problems and the way that he talks through them and the way that he paints a story in a clear and concise way when you're asking him about his business is that's what I'm talking about like that's the 10xer. Austin is the 10xer. He's 100x. He's on another level. But like when you're around a lot of these people and you talk to them, you start asking questions and hearing the way they think about business. You can do it too. Like you can just tell. You can tell when somebody's different, when somebody's really got it. You know what I mean?

• 42:48Sam Parr?

  Dude, he's the best, but I would also say like Andrew Wilkinson is a great friend of mine. I don't know what his empire is worth, but in the 500 to a billion range, depending on public markets. He, uh, when I talk to him, I don't feel like I'm like, Andrew, I don't feel you're out of my league. You've just been doing it for longer and you are really creative and you were the first person. You were you were bolder and smarter than than me to like believe that this could actually become a thing and you did the thing. And then you did it for years and years and you didn't give up and you never bowed down. You always did it your way. But in terms of like your vision and my vision, you know, my vision now that I see you could do it. I'm like, I don't think you're ball. I think we're in the same ballpark of like intellect.

• 43:34Sam Parr?

  Um, and so that's why when I see him, I'm like, dude, you're inspiring to me because I kind of feel like we're almost the same, although the results are not the same. And I find that to be very inspirational and that's kind of the same for you. Maybe like you look at a guy like him and be like, oh, man.

• 43:47Nick Huber?

  Andrew is my idol. Yeah, I mean, that man understands leverage and delegation. Unlike anybody that I've ever met, right? He can find somebody. He can he can. His his brain is so good at analyzing the pros and the cons of making a bet. He does business like a poker player, right? When the odds are in his favor, he's going to go big. And he's just proven that he can make those bets better than anybody else. He'd find those excellent operators. And I think he's an undercover killer too. I mean, I know that he comes off really humble, but the dude is.

• 44:13Sam Parr?

  I think he's a killer too. He's a killer and anyone who's that successful is not not a killer.

• 44:18Nick Huber?

  Uh, you're right.

• 44:19Sam Parr?

  He and he does a good job because he like is a I always tease him. I'm like, dude, you always dress so nice and you have slicked back hair like you like have this like designer like uh look to you, but like you're like quit acting like you're like uh not a killer because you definitely are.

• 44:35Nick Huber?

  He's got it.

• 44:35Sam Parr?

  Why? What do you? What do you do with your bunny? Do you? What do you invest in?

• 44:39Nick Huber?

  Well, in real estate, I'm not that liquid, right? I haven't sold a company. I haven't sold any properties. So I personally guarantee, you know, fifty million dollars plus of debt, and I only have three point six million dollars liquid. So I'd be foolish to start spending that on houses, cars and boats, right? So I keep a lot of cash, about a million in cash. I keep another, another two and a half million in public equities that I can create.

• 45:03Sam Parr?

  Are you trading? Are you trading?

• 45:05Nick Huber?

  No, I buy, I buy, buy stocks and hold them for a long time. I'm way too dumb to try to guess what's gonna happen inside of them.

• 45:10Sam Parr?

  But you didn't used to be that way.

• 45:12Nick Huber?

  I bought some dumb, we talk about our friend Austin Reeve, I bought some dumb stocks that I then sold six months later for a big loss, absolutely. But I'm not trying to day trade in time markets.

• 45:23Sam Parr?

  Austin told us all that, that Zillow was like the buy. He was like, and I didn't buy it, but I, it was a fair argument.

• 45:32Nick Huber?

  Oh, we bought it at a hundred and fifty bucks. It went up to two hundred and I was getting texts from Austin that the, that, you know, let's, let's go. This is incredible. Now it's thirty bucks or something.

• 45:41Nick Huber?

  But no, I mean, Google and Facebook and Microsoft and Apple, all the best companies in the world all got fifty percent cheaper. So I bought a lot of those and I'm gonna hold them for five years and I'm sure that I'll do fine.

• 45:51Sam Parr?

  What's motivating you right now?

• 45:53Nick Huber?

  I just think it's fun. I mean, the building, the building is really fun. Is that what you, I mean, I want to talk about you now too, Sam, because you're, your earn out's over. How many years post-exit? Are you four years out?

• 46:03Sam Parr?

  No, dude, two.

• 46:04Nick Huber?

  Two, two years. Okay, never mind.

• 46:07Nick Huber?

  Yeah, I mean, you build something, you sell something, you have that event, and then when it's over, you're like,

• 46:13Nick Huber?

  well shit, I kind of, I love, I love building. I love tinkering. I love entrepreneurship and business.

• 46:17Sam Parr?

