Entrepreneurship is a journey that is often unpredictable and full of twists and turns. Thomas Naoum, a successful entrepreneur, knows this all too well. Starting from humble beginnings, Thomas has evolved from flipping shoes to flipping properties, becoming a Section 8 rental property mogul.
Thomas’ journey began at a young age, and by the time he was 17, he had already started a multitude of small businesses, from day-trading to pressure washing and flipping shoes. However, his desire to branch into the real estate industry was always present, and he eventually bought his first property and completed a BRRR to put it on Section 8 to mitigate his day trading tax liability.
Thomas initially found the jump into Section 8 to be challenging due to the many steps involved and the lack of a proper formula. By the end of his first year, he had lost close to $70,000, but he persevered and attended all the board meetings, which helped him develop a systematic business model that could scale without him directly having to be involved. The ultimate goal for Thomas is to scale without having to be directly involved in the business, becoming the investor in the background, which is the most powerful move in any business. Today, he owns rentals in two states in which he does not even reside.
The evolution of Thomas Naoum’s entrepreneurial journey is impressive, and it is worth exploring the highlights of his story in more detail.
From Shoe-Flipping to Property-Flipping Thomas’ journey began with shoe-flipping, which might seem like an odd place to start, but his early experiences taught him valuable lessons about business. He learned that the key to success is to stay ahead of the trends, identify gaps in the market, and remain flexible enough to pivot when necessary. Thomas applied these principles to his future ventures, and they served him well.
The Power of Section 8 Rentals One of the most significant moments in Thomas’ entrepreneurial journey was discovering the power of Section 8 rentals. By creating a formula and system that worked, Thomas turned his Section 8 properties into a passive cash flowing business. As he scaled his rental properties, Thomas found that his success was not limited by the discrepancies surrounding Section 8 rentals. He created a true passive income that allowed him to have his money work for him instead of the other way around.
Scaling Without Direct Involvement Thomas’ ultimate goal is to scale his business without having to be directly involved. He believes that staying in the background as an investor is the most powerful move in any business. To achieve this goal, he has developed a systematic business model that can scale without him needing to be involved. This approach has allowed him to expand his business to multiple states, giving him the freedom and flexibility he desires.
Conclusion Thomas Naoum’s journey from shoe-flipping to property-flipping is a testament to the power of entrepreneurship. His ability to identify gaps in the market, pivot when necessary, and scale his business without direct involvement is impressive. Thomas is a shining example of what is possible when one is determined and willing to put in the work. Whether you are just starting or have been in business for years, his story offers valuable lessons that can help you take your business to the next level. Remember to stay ahead of the trends, identify gaps in the market, and remain flexible enough to pivot when necessary. Who knows where your entrepreneurial journey might take you!
