The FORT Podcast: Nick Huber – Co-Founder of Bolt Storage – 0-34 self-storage properties in 4 years, Cancel Culture, Remote Labor, Sweaty Startups!
Nick Huber, Co-Founder of Bolt Storage, is back on The FORT Podcast to discuss what Nick’s learned after going from 0-34 self-storage properties, thoughts around cancel culture, why it exists, and how we might overcome it. On this episode, they also chat about how remote work is changing the workforce, Self Storage market updates, and why blue-collar labor (sweaty startups) offer some of the biggest opportunities in America. Enjoy!
Listen on:
Spotify
Apple Podcasts
YouTube
Topics:
(03:03) – Nick’s Transformation Over the Past Few Years
(11:10) – Tailwinds in Self-storage
(15:12) – Storage Scenario: What’s your 30-day game plan after you buy a facility?
(18:11) – Nick’s Weekly Check-Ins
(19:06) – How do you source on-site vendors?
(19:56) – Nick’s Tenant Base & Thoughts on RV & Outdoor Storage
(22:28) – Have you had any major revelations during the last three years?
(30:47) – Creating Competitors
(41:05) – Is “community” the right way forward?
(43:39) – Nick’s Experience Wiith Cancel Culture & the Twitter Mob
(58:31) – The Ultimate Net Positive of Twitter
(1:02:11) – Re-thinking Blue-collar Work
Episode Summary
Huber, esteemed for his expertise, primarily delved into the intricacies of the real estate market, offering listeners a panoramic view into the complexities and opportunities therein.
Nick Huber’s reputation in the real estate world is underscored by his strategic approach to property investments. His journey has seen him navigate the nuances of Class B industrial properties across major Texas markets, emphasizing the state’s prominence in the sector. Huber’s insights are enriched by his experiences, which have taught him the art of balancing the often stressful demands of real estate with the rewards it offers.
A significant portion of the conversation revolved around the rising trend of storage facilities. Huber highlighted an observable surge in storage supply in major metropolitan areas, citing a remarkable 30% increase in some cities. This burgeoning market segment is teeming with potential, signaling a pivotal shift in urban real estate dynamics.
However, Huber’s strategic inclination isn’t limited to bustling metros alone. He expressed a marked preference for investments in smaller towns over cities. By comparing properties in and around Pittsburgh, he illuminated the importance of discerning true market rent, especially in lesser-tapped markets. This deep-rooted understanding, Huber posited, can play a crucial role in shaping investment outcomes.
As the conversation progressed, listeners were introduced to Juniper Square, a formidable tool in the modern real estate investor’s arsenal. Designed as an all-in-one investment management software, it stands testament to the evolving landscape of real estate, where technology and traditional investment strategies converge. Huber accentuated the essence of capital in real estate, underscoring its role as the lifeblood of the industry.
Diversifying the conversation, Huber also touched upon the labor market’s current state. He candidly addressed the challenges inherent in hiring proficient personnel, a concern that resonates with many in today’s competitive business environment.
One of the episode’s standout segments involved Huber’s reflections on building an audience, especially on platforms like Twitter. While he humbly admitted to rarely changing minds about storage investments on the platform, his passion for the real estate sector was palpable. Huber’s words served as a clarion call to listeners, urging them to explore the myriad opportunities the real estate world offers.
The Fort is produced by Johnny Podcasts