  I needed, so I gave myself one year to, I basically wrote the rules where I was like, I'm gonna read anything that interests me, whether that's, so I read a lot of fiction and I read, I don't read business books anymore. And then I also said, I'm just gonna search. I'm just gonna search. So I'm just gonna plot and search and just whatever interests me, I'm just gonna pursue it. You know, I was like, I was like, I'm just gonna, a dog on a walk, follow in my nose and I'm not gonna like feel guilty about that. And I noticed that after about six months, I was ready to roll again. I made some mistake, I made some irreversible decisions at my company, like some culture decisions. Basically, when I started the company, I was twenty five and then when I about sold it, I was about thirty and like I was a different person. And I'm more solid on who I am now, so I would have different values when I start my next things.

• 47:00Sam Parr?

  But anyway, I made some mistakes, so I basically kind of had to sell the company or in order to like get out. And so I was pumped about it. But at the same time, I was like, I wish I was wealth. I wish I was, I wasn't wealthy when I started a business. I had nothing. I was like, I wish I was wealthy, so I didn't have to sell this to get liquidity. Because I would have liked to have owned it forever, but I was very, very, very happy to get that time to relax and to seek. And then after about six months, I was like, dude, I need action. I need to gamble. I felt, I remember watching a James Bond movie and I'm like, should I become a cop? Like, I need to go out and like get into trouble. Like, I need to experience like.

• 47:38Nick Huber?

  It's the certainty, I think. It's like, it's the, it's making a decision where you don't know what the answer is gonna be. And then waiting and seeing what happens. That is just incredibly addicting about entrepreneurship and business.

• 47:49Sam Parr?

  Dude, I just like, like being a shithead with my friends. I love our group chat. Like, when it gets spicy, I like think about it all the time. Like, it's so funny. And I'm like, I gotta go do something now to one up the, the guys here. And that's how I feel. So like my, my best, the time I have that I love the best when it comes to work is when I'm with like my partner, Joe, or someone like that. And we're like, we can't pull this off, can we? Ah, fuck, let's go try it. Like that, that adrenaline, that's like my version of like James Bond. When I'm watching him, like having like a car chase, I'm like, dude, let's, this is our, this is our nerdy version of a car chase. I need that thrill. And it just so happens that the outcome typically is money. And so that's what I'm motivated by is like the thrill. Uh, I don't give a shit about legacy.

• 48:33Sam Parr?

  When people talk about legacy, I'm like, I don't give a shit, dude. I'm gonna, I'm like, imagine the feeling that you had when you, before you were born. That's what I think I'm gonna have when I'm dead. Why do I care what people think about me? You know, I wanna like leave something to my children because I love them. But like, I don't give a fuck about what everyone else thinks. I don't care about legacy. I just wanna have fun and like have excitement in the moment. And that's what I'm motivated by.

• 48:55Nick Huber?

  Yeah, making these, making these business deals and these business decisions and these, and these calculated bets, we'll call them like, been with you and, and all these things I'm working on, they're just calculated bets. And when you, when you put the money in, you just never know what's gonna happen. You never know what's gonna happen when you try to sell it, when you start to get customers, when you start to solve problems. And it's, it's addicting for sure.

• 49:15Sam Parr?

  By the way, well, we can keep this on, but Producer Ben, we have to bleep out the name of what he just said. I haven't denounced that yet.

• 49:22Nick Huber?

  Ah, but can we talk about it?

• 49:24Sam Parr?

  Can we? Yeah, yeah, yeah. We can't say what it is, but we can, we can, we can mention I have a thing that I'm going to be announcing in a month. I'm gonna, my new thing. Nick just said the name of it. We gotta bleep that out. I'll be announcing it in one month. I've been doing that low key for two reasons. One, I wanted to prove that I can do it without my audience. And two, I wanted to make sure that it worked and was life-changing. It's a wonderful product before I like get like an influx. But I'm gonna announce that in a month. What else do we want to talk about? Anything else? I mean.

• 49:56Nick Huber?

  I mean, I've been thinking a little bit about like what holds people back and anxiety and the decision-making that like the hardest thing.

• 50:05Sam Parr?

  Anxiety?

• 50:06Nick Huber?

  No, I just mean like the uncertainty, like the fear of failure. Like it's, it's in everybody. Not, not that, I guess anxiety is a, is a bad term. More like insecurity, right? I have insecurity and the, and it holds me back from making big decisions. And the problem with it is, is the more insecure you are, the less decisions you make. And decision-making is like something that you have to practice to get really good at. If you don't make big decisions with a lot on the line, you have to, you're never going to get better at it, ever going to get better at it. So then you have unmade decisions and that equals stress because stress is a decision that hasn't yet been made. And then it just cycles and snowballs. So people who are, they have insecurity, they have anxiety around making decisions.

• 50:46Nick Huber?

