Storage Wealth Through Compounding
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Sam Parr shares a story about their friend Nick Huber's success in the storage business through patient compound growth.
"Our friend Nick Huber has done a really good job of putting off making cash. I'm an investor so I get to see some of the numbers of his storage deals. He didn't crush it in terms of personal cash flow for a long time, but the way things have compounded is incredible. If you just eat shit for 6-7 years and pick the right asset, things look really cool.
He has great terms with his investors - quite favorable to him. At the beginning when you have no capital, you make a deal where you take no management fees, no acquisition fees, and a low carry. But now he's good and he knows it, so he takes higher fees, higher acquisition fees, and a healthy carry."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.