Nick's Burner Account

The burner account of @sweatystartup

[Nick's Burner Account @wealthtakestime]

Getting truly wealthy takes 3 things:

Knowledge, capital and time.

You only start with one, but the other two can be acquired.

[Nick's Burner Account @wealthtakestime]

Every time I see an iPad at a checkout counter I realize I’m about to tip for something I’ve never tipped for in my life.

[Nick's Burner Account @wealthtakestime]

After the age of 30 you have nobody to blame for your problems but YOU.

[Nick's Burner Account @wealthtakestime]

I've spoken to a lot of real estate owners / operators / buyers in the past 3 months.

MANY of them have their head in the sand.

I ask them a few questions about the future if rates stay here or go up. Can tell they haven't stopped working 70 hrs a week to think about it.

[Nick's Burner Account @wealthtakestime]

@stillwell I only see one beard. Unacceptable.

[Nick's Burner Account @wealthtakestime]

Building a sustainable real estate company involves having access to three things no matter what environment:

-Dealflow
-Bank debt
-LP capital

At least 1 of them is always hard to find or everybody would do this.

[Nick's Burner Account @wealthtakestime]

@abakermont I enjoyed reading your tweets and hope to run into you at re-convene this year. Wish you the best!

-Nick

[Nick's Burner Account @wealthtakestime]

@fortworthchris @JohnPetersonFW I always thought this game was pure luck. There is skill? Tell us!

[Nick's Burner Account @wealthtakestime]

What if i told you that you didn’t need a college degree to get a job at Tesla, you’d be making $175k a year, and you’d have virtually no competition for the job in the first place?

Would you believe me?

It exists…

All you have to do is become a welder.

[Nick's Burner Account @wealthtakestime]

As an entrepreneur you can do a good job managing and staving off the normal stress / anxiety of business for a long time.

And then it’ll all catch up with you at once and you’ll crack.

Normal.

Be easy on yourself and those around you!

[Nick's Burner Account @wealthtakestime]

@fortworthchris @Nextdoor Second behind Reddit as the community with the most hatred for other humans

[Nick's Burner Account @wealthtakestime]

@mu2myoc I would much rather use my own draft.

We try to get all business points ironed out in LOI.

[Nick's Burner Account @wealthtakestime]

Buying that first property is always scary af.

Way more reasons not to do it.

Way more people telling you why it might not work, what to watch out for and why the deal isn’t worth doing.

[Nick's Burner Account @wealthtakestime]

@MattLasky I don’t think understanding IRR is a prerequisite of doing good real estate deals.

Arguably a distraction honestly.

[Nick's Burner Account @wealthtakestime]

@sweatystartup The people saying just rent a bag of clubs and go obviously don’t understand the game of golf.

This is not proper etiquette and would be extremely rude to show up not even knowing how to strike the ball, keep up or walk around the green.

[Nick's Burner Account @wealthtakestime]

@Ariel_J_ @mu2myoc @Cribdilla You’re not missing something.

Trent made perfect sense.

[Nick's Burner Account @wealthtakestime]

@mu2myoc Cap rates are literally the most subjective figure in all of real estate.

Ask the brokers who throw out numbers on their OMs 😂

[Nick's Burner Account @wealthtakestime]

@gabebodhi @mu2myoc I don’t think Trent’s take was wrong.

A ton of nuance around cap rates.

They’re different for everyone. They don’t tell you anything about risk or the future.

[Nick's Burner Account @wealthtakestime]

@businessbarista 99% of new, groundbreaking ideas.

Over half the growth companies that even actually go public will never make a profit.

Brutally hard businesses.

[Nick's Burner Account @wealthtakestime]

Non-expert advice on twitter is a feature, not a bug.

I’d rather hear from a critical thinker without an agenda that most experts.

With expertise comes bias and self-serving agenda.

[Nick's Burner Account @wealthtakestime]

@mu2myoc I’ll gladly read the words of a non expert who thinks critically and without bias.

Most experts develop a clear agenda they proceed to press on everyone.