  Then they get stressed out because they have to do these decisions and it's just a big compounding snowball of, of like, it just holds people back from kicking so much ass. Like every high performer that I know, they, they make a ton of decisions. They make some of them wrong. They lose some money. Like there's downside, of course, but they just make them and make them and make them and they make them quick. And they get better at it, better at it, better at it. And that's when the leverage kicks in and they can just build and grow and build and grow.

• 51:09Sam Parr?

  My parents, when I was a younger kid, I would like sell CDs or like sell used stuff on eBay. And I remember making mistakes and they're like, oh, that's all right. You can't get a hit unless you're in the game. And they're like, you're swinging your miss, but you know, you gotta, you gotta swing to get the hit and you can't get hit unless you're in the game. I remember hearing that and that like changed my life. And so now whenever I screw up, I'm like, ah, whatever. Like, you know, a 300 batting average in baseball is great. So I'm like, that's all I need. Like that in business is fine. In fact, in business, you actually need less. If you try a hundred times and one thing works, it makes up for all the 99 things. But that's what I always tell people. I'm like, dude, you gotta, you gotta, you can't get a hit unless you're in the game.

• 51:48Nick Huber?

  I've been asking high performers this because now I have a five year old. I'm thinking about what I can do for my kids to help them just get better at making decisions and get, you know, more, a more solid foundation, a more solid foundation in the event of insecurity. Did your parents just like let you struggle a little bit? Like, that's something that I've found is very common among entrepreneurs and successful people. Because so many parents nowadays, they really mess up because they like shelter their kids from all decision making. They like make the decisions for the kids. They like, they, they keep them from getting in any pain at all. They're gonna keep them from having to deal with the uncomfort of pain. They're gonna put them in a bubble. And I look back on my parents and my, my parents would like, they would make me make the little decisions when I was a kid so that I got better at making the decisions.

• 52:31Nick Huber?

  And then when they were bigger, I wasn't overwhelmed with fear and insecurity.

• 52:36Sam Parr?

  I was always skateboarding and rollerblading and going to skate parks. And I remember I had a unicycle and I would try to ride it downstairs and they were like, I was crazy. I was like do all this crazy stuff. I remember when I was in fourth grade, I could ride a unicycle and juggle. And I would do all this crazy like skateboarding shit. And they would be like, uh, hey, let's go to the skate park. But the only rules they had was you have to wear a helmet. They go, as long as you wear a helmet, we don't care. And so I was in and out of the hospital, broken, broken, broken fingers, stitches on my eye, broke my arm, broke my collarbone. I've had a lot of broken bones. And they were, I always say, my parents, they, once I left school, I wasn't financially, like they didn't, they've never like helped me with a business or anything, but they supported me up until then.

• 53:18Sam Parr?

  And so I had that, but they were emotionally supportive. So I remember when I left school and moved out to San Francisco and told them I was gonna join this thing called Airbnb. They were like, this sounds like a multi-level marketing thing. Like, is this like, and I was like, no, guys, like, it's like, I think it's legit. Like, at the time, I was like, two or 300 people worked there. It's legit. And they're like, you're gonna leave school to go do this? And I was like, yeah, it's legit. And they're like, that sounds horrible. But, you know, we'll see you Saturday. We'll come down there and help you move out. And so like, they did things like that, that were like, very emotionally supportive. And so, and that was like, huge. And so a lot of my friends who don't take risks, oftentimes, their parents

• 53:59Sam Parr?

  were quite neurotic. And they, instead of saying, why, instead of saying, like, of course, this can work, they would default to saying, like, well, this will never work because of this, this, and this, or like, you can't go study abroad, like, Mexico is dangerous. Haven't you seen that there's like shootings? Or, you know, like, people get sick when they do this and that. Like, I remember, like, that was usually the default versus like, screw it, we'll handle it when we get there.

• 54:24Nick Huber?

  Yeah, putting your kids in a bubble. And now that I have a five-year-old, like, it sucks to watch him struggle. And I have a bunch of employees, and it sucks to watch, I don't know, there's, there's a lot of similarities between, like, raising.

• 54:35Sam Parr?

  You let your kid get hurt, though? Like, let's say your kid's riding a bike, and he's wearing a helmet, and you're like, dude, he's 100% about to knock his teeth out.

• 54:41Nick Huber?

  If he's about to hurt himself bad, and I'm gonna go to the emergency room, obviously, I'm gonna run and try to catch him. But if he's over on the other side of the cul-de-sac, and he hits a curb, and he falls down, and he starts screaming, I'm not gonna sprint over there and pick him up and coddle him. Does that make sense? Like, I'm gonna, I'm gonna let him, I'm gonna let him figure that crap out. But I just think it bleeds over into everything. Like, if you, if an employee walks into your office, and they have a problem, and you just say, get out of my way, I'm gonna solve that problem, then that enables, that enables them to, A, it doesn't let them learn how to solve problems on their own, and B, it enables them to bring you more and more problems, and just be completely unable to, like, get shit done without you as a boss.

