Tommy Harr

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

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.

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.

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.

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

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.

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.

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.

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.

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.

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.