Tommy Harr
speaker
78 appearances
1 recordings
1 series
first heard Apr 2025
last heard Apr 2025
Tommy Harr’s voice in public audio — every appearance, attributed to the second.
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Appearances
if i could go back seven years ago and start telling people about my first house hack i lived in my damn living room and rented all my bedrooms out if if people knew that more and like just document your journey and understand that this stuff doesn't happen overnight it's a you you stumble around if you're like me and you didn't get help in the beginning you stumble around for a year two years three years and then you figure it out find somebody in your market or around the country that does what they say they do vet them out give them your energy and they will take you to the next level so
So it's not as hard as you do it by yourself, but it's still going to be hard. Fail, fail often, fail fast and get to the next level.
What's up, brother? It's been an honor to get to know you and been in the mastermind with you for a while, but I usually connected a few months ago and it's been a great time.
Yeah, my uncle approached me right before I graduated college, which was 2017. And he was like, hey, do you want to invest in real estate? And I said, no, I'm going to work for my pop. So that's where the home inspection background came from. I've always been working with him. And then I started doing inspections for investors, doing draws.
So I went back to him and I was like, hey, we should think about flipping houses. I've seen all these people win. So long story short, we ended up buying this house in Columbus. Columbus is not an expensive market, but we bought this five bed, six bath house for $420,000. It took us 18 months to fix it up and resell it. And we ended up losing $100,000 on that. So the reason we lost so much money is
was because the contractor I hired, I should have fired him within a couple of weeks. The scope of work was super gray and vague. So there were change orders everywhere. We didn't even like say who did labor, who did material. So it was just like the classic, the blind leading the blind. And now I know that you just, you hire fast or you hire slow, you fire fast.
You got to really learn to set expectations properly, not just for contractors, but anybody you go into business with, even new like business relationships and friendships, and then stick by it. Like if it says to fire the person, fire them. You have to stick to the things you lay out. So learned a lot of really good lessons during that first flip for sure.
Yeah, we were primarily, I would say like 75, actually it's probably 50-50, 50-50 wholesale to flip. And then maybe like a 5% if you can go to 105 holding rentals, mostly for tax purposes, just because the market I'm in Columbus, Ohio, the cashflow just isn't there in the market rate environment when we're shooting this. High sixes, mid sevens, even into the eights sometimes on a DSCR standpoint.
So we just decided that we were going to go continuing to go all in on wholesaling and and just being really good at finding really good deals. So we're doing anywhere from 10 to 15, sometimes 12 deals a month on the wholesaling side, direct to seller. And then we're doing another 15 to 20, 25 flips at any given time. So we've split it in half.
We kind of divided the businesses and we run them like that because before We would wholesale and then we would buy our own wholesale deals from the company. We wouldn't pay a wholesale fee, but I've got sales guys over there. So we were starving that business of cash over and over again. And we realized we were making less on flips than we projected that we were going to make.
I mean, that sounds pretty normal, but that's a good lesson for people. Be super conservative. Yeah. And you're never going to make as much as you think. So we just look back and we're like, we know we should have made more money. Where was it at? So it was dividing out the wholesaling. First thing on direct to seller is wholesale.
And then if we think we can get more or it's just a weird deal, we'll take it down. But that's kind of the mix in the business right now.
Yeah. So like you said, I love the idea of going deeper, not wider. I want to dominate my backyard. And then if I feel like there's no more opportunity to go out, people just scram out too fast. And they're like, oh, it's not working. And they make an excuse. It's usually excuse-based. It's not really data-driven. Yeah.
The way that we are going direct to seller for the last six years, we've been primarily cold calling and texting. So now texting is a little bit on the wayside. So we're heavy on the cold call and we just implemented TV leads. So I started TV leads three, four months ago. They've been crushing. So we're doubling down on that.
And then we're doing some back end direct mail on the niche things that come in leads that don't convert quickly on that side. So to really create that strong brand, like, hey, make sure you watch us on the news if we're talking to the cold call. So everything's kind of now being symbiotic. But we've got two full time sales direct to seller acquisitions. We've got a full time dispo.
We've got a full time TC. We've got a bunch of VAs on the back end doing our data management, our lead management. And then recently we've changed our outbound cold calling to mostly hired VAs, mostly in Egypt, to we're hiring young guys because of social media. They want to come work for us.
So we're doing a lot of like boiler room type cold calling on really, really niche lists that we had for years and years and stacked in REI SIFT. So we're getting really, really good results on that just because we realized,
you want to go deeper you got to get better so just not doing things that other people aren't doing and committing to it it's been a it's been a really good challenge it's been fun and then we also have a jv acquisition so anything business to business relationship he's doing anything that comes to me through instagram i'm i'm handing it off uh anything from wholesalers realtors building relationships to where we're not actually spending the marketing dollars but we've got the human capital uh going after those
So number one is we're calling probates and we're pulling those directly from the county the days that they're dropping public record. So we have VAs going in scrubbing. I mean, this is gold stuff. If you guys are trying to actually get niche data, pulling those hand skip tracing them and then pushing them into a cold caller. And we're using smartphone.
We use four line dialers and we're calling those around the clock. And then. Those guys are in the office. So our acquisition guys can help train them. They can help with word tracks. And then if there's a hot transfer, we just hot transfer them over, which cold calling, it doesn't matter that much speed to lead, but it definitely helps hearing the conversation and pushing it over right away.
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