Folks ask me quite often what the best business decision I ever made was. Here is my answer: Hiring my first overseas employee. In 2021 I engaged a company called Support Shepherd to recruit a Philippines based employee for my storage company. Today 80% of the employees across my 11 companies are located in either the Philippines or LATAM (Columbia, Argentina, Brazil, etc). The average salary is $1200 USD per month ($5 per hour). What do they do at my companies? Customer service. Underwriting. Billing. Sales. Financial analysis. Property management (dealing with all of our vendors). Web design. Graphic design. Video editing. Bookkeeping. You name it. Any job that can be done remote, you can find exceptional talent in these countries. Several of these folks have the potential to RUN one of my companies someday. If I had to guess I'd say about 10% of companies in America with less than 500 employees outsource. I bet that number in 2034 is closer to 50%. Every year that goes by companies are getting more and more comfortable with it and the folks who don't do it are falling further and further behind. Check out supportshepherd.com to see if overseas talent could help your company. (I'm so passionate about this for small busiensses I actually invested in Support Shepherd). -- Don’t forget something very important about this life: If you tolerate a boss sending you demands on Sunday morning, he will continue to overwork you. Set boundaries in all areas of life! Caveat: I'm not saying to be rude to people. Just stand up for yourself in a respectful, rational way. And always, always, always treat people well and respectful in return. This goes both ways. -- Nothing is more important to me in life than sharing memories with my kids and making them want to be around me when they’re old enough to not be around me. -- Something I've changed my mind on over the years: How you dress and how you present yourself matters. People judge a book by its cover ALL THE TIME. How you look matters. It matters in dating. It matters in business. It matters at your job and with your friends. People judge you based on how you look all the time. Everyone does it. Whether they admit it or not. If you purposely dress casual and die your hair an unnatural color people will perceive you as less reliable and less trustworthy. If you dress professional and you are clean-cut with a nice haircut people perceive you as more reliable and more trustworthy. Therefore you are more likely to get paid more money for the same contribution. Or get more opportunities. It is that simple. You can hate the game if you want to, but get over yourself and start playing it if you want to win. -- An underrated key to delegation and management: Saying something that takes others 3 minutes to say in 15 seconds. Clear and simple communication, both written and verbal, is a superpower. People have extremely short attention spans. They may look at you and nod... But they aren't paying attention. KEEP IT SIMPLE AND KEEP IT SHORT. How to practice this: Before you hit send, spend twice as much time thinking about how you can REMOVE words. Record yourself talking. Get a transcript. Then do the same thing. It takes practice. There is no greater threat to effective leadership than overly complicated and unclear communication. Onward and upward, Nick Huber P.S. Tax season is right around the corner and my final income tax bill will be $0 for one main reason - Cost Segregation Studies and bonus depreciation. DO NOT FORGET TO GET COST SEGREGATION STUDIES DONE ON YOUR REAL ESTATE. The folks at RE Cost Seg have already delivered my cost segs this year and the depreciation is mouth watering. Reach out if you're in the market - the proposal is free. Not sure what a cost seg is? Check out this thread. |
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I own a real estate firm with over 1.9 million square feet of self storage and 45 employees. I also own 6 other companies with over 400 employees. I send deal breakdowns with P&Ls. Newsletter topic: Real Estate, Management, Entrepreneurship
Quick note before we dive in: Big news: The big beautiful bill passed which means 100% bonus deprecation is back and it's PERMANENT. If you bought property and placed it into service after January 19th, 2025 you can get a cost seg study and take 100% bonus depreciation in year one. That's 2.5X more bonus depreciation than the previous rate of 40%. I get all of my cost seg studies from RE Cost Seg. If you want to see how much you can save with this new law, click here. -- Don't chase status,...
Quick note before we dive in: Imagine building a business or real estate empire and not protecting it! If you don’t have insurance (general liability, errors and omissions, directors and officers liability etc) you are making a huge mistake. I get my policies from Titan Risk. Want to see where you might be exposed by not being insured? Just respond to this email and I’ll make an intro. -- If you work a W2 job and want to get ahead in life, I only have one piece of advice. Solve problems for...
Quick note before we dive in: I'm hosting several free online workshops over the next few weeks. 2 big ones coming up: How to Pay Less Tax (Happening tomorrow at 2pm EST!) Building Worldwide Teams (July 1st) If you register, I'll send you a copy of the recording even if you can't attend live. -- What is this all about? Almost everything I write about is related to business and the tools + skills you need in order to make money and grow companies. But what's the end goal here? Isn't it to live...