• 55:20Sam Parr?

  Um, do you, uh, Ben just texted me and he wanted, he wanted me to ask you, you, you have all three boys, right?

• 55:27Nick Huber?

  I have a five-year-old boy, three-year-old boy, two, uh, all right, 10-month-old girl.

• 55:34Sam Parr?

  Are you gonna raise her the same way? I would imagine yes, right?

• 55:38Nick Huber?

  Oh, man, I don't know. I don't know if I will. Yeah, you got it.

• 55:43Sam Parr?

  If I have a daughter, I mean, this is my, I'm hypothetical, you're living it, but I think I would definitely, you gotta do it the same way, right?

• 55:50Nick Huber?

  Oh, yeah, I'm gonna, I'm gonna raise a strong, secure daughter, for sure. Like, A, I'm gonna show her that I'm gonna treat her mother with a ton of respect, and that her mother should never take shit from me just because I'm a man, right? That's, that's something like, you cripple women in the long run, if you like, enable, or like, lead them to be insecure. I'm gonna try to raise like, a really strong, confident, secure girl who can, yeah, knows how to struggle with grace, absolutely. So, when she falls down on her bike, not gonna run over there either, I guess.

• 56:18Sam Parr?

  Well, good, dude, I'm happy you came on, I like talking to you. By the way, we do this thing on, on, on our YouTube channel, I'm gonna do it now, I was supposed to do it earlier on, we talk about the gentleman's agreement, have you heard me say this?

• 56:30Nick Huber?

  I have not, damn, you're catching me totally blind.

• 56:32Sam Parr?

  So, we, we've been growing our YouTube subscribers, uh, I think last month we grew by 20,000. And the pitch was this, which I stole it from this guy named Jesse on Fire, so I'm, I'm not gonna act like I came up with it. But it was, uh, we guilted people a little bit, we said, hey, hold on, hold on, I normally say this in the beginning, I forgot they do today, go, hold on, unlike everything else on YouTube, our content is not for free, we actually work for you, and the way that you pay us back, it's kinda like when you go up and buy, uh, you go up to 7-Eleven and you see like, a jar for the muscle dish fee, and you take a piece of candy and you leave a quarter, or you leave a dollar, that's what this YouTube channel is, except, instead of the dollar, all you gotta do is click like and subscribe on, on our little channel, and we work for you.

• 57:15Sam Parr?

  And so, our content's not free, you have to subscribe if you watch more than one video, and it's called the gentleman's agreement, because we're not there, it's a handshake. So, anyway, that is the gentleman's agreement, so you do have to subscribe to our channel. But dude, that pitch changed everything. Immediately, we started close, seeing close to a thousand people a day clicking subscribe, so it's, it's working. So, you gotta have like, a unique way of asking for it, and it's worked. And so now, we have all types of people coming up to us, I had, I was riding my, I was on a walk yesterday, and a guy drove by and goes, hey, I honored the gentleman's agreement.

• 57:47Sam Parr?

  I swear to God, in Austin, I had two people last week say that to me. So anyway, that's our gentleman's agreement. So if you're listening, if you've ever listened to more than one episode, this is the gentleman's agreement. It's an honor system. You have to do it. And we can't check this on you, but please do it. Everyone's doing it, apparently, if we're growing almost 1,000 a day. But Nick, I appreciate you. You're, um, you, uh, what's the, um, what's the promote, uh, it's a, so Support Shepherds, the shepherd thing.

• 58:13Nick Huber?

  Yeah, supportshepherd.com, sweatystartup.com, boltstorage.com, supportshepherd.com, recosteg.com, taxcredithunter.com, webrun.com, titanrisk.com.

• 58:24Sam Parr?

  And sweatystartup on Twitter.

• 58:28Nick Huber?

  No, I mean, I really appreciate this. I mean, you bring me on here. I hope your audience got something from this because the value that this will add to me is, is phenomenal, man. You've always been incredibly supportive. I remember I was trying to launch a little community around real estate and you got on a call when you were busy as hell and I wasn't that big of a deal. And you helped me set that whole thing up. I mean, the generosity, Sam, is fricking awesome.

• 58:51Sam Parr?

  Well, I appreciate that. And now, uh, maybe one day I'm gonna ask to be an affiliate of your affiliate or something like that.

• 58:57Nick Huber?

  Anything you need, anything you need, man. Let me know.

• 59:01Sam Parr?

  All right. I appreciate you. Thank you very much. That's it. That's the pod.