Author: Nick

Houses in my town aren’t selling. As a matter of fact houses aren’t selling virtually anywhere. Mortgage applications were down 90% year-over-year. Self storage brokers aren’t able to sell most listings right now. Developers are going pencils-down on anything they aren’t pot committed to right now. I’m hearing the same lock-up news from virtually every real estate […]

I attended RE-convene in Los Angeles in September hosted by Moses Kagan. 280 real estate investors were in attendance. And we’re not talking about your local realtor or mortgage banker – we’re talking about folks with $100m real estate portfolios who are deep in the business of managing risk and acquiring real estate. A quick sponsored […]

A career is like a series of games.​Assess what games are wroth playing with a series of questions – outlined below. A quick sponsored note before we dive in: As you know, we’ve got 18 employees working at our self storage management company who live in the Philippines. We sourced and hired all of them […]

The real estate market is in a period of price discovery. What does that mean? Nobody knows what to pay and sellers aren’t willing to meet the market. If real estate was a liquid stock that could be bought and sold at a moment’s notice, it would be in free fall. The most common question […]

The self storage acquisitions market is tough, but the properties we own are performing well. Last week we closed a refinance on one of our earliest (and toughest) deals – a 3 property portfolio in western Pennsylvania. We acquired the 25,090 square foot portfolio at public auction in October of 2019 for $635,000 and it […]

Its a tale as old as time. A real estate investor makes their first real taste of money. They sponsored a deal and either sold it or refinanced it and made a million bucks. Maybe more. Maybe their net worth is suddenly $5 or $10 million and they are still young, energetic and hungry for […]

The stock market is selling off in a major way. The fed told us last Wednesday they’re not going to stop until there is serious pain from an employment and housing perspective in 2023. I attended RE-convene in Los Angeles last Wed-Fri hosted by Moses Kagan. 280 real estate investors were in attendance. And we’re not […]

The real estate market sucks right now. Rates aren’t going down in the near term. Cap rates haven’t fallen enough to make buying make sense. I’m bored shitless looking at crappy deal after crappy deal. Its gotten to the point where I no longer get excited when my favorite brokers email me. What is a […]

I write often about money and how to make more of it. But what about being happy, healthy, a father, a husband, a friend? In this email I talk about sucking at one of those things and how I’ve dealt with it. If you’d rather listen in podcast format, click here. Five months ago, the day […]

In this email, we’re going to unpack one of the most important metrics you’ll find in real estate: NOI. NOI stands for NET OPERATING INCOME — and you’ll use this measure throughout your career, so you better get familiar with it. The podcast episode last week about my trip to Raleigh to get together with a group of entrepreneurs was […]