Nick Molina | The ETA Guy

@APompliano This tweet didn’t age well… bloomberg.com/news/articles/…

Scott Bessent is literally one of the best macro investors in the world. He helped break the pound with Soros and Druckenmiller. And people are acting like the guy doesn’t know what he is doing. Laughable.

I didn’t set out to buy property management companies. I just knew the business inside and out— because I lived it. My first rental was at 19. I self-managed, eventually built a team, and slowly realized how rare it is to find a business with these traits: •Predictable, recurring revenue •Sticky customer relationships •Low CapEx, high margin •And best of all? It’s a people business. When I started looking at PM businesses from the lens of an investor and operator, it wasn’t just familiar… it was smart. That’s why it’s at the top of my buy box. If you’re curious why property management stands out so much in today’s market, I unpack it in my interview with Vendoroo's Chief Evangelist Pablo Gonzalez on the Property Management Frame Breakers show. Check it out! (Link in the Comments)

Actually I’ve been there multiple times including this past weekends men’s finals - and I also happen to live in Key Biscayne, where the tournament was. I know EXACTLY why they left there. They wanted to continue to expand the tournament facilities and the Matheson family, who donated the land to the county, said no to additional development. Like I said - greed to grow the tournament instead of leaving it “the player’s favorite non-slam tournament”. A real shame.

@NickMolinaETA @MiamiOpen @fastdrycourts Sounds like you’ve never been there. Also that you’re completely uninformed about why they had to leave. Figures

Nothing beats this view 🌴

A real honor to sit with long time friend @ConnectwPablo to discuss how #propertymanagement businesses can build a business that buyers like me want. Take a listen as he asks all the right questions. podcasts.apple.com/us/podcast/pro…

Heard this recently and it really resonated. It’s so true… “Ask people for money, and they’ll give you advice. Ask people for advice, and they’ll give you money.”

Apple's success with the iPhone wasn’t about the specs; it was about creating DESIRE. While BlackBerry focused on listing features, Apple sold freedom and possibility, making people feel something. The Lesson: People don't buy better features. They buy better stories.

@ThrivingBusnss Well sounds like your question answers itself.

@NickMolinaETA What if the new owner’s approach would have worked in the long run, and the issue was simply short-term discomfort during change?

I once saw a deal fall apart because the new owner refused to listen to the outgoing founder’s advice. The team felt it, and morale tanked. Lesson: Founders know the pulse of their company. Listen to them if they’re willing to stay involved. #SMB #ETA

@MASS1094 @whentheresawill @AcquiringMinds_ Glad you enjoyed it and got some value from it. It’s one of the reasons I did it.

@NickMolinaETA @whentheresawill @AcquiringMinds_ Great podcast! Useful and inspiring insights. Thanks for sharing your experience.

After extracting so much value from @whentheresawill ‘s leading #ETA podcast @AcquiringMinds_ , I was honored to be asked to come on as a guest myself. I hope that sharing my story brings as much value to others as I have received from listening to prior guests. You can watch on YouTube or listen to it wherever you listen to podcasts. Big props to those that helped me through this process @walkerdeibel @SMBChelseaWood @EndresenHeather youtube.com/watch?v=sZOYBk…

#DeepSeek is a a great example of how not being first to market is often better than being first. Other examples: Facebook vs MySpace, Google vs Yahoo, TikTok vs Instagram, GM vs Ford. What are some others that come to mind?

@jack_watson_hfw He’s gotta go or you se d the wrong message to other employees. It will also benefit him in the long term. He needs to be accountable for his actions and there needs to be repurcusions for his behavior.

We have a young guy in our shop, he’s 19 years old. He has been with us since graduating his vocational high school. Very bright kid who has the capability to be a tremendous machinist. He is already working on complex projects. We like him a lot. But his attendance is abysmal. Constantly late, calling off, etc. At this point, it’s almost once a week (if not more). He has been talked to repeatedly and was formally written up. We even adjusted his hours (most guys work 4/10s) so he doesn’t have to be there at 6am, our shop start time. But nothing’s working. He’ll tell you all the right things, and he knows his attendance is his only flaw. But then he calls in the next day. What do we do? We like this kid and want to keep him, but this is not sustainable.

I'll be attending ETA Deal Team Day in Miami tomorrow. I'll be among a select group of investors present who are actively looking for #ETA deals in which to deploy capital. We are anticipating some matchmaking magic to take place tomorrow. Be sure to stop by to connect! Tickets > lu.ma/dtdmiami125?co…

@therobertbrooks Fantastic! That’s the way you do it. Congrats.

Found out the plumbing business I'm considering has a full ask LOI submitted with a deadline to accept Skipped the seller call stage and drove 2 hours to meet the seller in person The broker just called me and told me the seller is blowing off the other LOI deadline because he wants to sell to me and will flex where needed to make that happen. Writing the LOI today...

@nickgerli1 This isn’t the full math. You’re leaving out appreciation.

1) To fully understand just how problematic this situation is for aspiring investors, let's do some simple math: $2,174 is the monthly rent for a single-family home in US. $26,088 year in gross rent. $16,957 in net income after expenses (65% margin). Divide that by the typical price of a single-family home - $357,000 - and you get a minuscule 4.76% cap rate or annual investor return. That's simply not high enough to make cash-flow based real estate investment worthwhile in this interest rate environment.

Rising long-term bond yields are creating big issues for real estate investors. With the 10-year US treasury now rising past the Cap Rate, or net profit %, from a rental property. This means US government bonds now have the same return as buying a house and renting it out. As a result - investor purchases have plummeted. And more investors are selling—especially the institutional ones.

I just realized tomorrow is Monday and not Sunday. Must have been a good weekend.

@bairdk @preston_holland Has to be a typo - maybe $500k per year?

@preston_holland I’m most interested in the guy who nets $5m per year and has only managed to keep $10m of it.

When can you afford to fly private? I polled 15 private fliers what their net worth and net income was when they started flying private. The data was almost unanimous (👇)

@JordanReffett @CaneSport $4M 1 year.

@CaneSport Anybody got the money details? House, cars, ect?

Looks like Carson Beck has arrived in the 305

$7500 per month seems high to me. I’m assuming the success fee is a typical Lehman calculation. A Lehman fee is reasonable. $7500/month additionally is not. I would probably agree to a Lehman Fee or a monthly fee, but not both. I’d also keep them on a very short leash if doing the monthly fee. Just think about what results you’re incentivizing in each case.

@CIMbuilder Average searcher? No But can see someone who has a high-paying W-2 and real management experience, or an entrepreneur with a high personal balance sheet that wants to go fast to get cash flow (@NickMolinaETA on @AcquiringMinds_ recently) comes to mind

SMB Buyers, what do you think about this?

The true Holy Grail of business isn’t just the bottom line. It’s creating a place where people show up because they’re part of something that matters… not just because they collect a paycheck. It’s why people often stay despite better offers. #SMB