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Tommy Harr

đŸ‘€ Person
156 total appearances

Appearances Over Time

Podcast Appearances

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

I'm going to restructure at some point, but you have to accumulate that equity to be able to do it. And you don't have to do it with down payments. If you, like we talk about active income, you can go and be an amazing wholesaler. But in the back of your mind, knowing that every now and again, the really good deals, buy them with private money or hard money.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

I'm going to restructure at some point, but you have to accumulate that equity to be able to do it. And you don't have to do it with down payments. If you, like we talk about active income, you can go and be an amazing wholesaler. But in the back of your mind, knowing that every now and again, the really good deals, buy them with private money or hard money.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

fix them up like everybody talks about, refinance out. Like that game is really real. I know people kind of gamify it on Instagram and online, but it is life-changing. It does work, but you have to learn how to find good deals and you have to learn construction. no ifs, ands, or buts about it.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

fix them up like everybody talks about, refinance out. Like that game is really real. I know people kind of gamify it on Instagram and online, but it is life-changing. It does work, but you have to learn how to find good deals and you have to learn construction. no ifs, ands, or buts about it.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

Yeah. Yeah. I mean, I've gotten so many deals just because I pointed things out to sellers that they had never even heard of, because you get in this mindset that they own the house, so they know everything about it. And that's just not true.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

Yeah. Yeah. I mean, I've gotten so many deals just because I pointed things out to sellers that they had never even heard of, because you get in this mindset that they own the house, so they know everything about it. And that's just not true.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

So if you can be a Swiss army knife and you can educate them on actually what's going on and not be sharky, you can actually educate them in finding good deals. Or If you're buying from a wholesaler, most wholesalers know nothing about a house. They've stumbled into a deal, especially new ones. They stumbled into this deal. They might be off.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

So if you can be a Swiss army knife and you can educate them on actually what's going on and not be sharky, you can actually educate them in finding good deals. Or If you're buying from a wholesaler, most wholesalers know nothing about a house. They've stumbled into a deal, especially new ones. They stumbled into this deal. They might be off.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

Instead of telling them that they're an idiot and they're off on their numbers, typically it's overvaluing the ARV, undervaluing the rehab. So there's no margin. Educate them on the house and tell them why this is it. This is because in a market like I'm at in Columbus, I've got houses built in the 1800s where they literally went down to the quarry, grabbed rocks and built a house out of them.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

Instead of telling them that they're an idiot and they're off on their numbers, typically it's overvaluing the ARV, undervaluing the rehab. So there's no margin. Educate them on the house and tell them why this is it. This is because in a market like I'm at in Columbus, I've got houses built in the 1800s where they literally went down to the quarry, grabbed rocks and built a house out of them.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

Yep. All the way to 2025. So you have to be able to look at that and be like, okay, I've got knob and tube. I've got galvanized plumbing. I've got cast iron. I've got plaster versus a 70s house doesn't have any of that. So you got to be able to gauge buyer's risk. You got to understand that there's different margins with those deals and you got to be able to evaluate the deals better.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

Yep. All the way to 2025. So you have to be able to look at that and be like, okay, I've got knob and tube. I've got galvanized plumbing. I've got cast iron. I've got plaster versus a 70s house doesn't have any of that. So you got to be able to gauge buyer's risk. You got to understand that there's different margins with those deals and you got to be able to evaluate the deals better.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

But it all starts with age of house and the construction of the homes.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

But it all starts with age of house and the construction of the homes.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

I'm crushing on the TV side. It's been fun. I didn't put my ugly bug on there. Just me. I've got a nine month old and a beautiful blonde wife. So I put them two in the commercial with me and it's been absolutely crushing. But, uh, that's, that, that was my differentiator. I had, uh, uh, two other people that were better.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

I'm crushing on the TV side. It's been fun. I didn't put my ugly bug on there. Just me. I've got a nine month old and a beautiful blonde wife. So I put them two in the commercial with me and it's been absolutely crushing. But, uh, that's, that, that was my differentiator. I had, uh, uh, two other people that were better.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

Yeah. We're a family owned company here in Columbus. We buy any type of house, cash offer, kind of the basics. That hits though. Oh yeah. That hits. Gosh.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

Yeah. We're a family owned company here in Columbus. We buy any type of house, cash offer, kind of the basics. That hits though. Oh yeah. That hits. Gosh.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

Honestly, I don't go to the actual appointments. My acquisition manager does, obviously. But I mean, yeah, we try to say, I mean, that's in our cold call pitch, local, like once again, dominate backyard. That's kind of been the bread and butter.

The Science of Flipping
Lost $100K on His First Flip—Now He Closes 30 Deals a Month and Owns a $20M Portfolio | Tommy Harr

Honestly, I don't go to the actual appointments. My acquisition manager does, obviously. But I mean, yeah, we try to say, I mean, that's in our cold call pitch, local, like once again, dominate backyard. That's kind of been the bread and butter.